Mr. Cameron Tymstra reports

TARGA PROVIDES EL ZANJON ASSAY RESULTS FOR HOLES EZD0003 TO EZD0008

Targa Exploration Corp. has released additional assays results from the company's drill program at the El Zanjon gold-silver project in Santa Cruz, Argentina. Assays results from holes EZD0003 through EZD0008 are reported in table 2.

Highlights:

• Maiden drill program at El Zanjon now complete; a total 2,475 metres (m) were drilled in 10 holes testing three target areas (NE-AOI, NW-AOI, EZ fault);
• Narrow zones of anomalous silver values observed in EZD0003 to EZD0005, EZD0007 and EZD0008;
• Thick intervals of favourable quartz-feldspar lapilli tuff encountered in EZD0007 and EZD0008;
• Final assay results for the last two holes (EZD0009 and EZD0010) expected in the next three weeks.

"This first-pass drill program has produced a significant amount of data and a new understanding of the underlying geology at El Zanjon where there is only a single outcrop in over 57,000 hectares," commented Targa chief executive officer Cameron Tymstra. "We've only just gotten started at El Zanjon with this program and this new information will help considerably in formulating our targeting methods and exploration strategy for future phases of work at El Zanjon as we continue to narrow our search for epithermal systems on the project. The 2,475 m we just completed also puts us well ahead of our earn-in obligations for 2026. While we wait on assays for the last two holes and begin a detailed analysis of the captured data, we are finalizing plans for our phase 2 Opinaca drill program, details of which are expected to be released in the coming days. I am very excited about this upcoming drill program at Opinaca, where last year we hit gold in seven out of eight drill holes across a strike of four km."

Ryan Weston, vice-president of exploration with Targa, states: "With the completion of our maiden drill program at El Zanjon come several new geological insights. Based on the drilled lithologies between the NE-AOI and NW-AOI, we believe the volcanic stratigraphy to be shallowly dipping to the southeast, with intermediate volcanic tuffs and flows overlying a thick felsic ignimbrite sequence. This is similar to what we know about the Chon Aike volcanic formation in the Cerro Vanguardia low-sulphidation epithermal vein field 30 kilometres along strike to the northwest of El Zanjon.

"While assays results to date have not yielded significant precious metal values, the wider intersection of anomalous silver values within the altered felsic ignimbrite unit in EZD0007 is encouraging and may be an early indication of a hydrothermal centre of mass for the property. Over the coming weeks, we will fully evaluate all geochemical, geological and geophysical data to inform our next phase of work for the El Zanjon project."

Hole EZD0003 through EZD0008 results

Holes EZD0003 and EZD0004 were drilled on a north-oriented fence (table 1) in area NE-AOI targeting east-trending magnetic lineaments coincident with a large multielement soil anomaly. Both holes intersected Jurassic basement volcanic rock at 60 m depth below the Tertiary cover sequence. Basement volcanic units consist of strongly clay altered intermediate lithic volcanic tuff followed by a pervasively oxidized and clay altered amygdular andesite unit below between 145 m and 195 m depth, and continuing to end of hole. Assay highlights are limited to narrow (less than three m) intervals of anomalous silver (two to five parts per million (ppm) silver (Ag)) and weakly anomalous gold (10 to 70 parts per billion (ppb) gold (Au)).

Hole EZD0005 was a scissor hole drilled south on the same section as holes EZD0001 and EZD0002, in area NE-AOI targeting a southeast-trending magnetic lineament coincident with a large multielement soil anomaly. Basement volcanic units beginning at 60 m depth are dominated by the same oxidized and coarsely amygdular andesite unit observed in holes EZD0001 and EZD0002, with amygdules commonly filled by white kaolinitic clay. Assay highlights are limited to a single one m interval of 13.97 ppm Ag in Tertiary marine sediment at the Tertiary-Jurassic contact and a single narrow (less than one m) interval of anomalous silver (two ppm Ag) in basement volcanics. Gold values were all below detection (less than 10 ppb Au).

Hole EZD0006 was drilled 1.5 kilometres (km) to the southeast of holes EZD0001, EZD0002 and EZD0005, and targeted the same magnetic lineament within a multielement soil anomaly. Basement volcanic rocks beginning at 69 m depth consists entirely of the strongly clay altered intermediate lithic volcanic tuff unit observed at the top of holes EZD0003 and EZD0004. On the basis of these pierce points into this unit, basement stratigraphy in the NE-AOI is interpreted to be dipping shallowly to the southeast, in line with the dip of the Chon Aike formation at Cerro Vanguardia. Hole EZD0006 did not return any significant assays.

Hole EZD0007 was drilled 2.9 km to the west of holes EZD0001, EZD0002 and EZD0005, in NE-AOI, targeting the interpreted intersection of east-west- and southeast-trending magnetic lineaments coincident with a multielement soil anomaly. Basement volcanic rocks between 56 and 145 m depth consists of an intermediate sequence of fine ash-tuff, coarse andesite breccia and lithic tuff, all strongly clay altered and locally hematized. From 145 to 200 m (end of hole), the hole encountered a felsic sequence dominated by quartz-feldspar porphyritic lapilli tuff and lesser finely laminated felsic ash tuff. Alteration in this lower felsic unit appears intense and varies from clay-dominated (argillic) to chlorite-dominated (propylitic), ending with patchy pervasive limonite-hematite alteration. Elevated silver values, including up to 2.43 ppm Ag over 6.40 m, were encountered between 168.70 and 180.0 m in this lower felsic unit. All gold values returned below detection limit levels.

Hole EZD0008, drilled in the NW-AOI, targeted the interpreted intersection of east-east- and southeast-trending magnetic lineaments coincident with a 1.5 km long multielement soil anomaly. Basement volcanic rock was encountered at 70 m depth and consists entirely of quartz-feldspar porphyritic lapilli tuff. This same unit is exposed in outcrop 4.1 km to the southwest and is interpreted to be a welded ignimbrite on the basis of flattened lapilli, lack of porosity and elevated hardness. Alteration in EZD0008 is limited to clay and limonite staining (interpreted to be weathering related) above 110 m depth, below which the unit appears quite fresh. Assay highlights in this hole are limited to two narrow (less than three m) intervals of anomalous silver (two to three ppm Ag) and several gold values at detection level (10 ppb Au).

QA/QC (quality assurance/quality control) program

Drill core for the El Zanjon project was transported daily from the drill to the logging facility where it was logged, photographed and split by diamond saw prior to being sampled. Internal blanks and certified reference materials were inserted into the sample stream at regular intervals as part of Targa's internal QA/QC program. Groups of samples were then placed in large bags and transported from the project site to Alex Stewart International (ASI), an ISO 9001- and ISO 17025-certified analytical laboratory, in San Julian.

Sample preparation at ASI consists of drying, crushing and pulverizing to less than 106 microns (prep codes P1 and P5). Following preparation, pulp samples were then shipped to ASI in Perito Moreno for fire assay gold and silver analysis (code Au4-30 and Ag4A-30), and to ASI in Mendoza for 39-element multiacid ICP-OES (inductively coupled plasma optical emission spectroscopy) (code ICP-MA 39) to determine trace element composition.

All results presented passed the QA/QC screening at the lab, as well as Targa's internal QA/QC program within acceptable limits.

Technical disclosure

The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Ryan Weston, PGeo, vice-president of exploration of Targa, who is a qualified person within the meaning of National Instrument 43 -101, Standards of Disclosure for Mineral Projects. Mr. Weston is responsible for the technical content of this news release and is not independent of the company.

About Targa Exploration Corp.

Targa Exploration is a Canadian exploration company engaged in the acquisition, exploration and development of gold mineral properties with headquarters in Vancouver, B.C. The company's focus is on early-stage projects in premier mining jurisdictions with strong potential for making Tier 1 grassroots precious metals discoveries. Targa's flagship asset is its Opinaca gold project in Quebec where widespread gold mineralization was recently discovered during a maiden drill campaign in 2025. The company has also recently acquired options to earn up-to-80-per-cent equity interests in the Venidero and El Zanjon gold-silver projects in Santa Cruz, Argentina, and is actively drilling at El Zanjon.

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