Mr. Fausto Di Trapani reports

TIERNAN GOLD ANNOUNCES GRANT OF COMPENSATION SECURITIES

Tiernan Gold Corp. has granted an aggregate of 10,066 stock options, 104,544 restricted share units and 9,089 performance share units to an eligible participant, pursuant to the company's omnibus equity incentive plan adopted on Oct. 16, 2025. The plan provides that the maximum number of common shares issuable under the plan, together with all other security-based compensation arrangements of the company, shall not exceed 10 per cent of the issued and outstanding common shares of the company at the time of any award grant.

Options

The company has granted an aggregate of 10,066 options to an eligible participant. Each option entitles the holder to purchase one common share of the company at an exercise price of $8.35 per share. The options expire five years from the date of grant and vest in three equal annual instalments, with one-third vesting on each of the first, second and third anniversaries of the date of grant.

Restricted share units

The company has granted an aggregate of 104,544 RSUs to an eligible participant. Each RSU entitles the holder to receive one common share of the company, a cash payment equal to the value of one common share of the company, a combination thereof or otherwise as determined at the sole discretion of the board of directors of the company. The RSUs expire five years from the date of grant and vest in three equal annual instalments on the first, second and third anniversaries of the date of grant.

Performance share units

The company has granted an aggregate of 9,089 PSUs to an eligible participant. Each PSU entitles the holder to receive one common share of the company, a cash payment equal to the value of one common share of the company, a combination thereof or otherwise as determined at the sole discretion of the board of directors of the company, subject to the achievement of applicable performance criteria during the performance period and corresponding vesting conditions. The PSUs are subject to a three-year performance period. The PSUs expire on April 8, 2031.

The company's grants of options, RSUs, deferred share units and PSUs are in addition to cash compensation fees payable to its officers, employees and non-executive directors.

About Tiernan Gold Corp.

Tiernan Gold is focused on the disciplined derisking of the Volcan gold project strategically located in the Atacama region of Chile on the Maricunga gold belt, a jurisdiction that has a long-established history of mining with a number of operating mines, new mines under construction and major projects being developed.