Mr. Fausto Di Trapani reports

TIERNAN SIGNS NON-BINDING MOU TO EVALUATE ALTERNATIVE WATER SUPPLY FOR VOLCAN

Andina Minerals Chile SpA, a 100-per-cent-owned subsidiary of Tiernan Gold Corp., has entered into a non-binding memorandum of understanding to evaluate the potential supply of up to approximately 120 litres per second of desalinated water to the company's Volcan gold project in Chile's Atacama region.

The MoU provides for a nine-month evaluation period, which may be extended for a further nine months by mutual agreement. During that period, the parties to the MoU expect to assess the technical, infrastructure, timing and commercial requirements for a potential water supply arrangement. The 120-litre-per-second figure is a potential maximum for evaluation, not a reserved or committed volume. The MoU is non-exclusive and does not obligate either party to enter into a definitive supply agreement.

If the evaluation supports further work, the parties may negotiate a definitive water purchase agreement. The potential framework includes an initial term of 15 years from the commencement of supply, with possible mutually agreed extensions. The parties have not agreed on a water price, delivery start date or final commercial terms, including any take-or-pay mechanism. Any such terms would be subject to further negotiation and a definitive agreement.

"Water is a critical part of advancing Volcan, and this MoU gives us a practical framework to assess another potential source and delivery option," said Fausto Di Trapani, president and chief executive officer. "Our EIA base case remains based on continental groundwater from our existing permitted wells. We will continue that work while evaluating alternative sources in parallel. The next step is to determine whether the potential supply, infrastructure, timing and economics could support a future definitive agreement."

About Tiernan Gold Corp.

Tiernan 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.

We seek Safe Harbor.