Mr. Richard Williams reports

TERRENO ANNOUNCES CLOSING OF $500,000 PRIVATE PLACEMENT OFFERING FOR TANTALUM EXPLORATION AND DEVELOPMENT

Terreno Resources Corp. has completed its non-brokered private placement, first announced on Jan. 21, 2026.

The $500,000 offering consisted of units of common shares and share purchase warrants of the company. Ten million units were offered at five cents. Each unit entitles the holder to receive one common share of the company valued at five cents and one share purchase warrant exercisable at seven cents for a period of 12 months following the issue date.

The warrants are subject to an acceleration provision whereby, at any time after the issue date, if, for at least 10 consecutive trading days, the volume-weighted average price at which the common shares trade on the exchange each day exceeds 14 cents per share, the company may issue a notice to the holder (which acceleration notice will be given to the holder by the company disseminating a press release) to accelerate the expiry time of the warrant to a date 30 calendar days following the date of the acceleration notice.

Proceeds from the offering will support exploration and development of the company's Metal 46 tantalum project in Bolivia and for general working capital.

Company president and chief executive officer Richard Williams commented: "I would like to thank the many participants in this offering, which should allow us to make significant progress in the coming months. Favourable geopolitical changes in Bolivia specifically and positive supply and demand dynamics for critical mineral tantalum are starting to draw attention to our activities."

The offering received all necessary regulatory approvals, including those from the TSX Venture Exchange.

Finders' fees of $300 and 300 warrants have been paid to a third party in accordance with the policies of the TSX Venture Exchange. Any of the common shares of the company that are issued and those issuable from any finders' warrants will be subject to a hold period ending on June 19, 2026, being the date that is four months plus one day following the issue date of those shares. in accordance with applicable securities laws.

We seek Safe Harbor.