Mr. Kirill Klip reports

TNR GOLD BEGINS EXPLORATION PROGRAM ON SHOTGUN GOLD PROJECT IN ALASKA

TNR Gold Corp. has started an exploration program on the company's Shotgun gold project in Alaska.

The 2026 field program at the Shotgun and Winchester prospects, located in the Taylor Mountain Quadrangle in Alaska, will follow up the 2022 field program and investigate the geochemical anomalies generated by the 1998 Novagold Resources soil surveys and the geophysical targets indicated by anomalies from the SJ Geophysics 2011 and 2012 IP (induced polarization) surveys.

"The Shotgun gold project is an advanced-stage exploration prospect in southwestern Alaska. The company's strategy with the Shotgun gold project is to attract a partnership with a major gold mining company. TNR Gold has successfully consolidated and updated its mining claims in Alaska, and is actively introducing the project to interested parties," commented Kirill Klip, TNR Gold chief executive officer. "We may be at the beginning of a great discovery. There is a clear path on how to move this project forward using the geological and geophysical research currently available to target drilling to expand the resource. The next step is to acquire a partner that shares our vision and recognizes the growth potential and value to be added to the Shotgun gold project over time. This exploration program will allow us to comply with the listing requirements, our work commitments in Alaska to maintain the mining claims in good standing and to provide additional information in TNR's Shotgun gold data room for our potential strategic partners."

About the Shotgun gold project

TNR holds a 90-per-cent interest in the Shotgun gold project, which is located 190 kilometres (km) south of the Donlin gold project deposits within the Kuskokwim gold belt in southwestern Alaska. This area is emerging as a world-class, multimillion-ounce gold district. The Shotgun property includes a number of prospects, including Shotgun Ridge and nearby Winchester. The Donlin gold project is an intrusion-associated system and represents one of the largest undeveloped gold deposits in the world. The company believes that there are several key similarities between prospects on the Shotgun property and those of the Donlin gold project deposits, as well as other important intrusion-associated deposits worldwide.

The company is targeting a large-tonnage, porphyry-style gold system at Shotgun Ridge. Repeating fault-controlled structures, identified from airborne magnetic and ground geophysical data, provide TNR with encouraging targets for future drill testing.

Detailed information about the inferred mineral resource estimate is included in the technical report titled "Technical Report on the Shotgun Gold Project, Southwest Alaska," dated May 27, 2013, and can be found on the TNR Gold website or on SEDAR+.

Qualified person

The technical information in this news release has been reviewed and approved by Brendan McCrum, CPG-12330, consulting senior geologist from Alaska Earth Sciences to TNR Gold and a qualified person as that term is defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About TNR Gold Corp.

TNR Gold is working to become the green energy metals royalty and gold company.

The company's business model provides a unique entry point in the creation of supply chains for critical materials like energy metals that are powering the energy revolution and the gold industry that is providing a hedge for this stage of the economic cycle.

TNR's portfolio provides a unique combination of assets with exposure to multiple aspects of the mining cycle: the power of blue-sky discovery and important partnerships with industry leaders as operators on the projects that will potentially generate royalty cash flows to contribute significant value for TNR's shareholders.

Over the past 30 years, TNR, through its lead generator business model, has been successful in generating high-quality global exploration projects. With the company's expertise, resources and industry network, the potential of the Mariana lithium project and Los Azules copper project in Argentina, among many others, have been recognized.

TNR holds a 1.5-per-cent NSR (net smelter return) royalty on the Mariana lithium project in Argentina, a 0.15-per-cent NSR royalty of which is held on behalf of a shareholder of the company. Ganfeng Lithium's subsidiary, Litio Minera Argentina (LMA), has the right to repurchase a 1.0-per-cent NSR royalty on the Mariana project, of which a 0.9-per-cent royalty is the company's NSR royalty interest. The company would receive $900,000 and its shareholder would receive $100,000 on the repurchase by LMA, resulting in TNR holding a 0.45-per-cent NSR royalty and its shareholder holding a 0.05-per-cent NSR royalty.

The Mariana lithium project is 100 per cent owned by Ganfeng Lithium. The Mariana lithium project has been approved by the Argentina provincial government of Salta for an environmental impact report. Ganfeng Lithium officially inaugurated Mariana Lithium's start of production at a 20,000-ton-per-annum lithium chloride plant on Feb. 12, 2025.

TNR Gold also holds a 0.4-per-cent NSR royalty on the Los Azules copper project, of which a 0.04-per-cent NSR royalty is held on behalf of a shareholder of the company. The Los Azules copper project is being developed by McEwen Inc.

TNR also holds a 7-per-cent NPR (net profit interest) royalty on the Batidero I and II properties of the Josemaria project that is being developed by the joint venture between Lundin Mining and BHP.

TNR provides significant exposure to gold through its 90-per-cent holding in the Shotgun gold porphyry project in Alaska. The project is located in southwestern Alaska near the Donlin gold project, which is being developed by Novagold Resources. The company's strategy with the Shotgun gold project is to attract a joint venture partnership with a major gold mining company. The company is actively introducing the project to interested parties.

At its core, TNR provides a wide scope of exposure to gold, copper, silver and lithium through its holdings in Alaska (the Shotgun gold porphyry project) and royalty holdings in Argentina (the Mariana lithium project, the Los Azules copper project, and the Batidero I and II properties of the Josemaria project), and is committed to the continued generation of in-demand projects, while diversifying its markets and building shareholder value.

We seek Safe Harbor.