Mr. Kirill Klip reports

TNR GOLD THANKS SHAREHOLDERS FOR THEIR STRONG SUPPORT AND REMAINS FOCUSED ON DELIVERING LONG-TERM VALUE

TNR Gold Corp. today responded to a press release issued by Eucalyptus Resources Opportunities Fund 1 LP (Jon Christian Evensen) (the dissident, Eucalyptus or Koala) and encourages shareholders to carefully review all available facts before making their voting decision at the upcoming annual general and special meeting scheduled for Sept. 22, 2026.

• Shareholders encouraged to review the facts and to focus on TNR Gold's strategy, assets and long-term value creation.
• The dissident has offered only empty rhetoric and personal attacks, not a credible plan to create value for TNR Gold's shareholders.
• TNR Gold shareholders are facing a choice: seasoned, steady and professional hands with a proven record or someone posing as a koala, posting frivolous things and backed by mysterious funds.
• Shareholders are urged to reject the dissident green proxy, disregard Eucalyptus' materials and vote only the blue proxy for TNR Gold's nominees.
• Questions? need help voting blue? contact Kingsdale Advisors toll-free in North America at 1-855-476-7861 or by e-mail at contactus@kingsdaleadvisors.com. Visit the Vote TNR website.

"TNR Gold's focus remains exactly where it should be: on advancing our strategy, maximizing the value of our royalty portfolio and acting in the best interests of all shareholders," said Kirill Klip, executive chairman and chief executive officer. "We are grateful for the many shareholders who have reached out to us in recent days and look forward to continuing that dialogue. While others may choose to focus on empty rhetoric and personal attacks, we remain focused on strategic execution, experienced stewardship and long-term value creation."

Shareholders should carefully consider what is at stake at the meeting. This vote is about whether one self-serving shareholder should gain control of the company as TNR enters an important phase in the development of its business.

Koala offers cheap attacks, not a credible plan for TNR Gold

In its latest press release, the dissident repeats a series of personal attacks against management and the board (and now its advisers) while providing shareholders with no realistic theory about how its nominees would enhance TNR Gold's strategy, improve operating performance, advance the company's royalty interests, strengthen its financial position or create value beyond replacing the incumbent board.

Shareholders should not be distracted by empty rhetoric or cheap personal attacks. The board urges shareholders to reject the dissident green proxy, continue to disregard any materials or communications received from Koala and vote only the blue proxy for TNR's nominees.

Koala claims that his social media posts are single-handedly responsible for the company's strong share performance. Shareholders are urged not to entrust their investment to somebody who believes the company's success lies in frivolous posts on social media rather than established experience.

Questions? need help voting the blue proxy?

Shareholders who have questions or need assistance voting their common shares should contact Kingsdale Advisors, TNR Gold's strategic shareholder adviser.

Kingsdale Advisors

North American toll-free:   1-855-476-7861

Text and call number:  1-437-561-5018

Website:  Vote TNR website

Advisers

Norton Rose Fulbright Canada LLP is acting as legal counsel to TNR Gold. Kingsdale Advisors is acting as strategic shareholder adviser to TNR Gold.

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.

The company'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 the company'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 royalty on the Mariana lithium project in Argentina, of which 0.15 per cent of such NSR royalty is held on behalf of a shareholder of the company. Ganfeng Lithium's subsidiary, Litio Minera Argentina (LMA), has the right to repurchase 1.0 per cent of the NSR royalty on the Mariana project, of which 0.9 per cent 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 0.04 per cent of the 0.4-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 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.