Mr. Cameron Tymstra reports

TARGA EXPANDS EL ZANJON GOLD-SILVER PROJECT AND ISSUES PAYMENT SHARES

Three additional exploration concessions have been granted for Targa Exploration Corp.'s El Zanjon gold-silver project, located in Santa Cruz, Argentina. The company has also issued the first tranche of option payment shares to Aegis Resources Ltd.

Highlights

• El Zanjon project expanded by 66 per cent from 34,521 hectares to 57,276 contiguous hectares;
• New concessions cover areas of interest and potential extensions of geochemical anomalies;
• A total of 1.25 million shares of Targa Exploration were issued to Aegis at a price of 20 cents per share.

"Previous geochemical sampling identified an area of interest that ran up to the edge of the old project boundary," commented Targa chief executive officer Cameron Tymstra. "This expansion of El Zanjon will cover any potential continuation of that trend to the northeast and help protect our project boundaries in the event of a discovery. We look forward to getting on the ground at both El Zanjon and Venidero in the first half of this year. We are putting together plans and budgets while we wait for approval of our updated environmental impact statements for both projects. We are currently anticipating receipt of approvals sometime in February."

El Zanjon expansion

Three additional exploration concessions at the El Zanjon project have been granted. The three concessions combined cover 22,755 ha, and sit at the north, east and southwest edges of the previous project limits.

The eastern extension concession covers 8,007 ha and was staked to cover any potential extension of the primary area of interest in the northeast area of the project previously identified by the soil sampling work conducted by Rugby Resources. The northern extension covers an area of 6,383 ha with some elevated gold values in the soil sampling work. The southwestern extension covers 8,365 ha of an unexplored area that the team believes may have potential for similar structural and geological conditions as other areas of interest.

The El Zanjon project now covers a total of 57,276 contiguous hectares of prospective ground in the prolific Deseado massif. The additional exploration concessions are subject to the same option agreement terms as the original claim group.

Shares issued to Aegis

As per the terms of the option agreements for the El Zanjon and Venidero projects, Targa has issued a total of 1.25 million shares of Targa to Aegis at a deemed price of 20 cents per share. These shares represent the first of three tranches of shares to be issued to Aegis. See Targa news release dated Nov. 10, 2025, for option agreement details.

Technical disclosure

The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Lorne Warner, PGeo, vice-president of exploration of Targa, who is a qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Warner is responsible for the technical content of this news release. Mr. Warner is not independent of the company.

The results disclosed in this news release related to exploration work conducted by Rugby Resources on the optioned projects. The company has not completed sufficient work to verify these results in accordance with National Instrument 43-101 standards, and such results should not be relied upon without additional verification.

About Targa Exploration Corp.

Targa Exploration is a Canadian exploration company engaged in the acquisition, exploration and development of gold mineral properties with headquarters in Vancouver, B.C. The company's focus is on early stage projects in premier mining jurisdictions with strong potential for making Tier 1 grassroots precious metals discoveries. Targa's principal asset is its Opinaca gold project in Quebec where a significant gold-in-till anomaly has been identified over a strike length of seven kilometres. The company has also recently acquired options to acquire interests in the Venidero and El Zanjon gold-silver projects in Santa Cruz, Argentina.

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