Mr. Cameron Tymstra reports

TARGA ANNOUNCES FINAL PERMITS RECEIVED AND DRILL RIG MOBILIZED TO EL ZANJON GOLD SILVER PROJECT, SANTA CRUZ, ARGENTINA

Targa Exploration Corp. has received the final water permit from the Santa Cruz Ministry of Energy and Mining's Secretary of State for Water Resources to support a fully financed drill program at its El Zanjon gold-silver project in Santa Cruz, Argentina. A crew, led by Targa's local technical services partner, Biz Latin Hub S.A. (BLH), has begun mobilizing a camp and drill to the road accessible El Zanjon project with drilling expected to commence during the first week of May.

Highlights

• All permits for exploration drilling now received;
• Camp, crew and equipment have begun mobilizing to El Zanjon project;
• Drilling anticipated to commence during the first week of May;
• Plan for 11 drill holes totalling 2,250 metres;
• Targeting two areas of interest identified from soil geochemistry and geophysics;
• Susy Horna joins Targa as corporate secretary.

"With final permits now in hand, we have begun mobilizing the necessary camp, equipment and crews to site," commented Targa chief executive officer Cameron Tymstra. "Our local partner, Biz Latin Hub, has secured the necessary contractors and will be managing Targa's first drill program at El Zanjon in Santa Cruz, Argentina. Our team is very excited to be testing these high-priority targets in such a prolific epithermal gold-silver district."

El Zanjon drill program

The goal of the El Zanjon drill program is to search for low-sulphidation epithermal gold-silver systems similar to those that host the Cerro Vanguardia mine, located 30 kilometres north of the project. Targa's team believes there is strong potential at El Zanjon to find geological and structural conditions similar to Cerro Vanguardia based on existing geophysical and geochemical data. This maiden drill program will begin testing that theory by targeting the confluence of elevated gold and silver values seen in the soil geochemistry with interpreted structures from ground magnetic and magneto telluric data previously collected by Rugby Resources (see Rugby news release from May 15, 2023).

The first nine holes of Targa's program will target the northeastern area of interest with three drill fences consisting of two holes each and one drill fence of three holes. Drill holes are planned for a depth of between 200 and 250 metres. Two holes will also be used to test targets in the northwestern area of interest. All of these targets show elevated gold-in-soil values above interpreted structures.

Bedrock on the project is covered with tertiary sediment. This cover is anticipated to be between 30 and 50 m in thickness in the target areas.

New corporate secretary

Targa is also pleased to announce the appointment of Susy Horna to the role of corporate secretary, effective May 1. Originally from Peru, Ms. Horna brings numerous years of experience in the legal aspects of the mining, oil and gas, and shipping industries. Prior to joining Targa Exploration, Ms. Horna served as manager, corporate records and governance for First Majestic Silver Corp., and prior to the acquisition by First Majestic Silver Corp. as corporate secretary of Gatos Silver Inc. Ms. Horna has also served as corporate secretary for various public and private companies within the Augusta Group of companies, and as paralegal for Pacific Northwest LNG, Seaspan Corp. and Southwestern Resources Corp., where she was responsible for diverse matters relating to corporate and securities law, in particular, corporate governance and continuous disclosure.

The company would like to sincerely thank outgoing corporate secretary, Jen Hanson, for the professionalism, experience and wisdom she has brought to Targa over the past few years, and for helping to build Targa's strong foundations as a public company.

About Biz Latin Hub

Known locally as Empresa Minera Biz Latin Hub S.A., BLH is a privately owned company. Two of BLH's principals include Fernando Chacon and Diego Gargano, both professional Argentinian geologists with decades of mineral exploration and project management experience throughout Argentina. Mr. Chacon and Mr. Gargano have been retained by Targa to manage the El Zanjon drill program. The mineral concessions and permits that make up the El Zanjon project are currently held in the name of BLH. BLH is a party to the underlying option agreement for the El Zanjon project (see option agreement details in press release dated Nov. 10, 2025).

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 El Zanjon. The company has not completed sufficient work to verify these results in accordance with NI 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 widespread gold mineralization was recently discovered during a maiden drill campaign in 2025. The company has also recently acquired options to earn up to 80-per-cent equity interests in the Venidero and El Zanjon gold-silver projects in Santa Cruz, Argentina.

We seek Safe Harbor.