Mr. Cameron Tymstra reports

TARGA ANNOUNCES COMPLETION OF PHASE 2 DRILL PROGRAM AT OPINACA

Targa Exploration Corp. has completed its phase 2 diamond drill program at the company's Opinaca gold project, located in the James Bay region of Quebec. This program is a follow-up to the grassroots gold discovery made at Opinaca during the 2025 maiden drill campaign (see press release dated Jan. 21, 2026). A total of 4,317 metres were drilled in 10 diamond drill holes (26OPDD009 to 26OPDD018). Assay results from the program are pending.

Highlights:

• Total of 4,317 metres drilled in 10 diamond drill holes (26OPDD009 to 26OPDD018);
• 3,891 metres drilled in nine holes on the Western target; 426 metres drilled in one hole on the Eastern target;
• Drill program operated by Kenorland and completed safely, on time and on budget;
• All drill core samples delivered to Bureau Veritas laboratory in Timmins, Ont.;
• Assay results expected by mid-November, 2026.

"This is our first drill program back at Opinaca since announcing our grassroots gold discovery earlier this year," commented Targa chief executive officer Cameron Tymstra. "This year's drill campaign focused on expanding on the four-kilometre-long mineralized trend identified last year, gaining a better understanding of the factors controlling the gold mineralization and testing additional targets. Opinaca is a large, complex gold system, and every drill hole brings us one step closer to finding the system's centre of mass. All drill core samples have been delivered to the lab for assay and we are looking forward to those results, currently expected in November. I would like to thank Kenorland's team, who served as our project operator at Opinaca for a fourth season, and everyone involved in the project this year for completing a safe, smooth and efficient campaign. While waiting for assays, petrographic and structural analysis work is being planned to complement the drill results and help us prepare for the next phase of drilling at Opinaca, which can be conducted in both the summer and winter seasons."

Phase 2 drill program

The phase 2 program was designed to test the along-strike continuity of gold mineralization discovered during the 2025 maiden drill program and to test the Eastern target for the first time with the drill bit (see Aug. 6, 2026 news release). Nine holes totalling 3,891 metres were completed at the Western target, and one hole totalling 426 metres was completed at the Eastern target.

Sample shipment and assay timing

A total of 3,598 samples were collected from the phase 2 drilling program. In addition, 22 samples were collected from the field mapping and prospecting campaign. All samples have been shipped from Winsome camp to Bureau Veritas Commodities (BV) laboratory in Timmins, Ont. Based on an anticipated laboratory turnaround of approximately eight weeks, assay results are expected in mid-November, 2026.

Petrographic and structural studies at Opinaca

A representative suite of drill core samples reflecting the main lithologies and mineralization styles encountered to date at Opinaca has been selected and shipped for petrographic analysis. In addition, the company is in the process of engaging a structural geology specialist to review core and assist in understanding the metamorphic and mineralization history at Opinaca. This work is expected to help with drill targeting in future campaigns.

Quality assurance and core sampling protocols

All drill core samples were collected under the supervision of licensed Kenorland geologists. Drill core was transported from the drill platform to the logging facility, where it was logged, photographed and split by diamond saw prior to being sampled. Samples were then bagged, and blanks and certified reference materials were inserted at regular intervals. Groups of samples were placed in large bags, sealed with numbered tags to maintain chain of custody and transported from the Winsome camp to BV's laboratory in Timmins, Ont.

Sample preparation for this drill program will be carried out by BV according to method PRP70-250: Individual samples will be crushed to two millimetres (10 mesh) and a 250-gram split will be pulverized to 75 microns (200 mesh) for analysis. Gold in samples will be analyzed using BV method FA430, where a 30-gram split is analyzed by fire assay with lead collection and an AAS finish. Overlimit gold samples will be reanalyzed using BV method FA530, where a 30-gram split is analyzed by fire assay with lead collection and a gravimetric finish. Multielement geochemical analysis (45 elements) will be performed on all samples using BV method MA200, where a 0.25-gram split is analyzed by multiacid digest with ICP-MS/ES finish.

Qualified person

Cedric Mayer, MSc, PGeo (OGQ No. 02385), senior project geologist at Kenorland, a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release.

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 100-per-cent-owned Opinaca gold project in Quebec, subject to a 3-per-cent net smelter return royalty held by Kenorland Minerals, where widespread gold mineralization was discovered during a maiden drill campaign in 2025. The company has also recently acquired options to acquire up to an 80-per-cent interest in the Venidero (Morobayo) and El Zanjon gold-silver projects in Santa Cruz, Argentina.

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