Mr. Fausto Di Trapani reports

TIERNAN GOLD ANNOUNCES GRANT OF COMPENSATION SECURITIES

Tiernan Gold Corp. has granted an aggregate of 162,092 stock options, 743,896 restricted share units (RSUs), 15,795 deferred share units (DSUs) and 55,188 performance share units (PSUs) to certain eligible participants, including directors, officers and consultants of the company, pursuant to the company's omnibus equity incentive plan adopted on Oct. 16, 2025. The plan provides that the maximum number of common shares issuable under the plan, together with all other security-based compensation arrangements of the company, shall not exceed 10 per cent of the issued and outstanding common shares of the company at the time of any award grant.

Deferred share units

The company has granted an aggregate of 15,795 DSUs to non-executive directors of the company for the first quarter (Q1 2026). Each DSU entitles the holder to receive one common share of the company, a cash payment equal to the value of one common share of the company, a combination thereof or otherwise as determined at the sole discretion of the board of directors of the company, no earlier than the date on which the holder ceases to be an eligible participant under the plan.

Options

The company has granted an aggregate of 162,092 options to certain officers and consultants of the company. Each option entitles the holder to purchase one common share of the company at an exercise price of $9.06 per share. The option expires five years from the date of grant and vests in three equal annual instalments, with one-third vesting on each of the first, second and third anniversaries of the date of grant.

Restricted share units

The company has granted an aggregate of 743,896 RSUs to an officer of the company. Each RSU entitles the holder to receive one common share of the company, a cash payment equal to the value of one common share of the company, a combination thereof or otherwise as determined at the sole discretion of the board of directors of the company. Of the RSUs granted, 27,594 RSUs vest in three equal annual instalments on the first, second and third anniversaries of the date of grant, and 716,302 RSUs vest in three equal instalments on April 10, 2027, Dec. 19, 2027, and Dec. 19, 2028. The RSUs expire on April 9, 2031.

Performance share units

The company has granted an aggregate of 55,188 PSUs to an officer of the company. Each PSU entitles the holder to receive one common share of the company, a cash payment equal to the value of one common share of the company, a combination thereof or otherwise as determined at the sole discretion of the board of directors of the company, subject to the achievement of applicable performance criteria during the performance period and corresponding vesting conditions. The PSUs are subject to a three-year performance period. The PSUs expire on April 9, 2031.

The company's grants of options, RSUs, DSUs and PSUs are in addition to cash compensation fees payable to its officers, employees and non-executive directors.

About Tiernan Gold Corp.

Tiernan Gold is focused on the disciplined derisking of the Volcan gold project strategically located in the Atacama region of Chile, on the Maricunga gold belt, a jurisdiction that has a long-established history of mining with a number of operating mines, new mines under construction and major projects being developed.