Mr. Kirill Klip reports

TNR GOLD ANNOUNCES APPOINTMENT OF DIRECTOR

TNR Gold Corp. has appointed Leopold Sutton to its board of directors.

Mr. Sutton brings nearly a decade of experience in business transformation consulting, including the design and delivery of enterprise-wide change programs across FTSE 100 organizations. His analytical work has spanned business case development, impact assessments and governance oversight for complex business transformations.

He holds a chartered global management accountant designation from the Chartered Institute of Management Accountants, an MA in transformational leadership from Canterbury Christ Church University and a BSc in combined honours in natural sciences from the University of Durham.

The company also announces the resignation of Tobias Higgins from the board of directors to accommodate his new professional commitments.

Kirill Klip, the company's executive chairman, commented: "On behalf of the board of directors, we extend our sincere gratitude to Mr. Higgins for his valuable contributions to the company during his nearly three years of dedicated service. We wish him continued success and fulfilment in his future endeavours."

Mr. Klip added: "We are also pleased to welcome Mr. Sutton to the board. His extensive expertise in complex business transformations, particularly in financial transformation consulting, will strengthen the company's governance practices. His expertise will further support the audit committee and help ensure we continue to adhere to best practices in financial oversight."

About TNR Gold Corp.

TNR Gold is working to become the green energy metal royalty and gold company.

Its 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.

Its 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 its shareholders.

Over the past 29 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, has been recognized.

TNR holds a 1.5-per-cent net smelter return 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, 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 Argentine provincial government of Salta for an environmental impact report. Ganfeng officially inaugurated Mariana Lithium's start of production at a 20,000-ton-per-yearlithium chloride plant on Feb. 12, 2025.

TNR Gold also holds a 0.4-per-cent NSR royalty on 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. 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 Barrick Gold and 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, 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.

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