Mr. Cameron Tymstra reports

TARGA COMPLETES NEXT PHASE OF WORK AT OPINACA GOLD PROJECT; IDENTIFIES HEADS OF TWO LARGE DISTINCT TILL ANOMALIES

Targa Exploration Corp. has completed the next phase of exploration fieldwork at the company's flagship Opinaca gold and lithium project, located in the James Bay region of Quebec.

Highlights:

• 2,588 regional and in-fill till samples taken near previously identified gold anomalies;
• 72 heavy mineral concentrate samples to look for gold grains;
• Over 130 rock samples from boulders and outcrops;
• Lab results expected in August with plans for additional fieldwork in September.

"With the help of our project operators, Kenorland Minerals, we have completed another safe and efficient field program at Opinaca," commented Targa chief executive officer Cameron Tymstra. "Utilizing a portable XRF machine in camp, we were able to quickly determine the key areas of interest based on arsenic values in the till. This allowed for the placement of the in-fill till sampling grids and provided our geology team with a narrowed down field to focus their prospecting efforts on. With nearly 2,800 till, HMC and rock samples now at the lab, we are eagerly waiting for results which we expect to start seeing in August. These results will help us plan for a follow-up field program in September."

Opinaca exploration program

The main goal of this phase of exploration was to identify the heads of the two gold-in-till anomalies identified during 2023 sampling. Till sampling continued at a one-kilometre line spacing with samples tested in camp with a portable X-ray fluorescence (pXRF) machine to estimate arsenic values. Arsenic had a strong correlation with gold in the lab results from 2023 and was used as a proxy for gold in the field to identify the heads of the till trains where in-fill till sampling on 250-metre line spacing continued. Field measurements with a pXRF are not as reliable as those obtained in a lab and the field results will be reconciled with the lab results when they are received.

Two very clear and distinct till train heads were successfully identified one to four kilometres (km) up ice from the 2023 anomalies. A third area of interest was also identified by the Kenorland team. These areas will be the focus of future exploration.

A total of 2,588 till samples were taken in this phase of work, all of which have since been submitted to a lab for analysis. Results of the till samples are expected in August.

Boulder and outcrop prospecting

Targa's four-person geology and prospecting crew, led by exploration manager Adrian Lupascu, PGeo, conducted an extensive prospecting and mapping program in the target areas and took over 130 samples from outcrops and boulders. Several outcrops and boulders with disseminated arsenopyrite were identified, as well as a field of actinolite boulders in close proximity to the highest-grade gold till results from 2023.

HMC samples

A total of 72 heavy mineral concentrate (HMC) samples were taken in the areas of the gold and lithium anomalies identified in 2023. The 10-kilogram samples of the till were sent to a lab for separation into density fractions and will be analyzed under a microscope to look for and count gold grains to assess their quantity and shape. Gold grain shape can indicate possible travel distances and aid in narrowing down bedrock source locations. Preliminary gold grain counts are expected in three to four weeks.

Next phase of work

The Targa geology team will have another opportunity to return to Opinaca in September to follow up on the expected results and to continue exploring for bedrock sources of gold. The detail of the next phase of exploration will be dependent on results and more detail will be provided in August.

About Targa Exploration Corp.

Targa Exploration is a Canadian exploration company engaged in the acquisition, exploration and development of gold and lithium mineral properties with headquarters in Vancouver, B.C. Targa's project portfolio consists of 15 projects in the provinces of Quebec, Ontario, Manitoba and Saskatchewan and covers over 400,000 hectares of prospective ground, most of which has never been explored previously for lithium or gold.

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