Mr. Cameron Tymstra reports

TARGA ISSUES SHARES TO COMPLETE PROPERTY ACQUISITIONS

Targa Exploration Corp. has issued shares to Kenorland Minerals and a party of vendors (the Northern Lithium vendors) to complete property acquisition obligations.

Targa chief executive officer Cameron Tymstra commented: "This last issuance of shares to Kenorland represents our final obligation for the 100-per-cent acquisition of our Opinaca gold and lithium project. Our focus for this year remains on Opinaca, where we are eagerly awaiting results of the recently completed field program."

Kenorland share issuance

As per the terms of the original acquisition agreement with Kenorland, dated Dec. 12, 2022, for the Opinaca and Superior projects in Quebec and Manitoba, respectively, Targa has now issued an additional 948,925 shares to Kenorland. This is the final payment due to Kenorland for the acquisition. Targa owns a 100-per-cent interest in the Opinaca and Superior projects, subject to a 3-per-cent net smelter returns royalty held by Kenorland.

Northern Lithium share issuance

Targa and the Northern Lithium vendors entered into an agreement dated July 19, 2024, pursuant to which Targa agreed to issue 4,099,999 shares of the company at a deemed price of 9.21612 cents per share to settle the remaining $377,860.86 cash payment due to the Northern Lithium vendors in consideration for the acquisition of five mineral properties in Quebec and Ontario (the properties). This represents the final obligation to the Northern Lithium vendors and Targa is now the 100-per-cent owner of the properties subject to a 1-per-cent net smelter returns royalty payable to the Northern Lithium vendors. The original asset purchase agreement was entered into on Dec. 22, 2023.

About the Opinaca project

The Opinaca project is located in the James Bay region of Quebec, approximately 40 kilometres south of Patriot Battery Metals' Corvette lithium discovery, 45 km south of the all-season Trans-Taiga Road and 120 km northwest of the Renard diamond mine. The Opinaca project covers 85,267 contiguous hectares of the Opinaca geological subprovince, dominantly a metasedimentary region with neoarchean-aged igneous intrusions including of the Vieux Comptoir suite of granites. Till sampling in 2023 uncovered a five-kilometre-by-four-kilometre gold/arsenic/tungsten anomaly in the centre of the project as well as a higher-grade gold and lithium anomaly to the east.

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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