Mr. Cameron Tymstra reports

TARGA IDENTIFIES 4KM-LONG MAGNETIC ANOMALY AT OPINACA GOLD TREND

Targa Exploration Corp. has received results of an airborne magnetic survey conducted at the company's Opinaca gold project located in Quebec, Canada. The company has also submitted drill permit applications in preparation for a maiden drill program at Opinaca.

Highlights

• Four-kilometre-long magnetic anomaly identified at centre of target gold trend;
• Interpreted interaction of east-northeast-trending structures and fold hinges are ideal orogenic gold traps;
• Drill permit applications submitted.

"The coincidence of a large magnetic anomaly sitting directly below our previously identified seven km gold-in-till trend is a highly encouraging result and will help tremendously with drill targeting at Opinaca," commented Targa chief executive officer Cameron Tymstra. "We are working with Kenorland's technical team right now to plan a maiden drill program. That program will target the intersections of interpreted ENE-trending structures, lithological boundaries and fold hinges. These areas could potentially serve as classic traps for orogenic gold and are also coincident with the highest gold grain counts from previous HMC sampling and a cluster of anomalous gold-bearing boulders sampled in 2024. Permits for the program have been submitted and we expect to be drilling on these exciting new targets by mid-September."

Airborne magnetic survey

An airborne geophysical survey was conducted by ALS Goldspot Discoveries Ltd. ALS completed the survey using its multiparameter acquisition survey system via helicopter to collect high-resolution magnetic gradient and VLF-EM data over the main gold target trend at Opinaca. Survey lines were flown in a north-south direction at a line spacing of 50 metres over an area of roughly five kilometres by 8.5 kilometres, covering approximately 4,250 hectares. A total of 902.1 survey line kilometres were flown over a period of four days. Five hundred m spaced east-west tie lines were planned but not completed due to equipment malfunctions near the end of the survey.

Results of the magnetic survey show a large magnetic anomaly roughly four km in length east-west. This anomaly occurs below the centre of the seven m long gold-in-till trend identified from 2023 and 2024 field sampling.

Current interpretation of the survey is that of a lithological boundary between magnetic and non-magnetic paragneiss that has undergone multiple folding events and has been crossed by or interacted with two east-northeast-trending structures. A magnetic intrusive body has also been inferred from the survey located in the northeast quadrant of the anomaly.

First target areas

Multiple orogenic gold target areas have been identified where interpreted structures intersect with lithological boundaries and fold hinges, providing potential traps for gold. These target areas coincide with clusters of gold-bearing boulders discovered in 2024 and high gold grain counts from previous heavy mineral concentrate (HMC) sampling of the surface till.

This target is located at the nose of the interpreted fold hinge and contact with an east-northeast-trending structure. The highest concentration of gold boulders with greater than 0.1 g/t Au from the 2024 boulder prospecting program also occurs at this location, including the highest gold value found to date on the property of 6.67 g/t Au.

In this area the east-northeast-trending structure intersects the eastern boundary of the magnetic domain and is coincident with the highest gold grain count observed in HMC sampling of the till with 123 gold grains, approximately 70 per cent of which were considered pristine. Pristine gold grains can suggest a short travel distance from bedrock source.

The northwestern target area is located at the head of a string of HMC samples with very high gold grain counts and sits along the intersection of a east-northeast structure and the northern boundary of the magnetic domain.

Targa is currently working with its advisers and the technical team at Kenorland Minerals to design the maiden drill program for Opinaca. The drill program is being scheduled to start in mid-September, and the company will release further details as those materialize.

Qualified person

The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Adrian Lupascu, MSc, PGeo, exploration manager of Targa Exploration, who is a qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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. Targa's principal asset is its Opinaca gold project where a significant gold-in-till anomaly has been identified over a strike length of seven km. Targa is planning a maiden drill program for the Opinaca gold project in 2025.

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