Mr. Cameron Tymstra reports

TARGA ANNOUNCES UPSIZED NON-BROKERED PRIVATE PLACEMENT OF FLOW THROUGH SHARES FOR GROSS PROCEEDS OF UP TO $950,000

Targa Exploration Corp., due to significant investor demand, has increased the maximum gross proceeds of its previously announced non-brokered private placement (see news release dated Aug. 8, 2025) to $950,000. The offering will consist of the sale of flow-through (FT) shares of the company at a price of 15 cents per FT share.

Each FT share will be issued as a flow-through share, as defined in Subsection 66(15) of the Income Tax Act (Canada) and in Section 359.1 of the Quebec Tax Act, with respect to purchasers in Quebec.

The net proceeds of the offering will be used for exploration of the company's Opinaca gold project. The gross proceeds from the issuance of the FT shares will be used to incur eligible Canadian exploration expenses in Quebec that qualify as flow-through mining expenditures, as such terms are defined in the Income Tax Act (Canada). The company has agreed to renounce such qualifying expenditures with an effective date of no later than Dec. 31, 2025, in an amount of not less than the total amount of the gross proceeds raised from the issuance of FT shares and incur such expenses by Dec. 31, 2026.

Closing of the offering is anticipated to occur on or about Aug. 22, 2025, and is subject to customary closing conditions. In connection with the offering, the company may pay finders' fees to eligible finders. All securities issued in connection with the offering will be subject to a statutory hold period of four months and a day from the closing date.

About the Opinaca gold project

The Opinaca project is located in the James Bay region of Quebec, approximately 45 kilometres south of the all-season Trans-Taiga Road and 140 kilometres northeast of the Eleonore gold 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 and prospecting work in 2023 and 2024 has identified a seven-kilometre-long gold target trend near the centre of the project. Boulder sampling in 2024 returned a dozen boulders with anomalous (more than 0.1 gram per tonne (g/t)) gold values, including up to 6.7 g/t Au. A recent airborne magnetic survey has identified a four-kilometre magnetic anomaly at the centre of the gold trend.

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 kilometres. Targa is planning a maiden drill program at Opinaca in 2025.

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