Mr. Cameron Tymstra reports

TARGA ANNOUNCES CLOSE OF PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $1M

Targa Exploration Corp., further to the company's news releases dated Aug. 8, 2025, and Aug. 15, 2205, has closed its previously announced private placement for aggregate gross proceeds of approximately $1,007,375.

Pursuant to the closing of the offering, the company issued 6,715,834 flow-through 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.

In connection with the offering, the company paid finders' fees of an aggregate of $50,092.51 in cash and issued an aggregate of 333,950 finders' warrants of the company to certain eligible arm's-length finders. Each finder's warrant entitles the finder to purchase one common share of the company at a price of 30 cents per finder's warrant share until Aug. 25, 2027.

All securities issued pursuant to and in connection with the closing of the offering, including finders' warrant shares issuable upon the exercise of finders' warrants, are and will be subject to a hold period expiring Dec. 26, 2025.

About the Opinaca gold project

The Opinaca project is located in the James Bay region of Quebec, approximately 45 kilometres (km) south of the all-season Trans-Taiga Road and 140 km 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 km 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 tone (g/t)) gold values, including up to 6.7 g/t gold (Au). A recent airborne magnetic survey has identified a four km magnetic anomaly at the centre of the gold trend.

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 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.

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