Mr. Cameron Tymstra reports

TARGA ANNOUNCES START OF DRILLING AT OPINACA GOLD PROJECT

Drilling has commenced at Targa Exploration Corp.'s Opinaca gold project located in the James Bay region of Quebec. Kenorland Minerals is acting as project operator and managing the maiden drill program at Opinaca.

Highlights:

• A minimum of 2,500 metres of core drilling planned;
• Average depth hole depth of 415 m;
• Targeting intersection of magnetic domain boundary and interpreted structures;
• Drill holes located at head of gold-in-till trains.

"It is always an exciting time when the first drill hole starts advancing on a new project," commented Targa chief executive officer Cameron Tymstra. "We have spent the past two years homing in on these gold targets at Opinaca, and I would like to thank our team, contractors and the Kenorland crew for their efforts that helped get us to this point. The closest historic drill collar is 20 kilometres away in a different geological subprovince, so we are truly exploring in uncharted territory. We have seen a lot of gold in the glacial overburden. Hopefully, we will soon have an answer as to where it's all coming from."

Drill program

The maiden drill program at Opinaca is planned to test the large four-kilometre-long magnetic anomaly that sits below the significant gold-in-till signature discovered from 2023 and 2024 surface sampling (see press releases dated Jan. 16 and Nov. 25, 2024).

Kenorland Minerals is continuing to act as project operator at Opinaca with the drilling being conducted by Chibougamau Diamond Drilling of Quebec. Drilling commenced on night shift of Sept. 14 and is expected to take approximately 30 days to complete. Drilling and support crew are based out of the Winsome camp on the all-season Trans-Taiga road and travelling to and from site by helicopter.

The drill program will consist of a minimum of 2,500 metres of diamond core drilling. The first six holes are planned as three fences of two holes, each ranging from 340 to 450 m deep, with an average hole depth of 415 m.

The first drill fence will test the magnetic domain boundary at the head of a one-kilometre-long string of heavy mineral concentrate samples that all returned more than 40 grains of gold each. The second fence will target what is interpreted as a possible nose of a fold hinge in an area with the highest concentration of boulders with greater than 0.1 gram per tonne gold, including the highest value found to date on the property of 6.67 g/t Au. The third fence will target an area of interest with the highest gold grain count from HMC sampling of 123 gold grains.

Targa's drill permits for Opinaca cover 20 drill pad locations around the magnetic and geochemical anomaly. If time and budget permit and based on observations of drill core from the first holes, significant optionality exists for moving the drill rig to alternative locations.

Wildwood Exploration Inc. settlement

Targa and Wildwood have agreed to eliminate the final $315,000 cash payment due to Wildwood for the purchase of the Leaf River, Ungava and Musquaro properties (see press releases dated April 17 and May 11, 2023) in exchange for the issuance of a total of 600,000 common shares of Targa.

About the Opinaca gold project

The Opinaca project is located in the James Bay region of Quebec, approximately 45 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 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 (greater than 0.1 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.

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, 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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