Mr. Cameron Tymstra reports

TARGA ANNOUNCES EXPANSION OF DRILL PROGRAM AT OPINACA GOLD PROJECT

Targa Exploration Corp. has expanded the continuing diamond drilling program at its Opinaca gold project located in the James Bay region of Quebec.

Highlights

• Drilling progressing ahead of schedule and under budget;
• 2,513 metres and five drill holes completed as of the morning of Oct. 6;
• Approved expansion of drill program from 2,500 metres to 3,250 metres.

"Drilling has progressed very well at Opinaca," commented Targa chief executive officer Cameron Tymstra. "With five drill holes already complete we are comfortably ahead of schedule. The efficient work that Kenorland and Chibougamau Drilling are doing on site allows us to expand the drill program to include additional drill holes while maintaining the original budget. The goal of this program is to discover which bedrock lithology units are hosts to the gold that we have seen across an extensive area of till cover. The more holes we can drill, the greater our chances of discovery and we have already encountered several rock units of interest that are mineralized locally with up to half a percent pyrite, pyrrhotite and arsenopyrite over broad intervals."

Drill program expansion

The maiden drill program at Opinaca is being expanded from 2,500 metres (see press release dated Sept. 18, 2025) to approximately 3,250 m and is currently scheduled to be complete by Oct. 15.

The first five of six drill holes originally planned at the start of the program have been completed ahead of schedule. The expanded plan will include the lengthening and movement of the sixth original hole farther to the north. This hole is currently being drilled with a target depth of 575 metres and is collared in an area where multiple gold-bearing boulders were discovered in 2024. A seventh hole will be added to the north of hole No. 1 with a target depth of 525 m to target a quartz-rich meta-arenite unit mineralized with trace pyrite and pyrrhotite encountered in the top of hole No. 1 and seen in outcrop north of hole No. 1. If time and budget permit, an eighth hole will be added to test the head of a till train at the eastern limit of the geochemical footprint or an alternate target.

In addition to the meta-arenite in hole No. 1, several other mineralized intervals of note have been encountered in multiple drill holes. Sections of metawacke with two-toned bleaching halos containing very fine pyrite and trace arsenopyrite around thin quartz veinlets have been drilled in hole No. 2 and hole No. 3. A 25 m section of metawacke with 15-per-cent leucosome veinlets and local trace pyrite was also encountered in hole No. 2, which is located about two kilometres up-ice from a leucosome boulder sampled in 2024 that returned 0.6 gram per tonne Au (gold) (see press release dated Nov. 25, 2024). All core samples will be delivered to the lab once drilling is complete, with assays results expected mid to late November.

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 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 (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 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 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.

We seek Safe Harbor.