Mr. Cameron Tymstra reports

TARGA ANNOUNCES GOLD-SILVER EXPLORATION PROGRAMS IN ARGENTINA

Targa Exploration Corp. has made coming exploration plans for its El Zanjon and Venidero gold-silver projects in Santa Cruz, Argentina, for 2026.

Highlights:

• Geological mapping and prospecting now under way at Venidero;
• Previously identified 2.5-kilometre-long Gorganzola vein (up to 4.45 grams per tonne at surface);
• Plan to cover northern half of the 10,736-hectare project;
• 2,000-to-2,500-metre fully financed maiden drill program planned for El Zanjon;
• Targeting low-sulphidation epithermal gold-silver systems such as Cerro Vanguardia;
• EIS (environmental impact statement) extension approved for Venidero, expecting EIS for El Zanjon shortly.

"We are excited to announce that fieldwork has begun at Venidero, where our EIS has already been approved," commented Targa chief executive officer Cameron Tymstra. "A field team will spend the next few weeks mapping roughly 5,000 hectares, looking for additional veins like the previously identified Gorganzola vein. Receipt of the EIS for El Zanjon is expected shortly as we are just completing an updated flora and fauna study in the areas where we plan to begin drilling. Pending receipt of the EIS, we are aiming to mobilize a drill to El Zanjon for a maiden drill program of at least 2,000 metres in late March. That drill program will be targeting low-sulphidation epithermal gold-silver systems, similar to what is seen 30 kilometres to the north at AngloGold's Cerro Vanguardia mine."

Venidero

A geological mapping and prospecting team has mobilized to the Venidero project, referred to as Morobayo on the mineral concession titles, and begun work mapping the northern half of the project on a 1:10,000 scale. The mapping work is expected to take two to three weeks to complete. Venidero's prospecting-level environmental impact statement, required for mapping and other low-impact fieldwork on the project, was approved earlier this month.

Previous work at Venidero, conducted by Rugby Resources, identified the Gorganzola vein traced on surface for 2.5 kilometres, surface samples from which have returned gold values up to 4.45 grams per tonne gold. A number of unsampled vein blocks and silica cap zones were also previously identified over an area of approximately five kilometres south of Gorganzola. The field team will also be sampling any previously unsampled or unidentified veins within this highly prospective mapping area at Venidero.

The Venidero project is located approximately 60 kilometres south of the Cerro Negro mine, operated by Newmont.

El Zanjon

The El Zanjon project, now covering 57,276 hectares, is located 30 kilometres south of AngloGold's Cerro Vanguardia mine and sits along the same major fault zone. The company is targeting a possible repeat on El Zanjon of the same structural and geological conditions that host the Cerro Vanguardia epithermal gold-silver mineralization.

EIS

Local contractors are currently completing several days of flora and fauna study in the areas of interest where Targa is planning its maiden drill program. This study is the final item outstanding to receive approval of the exploration-level environmental impact statement that will allow the company to drill at El Zanjon. Payment for the EIS has been made, and receipt of final approval is anticipated shortly.

Soil sampling

Three hundred thirty-three soil samples, taken in 2025, were sent to a lab for ionic leach geochemistry testing in early January. These samples were taken in the areas of interest, identified from earlier soil sampling and geophysics work, on a 40-metre sample spacing. The geochemistry results are expected in the next one to two weeks and will be used to assist with collar location selection for the first drill holes of the maiden drill program.

Drill program

Targa is planning a minimum of 2,000 metres of diamond drilling at the El Zanjon project, tentatively scheduled to begin in late March, pending receipt of the EIS, and to continue through April and May.

Geophysics and geochemistry work completed by Rugby Resources in previous work seasons has identified two large areas of interest where elevated gold and silver levels were observed in the ionic leach geochemistry from the soil samples. Ground magnetic surveys conducted at line spacings of 320 metres, 160 metres and, in some target areas, 80 metres have defined fault structures and flexures considered essential for hosting potential gold-silver mineralization like that seen at the Cerro Vanguardia and Cerro Moro vein systems. It is the combination of these structures with elevated gold-in-soil values, particularly in the northeastern area of the project, where Targa will be planning its initial drill holes.

Both the maiden drill program at El Zanjon and the fieldwork at Venidero are fully financed from the recently closed private placement (see press release dated Feb. 19, 2026).

Technical disclosure

The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Lorne Warner, PGeo, vice-president of exploration of Targa, who is a qualified person within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Warner is responsible for the technical content of this news release. Mr. Warner is not independent of the company.

The results disclosed in this news release related to exploration work conducted by Rugby Resources on the optioned projects. The company has not completed sufficient work to verify these results in accordance with NI 43-101 standards, and such results should not be relied upon without additional verification.

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. The company's focus is on early-stage projects in premier mining jurisdictions with strong potential for making Tier 1 grassroots precious metals discoveries. Targa's principal asset is its Opinaca gold project in Quebec, where widespread gold mineralization was recently discovered during a maiden drill campaign in 2025. The company is also initiation exploration programs on the Venidero and El Zanjon gold-silver projects in Santa Cruz, Argentina, where the company has an option to earn up to an 80-per-cent interest in each project.

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