Mr. Cameron Tymstra reports

TARGA CLOSES FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FOR AGGREGATE GROSS PROCEEDS OF C$3,191,935

Further to the news releases dated Aug. 13, 2026, Aug. 25, 2026, Sept. 8, 2026, and Sept. 9, 2026, Targa Exploration Corp. has closed the fourth and final tranche of its previously announced private placement for an additional 190,750 hard-dollar units of the company at a price of 16 cents per HD unit and 800,378 flow-through units of the company at a price of 18.5 cents per FT unit for gross proceeds of approximately $178,590. A total of 10,554,783 FT units, 2,788,750 HD units and 3,605,000 premium flow-through units were issued by the company under the offering for aggregate gross proceeds of $3,191,935.

Pursuant to the fourth tranche closing, each FT unit will qualify as a flow-through share pursuant to Subsection 66(15) of the Income Tax Act (Canada) and in Section 359.1 of the Taxation Act (Quebec).

Each unit will consist of one common share of the company and one-half of a common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of 30 cents per warrant share until the date which is 24 months following the closing date of the fourth tranche of the offering, subject to an acceleration clause. If the 10-day volume-weighted average trading price of the shares as quoted on the Canadian Securities Exchange is equal to or greater than 60 cents at the close of any trading day, then the company may, at its option, accelerate the expiry date of the warrants by issuing a press release announcing that the expiry date of the warrants shall be deemed to be on the 30th day following the issuance of the warrant acceleration press release. All warrants that remain unexercised following the accelerated expiry date shall immediately expire, and all the rights of holders of such warrants shall be terminated without any compensation to such holder.

The net proceeds of the offering will be used for exploration of the company's mineral exploration projects and for working capital purposes. The company will use an amount equal to the gross proceeds from the sale of the FT units 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 will renounce all such qualifying expenditures, in favour of the subscribers of the FT units, on or before Dec. 31, 2026, in an amount of not less than the total amount of the gross proceeds raised from the issuance of FT units and incur such qualifying expenditures on or before Dec. 31, 2027.

In connection with the offering, the company paid finders' fees of an aggregate of $138,186 in cash and issued an aggregate of 777,394 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. The finders' warrants issued pursuant to the offering will have an expiry date that is 24 months following the closing of each tranche of the offering.

Certain insiders of the company subscribed for an aggregate of 686,358 units for gross proceeds of $113,070 under the offering. Participation by the insiders of the company in the offering constitutes a related-party transaction as defined under the Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The issuance of these securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 as the company's common shares are listed on the exchange. The issuance of these securities is also exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(b) of MI 61-101 as the fair market value was less than $2.5-million.

Closing of the offering is subject to customary closing conditions, and all securities issued pursuant to the fourth tranche of the offering, including shares issuable upon the exercise of warrants or finders' warrants, are and will be subject to a hold period of four months and one day after the date of closing of the fourth tranche of the offering.

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

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