Mr. Kirill Klip reports

TNR GOLD BOUGHT OVER 6 MILLION SHARES TO DATE UNDER NORMAL COURSE ISSUER BID

TNR Gold Corp. has purchased 6.1 million common shares of the company to date under its normal course issuer bid.

As announced on June 1, 2023, TNR Gold is conducting the bid, pursuant to which the company may purchase up to a maximum of 9,548,639 shares, representing approximately 5 per cent of the company's outstanding shares on June 1, 2023. No more than 2 per cent of the outstanding shares may be purchased in any 30-day period.

The company intends to terminate the bid on or about June 4, 2024. Purchases pursuant to the bid are being made from time to time by PI Financial Corp. on behalf of the company through the facilities of the TSX Venture Exchange. Shares purchased will be paid for with cash available from the company's working capital. All shares purchased pursuant to the bid will be returned to treasury as authorized and unissued shares.

The company is of the view that the recent market prices of its shares do not properly reflect the underlying value of the shares. No insiders of the company intend to participate in the bid.

"We are working on building the green energy metals royalty and gold company," commented Kirill Klip, executive chairman of TNR Gold. "Our business model provides a unique entry point in the creation of supply chains for critical materials like energy metals that are powering the energy revolution and the gold industry that is providing a hedge for this stage of the economic cycle.

"Our portfolio provides a unique combination of assets with exposure to multiple aspects of the mining cycle; the potential of blue-sky discovery at Shotgun gold project, and important partnerships with industry leaders like Ganfeng Lithium, McEwen Mining and Lundin Mining as operators on the projects that have the potential to generate royalty cash flows that will contribute significant value for the company.

"Last year we repaid our investment loan in full, and our company has no debt. We believe that the recent market prices of our shares do not properly reflect the underlying value of the shares, and the ongoing bid allows us to purchase shares in the market to help increase the share value for the company.

"We are very pleased that the Mariana lithium project is progressing smoothly towards commercial production scheduled for 2024. Representatives of Ganfeng Lithium confirmed to the Governor of Salta Gustavo Saenz that the Mariana project, on which construction began in June, 2022, will start producing, in 2024, an estimated 20,000 tonnes per year of lithium chloride. The government of Salta has stated that Ganfeng Lithium announced that the operational phase of the Mariana lithium project began in January, 2023. We are looking forward to our first NSR [net smelter return] royalty cash flow payments from the Mariana lithium project.

"TNR does not have to contribute any capital for the development of the Mariana lithium project, the Los Azules copper project or the Josemaria project. The essence of our business model is to have industry leaders like Ganfeng Lithium as operators on the projects that will potentially generate royalty cash flows to contribute significant value for our shareholders."

About TNR Gold Corp.

TNR Gold is working to become the green energy metal royalty and gold company.

We seek Safe Harbor.