Mr. Kirill Klip reports

TNR GOLD WELCOMES CAN$4.2 MILLION STRATEGIC INVESTMENT BY ALTIUS MINERALS

TNR Gold Corp. plans to complete a private placement by Altius Resources Inc., a wholly owned subsidiary of Altius Minerals Corp. (TSX: ALS), for gross aggregate proceeds of approximately $4.2-million.

TNR and Altius Resources have entered into a subscription agreement dated April 2, 2026, pursuant to which Altius Resources has agreed to subscribe for and take up 23.5 million common shares in the capital of the company, representing approximately 9.9 per cent of TNR's issued and outstanding common shares on a postissuance basis, at an issue price per offered share equal to the 30-day volume-weighted average price (VWAP) of the shares for the 30 trading days prior to the date of the subscription agreement, being 17.75 cents per TNR share.

The proceeds of the strategic investment will be used to finance potential corporate development initiatives and for general corporate and working capital requirements. There is no person acting at the request of the company, or to the knowledge of the company, purporting to act who is entitled to any finder or other fiscal advisory or similar fee in connection with the offered shares or transactions contemplated herein.

Kirill Klip, executive chairman of TNR Gold, stated, "We are delighted to welcome Altius as a strategic, non-controlling investor in TNR Gold. This investment enables TNR Gold to advance the execution of its strategic plan and reflects strong market recognition of the quality of our assets and their potential."

Mr. Klip continued: "Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals, which are powering the 'Energy rEVolution,' and the gold industry that is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders. My holding of 27,263,000 common shares in TNR Gold serves as further evidence of my deep personal commitment to the company and strong confidence in our experienced team and its strategic development plan. We look forward to working with Altius to maximize value for all our shareholders."

Altius commented: "This investment is consistent with our well-established strategy of patiently acquiring minority equity positions in companies that hold royalties relating to high-potential mineral resource projects. The TNR royalty portfolio includes exposure to major copper and lithium deposits. These include the world-class Los Azules copper project and the recently commissioned Mariana lithium brine project, over which Altius also holds a direct royalty interest. We look forward to working constructively with the TNR team as its royalty portfolio and business continues to advance and mature."

The completion of the private placement is subject to customary conditions precedent, including approval of the TSX Venture Exchange, as well as the execution of the following agreements: (a) a right of first offer agreement, pursuant to which TNR will grant to Altius Royalty Corp., a wholly-owned subsidiary of Altius, a right of first offer on the sale of TNR's 1.35-per-cent net smelter returns royalty on the Mariana lithium project in Argentina and TNR's 0.36 per cent NSR royalty on the Los Azules copper project in Argentina (ROFO); and (b) a voting agreement, pursuant to which (i) TNR will grant to Altius Resources the right to participate in future private placements and certain other issuances of securities by TNR, such that Altius Resources may maintain its pro rata ownership of TNR following closing, and (ii) Altius Resources will agree to vote its TNR shares in favour of any directors nominated by TNR's management and other matters that are unanimously recommended by TNR's board of directors, for a period of five years from closing.

If entered into, the ancillary agreements will terminate automatically upon Altius Resources ceasing to own at least 6 per cent of TNR's issued and outstanding shares on a non-diluted basis.

About TNR Gold Corp.

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

We seek Safe Harbor.