TARGA ANNOUNCES EXPANSION OF DRILL PROGRAM AT OPINACA GOLD PROJECT

Executive Summary

• Targa Exploration Corp. announced the expansion of its diamond‑drill program at the Opinaca Gold Project from 2,500 m to approximately 3,250 m.
• To date, 2,513 m and five drill holes have been completed ahead of schedule and under budget; the expanded program is slated for completion by 15 Oct 2025.
• New targets include a lengthened sixth hole (575 m) and an additional seventh hole (525 m) to test quartz‑rich meta‑arenite and other mineralized units, with potential for an eighth hole pending time and budget.

Key Details

• Drill Progress: 2,513 m drilled across five holes as of 6 Oct 2025; program ahead of schedule and under original budget.
• Program Expansion: Total planned depth increased to ~3,250 m (≈+750 m). Completion target: 15 Oct 2025.
• Hole #6: Extended northward to a target depth of 575 m; collared in an area where gold‑bearing boulders were discovered in 2024.
• Hole #7: New hole north of Hole #1, targeting a quartz‑rich meta‑arenite unit; planned depth 525 m.
• Potential Hole #8: Contingent addition to test the head of a till train at the eastern limit of the geochemical footprint or an alternate target, subject to time/budget.
• Mineralized Intercepts (qualitative):
• Multiple drill holes intersected rock units with up to 0.5 % pyrite/pyrrhotite/arsenopyrite over broad intervals.
• Hole #2 & #3: Metawacke with two‑toned bleaching halos, fine pyrite, trace arsenopyrite around quartz veinlets.
• Hole #2: 25 m of metawacke containing 15 % leucosome veinlets and local trace pyrite; located ~2 km up‑ice from a 0.6 g/t Au boulder sampled in 2024.
• Assay Timeline: All core samples to be sent to the lab after drilling completion; assay results expected mid‑to‑late November 2025.
• Project Context: Opinaca covers 85,267 ha in James Bay region, ~45 km south of Trans‑Taiga Road and 140 km NE of Eleonore mine; historic till sampling identified a 7 km gold trend with boulder assays up to 6.7 g/t Au and a 4 km magnetic anomaly.
• Qualified Person: Adrian Lupascu, M.Sc., P.Geo., Exploration Manager (NI 43‑101 qualified).

Notable Quotes

“Drilling has progressed very well at Opinaca… 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 while maintaining the original budget.” – Cameron Tymstra, CEO

Materiality Assessment: Non‑Material – Positive (operational update with no immediate financial impact but indicative of favorable exploration progress).