Targa Exploration expands drilling program at Opinaca

Executive Summary

• Targa Exploration expands its Opinaca gold project drill program from 2,500 m to ~3,250 m, now ahead of schedule and under budget.
• Five of six originally planned holes are complete; a sixth hole is being deepened and a seventh hole added, with potential for an eighth pending time/budget.
• Multiple mineralized intervals encountered, including quartz‑rich meta‑arenite, metawacke with pyrite/arsenopyrite veining, and a 25 m leucosome zone; assays expected mid‑ to late‑November.

Key Details

• Drilling Progress: 2,513 m drilled across five holes as of Oct 6, ahead of the original schedule.
• Program Expansion: Approved increase to ~3,250 m total drilling, with completion targeted for Oct 15.
• Hole Status:
• Holes 1‑5 completed; Hole 6 being extended northward to a target depth of 575 m (collared near gold‑bearing boulders discovered in 2024).
• New Hole 7 planned north of Hole 1, targeting 525 m to intersect quartz‑rich meta‑arenite mineralized with trace pyrite and pyrrhotite.
• Potential Hole 8 to test till train at eastern geochemical limit if budget permits.
• Mineralized Intercepts:
• Meta‑arenite in Hole 1 (trace pyrite/pyrrhotite).
• Metawacke with two‑toned bleaching halos, fine pyrite and trace arsenopyrite in Holes 2 & 3.
• 25 m of metawacke containing ~15% leucosome veinlets and local trace pyrite in Hole 2 (near a 0.6 g/t Au boulder sampled in 2024).
• Assay Timeline: All core samples to be sent to the lab after drilling; assay results anticipated mid‑ to late‑November 2025.
• Project Context: Opinaca covers 85,267 ha in Quebec’s James Bay region; prior work identified a 7 km gold‑bearing till trend with historic boulder assays up to 6.7 g/t Au and a 4 km magnetic anomaly.

Notable Quotes

“Drilling has progressed very well at Opinaca… we are comfortably ahead of schedule… the efficient work … allows us to expand the drill program while maintaining the original budget.” – Cameron Tymstra, CEO

Qualified Person: Adrian Lupascu, MSc, PGeo, Exploration Manager (NI 43‑101).