TARGA ANNOUNCES UPDATE AND OBSERVATIONS FROM OPINACA DRILL PROGRAM

Executive Summary

• Targa announced completion of seven drill holes (3,272 m) at the Opinaca Gold Project with a final eighth hole near completion, bringing total planned drilling to ~3,620 m.
• Hole 7 (25OPDD007) intersected >10 grains of visible gold at 460 m within a quartz‑pegmatitic vein associated with pyrite and arsenopyrite – the first visible gold observed in core at Opinaca.
• All drill core will be sent to laboratory for assay analysis, with results expected before year‑end.

Key Details

• Drilling Progress: 7 holes completed; total depth drilled = 3,272 m as of Oct 13 2025.
• Final Hole: Target depth ≈ 350 m; anticipated completion within 1–2 days; projected cumulative meterage ≈ 3,620 m.
• Visible Gold Observation: Hole 7 (25OPDD007) at 460 m showed >10 grains of visible gold on both sides of core in a quartz‑pegmatitic vein with pyrite, arsenopyrite, moderate chlorite, and weak calcite alteration.
• Geological Context: Vein hosted in fine‑grained dark green metawacke; overlying metaquartzite unit mineralized with pyrite/pyrrhotite and underlying metawacke with pyrite/arsenopyrite.
• Assay Timeline: All core to be shipped together for laboratory analysis; assay results expected before the end of 2025.
• Project Background: Opinaca covers 85,267 ha in James Bay region, ~45 km south of Trans‑Taiga Road; 7 km gold‑bearing till anomaly identified; 2024 boulder sampling returned up to 6.7 g/t Au.
• Qualified Person: Adrian Lupascu, M.Sc., P.Geo., Exploration Manager (NI 43‑101 QP).

Notable Quotes

“This is the first occurrence of visible gold at Opinaca… Visible gold in the core is always exciting, especially on a maiden drill program.” – Cameron Tymstra, CEO & President, Targa Exploration Corp.