Tiernan Gold Announces Grant of Compensation Securities

Executive Summary

• Tiernan Gold Corp. announced the grant of compensation securities under its Omnibus Equity Incentive Plan to an eligible participant.
• The grant consists of 10,066 stock options, 104,544 restricted share units (RSUs), and 9,089 performance share units (PSUs), all subject to a three-year vesting schedule.
• The grants are administrative in nature, supplementing standard cash compensation and remaining within the Plan's 10% share limit.

Key Details

• Aggregate Grant: 10,066 stock options, 104,544 RSUs, and 9,089 PSUs granted to an eligible participant.
• Stock Options: Exercise price set at $8.35 per share; expire five years from the grant date; vest in three equal annual installments (one-third on each of the first, second, and third anniversaries).
• Restricted Share Units (RSUs): Each RSU entitles the holder to one common share, a cash payment equal to the share's value, or a combination, at the Board's discretion; expire five years from grant date; vest in three equal annual installments.
• Performance Share Units (PSUs): Subject to a three-year performance period and applicable performance criteria; expire on April 8, 2031; vest based on achievement of performance targets.
• Plan Limitations: The maximum number of common shares issuable under the Omnibus Equity Incentive Plan, combined with all other security-based compensation arrangements, shall not exceed 10% of the issued and outstanding common shares at the time of any award grant.
• Compensation Context: These grants are in addition to cash compensation fees payable to officers, employees, and non-executive directors.
• Signatory: Fausto Di Trapani, CEO and Director.