Targa begins mapping, prospecting at Venidero

Executive Summary

• Targa Exploration Corp. has announced its 2026 exploration plans for its El Zanjon and Venidero gold-silver projects in Santa Cruz, Argentina, fully financed by a recently closed private placement.
• Fieldwork has commenced at the Venidero project, including geological mapping and prospecting of the northern half of the 10,736-hectare property, targeting the previously identified Gorganzola vein.
• A maiden drill program of at least 2,000 metres is planned for the El Zanjon project, tentatively scheduled to begin in late March pending final Environmental Impact Statement (EIS) approval.

Key Details

• Venidero Project Activities:
  • Geological mapping and prospecting are currently underway on a 1:10,000 scale.
  • The field team is mapping approximately 5,000 hectares (the northern half of the 10,736-hectare project).
  • Work is expected to take two to three weeks to complete.
  • The prospecting-level EIS for Venidero was approved earlier in the month.
  • Previous work by Rugby Resources identified the Gorganzola vein, traced on surface for 2.5 kilometres, with surface samples returning gold values up to 4.45 grams per tonne.
  • The team will also sample unsampled vein blocks and silica cap zones identified over an area of approximately five kilometres south of Gorganzola.
  • Located approximately 60 kilometres south of Newmont’s Cerro Negro mine.
• El Zanjon Project Drilling Plan:
  • Planning a minimum of 2,000 to 2,500 metres of diamond drilling.
  • Tentative schedule: Late March through April and May, pending EIS receipt.
  • The project covers 57,276 hectares and is located 30 kilometres south of AngloGold’s Cerro Vanguardia mine.
  • Targeting low-sulphidation epithermal gold-silver systems similar to Cerro Vanguardia.
  • EIS approval is anticipated shortly; payment has been made, and a final flora and fauna study is being completed.
• Geochemistry and Geophysics:
  • 333 soil samples taken in 2025 were sent for ionic leach geochemistry testing in early January.
  • Results expected in one to two weeks to assist with collar location selection.
  • Previous ground magnetic surveys (line spacings of 320m, 160m, and 80m) have defined fault structures and flexures.
  • Initial drill holes will target the northeastern area of the project where elevated gold-in-soil values coincide with structural features.
• Financing:
  • Both the El Zanjon drill program and Venidero fieldwork are fully financed from a private placement closed on February 19, 2026.
• Technical Disclosure:
  • Reviewed by Lorne Warner, PGeo, Vice-President of Exploration.
  • Historical results from Rugby Resources are disclosed but have not been verified by Targa to NI 43-101 standards.

Notable Quotes

• "We are excited to announce that fieldwork has begun at Venidero, where our EIS has already been approved... A field team will spend the next few weeks mapping roughly 5,000 hectares, looking for additional veins like the previously identified Gorganzola vein." — Cameron Tymstra, CEO
• "Receipt of the EIS for El Zanjon is expected shortly as we are just completing an updated flora and fauna study in the areas where we plan to begin drilling. Pending receipt of the EIS, we are aiming to mobilize a drill to El Zanjon for a maiden drill program of at least 2,000 metres in late March." — Cameron Tymstra, CEO