Targa Closes Asset Acquisition

CSE: TEX | OTCQB: TRGEF | FRA: V6Y

FOR IMMEDIATE RELEASE January 10, 2024

TARGA CLOSES ASSET ACQUISITION

Vancouver, British Columbia (January 10, 2024) – Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB:

TRGEF) (“Targa” or the “Company”) today announced it has closed its previously announced acquisition of

additional exploration assets in Quebec and Ontario.

Asset Acquisition Closing

Further to the Company’s news releases dated October 3, 2023 and December 22, 2023, it has completed the

acquisition (the “Acquisition”) of a 100% interest in five lithium projects covering 137,000 hectares in Quebec

and Ontario (the “Properties”) from a party of vendors (collectively, the “Vendors”) and 1384025 B.C. Ltd

(“Northern Lithium”).

Pursuant to the Acquisition, Targa has issued a total of 7,500,001 common shares of the Company (the

“Consideration Shares”) to the Vendors and granted a 1% production royalty on the Properties in favour of

Northern Lithium. Targa has also made aggregate cash payments of $377,860.86 to the Vendors to date, with

an additional payment of $377,860.86 to be paid on June 15, 2024.

Please refer to the Company’s news release dated October 3, 2023 for additional details regarding the

Properties.

Kenorland Minerals Shares

Targa has also issued an additional 1,459,918 shares of the Company, representing 9.9% of the shares issued

in the recently closed financing, to Kenorland Minerals pursuant to the original purchase agreement for the

Opinaca and Superior projects.

About Targa

Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB: TRGEF) is a Canadian lithium exploration company

engaged in the acquisition, exploration, and development of lithium mineral properties with headquarters in

Vancouver, British Columbia. Targa’s lithium project portfolio consists of fifteen projects in the provinces of

Quebec, Ontario, Manitoba, and Saskatchewan and covers over 400,000 hectares of prospective ground, most

of which has never been explored previously for lithium.

Contact Information: For more information and to sign-up to the mailing list, please contact:

Cameron Tymstra, CEO and President

Tel: 416-668-1495

Email: [email protected]

Website: www.targaexploration.com

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release includes certain “Forward-Looking Statements” within the meaning of the United States Private

Securities Litigation Reform Act of 1995 and “forward-looking information” under applicable Canadian securities laws.

When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”,

“may”, “would”, “could”, “schedule” and similar words or expressions, identify forward-looking statements or

information. These forward-looking statements or information relate to, among other things: the exploration and

development of the Company’s properties.

Forward-looking statements and forward-looking information relating to any future mineral production, liquidity,

enhanced value and capital markets profile of Targa, future growth potential for Targa and its business, and future

exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions,

which are based on management’s experience and perception of trends, current conditions and expected developments,

and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to

be incorrect. Assumptions have been made regarding, among other things, the price of lithium and other metals; costs

of exploration and development; the estimated costs of development of exploration projects; Targa’s ability to operate

in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect Targa’s respective current views with respect to future events and are necessarily based upon

a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject

to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both

known and unknown, could cause actual results, performance, or achievements to be materially different from the

results, performance or achievements that are or may be expressed or implied by such forward-looking statements or

forward-looking information and Targa has made assumptions and estimates based on or related to many of these

factors. Such factors include, without limitation: price volatility of lithium and other metals; risks associated with the

conduct of the Company's mineral exploration activities in Canada; regulatory, consent or permitting delays; risks

relating to reliance on the Company's management team and outside contractors; the Company's inability to obtain

insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure

to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; r isks and

unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries

and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped

properties; laws and regulations governing the environment, health and safety; the ability of the communities in which

the Company operates to manage and cope with the implications of public health crises; the economic and financial

implications of public health crises to the Company; operating or technical difficulties in connection with mining or

development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding

communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and

development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of

interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the

factors identified under the caption “Risk Factors” in Targa’s management discussion and analysis and other public

disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or

forward-looking information. Although Targa has attempted to identify important factors that could cause actual results

to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Targa

does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking

information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements

or information, other than as required by applicable law.