Targa Makes Grassroots Discovery of Widespread GOLD Mineralization at Opinaca Including up to 13.88g/t Au over 3.65m
CSE: TEX | OTCQB: TRGEF | FRA: V6Y
FOR IMMEDIATE RELEASE January 21, 2026
TARGA MAKES GRASSROOTS DISCOVERY OF WIDESPREAD GOLD MINERALIZATION AT OPINACA
INCLUDING UP TO 13.88g/t Au OVER 3.65m
Vancouver, British Columbia ( January 21, 2026) – Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB:
TRGEF) (“Targa” or the “ Company”) today announced a grassroots gold discovery that was confirmed by
drilling at its 100% -owned Opinaca Gold Project , subject to a 3% NSR held by Kenorland Minerals
(“Kenorland”), located in Quebec. Several high -grade intercepts were made including a project high of
166.14g/t Au over 0.3m in hole 25OPDD007. Assays from all 8 drill holes completed in the maiden drill
campaign, operated by Kenorland and totaling 3,665 metres, are reported herein . Targa has also appointed
Alejandro Adams as the Company’s new CFO.
Highlights
• Discovery of widespread gold mineralization over 4-km target area with no prior drilling
• Gold intersected in 7 of 8 drill holes
• High-grade intercepts:
o 13.88g/t Au over 3.65m, including 166.14g/t over 0.3m in hole 25OPDD007
o 2.39g/t Au over 4.79m, including 14.8g/t over 0.7m in hole 25OPDD006
o 7.45g/t Au over 0.37m in hole 25OPDD003
• Broad gold intercepts:
o 0.17g/t over 70.55m, including 0.38g/t over 8.1m in 25OPDD004
o 0.69g/t Au over 16.85m, including 2.23g/t over 3.25m in 25OPDD003
o 0.43g/t Au over 16.0m, including 3.13g/t over 1.5m in 25OPDD008
o 0.52g/t Au over 11.58m, including 4.66g/t over 0.82m in 25OPD005
• Mineralization style analogous to the regionally significant, intrusion -related, Cheechoo gold
deposit*
“This is a tremendous outcome from our maiden drill program at Opinaca” commented Targa CEO, Cameron
Tymstra. “ With the help of Kenorland’s technical team, we have moved this project from a never -before-
explored piece of ground to a grassroots gold discovery in just a few short field seasons. We were able to hit
gold in 7 of 8 drill holes, including some nice high- grade intercepts, all of which were drilled under till cover
with no known surface mineral occurrences. These three drill fences spread across 4 kilometers of the 7 -
kilometer geochemical anomaly have confirmed that we are sitting on top of a wide-spread mineralized gold
system, currently with undefined limits . These results have greatly increased the potential for future gold
discoveries at Opinaca within this newly identified system and our team can’t wait to get back out there.”
Lorne Warner, VP Exploration, P. Geo commented “Having worked at and explored around several gold mines
for Noranda and Placer Dome , this widespread spatial gold distribution, and in some areas containing very
elevated concentrations, is a tell-tale sign you are within or near a potentially significant gold occurrence. With
no previously known gold occurrences on the property, thick overburden masking any indications of alteration
and/or mineralization beneath, I am so impressed by these drill results and their implications . There remains
a lot more exploration work to undertake.”
Figure 1 – Plan map of Opinaca drilling with highlights from this press release
Discussion of Results
The 2025 fall drill program represents the first -ever drilling at the Project, following two years of systematic
exploration. Prior to this program, no historical drilling or documented gold occurrences had been reported
within the target area. The maiden drill program comprised eight (8) diamond drillholes totaling 3,665 metres,
designed to test a 4 -km-wide area located at the head of an extensive gold- in-till and heavy mineral
concentrate (HMC) gold grain anomaly, as well as anomalous rock samples returning up to 6.67 g/t Au
identified through prospecting.
Widespread gold mineralis ation was intersected across the target area along three separate drill fences.
Mineralisation is hosted within all lithologies including felsic tonalitic intrusives with moderate to strong albite
alteration, moderately to strongly deformed meta -wacke, felsic pegmatite and fine -grained mafic intrusive
units. F oliation-parallel quartz –feldspar–biotite ± arsenopyrite veins associated with gold cross -cut all
lithologies.
The spatial association of gold with albite -altered tonalites, quartz –feldspar veinlets, arsenopyrite, and
pegmatites is similar to the Cheechoo gold deposit* (Sirios Resources), also located in the James Bay region,
underscoring the potential for a significant intrusion-related gold system at the Opinaca Project.
Figure 2 – 459.85m to 460.15m assaying 166.14g/t Au from hole 25OPDD007
Results from each of the three drill fences are summarized below:
• Western Fence: Targeted up -ice of a gold grain in till anomaly in proximity to an interpreted NE
trending structure. 3.65m at 13.88 g/t Au including 0.30m at 166.14 g/t Au was intersected in
25OPDD007 with +10 specs of visible gold (VG) , associated with a quartz -amphibole-arsenopyrite
vein in meta -wacke. Drillhole 25OPDD007 also returned 15.05m at 0.59 g/t Au including 2.45m at
2.81 g/t Au hosted in albite-altered tonalite.
• Central Fence: Drilling undercut multiple anomalous boulder samples at surface. Drillhole
25OPDD006 returned 4.79m at 2.39 g/t Au including 0.70m at 14.80 g/t Au in meta -wacke. Holes
25OPDD003 and 25OPDD004 returned 16.85m at 0.69 g/t Au including 3.25m at 2.23 g/t Au and
70.55m at 0.17 g/t Au including 8.10m at 0.38 g/t in meta-wacke with folded quartz-feldspar-biotite-
arsenopyrite veinlets.
• Eastern Fence: One drill hole targeted up -ice of a till geochemical anomaly; 25OPDD008 intersected
16.00m at 0.43 g/t Au incl. 1.50m at 3.13 g/t Au in meta-wacke.
Table 1 - Table of assay results from the maiden drill program
HOLE ID From (m) To (m) Interval (m) Au (g/t)
25OPDD001 160.63 161.52 0.89 2.71
And 189.92 192.35 2.43 0.96
And 216.20 217.00 0.80 3.43
25OPDD002 No Significant Results
25OPDD003 309.15 326.00 16.85 0.69
Incl. 315.75 319.00 3.25 2.23
And 349.47 356.45 6.98 0.40
And 377.87 380.00 2.13 1.40
Incl. 377.87 378.24 0.37 7.45
25OPDD004 115.74 186.29 70.55 0.17
Incl. 132.16 140.26 8.10 0.38
And 310.50 323.61 13.11 0.21
And 333.50 353.61 20.11 0.29
25OPDD005 303.50 305.50 2.00 1.16
And 329.00 340.58 11.58 0.52
Incl. 337.80 338.62 0.82 4.66
25OPDD006 80.74 88.00 7.26 0.21
And 217.50 221.50 4.00 0.37
And 326.50 331.29 4.79 2.39
Incl. 330.00 330.70 0.70 14.80
25OPDD007 269.05 273.50 4.45 0.93
Incl. 271.55 273.50 1.95 1.96
And 283.60 298.65 15.05 0.59
Incl. 284.90 287.35 2.45 2.81
And 310.20 318.00 7.80 0.33
And 357.60 364.50 6.90 0.64
Incl. 363.00 364.50 1.50 2.24
And 394.10 422.55 28.45 0.16
And 459.35 463.00 3.65 13.88
Incl. 459.85 460.15 0.30 166.14
25OPDD008 285.00 301.00 16.00 0.43
Incl. 294.00 295.50 1.50 3.13
† Assay intervals reported are core lengths, true widths have not been determined.
Table 2 - Drill hole location and collar table of reported drill from the maiden drill program
HOLE ID Easting (NAD 83) Northing (NAD 83) Elevation (m) Depth (m) Dip Azimuth
25OPDD001 556423 5891755 369.1 450.00 -45 166
25OPDD002 556490 5891481 385.7 449.15 -45 164
25OPDD003 558212 5891668 364.2 420.00 -45 165
25OPDD004 558280 5891395 388.2 450.00 -48 165
25OPDD005 557834 5891039 408.5 411.00 -45 165
25OPDD006 558264 5892105 372.2 573.00 -46 166
25OPDD007 556344 5892129 380.7 519.00 -46 166
25OPDD008 560296 5891309 388.3 393.00 -46 164
The visible gold (VG) sample observed in drillhole 25OPDD007 from 459.85 to 460.15 m originally assayed
>1,000 g/t Au by standard fire assay (FA530). The sample was subsequently re-assayed using both high-grade
fire assay (FA501) and metallic screen fire assay (FS652). The high- grade fire assay returned 2,328 g/t Au,
while the metallic screen assay returned 166.14 g/t Au.
Table 3 – Summary of assay results by different methods for visible gold sample
HOLE ID From (m) To (m) Interval (m)
Assay Result by Method (g/t Au)
FA530 FA501 FS652
25OPDD007 459.85 460.15 0.3 >1,000 2,328 166.14
The discrepancy between these results is interpreted to reflect a strong nugget effect related to the coarse-
grained nature of the gold, as well as the limited sample mass available for metallic screen analysis. For
reporting purposes, the metallic screen fire assay result of 166.14 g/t Au has been used in this press release
(Table 1), as it is considered the more representative analytical method.
Figure 3 - Opinaca Project location
*Cheechoo gold deposit: Open-Pit Indicated 35.0Mt at 1.12 g/t (1.26Moz Au); Open-Pit Inferred 38.2Mt at 1.01 g/t (1.24Moz Au); Underground Inferred
4.5Mt at 3.09 g/t (0.45Moz Au). Source: PLR Resources, Mineral Resource Estimate Update for the Cheechoo Project, 07/01/2025. Available at:
www.sirios.com
The mineral resources and reserves discussed for Cheechoo are not located on the Opinaca Project. The Company has not verified this information and
it is not being treated as current mineral resources or reserves of the Company. The information is provided for geological context only.
New CFO
The Company also announce today that Alejandro Adams has joined the Targa management team as Chief
Financial Officer.
Alejandro Adams is a Chartered Professional Accountant (CPA, CGA) and has a degree in Public Accounting
from the Escuela Bancaria y Comercial (EBC) in Mexico City. He has over 14 years of experience in the mineral
exploration industry including capital raisings and corporate transactions. He worked for Extorre Gold Mines
Limited (acquired by Yamana Gold, now Pan American Silver) and as the Corporate Controller of Exeter
Resources Corporation until it was acquired by Goldcorp (Newmont) in 2017. More recently , Alejandro was
the CFO and Corporate Secretary of Rugby Resources Ltd. for over 8 years until it was acquired in July 2025
by Pampa Metals Corp. (now Andina Copper Corp.). Additionally, Alejandro is currently an independent
director of Adamera Minerals Corp.
The board of directors and management team would like to sincerely thank Dilshan Anthony, Targa’s outgoing
CFO, for his efforts that have helped shape Targa as a public company and carried us through the Company’s
early years.
Stock Options
Targa’s board of directors has approved the issuance of 150,000 incentive options to Ale jandro Adams, the
incoming CFO. The options have an exercise price of $0.25 and a term of five years and will vest immediately.
The options were granted pursuant to the Company’s incentive stock option plan and are subject to regulatory
approval.
Qualified Person
Cédric Mayer, M.Sc., P.Geo. (OGQ #02385), Senior Project Geologist at Kenorland , “Qualified Person” under
National Instrument 43-101, has reviewed and approved the scientific and technical information in this press
release.
QA/QC and Core Sampling Protocols
All drill core samples were collected under the supervision of Kenorland employees. Drill core was transported
from the drill platform to the logging facility where it was logged, photographed, and split by diamond saw
prior to being sampled. Samples were then bagged, and blanks and certified reference materials were
inserted at regular intervals. Groups of samples were placed in large bags, sealed with numbered tags in order
to maintain a chain- of-custody, and transported from Chibougamau to Bureau Veritas Commodities (“BV”)
laboratory in Timmins, Ontario.
Sample preparation and analytical work for this drill program were carried out by BV. Samples were prepared
for analysis according to BV method PRP70 -250: individual samples were crushed to 2mm (10 mesh) and a
250g split was pulverized to 75μm (200 mesh) f or analysis and then assayed for gold. Gold in samples were
analyzed using BV method FA430 where a 30g split is analyzed with fire assay by Pb collection and AAS finish.
Over-limits gold samples were re -analyzed using BV method FA530 where a 30g split is analyzed with fire
assay by Pb collection and gravimetric finish. Multi-element geochemical analysis (45 elements) was
performed on all samples using BV method MA200 where a 0.25g split is by multi-acid digest with ICP-MS/ES
finish. All results passed the QA/QC screening at the lab, all company inserted standards and blanks returned
results that were within acceptable limits.
FA501 and FS652 were additionally completed on the VG sample. FA501 consists of a 2g aliquot taken from
the original pulverized sample and analyzed by fire assay, with appropriate certified reference materials and
replicate assays included to monitor analytical accuracy and precision. FS652 is a metallic screen fire assay
method, in which a 500 g split of the sample is screened to 106 μm. A 50 g split from both the plus and minus
size fractions is analyzed by fire assay with lead (Pb) collection and gravimetric finish. A duplicate analysis is
performed on the minus fraction. The final gold (Au) grade is calculated based on the measured proportions
of the plus and minus fractions from the original 500 g split.
About Targa
Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB: TRGEF) is a Canadian exploration company engaged in
the acquisition, exploration, and development of gold mineral properties with headquarters in Vancouver,
British Columbia. The Company’s focus is on early-stage projects in premier mining jurisdictions with strong
potential for making Tier 1 grass roots precious metals discoveries. Targa’s principal asset is its Opinaca gold
project in Quebec where wide-spread gold mineralization was recently discovered during a maiden drill
campaign in 2025. The Company has also recently acquired options to acquire interests in the Venidero and
El Zanjon gold-silver projects in Santa Cruz, Argentina.
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 rel ease, the words “anticipate”, “believe”, “proposed”, “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: timing of execution of
exploration programs; timing and receipt of permits; and 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 payments and other obligations, agreements, acquisitions
and re-organization of Targa and its affiliates, 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 pri ce of gold and other metals; costs of
exploration and development; the viability and accuracy of reported exploration results; the estimated costs of
development of exploration projects; Targa ’s ability to operate in a safe and effective manner and its abi lity 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 gold and other metals ; risks associated with the
conduct of the Company's mineral exploration activities; 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; risks 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 ti tle 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 int egrate 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, othe r than as
required by applicable law.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.