TNR Gold Thanks Shareholders for Their Strong Support and Remains Focused on Delivering Long-Term Value
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NEWS RELEASE
TNR Gold Thanks Shareholders for Their Strong Support and Remains Focused on
Delivering Long-Term Value
• Shareholders encouraged to review the facts and to focus on TNR Gold’s strategy, assets and
long-term value creation.
• The dissident has offered only empty rhetoric and personal attacks, not a credible plan to create
value for TNR Gold’s shareholders.
• TNR Gold shareholders are facing a choice: seasoned, steady and professional hands with a
proven track record or someone posing as a koala, posting frivolous things and backed by
mysterious funds.
• Shareholders are urged to REJECT the dissident green proxy , DISREGARD Eucalyptus’
materials and vote ONLY the BLUE Proxy FOR TNR Gold’s nominees.
• Questions? Need Help Voting BLUE? Contact Kingsdale Advisors Toll-Free in North America
at 1-855-476-7861 or by email at [email protected]. Visit www.VoteTNR.com.
Vancouver, British Columbia – September 4, 2026: TNR Gold Corp. (TSX -V: TNR) (“TNR Gold”,
“TNR” or the “ Company”) today responded to a press release issued by Eucalyptus Resources
Opportunities Fund 1, LP ( Jon Christian Evensen) (the “ Dissident”, “Eucalyptus” or “Koala”) and
encourages shareholders to carefully review all available facts before making their voting decision at the
upcoming Annual General and Special Meeting scheduled for September 22, 2026 (the “Meeting”).
"TNR Gold's focus remains exactly where it should be: on advancing our strategy, maximizing the value
of our royalty portfolio and acting in the best interests of all shareholders," said Kirill Klip, Executive
Chairman and Chief Executive Officer. "We are grateful for the many shareholders who have reached
out to us in recent days and look forward to continuing that dialogue. While others may choose to focus
on empty rhetoric and personal attacks, we remain focused on strategic execution, experienced
stewardship and long-term value creation."
Shareholders should carefully consider what is at stake at the Meeting. This vote is about whether one
self-serving shareholder should gain control of the Company as TNR enters an important phase in the
development of its business.
KOALA OFFERS CHEAP ATTACKS, NOT A CREDIBLE PLAN FOR TNR GOLD
In its latest press release, the Dissident repeats a series of personal attacks against management and
the Board (and now its advisors) while providing shareholders with no realistic theory about how its
nominees would enhance TNR Gold’s strategy, improve operating performance, advance the Company’s
royalty interests, strengthen its financial position, or create value beyond replacing the incumbent Board.
#1120, 789 West Pender Street,
Vancouver, B.C.
V6C 1H2, Canada
T: +1 (604) 229-8129
E-mail: [email protected]
Website: http://www.tnrgoldcorp.com
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Shareholders should not be distracted by empty rhetoric or cheap personal attacks. The Board urges
shareholders to REJECT the Dissident green proxy, continue to DISREGARD any materials or
communications received from Koala, and vote ONLY the BLUE Proxy FOR TNR’s nominees.
Koala claims that his social media posts are single-handedly responsible for the Company’s strong share
performance. Shareholders are urged not to entrust their investment to somebody who believes the
Company’s success lies in frivolous posts on social media rather than established experience.
QUESTIONS? NEED HELP VOTING THE BLUE PROXY?
Shareholders who have questions or need assistance voting their common shares should contact
Kingsdale Advisors, TNR Gold’s strategic shareholder advisor.
Kingsdale Advisors
North American Toll-Free: 1-855-476-7861
Text and Call Number: 1-437-561-5018
Email: [email protected]
Website: www.VoteTNR.com
ADVISORS
Norton Rose Fulbright Canada LLP is acting as legal counsel to TNR Gold. Kingsdale Advisors is acting
as strategic shareholder advisor to TNR Gold.
ABOUT TNR GOLD CORP.
TNR Gold Corp. is working to become the green energy metals royalty and gold company.
Our business model provides a unique entry point in the creation of supply chains for critical materials
like energy metals that are powering the energy rEVolution, and the gold industry that is providing a
hedge for this stage of the economic cycle.
Our portfolio provides a unique combination of assets with exposure to multiple aspects of the mining
cycle: the power of blue-sky discovery and important partnerships with industry leaders as operators on
the projects that will potentially generate royalty cashflows to contribute significant value for our
shareholders.
Over the past thirty years, TNR, through its lead generator business model, has been successful in
generating high-quality global exploration projects. With the Company’s expertise, resources and industry
network, the potential of the Mariana Lithium Project and Los Azules Copper Project in Argentina, among
many others, have been recognized.
TNR holds a 1.5% NSR royalty on the Mariana Lithium Project in Argentina, of which 0.15% of such NSR
royalty is held on behalf of a shareholder of the Company . Ganfeng Lithium ’s subsidiary, Litio Minera
Argentina (“LMA”), has the right to repurchase 1.0% of the NSR royalty on the Mariana Project, of which
0.9% is the Company ’s NSR royalty interest. The Company would receive CAN$900,000 , and its
shareholder would receive CAN$100,000 on the repurchase by LMA, resulting in TNR holding a 0.45%
NSR royalty and its shareholder holding a 0.05% NSR royalty.
The Mariana Lithium Project is 100% owned by Ganfeng Lithium. The Mariana Lithium Project has been
approved by the Argentina provincial government of Salta for an environmental impact report. Ganfeng
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Lithium officially inaugurated Mariana Lithium ’s start of production at a 20,000 tons -per-annum lithium
chloride plant on February 12, 2025.
TNR Gold also holds a 0.4% NSR royalty on the Los Azules Copper Project, of which 0.04% of the 0.4%
NSR royalty is held on behalf of a shareholder of the Company. The Los Azules Copper Project is being
developed by McEwen Inc.
TNR also holds a 7% NPR on the Batidero I and II properties of the Josemaria Project that is being
developed by the joint venture between Lundin Mining and BHP.
TNR provides significant exposure to gold through its 90% holding in the Shotgun Gold porphyry project
in Alaska. The project is located in Southwestern Alaska near the Donlin Gold project, which is being
developed by Novagold Resources. The Company’s strategy with the Shotgun Gold Project is to attract
a joint venture partnership with a major gold mining company. The Company is actively introducing the
project to interested parties.
At its core, TNR provides a wide scope of exposure to gold, copper, silver and lithium through its holdings
in Alaska (the Shotgun Gold porphyry project) and royalty holdings in Argentina (the Mariana Lithium
project, the Los Azules Copper Project and the Batidero I & II properties of the Josemaria Project), and
is committed to the continued generation of in -demand projects, while diversifying its markets and
building shareholder value.
On behalf of the Board of Directors,
Kirill Klip
Executive Chairman
www.tnrgoldcorp.com
For further information concerning this news release please contact Kirill Klip +1 604-229-8129
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain “forward-looking information”
within the meaning of applicable securities law. Forward -looking information is frequently characterized
by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and
other similar words, or statements that certain events or conditions “may” or “could” occur, although not
all forward-looking statements contain these identifying words. Specifically, forward -looking statements
in this news release include, but are not limited to, statements made in relation to: the upcoming Meeting;
the advancement of TNR’s key assets towards development milestones; TNR’s future receipt of cash
flows from its royalty holdings and the subsequent contribution of significant value to its shareholders;
the possible growth of TNR’s value; and TNR’s strategy and business objectives. Such forward-looking
information is based on a number of assumptions and subject to a variety of risks and uncertainties,
including but not limited to those discussed in the sections entitled “Risks” and “Forward-Looking
Statements” in the Company ’s interim and annual Management ’s Discussion and Analysis which are
available under the Company’s SEDAR+ profile on www.sedarplus.ca. While management believes that
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the assumptions made and reflected in this news release are reasonable, should one or more of the risks,
uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described i n forward-looking information. In particular, there can be no
assurance that: TNR will enter into one or more strategic transactions, partnership or a spin -out, or be
able to complete any further royalty acquisitions or sales of royalty interests, or portions thereof; TNR’s
key assets will advance toward development milestones on the timeline currently anticipated or at all; or
that TNR will be able to achieve any of its corporate objectives . TNR relies on the confirmation of its
ownership for mining claims from the appropriate government agencies when paying rental payments for
such mining claims requested by these agencies. There could be a risk in the future of the changing
internal policies of such government agencies or risk related to the third parties, in future, challenging the
ownership of such mining claims. Given these uncertainties, readers are cautioned that forward-looking
statements included herein are not guarantees of future performance, and such forward -looking
statements should not be unduly relied on.
In formulating the forward-looking statements contained herein, management has assumed that business
and economic conditions affecting TNR, and its royalty partners, McEwen Inc., Ganfeng Lithium and
Lundin Mining will continue substantially in the ordinary course, including without limitation with respect
to general industry conditions, general levels of economic activity and regulations. These assumptions,
although considered reasonable by management at the time of preparation, may prove to be incorrect.
Forward-looking information herein and all subsequent written and oral forward -looking information are
based on estimates and opinions of management on the dates they are made and are expressly qualified
in their entirety by this cautionary statement. Except as required by law, the Company assumes no
obligation to update forward -looking information should circumstances or management ’s estimates or
opinions change.