Targa completes Phase 2 drill program at Opinaca

Canada NewsWire

VANCOUVER, BC , Sept. 17, 2026 /CNW/ -- Targa Exploration Corp. (CSE: TEX) (FRA: V6Y) (OTCQB: TRGEF) (" Targa " or the " Company ") today announced the completion of its Phase 2 diamond drill program at the Company's Opinaca gold project (" Opinaca "), located in the James Bay region of Quebec. This program is a follow-up to the grassroots gold discovery made at Opinaca during the 2025 maiden drill campaign (see press release dated January 21, 2026). A total of 4,317 metres were drilled in 10 diamond drill holes (26OPDD009 to 26OPDD018). Assay results from the program are pending.

Highlights

Total of 4,317 metres drilled in 10 diamond drill holes (26OPDD009 to 26OPDD018)

3,891 metres drilled in 9 holes on the Western target; 426 metres drilled in 1 hole on the Eastern target

Drill program operated by Kenorland and completed safely, on time and on budget

All drill core samples delivered to Bureau Veritas laboratory in Timmins, Ontario

Assay results expected by mid-November 2026

" This is our first drill program back at Opinaca since announcing our grassroots gold discovery earlier this year," commented Targa CEO, Cameron Tymstra. "This year's drill campaign focused on expanding on the 4km-long mineralized trend identified last year, gaining a better understanding of the factors controlling the gold mineralization, and testing additional targets. Opinaca is a large, complex gold system, and every drill hole brings us one step closer to finding the system's centre of mass. All drill core samples have been delivered to the lab for assay and we are looking forward to those results, currently expected in November. I would like to thank Kenorland's team who served as our Project Operator at Opinaca for a fourth season, and everyone involved in the project this year for completing a safe, smooth, and efficient campaign. While waiting for assays, petrographic and structural analysis work is being planned to compliment the drill results and help us prepare for the next phase of drilling at Opinaca, which can be conducted in both the summer and winter seasons."

Phase 2 Drill Program

The Phase 2 program was designed to test the along-strike continuity of gold mineralization discovered during the 2025 maiden drill program and to test the Eastern target for the first time with the drill bit ( see August 6, 2026 news release ). Nine holes totaling 3,891 metres were completed at the Western target, and one hole totaling 426 metres was completed at the Eastern target. Drill hole locations are shown in Figure 1 and Figure 2.

Sample Shipment and Assay Timing

A total of 3,598 samples were collected from the Phase 2 drilling program. In addition, 22 samples were collected from the field mapping and prospecting campaign. All samples have been shipped from Winsome camp to Bureau Veritas Commodities ("BV") laboratory in Timmins, Ontario. Based on an anticipated laboratory turnaround of approximately eight weeks, assay results are expected in mid-November 2026.

Petrographic and Structural Studies at Opinaca

A representative suite of drill core samples reflecting the main lithologies and mineralization styles encountered to date at Opinaca has been selected and shipped for petrographic analysis. In addition, the company is in the process of engaging a structural geology specialist to review core and assist in understanding the metamorphic and mineralization history at Opinaca. This work is expected to help with drill targeting in future campaigns.

QA/QC and Core Sampling Protocols

All drill core samples were collected under the supervision of licensed Kenorland geologists. 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, and sealed with numbered tags to maintain chain-of-custody, and transported from Winsome camp to BV's laboratory in Timmins, Ontario.

Sample preparation for this drill program will be carried out by BV according to method PRP70-250: individual samples will be crushed to 2mm (10 mesh) and a 250g split will be pulverized to 75μm (200 mesh) for analysis. Gold in samples will be analyzed using BV method FA430, where a 30g split is analyzed by fire assay with Pb collection and an AAS finish. Over-limit gold samples will be re-analyzed using BV method FA530, where a 30g split is analyzed by fire assay with Pb collection and a gravimetric finish. Multi-element geochemical analysis (45 elements) will be performed on all samples using BV method MA200, where a 0.25g split is analyzed by multi-acid digest with ICP-MS/ES finish.

Qualified Person

Cédric Mayer, M.Sc., P.Geo. (OGQ #02385), Senior Project Geologist at Kenorland, a "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release.

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 100%-owned Opinaca gold project in Quebec, subject to a 3% NSR held by Kenorland Minerals, where wide-spread gold mineralization was discovered during a maiden drill campaign in 2025. The Company has also recently acquired options to acquire up to an 80% interest in the Venidero (Morobayo) and El Zanjon gold-silver projects in Santa Cruz, Argentina.

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", "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 receipt of assay results; the results and interpretation of the Phase 2 drill program; 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 price 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 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 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 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.

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.

SOURCE Targa Exploration Corp.

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Canada Newswire

September 17, 2026 - 4:30 AM PDT

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