Kirill Klip

Building the Green Energy Metals Royalty and Gold Company: "There Is Magic, but You Have to Be the Magician. You Have to Make the Magic Happen."

2026-09-29T05:54:33.535-07:00

Building the Green Energy Metals Royalty and Gold Company: "There Is Magic, but You Have to Be the Magician. You Have to Make the Magic Happen."

TNR GOLD ANNOUNCES RESCHEDULING OF ANNUAL GENERAL AND SPECIAL MEETING

2026-09-19T09:29:32.320-07:00

NEWS RELEASE

TNR GOLD ANNOUNCES RESCHEDULING OF ANNUAL GENERAL AND SPECIAL MEETING

TNR Gold cancels its annual general and special meeting of shareholders originally scheduled for September 22, 2026.
TNR Gold has significant concerns that the integrity of the shareholder voting process has been imperiled by inadequate disclosure and other related issues.
The annual general and special meeting of shareholders will be rescheduled to a date to be announced as soon as reasonably practicable.

"Vancouver, British Columbia – September 17, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR Gold”, “TNR” or the “Company”) announces that the Company’s annual general and special meeting of shareholders (the “Meeting”) has been cancelled. The Meeting was originally scheduled to be held at 10:00 a.m. (Pacific Time) on September 22, 2026, and will instead be held on a date to be announced as soon as reasonably practicable.

The board of directors of the Company (the “Board”) has determined that cancelling the Meeting is necessary and in the best interests of the Company and its stakeholders. As previously announced, TNR is investigating suspected coordinated acquisitions and voting of TNR shares by Eucalyptus Resources Opportunities Fund 1, LP (“Eucalyptus”) and certain shareholders believed to be acting jointly or in concert with Eucalyptus. In light of the pattern of acquisitions and other coordination between suspected joint actors, TNR is concerned that shareholders may have been deprived of material information, the potential benefit of a mandatory take-over bid under applicable securities laws, and other potential corporate steps. TNR is also concerned that proxy solicitation materials filed and delivered to shareholders by Eucalyptus may fail to comply with applicable legal requirements.

The Company has raised these concerns with securities regulators.

The Board is committed to the integrity of the voting process and remains committed to holding the Meeting. Given the unresolved concerns and the proximity of the Meeting, the Board is rescheduling the Meeting to ensure transparency and protect shareholders’ interests, allow securities regulators to address the issues raised, and enable the Company to take appropriate steps to ensure that shareholders have all required information and material to make fully informed decisions at the rescheduled Meeting.

TNR previously obtained approval under the Business Corporations Act to hold its Meeting by December 24, 2026. The Company intends to hold the Meeting as soon as practicable and before that time and will provide shareholders with ample notice of the new Meeting date once it has been confirmed.

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 Company’s investigation into Eucalyptus and potential joint actor arrangements, including whether legally required disclosure was provided; the rescheduling and anticipated timing of the Meeting; and the consideration of the Company’s concerns by securities regulatory authorities. 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 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 in forward-looking information. In particular, there can be no assurance that: the Company’s investigation will result in a determination that Eucalyptus or any other shareholders were acting jointly or in concert; securities regulators will take any action in respect of the concerns raised by the Company; the Meeting will be rescheduled and held by December 24, 2026; or the issues identified by the Company will be resolved in advance of the rescheduled Meeting. 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."

TNR GOLD PROVIDES UPDATE ON JOINT ACTOR INVESTIGATION

2026-09-19T09:22:27.161-07:00

NEWS RELEASE

TNR GOLD PROVIDES UPDATE ON JOINT ACTOR INVESTIGATION

Investigation has uncovered a potential conspiracy to coordinate the undisclosed acquisition and voting of TNR Gold shares.
TNR Gold believes material information regarding these coordinated activities may have been withheld from shareholders, contrary to applicable securities laws.
TNR Gold’s investigation remains ongoing.

"Vancouver, British Columbia – September 16, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR Gold”, “TNR” or the “Company”) provides the following update regarding its investigation into the actions of Eucalyptus Resources Opportunities Fund 1, LP (“Eucalyptus”), led by Jon Christian “JC” Evensen, in connection with the Company’s upcoming annual general and special meeting of shareholders (the “Meeting”) scheduled to take place on September 22, 2026.

As previously announced, TNR Gold has commenced an investigation regarding Eucalyptus’ coordination with joint actors. The Company’s ongoing investigation has uncovered information suggesting a potential conspiracy among Eucalyptus and certain joint actors to coordinate their undisclosed acquisition and voting of TNR shares in breach of applicable securities laws. Based on information obtained to date, it appears that the nature and extent of such coordination may go well beyond what Eucalyptus has publicly disclosed, involving a number of joint actors that the Company believes are implementing a scheme to acquire and vote TNR shares in order to seize control of the Company’s board of directors without making legally required disclosure.

Despite TNR’s requests to Eucalyptus and its suspected joint actors to act transparently in accordance with securities laws, no corrective disclosure has been made as of the date of this announcement. The Company has significant concerns that shareholders may have been deprived of disclosure material to their voting decisions and is evaluating all options to protect the interests of shareholders and the integrity of the voting process at the Meeting.

TNR’s investigation into these matters is ongoing, and the Company will provide further updates as appropriate.

QUESTIONS? NEED HELP VOTING THE BLUE PROXY?

Vote the BLUE Proxy to protect TNR Gold’s proven strategy and preserve the institutional knowledge and continuity needed to advance its assets.

The BLUE Proxy must be received no later than 10:00 a.m. Pacific Time on Friday, September 18, 2026. If you voted using a green proxy, it is not too late—the later-dated BLUE Proxy will replace and revoke your earlier voting instruction. 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: contactus@kingsdaleadvisors.com

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 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

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 Company’s investigation into Eucalyptus and potential joint actor arrangements, including whether legally required disclosure was provided; 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 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 in 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."

TNR CALLS ON EUCALYPTUS TO PROVIDE DISCLOSURE REGARDING JOINT ACTORS; COMMENCES INVESTIGATION

2026-09-19T09:13:18.091-07:00

NEWS RELEASE

TNR CALLS ON EUCALYPTUS TO PROVIDE DISCLOSURE REGARDING JOINT ACTORS; COMMENCES INVESTIGATION

TNR is concerned that Eucalyptus may have failed to disclose relationships and arrangements material to shareholders.
TNR is investigating potential securities law violations.
Shareholders are urged to vote ONLY the BLUE Proxy ‘FOR’ all TNR Gold director nominees and disregard any materials received from Eucalyptus.
Shareholders who have questions or require assistance voting on the BLUE Proxy are encouraged to contact Kingsdale Advisors toll-free in North America at 1-855-476-7861 or by email at contactus@kingsdaleadvisors.com. Visit VoteTNR.com today.

"Vancouver, British Columbia – September 15, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR Gold”, “TNR” or the “Company”) today announced that it has commenced an investigation into the actions of Eucalyptus Resources Opportunities Fund 1, LP (“Eucalyptus”), led by Jon Christian “JC” Evensen, in connection with the Company’s upcoming annual general and special meeting of shareholders (the “Meeting”) scheduled to take place on September 22, 2026.

Based on information recently obtained, TNR’s board of directors (the “Board”) believes Eucalyptus may have failed to provide legally required disclosure regarding its potential coordination with certain other shareholders in acquiring TNR shares with the intention of voting jointly or in concert at the Meeting. TNR has reached out to Eucalyptus to request that it provide all legally required disclosure to shareholders.

The Board believes it is critical that shareholders receive all information to which they are legally entitled regarding Eucalyptus’s potential coordination with joint actors before casting their votes. The Company is actively investigating these matters to ensure compliance with applicable securities laws and that shareholders can make informed voting decisions based on full disclosure of any arrangements or relationships between Eucalyptus and other shareholders. TNR will provide further updates on these matters as appropriate.

QUESTIONS? NEED HELP VOTING THE BLUE PROXY?

Vote the BLUE Proxy to protect TNR Gold’s proven strategy and preserve the institutional knowledge and continuity needed to advance its assets.

Kingsdale Advisors
North American Toll-Free: 1-855-476-7861
Text and Call Number: 1-437-561-5018
Email: contactus@kingsdaleadvisors.com

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.

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.

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

Cautionary Statement Regarding Forward-Looking Information

ISS REJECTS EUCALYPTUS’ DEMAND FOR FULL BOARD CHANGE – BACKS CEO KIRILL KLIP AND CONTINUITY AT TNR GOLD

2026-09-19T09:02:53.564-07:00

NEWS RELEASE

ISS REJECTS EUCALYPTUS’ DEMAND FOR FULL BOARD CHANGE – BACKS CEO KIRILL KLIP AND CONTINUITY AT TNR GOLD

Leading independent proxy advisor ISS states that “TNR outperformed its peer group over the three- and five-year periods ending on the unaffected date,” concludes that the dissident “failed to articulate an adequate go-forward plan” for the Company, and recommends that shareholders elect Kirill Klip and withhold from dissident nominee Jon Christian “JC” Evensen.
Company thanks shareholders who have already voted the BLUE Proxy in support of TNR Gold’s proven strategy and rejected the dissident’s self-serving attempt to seize control of the Company without offering shareholders a premium or a credible plan.
ONLY DAYS REMAIN TO VOTE. Shareholders who have questions or require assistance voting on the BLUE Proxy are encouraged to contact Kingsdale Advisors toll-free in North America at 1-855-476-7861 or by email at contactus@kingsdaleadvisors.com. Visit VoteTNR.com today.

"Vancouver, British Columbia – September 14, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR Gold”, “TNR” or the “Company”) and its Board of Directors (the “Board”) unanimously recommend that shareholders act immediately. The choice before shareholders is clear: protect a proven royalty-focused strategy, preserve the institutional knowledge and continuity needed to advance it, and reject the attempt by Eucalyptus Resources Opportunities Fund 1, LP, led by Jon Christian “JC” Evensen (“Eucalyptus”, “Koala” or “Mr. Evensen”), to seize effective control of TNR Gold without offering shareholders a premium, a credible strategic plan, or meaningful transparency regarding its campaign. Institutional Shareholder Services Inc. (“ISS”), a leading independent provider of proxy voting advice and analysis, reinforced each of these conclusions. Every vote counts. Shareholders who do not vote risk allowing others to decide the future of their investment.

ISS SUPPORTS KIRILL KLIP AND NOT DISSIDENT NOMINEE JON CHRISTIAN “JC” EVENSEN

ISS recommended that shareholders elect Mr. Kirill Klip and withhold from dissident nominee Mr. Evensen. ISS determined that retaining Mr. Klip would provide the institutional knowledge and continuity needed for TNR Gold’s future and concluded that the dissident had “failed to articulate an adequate go-forward plan.” ISS also identified the Altius Minerals Corporation private placement as a positive development and the clearest example of value creation associated with Mr. Klip’s tenure as Chief Executive Officer. Together, these findings validate TNR Gold’s strategy, leadership and case for continuity at a critical stage in the Company’s development.

In its report, ISS stated: “The Altius private placement represents the most direct example of value creation associated with Kirill’s CEO tenure. The announcement was accompanied by a 30 percent increase in share price, and shares have generally maintained a higher trading range since the transaction.” The investment by Altius, an established industry participant, provides external validation of TNR Gold’s royalty-focused strategy and its potential to create long-term shareholder value.

For more information on the Company’s strategy, track record and plan to create long-term shareholder value, shareholders are encouraged to read our letter to shareholders dated September 8, 2026.

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.

TNR Gold is entering one of the most important periods in its history,” said Kirill Klip, Executive Chairman. “TNR Gold’s royalty-focused strategy is delivering results and has been validated by a major industry player. We have repaid the investment loan and maintain a debt-free balance sheet, attracted a strategic investment from Altius, one of Canada’s leading royalty companies, and positioned the Company to receive its first royalty revenue. I thank every shareholder who has supported the Company by voting BLUE.”

TNR Gold has delivered a 775% five-year total shareholder return, compared with 161% for the equal-weighted royalty peer group, 252% for the market-capitalization-weighted royalty peer group and 207% for the VanEck Junior Gold Miners ETF. ISS noted that recent results reflect “actions taken by management.” The dissident’s attempt to claim full credit for this performance ignores the management decisions, stewardship and long-term execution that positioned TNR Gold to benefit from today’s value-realization milestones.

Mr. Klip’s leadership helped sustain TNR Gold through challenging periods and preserve the royalty portfolio long enough for its underlying value to emerge. With those assets now approaching meaningful value-realization milestones, the Board believes shareholders should recognize the stewardship that positioned the Company to benefit from them today.

The contrast is clear. TNR Gold’s current leadership has preserved and advanced a diversified royalty portfolio, maintained a debt-free balance sheet, attracted a strategic investment from Altius and positioned the Company for potential first royalty revenue. Koala proposes to replace the entire Board without offering shareholders a premium, an adequate go-forward plan or evidence that its nominees can deliver superior value.

KOALA OFFERS NO PREMIUM AND NO CREDIBLE PLAN

Koala is seeking effective control of TNR Gold without offering shareholders a control premium or presenting a detailed plan for creating greater value. Its proposal would replace the entire Board just as TNR Gold approaches potential royalty revenue and other significant value-realization milestones, putting institutional knowledge, strategic continuity and execution at risk.

Shareholders still lack clear answers about how Koala would manage TNR Gold’s royalty assets, allocate capital, advance key projects, preserve essential institutional knowledge and maintain strategic continuity. Koala has also failed to provide meaningful transparency regarding who ultimately stands behind and finances its campaign. These unanswered questions are especially concerning given its demand to replace the entire Board.

TNR GOLD’S STRATEGY IS DELIVERING RESULTS

TNR Gold’s royalty-focused strategy is designed to provide shareholders with diversified exposure to lithium, copper, gold and silver while limiting the direct capital requirements and operating risks associated with mine development. The portfolio is now advancing toward potential royalty revenue and other significant value-realization milestones, including:

Mariana Lithium (Argentina): Ganfeng Lithium has commenced production and completed its first exports of lithium chloride. TNR holds a 1.5% net smelter return royalty, of which 0.15% is held on behalf of a shareholder. As operations ramp up, this royalty positions the Company for its first potential royalty revenue.
Los Azules Copper (Argentina): McEwen Copper, whose investors include Rio Tinto and Stellantis, continues to advance feasibility, permitting and financing at this large-scale copper project. TNR holds a 0.4% net smelter return royalty, of which 0.04% is held on behalf of a shareholder.
Josemaria (Argentina): TNR holds a 7% net profits royalty on the Batidero I and II properties within the copper-gold project being advanced by the Lundin Mining and BHP joint venture.
Shotgun Gold (Alaska): TNR holds a 90% interest in this porphyry gold project located near NOVAGOLD’s Donlin Gold deposit. We have a strategic objective to attract a joint venture partner to fund further exploration on Shotgun.

ONLY DAYS REMAIN. VOTE ONLY THE BLUE PROXY TODAY.

The BLUE Proxy is a vote to protect TNR Gold’s proven strategy, preserve the institutional knowledge and continuity required to advance its assets, and reject a dissident campaign that offers no premium and no adequate go-forward plan. The BLUE Proxy must be received no later than 10:00 a.m. Pacific Time on Friday, September 18, 2026. If you have already voted using a green proxy, it is not too late: voting the later-dated BLUE Proxy will replace and revoke your earlier voting instruction.

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: contactus@kingsdaleadvisors.com

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.

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.

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

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 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 in 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."

TNR Gold NSR Royalty Update – McEwen Copper Completes US$240 Million Term Loan to Advance Los Azules Toward Final Investment Decision

2026-09-11T01:18:18.455-07:00

TNR Gold Shareholder Presentation

TNR Gold Shareholder Letter

KEEP TNR GOLD IN THE RIGHT HANDS.

VOTE THE BLUE PROXY TODAY.

2026 Annual and Special Meeting of Shareholders

Visit www.VoteTNR.com for important information and voting assistance.

NEWS RELEASE

TNR Gold NSR Royalty Update – McEwen Copper Completes US$240 Million Term Loan to Advance Los Azules Toward Final Investment Decision

"Vancouver, British Columbia – September 10, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to advise that McEwen Inc. (“McEwen”) has announced an update on the Los Azules copper, gold and silver project in San Juan, Argentina. TNR holds a 0.4% net smelter returns royalty (“NSR Royalty”) (of which 0.04% of the 0.4% NSR Royalty is held on behalf of a shareholder) on the Los Azules Copper Project.

Delivering on Strategy

The NSR Royalty forms part of TNR Gold’s larger portfolio, which provides diversified exposure to lithium, copper, gold and silver. The portfolio includes 1.5% net smelter return royalty at Mariana Lithium (Argentina), 7% net profits royalty on the Batidero I and II properties at Josemaria (Argentina) and a 90% interest in the Shotgun Gold project (Alaska).

TNR Gold’s ongoing strategy has delivered a 775% total shareholder return over five years, as compared with 161% for the equal-weighted royalty peer group, 252% for the market-cap-weighted royalty peer group and 207% for the VanEck Junior Gold Miners ETF. The Company is debt-free, has attracted a major royalty investor in Altius Minerals, and has advanced value-creating assets.

The Los Azules project is held by McEwen Copper Inc. (“McEwen Copper”), which is 46.3% owned by McEwen. An extract from a news release issued by McEwen on August 27, 2026, stated:

“McEwen Inc. (“McEwen” or the “Company”) today announced that its 46.3%-owned subsidiary McEwen Copper Inc. (“McEwen Copper”, not publicly listed) has closed a $240 million senior secured 4-year term loan facility with a syndicate of lenders (the “Term Loan”). Participants include Sprott Natural Resource Investment Partners for $112 million, and Rob McEwen, Chairman and Chief Owner of the Company, for $85 million; and other lenders for a total of $43 million.

The proceeds of the Term Loan will be used to continue advancing engineering and early works of the Los Azules copper project in San Juan, Argentina, and for general corporate purposes. A final investment decision and full project financing is expected in mid-2027, with commercial copper cathode production targeted for 2030, subject to project financing and customary approvals. The Term Loan provides funding while McEwen Copper advances the broader project debt financing for Los Azules, for which Societe Generale was appointed sole financial advisor in May 2026. Preparations for a potential initial public offering of McEwen Copper continue in parallel.

The principal amount of the Term Loan will bear interest at 12.0% per annum, payable monthly, with a 4‑year term and the principal amount due on maturity. The Term Loan can be repaid in full or in part prior to maturity upon payment of the remaining principal and accrued interest plus a fee equal to 5% of the remaining principal. In connection with the Term Loan, Lenders also received 15,000 5-year McEwen Copper common share purchase warrants for each $1 million of principal, with an exercise price of $40 per share.

‘This financing reflects our lenders’ confidence in Los Azules and in the progress Argentina has made over the past two and a half years. The initiatives of President Javier Milei have helped make Argentina an increasingly attractive destination for large-scale foreign investment. Economic stabilization, stronger credit ratings, lower country risk and the RIGI are bringing long-term capital back to the country. San Juan continues to demonstrate the qualities of a dependable mining jurisdiction, supported by strong institutions, rigorous processes and sound governance. We are proud to be building Los Azules here,’ said Michael Meding, Managing Director of McEwen Copper.

LOS AZULES PROJECT UPDATE
Work at Los Azules continues to advance toward a final investment decision. The 2025-2026 field campaign was completed with more than 5,600 meters of drilling. Geotechnical results were better than expected and will improve the open pit design as mine planning advances. Condemnation drilling confirmed the suitability of the planned location for the North-East rock storage facility. Engineering for the final investment decision is ahead of plan. Engineering for the key process equipment packages (solvent extraction/electrowinning, sulfuric acid and crushing) has been awarded to Metso, the mining fleet tender is in final evaluation, and the selection of the EPCM contractor is expected by the fourth quarter of 2026.
At the peak of the past field season, the project employed more than 500 people, with nearly 90% hired from San Juan. Door-to-door household surveys in the communities near the project show trust and acceptance levels above 90%. McEwen Copper continues community programs, which have trained close to 2,000 Calingasta residents in technical skills, and a community partnerships program that finances productive, social and irrigation initiatives in the local communities.
This winter, the Project experienced one of the heaviest snow seasons in more than two decades. Returning to site and managing the meltwater will require additional focus, and McEwen Copper stands ready to support the response led by the Government of San Juan and local communities with heavy machinery and water management works. At the same time, the snowmelt is expected to refill hydroelectric reservoirs and recharge aquifers after years of drought, a welcome development for a region that has faced prolonged water scarcity. The Los Azules team has decades of experience working in the high Andes and managing snow events of this kind.

ABOUT MCEWEN
McEwen provides its shareholders with exposure to a growing base of gold and silver production in addition to a very large copper development project, all in the Americas. The gold and silver mines are in prolific mineral-rich regions of the world: the Cortez Trend in Nevada, USA, the Timmins district of Ontario and Flin Flon in Manitoba, Canada, and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also reactivating its El Gallo gold and silver mine in Mexico.
The Company has a 46.3% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina – a region that hosts some of the country’s largest copper deposits. Based on McEwen Copper’s last financing in October 2024, the implied value of McEwen’s ownership interest was US$456 million. Since then, the value of Los Azules has improved for three important reasons: 1) The copper price is 50% higher, 2) The Company has completed a Feasibility Study using a $4.35/lb copper price and 3) Los Azules received approval under Argentina’s Large Investment Regime (RIGI), which significantly improves the economics of the project. Los Azules is a shovel-ready project designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038.
McEwen also owns a 1.25% NSR on Los Azules. Based on the 2025 Feasibility Study and using a recent copper spot price of $6.50/lb, McEwen’s royalty is projected to generate approximately $584 million from the initial case and $860 million from the potential Nuton extension, for a combined undiscounted pre-tax royalty cash flow of approximately $1.4 billion.
McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company that is deploying PhotonAssay™ units around the world, a technology that the Company believes is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be one of the leading service providers.
Chairman and Chief Owner Rob McEwen has invested over US$290 million personally and takes a salary of $1 per year, aligning his interests with shareholders. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build MUX’s profitability and share value, as he did while building Goldcorp Inc.”
For further details, visit the McEwen website.

Qualified Persons
The McEwen Copper feasibility study technical report has an effective date of September 3, 2025.
The feasibility study and associated news disclosures were reviewed and verified by the following qualified persons who are independent consultants of McEwen Copper:
Technical aspects of the news release related to Project Execution, Development information, and other information excluding mineral resource disclosure – James L. Sorensen – FAusIMM Reg. No. 221286 with Samuel Engineering.
Technical aspects of the news release related to Metallurgical Summary and Process Information – Michael McGlynn – SME Registered Member No. 4149430 with Samuel Engineering.
Disclosure related to the updated Los Azules mineral resource estimate – Jeff Sullivan – FAusIMM Reg. No. 201778 with CRM-SA, LLC.
Disclosure related to the initial Los Azules mining, and mineral reserve estimate – Gordon Zurowski, P.Eng with AGP Mining Consultants.
Technical aspects of the news release related to Financial Modeling – Steve Pozder – P.E. with Samuel Engineering.
About McEwen Copper
McEwen Copper Inc. is a copper development company whose principal asset is the Los Azules project in San Juan Province, Argentina – an advanced-stage project counted among the largest undeveloped copper resources globally. McEwen Copper is 46.3%-owned by McEwen.
Qualified Person
The McEwen press release appears to be reviewed and verified by a Qualified Person (as that term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects) and the procedures, methodology and key assumptions disclosed therein are those adopted and consistently applied in the mining industry, but no Qualified Person engaged by TNR has done sufficient work to analyze, interpret, classify or verify McEwen’s information to determine the current mineral resource or other information referred to in its press releases. Accordingly, the reader is cautioned in placing any reliance on the disclosures therein.

Kirill Klip, the Company’s Chief Executive Officer, stated, “We are pleased that McEwen Copper has reached this milestone following the release of the feasibility study and securing of an environmental permit for the construction and operation of Los Azules. The collaboration between McEwen Copper and International Finance Corporation (IFC), and admission to the Argentina Regime of Incentives for Investment (RIGI) could move the Los Azules copper project development closer to a construction decision.
Mining in Argentina is being recognized by the government as an integral part of its economic development plan, providing jobs and enriching local communities. The president of Argentina has introduced important government policies aimed at supporting business and unlocking the country’s economic potential.
TNR Gold shares along with others, an aim to decarbonize mobility, and mining industry leaders such as Rob McEwen, whose vision is ‘to build a mine for the future, based on regenerative principles that can achieve net zero carbon emissions by 2038’.
Together with Rio Tinto’s Venture Nuton®, McEwen Copper is exploring new technologies that save energy, water, time and capital, advancing Los Azules towards the goal of leading environmental performance. The involvement of Rio Tinto, with its innovative technology, may also accelerate realizing the potential of the Los Azules project.
The green energy rEVolution relies on the supply of critical metals like copper. Delivering ‘green copper’ to Argentina and the world will contribute to the clean energy transition and electrification of transportation and energy industries.
The feasibility study confirms Los Azules project as a long-life, low-cost producer of high-purity copper cathodes with strong economic returns and sustainability. It highlights the potential to create a robust leach project while reducing the environmental footprint, and greater environmental and social stewardship sets the project apart from other potential mine developments.
TNR Gold does not have to contribute any capital for the development of the Los Azules Project. The essence of our business model is to have industry leaders like McEwen as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

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 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 a 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: 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; TNR’s corporate objectives and future potential transactions being considered by the Special Committee and the Board, and the benefit that TNR’s shareholders may derive from same; the possible growth of TNR’s value; future revenue and increased valuations of TNR’s royalty holdings caused by potential strategic alliances with major mining companies and investment institutions; the potential production from the Mariana Lithium Project; future investment of substantial capital in the development of the Shotgun Gold Project by a potential partner of TNR; the possible benefits that may accrue to the Los Azules copper project; the potential acceleration of the Los Azules project’s potential due to Rio Tinto’s involvement in the project or timing of a construction decision; and the potential benefits caused by delivering ‘green copper’ to Argentina and the world. 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 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 in forward-looking information. In particular, there can be no assurance that: TNR will receive royalty payments from its royalty interests, 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; debt or equity financings will be available to TNR; 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, Lundin Mining and BHP 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."

TNR GOLD SETS THE RECORD STRAIGHT WITH LETTER TO SHAREHOLDERS

2026-09-09T01:08:17.242-07:00

TNR Gold Shareholder Presentation

TNR Gold Shareholder Letter

NEWS RELEASE

TNR GOLD SETS THE RECORD STRAIGHT WITH LETTER TO SHAREHOLDERS

TNR believes the dissident has not made a compelling case to replace a Board that has delivered value creation and progress.
The Board believes the dissident slate raises questions regarding experience, independence, shareholder alignment and suitability to oversee TNR.
Koala has misled shareholders with various claims to keep its true agenda hidden from all.
We encourage all shareholders to review TNR’s Presentation and Letter at VoteTNR.com.
Questions? Need Help Voting BLUE? Contact Kingsdale Advisors Toll-Free in North America at 1-855-476-7861 or by email at contactus@kingsdaleadvisors.com. Visit VoteTNR.com.

"Vancouver, British Columbia – September 8, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR Gold”, “TNR” or the “Company”) today announced that it has filed and started mailing a shareholder letter (the “Letter”) for the upcoming shareholder meeting and proxy contest with Eucalyptus Resources Opportunities Fund 1, LP, led by Jon Christian Evensen (the “dissident”, “Eucalyptus” or “Koala”). The Letter explains why the Board believes shareholders should vote ONLY the BLUE Proxy “FOR” TNR Gold’s nominees. The Board is focused on protecting the interests of all TNR Gold shareholders. This is accompanied by a Shareholder Presentation available at www.VoteTNR.com.

The Board believes shareholders should have clear and complete information before they vote. TNR believes Koala has not shown all joint actors, a better plan, has not offered shareholders any premium for the control he is seeking, and has not provided the transparency shareholders should expect from a group trying to replace the entire Board. Koala’s claims have been designed to mislead shareholders rather than presenting facts.

“This vote is about who shareholders trust to protect TNR Gold and build long-term value,” said Kirill Klip, Executive Chairman of TNR Gold. “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. The facts are clear. TNR has delivered strong returns, eliminated an investment loan, brought in a major strategic investor and advanced a valuable portfolio of lithium, copper and gold assets. We urge shareholders to read the letter, reject Koala’s misleading narrative and vote only the BLUE Proxy.”

Key Takeaways for Shareholders

No Compelling Case for Change. The dissident has not shown why shareholders should replace a Board that has delivered value creation and progress.
Governance and Independence. The dissident slate raises questions regarding experience, independence, shareholder alignment and suitability to oversee TNR.
Results Over Rhetoric. While the dissident has focused on public criticism, TNR Gold has remained focused on execution and shareholder value.
A Proven Team with a Clear Plan. The Board secured a transformative C$4.2 million strategic investment from Altius, validating TNR Gold’s portfolio and strategy.

What Eucalyptus Claims — and What the Facts Show

The shareholder letter explains why TNR believes shareholders should question Eucalyptus’s claims:

TNR Gold has delivered strong results. Eucalyptus says TNR’s record supports replacing the Board.
- The facts show TNR Gold has delivered a 775% five-year total shareholder return, outperformed the identified benchmarks and repaid an investment loan.
- TNR believes shareholders should not replace a Board that has delivered results and protected the Company’s assets.
TNR Gold has a strategy shareholders can see. Eucalyptus questions TNR’s strategy and Board.
- The facts show Altius Minerals Corporation invested C$4.2 million in TNR Gold for a 9.9% interest, without warrants, and later bought more shares in the market.
- TNR believes this shows real outside support for the Company’s portfolio and plan.
- International Lithium’s share price increased more than 36% in the first 11 months of Mr. Kirill Klip’s tenure as CEO.
TNR Gold has a record of governance and disclosure. Eucalyptus says it would be a better steward of TNR Gold.
- The facts show TNR has public governance policies, has disclosed Board qualifications and has kept CEO compensation below the identified peer median.
- Koala is simply recycling allegations first advanced by Lithium Royalty Corp. during its unsuccessful takeover efforts, despite no legal findings supporting those claims.
- TNR also believes Eucalyptus’s materials contain errors and omissions on basic public-record matters.
TNR Gold’s leadership is aligned with shareholders. Eucalyptus suggests the Board put itself first.

The shareholder letter explains that public filings show Kirill Klip increased his TNR Gold ownership over time, defended the Company and provided capital to TNR for over 20 years and helped finance the Company during difficult periods, including the COVID-19 pandemic.
Options are a measure designed to align management with shareholders and support long-term value creation, and were exercised in compliance with all applicable legal and regulatory requirements.
TNR believes shareholders should understand that record before they vote.

Why the Board Believes Eucalyptus’s Narrative Is Misleading

Before voting for Eucalyptus, shareholders should ask five simple questions:

Are shareholders being offered any premium?
Has Koala shown a better plan for TNR Gold?
Who is funding Eucalyptus’s campaign?
Why change the Board now, when TNR believes the current Board has delivered value and progress?
Have all of Eucalyptus’s joint actors been properly disclosed to shareholders?

Evensen and Scandium Background

The shareholder letter also asks shareholders to consider the Evensen family’s background at Scandium International Mining Corporation (“Scandium”), which is a public company listed on the TSXV:

Scandium filings identify Peter Evensen and R. Christian Evensen as non-independent directors because of their shared voting and investment control over more than 10% of Scandium.
In 2017, Peter and R. Christian Evensen joined Scandium’s board while an Evensen-family entity became Scandium’s largest shareholder after converting project interests into equity.
In 2022, after Scandium’s CEO and CFO departed, Peter Evensen became CEO and R. Christian Evensen became CFO while remaining directors.

TNR believes shareholders should carefully consider that Peter Evensen owns over 6 million shares in TNR Gold before giving Eucalyptus influence over the Company and its valuable assets. Shareholders deserve clear answers about who is behind this campaign, who is funding it, and why Koala is seeking to replace the entire Board at this critical time.

TNR Gold’s Plan: Protect the Assets and Build Long-Term Value

TNR’s plan is to protect and advance its royalty and mineral assets that provides shareholders with diversified exposure to lithium, copper, gold and silver, including:

Mariana Lithium (Argentina): Ganfeng Lithium has commenced production and completed its first exports of lithium chloride. TNR holds a 1.5% net smelter return royalty, of which 0.15% is held on behalf of a shareholder. As operations ramp up, this royalty positions the Company for its first potential royalty revenue.
Los Azules Copper (Argentina): McEwen Copper, whose investors include Rio Tinto and Stellantis, continues to advance feasibility, permitting and financing at this large-scale copper project. TNR holds a 0.4% net smelter return royalty, of which 0.04% is held on behalf of a shareholder.
Josemaria (Argentina): TNR holds a 7% net profits royalty on the Batidero I and II properties within the copper-gold project being advanced by the Lundin Mining and BHP joint venture.
Shotgun Gold (Alaska): TNR holds a 90% interest in this porphyry gold project located near NOVAGOLD’s Donlin Gold deposit. We have a strategic objective to attract a joint venture partner to fund further exploration on Shotgun.

The Board believes steady leadership matters as these assets move toward important value milestones.

Shareholders Should Vote Only the BLUE Proxy

Vote only the BLUE Proxy. Disregard any green proxy or other voting materials from Eucalyptus. If you already voted using the green proxy, you can change your vote by submitting a later-dated BLUE proxy.

The BLUE proxy must be received by 10:00 a.m. Pacific Time on Friday, September 18, 2026. If you hold shares through a broker, bank or other intermediary, your voting deadline may be earlier. Vote today.

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: contactus@kingsdaleadvisors.com

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.

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.

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

Cautionary Statement Regarding Forward-Looking Information

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."

TNR Gold Thanks Shareholders for Their Strong Support and Remains Focused on Delivering Long-Term Value

2026-09-05T02:57:55.865-07:00

TNR Gold Shareholder Presentation

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 contactus@kingsdaleadvisors.com. Visit 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.

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: contactus@kingsdaleadvisors.com

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.

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.

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

Cautionary Statement Regarding Forward-Looking Information

TNR Gold Files and Commences Mailing of BLUE Proxy Materials for 2026 Annual General and Special Meeting

2026-09-04T06:46:04.663-07:00

TNR Gold Shareholder Presentation

NEWS RELEASE

TNR Gold Files and Commences Mailing of BLUE Proxy Materials for 2026 Annual General and Special Meeting

Shareholders are urged to vote ONLY the BLUE Proxy ‘FOR’ all TNR Gold director nominees.
Disregard and discard any other proxy materials that you may receive from the dissident.
The choice is clear: vote for the Board that has delivered value, stability and a proven long-term strategy—not an untested dissident whose conduct creates unnecessary risk for TNR Gold.
Questions? Need Help Voting BLUE? Contact Kingsdale Advisors Toll-Free in North America at 1-855-476-7861 or by email at contactus@kingsdaleadvisors.com. Visit VoteTNR.com.

"Vancouver, British Columbia – September 1, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR Gold”, “TNR” or the “Company”) today announced that it has filed and mailed its management information circular (the “Circular”), including the BLUE Form of Proxy and Voting Instruction Form (“BLUE Proxy”), to shareholders in connection with the Company’s 2026 Annual General and Special Meeting of Shareholders to be held on September 22, 2026 (the “Meeting”). Shareholders are strongly encouraged to read the letter to shareholders from our Executive Chairman, Kirill Klip, included in the Circular, which highlights very serious matters connected to the dissident campaign and explains why this vote is critical to the future of TNR Gold. The Meeting materials can be viewed on www.VoteTNR.com and SEDAR+.

The Board of Directors of TNR Gold (the “Board”) unanimously recommends that shareholders vote ‘FOR’ all matters to be considered using ONLY the BLUE Proxy. Shareholders are urged to disregard and discard any public communications, proxy materials, proxy card, voting instruction form or other related materials they may receive from or on behalf of Eucalyptus Resources Opportunities Fund 1, LP (Jon Christian Evensen) (the “dissident”, “Mr. Evensen”, or “Koala”).

Shareholders should be deeply concerned that the dissident operates (whether directly or indirectly) on X, through the “Yellow Lab Life Capital” account under the pseudonym “Koala” which he has used to continuously disparage the very Company he is seeking to control[1]. The account’s own profile states, “I am not as smart as I sound, so please don’t listen to me,” underscoring the juvenile and unprofessional nature of the conduct. The Board believes this raises serious questions about Mr. Evensen’s judgment, transparency, maturity and suitability to influence the stewardship of a strong performing public company

_____________________

[1] Source: https://x.com/YellowLabLife.

WHY THE BOARD RECOMMENDS VOTING ONLY THE BLUE PROXY

The Board unanimously recommends that shareholders vote ‘FOR’ the Company’s nominees using ONLY the BLUE Proxy. The Company’s nominees — John Davies, Kirill Klip, Konstantin Klip and Leopold Sutton — bring directly relevant experience in investment management, capital financing, risk management, corporate development, governance, business transformation and the mining sector. As outlined below, their collective expertise supports the Company’s strategy and growth opportunities:

Proven Strategy: The current Board and management team have spent more than 20 years building and advancing TNR’s royalty and mineral portfolio, including Mariana Lithium, Los Azules, Batidero I and II (of the Josemaria Project) and Shotgun Gold. Altius Minerals Corporation’s significant investment in TNR provides independent validation of the Company’s assets, strategy and growth prospects.
Strong Shareholder Returns: Shareholders have benefited from significant value creation under the current Board, including total shareholder returns of 775%, 438% and 312% over the five-, three- and one-year periods, respectively. The Board emphasizes that the royalty portfolio and strategic partnerships were established well before the dissident became a shareholder.
Qualified and Experienced Nominees: The Company’s nominees bring direct knowledge of TNR’s assets, strategy, industry relationships and business model. With meaningful personal ownership in TNR Gold, the Board’s interests are directly aligned with those of shareholders.
No Case for Wholesale Board Replacement: The dissident is seeking to replace all four directors without presenting a detailed strategic plan, capital allocation framework, transition plan or governance roadmap.
Continuity at Key Milestones: TNR is entering an important phase as key assets advance toward development milestones and the Company continues strengthening Board independence, diversity and governance. The newly established Compensation, Corporate Governance and Nominating Committee will strengthen governance practices to ensure that independent oversight over these key functions continues to be vital to TNR’s current success.

REASONS TO REJECT THE DISSIDENT CAMPAIGN

The dissident is seeking to replace the Board and seize control of the Company without paying shareholders a premium. The Board believes shareholders should reject the dissident campaign because it offers no credible plan for TNR Gold, no clear path to superior value, no meaningful transparency around its agenda, and no compelling basis to entrust the Company’s future to an untested slate.

A Control Grab Without a Premium: The dissident is not seeking modest Board refreshment; it is seeking complete control of TNR Gold by replacing all four directors.
No Credible Plan: The dissident has not presented a detailed strategic plan, capital allocation framework, management transition plan or governance roadmap for TNR Gold.
Opaque Funding and Agenda: The funding sources and parties behind the dissident campaign remain unclear, raising important questions about who is truly seeking influence over TNR Gold.
Serious Judgment and Conduct Concerns: Evensen’s use of the “Koala” social media persona to criticize the Company raises serious concerns about maturity, judgment and suitability to influence the stewardship of a public company.
An Untested Slate With Independence Concerns: The dissident nominees have not demonstrated the collective independence, public company leadership experience or asset-specific knowledge required to immediately replace the entire Board.

VOTING INSTRUCTIONS

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.

The choice is clear: shareholders should support the Board with a proven record—not an untested dissident slate offering no premium, no credible plan and no basis to justify handing over complete control. Shareholders are urged to vote as soon as possible and, in any event, before the proxy voting deadline of 10:00 a.m. (Pacific Time) on September 18, 2026. Vote ONLY the BLUE Proxy as follows:

“FOR” setting the number of directors at four.
“FOR” the election of each of the Company’s director nominees: John Davies, Kirill Klip, Konstantin Klip and Leopold Sutton.
“FOR” the appointment of Manning Elliott LLP as auditor and authorizing the directors to fix the auditor’s remuneration.
“FOR” the renewal of the Company’s 10% rolling stock option plan.

Shareholders should disregard and discard any other form of proxy or voting instruction form they may receive, including any materials sent by or on behalf of the dissident.

FILING AND MAILING OF MEETING MATERIALS

The Circular provides shareholders with important information regarding the Meeting, the matters to be voted upon and the reasons for the Board’s unanimous recommendation that shareholders vote “FOR” using ONLY the BLUE Proxy. Copies of the Meeting materials are being mailed to shareholders and are available under the Company’s profile on SEDAR+ at www.sedarplus.ca and at www.VoteTNR.com.

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: contactus@kingsdaleadvisors.com

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.

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.

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

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; the anticipated benefits of the Company’s newly established Compensation, Corporate Governance and Nominating Committee; 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 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 in 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; the Company’s newly established Compensation, Corporate Governance and Nominating Committee will achieve its intended governance benefits; 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."

TNR Gold Begins Exploration Program on Shotgun Gold Project in Alaska

2026-09-01T10:54:56.516-07:00

“I am pleased to share updates that reflect the continued support of our leadership team and strategic partners for TNR Gold’s development plan,” commented Kirill Klip, Executive Chairman of TNR Gold.
“I have continued to increase my share ownership in TNR Gold, adding an additional 4,200,000 shares this year. My current holding of 31,363,000 shares reflects my ongoing commitment to the Company and confidence in its strategic direction. TNR Gold’s Chair of the Audit Committee, Chief Financial Officer and Vice President, Corporate Development have also increased their ownership positions.”

Kirill Klip added, “As previously announced on July 17, 2026, Altius Minerals Corporation (“Altius”) acquired 7,435,000 shares of TNR Gold at price per share of CAN$0.23, increasing its ownership position in TNR Gold to an aggregate of 30,935,000 shares. Altius’s increased stake reflects their continued strategic interest in TNR Gold’s management team, its strategic plan and TNR Gold’s royalty portfolio. We welcome Altius increasing its strategic, non-controlling stake in TNR Gold.”

TNR Gold Shareholder Presentation

NEWS RELEASE

TNR Gold Begins Exploration Program on Shotgun Gold Project in Alaska

"Vancouver, British Columbia – August 31, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to announce the start of an exploration program on the Company’s Shotgun Gold Project in Alaska.

The 2026 field program at the Shotgun and Winchester prospects, located in the Taylor Mountain Quadrangle in Alaska, will follow up the 2022 field program and investigate the geochemical anomalies generated by the 1998 Novagold Resources soil surveys and the geophysical targets indicated by anomalies from the SJ Geophysics 2011 and 2012 IP surveys.

“The Shotgun Gold Project is an advanced-stage exploration prospect in southwestern Alaska. The Company’s strategy with the Shotgun Gold Project is to attract a partnership with a major gold mining company. TNR Gold has successfully consolidated and updated its mining claims in Alaska and is actively introducing the project to interested parties,” commented Kirill Klip, TNR Gold Chief Executive Officer. “We may be at the beginning of a great discovery. There is a clear path on how to move this project forward using the geological and geophysical research currently available to target drilling to expand the resource. The next step is to acquire a partner that shares our vision and recognizes the growth potential and value to be added to the Shotgun Gold Project over time. This exploration program will allow us to comply with the listing requirements, our work commitments in Alaska to maintain the mining claims in good standing, and to provide additional information in TNR’s Shotgun Gold data room for our potential strategic partners.”

ABOUT THE SHOTGUN GOLD PROJECT

TNR holds a 90% interest in the Shotgun Gold Project that is located 190 kilometres south of the Donlin Gold Project deposits within the Kuskokwim Gold Belt in southwestern Alaska. This area is emerging as a world-class, multi-million-ounce gold district. The Shotgun property includes a number of prospects, including Shotgun Ridge and nearby Winchester. The Donlin Gold Project is an intrusion-associated system and represents one of the largest undeveloped gold deposits in the world. The Company believes that there are several key similarities between prospects on the Shotgun property and those of the Donlin Gold Project deposits as well as other important intrusion-associated deposits worldwide.

The Company is targeting a large-tonnage, porphyry-style gold system at Shotgun Ridge. Repeating fault-controlled structures, identified from airborne magnetic and ground geophysical data, provide TNR with encouraging targets for future drill testing.

Detailed information about the inferred mineral resource estimate is included in the technical report titled “Technical Report on the Shotgun Gold Project, Southwest Alaska”, dated May 27, 2013, and can be found on the TNR Gold website at www.tnrgoldcorp.com or on SEDAR+ at www.sedarplus.ca.

Qualified Person

The technical information in this news release has been reviewed and approved by Brendan McCrum, CPG-12330, consulting Senior Geologist from Alaska Earth Sciences to TNR Gold, and a Qualified Person as that term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

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.

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

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: 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; TNR’s corporate objectives and future potential transactions being considered by the Special Committee and the Board, and the benefit that TNR’s shareholders may derive from same; 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; future revenue and increased valuations of TNR’s royalty holdings caused by potential strategic alliances with major mining companies and investment institutions; the potential production from the Mariana Lithium Project; future investment of substantial capital in the development of the Shotgun Gold Project by a potential partner of TNR; the possible benefits that may accrue to the Los Azules copper project; the potential acceleration of the Los Azules project’s potential due to Rio Tinto’s involvement in the project; and the potential benefits caused by delivering ‘green copper’ to Argentina and the world. 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 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 in 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; debt or equity financings will be available to TNR; 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, Lundin Mining and BHP 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."

TNR Gold’s Management Team Reinforces Commitment Through Increased Ownership; Company Acknowledges Receipt of Director Nominations

2026-08-30T10:22:12.867-07:00

NEWS RELEASE

TNR Gold’s Management Team Reinforces Commitment Through Increased Ownership; Company Acknowledges Receipt of Director Nominations

"Vancouver, British Columbia – August 18, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to advise that the TNR Gold management team continues to demonstrate its alignment with shareholders and commitment to TNR Gold through increased ownership.

“I am pleased to share updates that reflect the continued support of our leadership team and strategic partners for TNR Gold’s development plan,” commented Kirill Klip, Executive Chairman of TNR Gold.

“I have continued to increase my share ownership in TNR Gold, adding an additional 4,200,000 shares this year. My current holding of 31,363,000 shares reflects my ongoing commitment to the Company and confidence in its strategic direction. TNR Gold’s Chair of the Audit Committee, Chief Financial Officer and Vice President, Corporate Development have also increased their ownership positions.”

Kirill Klip added, “As previously announced on July 17, 2026, Altius Minerals Corporation (“Altius”) acquired 7,435,000 shares of TNR Gold at price per share of CAN$0.23, increasing its ownership position in TNR Gold to an aggregate of 30,935,000 shares. Altius’s increased stake reflects their continued strategic interest in TNR Gold’s management team, its strategic plan and TNR Gold’s royalty portfolio. We welcome Altius increasing its strategic, non-controlling stake in TNR Gold.”

TNR Gold also acknowledges that it has received notice from a shareholder of its intention to nominate four individuals for election to the Company’s Board of Directors (the “Board”) at the Company’s Annual General and Special Meeting of Shareholders on September 22, 2026 (the “Meeting”).

The notice was submitted pursuant to the Company’s Advance Notice Policy. The Company notes that receipt of the notice does not constitute any determination by the Company regarding the validity, eligibility, or compliance of the nominations under the Advance Notice Policy or applicable law. The Company and Board are currently reviewing the notice with their advisors and will communicate any material updates at the appropriate time.

TNR Gold shareholders are not required to take any action at this time.

The Company wishes to clarify that the record date for determining shareholders entitled to receive notice of and vote at the Meeting is August 13, 2026.

ADVISORS

Kingsdale Advisors is acting as strategic shareholder advisor to TNR Gold. Norton Rose Fulbright Canada LLP is acting as legal counsel to TNR Gold.

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

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 Marian a Lithium Project has been approved by the Argentina provincial government of Salta for an environmental impact report. Ganfeng Lithium officially inaugurated Mariana Lithium’s start of production at a 20,000 tons-per-annum lithium chloride plant on February 12, 2025.

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.

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

Cautionary Statement Regarding Forward-Looking Information

Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: the acquisition of shares of TNR by certain management insiders; the validity of the advance notice nomination; the Meeting 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 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 in 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; debt or equity financings will be available to TNR; 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.

TNR Gold Schedules Annual General and Special Meeting

2026-08-30T10:08:41.509-07:00

“I am pleased to share updates that reflect the continued support of our leadership team and strategic partners for TNR Gold’s development plan,” commented Kirill Klip, Executive Chairman of TNR Gold.
“I have continued to increase my share ownership in TNR Gold, adding an additional 4,200,000 shares this year. My current holding of 31,363,000 shares reflects my ongoing commitment to the Company and confidence in its strategic direction. TNR Gold’s Chair of the Audit Committee, Chief Financial Officer and Vice President, Corporate Development have also increased their ownership positions.”

Kirill Klip added, “As previously announced on July 17, 2026, Altius Minerals Corporation (“Altius”) acquired 7,435,000 shares of TNR Gold at price per share of CAN$0.23, increasing its ownership position in TNR Gold to an aggregate of 30,935,000 shares. Altius’s increased stake reflects their continued strategic interest in TNR Gold’s management team, its strategic plan and TNR Gold’s royalty portfolio. We welcome Altius increasing its strategic, non-controlling stake in TNR Gold.”

NEWS RELEASE

TNR Gold Schedules Annual General and Special Meeting

"Vancouver, British Columbia – August 11, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) announces that it has called an annual general and special meeting of its shareholders (the “Meeting”) to be held on September 22, 2026. The record date for shareholders entitled to receive notice of and to vote at the meeting is August 12, 2026.

Shareholders will receive details about the matters to be presented at the Meeting and about how to vote in a management information circular to be delivered to them in advance of the Meeting.

Kingsdale Advisors is acting as strategic shareholder advisor to TNR Gold. Norton Rose Fulbright Canada LLP is acting as legal counsel to TNR Gold.

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

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.

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.

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

Cautionary Statement Regarding Forward-Looking Information

TNR Gold NSR Royalty Update – McEwen Provides Update on NSR Royalty on Los Azules Copper

2026-08-30T09:56:55.248-07:00

“I am pleased to share updates that reflect the continued support of our leadership team and strategic partners for TNR Gold’s development plan,” commented Kirill Klip, Executive Chairman of TNR Gold.
“I have continued to increase my share ownership in TNR Gold, adding an additional 4,200,000 shares this year. My current holding of 31,363,000 shares reflects my ongoing commitment to the Company and confidence in its strategic direction. TNR Gold’s Chair of the Audit Committee, Chief Financial Officer and Vice President, Corporate Development have also increased their ownership positions.”

Kirill Klip added, “As previously announced on July 17, 2026, Altius Minerals Corporation (“Altius”) acquired 7,435,000 shares of TNR Gold at price per share of CAN$0.23, increasing its ownership position in TNR Gold to an aggregate of 30,935,000 shares. Altius’s increased stake reflects their continued strategic interest in TNR Gold’s management team, its strategic plan and TNR Gold’s royalty portfolio. We welcome Altius increasing its strategic, non-controlling stake in TNR Gold.”

Powered by Tesla Energy rEVolution: TNR Gold Los Azules Copper NSR Royalty Holding with McEwen Inc. Presentation

NEWS RELEASE

TNR Gold NSR Royalty Update – McEwen Provides Update on NSR Royalty on Los Azules Copper

Vancouver, British Columbia – August 10, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to advise that McEwen Inc. (“McEwen”) has announced an update on the Los Azules copper, gold and silver project in San Juan, Argentina. TNR holds a 0.4% net smelter returns royalty (“NSR Royalty”) (of which 0.04% of the 0.4% NSR Royalty is held on behalf of a shareholder) on the Los Azules Copper Project. The Los Azules project is held by McEwen Copper Inc. (“McEwen Copper”), which is 46.3% owned by McEwen.

An extract from a news release issued by McEwen on August 5, 2026, stated:

“Significant Ownerships
McEwen Copper
McEwen owns a 46.3% equity stake in McEwen Copper. The 2025 Feasibility Study for McEwen Copper’s Los Azules project confirmed robust project economics, including initial 5-year average production of 205 ktpa of copper cathodes and a $1.71/lb C1 cash cost over a 22-year mine life. The study also identified the potential to extend the mine life by an additional 33 years under the Nuton case for a total of 55 years, with average copper cathode production of approximately 141 ktpa. The Nuton case is preliminary in nature and is not supported by Mineral Reserves.
McEwen also owns a 1.25% NSR royalty on McEwen Copper’s Los Azules copper project.
Under the 2025 Feasibility Study base case of $4.35/lb copper, the royalty is projected to generate approximately $389.5 M of undiscounted pre-tax cash flow over the initial 22-year operating period. Under the PEA-level Nuton case, which assumes a copper price of $4.80/lb and could potentially extend the mine life by an additional 33 years, the royalty is projected to generate a further approximately $633.5 M.
Based on the 2025 Feasibility study and using a recent copper spot price of $6.50/lb, McEwen’s royalty is projected to generate approximately $584 M from the initial case and $860 M from the potential Nuton extension, for a combined undiscounted pre-tax royalty cash flow of approximately $1.4 B.
Los Azules continued to advance toward a Final Investment Decision (“FID”) during Q2, with approximately 27% of the planned FID work program deliverables completed as of June 30, 2026, and the balance targeted for completion in Q4 2026. Key activities included advancing vendor engineering for the SX/EW plant, sulfuric acid plant and crushing systems, progressing mining fleet evaluation, power supply assessment and EPCM contractor selection, and commencing construction of the access road and site camp. The Company also completed its planned H1 2026 field campaign of geotechnical, condemnation and hydrogeological drilling.
During Q2, Société Générale was appointed as exclusive financial advisor for the project’s debt financing process and preparations were initiated for a potential initial public offering. McEwen Copper is also reviewing an enhanced financing proposal received from European export credit agency. Management remains focused on completing the FID work program, with construction targeted to commence in early 2027 and production in 2030, subject to project financing and customary approvals.”
For further details, visit the McEwen website.
Qualified Persons
The McEwen Copper feasibility study technical report has an effective date of September 3, 2025.
The feasibility study and associated news disclosures were reviewed and verified by the following qualified persons who are independent consultants of McEwen Copper:
Technical aspects of the news release related to Project Execution, Development information, and other information excluding mineral resource disclosure – James L. Sorensen – FAusIMM Reg. No. 221286 with Samuel Engineering.
Technical aspects of the news release related to Metallurgical Summary and Process Information –
Michael McGlynn – SME Registered Member No. 4149430 with Samuel Engineering.
Disclosure related to the updated Los Azules mineral resource estimate – Jeff Sullivan – FAusIMM Reg. No. 201778 with CRM-SA, LLC.
Disclosure related to the initial Los Azules mining, and mineral reserve estimate – Gordon Zurowski, P.Eng with AGP Mining Consultants.
Technical aspects of the news release related to Financial Modeling – Steve Pozder – P.E. with Samuel Engineering.”

About McEwen Copper

McEwen Copper Inc. is a copper development company whose principal asset is the Los Azules project in San Juan Province, Argentina – an advanced-stage project counted among the largest undeveloped copper resources globally. McEwen Copper is 46.3%-owned by McEwen.

Qualified Person

The McEwen press release appears to be reviewed and verified by a Qualified Person (as that term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects) and the procedures, methodology and key assumptions disclosed therein are those adopted and consistently applied in the mining industry, but no Qualified Person engaged by TNR has done sufficient work to analyze, interpret, classify or verify McEwen’s information to determine the current mineral resource or other information referred to in its press releases. Accordingly, the reader is cautioned in placing any reliance on the disclosures therein.

Kirill Klip, the Company’s Chief Executive Officer, stated, “We are pleased that McEwen Copper has reached this milestone following the release of the feasibility study and securing of an environmental permit for the construction and operation of Los Azules. The collaboration between McEwen Copper and International Finance Corporation (IFC), and admission to the Argentina Regime of Incentives for Investment (RIGI) could move the Los Azules copper project development closer to a construction decision.

Mining in Argentina is being recognized by the government as an integral part of its economic development plan, providing jobs and enriching local communities. The president of Argentina has introduced important government policies aimed at supporting business and unlocking the country’s economic potential.

TNR Gold’s vision is aligned with the leaders of innovation among automakers like Stellantis, whose aim is to decarbonize mobility, and mining industry leaders such as Rob McEwen, whose vision is ‘to build a mine for the future, based on regenerative principles that can achieve net zero carbon emissions by 2038’.

Together with Rio Tinto’s Venture Nuton®, McEwen Copper is exploring new technologies that save energy, water, time and capital, advancing Los Azules towards the goal of leading environmental performance. The involvement of Rio Tinto, with its innovative technology, may also accelerate realizing the potential of the Los Azules project.

The green energy rEVolution relies on the supply of critical metals like copper. Delivering ‘green copper’ to Argentina and the world will contribute to the clean energy transition and electrification of transportation and energy industries.

The feasibility study confirms Los Azules project as a long-life, low-cost producer of high-purity copper cathodes with strong economic returns and sustainability. It highlights the potential to create a robust leach project while reducing the environmental footprint, and greater environmental and social stewardship sets the project apart from other potential mine developments.

TNR Gold does not have to contribute any capital for the development of the Los Azules Project. The essence of our business model is to have industry leaders like McEwen as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

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.

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

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: 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; TNR’s corporate objectives and future potential transactions being considered by the Special Committee and the Board, and the benefit that TNR’s shareholders may derive from same; 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; future revenue and increased valuations of TNR’s royalty holdings caused by potential strategic alliances with major mining companies and investment institutions; the potential production from the Mariana Lithium Project; future investment of substantial capital in the development of the Shotgun Gold Project by a potential partner of TNR; the possible benefits that may accrue to the Los Azules copper project; the potential acceleration of the Los Azules project’s potential due to Rio Tinto’s involvement in the project; and the potential benefits caused by delivering ‘green copper’ to Argentina and the world. 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 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 in 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; debt or equity financings will be available to TNR; 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, Lundin Mining and BHP 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."

Altius Minerals Doubles Down on TNR Gold's Royalty Strategy as First Cash Flow Nears

2026-07-29T06:45:39.476-07:00

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR royalty (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

The “TNR Gold Story”

“TNR Gold’s royalty-focused strategy is delivering results and has been validated by a major industry player.”

“TNR Gold is building the Green Energy Metals Royalty and Gold Company with the backing of a strong coalition of industry leaders. Sophisticated partners — including royalty giant Altius Minerals, established operators such as McEwen Copper (with support from Rio Tinto and Stellantis), Ganfeng Lithium, and others — have validated our high-quality assets and royalty model through strategic investments, operational advancements, and ongoing collaboration. Under disciplined leadership and with aligned long-term stakeholders, TNR Gold is positioned to deliver sustainable value through royalty cash flows and strategic growth."

Key value drivers:

Altius Minerals’ C$4.2M strategic investment (9.9% stake, no warrants, at 30-day VWAP) is third-party validation of the portfolio, TNR Gold management, and our long-term vision.
Strong performance: ~240% gain in 2025 and +60% YTD High in 2026
Imminent catalysts: Mariana Lithium production ramp-up and expected potential royalty cash flows (including Ganfeng buyback), Los Azules feasibility study impact, potential Shotgun JV.
Insider alignment: Recent accumulation by CEO, Chair of the Audit Committee, and other insiders.
Disciplined capital allocation: Partnerships (Ganfeng, McEwen, Altius) minimise dilution while advancing high-upside assets.

"TNR Gold Corp (TSX-V:TNR, FRA:TNW, OTC:TRRXF) executive chairman Kirill Klip joined Proactive's Stephen Gunnion to discuss key milestones across the company's royalty portfolio, from fresh institutional backing to the first signs of cash flow.

Altius Minerals has increased its TNR holding to 30,935,000 shares through open market purchases — a move Klip described as further validation of the company's royalty strategy. More significantly, Ganfeng Lithium has begun production at the Mariana Lithium project in Argentina and exported its first lithium chloride, bringing TNR's first royalty payment into sight. "TNR Gold will graduate from project generation royalty company to hopefully royalty generation cash flow company," Klip said.

On Los Azules, Klip highlighted improving copper project economics, progress towards a final investment decision and reported interest from Rio Tinto in increasing its exposure, alongside the potential McEwen Copper IPO as a catalyst to watch.

The interview also covered the Shotgun Gold Project in Alaska, where TNR is pursuing a joint venture strategy with major miners while keeping its own capital expenditure minimal and generating data for potential partners." (Proactive)

Dear Shareholders,

I am delighted to share important updates that reflect the growing confidence in TNR Gold and the strong alignment across our leadership team and strategic partners.

I continue to ramp up my position in TNR Gold and have significantly increased my stake by an additional 2,000,000 shares this year. My holding of 29,163,000 shares in TNR Gold serves as further evidence of my deep personal commitment to the Company and strong confidence in our experienced Team and its strategic development plan. TNR Gold’s Chair of the Audit Committee, John K. Davies, and other insiders have recently purchased shares in the open market.

As we announced, Altius Minerals Corporation has acquired on the public market an additional 7,435,000 shares of TNR Gold Corp. at CAN$0.23 per share on July 17, 2026, increasing their strategic stake in TNR Gold to a total of 30,935,000 shares. This is another powerful milestone that underscores the strength and credibility of TNR Gold’s Team, our royalty portfolio and our strategy. We welcome Altius increasing its strategic, non-controlling stake in TNR Gold.

Chart by Nicholas Winton

It is with great pleasure that I share Mr Market’s strong recognition of TNR Gold’s continued success. This year, TNR Gold shares reached a high of 28 cents and closed at 27 cents on July 28, 2026. These levels reflect a robust 59% year-to-date increase — a direct result of the dedication and hard work of the entire TNR Gold Team.

This performance builds impressively on the exceptional 240% return achieved in the prior year.

We remain committed to advancing our initiatives and delivering long-term value for our shareholders.

As I have said before:

“TNR Gold’s royalty-focused strategy is delivering results and has been validated by a major industry player.”

Together, we continue building The Green Energy Metals Royalty and Gold Company.

None of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

Thank you for your continued support.

Our guiding principle remains unchanged: "Solid values in uncertain times.”

Best, and stay safe.

Kirill Klip,

Executive Chairman

TNR Gold Team

We build wealth for our Shareholders.

The Mining Alliance of Trust

There is no investment advice in any of our posts.

Always consult a qualified financial adviser before making any investment decisions.

Do Your Own Research.

TNR Gold Insiders Ramp Up Holdings as Altius Investment Fuels Confidence

(Only publicly available information is used on this Blog and any Kirill Klip and TNR Gold social media feeds.)

"Meanwhile, following this announcement and when we do not have any material news to share with all of you, according to all legal requirements and regulations, I have significantly boosted my stake in TNR Gold by acquiring an additional 500,000 shares. I continue to increase my position. TNR Gold’s Chief Financial Officer, Maurice Brian Brooks, and John K. Davies, Chair of the Audit Committee, have recently purchased shares in the open market."

This strategic investment by Altius, combined with insider buying, positions TNR Gold to capitalise on its unique royalty portfolio and partnerships with leading operators, while advancing value creation for all shareholders.

"After months of diligent negotiations, in line with our announced Strategy of Corporate Development, we are delighted to welcome Altius, a CAN$2.9B market-cap royalty company, as a strategic investor in TNR Gold. It is a strategic, non-control position that signals confidence in our Company.

We received our first "Michelin Star", and Mr Market celebrated with us this time. TNR Gold shares traded as high as 27 cents and closed at 26 cents yesterday, jumping 30% after this announcement."

The Altius team shares the fundamental values, vision, and strategic objectives of the TNR Gold team for building the Green Energy Metals Royalty and Gold Company. This strategic investment enables TNR Gold to advance the execution of our strategic plan, elevating our vision of building a new, dynamic royalty and gold company to the next level. It further reflects strong market recognition by our strategic partners of the quality of our assets and their potential.

The potential of our royalty portfolio is now well recognised across the industry. In the next very important stage, we will tell our GEM Royalty Story to Mr Market and Institutional Investors, whose participation will help us achieve our well-defined goals.

Kirill Klip, Executive Chairman of TNR Gold stated, “We are delighted to report another powerful milestone that underscores the strength and credibility of TNR Gold’s strategy. We welcome Altius increasing its strategic, non-controlling stake in TNR Gold. The closing of the strategic investment, announced on May 25, 2026, enabled TNR Gold to advance the execution of its strategic plan and reflects strong market recognition of the quality of our assets, and their potential.”

Kirill Klip continued, “Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals, which are powering the Energy rEVolution, and the gold industry that is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders. This coalition of industry leaders and aligned stakeholders validates our royalty-focused approach. Sophisticated partners are actively recognizing, advancing, and helping safeguard our assets through strategic alignment, operational progress, and shared commitment to value creation. My holding of 27,963,000 shares in TNR Gold serves as further evidence of my deep personal commitment to the Company, and strong confidence in our experienced team and its strategic development plan. We look forward to working with Altius to maximize value for all our shareholders.”

"Altius Minerals Corporation is a prominent Canadian diversified mining royalty company. This royalty giant with a $3B+ market cap is made in Canada and distinguished by deep expertise and a commitment to excellence. With deep roots in project generation, relationship-building, and business nurturing, Altius stands out as a rising star in the royalty sector."

TNR Gold:

NEWS RELEASE

TNR Gold Announces Altius’ Boost of its Strategic Stake

"Vancouver, British Columbia – July 22, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) announces that according to the public filing on SEDI.ca filed on July 21, 2026, Altius Minerals Corporation has acquired on the public market an additional 7,435,000 shares of TNR Gold Corp. at CAN$0.23 per share on July 17, 2026, increasing their strategic stake in TNR Gold to a total of 30,935,000 shares.

ABOUT ALTIUS MINERALS CORPORATION

Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with global growth trends including increasing electricity-based market share within energy usage, global infrastructure build and refurbishment growth, increased EAF based steelmaking, steadily increasing agricultural fertilizer requirements and the enhanced appetite for financial asset diversification through precious metals ownership. These macro-trends each hold the potential to cause higher demand for many of Altius’s commodity exposures including potash, high purity iron ore, renewable energy, base and battery metals, and gold. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for royalties and that has a demonstrated track record of driving outsized direct returns from its overall royalty investment portfolio. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices, and the S&P/TSX Canadian Dividend Aristocrats Index.

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

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.

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

Cautionary Statement Regarding Forward-Looking Information

TNR Gold Insiders Ramp Up Holdings as Altius Investment Fuels Confidence

2026-07-26T00:41:45.981-07:00

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR royalty (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

The “TNR Gold Story”

“TNR Gold’s royalty-focused strategy is delivering results and has been validated by a major industry player.”

Key value drivers:

Altius Minerals’ C$4.2M strategic investment (9.9% stake, no warrants, at 30-day VWAP) is third-party validation of the portfolio, TNR Gold management, and our long-term vision.
Strong performance: ~240% gain in 2025 and +60% YTD High in 2026
Imminent catalysts: Mariana Lithium production ramp-up and expected potential royalty cash flows (including Ganfeng buyback), Los Azules feasibility study impact, potential Shotgun JV.
Insider alignment: Recent accumulation by CEO, Chair of the Audit Committee, CFO, and others.
Disciplined capital allocation: Partnerships (Ganfeng, McEwen, Altius) minimise dilution while advancing high-upside assets.

Dear Shareholders,

I am delighted to share important updates that reflect the growing confidence in TNR Gold and the strong alignment across our leadership team and strategic partners.

I continue to ramp up my position in TNR Gold and have significantly increased my stake by an additional 500,000 shares. My holding of 28,463,000 shares in TNR Gold serves as further evidence of my deep personal commitment to the Company and strong confidence in our experienced Team and its strategic development plan. TNR Gold’s Chief Financial Officer, Maurice Brian Brooks, and John K. Davies, Chair of the Audit Committee, have recently purchased shares in the open market.

Chart by Nicholas Winton

It is with great pleasure that I share Mr Market’s strong recognition of TNR Gold’s continued success. This year, TNR Gold shares reached a high of 28 cents and closed at 27 cents on July 24, 2026. These levels reflect a robust 59% year-to-date increase — a direct result of the dedication and hard work of the entire TNR Gold Team.

This performance builds impressively on the exceptional 240% return achieved in the prior year.

We remain committed to advancing our initiatives and delivering long-term value for our shareholders.

As I have said before:

“TNR Gold’s royalty-focused strategy is delivering results and has been validated by a major industry player.”

Together, we continue building The Green Energy Metals Royalty and Gold Company.

None of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

Thank you for your continued support.

Our guiding principle remains unchanged: "Solid values in uncertain times.”

Best, and stay safe.

Kirill Klip,

Executive Chairman

TNR Gold Team

We build wealth for our Shareholders.

The Mining Alliance of Trust

There is no investment advice in any of our posts.

Always consult a qualified financial adviser before making any investment decisions.

Do Your Own Research.

Royalty Giant Altius Joins the Coalition: Strengthening TNR Gold’s Path to Royalty Cash Flows

"Altius Minerals Corporation is a prominent Canadian diversified mining royalty company. This royalty giant with a $3B market cap is made in Canada and distinguished by deep expertise and a commitment to excellence. With deep roots in project generation, relationship-building, and business nurturing, Altius stands out as a rising star in the royalty sector."

(Only publicly available information is used on this Blog and any Kirill Klip and TNR Gold social media feeds.)

"Meanwhile, following this announcement and when we do not have any material news to share with all of you, according to all legal requirements and regulations, I have significantly boosted my stake in TNR Gold by acquiring an additional 500,000 shares. I continue to increase my position. TNR Gold’s Chief Financial Officer, Maurice Brian Brooks, and John K. Davies, Chair of the Audit Committee, have recently purchased shares in the open market."

"After months of diligent negotiations, in line with our announced Strategy of Corporate Development, we are delighted to welcome Altius, a CAN$2.9B market-cap royalty company, as a strategic investor in TNR Gold. It is a strategic, non-control position that signals confidence in our Company.

We received our first "Michelin Star", and Mr Market celebrated with us this time. TNR Gold shares traded as high as 27 cents and closed at 26 cents yesterday, jumping 30% after this announcement."