Targa Exploration Corp. announced the results of the Phase I soil sampling and ground VLF survey on at its Shanghai Project located in the western part of the Selwyn basin in the Yukon Territory (the "Shanghai Project"). As disclosed in the Company's news release dated November 8, 2022, the field work completed by the Company at the Shanghai Project included the collection of 1,297 soil samples and a 19-line kilometer magnetometer and very low frequency electromagnetic (VLF) geophysical survey along 28 survey lines tacking 1978 readings at 10m station spacing.

Highlights of the Phase I exploration program at the Shanghai Project include: The discovery of a new, extremely high tenor gold in soil anomaly over 700m in length at the center of the 27.48km2 property. Gold in soil values grading up to 6.1 g/t and 2.0 g/t Au from this newly discovered zone (Figure 1), representing the highest-grade gold in soil sampled collected on the Shanghai Project to date. Of the 1297 samples collected in 2022, 388 samples returned values over 10ppb gold ("Au"), 14 samples returned values greater than 0.1 g/t Au, and 2 samples >1g/t Au.

The gold in soil anomaly is thought to coincide with second order mineralized fluid pathways between the Robert Service Thrust and Tombstone Thrust, two major structural features of the region. Next steps will include detailed infill soil sampling and high-resolution geophysics focused on the newly discovered gold in soil anomaly.