Targa Exploration Corp. announced that it has entered into purchase and sale agreements with a syndicate of sellers consisting of Shawn Ryan, Wildwood Exploration Inc. (Wildwood), Isaac Fage, Callum Ryan, Simon Cash and Adam Fage (collectively, the Sellers) to purchase (the Transaction) a 100% interest in and to the Leaf River lithium project (the "Leaf River Project"), the Raglan South lithium project, and the Musquaro Lake lithium project. Located in the northern and eastern regions of Quebec, the Projects comprise of 3,488 active claims, covering an area of approximately 165,916 hectares.

The Company believes that the Projects hold great potential for spodumene-bearing lithium pegmatites. The Projects were discovered and selected by Shawn Ryan, one of Canada's most prominent prospectors, who employed his extensive knowledge and experience in interpreting regional lake sediment geochemical data, as well as gravity and surficial anomaly maps to identify the most prospective projects. The Leaf River Project consists of two individual claim blocks that include 564 active claims totaling 25,636 hectares located within the Nunavik region of northern Quebec and 140 km from the community of Tasiujaq located on the western side of the Ungava Bay.

The claim blocks were staked to cover highly anomalous lake sediment geochemistry in lithium, caesium, and rubidium. Both claim blocks hold many samples that are over the 99th percentile for all three elements in the Quebec wide lake sediment dataset. These highly anomalous samples sit on or near regional magnetic lineaments (structures) that have been recognised at other projects (e.g. Patriot Battery Metals' Corvette Li projects) to be associated with the distribution of spodumene bearing pegmatites.