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.

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” or “could” occur, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: the upcoming Meeting; the advancement of TNR’s key assets towards development milestones; TNR’s future receipt of cash flows from its royalty holdings and the subsequent contribution of significant value to its shareholders; the possible growth of TNR’s value; and TNR’s strategy and business objectives. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled “Risks” and “Forward-Looking Statements” in the Company’s interim and annual Management’s Discussion and Analysis which are available under the Company’s SEDAR+ profile on www.sedarplus.ca. While management believes that 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 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.

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” or “could” occur, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: the upcoming Meeting; the advancement of TNR’s key assets towards development milestones; 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."

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.

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 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 Gold also holds a 0.4% NSR royalty on the Los Azules Copper Project, of which 0.04% of the 0.4% NSR royalty is held on behalf of a shareholder of the Company. The Los Azules Copper Project is being developed by McEwen Inc.

TNR also holds a 7% NPR on the Batidero I and II properties of the Josemaria Project that is being developed by the joint-venture between Lundin Mining and BHP.

TNR provides significant exposure to gold through its 90% holding in the Shotgun Gold porphyry project in Alaska. The project is located in Southwestern Alaska near the Donlin Gold project, which is being developed by Novagold Resources. The Company’s strategy with the Shotgun Gold Project is to attract a joint venture partnership with a major gold mining company. The Company is actively introducing the project to interested parties.

At its core, TNR provides a wide scope of exposure to gold, copper, silver and lithium through its holdings in Alaska (the Shotgun Gold porphyry project) and royalty holdings in Argentina (the Mariana Lithium project, the Los Azules Copper Project and the Batidero I & II properties of the Josemaria Project), and is committed to the continued generation of in-demand projects, while diversifying its markets and building shareholder value.

On behalf of the Board of Directors,

Kirill Klip
Executive Chairman
www.tnrgoldcorp.com

For further information concerning this news release please contact Kirill Klip +1 604-229-8129

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” or “could” occur, although not all forward-looking statements contain these identifying words. 

Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: the 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.

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."

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

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.”

“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.”

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.

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.”

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.

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

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: Altius role with increased shareholdings; 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; 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 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."