<div id="readability-page-1"><article>Vancouver, British Columbia--(Newsfile Corp. - February 23, 2026) - TNR Gold Corp. (TSXV: TNR) (&#34;TNR&#34;, &#34;TNR Gold&#34; or the &#34;Company&#34;) is pleased to announce that Ganfeng Lithium (&#34;Ganfeng&#34;) has provided an update on the Mariana Lithium Project in Argentina. TNR holds a 1.5% NSR Royalty on the Mariana Lithium Project, of which a 0.15% NSR Royalty is held on behalf of a shareholder.On February 14, 2025, Ganfeng announced commencement of formal production of the Mariana Lithium salt-lake project in Argentina. Ganfeng stated in its announcement: &#34;A production ceremony for the first phase of the Mariana lithium salt-lake project in Argentina owned by Litio Minera Argentina S.A. (hereinafter referred to as &#34; LMA &#34;), a wholly-owned subsidiary of Ganfeng Lithium Group Co., Ltd. was held at the project site on 12 February 2025, which means the formal production of the first phase of the Mariana lithium salt-lake project.&#34;Mariana lithium salt-lake project is located in Salta Province, Argentina, with total lithium resources of approximately 8,121,000 tons of LCE currently explored. After the formal production of the first phase of Mariana lithium salt-lake project with an annual production capacity of 20,000 tons of lithium chloride production line, the Company will actively accelerate the ramp-up of the production capacity of the project. With the gradual release of production capacity, the supply and cost structure of the lithium resources of the Company will be further optimized, the Company's profitability will be enhanced, and the Company's core competitiveness in the global market will be continuously improved.&#34;The Company will perform the corresponding procedures and obligation of information disclosure according to the subsequent progress of the relevant matters. Investors are advised to invest rationally and pay attention to the investment risks. &#34;Announcement is hereby given.&#34;As stated by Gasgoo out of Shanghai:&#34;Ganfeng Lithium has invested in multiple salt lake projects across Argentina, including Cauchari-Olaroz, Mariana, PPG, PG, Incahuasi, and SDLP. Except for Cauchari-Olaroz, the other five projects are all situated in Salta Province.&#34;Luo Xiaofeng, head of Ganfeng Lithium's South America operations, highlighted the company's role in strengthening China-Argentina ties: 'Through joint efforts, in September 2024, we facilitated the signing of a letter of intent for a sister-province relationship between Jiangxi Province, China, and Salta Province, as well as a sister-city agreement between Xinyu City and Salta City.' These agreements mark a new phase in bilateral cooperation and set a model for China-Argentina industrial collaboration.&#34;Currently, Ganfeng Argentina is preparing to submit RIGI applications for the Mariana, PPG, and Cauchari-Olaroz projects. RIGI, introduced by the Argentine government in 2024, is a large-scale investment incentive program offering tax, foreign exchange, and import-export policy benefits to enterprises, further deepening Ganfeng Lithium's cooperation with Argentina.&#34;Over the years, Ganfeng Lithium has steadily expanded its investments in Argentina, not only in equity, project construction, and equipment procurement but also in community development. The company has provided free medical equipment, education programs, and essential supplies, significantly improving local living conditions.&#34;The launch of the Mariana project injects new momentum into Salta's economy and mining sector. Salta Governor Gustavo Sáenz emphasized the project's importance, stating, &#34;Mariana is one of the most significant projects in our province. Its development has not only driven economic growth but has also created over 11,600 and jobs both directly and indirectly, bringing transformative change to the region's mining industry.&#34;&#34;Alongside economic contributions, Ganfeng Lithium remains committed to environmental sustainability. To conserve local water resources, the Mariana project utilizes non-potable water sources with excessive heavy metal content and implements water recycling systems. Despite the project's remote high-altitude location and limited infrastructure, Ganfeng Lithium has built a 120MW photovoltaic power station and a 288MWh energy storage system equipped with its in-house developed battery technology. This ensures that the Mariana project operates entirely on renewable energy with uninterrupted 24-hour power supply.&#34;Additionally, to protect local wildlife such as flamingos and alpacas, Ganfeng Lithium has established 19 ecological conservation zones around the Mariana project. The company collaborates with local research institutions and biologists to monitor water quality and vegetation changes in real-time, publishing regular environmental reports to promote harmonious coexistence between industry and nature.&#34;Ganfeng Lithium made its first investment in Argentina's salt lake projects in 2011. Over the past 14 years, the company has steadily expanded its local footprint, advancing exploration and construction while fostering strong ties with local communities and governments.&#34;&#34;We are building the green energy metals royalty and gold company and now we are graduating to the cash flow generating royalty company&#34;, commented Kirill Klip, Executive Chairman of TNR Gold. &#34;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.&#34;Our portfolio provides a unique combination of assets with exposure to multiple aspects of the mining cycle; the potential of blue-sky discovery at Shotgun Gold Project, and important partnerships with industry leaders Like Ganfeng Lithium, McEwen Mining, Lundin Mining and BHP as operators on the projects that have the potential to generate royalty cashflows that will contribute significant value for the Company.&#34;We repaid our investment loan in full, and our Company has no debt. We believe that the recent market prices of our shares do not properly reflect the underlying value of the shares. Our transformation from the project generation junior mining company into the cash flow generating royalty company will bring the necessary catalyst for the market valuation of our assets.&#34;We are very pleased that Ganfeng officially inaugurated the Mariana Lithium's start of production at a 20,000 tons-per-annum lithium chloride plant on February 12, 2025. We are looking forward to our first NSR royalty cash flow payments from the Mariana Lithium Project.&#34;TNR does not have to contribute any capital for the development of the Mariana Lithium Project, the Los Azules Copper Project or the Josemaria Project. The essence of our business model is to have industry leaders like Ganfeng Lithium as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.&#34;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 have the potential to generate royalty cashflows that will contribute significant value for our shareholders. Over the past twenty-nine 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% NSR royalty is held on behalf of a shareholder. Ganfeng Lithium's subsidiary, Litio Minera Argentina (&#34;LMA&#34;), 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 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. The Los Azules Copper Project is being developed by McEwen Mining. TNR also holds a 7% net profits royalty holding 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 Barrick Gold and 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 &amp; 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 Chairmanwww.tnrgoldcorp.comFor 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 InformationExcept for statements of historical fact, this news release contains certain &#34;forward-looking information&#34; within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as &#34;plan&#34;, &#34;expect&#34;, &#34;project&#34;, &#34;intend&#34;, &#34;believe&#34;, &#34;anticipate&#34;, &#34;estimate&#34;, &#34;will&#34;, &#34;could&#34; and other similar words, or statements that certain events or conditions &#34;may&#34; or &#34;could&#34; 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 corporate objectives, and future potential transactions being considered by the Special Committee and the Board. 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 &#34;Risks&#34; and &#34;Forward-Looking Statements&#34; 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 Mining 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.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284829<img src="https://imageproxy.pbkrs.com/https://api.newsfilecorp.com/newsinfo/284829/375?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://api.newsfilecorp.com/newsinfo/284829/375"/></article></div>

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TNR Gold Corp. announced that Ganfeng Lithium has commenced production at the Mariana Lithium Project in Argentina, where TNR holds a 1.5% NSR Royalty. The project, with an annual capacity of 20,000 tons of lithium chloride, aims to enhance profitability and competitiveness. Ganfeng has invested in multiple projects in Argentina, contributing to local development and environmental sustainability. The Mariana project is expected to create over 11,600 jobs and utilizes renewable energy sources. TNR Gold is transitioning to a cash flow-generating royalty company focused on critical materials for the energy sector.

TNR Gold NSR Royalty Update - Ganfeng's Mariana Lithium Officially Commenced Production | TRRXF Stock News