Star Metro - Trans Canada Gold Enters into an Option Agreement with Bear Mountain Gold Mines to Acquire a 60% Interest in the Harrison Lake District Scale Gold Property, with $10.0 Million Dollars in Prior Exploration Expenditures

The initial payment of $50,000 and issuance of 2,000,000 shares to BMGM are firm commitments and must be made regardless of whether the Company exercises the option in full.

BMGM will carry out all exploration operations on the Property in accordance with work programs prepared by BMGM and approved by an operations committee including two or more representatives of the Company and one representative of BMGM. BMGM will act as an independent contractor and will be entitled to charge an administrative fee equal to 10% of the expenditures incurred from time to time (which administrative fee will form part of the expenditures for the purposes of meeting the expenditure requirements under the Option Agreement).

BMGM holds the Property pursuant to an underlying option agreement with Omineca Mining and Metals Ltd. The Company holds its option as a "sub-option" subject to the terms of the underlying option agreement, pursuant to which the Property is subject to a 2% net smelter return royalty and up to $800,000 in annual $200,000 special royalty payments on the occurrence of certain events. The Option Agreement requires that at least 50% of expenditures incurred must be incurred in a specified area. The Option Agreement also contains an area of interest provision pursuant to which any interest acquired by a party within three kilometers of the outer boundaries of the Property (including mineral claims, licenses, water rights, surface rights, exploration permits or other interests) become part of the Property and subject to the terms of the Option Agreement.

Under the terms of the Option Agreement, upon exercise of the Option and earning of a 60% interest by the Company, further development of the Property will be carried out under 2 separate joint ventures (each covering a separate area of the Property) between the Company and BMGM.

Pursuant to the Option Agreement, BMGM has agreed to vote all the shares of the Company it holds in favour of resolutions recommended by management of the Company at meetings of the Company's shareholders.

The Harrison Lake Gold Project hosts a seven-kilometer-long ridge, in a District scale gold property that contains extensive intrusive related gold mineralization. Local prospectors discovered and partially mined a high-grade vein (called the RN Mine) in the northern part of the current Property in the late 1970's and Vancouver based Abo Oil Corp and Kerr Adisson Mines ("Kerr Adisson") optioned the claims in the early 1980's. Preliminary work identified "gold in soil" anomalies near the discovery and follow up drilling intersected wide intervals of stockwork type mineralization within small diorite intrusions (called the Jenner and Portal Zones) including DDH 84-52: 102 meters of 3.54 g/t. In 1986 Bema International Resources ("Bema") acquired Abo Oil and entered into a joint venture agreement with Kerr Addisson Mines that funded approximately $7 million in exploration drilling and underground development work.

The exploration work funded by Bema and Kerr Adisson was primarily focused on the Jenner and Portal Zones but also identified a corridor of similar diorite intrusions and "gold in soil" anomalies that extended for more than two kilometers to the south of the original discovery. Follow up drilling of some of these anomalies identified more diorite hosted stockwork type mineralization including the Hill Zone which reportedly returned 30 meters of 3.0 g/t gold. Approximately 20,000 meters of historic drilling and several hundred meters of underground development work were completed by Bema and Kerr Adisson, but the claims lapsed in 2000 and were re-staked by Eagle Plains Resources (and subsequently transferred to Omineca Mining and Metals as part of a corporate restructuring in 2006).

Based on the drilling completed above the 50 meter ASL level Norman, (1989), Summary Report of the Harrison Gold Project, New Westminster Mining Division, Harrison Lake, British Columbia, using a one gram cut-off grade for the Jenner Zone and a 2 gram cut-off grade for the Portal Zone estimated that the Jenner and Portal Zones contain 2,458,674 tons at an average grade of 2.79 g/t or 220,300 ounces. This historical estimate is relevant to the Harrison Gold Property as it suggests there may be mineralization present. However, this estimate does not use the resource categories as defined by CIM and the differences to the CIM categories are not known. The qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. The Company is not treating the historical estimates as a current mineral resource.

The estimate for the Jenner Zone was based on a total of 2,920 meters of inclined diamond drilling in 21 surface holes and 2,754 meters of vertical and inclined diamond drilling in 23 underground holes. The drilling was completed during the period 1983 to 1988. Drill holes are variously oriented east-west, north-south and at several off-sectional azimuths. According to Norman, drill hole information is relatively sparse in the north half of the stock (north of 9500 N) and little drilling was done below the 50 meter level (ASL).

The previously described gold zones established the basis from which Norman estimated a number of separate categories. His methods of mineral (resource) block delineation and other (resource) estimation procedures are outlined in point form below: Parameters of the tonnage/grade calculation were as follows, as summarized by Norman, (1989).

• The sectional method of mineral reserve ("Mineral Resource") estimation was employed because of the predominantly low-angle structural characteristics of the mineralized vein systems and interpreted gold zones.

• Gold histograms, which show natural assay "breaks' down a drill hole, were relied upon for determining the length over which an average assay would be calculated.

• In general, for averaging purposes, the minimum drill intercept considered was 3 meters at a 1.0 g/t Au cut-off. In some cases, where immediately adjacent drill hole information indicated continuity, intercepts of less than 3 meters averaging marginally less than 1 g/t Au were used to delineate gold zone boundaries, (e.g. 0.94 g/t Au).

• Zones of internal waste consisting of 5 or more consecutive one meter sample intervals, each assaying less than 1.0 g/t Au, were not included in reserve blocks.

• All mineralized intercepts, including those encountered in north-south and off-sectional drilling (the latter included JNUG 84-29 to 84-30 and 88-118) were accounted for on east-west mineral reserve ("Mineral Resource") block sections. This was done by projecting the midpoint of the mineralized intercept to the appropriate section. In some cases, in order to preserve geological integrity intercept midpoints were projected to certain sections even though their location may have been up to as much as 5 meters beyond the "window of influence" for that section.

• Reserve ("Mineral Resource") blocks containing more than one assay intercept, projected or otherwise, were assigned a grade equal to the weighted average of all included intercepts.

• Probable resource blocks were established by projecting block boundaries a distance of 15 meters away from the mid- point of the drill intercept. Direction of projection was parallel to the inferred contacts of the interpreted mineralized zones.

• Possible resource blocks were established by projecting block boundaries an additional 30 meters beyond the outer limit of probable block boundaries. The grade assigned was the same as that of the adjacent probable block.

• Where adjacent sectional information indicated the likelihood that a given mineralized zone would extend to the margins of the stock, possible resource blocks, (with no assigned grade) were established beyond the limits of those defined under paragraph 3. Similarly, where adjacent sectional information demonstrated continuity of a gold zone into an area with no drill hole information, a possible resource block (again with no assigned grade) was established.

• The bisectrix of the angle between adjacent drill holes on the same section formed resource block boundaries.

• The length of sectional projection was one-half the distance between adjacent sections, except for the southern and northernmost sections (9450 N and 9575 N respectively), the distance of projection was limited by the margin of the stock.

• Xenoliths were assigned as waste unless indicated otherwise by drilling.

• Since there was no east-west sectional information to the north of 9500 N, it was necessary to construct projected mineral reserve ("Mineral Resource") block sections based on north-south and off sectional drill hole information. The method of projection of assay intercept midpoints was as in that described in point 5.

Jenner Zone

A summary of the estimate for the Jenner zone from Norman's 1989 study is shown as follows:

Table 6.3.1: Historical Tonnage and Grade Estimate for the Jenner Zone

Portal Zone

The total amount of drilling to 1989 on the Portal Stock was 6,978 meters (22,895 feet) in 50 drill holes. In 1983, when most of the drilling was done on the Portal Zone, the geometry of the Portal Stock was not well known, and diamond drilling, exploratory in nature, produced a seemingly random drilling pattern. This random aspect created numerous interpretational problems on cross-sections and level plans through the stock. Additional diamond drilling by Bema during the fall of 1988 concentrated on the eastern portion of the stock (east of 11040 E) which had produced the best gold mineralization intercepts to date.

According to Norman, (1989), geological level plans and surface mapping showed that the stock could be divided into two distinct geological domains. The western portion of the stock is roughly circular, with an average diameter of 140 meters and fairly smooth or regular contacts. The eastern portion of the Portal Stock is dyke-like, narrowing from approximately 100 meters in the west to 40 to 50 meters near the eastern contact, and has irregular contacts. East - west oriented vertical geological sections constructed by Bema geological personnel suggest the entire stock is plunging approximately 70° to the east.

Similar Probable and Possible categories were calculated, as for the Jenner Zone, with "probable reserves" defined by projection of a known drill intercept up to 15 meters outward and "possible reserves" defined by projection of the probable block boundaries an additional 30 meters. The resource parameters were identical to those used in the Jenner study.

Table 1.3.2: Historical Resources Estimate at Portal Stock

* rounded from Norman's original numbers

Table 6.3.3: Combined Jenner and Portal Zone Historical Resources Estimates

All the Norman resource estimates are uncut and undiluted, with a 1.0 g/t gold cut-off used for the Jenner Zone. A cut-off grade of 2.0 g/t gold was used for the Portal Zone. The conversion from grams to ounces is at 31.119 grams per ounce. Stated ounces are in-situ and would be diminished on production by a number of recovery factors which cannot be calculated at this time.

This historical estimate is relevant to the Harrison Gold Property as it suggests there may be mineralization present. However, this estimate does not use the resource categories as defined by CIM and the differences to the CIM categories are not known. The qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. The Company is not treating the historical estimates as a current mineral resource.

In 1987, N.C. Croome, P.Eng. of L.J. Manning and Associates completed an engineering study of the mining potential of the Jenner Zone at the Harrison Gold property, in consultation with G. Hawthorne, P.Eng., Mineral Processing Engineer.

During the early 2000's well known geologists including Jean Pautier, Charles Downie and, Barry Price recognized that the style of mineralization is similar to the gold deposits of the Tintina Gold Belt that straddles the Yukon - Alaska border and also recognized that the mineralized diorite intrusions are localized along a regionally extensive shear zone adjacent to a large diorite batholith. Snowline Gold's recent discovery of the Valley deposit, clearly demonstrates the potential of these types of occurrences.

In 2011 the current operator staked the ground to the south of the Omineca claims and optioned the former Bema Property to cover the entire 7-kilometer strike length of the Harrison Lake Shear Zone that is adjacent to the Hicks Batholith. Soil geochemical surveys completed between 2012 and 2018 confirmed the presence of significant, untested "gold in soil" anomalies within the Omineca claims and identified multiple additional "gold in soil" anomalies along the entire seven-kilometer strike length of the Harrison Lake Shear Zone. In addition to expanding the Property, the current operator has updated the project database to modern standards, rehabilitated the underground workings, identified multiple low impact development options and obtained permitting for underground sampling and drilling.

It is also important to note that the historic drilling also intersected significant, high grade gold mineralization within the Jenner and Portal Zones including DDH 88-76 which intersected 7.0 meters averaging 21.4 g/t and DDH 88-121 which intersected 9.0 meters averaging 13.5 g/t. (Note: the intercept in DDH 88-121 is more than 50 meters vertically below the historic resource estimate and requires additional drilling).

Additional targeted drilling is expected to verify the historic results and potentially identify multiple additional gold mineralized zones. The property has easy access to the Trans-Canada Highway, related Hydroelectric power and rail service and infrastructure, and has a close proximity to several communities, including Chilliwack, British Columbia. Exploration drilling and underground sampling activities for the Bear Mountain Project are fully permitted for 2026-27.

The mineralized diorite stocks that have been identified on the Harrison Gold property are assumed to be genetically related to the 25 km² Hicks Lake Batholith (dated at 24.5 Ma). BC Government maps show that the western contact of the Hicks Lake Batholith is roughly parallel to the Hicks Lake Structural Zone (HLSZ) and approximately one kilometer to the east. The segment of the HLSZ that extends through Bear Mountain is 7 kilometers long and up to 2 km wide. It has been confirmed in multiple historic technical reports that follow up drilling of "gold in soil anomalies" resulted in the discovery of several mineralized zones. The apparent structural controls on the emplacement of diorite intrusions within Bear Mountain appear to have created an NNW-SSE trending corridor of prospective diorite and quartz diorite intrusions.

HARRISON LAKE GOLD DISTRICT SCALE GOLD PROJECT- GOLD AND EXPLORATION HIGHLIGHTS

The Harrison Lake Gold Project contains a 7-kilometre-long ridge with diorite/ quartz bearing extensive intrusive related gold mineralization, situated near Harrison Lake, British Columbia. Historical drilling results confirm the presence of significant high-grade gold mineralization.

• Drilling Permits have been approved and granted by the Province of British Columbia for 2026-2027

Commented President & CEO Tim Coupland, "We are acquiring the Harrison Lake Gold project with over $10.0 million dollars in prior drilling and exploration expenditures, and a 220,000 oz. historic gold resource, that is fully permitted for diamond drilling, in a precious metals super-cycle where gold has now exceeded $5,000 oz. for the first time in history. We are utilizing the gold experience of our newly appointed Exploration Manager, Mr. Magrum P. Eng, a seasoned exploration professional proficient in targeted gold exploration drilling, with the expectation of drilling and delivering another gold producer added to his list of achievements to the Canadian mining markets. Mr. Magrum is joining our company at a time when we are entering a long -term precious metals Super-cycle especially when gold and silver prices are substantially above historical norms driven by powerful, structural economic forces."

Michael Magrum P. Eng. is the Company's Exploration Manager and as its key technical advisor (as a Qualified Person under National Instrument NI #43-101). Mr. Magrum will be responsible for overseeing the technical management of all Trans Canada Gold's mineral properties, and will be carrying out all requisite oversight for all new gold exploration drilling. Mr. Magrum is a seasoned geological engineer, who is recognized as professional. He prefers aggressive targeted drilling programs that have the potential to deliver gold deposits. Mr. Magrum has over 40 years of gold exploration and drilling experience, and has worked extensively in gold and mineral exploration and mining since 1971, starting his career in the Yellowknife Gold Mining Camp.

Mr. Magrum is a graduate of the Haileybury School of Mines, and a graduate of the University of Alaska and has worked extensively in Canadian and international gold exploration. His worldwide experience in identifying gold exploration and mining opportunities, has exposed him to most gold and silver deposit types. He was a former director of Seabridge Gold Inc., which acquired a gold property portfolio containing significant gold resources. He is presently a director of Rochester Resources Ltd., a silver/gold producer currently operating in Mexico. Mr. Magrum has also served as a director of the Prospector and Developers Association of Canada, and also a former President of the Northwest Territories Chamber of Mines, a Mining Industry Association and lobby group.

The Company has completed its rigorous due diligence, claim verifications, drill permit confirmations, required due diligence, with gold property owners and vendors, as required in making a strategic gold property acquisition with a historical gold resource. The Company intends to utilize its experienced gold mineral exploration team, to drill, expand and advance the large-scale gold property and capitalize on the current prevailing gold price and soaring precious metal market conditions.

Michael Magrum, P. Eng, exploration manager for the Company and a qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information used in this news release.

Further to its news release dated January 20, 2026, the Company wishes to clarify that it has appointed Michael Magrum as its Exploration Manager and not as its Vice-President of Mining.

$1.5 Million Dollar Non-Brokered Private Placement

The Company also announces a non-brokered private placement financing of 10,000,000 units (the "Units") at a price of CDN $0.15 per Unit to raise gross proceeds of up to CDN $1,500,000 (the "Offering"). Each Unit will consist of one (1) common share and one (1) common share purchase warrant, each warrant is exercisable at a price of $0.30 per share for a period of three (3) years from the date of issuance. The Offering is subject to approval from the TSX Venture Exchange and all of the securities issued pursuant to the Offering will be subject to a four month hold period from the date of issue in accordance with applicable securities laws.

The Company has agreed to pay a finders' fee to arm's length parties for services rendered in respect of the Offering. The finder's fee will consist of a cash fee equal to 6% of the gross proceeds of the Offering and finder's warrants equal in number to 6% of the units sold under the Offering. Each finder's warrant will entitle the holder to acquire one common share of the Company at a price of $0.30 per share for a period of three (3) years from the date of issuance.

The Company intends to use the proceeds of the Offering for due diligence and other costs related to the acquisition of the Property ($50,000), initial acquisition costs payable to BMGM under the Option Agreement ($50,000), year 1 exploration expenditures on the Property ($600,000), a reserve for year 2 exploration and acquisition costs for the Property ($600,000) and general working capital ($200,000)..

Year 1 expenditures on the Property are budgeted as follows: upgrading core logging facility ($25,000), completing required underground rehab and drill site prep ($100,000), completing minimum 1,000 meters of underground drilling ($150,000), ATV trail and drill road upgrades ($50,000), completing minimum 500 meters Hill Zone and Portal Zone ($75,000), equipment rentals and consumables ($50,000), drill program supervision, assaying and reporting ($50,000), contingency ($100,000).

In addition to other prospectus exemptions commonly relied on in private placements, the Offering will be available to existing shareholders of the Company who, as of the close of business on February 2^nd , 2026, held common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the prospectus exemption set out in BC Instrument 45-534 - Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders and in similar instruments in other jurisdictions in Canada (the "Existing Shareholder Exemption"). The Existing Shareholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Shareholder Exemption exceeding the maximum Offering, the Company may adjust the subscriptions received on a pro-rata basis.

The Company will also make the Offering available to certain subscribers pursuant to BC Instrument 45-536 - Exemption from Prospectus Requirement for Certain Distributions Through an Investment Dealer (the "Investment Dealer Exemption"). In accordance with the requirements of the Investment Dealer Exemption, the Company confirms that there is no material fact or material change about the Company that has not been generally disclosed.

ABOUT TRANS CANADA GOLD CORP. - GOLD & MINERAL EXPLORATION/OIL AND GAS PRODUCTION/REVENUE PRODUCING OIL WELLS

The Company is a Canadian discovery focused Gold Exploration company focused on acquiring and drilling advanced gold, silver and critical base metal mineral assets situated in Canada. The Company identifies, acquires and finances with its working interest partners, and Oil & Gas Resource Development Exploration Company that is currently focused on developing and drilling its' production of conventional heavy oil exploration properties, increasing production capabilities, and increasing future oil production revenues through responsible exploration. The Company identifies, acquires and finances with its working interest partners, the ongoing development of oil and gas assets, primarily situated in Alberta Canada. The Company has qualified Senior exploration mining management and oil & gas Geological teams of professionals, seasoned in exploration production, field exploration and drilling. The Company currently works with Croverro Energy Ltd., who has demonstrated proficiency, expected of an experienced oil and gas technical team that has proven oil production, and revenue success with large multi-lateral wells currently under their supervision. The Company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The Company is committed to minimizing risk through selective property acquisitions, and responsible exploration drilling, and maximizing long term gold and strategic mineral and petroleum and natural gas resource assets.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Tim Coupland, President and CEO
Trans Canada Gold Corp.
Tel: (604) 681-3131
[email protected]
www.transcanadagold.com

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

SOURCE: Trans Canada Gold Corp.

View the original press release on ACCESS Newswire

K.Morrison--SMC