TNR Gold Would Rather Cancel Meeting Than Face Shareholders

• Shareholders sent a clear message demanding change, with over 46% of shares supporting each of the Eucalyptus Nominees
• TNR's purported Meeting cancellation is a desperate effort to maintain control, contrary to the will of its Shareholders
• Eucalyptus Resources will seek a Court order preserving the votes of Shareholders
• The British Columbia Securities Commission has been notified of TNR's purported cancellation and Scare Letters sent by TNR to its own Shareholders in advance of the purported cancellation

Eucalyptus Resources Opportunities Fund 1, LP ("Eucalyptus Resources") which, together with its joint actors, Jon Christian Evensen ("JC Evensen") and Alicia Cauteruccio Evensen (together, the "Nominating Shareholders"), is the largest shareholder of TNR Gold Corp. (TSXV: TNR,OTC:TRRXF)  ("TNR" or the "Company"), today confirms that it sent proxies and other voting instructions to the Company's transfer agent and scrutineer, Computershare Trust Company of Canada, representing over 46% of the eligible votes of shareholders of the Company ("Shareholders").

However, TNR proceeded to issue a press release purporting to cancel the annual general and special meeting originally scheduled for September 22, 2026 (the "Meeting"), requiring Eucalyptus Resources to now seek expedited relief from the British Columbia Supreme Court to, among other things, ensure that the record date for the Meeting is preserved and that the votes of Shareholders collected for the Meeting are respected and recognized by the Company.  

"With this pitiful attempt to cancel the Meeting, the board has made it even clearer that they do not care about Shareholders or their rights. All they care about is staying in charge. The Company is now flailing rather than facing its own Shareholders," said JC Evensen, President of Eucalyptus Resources. "We have said from the start of this campaign that Kirill Klip cares only for himself, with no regard for Shareholders. Sadly, he has proven us right."

Eucalyptus Alerts British Columbia Securities Commission Regarding Scare Letters

Eucalyptus Resources has also been made aware by several shareholders of TNR that, prior to the purported cancellation, they received aggressive and threatening letters (the "Scare Letters") from TNR's legal advisors. The Scare Letters make absurd allegations of joint action in an apparent attempt to bully shareholders and confect a "conspiracy" regarding the alleged joint action apparently based on voicing support for Eucalyptus Resources' campaign on social media. Of course, supporting one side in a proxy contest does not render a Shareholder a joint actor.

Before the purported cancellation of the Meeting today, Eucalyptus Resources had advised the British Columbia Securities Commission of TNR's Scare Letters and of the associated TNR Gold press release making allegations of "conspiracy" and a purported "investigation".

"Instead of answering for a track record so poor that the share price only began to move once Eucalyptus Resources publicly called for new leadership in June 2025, the board — supposedly stewards of this Company — used the pretext of their own Scare Letters to cancel the Meeting and hide from overwhelming shareholder support for our nominees on the GREEN proxy," said JC Evensen, President of Eucalyptus Resources.

We urge Shareholders contacted by TNR or its legal advisors who have questions arising from any correspondence or Scare Letters received to contact Laurel Hill Advisory Group by calling 1-877-452-7184 (416-304-0211 out-side North America), by texting "INFO" to either number, or by emailing assistance@laurelhill.com.

Shareholders can find more information about Eucalyptus Resources' campaign at http://ABetterTNR.com.

About Eucalyptus Resources

Eucalyptus Resources LLC was founded in 2022 by Jon Christian "JC" Evensen and provides advisory services to both global investors and corporate clients in the natural resources industry as well as invests principal capital in the sector.

Advisors

Eucalyptus Resources has retained Farris LLP as its legal counsel and Laurel Hill Advisory Group as its strategic shareholder communications advisor.

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SOURCE Eucalyptus Resources Opportunities Fund 1, LP