• Sandra Bates, Michael Horner, Dusan Petkovic, and Jon Christian ("JC") Evensen are nominated to significantly upgrade the board
• Each nominee brings a high degree of professionalism, track record of industry success, and key skillsets needed to bring TNR Gold forward, in contrast to the incumbent board
• Eucalyptus will disseminate proxy materials to TNR shareholders in due course

NEW YORK, Aug. 14, 2026 /PRNewswire/ -- Eucalyptus Resources Opportunities Fund 1, LP ("Eucalytpus"), together with its joint actors, the largest shareholder of TNR Gold Corp. (TSX-V: TNR)  ("TNR Gold" or the "Company"), announces that it has made a submission (the "Notice of Nominations") nominating four highly qualified director nominees in accordance with the Company's advance notice policy for election at TNR Gold's upcoming annual general and special meeting of shareholders (the "Meeting") scheduled for September 22, 2026.

In conjunction with the nominations, Eucalyptus requested it be provided with notification of any deficiencies in the nominations prior to 5 p.m. (Pacific time) on August 12, 2026 in order to remedy them expeditiously. Having received no such correspondence, Eucalyptus is left to infer in good faith that the nominations are in good order and therefore have been accepted.

The nomination of these candidates is the first step towards professionalizing the board with nominees aligned with shareholders and with the experience and skillsets needed to steward the Company in its critical next phase. The nominees are: Sandra Bates, Dusan Petkovic, Michael Horner, and Jon Christian ("JC") Evensen, with profiles detailing their extensive experience below:

Sandra Bates most recently was Executive Director of Predictive Discovery until its merger with Robex Resources closed in April 2026. In addition, Sandra previously served as General Counsel of Elemental Altus Royalties and Non-Executive Director of Adriatic Metals until its takeover by DPM Metals. Sandra is a trained lawyer who brings immense legal and business experience both in the royalties space and across multiple global mining jurisdictions.

Dusan Petkovic was a Principal, Private Debt at Sprott Resources Lending before co-founding G Mining Ventures. While at G Mining, Dusan financed the construction of the Tocantinzinho Project in Brazil and the acquisition of Reunion Gold, who owned the Oko West Project in Guyana.

Michael Horner mostly recently was the Chief Financial Officer of Adriatic Metals until its sale to DPM Metals in 2025. He joined Adriatic Metals as VP, Corporate Development before being promoted to CFO. Prior to his role at Adriatic he was the VP, Corporate Development at Silvercorp, a TSX-listed silver miner.

JC Evensen is currently the President of Eucalyptus Resources, an investing and advisory firm he founded in 2022 after several years working in capital markets in New York focused on metals & mining. He served on the board of PMET Resources (then named Patriot Battery Metals) from April 2022 until January 2023, during which time the share price appreciated by over 700%. Mr. Evensen is currently a director of both Pallas Resources, a private mineral explorer focused on Kazakhstan, and REEcycle, a private rare earth magnet recycling company that has agreed to go public on the Nasdaq in New York via merger with a special purpose acquisition vehicle.

A copy of the Notice of Nomination will be available under TNR Gold's profile at www.sedarplus.ca.

TNR Gold's Annual General and Special Meeting

Eucalyptus notes shareholders should be aware TNR Gold management filed the Notice of the Meeting and Record Date on SEDAR+ at 6:24 p.m. Eastern Time on August 11, 2026, with a Record Date of August 12, 2026, in an apparent effort to limit the notice period before the record date. This is a highly unusual entrenchment tactic; for TNR Gold's past three annual meetings, it has filed the notice 21 days, 25 days, and 25 days before the record date, respectively.

Eucalyptus intends to mail meeting materials to shareholders of TNR Gold and solicit proxies for the Meeting in due course.

About Eucalyptus Resources

Eucalyptus Resources 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