Tiernan Announces Results from Volcan Project Core Relogging Program, Advancing Geological Understanding and De-Risking Strategy

Vancouver, British Columbia–(Newsfile Corp. – April 29, 2026) – Tiernan Gold Corp. (TSXV: TNGD) (“Tiernan” or the “Company”) announces the results of a comprehensive core relogging and geological modelling program at its Dorado West deposit, part of the Company’s Volcan Project located in the Maricunga Gold Belt, Atacama Region, Chile.

The program, completed between December 2025 and February 2026 by Motherlode Consulting Inc., represents a significant step in refining the geological framework of the Dorado West deposit and supports Tiernan’s ongoing objective of advancing the project engineering and environmental permitting milestones. The Dorado West deposit hosts approximately 94% of the 463 million tonnes of Measured and Indicated Resources containing 9.2 million ounces of gold^[1].

Highlights of the Relogging Program

• 15,077 metres of core relogged across 27 drillholes, representing approximately 30% of historical diamond drilling
• 6,353 hyperspectral (“Terraspec”) measurements collected to enhance hydrothermal alteration characterization
• 11,598 high-resolution core photographs acquired to support digital geological analysis and future potential machine-learning applications
• Development of new lithological, structural, and alteration domains to support a geologically constrained mineral resource estimate (“MRE”)

“The Dorado West relogging program represents a fundamental step forward in our understanding of this deposit. By relogging nearly 30% of historical drilling and integrating hyperspectral analysis with structural interpretation, we’ve confirmed that gold mineralization is primarily controlled by veining and alteration intensity – not lithology – which significantly improves our geological model,” said Fausto Di Trapani, President and CEO, “Banded stockwork zones averaging 0.80 g/t gold stand out as the primary hosts of gold mineralization, and this new structural framework gives us a more robust basis for the upcoming mineral resource estimate and prefeasibility study.”

Key Geological Findings

The relogging program has resulted in a simplified and improved geological interpretation of the Dorado West deposit:

• Identification of four principal lithological domains: volcanic lava flows, dacitic porphyry, and monomictic and polymictic breccias
• Confirmation that breccia units with veining and stockwork are the primary host of gold mineralization

Importantly, the analysis indicates that gold mineralization is not strongly controlled by lithology, but rather by veining, alteration and structural controls.

Strong Correlation Between Gold and Alteration & Veining

Exploratory data analysis of relogged intervals highlights key controls on mineralization:

• Silicification and white mica alteration show the strongest correlation to gold grades
• Veining intensity is the primary indicator of gold mineralization, with banded stockwork zones averaging up to 0.80 g/t Au, the highest among all identified domains
• Banded veins and banded stockwork demonstrate strong associations with higher-grade gold mineralization
• New structural interpretation identified NE and NW trending corridors as principal controls, with nine major structures acting as boundaries to high-grade gold zones (>1 g/t Au)

Enhanced Geological Modelling

The program enabled the construction of updated geological domains emphasizing spatial continuity and structural coherence:

• New lithological, stockwork, and alteration domains developed using 3m composites
• Integration of hyperspectral data allowed for refined alteration domain modelling
• Structural interpretation incorporated geophysical data, drilling, and surface mapping

These updated domains are expected to provide a more robust framework for future mineral resource estimation and mine planning studies.

Strategic Implications

The relogging program significantly advances Tiernan’s de-risking strategy by:

• Improving confidence in the geological model
• Providing a stronger basis for a geologically constrained MRE
• Supporting future metallurgical testing and geometallurgical modelling
• Establishing a high-quality dataset for advanced digital-driven analysis

Next Steps

Tiernan plans to:

• Integrate new domains into the existing block model for grade-tonnage evaluation
• Assess opportunities to incorporate legacy data to further enhance domain continuity
• Evaluate digital-driven analysis to extract additional value from the newly acquired high-resolution core photos
• Continue advancing technical studies in support of the upcoming prefeasibility study

Qualified Person (QP) Statement
The scientific and technical data contained in this news release was prepared and reviewed by M. Antonio Celis C., P.Geo under Engineers & Geoscientists of British Columbia (EGBC), an independent qualified person to Tiernan Gold Corp., who is responsible for ensuring that the information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Tiernan Gold Corp.
Tiernan Gold Corp. is focused on the disciplined de-risking of the Volcan Gold Project strategically located in the Atacama Region of Chile, on the Maricunga gold belt, a jurisdiction that has a long-established history of mining with a number of operating mines, new mines under construction and major projects being developed.

Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (together, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical facts, are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “planning”, “expects”, “is expected”, “continues”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “potential”, “intends”, “targets”, “aims”, “seeks”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are subject to various known and unknown risks, future events, conditions, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from any future results, predictions, projections, forecasts, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the timing, scope, design and results of the environmental impact study, engineering studies and permitting processes in connection with advancement of the Project.

Forward-looking statements are based on several material expectations and assumptions made by the Company’s management, including but not limited to: the potential of the Project and the Company’s plans regarding the anticipated exploration and advancement of the Project; the ability of exploration activities (including drilling) to accurately predict mineralization and the success of such exploration activities and results; estimates of reserves and resources; anticipated costs (including future mining and production rates) and estimates of capital and operating costs and other economics associated with the Project; expectations concerning future metals prices and the demand, stability and market outlook for metals, exchange rates, interest rates, tax laws and applicable royalty rates (if any); capital efficiencies; the legislative and regulatory environment of Chile; expectations regarding the availability of debt financing and the Company’s ability to access capital on satisfactory terms; the Company’s current and future financial condition; anticipated timing, sufficiency and results of capital expenditures; the potential for future metals production; and any other statements other than statements of historical facts.

Forward-looking statements are based on a number of assumptions and subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, the factors discussed under the heading “Risk Factors” in the Company’s filing statement dated December 8, 2025 filed under its issuer profile on SEDAR+ at www.sedarplus.ca.

There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except and as to the extent required by applicable securities laws.

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

^[1] As reported in the amended and restated technical report titled “Volcan Project – NI 43-101 Technical Report and Preliminary Economic Assessment – Tierra Amarilla, Atacama Region, Chile” under Tiernan Gold Corp. formerly Railtown Capital Corp.’s SEDAR+ profile. The Mineral Resources disclosed in this Preliminary Economic Assessment are not Mineral Reserves and do not have demonstrated economic viability

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