DISCLAIMERS

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.

This website is made available in connection with a solicitation of proxies by or on behalf of Eucalyptus Resources and not on behalf of management of TNR Gold. Eucalyptus Resources has filed an information circular dated September 1, 2026 (the “Eucalyptus Resources Circular”), which contains certain important prescribed information concerning Eucalyptus Resources and its nominees, as well as information about the background and reasons for the solicitation. The Eucalyptus Resources Circular and GREEN form of proxy are available on TNR Gold’s SEDAR+ profile at www.sedarplus.ca. Capitalized terms used in this section without definition have the meanings ascribed thereto in the Eucalyptus Resources Circular.

Eucalyptus Resources has retained Laurel Hill as its strategic shareholder communications advisor and proxy solicitation agent. Laurel Hill’s responsibilities will principally include, where applicable, soliciting proxies on behalf of Eucalyptus Resources, liaising with proxy advisory firms, developing and implementing shareholder communication and engagement strategies and advising with respect to meeting and proxy protocols. Pursuant to the terms of their engagement, Laurel Hill will receive a fee of up to $270,000, plus disbursements. All costs incurred for any solicitation will be borne directly by Eucalyptus Resources. Notwithstanding the foregoing, and to the extent legally permissible, Eucalyptus Resources may seek reimbursement from TNR Gold for the expenses it incurs in connection with this solicitation, including proxy solicitation expenses and legal fees, in connection with a successful reconstitution of the Board. Eucalyptus Resources does not intend to submit the question of such reimbursement to a vote of security holders of the TNR Gold. Eucalyptus Resources notes that it expects that any such expenses will be substantially less than the expenses that management of TNR Gold has forced TNR Gold to incur to defend management from an unnecessary and otherwise avoidable proxy contest.

Proxies may be solicited by mail, telephone, email, internet, in person, by advertisements and by any other manner permitted by law. No person is authorized to give information or to make any representations by or on behalf of Eucalyptus Resources other than those contained in Eucalyptus Resources Circular and, if given or made, such information or representation must not be relied upon as having been authorized by Eucalyptus Resources to be given or made.

Except as otherwise disclosed in the Eucalyptus Resources Circular, neither Eucalyptus Resources nor, to its knowledge, any of its nominees, nor any of their respective associates or affiliates, has any material interest, direct or indirect, in any transaction since the commencement of TNR Gold’s most recently completed financial year, or in any proposed transaction which has materially affected or will materially affect TNR Gold or any of its subsidiaries. Neither Eucalyptus Resources nor, to its knowledge, any of its nominees, nor any of their respective associates or affiliates, has any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter to be acted upon at the Meeting, other than as set out in the Eucalyptus Resources Circular.

Information disclosed in or accessible through this website may contain forward-looking information. All statements and information, other than statements of historical fact, disclosed in or accessible through this website contain forward-looking information. Statements containing forward-looking information can be identified by the use of forward-looking words such as “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe” or “continue” or similar words and expressions or negative variations thereof. Statements containing forward-looking information in this news release include statements regarding activities, events or developments that Eucalyptus Resources expects or anticipates may occur in the future, expectations regarding the Meeting, and what Eucalyptus Resources expects its nominees will do if elected to the Board. Although Eucalyptus Resources believes that the expectations reflected in statements containing forward-looking information made by Eucalyptus Resources in the information disclosed in or accessible through this website to be reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements.

Material factors or assumptions that were applied in formulating the forward-looking information contained herein include the assumption that the business and economic conditions affecting the TNR Gold’s operations will continue substantially in the current state, including without limitation with respect to industry conditions, general levels of economic activity, availability of personnel, local and international laws and regulations, foreign currency exchange rates and interest rates, inflation, taxes that there will be no unplanned material changes to the TNR Gold’s operations, and that TNR Gold’s public disclosure record is accurate in all material respects and is not misleading (including by omission). Eucalyptus Resources cautions that the foregoing list of material facts and assumptions is not exhaustive.

Many of these assumptions are based on factors and events that are not within the control of Eucalyptus Resources and there is no assurance that they will prove to be correct. Accordingly, there can be no assurance that the plans, intentions or expectations upon which statements containing forward-looking information are based will occur or, even if they do occur, will result in the plans, results or performance expected. We caution readers of this website not to place undue reliance on forward-looking information disclosed in or accessible through this website, which are not a guarantee of performance, events or results and are subject to a number of risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those expressed or implied by such forward-looking information. These factors include, among other things, actions taken by TNR Gold in connection with or in advance of the Meeting, risks under material contracts of TNR Gold, the outcome of any proceedings that may be commenced in connection with the Meeting, the content of subsequent public disclosures by TNR Gold, general economic conditions, legislative or regulatory changes, changes in capital or securities markets, and those risks and uncertainties detailed in the continuous disclosure and other filings of TNR Gold with applicable Canadian securities regulators. These are not necessarily all of the important factors that could cause actual results to differ materially from those expressed or implied in any of Eucalyptus Resources’ forward-looking information. Other unknown and unpredictable factors could also impact outcomes. Statements containing forward-looking information in this website are based on Eucalyptus Resources’ beliefs and opinions at the time the statements are made, and there should be no expectation that such forward-looking information will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Eucalyptus Resources disclaims any obligation to do so, except as required by applicable law.