TNR Gold Corp. has urged its shareholders to reject a green proxy put forward by dissident shareholder Eucalyptus Resources Opportunities Fund 1, LP ahead of the company’s upcoming Annual General and Special Meeting scheduled for September 22, 2026.

The company advised investors to vote exclusively for the incumbent board's nominees using the blue proxy, characterising the dissident's platform as lacking a credible plan for corporate development.

The upcoming vote arrives as TNR Gold maintains its core business model focused on generating and holding royalties across green energy metals and gold assets. The company holds a 1.5% net smelter return royalty on the Mariana Lithium Project in Argentina, which is operated by Ganfeng Lithium and features an officially inaugurated 20,000 tons-per-annum lithium chloride plant.

Additional royalty interests include a 0.4% net smelter return royalty on the Los Azules Copper Project in Argentina, developed by McEwen Inc., and a 7% net profit royalty on the Batidero I and II properties of the Josemaria Project, which is being advanced by a joint venture between Lundin Mining and BHP. The company's portfolio also encompasses a 90% holding in the Shotgun Gold porphyry project in Alaska.

In the wider surrounding district, corporate activity has continued as Lithium Chile Inc. and China Union Holdings Ltd. advanced their proposed US$175 million transaction for the Salar de Arizaro project, setting a revised drop-dead date of August 20, 2026. Within TNR Gold's own capital structure, strategic partner Altius Minerals Corporation holds an equity stake of 30,935,000 common shares following a strategic private placement completed in May 2026.

“TNR Gold's focus remains exactly where it should be: on advancing our strategy, maximizing the value of our royalty portfolio and acting in the best interests of all shareholders,” said Kirill Klip, Executive Chairman and Chief Executive Officer. “We are grateful for the many shareholders who have reached out to us in recent days and look forward to continuing that dialogue. While others may choose to focus on empty rhetoric and personal attacks, we remain focused on strategic execution, experienced stewardship and long-term value creation.”

— Kirill Klip, Executive Chairman and Chief Executive Officer

Shareholders seeking assistance with voting the blue proxy can contact Kingsdale Advisors, which is acting as strategic shareholder advisor to TNR Gold alongside legal counsel Norton Rose Fulbright Canada LLP.

Read the full announcement: TNR Gold Thanks Shareholders for Their Strong Support and Remains Focused on Delivering Long-Term Value