Company Announcements

VANCOUVER, BC , May 20, 2026 /CNW/ - Tiernan Gold Corp.(TSXV : TNGD) ("Tiernan" or the "Company"), announces the grant of an aggregate of 13,981 stock options ("Options"), 156,290 restricted share units ("RSUs") and 12,581 performance share units ("PSUs") to an eligible participant, pursuant to the Company's Omnibus Equity Incentive Plan (the "Plan") adopted on October 16, 2025. The Plan provides that the maximum number of common shares issuable under the Plan, together with all other security-based compensation arrangements of the Company, shall not exceed 10% of the issued and outstanding common shares of the Company at the time of any award grant.

Options

The Company has granted an aggregate of 13,981 Options to an eligible participant.  Each Option entitles the holder to purchase one common share of the Company at an exercise price of $8.69 per share. The Options expire five years from the date of grant and vest in three equal annual installments, with one-third vesting on each of the first, second and third anniversaries of the date of grant.

Restricted Share Units

The Company has granted an aggregate of 156,290 RSUs to an eligible participant.  Each RSU entitles the holder to receive one common share of the Company, a cash payment equal to the value of one common share of the Company, a combination thereof, or otherwise as determined at the sole discretion of the board of directors of the Company. The RSUs expire five years from the date of grant and vest in three equal annual installments on the first, second and third anniversaries of the date of grant.

Performance Share Units

The Company has granted an aggregate of 12,581 PSUs to an eligible participant.  Each PSU entitles the holder to receive one common share of the Company, a cash payment equal to the value of one common share of the Company, a combination thereof, or otherwise as determined at the sole discretion of the board of directors of the Company, subject to the achievement of applicable performance criteria during the performance period and corresponding vesting conditions. The PSUs are subject to a three-year performance period. The PSUs expire on April 8, 2031.

The Company's grants of Options, RSUs, DSUs and PSUs are in addition to cash compensation fees payable to its officers, employees and non-executive directors.

On behalf of Tiernan Gold Corp.
Fausto Di Trapani, CEO and Director

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.

 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.

SOURCE Tiernan Gold Corp.