TAG Oil Announces Director Resignation

VANCOUVER, Jan. 7, 2025 - TAG Oil Ltd. (TSXV: TAO) (OTCQX: TAOIF) (FSE: T0P) ("TAG Oil" or the "Company") announces today that Mr. Toby Pierce has resigned as a director of the Company, effective January 6, 2025, and Mr. Pierce will also resign as a director of its subsidiaries in a timely manner, to focus on his other professional commitments. Mr. Pierce has been a director of the Company since June 1, 2015.

Abby Badwi, TAG's Executive Chairman and CEO, stated, "We would like to thank Toby for his valuable contributions as a director of TAG Oil throughout his tenure. On behalf of the Board of Directors and management, I wish him all the best with his future activities and look forward to his continued support as a shareholder of the Company."

The Company also proposes to issue to Mr. Pierce, as part of his employment severance package, $200,000 in common shares of the Company at a price of $0.16 per common share as a one-time severance payment, which is subject to the approval of the TSX Venture Exchange.

About TAG Oil Ltd.

TAG Oil (http://www.tagoil.com/) is a Canadian based international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa.

Website: http://www.tagoil.com/
LinkedIn: https://www.linkedin.com/company/tag-oil-ltd
X: https://twitter.com/tagoilltd

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

Forward-Looking Statements

This release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to a one-time severance payment for Mr. Pierce.

TAG Oil provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

SOURCE TAG Oil Ltd.