Yangarra Resources Ltd. Announces Expanded 2026 Capital Program and Increased Credit Facility

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CALGARY, Alberta, June 02, 2026 (GLOBE NEWSWIRE) — Yangarra Resources Ltd. (TSX:YGR) (“Yangarra” or the “Company”) today announced a meaningful expansion of its 2026 capital program and an increase to its syndicated credit facility, reflecting strong early performance from its redesigned Belly River development program and positioning the Company for enhanced oil weighting on production, stronger cash flow generation, and sustained value creation.

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Operations Update

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Yangarra continues to increase its strategic focus on the Belly River play and has added a second drilling rig to accelerate development activity, as a result the Company expects to bring on eight new wells, including six Belly River wells, by July.

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The Company’s redesigned Belly River drilling and completion approach has delivered encouraging early results, with initial production rates exceeding previously disclosed type curves. While production history remains limited, this early outperformance has supported Yangarra’s decision to apply the revised design to five of its next six Belly River wells.

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Capital Budget Update

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Reflecting improved Belly River well performance, Yangarra is increasing its 2026 capital budget by 33% to $80 million, enabling the drilling of a total of 25 wells during the year with a continued emphasis on Belly River development. The increased capital program and greater weighting toward Belly River drilling are expected to enhance the oil weighting of the Company’s production mix and support stronger cash flow generation.

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To date, Yangarra has drilled 11 wells and brought five wells on-stream. With the expanded capital program and the balance of the year ahead, the Company expects to bring a total of 20 wells on-stream over the remainder of 2026.

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Credit Facility Update

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Yangarra has completed its borrowing base review, resulting in an increase to its syndicated senior credit facility to $160 million with its existing syndicate of banks. The term-out date has been extended to May 31, 2027, and the maturity date to May 31, 2028. The expanded facility enhances liquidity and provides additional financial flexibility while supporting the disciplined execution of the Company’s development plans.

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For further information, please contact Jim Evaskevich, CEO 403-262-9558.

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Forward-Looking Information

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This press release contains forward-looking statements and forward-looking information (collectively “forward-looking information”) within the meaning of applicable securities laws relating to the Company’s plans and other aspects of our anticipated future operations, management focus, strategies, financial, operating and production results and business opportunities. Forward-looking information typically uses words such as “anticipate”, “believe”, “continue”, “sustain”, “project”, “expect”, “forecast”, “budget”, “goal”, “guidance”, “plan”, “objective”, “strategy”, “target”, “intend” or similar words suggesting future outcomes, statements that actions, events or conditions “may”, “would”, “could” or “will” be taken or occur in the future, including, but not limited to, statements on potential completion techniques being considered. Statements relating to “reserves” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated and that the reserves can be profitably produced in the future.