Talon Metals Feasibility Study Drilling Shows Potential Lateral Extension of High-Grade Nickel-Copper Mineralization Beyond the Southernmost Tip of the Tamarack Resource Area

Step-out hole intercepts massive sulphide beyond current resource boundary; BHEM survey identifies possible extension to the east

Tamarack, Minnesota--(Newsfile Corp. - April 23, 2025) - Talon Metals Corp. (TSX: TLO) (OTC Pink: TLOFF) (together with its subsidiaries, "Talon" or the "Company"), the majority owner and operator of the Tamarack Nickel-Copper-Cobalt Project ("Tamarack Nickel Copper Project") in central Minnesota, is pleased to announce the potential extension of its Massive Sulphide Unit ("MSU") beyond the Tamarack Resource Area.

Highlights:

• In the Company's February 3, 2025 press release, Talon explained that, among other things, the Company's feasibility study drilling program aimed to test whether high-grade massive sulphide below the 138 Zone extends beyond drill hole 13TK0171, the last drill hole at the southern tip of the Tamarack Resource Area.

  • Historically, drill hole 13TK0171 intercepted 7.74m of massive sulphide assaying 8.01% Ni, 2.87% Cu, 1.16 ppm Pd+Pt+Au or 9.51% NiEq (see the November 2022 Technical Report for further technical information).

  • The percentage of sulphide content logged over the 7.74m interval was approximately 90%.

• New drill hole 25TK0555 intercepted 1.9 meters of massive sulphide (see Figure 2), logged as approximately 70% sulphide content, approximately 27 meters east of drill hole 13TK0171.

• A strong off-hole Borehole Electromagnetic ("BHEM") conductor points to mineralization extending even further east (see Figure 1).

Figure 1: Plan view map of the southern portion of the Tamarack Resource Area. Talon's feasibility study drilling program intercepted 1.9 meters of massive sulphides (logged as approx. 70% sulphides) 27 meters east of the Tamarack Resource Area.

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Figure 2: Photo of drill core from drill hole 25TK0555 at 581.97 meters depth showing 1.9 meters of massive sulphide.

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• Feasibility study drilling will continue while Talon prepares to mobilize three of its five drill rigs to Michigan where drilling will continue at the Boulderdash target (see the Company's press release from March 5, 2025 for further information).

"As previously reported, Talon extended drill hole 16TK0250 and intercepted 8.25 meters logged as 95% sulphide content 150 meters below and 50 meters south of drill hole 13TK0171. Drill hole 25TK0555 shows that similar massive sulphide mineralization is also open laterally to the east," said Etienne Dinel, Talon's VP of Geology.

"Talon is delivering on the business plan outlined in our February 3, 2025 press release, 'Turning Resources into Results', as the United States moves to further investigate the national security risks of relying on imported critical minerals," said Henri van Rooyen, CEO of Talon. "China and Russia have openly aligned to deepen America's dependence on their nickel supply for both defense and industrial use. Talon is not just another mining project, it's a critical minerals initiative purpose-built to help restore control over U.S. supply chains. Through innovation, we aim to mine and process the world's most responsibly produced nickel right here in the United States."

QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSONS

Please see the technical report entitled "November 2022 National Instrument 43-101 Technical Report of the Tamarack North Project - Tamarack, Minnesota" with an effective date of November 2, 2022 ("November 2022 Technical Report") prepared by independent "Qualified Persons" (as that term is defined in National Instrument 43-101 ("NI 43-101")) Brian Thomas (P. Geo), Roger Jackson (P. Geo), Oliver Peters (P. Eng) and Christine Pint (P.G) for information on the QA/QC, data verification, analytical and testing procedures at the Tamarack Nickel Copper Project. Copies are available on the Company's website (www.talonmetals.com) or on SEDAR at (www.sedar.com). The laboratory used is ALS Minerals who is independent of the Company.

Lengths are drill intersections and not necessarily true widths. True widths cannot be consistently calculated for comparison purposes between holes because of the irregular shapes of the mineralized zones. Drill intersections have been independently selected by Talon. Drill composites have been independently calculated by Talon. The geological interpretations in this news release are solely those of the Company. The locations and distances highlighted on all maps in this news release are approximate.

Dr. Etienne Dinel, Vice President, Geology of Talon, is a Qualified Person within the meaning of NI 43-101. Dr. Dinel is satisfied that the analytical and testing procedures used are standard industry operating procedures and methodologies, and he has reviewed, approved and verified the technical information disclosed in this news release, including sampling, analytical and test data underlying the technical information.

Where used in this news release:

NiEq% = Ni% + Cu% x $3.75/$9.50 x Cu Recovery/Ni Recovery + Co% x $25.00/$9.50 x Co Recovery/Ni Recovery + Pt [g/t]/31.103 x $1,000/$9.50/22.04 x Pt Recovery/Ni Recovery + Pd [g/t]/31.103 x $1,000/$9.50/22.04 x Pd Recovery/Ni Recovery + Au [g/t]/31.103 x $1,400/$9.50/22.04 x Au Recovery/Ni Recovery

For Ni and Cu recoveries, please refer to the formulae in the November 2022 Technical Report. Recovery of Ni to the Cu concentrate was excluded from the NiEq calculation. The following recoveries were used for the other metals: 64.1% for Co, 82.5% for Pt, 69.3% for Pd and 72.6% for Au.

ABOUT TALON

Talon is a TSX-listed base metals company in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota. Talon's shares are also traded in the US over the OTC market under the symbol TLOFF. The Tamarack Nickel Project comprises a large land position (18km of strike length) with additional high-grade intercepts outside the current resource area. Talon has an earn-in right to acquire up to 60% of the Tamarack Nickel Project and currently owns 51%. Talon is focused on (i) expanding and infilling its current high-grade nickel mineralization resource prepared in accordance with NI 43-101 to shape a mine plan for submission to Minnesota regulators, and (ii) following up on additional high-grade nickel mineralization in the Tamarack Intrusive Complex. Talon has a neutrality and workforce development agreement in place with the United Steelworkers union. Talon's Battery Mineral Processing Facility in Mercer County was selected by the US Department of Energy for US$114.8 million funding grant from the Bipartisan Infrastructure Law and the US Department of Defense awarded Talon a grant of US$20.6 million to support and accelerate Talon's exploration efforts in both Minnesota and Michigan. Talon has well-qualified experienced exploration, mine development, external affairs and mine permitting teams.

For additional information on Talon, please visit the Company's website at www.talonmetals.com or contact:

FORWARD-LOOKING STATEMENTS

This news release contains certain "forward-looking statements". All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Such forward-looking statements include statements relating to future exploration work, including future drill results and assays, and the potential expansion of mineralization. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company.

Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Table 1: Collar Location of Drill Hole 25TK0555

Table 2: Quick Lithology Log for Drill Hole 25TK0555

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249417