Mr. Henri van Rooyen reports

TALON METALS UPDATE: STEP-OUT DRILLING AT TAMARACK INTERSECTS FURTHER MASSIVE NICKEL-COPPER-PGE SULPHIDE MINERALIZATION

Talon Metals Corp. is providing an exploration update on the Tamarack North nickel-copper-PGE (platinum group elements) project, located in Minnesota, United States. This update focuses on the results of the recent follow-up drilling in the newly discovered 221 zone (see the company's press release dated May 28, 2015, for a discussion of the new discovery at the Tamarack North project).

The discovery is located approximately two kilometres north-northeast of the Massive Sulphide Unit (MSU) mineral zone, which forms part of the Tamarack zone (the area that comprises the company's independent mineral resource estimate).

Highlights:

• Drill hole 15TK0229 intercepted a 9.88-metre zone of disseminated and massive nickel-copper-PGE sulphide mineralization from 693.79 metres depth, assaying 2.35 per cent Ni, 1.40 per cent Cu, 0.77 gram per tonne PGEs and 0.17 g/t gold, which equate to 3.04 per cent nickel equivalent (NiEq) (1) (see attached table) (2);
• The lower 2.84 metres of this intersection from 700.83 metres depth consist predominantly of massive nickel-copper-PGE sulphide mineralization, assaying 7.68 per cent Ni, 4.59 per cent Cu, 2.41 g/t PGEs and 0.53 g/t Au, which equate to 9.87 per cent NiEq, and also include a 1.63-metre basal zone of high-grade massive sulphide mineralization, assaying 9.33 per cent Ni, 5.14 per cent Cu, 3.65 g/t PGEs and 0.71 g/t Au, which equate to 12.01 per cent NiEq;
• The intersection successfully tested the prominent off-hole conductors modelled from the downhole electromagnetic (DHEM) surveys from recently drilled holes 15TK0221 and 15TK0228 (see attached table for further information on these drill holes). This work, in conjunction with 3-D DHEM modelling, suggests that these conductors are continuous along strike. The DHEM survey of drill hole 15TK0229 is currently in progress, and modelling of the data collected will commence shortly.

(1) NiEq percentages quoted in this news release are calculated using the following formula: NiEq per cent equals Ni per cent plus Cu per cent times 2.91 divided by 9.20 plus cobalt per cent times 14 divided by 9.20 plus Pt g/t divided by 31.103 times 1,400 divided by 9.2 divided by 22.04 plus palladium g/t divided by 31.103 times 600 divided by 9.2 divided by 22.04 plus Au g/t divided by 31.103 times 1,300 divided by 9.2 divided by 22.04.

(2) Where reported in this news release, widths 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.

"Stepping out two kilometres north-northeast of the MSU, located within the Tamarack zone, and intercepting exceptionally high-grade massive sulphide mineralization in two out of three holes, where there is zero mineral expression at surface and with no drill holes for a further two kilometres along strike, is once again testament to the effective deployment of intellectual property designed and integrated by the Kennecott team at Tamarack," said Henri van Rooyen, chief executive officer of Talon Metals. "The 221 zone discovery reaffirms the potential for widespread massive sulphide mineralization occurring along the 18-kilometre Tamarack igneous complex."

Exploration update

The drilling of drill hole 15TK0229 follows on from the new discovery of massive nickel-copper-PGE sulphides intersected in drill hole 15TK0221 and the associated off-hole DHEM anomaly located approximately 80 to 100 metres to the northwest of the hole at a depth of 700 to 800 metres below surface, which was subsequently followed up with the drilling of drill hole 15TK0228 (see the company's press release on May 28, 2015).

Drill hole 15TK0228 did not intersect the DHEM conductor modelled from drill hole 15TK0221; however, the subsequent DHEM survey from drill hole 15TK0228 provided valuable additional information for more precise modelling of the set of DHEM conductors, in conjunction with gravity and magnetic data, to guide the successful follow-up drilling of drill hole 15TK0229.

The intersection in drill hole 15TK0229 has confirmed the target area as a newly discovered zone of mineralization located approximately two kilometres north-northeast of MSU in the Tamarack zone. Consequently, this new zone of mineralization has been named the 221 zone. In addition to the off-hole conductors modelled from the DHEM surveys in drill holes 15TK0221 and 15TK0228, there is also evidence from the geology, magnetic and gravity data that supports the potential for massive sulphide mineralization to extend along strike.

The 221 zone discovery was made as a result of the significant step-out drilling that was the main goal of the 2015 winter exploration program conducted by Kennecott Exploration Company to explore areas along the Tamarack igneous complex (TIC) that are significant step-outs from the MSU zone, the Semi Massive Sulphide Unit (SMSU) mineral zone and the 138 zone (collectively referred to as the Tamarack zone).

Next steps

Based upon the positive results from drill hole 15TK0229, Talon and Kennecott wish to conduct additional drilling in the 221 zone. Consequently, Talon has remitted $500,000 (U.S.) to Kennecott for additional drilling. The company looks forward to updating its shareholders as this follow-up exploration program progresses.

Quality assurance, quality control and qualified persons

Please see the technical report entitled, "First Independent Technical Report on the Tamarack North Project, Tamarack, Minnesota," dated Oct. 6, 2014, prepared by independent qualified persons Brian Thomas, PGeo, of Golder Associates Ltd., Paul Palmer, PEng, of Golder and Manochehr Oliazadeh Khorakchy, PEng, of Hatch Ltd. for information on the QA/QC, analytical and testing procedures employed by Kennecott Exploration Company at the Tamarack North project. Copies are available on the company's website or on SEDAR. The laboratory used by Kennecott is ALS Chemex, which is independent of Kennecott and the company.

Widths 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.

James McDonald, vice-president, resource geology, of Talon and Mike Shaw, vice-president, exploration, of Talon are both qualified persons within the meaning of National Instrument 43-101. Mr. McDonald and Mr. Shaw are satisfied that the analytical and testing procedures used are standard industry operating procedures and methodologies, and they have reviewed, approved and verified the technical information disclosed in this news release, including sampling, analytical and test data underlying the technical information.

                    ASSAY RESULTS FOR DRILL HOLES IN THE 221 ZONE

                                     Total
                            Sample    hole
Hole ID       From      To  length  length    Ni    Cu    Co    Pt    Pd    Au   NiEq
               (m)     (m)     (m)     (m)     %     %     %   g/t   g/t   g/t      %

15TK0221    682.60  682.90    0.30  741.12  2.00  0.56  0.06  0.32  0.21  0.51   2.46
15TK0228                            836.98   NSM   NSM   NSM   NSM   NSM   NSM    NSM
15TK0229    693.79  703.67    9.88  807.72  2.35  1.40  0.05  0.42  0.35  0.17   3.04
(included)  700.83  703.67    2.84          7.68  4.59  0.15  1.33  1.09  0.53   9.87
(and
included)   702.04  703.67    1.63          9.33  5.14  0.18  2.29  1.35  0.71  12.01

NiEq percentages quoted in this news release are calculated using the following 
formula: NiEq per cent equals Ni per cent plus Cu per cent times 2.91 divided by 9.20
plus Co per cent times 14 divided by 9.20 plus Pt g/t divided by 31.103 times 1,400
divided by 9.2 divided by 22.04 plus Pd g/t divided by 31.103 times 600 divided by 
9.2 divided by 22.04 plus Au g/t divided by 31.103 times 1,300 divided by 9.2 divided
by 22.04.
NSM: No significant mineralization (nickel content below 0.35 per cent and NiEq below
0.5 per cent).

We seek Safe Harbor.