Mr. Henri van Rooyen reports

TALON METALS DRILLING INTERSECTS ENTIRELY NEW AREA OF NICKEL MINERALIZATION

Talon Metals Corp.'s drill teams have hit a new area of semi-massive nickel sulphide in a part of the Tamarack intrusive complex that has never been explored. The new nickel mineralization was encountered at a shallow depth of approximately 296.3 metres in an area between the Raptor's Head area and the Raptor's Crest area within the newly named Raptor zone.

Both the Raptor's Head and the Raptor's Crest areas contain high-grade massive nickel mineralization with grades up to 9.33 per cent Ni and 9.95 per cent Ni, respectively; however, the 1.5-kilometre distance between these zones has never been drilled.

This maiden drill hole intersected 4.21 metre of nickel mineralization (assays pending), but of particular interest is that the mineralization is texturally very similar to what is observed in the Tamarack resource area semi-massive sulphide (SMSU) unit located over two km south of this drill hole (that is, within the Tamarack resource area). Coarse-grained SMSU has never been identified outside of the Tamarack resource area. This drill hole represents a 450-metre stepout from the nearest drill hole and provides ample room for exploration.

Brian Goldner, chief exploration and operations officer of Talon, said: "This intersection reminds me of our first discovery in the Tamarack resource area in 2008. At that time, we were drilling coarse-grained nickel mineralization of similar size to the current drill hole, trying to figure out where it came from. It took 42 holes to make that first discovery back then, but today we have the benefit of our in-house drilling team and our in-house geophysics team with industry-leading technology to guide further exploration in the Raptor zone."

Henri van Rooyen, chief executive officer of Talon, commented: "This is just one more signal that there is more nickel in America. While we have started the process of permitting an underground mine in the Tamarack resource area, we are committed to continuing to search for more high-grade nickel deposits in Minnesota and Michigan. Our strategy is to become a significant supplier of U.S. nickel for U.S. batteries from both the Tamarack intrusive complex (TIC) in Minnesota and from potential future nickel discoveries in Michigan. In 2021 and 2022, Talon's in-house geology, geophysics and drill teams discovered and delineated the CGO-East and CGO-West high-grade nickel areas, which led to a deal with Tesla. Presently, our teams are drilling approximately one km to the south of the Tamarack resource area in the 164 zone, approximately 1.8 km to the northeast of the Tamarack resource area in the Raptor's Head area and approximately 2.6 km to the northeast of the Tamarack resource area between the Raptor's Head and Raptor's Crest areas, where the mineralization was intercepted."

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 Nov. 2, 2022, prepared by independent qualified persons (as that term is defined in National Instrument 43-101) Brian Thomas (PGeo), Roger Jackson (PGeo), Oliver Peters (PEng) and Christine Pint (PG) for information on the QA/QC, data verification, analytical and testing procedures at the Tamarack nickel project. Copies are available on the company's website or on SEDAR. The laboratory used is ALS Minerals which 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

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.

About Talon Metals Corp.

Talon is a Toronto Stock Exchange-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 United States over the OTC market under the symbol TLOFF. The Tamarack nickel project comprises a large land position (18 km of strike length) with high-grade intercepts outside the current resource area. Talon has an earn-in right to acquire up to 60 per cent of the Tamarack nickel project, and currently owns 51 per cent. 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 an agreement with Tesla Inc. to supply it with 75,000 metric tonnes (165 million pounds) of nickel in concentrate (and certain byproducts, including cobalt and iron) from the Tamarack nickel project over an estimated six-year period once commercial production is achieved. Talon has a neutrality and work force development agreement in place with the United Steelworkers union. Talon's battery mineral processing facility in Mercer county was selected by the U.S. Department of Energy for a $114-million funding grant from the Bipartisan Infrastructure Law. Talon has well-qualified, experienced exploration, mine development, external affairs and mine permitting teams.

We seek Safe Harbor.