Mr. Henri van Rooyen reports

TALON METALS DRILLS 101.71 METERS (333 FEET) OF 3.04% NICKEL EQUIVALENT AT THE TAMARACK NICKEL PROJECT

Talon Metals Corp. has successfully drilled 101.71 metres (333 feet) of high-grade nickel-copper mineralization at the Tamarack nickel project, grading 1.94 per cent nickel, 1.84 per cent copper, 0.35 gram per tonne palladium, 0.64 g/t platinum and 0.62 g/t gold (1.61 g/t platinum group elements (PGEt) plus Au) (3.04 per cent nickel equivalent).

Highlights:

• Drill intercept of 101.71 metres grading 1.94 per cent Ni, 1.84 per cent Cu, 0.35 g/t Pd, 0.64 g/t Pt and 0.62 g/t Au (1.61 g/t PGEt plus Au) (3.04 per cent NiEq).
• The drill hole was completed in partnership with a research team from Columbia University that is funded by the Department of Energy (DOE) Advanced Research Projects Agency-Energy (ARPA-E) Mining Innovations for Negative Emissions Resource Recovery (MINER) program that funds novel approaches to enhanced metal recoveries within the mining industry.

• A team from Columbia University has partnered with Talon to use critical mineral concentrates from the Tamarack nickel project to conduct lab studies that will explore potential novel processing technologies that lower the carbon dioxide (CO2) footprint of mining operations, while increasing the amount of nickel and copper extracted from ore (beyond the high metallurgical recoveries already achievable at the Tamarack nickel project). These research and development programs aim to increase U.S. nickel production and lower the overall cost of nickel extraction compared with standard industry practices.
• Using funds from Columbia's ARPA-E grant, Talon successfully drilled 101.71 metres (333 feet) of high-grade nickel-copper mineralization (3.04 per cent NiEq) at the Tamarack nickel project. This drill hole is located within the Tamarack resource area.
• The drill hole was part of Talon's approved annual drill program with the Minnesota Department of Natural Resources (an approval process that includes input from proximate tribal sovereign governments).
• Talon and the State of Minnesota gain additional geological knowledge with respect to the Tamarack nickel project through the Columbia-funded drilling, while Columbia will obtain material to utilize in its lab experiments to test novel approaches to enhanced metal recoveries within the mining industry.
• The combination of Columbia University's initiatives, along with Talon's continuing exploration and innovation programs, are part of Talon's full-value mining strategy to ensure that society is able to utilize the maximum amount of critical minerals in the ore that is extracted.

"Intercepting 101.71 metres (333 feet) of high-grade nickel-copper mineralization is a reminder of the uniqueness of the Tamarack nickel project's U.S. nickel resources," said Henri van Rooyen, chief executive officer of Talon. "Most projects aspire to intercept just two metres (6.6 feet) of high-grade nickel. The goal of this Columbia collaboration is to both add to our understanding of the orebody, while also supporting research aimed at recovering additional nickel, copper and other critical minerals used in clean energy systems."

"One exciting aspect of this drill hole is that the copper and PGE grades are much higher than anticipated compared to the nickel grades, especially in the lower zone of mineralization where 12.4 metres assayed at 2.98 per cent Ni, 3.84 per cent Cu, 1.38 g/t Pd, 2.79 g/t Pt and 2.68 g/t Au (6.85 g/t PGEt plus Au)," said Brian Goldner, chief exploration officer and chief operating officer at Talon. "The exploration team is working to model this unusual area of fractionated mineralization to identify other areas within the resource it may be residing."

Alan West, professor of chemical engineering in Columbia's School of Engineering and Applied Sciences, and the project's principal investigator, remarked: "The Columbia Engineering team is very excited to partner with Talon and ARPA-E. This is a great opportunity to demonstrate and scale our processes aimed at improving the recovery of the critical materials that we need to transition energy systems and manufacturing to sustainable technologies, while also minimizing local environmental impacts of metals production."

Mr. van Rooyen concluded: "Talon is taking a full-value mining approach and harnessing innovation to understand how we can do mineral extraction in a better way. By working with top-notch U.S. research and development institutions like Columbia University, we are hoping to deliver better outcomes that help the United States create secure domestic supplies of critical minerals for clean energy systems."

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 kilometres of strike length) with additional 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 (U.S.) 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.