Mr. Sean Werger reports

TALON METALS ANNOUNCES CLOSING OF INVESTMENT FOR PROCEEDS OF C$21.7 MILLION

Talon Metals Corp. has completed a non-brokered private placement of 80.35 million common shares of the company with an investor. The Offered Shares were issued at a price of approximately C$0.27 per Offered Share for aggregate gross proceeds to the Company of approximately C$21.7 million (the "Investment").

The Company intends to use the proceeds of the Investment for further exploration, to progress its feasibility study in respect of the Tamarack Nickel Project and the Battery Minerals Processing Facility in North Dakota and to progress the environmental review process towards permitting for the Tamarack Nickel Project and the Battery Minerals Processing Facility in North Dakota, and for general corporate and working capital purposes.

In connection with the Investment, the Company entered into an investment agreement with the Investor pursuant to which the Company has granted the Investor a contractual participation right in respect of future equity financings by the Company to allow the Investor the ability to maintain its ownership interest in the Company.

The Offered Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Offered Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Investment remains subject to final approval of the Toronto Stock Exchange (the "TSX").

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 an agreement with Tesla Inc. to supply it with 75,000 metric tonnes (165 million lbs) of nickel in concentrate (and certain by-products, 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 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$114m 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.