Mr. Brian Goldner reports

TALON METALS INTERCEPTS HIGH-GRADE NICKEL-COPPER MINERALIZATION IN 14 NEW HOLES LOCATED OUTSIDE OF THE TAMARACK NICKEL PROJECT RESOURCE

Talon Metals Corp. has drilled new holes at the Tamarack nickel project, with numerous massive sulphide intercepts outside the Tamarack nickel project's resource.

Highlights:

• Talon is releasing results from 116 new drill holes at the Tamarack nickel project, of which 20 are exploration holes drilled with the goal of expanding the resource at the Tamarack nickel project, while 96 are geotechnical holes that were drilled to support engineering work for a future mine and rail access at the Tamarack nickel project.
• Fourteen of the 20 exploration drill holes intersected high-grade nickel-copper mineralization outside of the Tamarack nickel project's resource (13 holes with assays released today and seven holes with assays still pending).
• The Tamarack nickel project continues to show significant high-grade nickel-copper growth potential with multiple areas still open to expansion.
• Some notable drill holes:
  • Proximate to the CGO East area, two drill holes (22TK0431 and 22TK0435) intersected 4.54 metres of 4.63 per cent nickel equivalent and 3.25 metres of 3.56 per cent NiEq, respectively, of high-grade massive sulphides approximately 75 metres down strike from the Tamarack nickel project resource;
    • Of note, the 4.54-metre intercept of high-grade massive sulphides contained in drill hole 22TK0431 ties the Tamarack nickel project's record for the longest high-grade massive sulphide interval in the CGO East area to date;
  • In the CGO West area, drill holes 22TK0421 and 22TK0424 intersected 8.5 metres of 8.05 per cent NiEq and 10.49 metres of 7.97 per cent NiEq, respectively, of high-grade massive sulphides outside of the Tamarack nickel project's resource. CGO West remains open at depth and represents a high-priority exploration target for the company;
  • In the upper semi-massive sulphide unit, a number of drill holes have intersected thick sequences of mineralization, such as drill hole 22TK0425, which intersected 48.68 metres of 1.16 per cent NiEq and resides outside of the Tamarack nickel project's resource.

"Fourteen of the 20 new exploration drill holes contained in today's news release have produced new high-grade nickel-copper intercepts outside of the Tamarack nickel project's resource. Today's results yet again highlight the prospectivity for significant resource growth throughout the Tamarack intrusive complex," said Brian Goldner, Talon's chief exploration officer.

"In addition to today's excellent drill results, Talon's drill crews have reached an incredible milestone, as they have successfully completed three years without a recordable incident or injury," said George Zugel, Talon's head of health and safety. "When our in-house drilling program began three years ago, it was built around a group of five experienced drillers who trained incoming helpers to execute their tasks safely and efficiently. We have since grown to over 35 drill staff from the original five and have been able to maintain our health and safety focus throughout that growth. This group inspires excellence in all of us."

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 $114.8-million (U.S.) funding grant from the Bipartisan Infrastructure Law and the U.S. Department of Defense awarded Talon a grant of $20.6-million (U.S.) 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.

We seek Safe Harbor.