Mr. Mike Kici reports

TALON METALS REPORTS RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2025

Talon Metals Corp. had a net income for the three months ended Sept. 30, 2025, of $1,676 or nil per share (basic and diluted), which was primarily the result of administration expenses offset by foreign currency gains and interest income. This compares with a net loss for the three months ended Sept. 30, 2024, of $600,000 or nil per share (basic and diluted), which was primarily the result of administration expenses and stock option compensation. All dollar amounts are in Canadian dollars, except as noted.

The company's net loss for the nine months period ended Sept. 30, 2025, was $2.0-million or nil per share (basic and diluted). This compares with a net loss of $1.6-million or nil per share (basic and diluted) for the same period in the prior year.

Capitalized exploration and development costs and deferred expenditures on the Tamarack nickel-copper-cobalt project for the three months ended Sept. 30, 2025, amounted to $5.6-million, primarily the result of exploration and development costs and deferred expenditures of $7.4-million, offset by governments grants received of $1.8-million. This compares with capitalized exploration and development costs and deferred expenditures on the Tamarack nickel-copper-cobalt project for the three months ended Sept. 30, 2024, which amounted to a credit of $3.7-million, primarily the result of a sale of a royalty for net proceeds of $10.5-million and governments grants received of $700,000, offset by capitalized exploration and development costs and deferred expenditures of $7.6-million. The total capitalized cost to the Tamarack nickel-copper-cobalt project to Sept. 30, 2025, amounts to $240.8-million.

The condensed interim consolidated financial statements for the three and nine months ended Sept. 30, 2025, and Sept. 30, 2024, together with management's discussion and analysis, have been filed on SEDAR+.

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 (over-the-counter) market under the symbol TLOFF. The Tamarack nickel-copper-cobalt 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 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 $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.