Mr. Terry Harbort reports

TALISKER CLOSES C$3.6 MILLION PRIVATE PLACEMENT

Talisker Resources Ltd. has closed the non-brokered private placement previously announced on Oct. 18, 2023, raising total gross proceeds of approximately $3.6-million. In connection with the offering, the company issued an aggregate of 4,611,733 common share units at a price of 30 cents per unit and 6,363,178 flow-through units of the company at a price of 35 cents per FT unit.

Each unit consists of one common share of the company and one-half common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at an exercise price of 50 cents until Nov. 6, 2025. Each FT unit consists of one common share issued as a flow-through share (each, a FT share) within the meaning of the Income Tax Act (Canada) and one-half of one warrant.

The company intends to use the proceeds of the offering for the exploration on the company's projects in British Colombia as well as for general working capital purposes. The gross proceeds from the sale of the FT shares will be used by the company to incur resource exploration expenses which will constitute Canadian exploration expenses as defined in Subsection 66.1(6) of the Tax Act and flow-through mining expenditures as defined in Subsection 127(9) of the Tax Act, which will be renounced with an effective date no later than Dec. 31, 2023, to the purchasers of the FT units in an aggregate amount not less than the gross proceeds raised from the issue of the FT shares.

In connection with the offering, the company paid finders' fees equal to 6 per cent of the gross proceeds of the offering and issued finders' warrants equal to 6 per cent of the number of offered securities to finders including Red Cloud Securities Inc., Research Capital Corp., amongst others (in each case, other than in respect of sales to certain purchasers on the company's president's list). Each finder's warrant entitles the holder thereof to purchase one common share at an exercise price of 33 cents until Nov. 6, 2025.

The offered securities and issued pursuant to the offering, including the warrants and finder's warrants, are subject to a four-month hold period pursuant to applicable securities laws.

Certain insiders of the company subscribed for an aggregate of 666,667 units and 160,714 FT units pursuant to the offering. Participation by such insiders in the offering was considered a related party transaction pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with insiders' participation in the offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI 61-101. A material change report in connection with the participation of insiders in the offering will be filed less than 21 days in advance of the closing of the offering, which the company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the offering in an expeditious manner.

About Talisker Resources Ltd.

Talisker is a junior resource company involved in the exploration and development of gold projects in British Columbia, Canada. Talisker's flagship asset is the high-grade, fully permitted Bralorne gold project where the company is currently transitioning into underground production at the Mustang mine. Talisker projects also include the Ladner gold project, an advanced stage project with significant exploration potential from an historical high-grade producing gold mine and the Spences Bridge project where the company holds about 85 per cent of the emerging Spences Bridge gold belt, and several other early stage Greenfields projects.

We seek Safe Harbor.