Mr. Sean Werger reports

TALON METALS REPORTS RESULTS FOR THE QUARTER ENDED MARCH 31, 2024

Talon Metals Corp. had a net loss for the three months ended March 31, 2024, of $300,000 or nil per share (basic and diluted), which was primarily the result of administration expenses offset by foreign currency gains. This compares with a net loss for the three months ended March 31, 2023, of $600,000 or nil per share (basic and diluted), which was primarily the result of administration expenses offset by interest income.

Capitalized exploration and development costs and deferred expenditures on the Tamarack nickel-copper-cobalt project for the three months ended March 31, 2024, amounted to $6.8-million. This compares with $11.7-million for the three months ended March 31, 2023. The total capitalized exploration cost to the Tamarack nickel-copper-cobalt project to March 31, 2024, amounts to $211.7-million.

Condensed interim consolidated financial statements for the three months ended March 31, 2024, and 2023, together with management's discussion and analysis, have been filed and are available on SEDAR+.

About Talon Metals Corp.

Talon Metals is a Toronto Stock Exchange-listed base metal company in a joint venture with Rio Tinto on the high-grade Tamarack nickel-copper-cobalt project located in central Minnesota. Talon Metals' 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 of the current resource area. Talon Metals has an earn-in right to acquire up to 60 per cent of the Tamarack nickel project, and currently owns 51 per cent. Talon Metals is focused on: (i) expanding and infilling its current high-grade nickel mineralization resource prepared in accordance with National Instrument 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 Metals has a neutrality and work force development agreement in place with the United Steelworkers Union. Talon Metals' 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 Defence awarded Talon Metals a grant of $20.6-million (U.S.) to support and accelerate Talon Metals' exploration efforts in both Minnesota and Michigan. Talon Metals has well-qualified experienced exploration, mine development, external affairs and mine permitting teams.