Mr. Brian Goldner reports

MORE NICKEL IN THE USA: TALON METALS EXTENDS NICKEL-COPPER MINERALIZATION IN THE RAPTOR ZONE BY 110 METERS

Talon Metals Corp., the majority owner and operator of the Tamarack nickel-copper-cobalt project in central Minnesota, has made progress in its 2024 exploration plan, particularly focusing on an update to the drilling program in the Raptor zone.

Highlights:

• Talon extends nickel-copper mineralization in the Raptor zone from 250 metres of strike to over 350 metres;
• Talon intends to continue exploration in the Raptor zone, as the mineralization is open in all directions.

Follow-up drilling of geophysical anomaly successfully intersects massive sulphide mineralization in the Raptor zone

In the company's press release dated May 2, 2024, the company announced that drill hole 23TK0480A identified a borehole electromagnetic anomaly within the Raptor zone. This anomaly, modelled as a 30 m by 30 m plate at 4,000 siemens, projected to the expected continuation of the channel of mineralization, indicating the potential for additional high-grade nickel-copper mineralization.

The company has now drilled the geophysical anomaly (located 37 metres away from previously drill hole 23TK0480A), and successfully intersected 8.91 metres of nickel mineralization, including 1.77 metres of massive sulphide mineralization (assays pending).

Brian Goldner, chief operating officer and chief exploration officer of Talon, commented on the recent results, stating: "New drill hole 24TK0505 is a fantastic result and continues to show the value of integrated geophysics guiding our in-house drilling operations. The massive sulphide mineralization in this hole displays pentlandite and chalcopyrite loop textures, which indicates the sulphides had pooled and cooled slowly. Exploration drilling will continue throughout 2024 in this area of the Raptor zone to add additional strike to the known mineralization."

Brian Bengert, vice-president of geophysics, commented on the success of new drill hole 24TK0505: "Talon's geophysical team identified an unusual conductive anomaly in the Raptor zone that resulted in intersecting massive sulphides in drill hole 23TK0480A. The data from that hole then generated an even more conductive target that resulted in finding even thicker massive sulphides in hole 24TK0505. These holes now appear to be in a larger system that connects over a hundred metres back to other successful drill holes in the Raptor zone."

Mr. Bengert also commented on the commitment Talon has for geophysical exploration: "Talon's commitment to geophysical research and development has been unprecedented for a company of this size, and we are now starting to reap some of the benefits. For instance, Talon was a primary funding source for Novaminex's Provus EM [electromagnetic) modelling software. This new holistic modelling approach is now being applied to integrate our geophysical datasets, showing that the Raptor zone extends into a much larger conductive system that requires further exploration."

Based upon the continued successful drill results, Talon will continue exploration and conduct stepout drilling around the recent results.

Raptor zone overview

The Raptor zone is a sill-shaped intrusion parallel to and approximately one kilometre north of the Tamarack resource area, with the Tamarack resource area stacked on top of the Raptor zone. Based upon drilling to date, it appears that nickel-copper mineralization is widespread throughout the Raptor zone intrusion and appears to be sheet-like mineralization along its base (potentially four km in strike and two km in width). This potentially continuous, extensive mineralization is up to 10 metres thick. The increasing mineralization thickness parallels Talon's past successes in discovering high-grade nickel-copper deposits, notably CGO East and CGO West within the Tamarack resource area. This consistent trend is a strong indicator of continuing positive results in the Raptor zone.

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, Minn.," 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, and 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. The locations and distances highlighted on all maps in this news release are approximate.

Dr. Etienne Dinel, vice-president of geology for 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 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.

We seek Safe Harbor.