Mr. Sean Werger reports

TALON METALS REPORTS RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2024

Talon Metals Corp. had 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. This compares with a net loss for the three months ended Sept. 30, 2023, of $500,000 or nil per share (basic and diluted), which was primarily the result of administration expenses.

The company's net loss for the nine months period ended Sept. 30, 2024, was $1.6-million or nil per share (basic and diluted). This compares with a net loss of $1.7-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, 2024, amounted to a credit of $3.7-million, primarily the result of capitalized exploration and development costs and deferred expenditures offset by a sale of a royalty for net proceeds of $10.5-million. This compares with capitalized exploration and development costs and deferred expenditures on the Tamarack nickel-copper-cobalt project of $11.4-million for the three months ended Sept. 30, 2023. The total capitalized exploration cost to the Tamarack nickel-copper-cobalt project to Sept. 30, 2024, amounts to $213.2-million.

Condensed interim consolidated financial statements for the three and nine months ended Sept. 30, 2024, and 2023, 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 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 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 has a neutrality and work force development agreement in place with the United Steelworkers union. Talon's battery mineral processing facility in Mercer county, North Dakota, 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.