Talon Metals Corp. received confirmation on January 30, 2024 from the Michigan Department of Natural Resources that its Administrative Board approved the Company's application (through its subsidiaries) for 23,000 acres of additional mineral leases in the Upper Peninsula of Michigan. The 23,000 acres of mineral leases augment the Company's announcement on August 10, 2022 that it entered into an option and earn-in agreement (the "Option Agreement") with UPX Minerals Inc. (a wholly-owned subsidiary of Sweetwater Royalties) ("UPX") to acquire up to an 80% ownership interest in the mineral rights over a land package comprised of approximately 400,000 acres located in the Upper Peninsula of the State of Michigan.

This land package was originally assembled by Henry Ford and owned for approximately 70 years by the Ford Motor Company. The combined land package covers highly prospective terrain within 1.7 miles (2.8km) of the high-grade Eagle Nickel Mine (the only active nickel mine in the USA today) and is only 0.4 miles (0.6km) from the Humboldt Mill (the concentrator which currently processes the raw nickel ore from the Eagle Nickel Mine).