Talon Metals Corp. ("Talon" or the "Company") confirms the presence of high-grade nickel in the newly discovered "Raptor Zone", with grades up to 6.93% nickel intersected. Over the past several months, Talon has been advancing its dual strategy of (i) new exploration along the Tamarack Intrusive Complex, with the primary goal of discovering additional high-grade nickel-copper resources at the Tamarack Nickel Project; and (ii) progressing the requisite drilling, data collection, modelling, and engineering studies and designs to enable Talon to commence the environmental review process that starts the permitting process in the state of Minnesota and completing a feasibility study for the Tamarack Nickel Project.

Talon is also progressing planning, design and permitting of its Battery Minerals Processing Facility in Mercer County, North Dakota, which was selected by the US Department of Energy for $114 million in grant funding under the Bipartisan Infrastructure Law in October of 2022. Exploration Update: Confirmed High-Grade Nickel in the New Raptor Zone. Talon has received assay results for the newly drilled Raptor Zone, located nearly 2 miles (3.2 km) outside of the Tamarack Nickel Project's resource area.

Talon believes it has confirmed a new "system" of high-grade nickel-co Copper mineralization within the Tamarack Intr intrusive Complex and consequently, is planning to drill an additional 20,000 meters within the Raptor Zone to determine if the 1-2 meters of identified high-grade massive nickel sulphide mineralization further thickens (similar to the Company's initial discovery within the CGO West area). Assay results have been received for the 6 holes in the newly identified Raptor Zone that all intersected basal massive nickel mineralization. These assays confirm that high-grade nickel mineralization exists well outside the Tamarack Nickel Project' resource area in the largely unexplored Raptor Zone.

Exploration: Next Steps With the completion of the Company's winter drilling program, the Company has plans for additional exploration drilling, with three to four drill rigs turning for the remainder of 2023. Exploration will focus on further drilling within the new Raptor Zone, with an additional 20,000 meters of drilling planned. In addition, the Company plans to drill between 3,000-5,000 meters in an area located approximately 1 km south of the Tamarack Nickel Project's resource area (currently referred to as the 164 Zone) where historic high-grade massive nickel sulphides have been identified but not yet followed up on.

Winter Program (Production-related) Drilling Activities: Talon has had 8 drill rigs operating during the winter season in Minnesota, with 6 of these rigs dedicated to helping progress the Tamarack Nickel Project towards production. Drilling and investigation activities have included, among other things, the following: 3 drill rigs conducting drilling activities for geotechnical characterization. This information will be used to inform the feasibility design of the surface and rail facilities.

1 vibrating sonic drill rig conducting overburden classification. This information will be used to do a feasibility design for the soil portion of the access tunnels to the underground mine. 1 truck rig conducting hydrophysical work for groundwater studies.

This information will be used to supplement existing hydrogeological studies to inform feasibility design of water handling systems and water treatment. 1 diamond drill rig evaluating bedrock conditions for underground access and development. This information will be used to inform feasibility design of the rock portion of the access tunnel to the underground mine.