Talon Metals Corp., the majority owner and operator of the Tamarack Nickel-Copper-Cobalt Project ("Tamarack Nickel Project") in central Minnesota, continues to progress its discovery and delineation of high-grade nickel mineralization in the United States with new drill results from the "Raptor Zone". These results include a 2.2 meter (7.2 feet) intercept of high-grade massive nickel and copper mineralization, which represents a 139% increase in the thickness of mineralization compared to the previous drill hole in the area. Talon's in-house drilling and geophysics teams continue to grow their understanding of the high-grade mineralization potential in the Raptor Zone as the exploration and drilling program progresses.

Talon has continued with its drilling program in the Raptor Zone, with a new drill hole that targeted an off-hole borehole electromagnetic anomaly (geophysics) from previous drill hole 22TK0430. This previous drill hole had resulted in 0.92 meters (3.0 feet) grading 6.93% Ni and 2.73% Cu starting at 672.23 meters. Talon's new drill hole (23TK0483) has successfully resulted in 2.2 meters (7.2 feet) of high-grade massive nickel and copper mineralization, representing a 139% increase in thickness compared to previous drill hole 22TK0430.

"Thickness" refers to the contiguous length of high-grade material in a core sample from drilling that shows that in comparison to previous core samples, the zone of high-grade mineralization has "grown" between the two drill results. These results help to show that with more positive drilling results the potential for a new mineable resource has increased. The fact that the mineralization appears to be getting thicker is consistent with how the Company made its last new high-grade nickel-copper discoveries at the Tamarack Nickel Project (CGO East and CGO West).

Consequently, the Company is extremely encouraged by the continued positive results in the Raptor Zone, and follow-up drilling continues. The new drill hole is over 1 km away from the Tamarack Nickel Project Resource Area and represents significant potential for additional high-grade discoveries within the Tamarack Intrusive Complex. On September 12, 2023, Talon and the US Department of Defense announced that Talon has received a grant of $20.6 million to support and accelerate Talon's exploration efforts in both Minnesota and Michigan.

Funds from the US Department of Defense will be used to support additional exploration drilling and geophysical studies in the Raptor Zone. Talon currently has three drill rigs operating in the Raptor Zone. In addition to drill hole 23TK0483, a follow-up hole to drill hole 23TK0482 has also been completed and resulted in an increased thickness of disseminated nickel mineralization from 4.2 meters (13.8 feet) to over 10 meters (32.8 feet) in new drill hole 23TK0485.

Additional drilling is planned with the goal of expanding this mineralization in this new and previously untested area.