Resource Capital Fund VI L.P. Announces Conversion of Outstanding Debt Facilities with Talon Metals Corp.

PRESS RELEASE

Resource Capital Fund VI L.P. Announces Conversion of Outstanding Debt

Facilities with Talon Metals Corp.

March 8, 2019, Denver, Colorado. Resource Capital Fund VI L.P. (“RCF”) reports that on

March 7, 2019, RCF agreed to convert all outstanding amounts under its existing US$16

million convertible loan facility with Talon Metals Corp. (“Talon”) (the “Convertible Loan”),

as well as its outstanding US$1 million unsecured promissory note (the “Promissory

Note”), to common shares (“Common Shares”) of Talon pursuant to the terms of certain

amendments to the loan agreement and promissory note.

RCF converted all outstanding amounts under the Convertible Loan at the conversion

price of C$0.156 per Common Share, and RCF was issued 196,776,515 Common Shares

(which assumed an exchange rate of C$1.3350 = US$1 and accrued interest to March 6,

2019).

The outstanding US$1 million Promissory Note has been repaid through the delivery of

Common Shares at the conversion price of C$0.0826. RCF was issued 18,043,542

Common Shares (which assumed an exchange rate of C$1.3350 = US$1 and accrued

interest to March 6, 2019).

As a result of the conversions of the outstanding amounts of the Convertible Loan and the

Promissory Note, RCF was issued a total of 214,820,057 Common Shares.

Prior to the conversions and the issuance of the Common Shares, RCF owned 12,376,097

Common Shares, representing approximately 9.5% of the then issued and outstanding

Common Shares. After the conversions, RCF now owns 227,196,154 Common Shares,

representing approximately 55.6% of the issued and outstanding Common Shares.

The Common Shares were issued by Talon and not acquired on the secondary market.

RCF acquired the Common Shares for investment purposes. RCF may from time to time

acquire additional securities, exercise convertible securities, dispose of some or all of the

existing or additional securities or may continue to hold the securities of Talon.

Talon’s head office is located at Craigmuir Chambers, P.O. Box 71, Road Town, Tortola,

British Virgin Islands.

In accordance with applicable law, the Common Shares will be subject to a four month

hold period commencing on March 7, 2019.

To obtain a copy of the early warning report filed under applicable Canadian securities

laws in connection with the transactions hereunder, please see Talon’s profile on the

SEDAR website www.sedar.com.

About Resource Capital Fund VI L.P.

RCF VI is a private investment fund existing under the laws of the Cayman Islands. For

further information and to obtain a copy of the early warning report, please contact:

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Resource Capital Fund VI L.P.

1400 Sixteenth Street, Suite 200,

Denver, CO, 80202, USA

Telephone: (720) 946-1444

Attn: Molly Campbell