Talon Metals Extends High-Grade Vault Zone with Step-Out Drilling in Multiple Sulphide Stacks New Drill Holes Confirm Lateral Extension of Massive Sulphide Mineralization Predicted by Borehole Electromagnetic Surveys
Talon Metals Extends High-Grade Vault Zone
with Step-Out Drilling in Multiple Sulphide
Stacks
New Drill Holes Confirm Lateral Extension of Massive
Sulphide Mineralization Predicted by Borehole
Electromagnetic Surveys
Tamarack, Minnesota--(Newsfile Corp. - December 11, 2025) - Talon Metals Corp. (TSX: TLO) (OTCID:
TLOFF) (
"Talon"
or the
"Company"
) is pleased to report
multiple successful step-out drill holes
from the previously reported exceptional discovery intercepts
in the Vault Zone of the Tamarack
Nickel-Copper-Cobalt Project in Minnesota (the "
Tamarack Nickel-Copper Project
"), as well as new
assay results confirming
significant copper enrichment.
Figure 1: The third (lower) Mixed Massive Sulphide (MMS) and Massive Sulphide Unit (MSU)
mineralization intercepted in step out drill hole 25TK0563B
To view an enhanced version of this graphic, please visit:
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Highlights
Drill hole 25TK0563B
intercepted 7.56 meters of Massive Sulphide
("
MSU
") in a 16-meter
step out from drill hole 25TK0563 and is on the same stratigraphic horizon as the upper portion
(20.4 meters) of the 34.9 meter discovery.
Drill hole 25TK0566
intercepted 5.16 meters of MSU/MMS
in an approximate 16 meter step out
to the south from discovery drill hole 16TK0250. Intercepts from 25TK0563B and 25TK0565 at the
same stratigraphic horizon now provide 4 pierce points into the discovery.
Assays from drill hole 25TK0565 show significant grades considering sedimental dilution
emphasizing the strength and persistence of copper enrichment across the Vault Zone.
Table 1: Assays for drill hole 25TK0565
Drill Hole
(#)
From
(m)
To
(m)
Length
(m)
Assay
NiEq
(%)
CuEq
(%)
Ni
(%)
Cu
(%)
Co
(%)
Pd
(g/t)
Pt
(g/t)
Au
(g/t)
Ag
(g/t)
25TK0565
670.00
689.11
19.11
2.38
4.72
0.03
1.31
2.49
2.32
12.44
6.39
11.67
including
670.00
682.52
12.52
2.76
5.76
0.03
1.91
3.64
3.44
15.71
7.98
14.48
including
685.12
689.11
3.99
2.67
4.36
0.05
0.28
0.47
0.25
9.12
5.35
9.88
and
703.65
706.87
3.22
2.77
11.69
0.05
0.52
0.46
0.58
17.14
9.90
17.40
Please refer to Table 3 for further technical information
Figure 2: Drill hole 25TK0565 mineralized interval from 670.00 meters to 689.11 meters.
To view an enhanced version of this graphic, please visit:
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Chalcopyrite veinlets intercepted at 880 meters in drill hole 25TK0566 provide new evidence to
support the vertical plate from the borehole electromagnetic ("
BHEM
") survey in drill hole
16TK0248 and the potential for more stacked zones below the discovery in drill hole 25TK0563.
New Successful Step-out: Drill Hole 25TK0563B
With three drill rigs fully operational and Talon's full exploration team at Tamarack, the Company is
rapidly expanding and delineating
the high-grade Vault Zone.
As outlined in the Company's
November 4, 2025 press release
, BHEM results from drill hole 16TK0248,
supported by high-conductivity plates modeled from drill holes 25TK0563 and 25TK0562, pointed to a
laterally continuous massive sulphide horizon along the drill hole 25TK0563 stratigraphic level.
The BHEM predicted lateral extension of the MSU, intersected in drill hole 25TK0563 is now confirmed
by the new intercept in drill hole 25TK0563B.
Drill hole 25TK0563B (see Figure 1) intercepted 7.56 meters (from 775.57 meters to 783.13 meters) of
Mixed Massive Sulphide ("
MMS
") and MSU within the same stratigraphic horizon as the upper portion
(from 762.34 to 782.73 meters) of the 34.9 meters of MSU previously intercepted in drill hole 25TK0563
located approximately 16 meters away (see Figure 3)
which averaged 28.88% NiEq and 57.76%
CuEq
(see the Company's
June 5, 2025 press release
).
Figure 3: Cross section looking southwest of the Vault Zone showing the spatial relationship
between discovery drill hole 25TK0563 and the new approximate 16m step out drill hole
25TK0563B
To view an enhanced version of this graphic, please visit:
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New Successful Step-out: Drill Hole 25TK0566
As outlined in the Company's
November 4, 2025 press release
, Talon reported that BHEM surveys from
drill hole 25TK0565 and from the deepening of historic drill hole 16TK0250 indicated potential lateral
continuity of massive sulphides within the upper parts of the stratigraphy, located approximately 88
meters above drill holes 25TK0563 and 25TK0563B. These high conductivity plates suggested that the
massive sulphide interval intercept of 8.25 meters (from 707.77 to 716.02 meters) grading 12.62% Ni,
13.88% Cu, 0.12% Co and 17.95 g/t PGEs+Au (see the Company's
May 1, 2025 press release
) in drill
hole 16TK0250 could extend laterally to the south.
Figure 4: MMS and MSU mineralization intercepted in drill hole 25TK0566
To view an enhanced version of this graphic, please visit:
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The BHEM-predicted lateral extension of the MSU intercepted in drill hole 25TK0250 is now
confirmed by the new intercept in drill hole 25TK0566.
Step-out drill hole 25TK0566 (see Figure 4), drilled approximately 16 meters south of drill hole
16TK0250 (see Figure 5),
intercepted 5.16 meters (from 721.48 meters to 726.64 meters) of
MSU/MMS
at the same stratigraphic horizon as drill hole 16TK0250, where the BHEM plates indicated
a conductivity anomaly, confirming lateral continuity in that direction.
Near the bottom of drill hole 25TK0566 a series of chalcopyrite veinlets were intersected at
approximately 880 meters depth.
At the Tamarack Nickel-Copper Project MSU veinlets are one of the
best leading indicators for finding MSU and the nearest known MSU is nearly 100 meters away from this
occurrence.
BHEM surveys will focus on this area to evaluate for a deeper MSU body.
Figure 5: Plan view map of the Vault Zone at approximately 700m depth, showing the new
assay results from drill hole 25TK0565 and new MMS in drill holes 25TK0566 and 25TK0563B
at the same depth elevation as discovery drill hole 16TK0250
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/277690_674435ff64e13931_005full.jpg
Assays from Drill Hole 25TK0565 Shows Significant Copper Enrichment
Assays for drill hole 25TK0565 (see Table 3) which intercepted
19.11 meters of MMS grading
2.38%
Ni, 4.72% Cu, 0.03% Co, and 6.12g/t PGEs + Au (6.35% NiEq or 11.60% CuEq) starting at 670.00
meters
and 3.22 meters grading 2.77% Ni, 11.69% Cu, 0.05% Co and 1.56 g/t PGEs + Au (9.85%
NiEq or 17.31% CuEq) starting at 703.65 meters
(see Figure 2).
This intercept is interpreted to lie on the outer edge of the massive sulphide stack (see Figure 6) first
discovered in drill hole 16TK0250 which aligns with the same horizontal stratigraphy as drill holes
25TK0566 and 16TK0250.
Figure 6: Conceptual cross-section through the Vault Zone showing the stack of previously
intercepted high-grade nickel-copper-PGE mineralization
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/277690_674435ff64e13931_006full.jpg
As first outlined in the Company's
August 6, 2025 press release
, disseminated and vein-hosted
mineralization above the massive sulphide interval in drill hole 25TK0565 contains chalcocite and
bornite, indicating potential hypogene copper enrichment which is a mineral assemblage that has only
been observed in the Vault Zone.
The Cu:Ni ratio in drill hole 16TK0565 is
1.98, compared to the typical 0.41-0.77 Cu:Ni ratio
in the
Tamarack Resource Area, further
supporting this early indication of strong copper enrichment.
Although the 19.11 meters assayed in drill hole 25TK0565 were intersected on the outer edge of the
massive sulphide stack, where the MMS contains significant sedimental dilution of MSU, the zone still
graded 6.35% NiEq or 11.60% CuEq over the full width. This demonstrates not only the exceptional
underlying grades within the massive sulphides themselves, but also the strength and persistence of
copper enrichment within the Vault Zone.
Next Steps: Continuation of Vault Zone Delineation
During the Winter 2026 exploration program, Talon's fully crewed, three-rig drilling campaign will
continue targeting BHEM plates to determine:
The lateral extent of MSU and MMS accumulations at the 670 meter to the 730 meter depth level
where drill holes 16TK0250, 25TK0565, 25TK0566 and 25TK0563B intercepted both MSU and
MMS.
The lateral extent of MSU and MMS accumulations at the 760 meter to the 810 meter depth level
where drill holes 25TK0563 and 25TK0563B intercepted both MSU and MMS.
The potential for similar MSU and MMS on the opposite side of the intrusion, an area with no prior
drilling (see right side of the conceptual cross section in Figure 5).
The potential for additional MSU accumulation at depth following the vertical anomaly identified
from BHEM in drill hole 16TK0248.
Successive drill targets will be refined based on ongoing geological and geophysical insights.
"
When we announced the first Vault Zone MSU intercept in the deepened 16TK0250 drill hole on
March 26, 2025, we emphasized the possibility that it represented the beginning of a new massive
sulphide pooling environment. The drilling since then has fundamentally expanded that picture. What
began as a single intercept has now developed into multiple stacked massive sulphide horizons, each
demonstrating lateral continuity through multiple successful step-outs. The geometry, scale and
strong copper enrichment (up to 4x what we see in the Tamarack Resource Area), confirms that the
Vault Zone is emerging as a high-grade system with substantial expansion potential,"
said Brian
Goldner, Talon's Chief Exploration and Operations Officer.
"
Our work in the Vault Zone is only just beginning. Winter is the most effective drilling season at
Tamarack, and with three rigs turning we are able to accelerate expansion and delineation. In parallel,
we are using this time to prepare for a major 2026 exploration program in Michigan, where we plan to
expand our Boulderdash discovery and advance several other high-quality targets. Together, these
efforts position Talon for one of its most active and impactful exploration years to date,
" said Henri van
Rooyen, Talon's Chief Executive Officer.
For further discussion on the Vault Zone, please see
www.talonmetals.com/media
.
QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSONS
Please see the technical report entitled "November 2022 National Instrument 43-101 Technical Report of
the Tamarack North Project - Tamarack, Minnesota" with an effective date of November 2, 2022
("
November 2022 Technical Report
") prepared by independent "Qualified Persons" (as that term is
defined in National Instrument 43-101 ("
NI 43-101
")) Brian Thomas (P. Geo), Roger Jackson (P. Geo),
Oliver Peters (P. Eng) and Christine Pint (P.G) for information on the QA/QC, data verification, analytical
and testing procedures at the Tamarack Nickel Copper Project. Copies are available on the Company's
website (www.talonmetals.com) or on SEDAR at (
www.sedar.com
). The laboratory used is ALS
Minerals who is independent of the Company.
Lengths are drill intersections and not necessarily true widths. True widths cannot be consistently
calculated for comparison purposes between holes because of the irregular shapes of the mineralized
zones. Drill intersections have been independently selected by Talon. Drill composites have been
independently calculated by Talon. The geological interpretations in this news release are solely those of
the Company. The locations and distances highlighted on all maps in this news release are approximate.
Dr. Etienne Dinel, Vice President, Geology of Talon, is a Qualified Person within the meaning of NI 43-
101. Dr. Dinel is satisfied that the analytical and testing procedures used are standard industry operating
procedures and methodologies, and he has reviewed, approved and verified the technical information
disclosed in this news release, including sampling, analytical and test data underlying the technical
information.
Where used in this news release:
NiEq% = Ni% + Cu% x $4.00/$8.00 x Cu Recovery/Ni Recovery + Co% x $20.00/$8.00 x Co
Recovery/Ni Recovery + Pt [g/t]/31.103 x $1,000/$8.00/22.04 x Pt Recovery/Ni Recovery + Pd
[g/t]/31.103 x $1,000/$8.00/22.04 x Pd Recovery/Ni Recovery + Au [g/t]/31.103 x $2,000/$8.00/22.04 x
Au Recovery/Ni Recovery + Ag [g/t]/31.103 x $20.00/$8.00/22.04 x Ag Recovery/Ni Recovery
CuEq% = Cu%+ Ni% x $8.00/$4.00 x Ni Recovery/Cu Recovery + Co% x $20.00/$4.00 x Co
Recovery/Cu Recovery + Pt [g/t]/31.103 x $1,000/$4.00/22.04 x Pt Recovery/Cu Recovery + Pd
[g/t]/31.103 x $1,000/$4.00/22.04 Pd Recovery/Cu Recovery + Au [g/t]/31.103 x $2,000/$4.00/22.04 Au
Recovery/Cu Recovery + Ag [g/t]/31.103 x $20.00/$4.00/22.04 x Ag Recovery/Cu Recovery
For Ni and Cu recoveries, please refer to the formulae in the November 2022 Technical Report.
Recovery of Ni to the Cu concentrate was excluded from the NiEq calculation. The following recoveries
were used for the other metals: 64.1% for Co, 82.5% for Pt, 69.3% for Pd and 72.6% for Au and Ag.
ABOUT TALON
Talon is a TSX-listed base metals company in a joint venture with
Rio Tinto
on the high-grade
Tamarack
Nickel Copper Project
Tamarack Nickel-Copper-Cobalt Project
located in central Minnesota. Talon's
shares are also traded in the US over the OTC market under the symbol TLOFF. The Tamarack Nickel
Copper Project comprises a large land position (18km of strike length) with additional high-grade
intercepts
outside the current resource area
.
Talon has an earn-in right to acquire up to 60% of the
Tamarack Nickel Copper Project and currently owns 51%.
Talon has a
neutrality and workforce
development agreement
in place with the United Steelworkers union. Talon's Battery Mineral Processing
Facility in Mercer County was
selected by the US Department of Energy
for US$114.8 million funding
grant from the Bipartisan Infrastructure Law and the
US Department of War awarded Talon a grant of
US$20.6 million
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.
For additional information on Talon, please visit the Company's website at
www.talonmetals.com
or
contact:
Media Contact:
Jessica Johnson
(218) 460-9345
Investor Contact:
Mike Kicis
1 (647) 968-0060
FORWARD-LOOKING STATEMENTS
This news release contains certain "forward-looking statements". All statements, other than statements
of historical fact that address activities, events or developments that the Company believes, expects or
anticipates will or may occur in the future are forward-looking statements. These forward-looking
statements reflect the current expectations or beliefs of the Company based on information currently
available to the Company. Such forward-looking statements include statements relating to future
exploration work, including future drill holes, drill results, assays, geophysics and geological
interpretations. Forward-looking statements are subject to significant risks and uncertainties and other
factors that could cause the actual results to differ materially from those discussed in the forward-looking
statements, and even if such actual results are realized or substantially realized, there can be no
assurance that they will have the expected consequences to, or effects on the Company.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be
required by applicable securities laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent uncertainty therein.
Table 2: Collar Locations of Drill Holes
Drill Hole
(#)
Easting
(m)
Northing
(m)
Elevation
(masl)
Azm
Dip
End
Depth (m)
25TK0565
490998.2
5168295.3
388.0
85.7
-88.3
787.3
25TK0563B
491049.3
5168348.9
388.0
170.4
-85.4
842.2
25TK0566
490992.5
5168402.0
388.0
171.0
-78.5
900.0
Collar coordinates are UTM Zone 15N, NAD83.
Azimuths and dips are taken from the survey record at collar unless otherwise noted.
Table 3: Assay Table for Drill Hole 25TK0565
Drill Hole
(#)
From
(m)
To
(m)
Length
(m)
Assay
NiEq
(%)
CuEq
(%)
Ni
(%)
Cu
(%)
Co
(%)
Pd
(g/t)
Pt
(g/t)
Au
(g/t)
Ag
(g/t)
25TK0565
670.00
689.11
19.11
2.38
4.72
0.03
1.31
2.49
2.32
12.44
6.39
11.67
including
670.00
682.52
12.52
2.76
5.76
0.03
1.91
3.64
3.44
15.71
7.98
14.48
including
685.12
689.11
3.99
2.67
4.36
0.05
0.28
0.47
0.25
9.12
5.35
9.88
and
703.65
706.87
3.22
2.77
11.69
0.05
0.52
0.46
0.58
17.14
9.90
17.40
Length refers to drill hole length and not True Width.
True Width is unknown at the time of publication.
All samples were analysed by ALS Minerals.
Nickel, copper, and cobalt grades were first analysed by a 4-acid digestion and
ICP AES (ME-MS61).
Grades reporting greater than 0.25% Ni and/or 0.1% Cu, using ME-MS61, trigger a sodium peroxide fusion with ICP-AES finish (ICP81). Platinum,
palladium, and gold are initially analyzed by a 30g fire assay with an ICP-MS finish (PGM-MS24). Any samples reporting >1g/t Pt or Pd trigger an over-
limit analysis by ICP-AES finish (PGM-ICP27) and any samples reporting >1g/t Au trigger an over-limit analysis by AAS (Au-AA26). For Ag, ICP-AES
through Aqua regia digestion (ME-ICP 41).
Table 4: Quick Lithology Log for Drill Holes 25TK0563B and 25TK0566
Drill Hole #
From
(m)
To (m)
Length (m)
Quick Log
% Sulphides
25TK0563B
552.93
638.55
CGO
1-5%
638.55
638.86
GAB
7%
638.66
665.99
CGO
Tr
665.99
670.05
GAB
670.05
688.98
SED
688.98
693.66
CGO
693.66
695.92
SED
tr-7%
695.92
697.71
1.79
MMS
15%
697.71
701.81
SED
701.81
711.85
GAB
1%
711.85
713.75
CGO
713.75
714.97
1.22
MMS
40%
714.917
770.57
CGO
Tr
770.57
771.71
SED
4%
771.71
773.59
GAB
2%
773.59
775.57
SED
5%
775.57
783.13
7.56
MMS/MSU
40-95%
783.13
799.94
CGO
Tr
799.94
814.59
SED
Tr
814.59
896.72
CGO
25TK0566
0
61.25
OB
61.25
424.89
FGO
Tr
424.89
550.01
125.12
FGO/MZNO
5-25%
550.01
617.83
CGO
3-5%
617.83
620.23
2.4
SED
10%
620.23
633.45
GAB
4%
633.45
721.48
SED
tr-2%
721.48
726.64
5.16
MMS/MSU
15-80%
726.64
729.39
2.75
SED
8%
729.39
834.00
CGO
Tr
834.00
879.80
SED
Tr
879.80
882.00
SED
1%
882.00
882.99
SED
Tr
Quick lithology log of drill holes: Overburden (OB); Meta-sedimentary rocks (SED); Fine-grained Orthocumulate/Mixed Zone (FGO/MZNO); Coarse-
grained Orthocumulate (CGO); Gabbro (GAB).; Mixed and Massive Suphides (MMS/MSU)