Talon Metals Reports New Assays and Step- Out Drilling Results Drill hole 25TK0563 Intercepted 8.85 Meters of Mineralization Starting at 774.40 meters, Grading 9.60% Ni, 12.65% Cu, 0.09% Co, 11.44g/t Pd+Pt and 11.12 g/t Au (20.96% NiEq or 41.43% CuEq)
Talon Metals Reports New Assays and Step-
Out Drilling Results
Drill hole 25TK0563 Intercepted 8.85 Meters of Mineralization Starting at 774.40 meters, Grading
9.60% Ni, 12.65% Cu, 0.09% Co, 11.44g/t Pd+Pt and 11.12 g/t Au (20.96% NiEq or 41.43% CuEq)
Step-Out Drilling Further Confirms Massive Sulphide Continuity and Intercepts Mixed Massive
Sulphides Approximately 79 Meters Below the Tamarack Resource Area
Tamarack, Minnesota--(Newsfile Corp. - February 4, 2026) - Talon Metals Corp. (TSX: TLO) (OTCID:
TLOFD) (
"Talon"
or the
"Company"
) is pleased to report successful step-out drill holes in the Vault
Zone of the Tamarack Nickel-Copper-Cobalt Project in Minnesota (the "
Tamarack Nickel-Copper
Project
"), as well as new assay results
.
Highlights
Figure 1: Drill hole 25TK0563B, drilled 16 meters to the northwest of drill hole 25TK0563
intercepted 8.85 meters of Massive Sulphide Unit mineralization starting at 774.40 meters
To view an enhanced version of this graphic, please visit:
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As outlined in the Company's
June 5, 2025
press release, drill hole
25TK0563
intercepted a combined
34.9 meters
of Massive Sulphide Unit ("
MSU
") mineralization grading 28.88% NiEq and 57.76% CuEq
starting at
762.34
meters
. Talon is pleased to report that drill hole
25TK0563B
, drilled 16 meters to the
northwest of drill hole
25TK0563
, intercepted
8.85 meters of MSU
starting at
774.40 meters
, which
assayed
9.60% Ni, 12.65% Cu, 0.09% Co, 11.44g/t Pd+Pt and 11.12 g/t Au (20.96% NiEq or
41.43% CuEq)
with full results as follows in Table 1.
Table 1: Assays for drill hole 25TK0565B
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)
25TK0563B
774.40
783.25
8.85
9.60
12.65
0.09
4.61
6.83
11.12
60.87
20.96
41.43
including
776.49
782.82
6.33
12.91
16.55
0.11
5.99
8.57
13.59
79.36
27.28
54.56
Please refer to Table 3 for further technical information
New drill hole 25TK0563C
, drilled
16 meters
to the
southwest
of drill hole
25TK0563
, intercepted
8.26
meters
of
MSU and Mixed Massive Sulphides ("MMS")
(assays pending) at the same
stratigraphic horizon as the upper part of drill hole
25TK0563
and at a similar depth to drill hole
25TK0563B
, starting at
773.95
meters (see Figure 2).
Figure 2: Drill hole 25TK0563C, drilled 16 meters to the southwest of drill hole 25TK0563
intercepted 8.26 meters of MMS/MSU starting at 773.95 meters
To view an enhanced version of this graphic, please visit:
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As outlined in the Company's
December 11, 2025
press release, drill hole
25TK0565
, located
103
meters
below drill hole 12TK0153C (see the November 2022 Technical Report for further details on drill
hole 12TK0153C) within the Tamarack Resource Area, intercepted
19.11
meters of MMS
grading
6.39% NiEq (11.67% CuEq)
starting at
670.00
meters, and
3.22
meters
grading
9.90% NiEq
(17.40% CuEq)
starting at
703.65 meters
(see Figure 3).
Figure 3: Drill hole 25TK0565, located 103 meters below drill hole 12TK0153C within the
Tamarack Resource Area intercepted 19.11 meters of MMS grading 6.39% NiEq (11.67% CuEq)
starting at 670.00 meters, and 3.22 meters grading 9.90% NiEq (17.40% CuEq) starting at
703.65 meters
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/282633_9468c00014578a4e_003full.jpg
Talon is pleased to announce that new drill hole
25TK0567
, located
79
meters
below drill hole
12TK0153C within the
Tamarack Resource Area
intercepted a total of
35 meters of MMS
starting at
645.26 meters
(assays pending) (see Figure 4), located
27 meters
above the MMS intercepted in drill
hole
25TK0565.
Figure 4: Drill hole 25TK0567 intercepted a total of 35 meters of MMS starting at 645.26 meters,
located 27 meters above the MMS intercepted in drill hole 25TK0565
To view an enhanced version of this graphic, please visit:
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Borehole Electromagnetic (
"BHEM"
) data continues to indicate high conductivity at multiple levels
where MSU and MMS mineralization has been intercepted. Talon's three in-house drill rigs are actively
drilling the Vault Zone with the goal of continuing to expand mineralization.
"W
ith the transaction with Lundin Mining now complete, our combined team is positioned to advance
our four strategic priorities in parallel working to materially extend the Eagle Mine life, accelerating
exploration in Michigan and Minnesota, advancing permitting at the Tamarack Nickel-Copper Project
and the Beulah Battery Minerals Processing Facility, and progressing engineering toward feasibility
study and construction-at a time when it is vitally important to drive decisively toward U.S. critical
minerals self-sufficiency
," said Darby Stacey, Talon's new CEO.
"Our methodical approach of focusing on Borehole Electromagnetic anomalies coupled with precision
drilling has continued to deliver success within the Vault Zone since the Talon drill rigs returned to the
Tamarack Nickel-Copper Project. The new assay results continue to demonstrate the consistency and
continuity of massive sulphide mineralization at the Vault Zone,"
said Brian Goldner, Talon's Chief
Exploration Officer.
New Successful MSU Step-out: Drill Hole 25TK0563C
New drill hole
25TK0563C
(see Figure 2) intercepted
8.26 meters
of
MMS and MSU
mineralization
starting at
773.95 meters
. This intercept, located
15 meters south
of drill hole
25TK0563B
, represents
a
16-meter step-out
to the southwest of the upper part of discovery drill hole
25TK0563.
Mineralization remains open in all directions
, and additional drill holes are planned
to the north
and to the east of drill hole 25TK0563
(see Figure 5).
Figure 5: Plan view and cross section of drill holes 25TK0563, 25TK0563B and 25TK0563C
with step out drill holes planned to the north and the east
To view an enhanced version of this graphic, please visit:
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New MMS Intercepted in the Stringer Part of the Vault Zone Starting 79 Meters Below the
Tamarack Resource Area: Drill Hole 25TK0567
Following the MMS intercepts in drill hole 25TK0565 that intercepted 19.11 meters of MMS grading
6.39% NiEq (11.67% CuEq) starting at 670.00 meters, and 3.22 meters grading 9.90% NiEq (17.40%
CuEq) starting at 703.65 meters, located 103 meters below drill hole 12TK0153C within the Tamarack
Resource Area (see Figure 3), new drill hole 25TK0567 intercepted 35 meters of MMS starting at
645.26 meters. The MMS mineralization in drill hole 25TK0567 located in the Stringer part of the Vault
Zone starts approximately 79 meters below drill hole 12TK0153C and ends approximately 27 meters
above the start of the MMS intercepted in drill hole 25TK0565.
MMS Stringers are defined by massive
sulphide veinlets occurring in discontinuous, usually short, narrow and irregular veins within the host rock
indicating fluid (sulphides) pathways.
The MMS intercepted in drill holes 25TK0565 and 25TK0567 are consistent with a near-vertical
mineralized structure hosted within meta-sedimentary rocks adjacent to the Tamarack Intrusive Complex.
Combined, drill holes 25TK0565 and 25TK0567, which are approximately 5 meters apart, demonstrate
vertical continuity of MMS over approximately 43 meters (see Figure 6).
Figure 6: Drill holes 25TK0565 and 25TK0567 with MMS mineralization starting at 79 meters
below the Tamarack Resource Area and continuing for approximately 43 meters (combined)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/282633_9468c00014578a4e_006full.jpg
Figure 7: Conceptual cross-section of the Vault Zone, showing new drill hole 25TK0567
relative to drill hole 25TK0565 within the MMS Stringer part of the Vault Zone, and new drill hole
25TK0563C relative to discovery drill hole 25TK0563 and drill hole 25TK0563B.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/282633_9468c00014578a4e_007full.jpg
Next Steps: Continuation of Vault Zone Expansion and Delineation
Talon's in-house exploration team continues to rapidly advance step-out drilling, guided by BHEM data,
to expand the Vault Zone mineralization both laterally and at depth. With mineralization remaining open
in all directions, Talon is also planning additional geological drill holes beyond the current reach of
BHEM to test for further extensions of the system.
For further discussion on the Vault Zone, please see
www.talonmetals.com/media
.
QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSONS
The Talon sample preparation, security, and Quality Assurance ("
QA
") / Quality Control ("
QC
") protocols
for the Tamarack Nickel-Copper Project are consistent with industry best practices and Canadian
Institute of Mining, Metallurgy and Petroleum Mineral Exploration Best Practice Guidelines (November
2018).
Talon has implemented documented QA programs that incorporate written procedures, acceptable
industry software, database organization, and standardized data presentation, all of which contribute to
confidence in the integrity of the dataset. The QC protocol has been documented (see also the
November 2022 Technical Report) and consistently applied since Talon's involvement with the Tamarack
Nickel-Copper Project.
The QA/QC program is based on the systematic insertion of certified reference materials ("CRM"),
including a variety of standards, blanks (materials containing no economic minerals), and duplicate
samples, which are used to monitor contamination, precision, and analytical accuracy at the primary
assay laboratory and to prevent inaccurate data from being accepted into the assay database. Samples
are submitted in batches of approximately 250 samples. Within each batch, QA/QC materials are
inserted at a rate of approximately one QA/QC sample for every ten core samples, including CRM
standards inserted at the front end of massive sulphide mineralization, blanks inserted immediately
following massive sulphide mineralization, and duplicate samples inserted approximately every 10
samples.
Sample security and chain-of-custody procedures are maintained throughout the sampling and analytical
process. Core samples are prepared and stored in a secure facility prior to shipment. Samples are
placed into plastic bins or sealed totes, which are secured using tamper-evident security tags. Before
sealing, a chain-of-custody form is placed inside each container. The containers are transported from
the core facility to the ALS laboratory in Thunder Bay, Ontario for preparation, and are subsequently
shipped to ALS Laboratories in Vancouver, British Columbia for analysis, where the chain-of-custody
documentation is signed by laboratory personnel and returned to Talon upon receipt, confirming sample
integrity.
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 further 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.sedarplus.ca
). 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 advancing and operating high-grade nickel-copper assets
in the United States, including 100% ownership of the Eagle Mine and Humboldt Mill in Michigan, the
only primary nickel mine currently operating in the United States, and the
Tamarack Nickel-Copper-
Cobalt Project
in Minnesota. Talon is in a joint venture with
Rio Tinto
on the high-grade 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 TLOFD. The Tamarack Nickel-Copper-Cobalt 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-Cobalt Project and
currently owns 51%. Talon has a
neutrality and workforce development agreement
in place with the
United Steelworkers union. Talon's Beulah 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 and experienced
exploration, mine permitting, mine development, operations and community relations 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 and the potential for a deposit in the Vault Zone. 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)
25TK0563B
491049.3
5168348.9
388.0
170.4
-85.4
896.7
25TK0563C
491049.3
5168348.9
388.0
170.4
-85.4
879.7
25TK0567
490999.3
5168293.0
388.0
75.7
-87.0
919.3
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 25TK0563B
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)
25TK0563B
774.40
783.25
8.85
9.60
12.65
0.09
4.61
6.83
11.12
60.87
20.96
41.43
including
776.49
782.82
6.33
12.91
16.55
0.11
5.99
8.57
13.59
79.36
27.28
54.56
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 25TK0563C and 25TK0567
HOLE #
FROM (m)
To (m)
Length
Quick Log
Sulphide texture
25TK0563C
572.26
592.53
CGO
592.53
701.83
CGO
701.83
702.72
SED
702.72
714.12
GAB
714.12
771.47
CGO
771.47
773.95
GAB
773.95
774.98
1.03
MMS
Stringers
774.98
782.21
7.23
MMS/MSU
Massive
782.21
782.52
GAB
782.52
809.10
CGO
809.1
828.94
SED
828.94
879.64
CGO
0
44.96
OB
44.96
418.32
FGO/MZNO
418.32
545.46
127.14
FGO/MZNO
Mod Diss