Talon Metals Reports Results for the Year
Talon Metals Reports Results for the Year
Ended December 31, 2024
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - March 28, 2025) - Talon Metals Corp. (TSX:
TLO) ("
Talon
" or the "
Company
") reported a net loss for the year ended December 31, 2024 of $2.3
million or nil per share (basic and diluted), which was primarily the result of administration expenses and
stock option compensation, offset by foreign currency gain and interest income. This compares to a net
loss for the year ended December 31, 2023 of $2.3 million or nil per share (basic and diluted), which
was primarily the result of administration expenses and foreign currency loss, offset by interest income.
Capitalized exploration and development costs and deferred expenditures on the Tamarack Nickel-
Copper-Cobalt Project for the year ended December 31, 2024 amounted to $13.9 million, primarily the
result of capitalized exploration and development costs and deferred expenditures, offset by a sale of a
royalty to Triple Flag USA Royalties Ltd. for net proceeds of $10.5 million and governments grants
received of $4.6 million. This compares to capitalized exploration and development costs and deferred
expenditures on the Tamarack Nickel-Copper-Cobalt Project of $44.2 million for the year ended
December 31, 2023.
The total capitalized exploration cost to the Tamarack Nickel-Copper-Cobalt
Project to December 31, 2024 amounts to $232.1 million.
Consolidated Financial Statements for the year ended December 31, 2024 and 2023, together with
Management's Discussion and Analysis have been filed on SEDAR+ and are available at
www.sedarplus.com
.
All amounts are presented in Canadian dollars.
ABOUT TALON
Talon is a TSX-listed base metals company 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 TLOFF. The Tamarack Nickel 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 Project, and currently owns 51%.
Talon is focused on (i) expanding and infilling its current high-grade nickel mineralization resource
prepared in accordance with NI 43-101 to shape a mine plan for submission to Minnesota regulators,
and (ii) following up on additional high-grade nickel mineralization in the Tamarack Intrusive Complex.
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 Defense 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:
Mike Kicis
President
Talon Metals Corp.
Tel: 1 (647) 968-0060
Email:
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/246433