Talon Metals Update: Drill Results Received FOR the 480, 221 and 164 Zones at Tamarack

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News Release

TSX:TLO

TALON METALS UPDATE:

DRILL RESULTS RECEIVED FOR THE 480, 221 and 164 ZONES AT

TAMARACK

Road Town, British Virgin Islands ( May 24 , 2017) – Talon Metals Corp. (“Talon” or the

“Company”) (TSX: TLO) is pleased to provide an update on the Tamarack Nickel-Copper-PGE

project (“Tamarack Project”), located in Minnesota, USA. The Tamarack Project comprises the

Tamarack North Project and the Tamarack South Project. Talon owns an 18.45% interest in the

Tamarack Project.

Final Drill Results from the 2017 Tamarack Winter Exploration Program (480 Zone)

During the 2017 Tamarack winter exploration program, 11 holes were drilled to target depth, as

shown in Figure 1. This press release concludes the reporting of results from the Tamarack

winter exploration program.

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Figure 1: Plan view showing approximate localities of drill holes for the 2017 Tamarack winter exploration

program

Drill hole 17TK0262 targeted a downhole electro-magnetic ( “DHEM”) anomaly to the north of

drill hole 17TK0255 . Prior to any drilling in this area, Talon modeled the Coarse Grained

Peridotite (“CGO”) from gravity and magnetic data, which predicted a gradual widening of the

CGO to the north of drill hole 17TK0255. The results, as shown in Figure 2, confirm this trend.

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Figure 2: Oblique section show ing drill hole 17TK0255 and 17TK0262 intercepts, viewed from the east

(looking west)

No significant Nickel-Copper-PGE mineralization was intercepted in drill hole 17TK0262.

Drill hole 17TK0263 targeted a DHEM anomaly to the north of drill hole 17TK0260 . The wide,

CGO intercept from 378.6 meters to 535 meters in drill hole 17TK0263 validates the Talon CGO

model, which was created from gravity and magnetic data. See Figure 3.

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Figure 3: Oblique section showing drill hole 17TK0 260 and 17TK0263 intercepts, viewed from the east

(looking west)

No significant Nickel-Copper-PGE mineralization was intercepted in drill hole 17TK0263.

“The conclusion of the winter exploration program at the Tamarack Project marks the beginning

of an exciting new chapter for Talon”, said Sean Werger, President of Talon. “More particularly,

Kennecott and Talon have until September 25, 2017 to either negot iate a transaction whereby

Talon will purchase Kennecott’s interest in the Tamarack Project, or proceed with an

81.55/18.45 joint venture on the Tamarack Project pursuant to a Mining Venture Agreement that

has already been negotiated and is ready for signa ture. We look forward to keeping our

shareholders informed as events or decisions unfold.”

Quality Assurance, Quality Control and Qualified Person

Please see the technical report entitled “First Independent Technical Report on the Tamarack

North Project, Tamarack, Minnesota” dated October 6, 2014 (the “ Tamarack North Technical

Report”) prepared by independent “Qualified Persons” Brian Thomas (P. G eo) of Golder, Paul

Palmer (P. Eng) of Golder and Manochehr Oliazadeh Khorakchy (P. Eng) of Hatch Ltd. for

information on the QA/QC, analytical and testing procedures employed by Kennecott at the

Tamarack Project. Copies are available on the Company’s website ( www.talonmetals.com) or

on SEDAR at ( www.sedar.com). The laboratory used by Kennecott is ALS Minerals who is

independent of Kennecott and 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.

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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.

James McDonald, Vice President, Resource Geology of T alon is a Qualified Person within the

meaning of NI 43-101. Mr. McDonald 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.

About Talon

Talon is a TSX -listed company focused on the exploration and devel opment of the Tamarack

Nickel-Copper-PGE Project in Minnesota, USA (which comprises the Tamarack North Project

and the Tamarack South Project). The Company has a well -qualified exploration and mine

management team with extensive experience in project management.

For additional information on Talon, please visit the Company’s website at

www.talonmetals.com or contact:

Sean Werger

President

Talon Metals Corp.

Tel: (416) 361-9636 x102

Email: [email protected]

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Table 1: Collar Locations for Holes from the 2017 Winter Exploration Program

Hole ID Easting (m) Northing (m) Elevation

(masl) Azm Dip End

Depth

17TK0252 491731.7 5172936.7 390.4 340.9 -84.4 228.0

17TK0253* 489828.4 5172375.7 387.0 90.0 -84.0 69.2

17TK0254 492144.2 5170779.7 390.1 354.5 -84.3 579.9

17TK0255 489828.4 5172375.6 387.0 83.5 -85.2 687.9

17TK0256 491678.4 5173089.6 391.9 157.2 -75.7 324.6

17TK0257 491383.1 5172898.3 389.9 60.1 -84.3 242.0

17TK0258 491791.5 5173050.6 393.6 358.8 -75.5 212.8

17TK0259 490903.8 5167285.0 386.9 313.0 -74.9 691.6

17TK0260 490566.4 5171653.8 385.5 350.5 -84.8 582.6

17TK0261 490698.3 5170062.9 388.0 98.3 -85.1 596.8

17TK0262** 489828.3 5172376.5 401.0 21.9 -83.5 660.8

17TK0263 490553.0 5171757.0 385.7 245.5 -89.8 579.7

Collar coordinates are Professionally Surveyed (UTM Zone 15N, NAD83) unless otherwise noted.

*Hole Lost. Planned collar azm/dip used

** Measured by Differential GPS

Table 2: Assay Results from the 2017 Winter Exploration Program

Zone Hole ID FROM

(m)

To

(m)

LENGTH

(m) % Cu % Ni % Co Pt g/t Pd g/t Au g/t

480

17TK0252 NSM NSM NSM NSM NSM NSM

17TK0256 NSM NSM NSM NSM NSM NSM

17TK0257 NSM NSM NSM NSM NSM NSM

17TK0258 NSM NSM NSM NSM NSM NSM

221 N and

NW

17TK0254 NSM NSM NSM NSM NSM NSM

17TK0261 NSM NSM NSM NSM NSM NSM

164 Zone 17TK0259 NSM NSM NSM NSM NSM NSM

480 Zone

17TK0253 Abandoned and re-drilled (17TK0255)

17TK0255 NSM NSM NSM NSM NSM NSM

17TK0260 NSM NSM NSM NSM NSM NSM

17TK0262 NSM NSM NSM NSM NSM NSM

17TK0263 NSM NSM NSM NSM NSM NSM

Length: refers to borehole length and not True Width. True Width is unknown at the time of Publication.

NSM: No Significant Mineralization

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 50g 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).