TLO.TO · 2018-06-21 12:00:00

Talon Metals Update: Drill Results Received for the 480 and 221 Zones at Tamarack

Drill Results

Talon Metals Update: Drill Results Received for the 480

and 221 Zones at Tamarack

Road Town, British Virgin Islands--(Newsfile Corp. - June 21, 2018) - Talon Metals Corp. (TSX: TLO) ("

Talon

" or the

Company

") 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.

Final

rill

esults

from the

2018

Tamarack Winter Exploration Program

This press release concludes the reporting of results from the 2018 Tamarack Winter Exploration Program.

During the 2018 Tamarack Winter Exploration Program, four additional holes were drilled to target depth, as shown in Figure 1.

Figure

Plan view showing approximate localities of

4 additional

drill holes for the 201

Tamarack

inter

xploration

rogram

To view an enhanced version of Figure 1, please visit:

http://orders.newsfilecorp.com/files/2443/35387_a1529527488393_9.jpg

In the 480 Zone, drill hole 18TK0264 targeted a downhole electro-magnetic (

"DHEM"

) anomaly identified by Maxwell plate

modeling of holes 17TK0260 and 17TK0263 (see Figure 2). Hole 18TK0264 confirmed the consistency of previously observed

geology from the 2017 program, namely the continuation of a thick interval of Coarse-Grain Peridotite (

CGO

) intruding above

a thin layer of Fine-Grained Peridotite (

FGO

The interpreted drill hole lithology, as shown in Figure 2, display this trend.

Figure

: Oblique

section show

ing

rill

ole

18TK0264

(2018)

, 17TK0260

(2017)

and 17TK0263

(2017)

intercepts,

viewed from the

southwest

(looking

northeast

)

The FGO unit is located at the base on the CGO interval and

too

narrow to be visible at current scale

To view an enhanced version of Figure 2, please visit:

http://orders.newsfilecorp.com/files/2443/35387_a1529527488706_2.jpg

The wide CGO intercept from 378.6 meters to 535 meters mimics the geology of drill hole 17TK0263.

Drill hole 18TK0264

intersected a thin FGO unit with a Massive Sulphide Unit (

) hosted below the FGO footwall contact. The MSU is 0.25

meters at a depth of 539.04 meters with grade of 9.95% Ni, 5.74% Cu, 0.16% Co, 0.80 g/t Pt, 1.66 g/t Pd and 0.32 g/t Au within

a larger interval of 2.86 meters grading 1.82% Ni, 1.16% Cu, 0.04% Co, 0.38 g/t Pt, 0.35 g/t Pd and 0.28 g/t Au.

In the 221 Zone, drill holes 15TK0229A, B and C targeted a previously drilled MSU reported in drill holes 15TK0221 and

15TK0229 (parent hole) (see Figure 3). The three daughter holes were deviated at depth from drill hole 15TK0229 to test the

potential extensions of the MSU. Drill hole 15TK0229 intercepted a 9.88 meter zone of disseminated and massive Ni-Cu-PGE

sulphide mineralization from 693.79 meters depth, assaying 2.35% Ni, 1.40% Cu, 0.77g/t PGE's and 0.17 g/t Au (see previous

Press Release dated September 1, 2015).

The three new daughter holes represent a step-out of 25 to 30 meters to the west

(B), south (A) and to the southeast (C). A DHEM Maxwell plate has been modeled from drill hole 15TK0230 (see Figure 3).

Figure 3: Oblique section showing drill holes 15TK0229 and 15TK0229A, B, and C intercepts viewed from the south

(looking north). The FGO unit is too narrow to be visible at current scale.

To view an enhanced version of Figure 3, please visit:

http://orders.newsfilecorp.com/files/2443/35387_a1529527489018_57.jpg

Two of the three daughter holes intersected sulphides. Specifically, drill hole 15TK0229A intersected sulphide clasts, interpreted

as remobilised sulphides, associated with FGO xenoliths at the base of the CGO intrusion.

The number of sulphide clasts

increases from 709.34 to 715.74 meters. Sulphide clasts sizes vary from millimetre-scale to 0.15 meters in diameter.

The drill

hole contains an interval of 3.33 meters at 3.03 % Ni, 1.89% Cu, 0.06% Co, 1.11 g/t Pt, 0.64 g/t Pd and 0.45 g/t Au starting at a

depth of 712.39 meters. While drill hole 15TK0229B did not intersect significant sulphides, drill hole 15TK0229C intersected an

MSU interval of 0.46 meters followed by patches of sulphides over the next 0.18 meters to a total of 0.64 meters at a depth of

706.36 meters.

In particular, the MSU in drill hole 15TK0229C resembles the geological setting of the MSU in the Tamarack

Zone, i.e., mineralization hosted in sediments below an FGO footwall contact.

Grades of the MSU in drill hole 15TK0229C are

5.39% Ni, 3.01% Cu, 0.12% Co, 1.00 g/t Pt, 0.64 g/t Pd and 0.15 g/t Au over 0.64 meters.

"We are pleased with the winter exploration results at the Tamarack Project,"

said Sean Werger, President of Talon.

"Presently, Talon and Kennecott are in discussions concerning the next phase of exploration at Tamarack."

Update Regarding

Talon's Interest in the Tamarack Project

Talon initially owned 18.45% of the Tamarack Project.

As Talon elected not to contribute capital to the 2018 Winter Exploration

Program, Talon's interest in the project has been diluted to 17.77% in accordance with the Mining Venture Agreement (as at the

end of May 2018).

Talon knowingly made the decision to dilute rather than contribute to this program.

Quality Assurance, Quality Control and

Qualified Person

Please see the technical report entitled "

Second Independent Technical Report on the Tamarack North Project - Tamarack,

Minnesota

" dated March 26, 2018, prepared by independent "Qualified Persons" (as that term is defined in NI 43-101) Mr.

Brian Thomas (P. Geo) of Golder Associates Limited, Mr. Tim Fletcher (P. Eng) of DRA Americas Inc. and Mr. Oliver Peters (P.

Eng) of Metpro Management Inc. 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, which 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.

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 Talon, 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 development 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]

Table 1:

Collar Locations for

Drill

Holes from the 201

Winter

Exploration Program

Hole ID

Easting

Northing

Elevation

Azimuth

Dip

Length

15TK0229A

491918.76

5170221.84

388.58

279*

-88*

757.43

15TK0229B

491918.76

5170221.84

388.58

184**

-86**

760.17

15TK0229C

491918.76

5170221.84

388.58

175***

-86***

769.77

18TK0264

490577.80

5171725.70

384.05

-90

580.95

Estimated

Azimuth and Dip at

daughter hole take

off (@

)

Estimated

Azimuth and Dip at

daughter hole take

off (@

504m

)

***

Estimated

Azimuth and Dip at

daughter hole take

off (@

520m

)

Table 2: Assay Results from the 201

Winter

Exploration Program

ZONE

Hole ID

From (m)

To (m)

Length (m)

% Cu

% Ni

% Co

Pt g/t

Pd g/t

Au g/t

221

15TK0229A

712.39

715.72

3.33

1.89

3.03

0.06

1.11

0.64

0.45

Including

714.39

715.72

1.33

3.27

5.62

0.11

1.65

0.98

0.55

15TK0229B

NSM

15TK0229C

706.36

707.00

0.64

3.01

5.39

0.12

1.00

0.64

0.15

480

18TK0264

537

539.86

2.86

1.16

1.82

0.04

0.38

0.35

0.28

Including

539.04

539.29

0.25

5.74

9.95

0.16

0.8

1.66

0.32

Length:

refers

borehole

length

and

not

True

Width.

True

Width

unknown

the

time of

publication.

NSM:

Significant

Mineralization

All

samples

were

analysed

ALS

Minerals.

Nickel,

copper,

and

cobalt

grades

were

first

analysed

acid

digestion

and

ICP

AES

(ME-MS61).Grades

reporting

greater

than

0.25%

and/or

0.1%

Cu,

using

ME-MS61,

trigger

sodium

peroxide

fusion

with

ICP-AES

finish

(ICP81).

Platinum,

palladium

and

gold

are

initially

analyzed

50g

fire

assay

with

ICP-MS

finish

(PGM-MS24).

Any

samples

reporting

>1g/t

trigger

over-limit

analysis

ICP-AES

finish

(PGM-ICP27)

and

any

samples

reporting

>1g/t

trigger

over-limit

analysis

AAS

(Au-AA26).

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