TLO.TO · 2017-03-31 12:00:00

Talon Reports Results FOR the Three Months Ended

Financials

News Release

TSX:TLO

TALON REPORTS RESULTS FOR THE THREE MONTHS ENDED

MARCH 31, 2017

Road Town, British Virgin Islands ( May 12, 2017) – Talon Metals Corp. (“Talon” or

the “Company”) (TSX: TLO) reported a net loss for the three months ended March 31,

2017 of $1.9 million or $0.01 per share (basic and diluted), which was primarily the result

of the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible

loan and administration expenses.

This compares to net income for the three months ended March 31, 2016 of $1.8 million

or $0.01 per share (basic and diluted), which was primarily the result of the fair value

revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan, offset by

administration expenses and a loss on investments.

Capitalized exploration costs and deferred expenditures on the Tamarack Nickel -

Copper-PGE Project for the three months ended March 31, 201 7 amounted to $ 1.0

million. This compares to $ 21.2 million for the three months ended March 31, 201 6.

The total capitalized exploration cost on the Tamarack Nickel -Copper-PGE Project to

March 31, 2017 amounts to $38.1 million.

Condensed Consolidated Interim Financial Statements for the three months ended

March 31, 2017 and 2016, together with Management’s Discussion and Analysis , have

been filed on SEDAR and are available at www.sedar.com.

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 additio nal 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