TLO.TO · 2016-12-31 12:00:00

Talon Reports Results FOR the Year Ended

Financials

News Release

TSX:TLO

TALON REPORTS RESULTS FOR THE YEAR ENDED

DECEMBER 31, 2016

Road Town, British Virgin Islands (March 31, 2017) – Talon Metals Corp. (“Talon” or

the “Company”) (TSX: TLO) reported a net loss for the year ended December 31, 2016

of $1.4 million or $0.01 per share (basic and diluted), which was primarily the result of an

investment loss on the Company’s shareholding in Tlou Ene rgy and administration

expenses, offset by a gain on the fair value revaluation of the Resource Capital Fund VI

L.P. unsecured convertible loan.

This compares to a net loss for the year ended December 31, 2015 of $6.3 million or

$0.06 per share (basic and diluted), which was primarily the result of an impairment loss

on the Trairão Iron Project, an investment loss on the Company’s shareholding in Tlou

Energy and administration expenses, offset by a gain on the sale of a net smelter returns

royalty that the Company held over the São Jorge Gold Project.

Capitalized exploration costs and deferred expenditures on the Tamarack Nickel -

Copper-PGE Project for the year ended December 31, 2016 amounted to $21.8 million.

This compares to $5.5 million for the year ended December 31, 2015. The total

capitalized exploration cost on the Tamarack Nickel -Copper-PGE Project to De cember

31, 2016 amounts to $37.1 million.

Consolidated Audited Financial Statements for the years ended December 31, 2016 and

2015, together with Management’s Discussion and Analysis and the Company’s Annual

Information Form, have been filed on SEDAR and are available at www.sedar.com.

About Talon

Talon is a TSX -listed company focused on the e xploration 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 experie nce 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