US EV Battery Supply Chain: Talon Metals Commends President Biden for Designating Nickel & Battery Materials for Defense Production Act Support President Biden's Action Provides New Support and Exceptional Tools to Support Domestic Production of Nickel
US EV Battery Supply Chain: Talon Metals
Commends President Biden for Designating
Nickel & Battery Materials for Defense
Production Act Support
President Biden's Action Provides New Support and
Exceptional Tools to Support Domestic Production of Nickel
and Other Vital Battery Materials
Tamarack, Minnesota--(Newsfile Corp. - March 31, 2022) - Talon Metals Corp. (TSX: TLO) (OTC Pink:
TLOFF) (
"Talon"
or the
"Company"
), the majority owner and operator of the Tamarack Nickel-Copper-
Cobalt Project ("
Tamarack Nickel Project
") in central Minnesota, commends President Biden for
adding battery materials including nickel, cobalt and lithium to the extraordinary support available under
the Defense Production Act (DPA) Title III program.
The DPA Title III program provides authority for the
Administration to use a variety of tools to support domestic production: funding for particular aspects of
project development, funding for infrastructure or equipment, and the ability to commit to offtake
contracts are just some of the tools that become available once added to the list of national priority
industries.
The President's action today builds on bipartisan support for adding battery materials to the
DPA authorities led by Senators Manchin, Murkowski, Cassidy and Risch (
Senators Murkowski,
Manchin, Risch and Cassidy Urge Administration to Meet Domestic Mineral Demand, Address Supply
Chain Crisis (senate.gov)
).
Nickel and the other battery materials join rare earths as the only Critical
Minerals eligible for DPA Title III support.
Henri van Rooyen, CEO of Talon said:
"President Biden's action today makes clear that there is a
bipartisan consensus that the battery material supply chain, from mine to recycling, is a national
priority."
Van Rooyen continued:
"Building on the funding for EV battery material processing and recycling that
Congress included in the Bipartisan Infrastructure Bill, this action opens significant support for mining
operations, in addition to down-stream processing and battery recycling. Combined with other
government programs like the Critical Minerals Institute (CMI) at the Department of Energy,
technology and innovation funding from ARPA-e and the work of the U.S. Geological Survey, we are
now seeing an urgent 'whole of government' approach to addressing both the current U.S.
dependence on Russia and China for battery materials and the energy transition imperative."
Talon's Head of Climate Strategy Todd Malan commented:
"Talon is ready to work with the U.S.
Government to bring technology and fresh approaches to discovering and developing new domestic
high-grade nickel deposits like the Tamarack Nickel Project, address community concerns about
mining operations, and ensure "cradle to cradle" traceability for the infinitely recyclable materials that
we hope to produce in Aitkin County, Minnesota.
Working together, we can establish the U.S. as a
global leader in responsible mining, processing and recycling of battery materials."
Malan continued: "
Senators Murkowski and Manchin, along with many others in Congress, also
deserve credit for advocating and supporting this important step.
Climate change and geopolitical
strife has made it clear to Americans that a national response is required.
Addressing these dual
imperatives will require more domestic and allied sources of raw materials like nickel, cobalt, copper
and battery-grade iron if we are going to achieve these objectives.
We can do this with strong
environmental standards and permitting, meaningful consultation with Native American tribal
governments, partnerships with our colleagues in unions, and broad-based community engagement.
Hopefully, with a new sense of national purpose, all these objectives can be pursued with a sense of
urgency. We need to work together on these solutions at a faster pace than the dual threats of climate
change and supply chain insecurity."
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 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, (ii) following up
on additional high-grade nickel mineralization in the Tamarack Intrusive Complex, and (iii) exploring the
prospects for significant carbon storage in the ultra-mafic rocks that comprise the Tamarack Intrusive
Complex through carbon mineralization.
Talon has an agreement with Tesla Inc.
to supply it with 75,000
metric tonnes (165 million lbs) of nickel in concentrate (and certain by-products, including cobalt and
iron) from the Tamarack Nickel Project over an estimated six-year period once commercial production is
achieved. 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
/
Media Contact:
Todd Malan
1-(202)-714-8187
Investor Contact:
Sean Werger
1-(416)-500-9891
FORWARD-LOOKING STATEMENTS
This news release contains certain "forward-looking statements". All statements, other than statements
of historical fact that address activities, events or developments that the Company believes, expects or
anticipates will or may occur in the future are forward-looking statements. These forward-looking
statements reflect the current expectations or beliefs of the Company based on information currently
available to the Company. Such forward-looking statements include statements relating to the impact of
adding battery materials to the DPA, including support for mining operations and the Company working
with the U.S Government to progress the Tamarack Nickel Project, including ensuring "cradle to cradle"
traceability from the Tamarack Nickel Project.
Forward-looking statements are subject to significant
risks and uncertainties and other factors that could cause the actual results to differ materially from those
discussed in the forward-looking statements, and even if such actual results are realized or substantially
realized, there can be no assurance that they will have the expected consequences to, or effects on the
Company.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be
required by applicable securities laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent uncertainty therein.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/118817