TSK.TO · 2020-01-07 12:00:00

Talisker Announces $10 Million Bought Deal Private Placement

Financings

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Toronto, Ontario, Canada M5X 1A0

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Talisker Announces $10 Million Bought Deal Private Placement

Toronto, Ontario, January 7, 2020 - Talisker Resources Ltd. (" Talisker" or the " Company")

(CSE:TSK | OTCQB:TSKFF) is pleased to announce that it has entered into an agreement with a

syndicate of underwriters led by PI Financial Corp, pursuant to which the underwriters have

agreed to purchase 6,060,600 common shares (the “ Shares”) and 16,161,600 charity flow -

through shares (the “ Charity FT Shares”), which the Charity FT Shares will qualify as “flow -

through shares” within the meaning of the Income Tax Act (Canada), on a bought deal private

placement basis (the “Offering”).

The Shares will be sold at a price of $0.33 per Share (the “Offering Price”) and the Charity FT

Shares will be sold at a price of $0.495 per Charity FT Share (the “Charity FT Offering Price”),

for aggregate gross proceeds of $10.0 million.

The Company has also granted the underwriters an option to cover over -allotments (the

“Underwriters’ Option”), which will allow the underwriters to offer up to an additional 15% of the

Offering, on the same terms as the Shares and Charity FT Shares. The Underwriters’ Option may

be exercised in whole or in part at any time prior to the closing date of the Offering.

The gross proceeds from the sale of Charity FT Shares will be used by the Company to incur

eligible "Canadian exploration expenses" that will qualify as "flow- through mining expenditures"

as such terms are defined in the Income Tax Act (Canada) (the " Qualifying Expenditures")

related to the Company's projects in Canada. All Qualifying Expenditures will be renounced in

favour of the subscribers of the Charity FT Shares effective December 31, 2020. The net proceeds

from the sale of the Shares will be used by the Company for working capital and general corporate

purposes.

The Offering is expected to close on or about February 4, 2020, or such other date as agreed

between the Company and the underwriters, and is subject to certain conditions including, but not

limited to, the receipt of all necessary regulatory and other approvals including the approval of the

CSE.

The Company has agreed to pay a cash commission of 5.0% of the gross proceeds of the Offering

and will issue to the Underwriters compensation warrants (the “Compensation Warrants”) equal

to 2.0% of the number of Shares and Charity FT Shares offered, other than in respect of a

maximum of C$0.5 million in aggregate proceeds of Shares and Charity FT Shares issued to

certain purchasers under a president’s list, in which case the cash fee in respect shall be equal

to 4.0% of the aggregate proceeds of Shares and Charity FT Shares issued to purchasers on the

president’s list and the Compensation Warrants will be equal to 1 .0% of the number of Shares

and Charity FT Shares offered. The Compensation Warrants will be exercisable into common

shares of the Company at a p rice per Compensation Warrant equal to the Offering Price for a

period of 24 months from the closing of the Offering.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the

securities in the United States. The securities have not been and will not be registered under the

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United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”) or any state

securities laws and may not be offered or sold within the United States or to U.S. Persons unless

registered under the U.S. Securities Act and applicable state securities laws or an exemption from

such registration is available.

About Talisker Resources Ltd.

Talisker Resources Ltd. is a junior resource company involved in the exploration of gold projects

in British Columbia, Canada. Talisker's projects include the Bralorne Gold Complex, an advanced

stage project with significant exploration potential from a historical high grade gold producing mine

as well as its Spences Bridge Project where the Company holds ~85% of the emerging Spences

Bridge Gold Belt and several other early stage Greenfields projects. With its properties comprising

271,132 hectares over 286 claims, three leases and 154 crown grant claims, Talisker is the

dominant exploration player in the south central British Columbia. The Company is well funded to

advance its aggressive systematic exploration program at its projects.

For further information please contact Terry Harbort, Chief Executive Officer of Talisker, at

[email protected].