Talisker Closes $23 Million Bought Deal Private Placement

Talisker Closes $23 Million Bought Deal

Private Placement

/NOT FOR DISTRIBUTION TO

UNITED STATES

NEWSWIRE SERVICES OR FOR

DISSEMINATION IN

THE UNITED STATES

/

TORONTO

,

Aug. 13, 2020

/CNW/ - Talisker Resources Ltd. ("

Talisker

" or the "

Company

") (CSE:

TSK) (OTCQX: TSKFF) is pleased to announce that it has closed the bought deal private placement

initially announced on

July 22, 2020

for total gross proceeds of

$23 million

(the "

Offering

"). In

connection with the Offering, the Company issued an aggregate of 28,260,870 units (the "

Units

") at

a price of

$0.46

per Unit and 15,625,000 charity flow-through share units (the "

FT Units

") of the

Company at a price of

$0.64

per FT Unit.

Each Unit and FT Unit is comprised of one common share of the Company (a "

Common Share

")

and one-half of one common share purchase warrant (each whole warrant, a "

Warrant

"). Each

Warrant entitles the holder thereof to purchase one common share at an exercise price of

$0.70

until

August 13, 2021

. The Common Shares comprising part of the FT Units will qualify as "flow-through

shares" within the meaning of the

Income Tax Act

(

Canada

).

The gross proceeds from the sale of FT Units 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 FT Units effective

December 31, 2020

. The net proceeds from the sale of the

Units will be used by the Company for working capital and general corporate purposes.

The Offering was conducted by Sprott Capital Partners and PI Financial Corp. as co-lead

underwriters and co-bookrunners (collectively, the "

Underwriters

"). In connection with the Offering,

the Company paid the Underwriters a cash commission of 6.0% of the gross proceeds of the

Offering.

The Common Shares and Warrants comprising the Units and FT Units issued pursuant to the

Offering, and any Common Shares issued upon the exercise of the Warrants, are subject to a four

month hold period pursuant to applicable securities laws.

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

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 (

taliskerresources.com

) 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 producing

gold 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 291,339 hectares over 322 claims, six leases and 181 crown grant claims, Talisker is a

dominant exploration player in the south-central

British Columbia

. The Company is well funded to

advance its aggressive systematic exploration program at its projects.

Caution Regarding Forward Looking Statements

Certain statements contained in this press release constitute forward-looking information. These

statements relate to future events or future performance. The use of any of the words "could",

"intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements

relating to matters that are not historical facts are intended to identify forward-looking information

and are based on Talisker's current belief or assumptions as to the outcome and timing of such

future events. Actual future results may differ materially. In particular, this release contains forward-

looking information relating to, among other things, the use of proceeds from the Offering and the

listing of the common shares of Talisker on the CSE. Various assumptions or factors are typically

applied in drawing conclusions or making the forecasts or projections set out in forward-looking

information. Those assumptions and factors are based on information currently available to Talisker.

Although such statements are based on reasonable assumptions of Talisker's management, there

can be no assurance that any conclusions or forecasts will prove to be accurate.

Forward looking information involves known and unknown risks, uncertainties and other factors which

may cause the actual results, performance or achievements to be materially different from any future

results, performance or achievements expressed or implied by the forward-looking information. Such

factors include risks inherent in the exploration and development of mineral deposits, including risks

relating to changes in project parameters as plans continue to be redefined, risks relating to

variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide

demand for and supply of minerals, risks related to increased competition and current global

financial conditions, access and supply risks, reliance on key personnel, operational risks regulatory

risks, including risks relating to the acquisition of the necessary licenses and permits, financing,

capitalization and liquidity risks, title and environmental risks and risks relating to the failure to

receive all requisite shareholder and regulatory approvals.

The forward-looking information contained in this release is made as of the date hereof, and Talisker

is not obligated to update or revise any forward-looking information, whether as a result of new

information, future events or otherwise, except as required by applicable securities laws. Because of

the risks, uncertainties and assumptions contained herein, investors should not place undue reliance

on forward-looking information. The foregoing statements expressly qualify any forward-looking

information contained herein.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the

CSE) accepts responsibility for the adequacy or accuracy of this release. No stock exchange,

securities commission or other regulatory authority has approved or disapproved the information

contained herein.

SOURCE

Talisker Resources Ltd

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http://www.newswire.ca/en/releases/archive/August2020/13/c3343.html

%SEDAR: 00005798E

For further information:

Terry Harbort, Chief Executive Officer,

[email protected], +1 416 361 2808

CO: Talisker Resources Ltd

CNW 10:23e 13-AUG-20