Talisker Closes $9.15 Million Private Placement

Talisker Closes $9.15 Million Private

Placement

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UNITED STATES

NEWSWIRE SERVICES

OR FOR DISSEMINATION IN

THE UNITED STATES

/

TORONTO

,

Aug. 11, 2022

/CNW/ - Talisker Resources Ltd. ("

Talisker

" or the "

Company

") (TSX:

TSK) (OTCQB: TSKFF) is pleased to announce that it has closed the "best efforts" private

placement previously announced on

July 20, 2022

,

August 4, 2022

and

August 5, 2022

, raising total

gross proceeds of approximately

$9.15 million

(the "

Offering

"). In connection with the Offering, the

Company issued an aggregate of 28,398,000 units (the "

Units

") at a price of

$0.16

per Unit and

25,576,000 flow-through common shares (the "

FT Shares

", and together with the Units, the

"

Offered Securities

") of the Company at a price of

$0.18

per FT Share.

Each Unit consists of one common share of the Company (a "

Common Share

") and one common

share purchase warrant (a "

Warrant

"). Each Warrant entitles the holder thereof to purchase one

Common Share at an exercise price of

$0

.24 for a period of 2.5 years (30 months) from the date of

issuance. The FT Shares will qualify as "flow-through shares" within the meaning of the

Income Tax

Act

(

Canada

) (the "

Tax Act

").

An amount equal to the gross proceeds from the sale of the 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 Tax Act) (the "

Qualifying Expenditures

") related to

the Company's projects in

Canada

. The Qualifying Expenditures will be renounced by the Company

in favour of the subscribers of the FT Shares effective

December 31, 2022

. 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 LP and PI Financial Corp., as co-lead

agents, on behalf of a syndicate of agents that included Eight Capital and 3L Capital (collectively, the

"

Agents

"). In connection with the Offering, the Company paid the Agents cash commission of 8.0%

of the gross proceeds of the Offering, excluding gross proceeds from the sale of Offered Securities

to certain purchasers on the President's List or as agreed upon between the Company and the

Agents. The Agents also received, in connection with certain advisory services provided by the

Agents in connection with the Offering, cash advisory fees of

$19,040

.

The Offered Securities issued pursuant to the Offering, including the Common Shares and Warrants

comprising the Units, 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 two advanced stage projects, the

Bralorne Gold Complex and the Ladner Gold Project, both advanced stage projects with significant

exploration potential from historical high-grade producing gold mines, 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 304,931 hectares over 500

claims, three leases and 197 crown grant claims, Talisker is a dominant exploration player in south-

central

British Columbia

.

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. In particular, this press release contains forward-looking information relating to,

among other things, the intended use of proceeds and receipt of all necessary regulatory approvals.

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.

SOURCE

Talisker Resources Ltd

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For further information:

Terry Harbort, President and CEO, [email protected],

+1 416 361 2808; Matt Filgate, Vice President, Corporate Development,

[email protected], +1 778 679 3579

CO: Talisker Resources Ltd

CNW 11:12e 11-AUG-22