TALON METAL CORP - TLOFF STOCK NEWS

Talon Metals Corp. (TSX: TLO) reported its financial results for Q2 2024. The company experienced a net loss of $0.7 million for the quarter ended June 30, 2024, compared to a $0.6 million loss in the same period of 2023. For the six-month period, the net loss was $1.0 million, down from $1.2 million in the previous year. Capitalized exploration and development costs for the Tamarack Nickel-Copper-Cobalt Project amounted to $6.1 million for Q2 2024, a decrease from $10.7 million in Q2 2023. The total capitalized exploration cost for the project reached $219.9 million as of June 30, 2024. The company's financial statements and Management's Discussion and Analysis are available on SEDAR+.

Talon Metals Corp. (TSX: TLO) has announced a partnership with Circulor to implement traceability technology for its nickel production. This collaboration aims to ensure that Talon's minerals, including nickel, copper, and other by-products, are traceable throughout the supply chain from mine to recycling.

The partnership addresses growing concerns over responsible sourcing in the EV battery industry, particularly in light of recent issues with nickel production in Indonesia. By using Circulor's technology, Talon can provide verifiable records of its high production standards in the United States, meeting requirements for various regulations including the EU's Battery Regulation and the US IRA.

This initiative supports the development of a secure domestic supply chain for critical minerals and positions Talon's production to meet stringent international standards. The traceability system will also contribute to future recycling efforts by ensuring that the provenance and production standards of minerals can be traced throughout their lifecycle.

Talon Metals has announced a royalty agreement with Triple Flag Precious Metals for US$8 million. Talon Nickel, a subsidiary of Talon Metals, has granted an additional 1.67% net smelter returns royalty on its interest in the Tamarack Project. The proceeds from this transaction will be used to advance the Tamarack Nickel Project in Minnesota and the Michigan Nickel-Copper Project, as well as for general working capital. Talon has also issued 8 million common share purchase warrants, exercisable at C$0.20 per share for two years. Talon retains a buy-back right to reduce the new royalty to 1.0% for US$5 million within two years. Triple Flag can increase the royalty by 0.50% if Talon's cash balance drops below US$2 million and remains so for 60 days.

Talon Metals Corp. (TSX: TLOFF) announced the results of its annual and special meeting of shareholders held on June 27, 2024. All nominee directors listed in the May 15, 2024 management information circular were elected. Notably, David L. Deisley received 99.74% of votes, and Arne H. Frandsen and John D. Kaplan each received 96.55%. Additionally, MNP LLP was appointed as auditors for the year, and shareholders authorized a potential consolidation of common shares at a ratio of up to 1-for-10, though the directors have not yet decided to proceed. The consolidation must also gain approval from the Toronto Stock Exchange.

Talon Metals has commenced mineral exploration drilling in Michigan's Upper Peninsula, aligning with its 2024 exploration plan. This initiative follows an option and earn-in agreement with UPX Minerals to potentially acquire up to 80% of mineral rights over approximately 400,000 acres. Talon's exploration targets are in proximity to the high-grade Eagle Nickel Mine. Initial geophysical work began in May 2024, with drilling now active at the Roland Target. Historical data suggests high-grade nickel and copper potential, similar to Eagle Mine and Tamarack Nickel Project. Notably, the US Department of Defense is funding nearly 50% of Talon's Michigan exploration costs, contributing $20.6 million. The dual exploration efforts in Michigan and Minnesota aim to maximize resource potential, operational efficiency, and diversification. Talon is also engaging local communities and tribal governments, emphasizing responsible exploration and data sharing.

Talon Metals Corp. (TSX: TLO, OTC: TLOFF), the majority owner and operator of the Tamarack Nickel-Copper-Cobalt Project in Minnesota, announces a significant extension of nickel-copper mineralization in the Raptor Zone by 110 meters. The company successfully intersected 8.91 meters of nickel mineralization, including 1.77 meters of massive sulphide mineralization in drill hole 24TK0505. This expansion increases the strike from 250 to 350 meters, and mineralization remains open in all directions. Talon remains committed to continued exploration throughout 2024, leveraging advanced geophysical technologies and software from Novaminex to identify additional high-grade deposits.

Talon Metals announced a significant discovery at the Tamarack Nickel Project in Minnesota, uncovering a new high-grade area named 'CGO East Waterfall'.

Key highlights include intercepts from drill hole 24TK0503 with 4.81 meters grading 4.89% Ni, 4.10% Cu, 0.06% Co, and notable PGE values of 17.45 g/t Pd+Pt+Au (9.26% NiEq). Another intercept in the same hole spans 79.22 meters at 0.80% NiEq. This new discovery, located 120 meters below CGO East, closely resembles the previously identified CGO West Waterfall, showing substantial geological similarities.

The company plans to utilize borehole EM technology for deeper exploration and further drilling in 2024 to probe the extent of these high-grade sulphides.

According to Talon’s COO and Chief Exploration Officer, Brian Goldner, these findings could indicate the early discovery stages of a large, consolidated massive sulphide body. This discovery could positively impact the economics of the Tamarack Nickel Project.

Talon Metals (TSX: TLO) reported net losses of $0.3 million for Q1 2024, primarily due to administrative expenses offset by foreign currency gains. This marks an improvement from the $0.6 million net loss in Q1 2023. Capitalized exploration and development costs for the Tamarack Nickel-Copper-Cobalt Project amounted to $6.8 million in Q1 2024, down from $11.7 million in the same period of 2023. As of March 31, 2024, the total capitalized costs for the Tamarack project reached $211.7 million. Full financial statements and management's discussion are available on SEDAR+.

Talon Metals Corp. reports significant progress in its 2024 exploration plan, focusing on the Raptor Zone at the Tamarack Nickel-Copper-Cobalt Project. 14 new drill holes intersect nickel-copper mineralization, with one hole identifying a strong electromagnetic anomaly, indicating potential for high-grade mineralization. A thick nickel accumulation channel has been discovered, with continuous mineralization extending over 4 km x 2 km. The Raptor Zone shows promise for multiple channels of mineralization. Talon remains committed to advancing exploration efforts to unlock the full value of this zone.