TALON METAL CORP - TLOFF STOCK NEWS

Talon Metals has been awarded a US$2.47 million research and development contract from the Defense Logistics Agency (DLA) to fund scientific research on new approaches for extracting nickel, cobalt, and iron from domestic nickel sulphide ores and tailings. The 15-month project will focus on the Tamarack Nickel Project, which includes a proposed underground nickel-copper mine in Minnesota and a Battery Mineral Processing Facility in North Dakota.

The research aims to develop novel extraction technologies in collaboration with Argonne National Laboratory and Columbia Electrochemical Energy Center. The project will study sulphuric acid and sodium hydroxide recycling technologies, hydrometallurgical precipitation, and Reductive Leach with Electrochemical Reagent Regeneration Technology. The initiative targets producing U.S. nickel for battery materials while reducing process waste and enhancing value recovery.

Talon Metals announces leadership changes effective January 1, 2025. Mike Kicis, current Chief Legal Officer, will succeed Sean Werger as President. Werger is stepping down to become Chief Operating Officer at a Toronto charitable organization but will join Talon's Board of Directors. Kicis, who has been with Talon since 2013, has been instrumental in key partnerships with Rio Tinto, Sweetwater Royalties, Tesla, and securing grants from the US Department of Energy and Defense. The company emphasizes this transition will be seamless, maintaining continuity in leadership while positioning Talon for its next growth phase.

Talon Metals reports significant copper-nickel mineralization from three drill holes at its Boulderdash target in Michigan's Upper Peninsula. Notable findings include a 110.3-meter mineralized interval from 9.59 meters depth in hole 24BD0003, and multiple mineralized intervals in hole 24BD0004, including a 61.91-meter section with 3-25% sulphides. The discovery of copper-nickel massive sulphide rip-up clasts and veins suggests the presence of a larger copper-nickel massive sulphide body. The mineralized dyke appears to be 40-50 meters wide, similar to Michigan's Eagle nickel-copper deposit.

Talon Metals reported financial results for Q3 2024, showing a net loss of $0.6 million compared to $0.5 million in Q3 2023. The nine-month loss was $1.6 million, slightly improved from $1.7 million in the previous year. The company recorded a $3.7 million credit in capitalized exploration costs for the Tamarack Nickel-Copper-Cobalt Project, primarily due to a $10.5 million royalty sale. Total capitalized exploration costs for the Tamarack project reached $213.2 million by September 30, 2024.

Talon Metals has made a significant copper-nickel discovery at its Boulderdash target in Michigan's Upper Peninsula. The maiden drill hole intercepted 99.92 meters of mineralization starting at just 9.14 meters depth, including 48.00 meters grading 2.11% Copper Equivalent. The discovery site is located 8 miles northwest of the Eagle Nickel Mine, the only operating nickel mine in the U.S. The target was identified through field prospecting and geophysical techniques, tracing mineralized boulders to their source. This discovery is part of Talon's option agreement with UPX Minerals to acquire up to 80% ownership interest in approximately 400,000 acres of mineral rights in Michigan.

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.