Talon Metals - TLOFF STOCK NEWS

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.

Talon Metals Corp. provides a progress update on its activities, including permitting updates for an underground mine in central Minnesota and the relocation of mineral processing to North Dakota.

Talon Metals Corp. commences geophysical program in Michigan with drilling planned for May, funded by the US Department of Defense. The 2024 exploration plan includes a 30,000-meter drill program and in-house geophysics to expand resources in Minnesota and test high-grade nickel targets in Michigan. The company aims to increase mine life and improve overall economics at the Tamarack Nickel Project. Talon's exploration activities in Michigan leverage a private land package with untapped potential for high-grade nickel discoveries.

Talon Metals Corp. reports a net loss of $2.3 million for the year ended December 31, 2023, primarily due to administration expenses. Capitalized exploration costs on the Tamarack Nickel-Copper-Cobalt Project amounted to $44.2 million in 2023, compared to $52.9 million in 2022.