Talon Metals Reports More Drilling Success and Assays from Its Michigan Boulderdash Discovery

Rhea-AI Summary

Talon Metals (TLOFF) has announced significant drilling results from its Boulderdash discovery in Michigan's Upper Peninsula. The highlights include drill hole 24BD0003 intercepting 110.3 meters of nickel-copper mineralization at 9.54 meters depth, assaying 0.57% Ni and 0.50% Cu (2.24% CuEq, 0.88% NiEq), marking a 40% grade increase compared to the discovery hole.

Additionally, drill hole 24BD0008 revealed 154.25 meters of mineralization starting at 10.75 meters depth (0.48% Ni, 0.44% Cu) and 2.35 meters of massive sulphide mineralization at 182.11 meters depth, assaying 2.33% Ni and 2.95% Cu.

The Boulderdash site, located 8 miles northwest of the Eagle Nickel Mine, presents two exploration targets: a massive sulphide body at depth and a near-surface target. The company plans to explore lateral extensions and locate more high-grade massive sulphide mineralization after spring breakup.

Positive

• 40% grade increase in mineralization compared to discovery hole
• Shallow depth mineralization starting at just 9.54 meters
• High-grade massive sulphide discovery: 2.33% Ni and 2.95% Cu
• Strategic location 8 miles from the only operating US nickel mine

Negative

• None.

110.3 Meters of 2.24% CuEq (0.88% NiEq) Starting at a Depth of Only 9.54 Meters, and an Intercept of 2.35 Meters of 10.47% Copper Equivalent (4.13% NiEq)

Tamarack, Minnesota--(Newsfile Corp. - February 27, 2025) - Talon Metals Corp. (TSX: TLO) (OTC Pink: TLOFF) ("Talon" or the "Company") is pleased to announce additional assays from its Boulderdash discovery in Michigan's Upper Peninsula. Most notably, drill hole 24BD0003 intercepted 110.3 meters of nickel-copper sulphide mineralization beginning at 9.54 meters depth assaying 0.57% Ni and 0.50% Cu (2.24% CuEq, 0.88% NiEq), a 40% increase in grade compared to discovery drill hole 24BD0001 (see the Company's press release dated October 24, 2024).

Highlights

• New assays at Boulderdash confirm nickel and copper grades, including:

• Drill hole 24BD0003: 110.3 meters of nickel-copper mineralization starting at 9.54 meters depth assaying 0.57% Ni and 0.50% Cu (2.24% CuEq, 0.88% NiEq)

• Drill hole 24BD0008: 154.25 meters of nickel-copper mineralization starting at 10.75 meters depth assaying 0.48% Ni, 0.44% Cu (1.93% CuEq, 0.76% NiEq) and 2.35 meters of nickel-copper massive sulphide mineralization starting at 182.11 meters depth assaying 2.33% Ni, 2.95% Cu (10.47% CuEq, 4.13% NiEq)

• Boulderdash is situated just 8 miles northwest of the Eagle Nickel Mine, currently the only operating nickel mine in the U.S.

Table 1: Selected assays from 2024 drilling at the Boulderdash Discovery

Drill Hole (#)	From (m)	To (m)	Length (m)	Assay						NiEq (%)	CuEq (%)
				Ni (%)	Cu (%)	Co (%)	Pd (g/t)	Pt (g/t)	Au (g/t)
24BD0003	9.54	119.85	110.31	0.57	0.5	0.03	0.07	0.13	0.06	0.88	2.24
24BD0008	10.75	165	154.25	0.48	0.44	0.02	0.07	0.14	0.07	0.76	1.93
and	182.11	184.46	2.35	2.33	2.95	0.07	0.60	1.49	0.56	4.13	10.47

See Table 2 for further technical information

Figure 1: Photograph showing 2.35 meters of nickel-copper massive sulphide mineralization assaying 2.33% Ni and 2.95% Cu beginning at 182.11 meters depth in drill hole 24BD0008.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/242550_916a2eca0404a91f_001full.jpg

"Additional drilling at Boulderdash has generated longer and higher grade nickel-copper intercepts than discovery hole 24BD0001", said Brian Goldner, Talon's Chief Exploration Officer. Goldner continued, "Drill hole 24BD0008 intersected the first high-grade massive sulphide accumulation at a shallow depth of 182 meters. This exploration progression shows uncanny resemblance to the discovery history of the nearby Eagle nickel deposit which started with intercepts of net textured mineralization and progressed to massive sulphides before culminating in a deposit. As it stands, Boulderdash is now shaping up to have two exploration targets: a massive sulphide body at depth and a near-surface target starting at a depth of just 9 meters. Next steps are to explore for lateral extensions of the near-surface mineralization and to locate more of the high-grade massive sulphide mineralization".

These Boulderdash drill holes are located within the land package that is part of the earn-in agreement with UPX Minerals Inc. (a wholly-owned subsidiary of Sweetwater Royalties), whereby Talon has the right to acquire up to an 80% ownership interest in approximately 400,000 acres located in the Upper Peninsula of the State of Michigan.

2025 Boulderdash Exploration Work Plan

The Eagle and Eagle East deposits are being used as exploration models due to their (i) proximity (only 8 miles away), and (ii) geologic similarities. The model is a near vertical dike with net textured mineralization above leading downward to sub horizontal massive sulphide sheets intruding into the metasediment rocks.

Talon's 2025 Boulderdash exploration work plan will focus on two exploration pathways, lateral extension of the near-surface mineralization and progressive exploration down the dike at depth. It is expected that Talon's in-house drilling and geophysics teams will be focused on this work after spring breakup. Talon is currently drilling at the Tamarack Nickel Project with three in house drill rigs to complete some infill drilling prior to mobilizing the drill rigs to Boulderdash.

Figure 2: View of drill holes drilled at Boulderdash, looking north-east, displaying %CuEq values for assay intervals greater than 0.5% CuEq.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/242550_916a2eca0404a91f_002full.jpg

Figure 3: Map showing location of Boulderdash and its proximity to the Eagle Mine.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/242550_916a2eca0404a91f_003full.jpg

QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSON

Nickel, copper, and cobalt grades were first analyzed by a 4-acid digestion and ICP AES (ME-MS61). Grades reporting greater than 0.25% Ni and/or 0.1% Cu, using ME-MS61, trigger a sodium peroxide fusion with ICP-AES finish (ICP81). Platinum, palladium and gold are initially analyzed by a 50g fire assay with an ICP-MS finish (PGM-MS24). Any samples reporting >1g/t Pt or Pd trigger an over-limit analysis by ICP-AES finish (PGM-ICP27) and any samples reporting >1g/t Au trigger an over-limit analysis by AAS (Au-AA26). The laboratory used is ALS Minerals who is independent of the Company.

Lengths are drill intersections and not necessarily true widths. True widths cannot be calculated at this time due to the unknown geometry of the mineralization. Drill intersections have been independently selected by Talon. Drill composites have been independently calculated by Talon. The geological interpretations in this news release are solely those of the Company. The locations and distances highlighted on all maps in this news release are approximate.

Dr. Etienne Dinel, Vice President, Geology of Talon, is a Qualified Person within the meaning of NI 43-101. Dr. Dinel is satisfied that the analytical and testing procedures used are standard industry operating procedures and methodologies, and he has reviewed, approved and verified the technical information disclosed in this news release, including sampling, analytical and test data underlying the technical information.

Where used in this news release:

NiEq% = Ni% + Cu% x $3.75/$9.50 + Co% x $25.00/$9.50 + Pt [g/t]/31.103 x $1,000/$9.50/22.04 + Pd [g/t]/31.103 x $1,000/$9.50/22.04 + Au [g/t]/31.103 x $1,400/$9.50/22.04

CuEq% = Cu%+ Ni% x $9.50/$3.75 + Co% x $25.00/$3. + Pt [g/t]/31.103 x $1,000/$3.75/22.04 + Pd [g/t]/31.103 x $1,000/$3.75/22.04 + Au [g/t]/31.103 x $1,400/$3.75/22.04

ABOUT TALON

Talon is a TSX-listed base metals company in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota. Talon's shares are also traded in the US over the OTC market under the symbol TLOFF. The Tamarack Nickel Project comprises a large land position (18km of strike length) with additional high-grade intercepts outside the current resource area. Talon has an earn-in right to acquire up to 60% of the Tamarack Nickel Project, and currently owns 51%. Talon is focused on (i) expanding and infilling its current high-grade nickel mineralization resource prepared in accordance with NI 43-101 to shape a mine plan for submission to Minnesota regulators, and (ii) following up on additional high-grade nickel mineralization in the Tamarack Intrusive Complex. Talon has a neutrality and workforce development agreement in place with the United Steelworkers union. Talon's Battery Mineral Processing Facility in Mercer County was selected by the US Department of Energy for US$114.8 million funding grant from the Bipartisan Infrastructure Law and the US Department of Defense awarded Talon a grant of US$20.6 million to support and accelerate Talon's exploration efforts in both Minnesota and Michigan. Talon has well-qualified experienced exploration, mine development, external affairs and mine permitting teams.

For additional information on Talon, please visit the Company's website at www.talonmetals.com or contact:

Media Contact:

Cody Mayer
(218) 460-9968
Mayer@talonmetals.com

Investor Contact:

Mike Kicis
1 (647) 968-0060
Kicis@talonmetals.com

FORWARD-LOOKING STATEMENTS

This news release contains certain "forward-looking statements". All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Such forward-looking statements include statements relating to future exploration work. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company.

Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Table 2: Michigan Boulderdash Assay Results

Drill Hole	From	To	Length	Assay						NiEq (%)	CuEq (%)
(#)	(m)	(m)	(m)	Ni (%)	Cu (%)	Co (%)	Pd (g/t)	Pt (g/t)	Au (g/t)
24BD0002	10	30.5	20.50	0.43	0.40	0.02	0.06	0.11	0.05	0.67	1.71
24BD0003	9.54	119.85	110.31	0.57	0.5	0.03	0.07	0.13	0.06	0.88	2.24
including	22	79	57	0.76	0.7	0.03	0.1	0.17	0.08	1.18	2.99
including	38.92	52.4	13.48	1.05	0.9	0.04	0.12	0.2	0.09	1.59	4.02
including	67.63	73.48	5.85	1.16	1.32	0.04	0.17	0.31	0.16	1.9	4.83
24BD0004	13.19	75.1	61.91	0.51	0.44	0.02	0.06	0.12	0.05	0.78	1.99
including	27.5	33.77	6.27	1.22	0.98	0.05	0.13	0.20	0.08	1.80	4.56
and	171.39	174.5	3.11	0.37	0.17	0.02	0.09	0.14	0.03	0.52	1.32
and	243.87	247.65	3.78	0.55	0.66	0.02	0.15	0.22	0.07	0.94	2.39
24BD0005	48.35	67.49	19.14	0.38	0.30	0.02	0.04	0.09	0.03	0.58	1.47
and	72.42	75.86	3.44	0.41	0.32	0.02	0.04	0.10	0.04	0.63	1.59
24BD0006	89.5	131.28	41.78	0.68	0.49	0.03	0.07	0.16	0.05	1.00	2.54
including	102.64	118.69	16.05	1.16	0.80	0.05	0.10	0.24	0.07	1.69	4.28
24BD0007	92	101.69	9.69	0.32	0.27	0.02	0.04	0.10	0.03	0.50	1.27
and	125.5	136.43	10.93	0.48	0.44	0.02	0.09	0.17	0.06	0.78	1.96
24BD0008	10.75	165	154.25	0.48	0.44	0.02	0.07	0.14	0.07	0.76	1.93
including	67.4	72.45	5.05	1.08	1.20	0.04	0.12	0.23	0.51	1.82	4.61
including	97.59	105.72	8.13	1.13	0.70	0.05	0.09	0.26	0.06	1.60	4.06
and	182.11	184.46	2.35	2.33	2.95	0.07	0.60	1.49	0.56	4.13	10.47
and	189.43	190.08	0.65	0.72	1.25	0.04	0.83	0.48	0.52	1.61	4.09

Length refers to drill hole length and not True Width.
True Width is unknown at the time of publication.
All samples were analyzed by ALS Minerals. Nickel, copper, and cobalt grades were first analyzed by a 4-acid digestion and ICP AES (ME-MS61). Grades reporting greater than 0.25% Ni and/or 0.1% Cu, using ME-MS61, trigger a sodium peroxide fusion with ICP-AES finish (ICP81). Platinum, palladium, and gold are initially analyzed by a 50g fire assay with an ICP-MS finish (PGM-MS24). Any samples reporting >1g/t Pt or Pd trigger an over-limit analysis by ICP-AES finish (PGM-ICP27) and any samples reporting >1g/t Au trigger an over-limit analysis by AAS (Au-AA26).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242550

FAQ

What are the latest drilling results from Talon Metals' (TLOFF) Boulderdash discovery?

Drill hole 24BD0003 intercepted 110.3 meters of 2.24% CuEq mineralization at 9.54m depth, while hole 24BD0008 found 154.25 meters of 1.93% CuEq and 2.35 meters of 10.47% CuEq massive sulphide.

How does the new Boulderdash mineralization compare to the initial discovery hole TLOFF reported?

The new results show a 40% increase in grade compared to the initial discovery hole 24BD0001.

What are the two main exploration targets at TLOFF's Boulderdash site?

The two targets are a massive sulphide body at depth and a near-surface target starting at just 9 meters depth.

What is Talon Metals' (TLOFF) exploration plan for Boulderdash in 2025?

After spring breakup, Talon plans to explore lateral extensions of near-surface mineralization and progressive exploration down the dike at depth.

Where is TLOFF's Boulderdash discovery located and what is its strategic significance?

Boulderdash is located in Michigan's Upper Peninsula, just 8 miles northwest of the Eagle Nickel Mine, currently the only operating nickel mine in the US.