Talisker Announces Mining Contractor Mobilization and Initiation of Pre-operation Activities at the Bralorne Gold Project

Rhea-AI Summary

Talisker Resources (TSX: TSK, OTCQX: TSKFF) has announced significant progress in its operational activities at the Bralorne Gold Project in British Columbia. The company has completed its 2025 Mustang Mine Plan and conducted geotechnical mapping of the Mustang decline and historic 980 level. The Ground Control Management Plan submission is expected by January end.

Mining contractor mobilization is underway and scheduled for completion in late January. February will focus on pre-construction activities at the portal, including workshop upgrades, service re-establishment, and safety infrastructure installation. Development is set to begin in March at 6 meters per day, increasing to 12 meters per day by August. The first long hole stope drilling and blasting is planned for May, with development work targeting the Alhambra, BK, and BK9870 veins.

Positive

• Mining operations set to commence with clear timeline and operational plan
• Development rate planned to double from 6 to 12 meters per day by August
• Multiple mining veins targeted (Alhambra, BK, and BK9870)

Negative

• None.

TORONTO, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Talisker Resources Ltd. (“Talisker” or the “Company”) (TSX: TSK, OTCQX: TSKFF) is pleased to report on the advancement of ongoing operational activities at the Company’s 100% owned flagship Bralorne Gold Project located in British Columbia.

The 2025 Mustang Mine Plan has been completed and reviewed with the relevant inspectors from the British Columbia Ministry of Mines and Critical Minerals. The final mine plan will be submitted 10 days before the start of mining operations pursuant to regulatory requirements. Geotechnical mapping of the Mustang decline and historic 980 level was conducted during November and December with submission of the Ground Control Management Plan expected by the end of January. A ventilation audit was also conducted in December and the Mustang Ventilation Plan is expected to be completed by mid-January. Mobilization of the Mining Contractor (as defined below) is underway and is expected to be completed towards the end of January.

February will see pre-construction activities occurring at the portal, including additions to the workshop and storage units, the re-establishment of services (compressed air, water and power), some ground support rehabilitation, and installation of ventilation and safety infrastructure. Training of mine rescue personnel will also take place in February. Development is expected to begin in March at an advance rate of 6 metres per day on the Mustang 1060 Level, to complete the undercut of the first long hole mining stope, and on the 1075L, to access and complete the overcut of first stope and future mining zones. Development is planned to continue at 6 metres per day until August when it is planned to increase to 12 metres per day. Drilling and blasting of the first long hole stope is expected to take place in May with remaining production from development. Development will be undertaken on the Alhambra, BK and BK9870 veins.

Terry Harbort, CEO of Talisker stated, “The onsite team has done a great job in preparing all of the necessary requirements to restart mining activities at the Bralorne Gold Project. We look forward to providing updates as we progress development activities.”

For further information, please contact:

Terry Harbort President and CEO terry.harbort@taliskerresources.com +1 416 357 0227

Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Leonardo de Souza (BSc, AusIMM (CP) Membership 224827), Talisker’s Vice President, Exploration and Resource Development, who is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Talisker Resources Ltd.

Talisker (taliskerresources.com) is a junior resource company involved in the exploration and development of gold projects in British Columbia, Canada. Talisker’s flagship asset is the high-grade, fully permitted Bralorne Gold Project where the Company is currently transitioning into underground production at the Mustang Mine. Talisker projects also include the Ladner Gold Project, an advanced stage project with significant exploration potential from an historical high-grade producing gold mine and the Spences Bridge Project where the Company holds ~85% of the emerging Spences Bridge Gold Belt, and several other early-stage Greenfields projects.

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 Company’s operational activities at the Bralorne Gold Project.   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. In particular, the Company advises that it does not have defined mineral reserves and it has not based its production decision on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.

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, development and operation 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.   Furthermore, historically, projects that are in production without defined mineral reserves have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved.

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.

Figure 1: Plan View showing Talisker’s Mustang Mine Year 1 Production Plan

Figure 2: Cross Section showing Talisker’s Mustang Mine Year 1 Production Plan

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/b81b876b-e623-4488-84f9-b8aaf2e31aa2

https://www.globenewswire.com/NewsRoom/AttachmentNg/ecf7d702-54bf-461e-9e16-fa4ce0e451b5

FAQ

When will Talisker Resources (TSKFF) begin mining operations at Bralorne Gold Project in 2025?

Development operations are scheduled to begin in March 2025, with the first long hole stope drilling and blasting planned for May 2025.

What is the planned development rate for Talisker's (TSKFF) Bralorne Gold Project?

The initial development rate will be 6 meters per day starting March 2025, increasing to 12 meters per day by August 2025.

Which veins will Talisker Resources (TSKFF) develop at the Bralorne Gold Project?

Development work will be undertaken on the Alhambra, BK, and BK9870 veins.

What pre-construction activities are planned for the Bralorne Gold Project in February 2025?

February pre-construction activities include workshop and storage unit additions, re-establishment of services (compressed air, water, power), ground support rehabilitation, and installation of ventilation and safety infrastructure.

When will Talisker (TSKFF) submit the final Mustang Mine Plan for the Bralorne Project?

The final mine plan will be submitted 10 days before the start of mining operations, as per regulatory requirements.