Exploration team identifies new high-grade nickel mineralization to be called the “Raptor Zone”, intersecting high-grade nickel in first 6 out of 9 holes nearly 2 miles from the current resource area

Tamarack, Minnesota (January 19, 2023) – Talon Metals Corp. (“Talon” or the “Company”) (TSX:TLO/OTC:TLOFF), the majority owner and operator of the Tamarack Nickel-Copper-Cobalt Project (“Tamarack Nickel Project”) in central Minnesota, has successfully intercepted new high-grade nickel-copper mineralization nearly 2 miles (3.2 km) outside of the current nickel-copper resource area. Talon believes it has confirmed a brand new “system” of high-grade nickel-copper mineralization within the Tamarack Intrusive Complex.

Brian Goldner, Chief Exploration and Operations Officer of Talon said: “New drilling shows us that the Tamarack Intrusive Complex can be a district-scale nickel-copper resource right here in the United States. We’ve moved nearly 2 miles outside of the Company’s current nickel-copper resource area and successfully intercepted high-grade nickel-copper in a different intrusion (new system) as compared to the current resource area. While still early in the process, these preliminary results provide definitive evidence that the Tamarack Intrusive Complex has district-scale potential, and as a consequence of these exciting initial results, we intend to make further exploration along the Tamarack Intrusive Complex a priority in 2023.”



Goldner continued: “Last year’s discovery of the shallow high-grade nickel mineralization in the CGO West area started with only a small 1.3-meter intercept of high-grade nickel massive sulphide – that mineralization ultimately grew to nearly 14 meters thick only 25 meters away. I expect this same thickening could occur in the new area called the “Raptor Zone”, especially with the amount of unexplored space we have to work with.”



Todd Malan, Chief External Affairs Officer and Head of Climate Strategy at Talon added: “The prospect that the United States may host more high-grade nickel mineralization within its domestic mineral endowment is very timely. In the last year, over $30 billion in investment has been committed for new nickel battery manufacturing in the US. We have more exploration drilling to undertake with our in-house team to understand if these new areas have a resource that is of the size and quality to represent an economic and mineable resource, but these results show where we need to target our drilling teams. America is currently dependent on foreign sources of battery grade nickel. If we can find more high-grade nickel in the US, we can start to reduce our dependency on China, Russia and Indonesia for nickel and other battery minerals.”

The potential for additional high-grade nickel-copper mineralization within the 11-mile-long Tamarack Intrusive Complex has been recognized by Talon for some time. Talon’s primary focus to date has been the discovery and delineation of the Main Zone, the CGO West area and the CGO East area (collectively referred to as the “Company’s nickel-copper resource area”). To accomplish this growth, Talon spent the past 2 years building a complete in-house exploration team, incorporating among other things, a fleet of five Talon-owned and staffed drill rigs, along with precision borehole and surface geophysical guidance equipment. With the advancement of the delineation work, Talon’s in-house team has now been tasked with evaluating the exploration upside over the entire length of the 11-mile-long Tamarack Intrusive Complex starting at the northern end of the complex where the “Raptor Zone” has been identified. The name “Raptor” has been chosen given the resemblance to the iconic predator’s profile that shows up in the magnetic survey (see Figure 2).

Since September 2022, Talon has completed 9 new drill holes outside of the Company’s nickel-copper resource area, 6 of which have already intersected high-grade nickel-copper mineralization. These intercepts occur in 2 new areas of mineralization within the larger “Raptor Zone”, including the “Raptor’s Crest” (previously referred to as the 264 Zone) located approximately 1.8 miles (3 km) north of the Company’s nickel-copper resource area and the “Raptor’s Head” (previously referred to as the 221 Zone) located approximately 1 mile (1.6 km) north of the Company’s nickel-copper resource area (see Figure 2). These two areas (Raptor’s Crest and Raptor’s Head) have very limited historic drilling, but assays do include high-grade nickel massive sulphide intercepts of up to 9.95% Ni[1] and 9.33% Ni[2] within these respective zones. Of note, in between the drill holes lie 1-mile (1.6 km) of ground that has never been drilled and therefore, this ground represents a high priority exploration target for the Company in 2023, given that it is bookended with high-grade nickel massive sulphide intercepts on both sides.

[1] For further technical information on drill hole 18TK0264, please see the Company’s press release dated June 21, 2018.

[2] For further technical information on drill hole 15TK0229, please see the Company’s press release dated September 1, 2015.

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