Drill hole 25TK0563 Intercepted 8.85 Meters of Mineralization Starting at 774.40 meters, Grading 9.60% Ni, 12.65% Cu, 0.09% Co, 11.44g/t Pd+Pt and 11.12 g/t Au (20.96% NiEq or 41.43% CuEq)

Step-Out Drilling Further Confirms Massive Sulphide Continuity and Intercepts Mixed Massive Sulphides Approximately 79 Meters Below the Tamarack Resource Area

Tamarack, Minnesota – February 4, 2026 – Talon Metals Corp. (TSX:TLO/OTC:TLOFD) (“Talon” or the “Company”) is pleased to report successful step-out drill holes in the Vault Zone of the Tamarack Nickel-Copper-Cobalt Project in Minnesota (the “Tamarack Nickel-Copper Project”), as well as new assay results.

As outlined in the Company’s June 5, 2025 press release, drill hole 25TK0563 intercepted a combined 34.9 meters of Massive Sulphide Unit (“MSU”) mineralization grading 28.88% NiEq and 57.76% CuEq starting at 762.34 meters. Talon is pleased to report that drill hole 25TK0563B, drilled 16 meters to the northwest of drill hole 25TK0563, intercepted 8.85 meters of MSU starting at 774.40 meters, which assayed 9.60% Ni, 12.65% Cu, 0.09% Co, 11.44g/t Pd+Pt and 11.12 g/t Au (20.96% NiEq or 41.43% CuEq) with full results as follows in Table 1.

New drill hole 25TK0563C, drilled 16 meters to the southwest of drill hole 25TK0563, intercepted 8.26 meters of MSU and Mixed Massive Sulphides (“MMS”) (assays pending) at the same stratigraphic horizon as the upper part of drill hole 25TK0563 and at a similar depth to drill hole 25TK0563B, starting at 773.95 meters (see Figure 2).

As outlined in the Company’s December 11, 2025 press release, drill hole 25TK0565, located 103 meters below drill hole 12TK0153C (see the November 2022 Technical Report for further details on drill hole 12TK0153C) within the Tamarack Resource Area, intercepted 19.11 meters of MMS grading 6.39% NiEq (11.67% CuEq) starting at 670.00 meters, and 3.22 meters grading 9.90% NiEq (17.40% CuEq) starting at 703.65 meters (see Figure 3).

Talon is pleased to announce that new drill hole 25TK0567, located 79 meters below drill hole 12TK0153C within the Tamarack Resource Area intercepted a total of 35 meters of MMS starting at 645.26 meters (assays pending) (see Figure 4), located 27 meters above the MMS intercepted in drill hole 25TK0565.

Borehole Electromagnetic (“BHEM”) data continues to indicate high conductivity at multiple levels where MSU and MMS mineralization has been intercepted. Talon’s three in-house drill rigs are actively drilling the Vault Zone with the goal of continuing to expand mineralization.

“With the transaction with Lundin Mining now complete, our combined team is positioned to advance our four strategic priorities in parallel working to materially extend the Eagle Mine life, accelerating exploration in Michigan and Minnesota, advancing permitting at the Tamarack Nickel-Copper Project and the Beulah Battery Minerals Processing Facility, and progressing engineering toward feasibility study and construction—at a time when it is vitally important to drive decisively toward U.S. critical minerals self-sufficiency,” said Darby Stacey, Talon’s new CEO.

“Our methodical approach of focusing on Borehole Electromagnetic anomalies coupled with precision drilling has continued to deliver success within the Vault Zone since the Talon drill rigs returned to the Tamarack Nickel-Copper Project. The new assay results continue to demonstrate the consistency and continuity of massive sulphide mineralization at the Vault Zone,” said Brian Goldner, Talon’s Chief Exploration Officer.

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QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSONS
The Talon sample preparation, security, and Quality Assurance (“QA”) / Quality Control (“QC”) protocols for the Tamarack Nickel-Copper Project are consistent with industry best practices and Canadian Institute of Mining, Metallurgy and Petroleum Mineral Exploration Best Practice Guidelines (November 2018).

Talon has implemented documented QA programs that incorporate written procedures, acceptable industry software, database organization, and standardized data presentation, all of which contribute to confidence in the integrity of the dataset. The QC protocol has been documented (see also the November 2022 Technical Report) and consistently applied since Talon’s involvement with the Tamarack Nickel-Copper Project.

The QA/QC program is based on the systematic insertion of certified reference materials (“CRM”), including a variety of standards, blanks (materials containing no economic minerals), and duplicate samples, which are used to monitor contamination, precision, and analytical accuracy at the primary assay laboratory and to prevent inaccurate data from being accepted into the assay database. Samples are submitted in batches of approximately 250 samples. Within each batch, QA/QC materials are inserted at a rate of approximately one QA/QC sample for every ten core samples, including CRM standards inserted at the front end of massive sulphide mineralization, blanks inserted immediately following massive sulphide mineralization, and duplicate samples inserted approximately every 10 samples.

Sample security and chain-of-custody procedures are maintained throughout the sampling and analytical process. Core samples are prepared and stored in a secure facility prior to shipment. Samples are placed into plastic bins or sealed totes, which are secured using tamper-evident security tags. Before sealing, a chain-of-custody form is placed inside each container. The containers are transported from the core facility to the ALS laboratory in Thunder Bay, Ontario for preparation, and are subsequently shipped to ALS Laboratories in Vancouver, British Columbia for analysis, where the chain-of-custody documentation is signed by laboratory personnel and returned to Talon upon receipt, confirming sample integrity.

Please see the technical report entitled “November 2022 National Instrument 43-101 Technical Report of the Tamarack North Project – Tamarack, Minnesota” with an effective date of November 2, 2022 (“November 2022 Technical Report”) prepared by independent “Qualified Persons” (as that term is defined in National Instrument 43-101 (“NI 43-101”)) Brian Thomas (P. Geo), Roger Jackson (P. Geo), Oliver Peters (P. Eng) and Christine Pint (P.G) for further information on the QA/QC, data verification, analytical and testing procedures at the Tamarack Nickel Copper Project. Copies are available on the Company’s website (www.talonmetals.com) or on SEDAR at (www.sedar.com). 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 consistently calculated for comparison purposes between holes because of the irregular shapes of the mineralized zones. 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 $4.00/$8.00 x Cu Recovery/Ni Recovery + Co% x $20.00/$8.00 x Co Recovery/Ni Recovery + Pt [g/t]/31.103 x $1,000/$8.00/22.04 x Pt Recovery/Ni Recovery + Pd [g/t]/31.103 x $1,000/$8.00/22.04 x Pd Recovery/Ni Recovery + Au [g/t]/31.103 x $2,000/$8.00/22.04 x Au Recovery/Ni Recovery + Ag [g/t]/31.103 x $20.00/$8.00/22.04 x Ag Recovery/Ni Recovery

CuEq% = Cu%+ Ni% x $8.00/$4.00 x Ni Recovery/Cu Recovery + Co% x $20.00/$4.00 x Co Recovery/Cu Recovery + Pt [g/t]/31.103 x $1,000/$4.00/22.04 x Pt Recovery/Cu Recovery + Pd [g/t]/31.103 x $1,000/$4.00/22.04 Pd Recovery/Cu Recovery + Au [g/t]/31.103 x $2,000/$4.00/22.04 Au Recovery/Cu Recovery + Ag [g/t]/31.103 x $20.00/$4.00/22.04 x Ag Recovery/Cu Recovery

For Ni and Cu recoveries, please refer to the formulae in the November 2022 Technical Report. Recovery of Ni to the Cu concentrate was excluded from the NiEq calculation. The following recoveries were used for the other metals: 64.1% for Co, 82.5% for Pt, 69.3% for Pd and 72.6% for Au and Ag.
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