Talon Metals Corp. providing an update on the Company's mineral exploration activities in both Minnesota and Michigan for 2024. Nearly 50% funded by the US Department of Defense (DOD): In November 2023, Talon and the US Department of Defense announced that the US Department of Defense would provide USD 20.6-million for accelerated exploration in Minnesota and Michigan, nearly doubling Talon's exploration budget.

The partnership with the Department of Defense ensures that nearly half of Talon's 2024 exploration plan is funded by support from the Department of Defense. 30,000-meter drill program followed by in-house geophysics (already underway): Talon's exploration plan for 2024 includes 30,000 meters of drilling with subsequent in-house geophysical testing, aimed at further expanding the resource in Minnesota and testing historical high-grade nickel targets in Michigan. Minnesota Targets: The 2024 exploration efforts will be concentrated on four key areas at the Tamarack Nickel Project, namely: (1) the Raptor Zone; (2) testing the Deep MT Target that sits directly below the Tamarack Resource Area; (3) the Main Zone massive sulfide exploration (i.e., expanding the high-grade nickel-copper mineralization stepping outside of the Tamarack Resource Area); and (4) CGO East Expansion.

Each of the target areas present unique opportunities for discovery and resource growth at the Tamarack Nickel Project. (1) Raptor Zone: A parallel but separate intrusion from the Tamarack Resource Area with high- grade mineralization found along the basal contact that extends over four kilometers. Based upon drill results to date, Talon is working towards achieving critical mass in the Raptor Zone.

(2) Deep MT Target: Potential Raptor Zone origin that resides directly beneath the Tamarack Resource Area and could represent a game changing exploration opportunity. (3) Main Zone Massive Sulphide Expansion (step-outs from the Tamarack Resource Area): Testing the eastern continuation of the massive sulphide mineralization to potentially increase the high-grade nickel-copper resource, thereby increasing the mine life and improving overall economics of the Tamarack Nickel Project. (4) CGO East Expansion: Shallow, brownfields exploration potential through minimal drilling and geophysics to increase the high-grade nickel-copper resource, thereby increasing the mine life and improving overall economics of the Tamarack Nickel Project.

Michigan Targets: Talon's exploration activities in Michigan offer promising prospects for new high-grade nickel discoveries similar to what has been found at the Eagle Nickel Mine (currently in operation in Michigan), with untapped geophysical targets and a new Talon exploration model based on previous discoveries. Kicked off exploration in March 2024: Talon is already on the ground in Michigan (ahead of schedule) conducting geophysical work. Talon has also purchased a local property in L'Anse, Michigan that will serve as Talon's local office and core shed.

Talon plans to deploy one drill rig starting in May with funding from the Department of Defense. Talon has engaged in information sharing activities with local community leaders and tribal sovereign governments in advance of drilling and has hired its first Community and Tribal Engagement Liaison, Cody Mayer, based in the region close to Talon's exploration priorities in the Upper Peninsula of Michigan. Exploring over a +400,000-acre package originally purchased by Henry Ford: Talon's exploration efforts cover a vast land package, showcasing the historical significance and potential of the region.

Exploration efforts in Michigan, though limited, have resulted in the identification of two discoveries, Eagle and Eagle East (currently owned and operated by Lundin Mining), highlighting the relatively untapped potential within the region. Utilizing private land package with little to no modern nickel exploration: Talon's exploration activities in Michigan leverage a private land package with minimal modern nickel exploration, presenting a unique opportunity for significant discoveries and value creation.