Road Town, British Virgin Islands--(Newsfile Corp. - April 6, 2026) - Talon Metals Corp. (TSX: TLO) (OTCID: TLOFF) ("Talon" or the "Company") announces that the Company is exercising its right to accelerate the expiry of the outstanding common share purchase warrants of the Company (the "Warrants") issued on June 18, 2025, pursuant to the Company's brokered private placement and concurrent non-brokered private placement.

As announced by the Company on January 27, 2026, the Company completed the consolidation of its issued and outstanding common shares (the "Common Shares") on January 23, 2026, on the basis of one post-consolidation Common Share for every 10 pre-consolidation Common Shares (the "Consolidation").

Following the Consolidation, each Warrant entitles the holder thereof to acquire one Common Share (a "Warrant Share") at a price of $2.80 per Warrant Share until June 18, 2028, subject to acceleration of the expiry date in accordance with the terms of the Warrants. Pursuant to the terms of the Warrants, in the event that the closing price of the Common Shares on the Toronto Stock Exchange (the "TSX") (or such other Canadian stock exchange on which the Common Shares are then listed) for 20 consecutive trading days exceeds $5.60, the Company may, within 10 business days of the occurrence of such event, deliver a notice (including by way of a news release) to the holders of the Warrants accelerating the expiry time of the Warrants to 5:00 p.m. (Toronto time) on the date that is 30 days following the date of such notice.

On April 6, 2026, the closing price of the Common Shares on the TSX exceeded $5.60 for 20 consecutive trading days. Pursuant to the terms of the Warrants, the Company hereby provides notice to the holders of the Warrants that the Company is exercising its right to accelerate the expiry of the outstanding Warrants to 5:00 p.m. (Toronto time) on May 6, 2026 (the "Accelerated Expiry Date") (being the date that is 30 days following the date of this notice).

Any Warrants remaining unexercised after 5:00 p.m. (Toronto time) on the Accelerated Expiry Date will expire and become void and of no further force or effect.

The Company understands that 6,523,651 Warrants remain unexercised and outstanding as at the date of this news release. If all 6,523,651 Warrants are exercised on or prior to the Accelerated Expiry Date, the Company will receive proceeds of $18,266,223 upon payment of the exercise price therefor.

The Warrants (and the underlying Warrant Shares) have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT TALON

Talon is a TSX-listed base metals company advancing and operating high-grade nickel-copper assets in the United States, including 100% ownership of the Eagle Mine and Humboldt Mill in Michigan, the only primary nickel mine currently operating in the United States, and the Tamarack Nickel-Copper-Cobalt Project in Minnesota. Talon is 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-Copper-Cobalt 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-Copper-Cobalt Project and currently owns 51%. Talon has a neutrality and workforce development agreement in place with the United Steelworkers union. Talon's Beulah Mineral Processing Facility in Mercer County was selected by the US Department of Energy for a US$114.8 million funding grant from the Bipartisan Infrastructure Law and the US Department of War 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 and experienced exploration, mine permitting, mine development, operations, and community relations teams.

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

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 the outstanding Warrants and the potential proceeds the Company may receive upon any exercise of the outstanding Warrants on or prior to the Accelerated Expiry Date. 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.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291346