Talon

Aug 5, 2020

07/28 0 Message : *Required fields Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - August 5, 2020) - Talon Metals Corp. (TSX: TLO) ("Talon" or the "Corporation") is pleased to announce that it has increased the size of its previously announced best efforts public offering of the Corporation (the "Offering"). Pursuant to the revised terms of the Offering, Talon expects to issue common shares of the Corporation (the "Common Shares") for aggregate gross proceeds of up to $5 million at a price of $0.26 per Common Share. The Offering is being conducted by Paradigm Capital Inc. ("Paradigm") as sole agent (the "Agent") and is expected to be conducted in each of the provinces of Canada, except the province of Québec, pursuant to a prospectus supplement to the Corporation's base shelf prospectus dated March 26, 2020. The Offering will be made pursuant to the terms of an agency agreement (the "Agency Agreement") to be entered into between the Corporation and Paradigm. The Agency Agreement will provide that the Corporation will grant the Agent an option (the "Over-Allotment Option") to purchase up to a number of additional Common Shares equal to 15% of the Common Shares sold pursuant to the Offering, exercisable in whole or in part at any time up to 30 days after the closing date of the Offering. The Corporation intends to use the net proceeds from the Offering for advancing work related to its planned exploration and development program at the Tamarack North Project in Minnesota, and for general working capital purposes. The Offering is expected to close on or about August 13, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange (the "TSX"), and the entering into of the Agency Agreement. The Common Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. 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 Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Talon Talon is a TSX-listed company focused on producing nickel responsibly for the electric vehicles industry. The high-grade Tamarack Ni-Cu-Co Project is located in Minnesota, USA (which comprises the Tamarack North Project and the Tamarack South Project). The Corporation has a well-qualified exploration and mine management team with extensive experience in project management. For additional information on Talon, please visit the Corporation's website at www.talonmetals.com or contact: Sean Werger