Talon Metals Corp. (TSX: TLO) announced new assay results from its ongoing exploration program at the Tamarack Nickel-Copper-Cobalt Project in central Minnesota on November 11, 2026. The release highlights the thickest 138 Zone mineralized interval reported to date at 162.37 metres, alongside high-grade step-out intersections near the Vault Zone. The results expand the known footprint of mineralization at multiple depth levels and investors may be watching whether continued drilling confirms a new accumulation of massive sulphide mineralization east of the Vault Zone.

Key Points

  • Talon Metals Corp. (TSX: TLO; OTCID: TLOFF) released new drill results from the Tamarack Nickel-Copper-Cobalt Project in Minnesota
  • Drill hole 26TK0572 intersected 162.37 metres grading 0.87% Ni and 0.74% Cu — the thickest 138 Zone interval reported to date
  • Drill hole 26TK0574 returned 6.25 metres grading 3.62% Ni and 3.86% Cu at the 710-metre level, representing an approximately 13-metre eastward step-out
  • Investors may be watching whether the off-hole anomaly and sulphide composition at the Eastern Vault Zone step-out indicate a new independent massive sulphide accumulation

Record-Breaking 138 Zone Intercept Extends Mineralized Footprint

Drill hole 26TK0572 intersected 162.37 metres of mineralization grading 0.87% nickel, 0.74% copper, 0.02% cobalt, 0.16 g/t palladium, 0.27 g/t platinum, and 0.19 g/t gold, equivalent to 1.47% NiEq or 2.72% CuEq, beginning at 422.00 metres. The release states this surpasses the previous record 138 Zone interval of 149.01 metres reported in drill hole 25TK0552 on March 11, 2026. The 138 Zone sits above the Vault Zone and comprises interlayered disseminated and net-textured sulphide mineralization hosted in peridotite and feldspathic peridotite.

Eastern Vault Zone Step-Out Drilling Encounters High-Grade Sulphide Veins

Drilling approximately 50 metres east of previously reported Vault Zone mineralization at the 778-metre level intersected narrow, high-grade massive sulphide veins. A subsequent borehole electromagnetic survey identified an off-hole anomaly that was tested by drill hole 26TK0571, which intersected 4.83 metres grading 0.98% Ni and 3.07% Cu (2.82% NiEq) at 732.17 metres. The release notes the higher copper content relative to nickel suggests similarities to the Stringer Zone and the potential for a new accumulation of massive sulphide mineralization, though the relationship to the main Vault Zone remains under evaluation.

High-Grade 710- and 778-Metre Level Results Deepen Vault Zone Understanding

Drill hole 26TK0574 returned 6.25 metres grading 3.62% Ni, 3.86% Cu, and 7.51% NiEq at 706.15 metres, extending the 710-metre level mineralization approximately 13 metres eastward from prior results. The same hole also intersected 0.64 metres grading 15.70% Ni, 6.04% Cu, and 21.81% NiEq at the 778-metre level. The release states these results provide additional insight into the relationship between mineralization at different levels, as Talon works to understand structural continuity across the Vault Zone discovery area.

Project Context and Joint Venture Structure

The Tamarack Project is held in a joint venture with Rio Tinto, with Talon currently owning 51% and holding an earn-in right to increase its ownership to 60%. The project covers approximately 18 kilometres along strike. Talon also holds a US$114.8 million funding agreement with the U.S. Department of Energy and a US$20.6 million grant from the U.S. Department of War to support exploration activities in Minnesota and Michigan. All technical information was reviewed and approved by Dr. Etienne Dinel, Project VP Geology and a Qualified Person under NI 43-101.