Page 1

TALON METALS CORP News Release TSX : TLO TALON METALS REPORTS RESULTS FOR THE YEAR ENDED DECEMBER 31 , 2020 Road Town , Tortola , British Virgin Islands ( March 30 , 2021 ) - Talon Metals Corp. ( " Talon " or the “ Company ” ) ( TSX : TLO ) reported a net loss for the year ended December 31 , 2020 of $ 2.7 million or $ 0.01 per share ( basic and diluted ) , which was primarily the result of administration expenses . This compares to a net loss for the year ended December 31 , 2019 of $ 4.0 million or $ 0.01 per share ( basic and diluted ) , which was primarily the result of administration expenses , stock option compensation and a loss on the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan . Capitalized exploration costs and deferred expenditures on the Tamarack Nickel - Copper - Cobalt Project for the year ended December 31 , 2020 amounted to $ 10.4 million . This compares to $ 17.3 million for the year ended December 31 , 2019. The total capitalized exploration cost on the Tamarack Nickel - Copper - Cobalt Project to December 31 , 2020 amounts to $ 60.8 million . Consolidated Audited Financial Statements for the years ended December 31 , 2020 and 2019 , together with Management's Discussion and Analysis and the Company's Annual Information Form , have been filed on SEDAR and are available at www.sedar.com . All amounts are presented in Canadian dollars . ABOUT TALON Talon is a TSX - listed base metals company in a joint venture with Rio Tinto on the high - grade Tamarack Nickel - Copper - Cobalt Project located in Minnesota , USA , comprised of the Tamarack North Project and the Tamarack South Project . Talon has an earn - in to acquire up to 60 % of the Tamarack Project . The Tamarack Project comprises a large land position ( 18km of strike length ) with numerous high - grade intercepts outside the current resource area . Talon is focused on expanding its current high - grade nickel mineralization resource prepared in accordance with NI 43-101 ; identifying additional high - grade nickel mineralization ; and developing a process to potentially produce nickel sulphates responsibly for batteries for the electric vehicles industry . Talon has a well - qualified exploration and mine management team with extensive experience in project management . For additional information on Talon , please visit the Company's website at www.talonmetals.com or contact : Sean Werger President Talon Metals Corp. Tel : ( 416 ) 361-9636 x102 Email : werger@talonmetals.com