Page 1

TALON METALS CORP News Release TSX : TLO TALON METALS REPORTS RESULTS FOR THE QUARTER ENDED SEPTEMBER 30 , 2021 Road Town , Tortola , British Virgin Islands ( November 15 , 2021 ) – Talon Metals Corp. ( " Talon ” or the “ Company ” ) ( TSX : TLO ) reported a net loss for the three months ended September 30 , 2021 of $ 1.5 million or $ nil per share ( basic and diluted ) , which was primarily the result of administration expenses and stock option compensation . This compares to a net loss for the three months ended September 30 , 2020 of $ 0.5 million or $ nil per share ( basic and diluted ) , which was primarily the result of administration expenses . The Company's net loss for the nine month period ended September 30 , 2021 was $ 4.5 million or $ 0.01 per share ( basic and diluted ) . This compares to a net loss of $ 1.3 million or $ nil per share ( basic and diluted ) for the same period in the prior year . Capitalized exploration costs and deferred expenditures on the Tamarack Nickel - Copper - Cobalt Project for the three months ended September 30 , 2021 amounted to $ 14.2 million . This compares to $ 2.3 million for the three months ended September 30 , 2020. The total capitalized exploration cost to the Tamarack Nickel - Copper - Cobalt Project to September 30 , 2021 amounts to $ 89.4 million . Condensed Interim Consolidated Financial Statements for the three and nine months ended September 30 , 2021 and 2020 , together with Management's Discussion and Analysis 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 . 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 responsible processing capability in the United States . 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