Talon Metals Corp.

Talon Metals Corp. is a junior nickel development company headquartered in Road Town, British Virgin Islands, operating primarily in USA. The company's portfolio consists of 1 development project. Key assets include Tamarack North. The company's business model is centered on mineral exploration and development, with a distinct operational approach that integrates an in-house 'Advanced Exploration System'. This proprietary system combines advanced geophysics, company-owned and operated drill rigs, and a pseudo real-time assay estimating and resource modeling capability, designed to accelerate the discovery and delineation of high-grade deposits. A key component of the operational strategy involves the planned development of a dedicated battery minerals processing facility at an industrial brownfield site, which separates processing from mining activities to reduce the environmental footprint at the primary extraction location. This integrated model, from exploration using advanced technology to specialized processing, positions the enterprise to control key stages of the value chain. The organization also provides drilling and exploration services, generating an alternative revenue stream and further leveraging its in-house technical capabilities and equipment.

Strategic priorities are focused on advancing its primary asset towards a feasibility study to secure a 60% controlling interest. A cornerstone of its market positioning is a long-term supply agreement with a major electric vehicle manufacturer, which underpins the commercialization strategy and dictates a focus on producing specific concentrates. The enterprise actively leverages government funding programs to de-risk and accelerate development, having secured cost-share grants from the US Department of Energy for its planned processing facility and from the US Department of Defense to expand domestic exploration efforts. Growth is pursued through the expansion of its exploration portfolio, demonstrated by an option agreement to acquire a majority interest in a large package of mineral rights. The long-term objective is to valorize 100% of mined material by developing flowsheets that maximize metal and sulphur recoveries, investigating the commercialization of by-products, and exploring innovations like carbon sequestration.

Executive leadership is headed by an Executive Chairman and a Chief Executive Officer, who have been with the organization since 2013 and 2012, respectively. The board of directors includes individuals with extensive experience in public company management, private equity, investment banking, and real estate finance. Governance is structured through key board committees, including an Audit Committee and a Corporate Governance and Compensation Committee. The Audit Committee is composed of 3 directors, all of whom are determined to be independent and financially literate, and it meets at least 4 times annually to oversee financial reporting and internal controls. A shareholder rights plan is in place to ensure all shareholders are treated fairly in the event of a potential change of control transaction. The board's governance framework requires directors with a potential conflict of interest to disclose their interest and abstain from voting on the relevant matter.

The organization's approach to social responsibility is formalized through a binding Memorandum of Agreement with a state building and construction trades council, ensuring the use of a skilled local workforce for future construction and operations. Community and stakeholder engagement is conducted through quarterly information sessions designed to share information and gather feedback to shape project plans. Environmental stewardship is demonstrated by the strategic decision to locate its future processing facility on an existing industrial brownfield site, significantly reducing new land disturbance. The environmental review process for its primary asset includes government-to-government consultations with tribal sovereign governments. Furthermore, the company is engaged in research and development, supported by a contract with the Defense Logistics Agency, to develop novel, more efficient methods for extracting metals from ores and tailings, aiming to improve resource utilization and minimize waste.

The company's primary operational structure is defined by an option agreement with Kennecott, a part of the Rio Tinto Group, through which it has earned a 51% interest in a joint venture and holds the right to increase its stake to 60%. Its interests are held through its wholly-owned indirect subsidiary, Talon Nickel (USA) LLC. In 2020, the enterprise divested its Trairao Iron Project through the sale of its Brazilian subsidiary. A significant growth initiative was undertaken in 2022 via an option and earn-in agreement with UPX Minerals Inc. to acquire up to an 80% interest in a substantial package of mineral rights. Key financing partners include Triple Flag Precious Metals Corp., which holds net smelter return royalties on the main asset through agreements established in 2019 and amended in 2022 and 2024. Pallinghurst Nickel International Ltd. is a significant shareholder, holding an approximate 16% interest, and Rio Tinto also holds an equity position acquired as part of the 51% earn-in transaction.