Talon Metals Reports Results for the Quarter Ended September 30, 2025

Financial Performance - The company reported a net income of $1,676 for the quarter ended September 30, 2025, compared to a net loss of $0.6 million for the same period in 2024, primarily due to administration expenses offset by foreign currency gains and interest income [1] - For the nine-month period ended September 30, 2025, the company recorded a net loss of $2.0 million, an increase from a net loss of $1.6 million for the same period in the prior year [2] Exploration and Development Costs - Capitalized exploration and development costs for the Tamarack Nickel-Copper-Cobalt Project for the quarter ended September 30, 2025, amounted to $5.6 million, resulting from exploration and development costs of $7.4 million, offset by government grants of $1.8 million [3] - In comparison, for the same quarter in 2024, the capitalized costs resulted in a credit of $3.7 million, primarily due to a sale of a royalty for net proceeds of $10.5 million and government grants of $0.7 million [3] - The total capitalized cost to the Tamarack Nickel-Copper-Cobalt Project as of September 30, 2025, is $240.8 million [3] Company Overview - Talon Metals Corp. is a TSX-listed base metals company in a joint venture with Rio Tinto on the Tamarack Nickel-Copper-Cobalt Project located in central Minnesota [5] - The company has an earn-in right to acquire up to 60% of the Tamarack Nickel Project and currently owns 51% [5] - Talon has received significant funding, including a $114.8 million grant from the US Department of Energy and a $20.6 million grant from the US Department of Defense to support exploration efforts [5]