Talon Metals Announces Completion of Share Consolidation

Core Viewpoint - Talon Metals Corp. has completed a share consolidation, reducing the number of issued and outstanding shares from approximately 1.49 billion to about 149.49 million, effective January 23, 2026 [1][2]. Group 1: Share Consolidation Details - The consolidation ratio is one post-consolidation Talon Share for every ten pre-consolidation Talon Shares [1]. - The consolidation has been conditionally approved by the Toronto Stock Exchange, and trading will commence on a post-consolidation basis under the symbol "TLO" [2]. Group 2: Shareholder Instructions - Registered shareholders holding certificated shares have received a letter of transmittal with instructions for surrendering their pre-consolidation shares [3]. - Shareholders with DRS advice statements do not need to return a letter of transmittal and have been automatically issued new DRS advice statements for their post-consolidation shares [3]. Group 3: Company Overview - Talon is a TSX-listed base metals company focused on high-grade nickel-copper assets in the U.S., including the Eagle Mine and Humboldt Mill in Michigan [4]. - The company is involved in a joint venture with Rio Tinto on the Tamarack Nickel-Copper-Cobalt Project in Minnesota, where it currently owns 51% and has the right to acquire up to 60% [4]. - Talon has received significant funding, including a US$114.8 million grant from the U.S. Department of Energy and a US$20.6 million grant from the U.S. Department of War to support exploration efforts [4].