Talon Metals Reports Results for the Year Ended December 31, 2025

Executive Summary

• Talon Metals reported a net loss of C$5.1 million ($0.05 per share) for FY 2025, widening from a C$2.3 million loss in FY 2024.
• The company completed a 1‑for‑10 reverse stock split effective January 23 2026, adjusting all per‑share figures accordingly.
• Capitalized exploration and development costs on the Tamarack Nickel‑Copper‑Cobalt Project increased to C$25.6 million in FY 2025 (total project capitalized cost now C$246.3 million).

Key Details

• Net loss FY 2025: C$5.1 M or $0.05 per share (basic & diluted), versus a net loss of C$2.3 M ($0.02 per share) in FY 2024.
• Primary drivers of loss: Administration expenses and a loss on an advance settled with shares.
• Share consolidation: 1 post‑consolidation Talon common share for every 10 pre‑consolidation shares, effective 23 Jan 2026; all per‑share amounts restated.
• Capitalized exploration & development (Tamarack Project): C$25.6 M in FY 2025 (up from C$13.9 M in FY 2024).
• Components of capitalized costs FY 2025: Exploration and development expenditures of C$29.3 M offset by government grants received of C$3.7 M.
• FY 2024 comparison: Capitalized costs of C$13.9 M, comprised of C$29.1 M exploration/development offset by a royalty sale net proceeds of C$10.5 M and government grants of C$4.6 M.
• Total capitalized cost to Tamarack Project (as of 31 Dec 2025): C$246.3 M.
• Financial statements: Consolidated Financial Statements for FY 2025 and FY 2024 filed on SEDAR+.

Notable Quotes

(No direct quotes were included in the release.)