Talisker to Accelerate Ore Purchase Agreement with Ocean Partners for up to 1,500 tpd

Executive Summary

• Talisker Resources confirmed it will begin shipping gold‑bearing material to Ocean Partners UK Ltd in January 2026, accelerating its production ramp‑up.
• The company is finalizing definitive Ore Purchase and revolving credit facility agreements that could increase milling capacity to up to 1,500 tpd.
• A 60‑day termination notice has been issued for the existing milling agreement with Nicola Mining Inc., clearing the path for the new partnership.

Key Details

• Ore Purchase Agreement (OPA): Binding terms previously announced on Oct 30 2025 for up to 1,500 tpd of gold‑bearing material with Ocean Partners UK Ltd.
• Revolving Credit Facility: US$25 million facility tied to the OPA, also announced on Oct 30 2025; definitive documents are being finalized.
• Shipping Commencement: Talisker will start shipping ore to Ocean Partners in January 2026, subject to customary conditions precedent.
• Milling Capacity Expansion: The new agreements are intended to raise Talisker’s milling capacity to a maximum of 1,500 tpd.
• Termination Notice: A 60‑day notice terminating the existing milling agreement with Nicola Mining Inc. has been served, enabling transition to Ocean Partners.
• Expected Timing: Definitive agreements are anticipated to be executed before the end of January 2026, pending satisfaction of standard conditions.

Notable Quotes

“The decision to accelerate the transition to Ocean Partners is in line with Talisker’s planned increase of its production rate for 2026. We look forward to finalizing the Agreements with Ocean Partner that is planned to increase our milling capacity to up to 1,500 tpd.” – Terry Harbort, President and CEO

Materiality Assessment: Material – Positive (the announcement signals a significant operational expansion and new financing that could materially affect future production and cash flow).