Talisker Reports Mustang Underground Face Sample Results Defining a 36-metre Strike Length High-grade Shoot Averaging 27.88 g/t on the 1105 Level

Talisker Resources Ltd. (TSK) reported underground face sample results from lateral development on the 1105 Level at the Mustang Mine, part of the Bralorne Gold Project, along the M1 Vein. The company highlighted a continuous 36-metre strike length of high-grade mineralization averaging 27.88 g/t Au across an average true width of 0.61 m. This zone is stated to be outside the defined Mineral Resource at the time of discovery, located in an area where high-grade mineralization had not previously been delineated.

The M1 Vein is described as a third-order structure with a different strike and dip orientation compared to the main second-order veins mined by Talisker, including BK, BK-9870, and Alhambra. The company explicitly states it does not specifically target these veins for resource delineation because they are sub-parallel to the required drill orientation.

Seven faces were tabulated, comprising West Faces 2, 6, 10, 11, 12, 13, and 14, with a total of 33 individual samples. Reported highlight intervals include:

• West Face 11: 229.0 g/t over 0.63 m within 36.6 g/t over 4.60 m
• West Face 2: 93.1 g/t over 0.63 m within 51.6 g/t over 1.58 m
• West Face 12: 75.2 g/t over 0.94 m within 28.5 g/t over 2.95 m
• West Face 14: 62.4 g/t over 1.19 m within 33.4 g/t over 2.32 m
• West Face 6: 50.4 g/t over 0.61 m within 28.3 g/t over 2.38 m
• West Face 10: 46.2 g/t over 0.52 m within 15.0 g/t over 2.73 m
• West Face 13: 42.8 g/t over 1.09 m within 30.1 g/t over 1.58 m

True widths are stated to be between 27% and 38% of interval lengths. No cutoff grade or capping/top-cut was disclosed.

Patrick Weaver, P.Geo., Chief Production Geologist, served as the Qualified Person, though he is expressly not independent of the Company under NI 43-101. Samples were processed by Activation Laboratories (Actlabs) in Kamloops, BC, using prep codes RX1 and RX17. The methodology involved 50 g fire assay with an AAS finish (1A2-50 ORE), with over-limit samples (>=100 g/t) re-assayed by fire assay with a gravimetric finish (1A3-50). QA/QC procedures included CRMs, blanks, and field duplicates at approximately 9% of samples.

Talisker noted a methodological transition from saw-cut channel sampling (5 cm x 5 cm x up to 3.0 m groove) to chip sampling, based on an internal statistical comparison showing statistically comparable results with better operational efficiency. This release marks the fourth underground face-sample disclosure of 2026, following previous releases on April 15, July 21, and September 9.

Talisker Resources Ltd. (TSK) released drill results from a 36 m by 0.61 m shoot on a third-order vein. The company states it does not drill-target this specific vein type for resource delineation. The company’s 2026 Mineral Resource Estimate (MRE), effective December 31, 2025, contains 0.72 Mt Measured and Indicated at 8.91 g/t Au for 206,300 oz and 11.23 Mt Inferred at 8.73 g/t for 3,151,000 oz. A Preliminary Economic Assessment (PEA) dated September 21, 2026, supports a C$1,048 million after-tax NPV5% base case at US$3,500/oz.

Talisker is currently in the commissioning and ramp-up phase as a producer, holding a PEA, an MRE, and a C$252 million market capitalization. The company faces a going-concern flag and has not yet received a permit amendment for 750 tpd throughput. The initial capital requirement stands at C$416 million.

The latest face-sample release continues a monthly reporting pattern that began on April 15, followed by releases on July 21, September 9, and September 28. Previous shoots included intervals of 60 m, 79 m, and 127 m at grades between 27-65 g/t. The current intercept is shorter than those previous results and sits on a less targetable vein type. It contains roughly half the gram-metres of the September 9 shoot.

Talisker shares traded at C$1.21, down 46% from a 52-week high of C$2.26 and above a 52-week low of C$1.05. The stock fell from C$1.52 to C$1.21 across the four sessions following the September 21 PEA. Market reaction is expected to be flat to modestly positive, with potential daily gains of +2% to +5% quickly absorbed amid ongoing skepticism regarding the PEA and going-concern status.

Talisker Resources Ltd. (TSX:TSK | OTCQX:TSKFF) is a Canadian gold company whose flagship asset is the 100%-owned Bralorne Gold Project in southern British Columbia. The company states it is producing at the Mustang Mine within a fully permitted framework. The deposit is orogenic gold, with the Bralorne district having produced a historical 4.2 moz at 17.7 g/t. The current deposit comprises 141 orogenic veins modelled from 2,260 surface and underground drill holes (397,759 m) plus 38,174 channels (37,944 m) spanning 1935 to December 2025.

The 2026 Mineral Resource Estimate (MRE), effective December 31, 2025, uses a 2.3 g/t Au cut-off. The resource includes Measured 0.068 Mt at 10.04 g/t (21,900 oz); Indicated 0.652 Mt at 8.80 g/t (184,400 oz); and Inferred 11.228 Mt at 8.73 g/t (3,151,000 oz). The global total is approximately 3.17 moz. The company explicitly states it has no defined mineral reserves and that production decisions are not based on a feasibility study of reserves.

A Preliminary Economic Assessment (PEA) dated September 21, 2026, prepared by SGS, outlines a base case at US$3,500/oz with an after-tax NPV5% of C$1,048 million, an IRR of 31.3%, and a payback of 2.1 years. A spot case at US$4,300/oz shows an NPV5% of C$1,876 million and an IRR of 67.2%. The project features a 17.6-year total mine life, recovering 1,679 koz with 90.6% recovery, and a life-of-mine AISC of US$1,914/oz. Initial capital is C$416 million, sustaining capital is C$782 million, for a total of C$1,233 million. The nominal processing rate is approximately 2,700 tpd.

Other assets include the Ladner Gold Project, a historic high-grade mine near Hope, BC, with a 691,540 oz Inferred resource per the deck, Major Mines Permit M-138, and a tailings JV with Regeneration Enterprises; the Spences Bridge Project; the Congress project, which had historic production of 186 koz at 9.1 g/t with first Talisker drilling planned, scoping in 2027, and a PEA targeted for 2030; and Olympus, planned as a second mine with portal development in 2028 and production in 2029. In July 2026, Talisker acquired the Ben Nevis property (10,404 ha) from Coast Copper for $125,000 cash, 211,864 shares (C$250,000), and contingent payments of $100,000 per 100,000 oz up to 1 moz, taking the district tenure to approximately 24,000 ha and 40 km strike.

Operations reported H1 2026 production of 4,884 oz from 19,014 t at 7.99 g/t to August 31, with 5,558 oz sold including concentrate. The first 10,944 wmt DSO shipment at 8.71 g/t departed for Taiwan in August 2026.

Regarding financing history, the company raised C$23.0 million at C$1.50 in October/November 2025, and C$52.1 million at C$2.00 per unit (half-warrant at C$2.70) in March 2026. In July 2026, it secured an C$11 million equipment term loan with Two Shores at 14%. A US$25 million revolving facility with Ocean Partners was flagged in late 2025, but its definitive execution has not been disclosed in the materials provided.

Financial position data from Q2-2026 / H1-2026 financials, not disclosed in today's release, shows H1 2026 revenue of C$16.37 million (Q2 C$10.59 million), gross profit of C$6.01 million, and a net loss of C$4.95 million. The company held C$49.75 million in cash, C$42.49 million in working capital, C$149.49 million in total assets, and C$85.22 million in total equity. The book value is C$0.41/share on 208,023,233 shares outstanding. Operating cash outflow was C$9.78 million and capex was C$21.75 million in the half. The MD&A carries an explicit going-concern flag citing reliance on future equity and debt.