Talisker Provides Clarification on Ore Purchase Agreement with Ocean Partners

On November 10, 2025, Talisker provided a clarification on its accelerated Ore Purchase Agreement with Ocean Partners. The key points are: - Gold-bearing material shipments to Ocean Partners will begin in January 2026. - The company has started the process to amend its production permit at the Bralorne Gold Project from the current 175 tonnes per day (tpd) to 500 tpd, with verbal indications of approval expected by Q3 2026. - An ore-sorter is being implemented to increase output beyond the potential 500 tpd permit. - The company has secured a US$25 million revolving credit facility to finance the milling capacity increase and production ramp-up. - This release clarifies and consolidates information from an earlier announcement on the same day regarding the acceleration of the Ocean Partners agreement and the termination of the milling agreement with Nicola Mining Inc.

This news is a positive clarification that reinforces the company's aggressive and well-defined growth trajectory. The most material news was the October 30 announcement of the binding terms for the 1,500 tpd agreement and the US$25 million credit facility, followed by the November 10 (morning) confirmation of its acceleration. This subsequent clarification provides concrete timelines (January 2026 shipments) and confirms that all necessary pieces—a new processing partner, funding (C$23M equity raise + US$25M debt facility), and a permitting path—are in place for a significant production ramp-up.

Reviewing the historical news reveals a company that has systematically de-risked its project and executed its plan effectively over the past year: - Q1-Q2 2025: Laid the groundwork with pre-development activities, ore-sorting studies, and a series of financings at C$0.50 per unit. - Q3 2025: Achieved producer status with the first milling runs in July, first gold sale in August (707 oz for US$2.3M), and sustained monthly production in September (862 oz). This transition from developer to producer was the first major re-rating catalyst. Strong, high-grade face sampling results consistently validated the geological model. - Q4 2025: Secured its long-term growth path. The company strengthened its balance sheet by forcing the conversion of C$5.1M in debentures, raising C$23M in equity at a much higher valuation (C$1.50/share), and signing the transformative agreement with Ocean Partners.

The termination of the Nicola Mining agreement and the acceleration of the Ocean Partners deal is a clear strategic upgrade, providing a single, scalable offtake partner capable of handling the planned production increase to 1,500 tpd. The current clarification solidifies this transition, confirming the start date and the funding mechanism. While the news itself is routine, it reaffirms a highly material and positive shift in the company's operational scale and financial capacity.

Talisker Resources Ltd. is a Canadian gold producer focused on its flagship Bralorne Gold Project in British Columbia. Bralorne is a high-grade, past-producing gold mine that the company is bringing back into production. Talisker recently achieved its first gold sale and is now executing a funded plan to significantly ramp up production. The company's stated goal is to become a multi-asset producer with annual output exceeding 100,000 ounces. The project has an initial Mineral Resource Estimate (MRE) of 1.66 million ounces of gold (inferred and indicated).