Talon Metals Chooses Humboldt Mill for Tamarack Project

Talon Metals Corp., a TSX-listed base metals company, has announced that it will process material from its Tamarack Nickel-Copper-Cobalt Project in central Minnesota at its existing Humboldt Mill in Michigan. This decision marks a significant shift in the company's plans, as Talon will no longer advance the construction of the Beulah Minerals Processing Facility (BMPF) in Mercer County, North Dakota.

The company's choice to utilize the Humboldt Mill is based on its recent acquisition of the Eagle Mine and Humboldt in January 2026. This acquisition provided Talon with an operating U.S. nickel-copper processing facility, an experienced workforce, and an established technical and operational expertise. Leveraging this existing infrastructure, Talon believes it can efficiently support the future development of the Tamarack Project without the need for a new processing facility.

According to Darby Stacey, Chief Executive Officer of Talon Metals Corp., "The Humboldt Mill gives us the opportunity to build on an existing U.S. processing facility with a proven operational and environmental track record and a highly experienced workforce. As we evaluate the future development of the Tamarack Project, we see real value in making the best use of infrastructure we already own and maintaining skilled jobs and economic activity in Michigan."

The decision to move forward with the Tamarack Project at Humboldt involves several steps. Talon is currently conducting a feasibility study to evaluate the processing of material from the Tamarack Project at Humboldt, including the necessary material handling and process modifications, as well as other technical and strategic considerations. The feasibility study is expected to be completed in the fourth quarter of 2026.

Talon will also coordinate with regulators in Minnesota and Michigan regarding the transition to Humboldt as the processing location. The Humboldt Mill is already included as an off-site processing option in the current Minnesota Department of Natural Resources environmental review materials for the Tamarack Project. The facility has been operating continuously since commercial production at the Eagle Mine began in 2014, and it currently processes ore from Talon's wholly owned Eagle Mine using conventional flotation to produce separate nickel and copper concentrates.

Talon's move to the Humboldt Mill is also part of a larger strategic plan. The company has an existing $114.8 million funding agreement with the U.S. Department of Energy (DOE) under the Infrastructure Investment and Jobs Act to support the development of the BMPF in North Dakota. Talon is working with the DOE regarding the future of the award following the company's decision to select the Humboldt Mill as the processing location for material from the Tamarack Project.

The Tamarack Project is a joint venture with Rio Tinto, comprising a large land position extending approximately 18 kilometers along strike, with additional high-grade intercepts outside the current resource area. Talon currently owns 51% of the Tamarack Project and has an earn-in right to increase its ownership to 60%. The company has a neutrality and workforce development agreement in place with the United Steelworkers union.

In summary, Talon Metals Corp.'s strategic decision to process material from the Tamarack Project at the Humboldt Mill in Michigan marks a significant shift in the company's plans. This move will leverage existing infrastructure, maintain jobs and economic activity in Michigan, and align with the company's broader goals for the U.S. nickel-copper platform. The feasibility study and regulatory coordination are crucial steps in realizing this new plan.