Pallinghurst Files Updated Early Warning Report in respect of Talon Metals Corp.

GUERNSEY, Channel Islands, Dec. 1, 2022 /CNW/ - Pallinghurst Nickel International Limited ("Pallinghurst") today announced that it has acquired an aggregate of 125,000 common shares of Talon Metals Corp. ("Talon") at an average purchase price of C$0.4309 per share and an aggregate purchase price of C$53,862.50 on the facilities of the TSX (the "Acquisition").

As a result of the Acquisition, Pallinghurst owns 142,688,907 Talon shares, representing approximately 16.77% of the issued and outstanding Talon shares.  Immediately prior to the Acquisition, Pallinghurst owned 142,563,907 Talon shares, representing approximately 16.76% of the issued and outstanding Talon shares.

Pallinghurst completed the Acquisition in the ordinary course of business and for investment purposes.  Pallinghurst has no current plans or future intentions which relate to, or would result in, acquiring additional securities of Talon or disposing of securities of Talon, except that Pallinghurst may from time to time in the future seek to acquire additional securities of Talon (in the open market or pursuant to privately negotiated transactions), dispose of all or a portion of its securities of Talon and/or enter into derivative or other transactions with respect to such securities, in each case, depending on market conditions, the market price of such securities from time to time and other factors, including Pallinghurst's view of Talon's prospects, business and financial condition.

An early warning report with additional information in respect of the foregoing will be filed and made available on Talon's SEDAR profile at www.sedar.com.  For further information or to obtain a copy of the early warning report, please visit Talon's profile on SEDAR at www.sedar.com or contact Arne H. Frandsen, the Co-Chief Executive of The Pallinghurst Group, at [phone].  Pallinghurst's registered office is located at 23-25 Le Pollet, St Peter Port, Guernsey, GY1 1WQ.

Talon's head office is located at Craigmuir Chambers, P.O. Box 71, Road Town, Tortola, British Virgin Islands.

SOURCE Pallinghurst Nickel International Limited