Talon Resources Reports Significant High-Grade Gold Discoveries at Eagle Lake Project in Ontario Ahead of Q4 2026 Drilling

Eagle Lake Project Location and Talon's Operational Framework

Talon Resources plc operates the Eagle Lake gold project situated in Ontario’s Wabigoon Subprovince, an area known for established gold-bearing geology and historical exploration. The company holds a 90% interest in the project land package, positioning it as the principal operator overseeing exploration activities. Historical surface sampling at Eagle Lake has recorded gold grades as high as 204 grams per tonne, indicating the presence of high-grade mineralisation within the broader project zone.

In addition to Eagle Lake, Talon Resources is generating further exploration targets across the Wabigoon Subprovince through collaboration with MINML, leveraging machine learning-assisted prospectivity mapping to uncover new opportunities. The company is also assessing exploration prospects elsewhere in North America. This diversified approach establishes Talon as an active exploration entity focused on discovery-stage projects with recognized geological potential, balancing development of its primary Eagle Lake asset alongside regional and continental initiatives.

Phase 1 Channel Sampling Results at East Fornieri Bay and Cedar Trench

Initiated in June 2026, Talon’s Phase 1 exploration programme involved geological mapping, channel sampling, and grab sampling across priority targets. Eight channels were completed at four locations, yielding 57 channel samples over 46.45 metres of exposed outcrop, plus six grab samples. Visible gold was observed at multiple sites and confirmed via fire assay where applicable, providing detailed insights into mineralisation characteristics and grades across key zones.

At East Fornieri Bay, channel sampling returned standout results including 1.85 metres grading 7.17 g/t gold with a 0.50-metre sub-interval at 24.40 g/t gold. Another channel at the same target yielded 4.80 metres at 4.47 g/t gold, including 1.0 metre at 19.10 g/t gold. Cedar Trench showed broader, lower-grade mineralisation with channel samples of 5.70 metres at 1.26 g/t gold (including 1.70 metres at 3.15 g/t gold) and 10.10 metres at 0.57 g/t gold (including 2.50 metres at 1.53 g/t gold). Collectively, these results confirm gold mineralisation across several distinct project targets.

Moss Knoll Discovery Extends Mineralised Trend

During Phase 1, Talon's team discovered a previously unrecognized mineralised outcrop named Moss Knoll, situated between Fornieri Bay and Cedar Trench. Channel sampling at Moss Knoll returned 8.00 metres grading 0.67 g/t gold, including a higher-grade 3.20-metre interval at 1.10 g/t gold. A second channel yielded 1.60 metres at 0.83 g/t gold, alongside a grab sample of 0.82 g/t gold.

Geological analysis indicates Moss Knoll shares characteristics with the Parker Shear target, suggesting it lies along the same mineralised trend. This continuity implies the mineralisation extends over a broader area than previously recognized, creating multiple drilling targets along a shared structural or stratigraphic feature. The Moss Knoll discovery significantly expands Talon’s exploration target portfolio and suggests that mineralisation at East Fornieri Bay, Cedar Trench, Moss Knoll, and Parker Shear may be interconnected.

Parker Shear Grab Sampling Yields High-Grade Surface Assays

Grab samples from Parker Shear delivered the highest assay grades in Phase 1, with the top sample assaying 32.90 g/t gold. Additional grab samples returned 8.37 g/t, 4.57 g/t, and 0.38 g/t gold, indicating variable mineralisation intensity. While grab samples represent selective high-grade points rather than average zone grades, the consistent presence of elevated grades at Parker Shear underscores its potential as a high-grade target warranting systematic drilling.

The distinction between channel and grab sampling is important: channel samples provide systematic, measured data over outcrop lengths, while grab samples capture selected high-grade material. The Parker Shear grab results reflect the upper range of mineralisation, reinforcing its prioritization for the upcoming maiden drilling campaign.

Integration of Historical Data with Machine Learning-Assisted Targeting

Talon plans to integrate Phase 1 results with historical exploration data and geological interpretations using MINML’s machine learning-assisted targeting platform. This approach aims to refine the geological model and optimize drill target selection for the maiden diamond drilling programme. Machine learning analyzes extensive geological, geochemical, and geophysical datasets to identify patterns and rank areas by their prospectivity for economic mineralisation.

By combining new Phase 1 surface sampling data with historical results, Talon seeks to pinpoint priority drill locations where multiple favorable factors converge—such as mineralisation styles, geochemical signatures, structural settings, and spatial relationships—indicating a high likelihood of intersecting significant mineralised zones at depth. This integration and analysis will take place during Q2 and Q3 2026, culminating in finalized drill targets ahead of the Q4 2026 drilling start.

Maiden Diamond Drilling Programme Scheduled for Q4 2026

Talon is on track to initiate its maiden diamond drilling campaign in Q4 2026, targeting approximately 1,000 metres. This will be the first systematic subsurface exploration under Talon’s ownership at Eagle Lake. Diamond drilling provides direct sampling of subsurface geology and mineralisation, enabling detailed assessment of geometry and grade.

The programme’s scale is appropriate for a Phase 1 campaign at a discovery-stage project, allowing testing of multiple targets and providing critical data for resource evaluation. The timing allows four to five months post-Phase 1 surface work for data integration, machine learning targeting, and detailed planning to optimize drill hole placement and depth. Talon describes this drilling as the "first systematic drill test of Eagle Lake’s discovery potential," highlighting its importance in validating the project’s resource potential.

Visible Gold Observations Confirmed by Fire Assay

Visible gold was observed at multiple Phase 1 locations including Fornieri Bay, Cedar Trench, and Moss Knoll, with subsequent fire assay confirmation. Visible gold presence is a strong indicator of genuine gold mineralisation, enhancing confidence in assay results. Figure 1 in the announcement shows visible gold confirmed in channel sample CH-03 from East Fornieri Bay, which graded 19.10 g/t gold over 1.0 metre.

Fire assay, a reliable analytical technique involving smelting and cupellation, verified the gold content, ensuring quality control and accuracy of results. This combination of visual confirmation and laboratory verification strengthens the credibility of the reported grades for investors.

Geological Context and Historical Exploration Background

The Eagle Lake project hosts multiple known gold-bearing zones identified through historical exploration, with surface samples reaching up to 204 g/t gold. Despite this, the project remains relatively underexplored, indicating significant potential upside through systematic drilling and evaluation.

While high-grade mineralisation has been documented, the geometry, continuity, and resource potential remain undefined without detailed subsurface data. Talon’s Phase 1 programme and upcoming maiden drilling aim to advance the project from surface documentation to comprehensive subsurface understanding, essential for resource estimation and economic assessment.

Qualified Person Review and Technical Oversight

The technical information has been reviewed and approved by Douglas Murray, P.Geo., a Professional Geoscientist registered with Engineers and Geoscientists British Columbia, fulfilling AIM regulatory requirements for mining exploration announcements. This Qualified Person statement ensures that technical claims have been independently verified by an expert with relevant experience.

The appointment of a Qualified Person provides governance assurance to investors and regulators, confirming that exploration results are credible and accurately represented. Douglas Murray’s credentials are verifiable, and the announcement confirms the information constitutes inside information for regulatory purposes, ensuring appropriate confidentiality prior to release.

Exploration Upside and Investor Implications

The Phase 1 results demonstrate that Talon’s Eagle Lake project contains significant gold mineralisation across multiple priority targets, with grades comparable to or exceeding many early-stage exploration projects. The discovery of Moss Knoll and geological continuity across targets suggest a potentially large-scale mineralised system.

Management describes these results as a "strong start" that materially enhances confidence ahead of maiden drilling. For investors, the Phase 1 programme reduces geological risk by confirming gold presence across targets, while the Q4 2026 drilling campaign is a pivotal milestone that could significantly influence perceptions of Eagle Lake’s development potential and Talon’s strategic direction.