Talisker Announces Increased Financing Package for the Bralorne Gold Project

Press Release

TORONTO, Nov. 07, 2024 — Talisker Resources Ltd. (“ Talisker ” or the “ Company ”) (TSX: TSK, OTCQX: TSKFF) is pleased to announce that today it entered into a $1.1 million convertible debenture (the “ Convertible Debenture ”) with the Spartan MM Fund (the “ Investor ”). The Convertible Debenture is considered part of the financing package that the Company announced on October 9, 2024 and October 17, 2024 (the “ Financing Package ”) as the use of proceeds and terms (which are set out in more detail below) are similar to the convertible debenture that was a component of the Financing Package. Accordingly, the Financing Package has been increased to approximately $22.6 million.

The Convertible Debenture is an unsecured obligation of the Company. It bears interest at a rate of 12% per annum, calculated and payable quarterly in arrears, and has a term of three years. The Investor may convert the principal amount to common shares of Talisker (the “ Shares ”) at a conversion price of $0.56, being 120% of the market price of the Shares on the Toronto Stock Exchange (the “ TSX ”) on November 5, 2024, the trading day prior to the date of the Convertible Debenture (the “ Conversion Price ”). Talisker has the option to convert all or any portion of the Convertible Debenture into Shares if the closing price of the Shares on the TSX is at least 130% of the Conversion Price for each of the 20 trading days before a notice of conversion is delivered to the Investor. If Shares are issued to the Investor pursuant to the Company’s conversion right and the Investor wishes to sell any Shares, Talisker also has the right to identify a purchaser for such Shares.

As part of the Financing Package, the proceeds from the Convertible Debenture will be used to continue advancement of the Company’s flagship Bralorne Gold Project in British Columbia and for general corporate purposes. No finder’s fees were paid in connection with the Convertible Debenture.

For further information, please contact:

Terry Harbort
President and CEO
terry.harbort@taliskerresources.com
+1 416 357 0227

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