Talisker Closes Tranche 1 of Private Placement

Press Release

TORONTO, Aug. 13, 2024 —  Talisker Resources Ltd. (“ Talisker ” or the “ Company ”) (TSX: TSK, OTCQX: TSKFF) is pleased to announce that on August 12, 2024, it closed the first tranche (“ Tranche 1 ”) of the previously announced non-brokered private placement (the “ Offering ”) of units of the Company (“ Units ”). In connection with Tranche 1, the Company issued 5,425,500 Units at a price of $0.40 per Unit for aggregate gross proceeds of $2.17 million. The second tranche of the Offering is expected to be completed before the end of August 2024. All amounts are in Canadian dollars unless otherwise noted.

Each Unit consists of one common share of the Company (each, a “ Common Share ”) and one-half of one common share purchase warrant (each whole warrant, a “ Warrant ”). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.60 per Common Share until August 12, 2026.

The Company intends to use the net proceeds from Tranche 1 for working capital and general corporate purposes.

In connection with Tranche 1, the Company paid finder’s fees in an amount equal to 6% of the gross proceeds from the sale of certain Units under Tranche 1, and issued finder’s warrants equal to 6% of certain Units sold under Tranche 1, with each finder’s warrant exercisable into one Common Share at an exercise price of $0.46 per Common Share until August 12, 2026.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933 , as amended (the “ U.S. Securities Act ”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For further information, please contact:

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

Matt Filgate
Vice President, Corporate Development
matt.filgate@taliskerresources.com
+1 778 679 3579

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