23 June 2026

Metals One Plc

("Metals One" or the "Company")

Strategic Investment in Talon Resources' AIM Listing

Metals One (AIM: MET1, OTCQB: MTOPF), a critical and precious metals developer and investor with a key focus on gold and uranium, is pleased to announce it has invested a further £200,000 in Talon Resources PLC (AIM: TAR) ("Talon"), a gold exploration company focused on North America, having originally invested £150,000 in September 2025, as detailed below. As a result, Metals One now owns 5.57% of Talon's enlarged issued share capital following the admission of Talon's enlarged share capital to trading on AIM today.  

Talon Resources plc

Talon has been admitted to trading on AIM, transitioning from a Main Market cash shell to a North American gold exploration company. Its flagship asset is the 90%-owned Eagle Lake Gold Project, located in Ontario's Dryden Gold District within the prospective Wabigoon Subprovince, comprising 95 contiguous claims covering 1,986 hectares. Historical exploration at Eagle Lake returned surface sample results of up to 204 g/t Au, while only 26 shallow drill holes have been completed across the project area. Planned exploration, funded from Talon's existing cash resources, includes geophysical and geochemical surveys, together with an initial 2,000m diamond drilling programme.

Through its collaboration with MINML, Talon is applying machine learning-assisted targeting to support exploration at Eagle Lake and generate new opportunities across the Wabigoon Subprovince, supporting its broader North American growth strategy.

Investment Details

Metals One's initial loan investment in Talon - totalling £150,000 - was made on 24 September 2025. Following approval from shareholders at the general meeting which took place on 22 June 2026, the loan was converted into 15,687,945 shares in Talon.

Metals One also participated in Talon's £2.0 million equity fundraise, by subscribing for 16,000,000 new shares at a price of 1.25 pence per share. The participation results in Metals One holding a minority stake in Talon representing approximately 5.57% of Talon's enlarged issued share capital. The investment is a passive holding and does not confer any controlling interest or influence over Talon.

Additional Disclosure

The Board of Metals One notes that following the Admission of Talon's shares to AIM, Alex King, a Non-Executive Director of Metals One, has assumed the role of Chief Executive Officer of Talon. Accordingly, Mr King has been deemed to have a material interest in Talon and has not participated in any Board deliberations or decisions relating to Metals One's investment in Talon.

Daniel Maling, Managing Director of Metals One, commented:

"Metals One is pleased to invest in Talon. We believe their Eagle Lake property offers discovery potential and a pipeline of near-term catalysts. We are also very interested in their technology-led target generation approach with MINML in the wider - highly prospective - region and look forward to following their developments."

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About Metals One

Metals One is a metals exploration and project development company. We have a global portfolio of operated and minority interests with a core focus on uranium opportunities in North America and gold opportunities in South Africa. Metals One's shares are listed on the London Stock Exchange's AIM Market (MET1) and on the OTCQB Venture Market in the United States (MTOPF).

Map of Metals One's Portfolio

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Nominated Adviser

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.