High-Grade Intercepts incl 8.75m at 5.05 g/t Au

 29 October 2026

Talon Resources plc

(“Talon” or the “Company”)

High-Grade Drill Intercepts at Eagle Lake – 21.25m at 2.19 g/t including 8.75m at 5.05 g/t Au 

Encouraging results from first assays provide strong support for high-grade mineralisation at multiple areas at Eagle Lake

Talon Resources plc (AIM: TAR), the North American gold exploration company, is pleased to announce preliminary assay results of its maiden drill programme at the Eagle Lake Gold Project in Ontario, Canada ("Eagle Lake" or the "Project"). These preliminary results relate to sections of core sent for rapid assay from the 12-hole, 1,169m programme, with the majority of assay results expected from the laboratory by the end of 2026.

OVERVIEW

• High-grade gold mineralisation intersected at multiple targets from the initial batch of assay results.
• Stand-out intercept in EG-26-07 at Cedar Trench. This was the highest-ranked target identified by MINML's PRISM machine learning platform, reinforcing the targeting work and adding a further layer of data to guide future interpretation as work is narrowed and stepped out.
• Initial highlight intercepts received to date include:
  • EG-26-07 (Cedar Trench) intersected:
    • 21.25m at 2.19 g/t Au (from 64.00m), including;
      • 8.75m at 5.05 g/t Au (from 76.50m);
      • 0.93m at 15.10 g/t Au (from 77.57m); and
      • 1.25m at 17.08 g/t Au (from 84.00m)
    • 11.57m at 0.85 g/t Au (from 48.50m), including:
      • 0.60m at 4.67 g/t Au (from 49.12m); and
      • 1.00m at 1.98 g/t Au (from 55.50m)
  • EG-26-06 (Cedar Trench) intersected:
    • 33.35m at 0.61 g/t Au (from 30.15m), including:
      • 4.55m at 1.83 g/t Au (from 56.95m); and
      • 1.50m at 1.85 g/t Au (from 34.00m)
  • EG-26-03 (East Fornieri Bay) intersected five intervals of gold mineralisation (all assays received), including:
    • 0.50m at 6.86 g/t Au (from 19.50m); and
    • 2.99m at 0.70 g/t Au (from 94.00m)
  • EG-26-01 (East Fornieri Bay) intersected:

• 5.80m at 0.54 g/t Au (from 33.50m), including:
  • 1.10m at 1.68 g/t Au (from 36.00m); and
  • 0.80m at 1.33 g/t Au (from 38.50m)

• Remaining samples are being processed by the laboratory and are expected to provide a comprehensive interpretation of the geology at Eagle Lake.

Alex King, Chief Executive Officer, commented: 

"These are terrific first results and give us a vital early picture of the wider prospectivity of Eagle Lake. Hole EG-26-07 at Cedar Trench is a fantastic intercept and, importantly, it reinforces the work carried out by MINML, giving us another layer of data to interpret as we narrow our focus and step out from these results. Meanwhile, the majority of samples are still at the laboratory and those additional assays will give us a much more comprehensive interpretation of the geology at Eagle Lake, which I believe will provide strong support behind our confidence that the Project’s true potential has been historically overlooked. We look forward to receiving more results from the laboratory in due course."

DETAILS

Eagle Lake hosts multiple known gold-bearing zones identified through historical exploration, including surface sample results of up to 204 g/t Au. While these results demonstrate the presence of high-grade gold mineralisation, the Project remains relatively underexplored and is now being systematically advanced through Talon's exploration programme.

The Company's Phase 1 exploration programme (see RNS dated 29 June 2026) comprised geological mapping, channel sampling and grab sampling across the Project's priority East Fornieri Bay, Cedar Trench and Parker Shear targets, and identified the new Moss Knoll target. 

The maiden drill programme was planned to intersect the mineralisation encountered in the surface channel sampling programme. This programme reported high-grade gold across significant widths at multiple targets across the Project area (see RNS dated 22 July 2026).

The results from the first phase of the maiden drill programme will be incorporated into MINML's machine learning-assisted targeting platform to further refine the Company's geological model and support further drill planning and exploration, expected in Spring 2027. 

Table 1: Eagle Lake maiden drill programme – significant intercepts (results received to 26 October 2026; preliminary unless noted)

Notes: Lengths are core lengths, true widths unknown. Metallic screen (FA-MeT) results used where available (EG-26-03 2921102; EG-26-07 2920329, 2920335–337). All results preliminary except Actlabs A26-17385 (Final). Au assays below detections of 0.03 ppm use half of the detection limit. Bulk intervals (shaded grey) are calculated at a 0.1 g/t Au cutoff with ≤3.0 m consecutive internal dilution; other intervals at 0.3 g/t Au with ≤2.0 m; no top cut applied Collars NAD83 UTM Zone 15.

Figure 1: Visible gold confirmed at Fornieri Bay: EG-26-03 – 0.50m @ 6.86 g/t Au.

Qualified Person Statement

The technical information contained in this announcement has been reviewed and approved by Douglas Murray, P.Geo., Senior Geologist at Critical Discoveries Ltd., which is contracted by the Company to manage the Eagle Lake drill programme. Mr Murray is a Professional Geoscientist registered with Engineers and Geoscientists British Columbia, has at least five years of relevant experience in gold exploration, and is a qualified person as defined in the AIM Note for Mining, Oil and Gas Companies.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). The Directors of the Company are responsible for this announcement.

ENDS

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NOTES

Talon Resources PLC (AIM: TAR) is a gold exploration company focused on high-impact discovery opportunities across North America. Its initial asset is the Eagle Lake gold project in Ontario’s Wabigoon Subprovince, where it holds a 90% interest in a land package with multiple high-grade gold targets and significant exploration upside. Through its collaboration with MINML, Talon is also generating new targets across the Wabigoon Subprovince using machine learning-assisted prospectivity mapping, while continuing to evaluate additional opportunities elsewhere in North America.

Forward-Looking Statements

This announcement may contain forward-looking statements. These statements are made by the Directors in good faith based on the information available to them at the time of their approval of this announcement and such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking information.