Talisker Announces Further High-Grade Drill Results from the Bralorne Gold Project Resource Conversion Program

January 17, 2024

TORONTO, Jan. 17, 2024 (GLOBE NEWSWIRE) — Talisker Resources Ltd. (“Talisker” or the “Company”) (TSX:TSK | OTCQX:TSKFF) is pleased to announce additional high-grade drill results highlighted by 36.84 g/t Au over 1.00 metres within a broader interval of 3.71 g/t over 12.50 metres at its 100% owned flagship Bralorne Gold Project.

Key Points:

Talisker initiated resource conversion drilling on October 17, 2023 with 15,000 metres of planned drilling.
Hole SB-2023-017A intersected 36.84 g/t Au over 1.00 metres within a broader interval of 3.71 g/t Au over 12.50 metres on the BK Vein.
Hole SB-2023-007 intersected 16.29 g/t Au over 2.10 metres within a broader interval of 8.18 g/t Au over 4.45 metres on the Alhambra Vein.
Hole SB-2023-006 intersected 10.27 g/t Au over 1.9 metres on the BK-9870 Vein.
The resource conversion drill program is focused on increasing confidence in the Alhambra and BK Vein.

Felipe Castaneda, Vice President, Technical Services of Talisker, stated, “Our team is very pleased with the high-grade results we continue to receive from the Mustang Mine resource conversion drilling campaign. Hole SB-2023-017A confirms grade continuity within the BK vein’s proposed planned stopes for 2025 and 2026. Hole SB-2023-006 extends the BK-9870 structure up dip approximately 35m from currently planned stopes, while SB-2023-007 extends the Alhambra vein laterally to the southeast. We’re also very excited to see the thickness of the mineralized halo surrounding the vein structures, which will help to reduce dilution and improve overall mineability during test mining.”

SB-2023-006 Description

Complete results received.
Located in the King block and intersected dioritic intrusive.
BK-9870 Vein intersected from 34.55 to 35.55m as a brecciated quartz vein hosting arsenopyrite and pyrite mineralization with moderate silica alteration.

SB-2023-007 Description

Complete results received.
Located in the King block and intersected dioritic intrusive.
Alhambra Vein intersected from 146.55 to 147.65m as a banded brecciated quartz vein hosting visible gold, arsenopyrite and pyrite mineralization.

SB-2023-017A Description

Complete results received.
Located in the King block and intersected dioritic intrusive.
BK Vein intersected from 309.55 to 310.55m as a banded brecciated quartz vein hosting visible gold, arsenopyrite and pyrite mineralization.

Major vein structures intersected are considered classic Bralorne crack-seal quartz-carbonate veins with densely banded sulphide septae. Crack-seal septae host fine-grained arsenopyrite and pyrite mineralization. Alteration halos consist of strong silica-sericite±mariposite alteration halos.

Table 1: Bralorne Gold Project – Drill Holes SB-2023-006, 2023-007 and 2023-017A
Diamond Drill Hole Name	From (m)	To (m)	Interval (m)		Au (g/t)	Interpreted Structure
SB-2023-006	29	30	1	0.37		BK-9870 Vein Halo
SB-2023-006	30	30.5	0.5	0.54
SB-2023-006	30.5	31.5	1	0.16
SB-2023-006	31.5	32.55	1.05	0.33
SB-2023-006	32.55	33.15	0.6	0.35
SB-2023-006	33.15	33.65	0.5	0.99
SB-2023-006	33.65	34.55	0.9	3.65		BK-9870 Vein
SB-2023-006	34.55	35.05	0.5	14.95
SB-2023-006	35.05	35.55	0.5	17.50
SB-2023-006	35.55	36.25	0.7	0.52		BK-9870 Vein Halo
SB-2023-006	36.25	37.05	0.8	0.47
SB-2023-006	37.05	37.8	0.75	0.01

SB-2023-007	146.55	147.65	1.1	30.20		Alhambra Vein
SB-2023-007	147.65	148.15	0.5	1.24		Alhambra Vein
SB-2023-007	148.15	148.65	0.5	0.73		Alhambra Vein Halo
SB-2023-007	148.65	149.5	0.85	1.08
SB-2023-007	149.5	150	0.5	0.88
SB-2023-007	150	150.5	0.5	1.22
SB-2023-007	150.5	151	0.5	0.43

SB-2023-017A	301.5	302	0.5	0.22		BK Vein Halo
SB-2023-017A	302	303	1	2.06
SB-2023-017A	303	303.5	0.5	0.60
SB-2023-017A	303.5	304	0.5	0.17
SB-2023-017A	304	305	1	0.06
SB-2023-017A	305	306	1	0.03
SB-2023-017A	306	307	1	1.31
SB-2023-017A	307	308.25	1.25	0.31		BK Vein Halo
SB-2023-017A	308.25	308.8	0.55	2.83
SB-2023-017A	308.8	309.55	0.75	0.86
SB-2023-017A	309.55	310.05	0.5	3.87		BK Vein
SB-2023-017A	310.05	310.55	0.5	69.80
SB-2023-017A	310.55	311.05	0.5	1.45
SB-2023-017A	311.05	312	0.95	0.23		BK Vein Halo
SB-2023-017A	312	312.6	0.6	2.64		BK Vein Halo
SB-2023-017A	312.6	314	1.4	0.31
SB-2023-017A	314	314.5	0.5	0.12

Notes: Diamond drill hole SB-2023-006 has a collar orientation of Azimuth 197; Dip -62. Diamond drill hole SB-2023-007 has a collar orientation of Azimuth 145; Dip -74.5. Diamond drill hole SB-2023-017A has a collar orientation of Azimuth 244; Dip -54.5. True widths are estimated at 40 – 90% of intercept lengths and are based on oriented core measurements where available. Method Reported includes the most up-to-date information as of the date of this press release.

All reported drill assay results are available on the Company’s website.

For further information, please contact:

Qualified Person

The technical information contained in this news release relating to the drill results at the Bralorne Gold Project has been approved by Leonardo de Souza (BSc, AusIMM (CP) Membership 224827), Talisker’s Vice President, Exploration and Resource Development, who is a “qualified person” within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Talisker Resources Ltd.

Talisker (taliskerresources.com) is a junior resource company involved in the exploration and development of gold projects in British Columbia, Canada. Talisker’s flagship asset is the high-grade, fully permitted Bralorne Gold Project where the Company is currently transitioning into underground production at the Mustang Mine. Talisker projects also include the Ladner Gold Project, an advanced stage project with significant exploration potential from an historical high-grade producing gold mine and the Spences Bridge Project where the Company holds ~85% of the emerging Spences Bridge Gold Belt, and several other early-stage Greenfields projects.

Sample Preparation and QAQC

Drill core at the Bralorne Gold Project is drilled in HQ to NQ size ranges (63.5mm and 47.6mm, respectively). Drill core samples are a minimum of 50 cm and a maximum of 160 cm long along the core axis. Samples are focused on an interval of interest, such as a vein or zone of mineralization. Shoulder samples bracket the interval of interest such that a total sampled core length of not less than 3m both above and below the interval of interest must be assigned. Sample QAQC measures of unmarked certified reference materials (CRMs), blanks, and duplicates are inserted into the sample sequence and makeup 9% of the samples submitted to the lab for holes reported in this release. ALS Global performs sample preparation and analyses in North Vancouver, British Columbia, Canada and SGS Canada in Burnaby, British Columbia, Canada. Drill core sample preparation includes drying in an oven at a maximum temperature of 60°C, fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 g split to at least 85% passing 75 microns (ALS code PREP-31 / SGS code PRP89). Gold in diamond drill core is analyzed by fire assay and atomic absorption spectroscopy (AAS) of a 50g sample (ALS code Au-AA26 / SGS code GO_FAA50V10), while multi-element chemistry is analyzed by 4- Acid digestion of a 0.25 g sample split with detection by inductively coupled plasma mass spectrometer (ICP-MS) for 48 elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr). Gold assay technique (ALS code Au-AA26 / SGS code FAA50V10) has an upper detection limit of 100 ppm. Any sample that produces an over-limit gold value via the gold assay technique is sent for gravimetric finish (ALS method Au-GRA22 / SGS method GO_FAG50V) which has an upper detection limit of 1,000 ppm Au. Samples where visible gold was observed are sent directly to screen metallics analysis and all samples that fire assay above 1 ppm Au are re-analysed with method (ALS code Au-SCR24 / SGS code – 6 – GO_FAS50M) which employs a 1kg pulp screened to 100 microns with assay of the entire oversize fraction and duplicate 50g assays on the undersize fraction. Where possible all samples initially sent to screen metallics processing will also be re-run through the fire assay with gravimetric finish provided there is enough material left for further processing

Caution Regarding Forward Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance and include statements regarding the Royalty Transaction, including the expected closing date. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Talisker’s current belief or assumptions as to the outcome and timing of such future events. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Talisker. Although such statements are based on reasonable assumptions of Talisker’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title and environmental risks and risks relating to the failure to receive all requisite shareholder and regulatory approvals.

The forward-looking information contained in this release is made as of the date hereof, and Talisker is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Figure 1: Plan view section of holes SB-2023-006, 2023-007 and 2023-17A drilling within the proposed Mustang Mine footprint.