Tamarack, Minnesota (March 31, 2022) – Talon Metals Corp. (“Talon” or the “Company”) (TSX:TLO/OTC:TLOFF), the majority owner and operator of the Tamarack Nickel-Copper-Cobalt Project (“Tamarack Nickel Project”) in central Minnesota, commends President Biden for adding battery materials including nickel, cobalt and lithium to the extraordinary support available under the Defense Production Act (DPA) Title III program.  The DPA Title III program provides authority for the Administration to use a variety of tools to support domestic production: funding for particular aspects of project development, funding for infrastructure or equipment, and the ability to commit to offtake contracts are just some of the tools that become available once added to the list of national priority industries.  The President’s action today builds on bipartisan support for adding battery materials to the DPA authorities led by Senators Manchin, Murkowski, Cassidy and Risch (Senators Murkowski, Manchin, Risch and Cassidy Urge Administration to Meet Domestic Mineral Demand, Address Supply Chain Crisis (senate.gov)).  Nickel and the other battery materials join rare earths as the only Critical Minerals eligible for DPA Title III support. 

Henri van Rooyen, CEO of Talon said: “President Biden’s action today makes clear that there is a bipartisan consensus that the battery material supply chain, from mine to recycling, is a national priority.”

Van Rooyen continued: “Building on the funding for EV battery material processing and recycling that Congress included in the Bipartisan Infrastructure Bill, this action opens significant support for mining operations, in addition to down-stream processing and battery recycling. Combined with other government programs like the Critical Minerals Institute (CMI) at the Department of Energy, technology and innovation funding from ARPA-e and the work of the U.S. Geological Survey, we are now seeing an urgent ‘whole of government’ approach to addressing both the current U.S. dependence on Russia and China for battery materials and the energy transition imperative.”

Talon’s Head of Climate Strategy Todd Malan commented: “Talon is ready to work with the U.S. Government to bring technology and fresh approaches to discovering and developing new domestic high-grade nickel deposits like the Tamarack Nickel Project, address community concerns about mining operations, and ensure “cradle to cradle” traceability for the infinitely recyclable materials that we hope to produce in Aitkin County, Minnesota.  Working together, we can establish the U.S. as a global leader in responsible mining, processing and recycling of battery materials.”

Malan continued: “Senators Murkowski and Manchin, along with many others in Congress, also deserve credit for advocating and supporting this important step.  Climate change and geopolitical strife has made it clear to Americans that a national response is required.  Addressing these dual imperatives will require more domestic and allied sources of raw materials like nickel, cobalt, copper and battery-grade iron if we are going to achieve these objectives.  We can do this with strong environmental standards and permitting, meaningful consultation with Native American tribal governments, partnerships with our colleagues in unions, and broad-based community engagement.  Hopefully, with a new sense of national purpose, all these objectives can be pursued with a sense of urgency. We need to work together on these solutions at a faster pace than the dual threats of climate change and supply chain insecurity.”