News Release

TSX:TLO

TALON METALS WINTER 2016 EXPLORATION UPDATE: SIGNIFICANT MASSIVE SULPHIDE INTERCEPTS AT TAMARACK

Road Town, British Virgin Islands (June 2, 2016) - Talon Metals Corp. ("Talon" or the "Company") (TSX: TLO) is pleased to provide an update on the Tamarack Nickel-Copper-PGE project ("Tamarack Project"), located in Minnesota, USA. The Tamarack Project comprises the Tamarack North Project and the Tamarack South Project. Talon owns an 18.45% interest in the Tamarack Project.

Kennecott Exploration Company ("KEX") drilled nine holes during the winter 2016 exploration program at the Tamarack Project. Assays or partial assays have been received for five holes, which are reported in this press release (see also Annexes A and B).

"The winter 2016 exploration program has been extremely successful at Tamarack with significant, additional massive sulphide intercepts in the Tamarack Zone. A step-out in the 221 Zone, located approximately 1.6 km to the northeast of the Tamarack Zone, intercepted further massive sulphides. The second hole in the 218 Area of the Neck at the Tamarack South Project, located approximately 3.8 km southeast of the Tamarack Zone, drilled a significantly wider intercept of disseminated to blebby sulphide mineralization compared to the first hole, confirming the exploration potential of this area", said Henri van Rooyen, CEO of Talon. "We look forward to continued exploration success during the summer 2016 exploration program".

2016 Tamarack Winter Exploration Program

As previously reported in the Company's press release dated February 24, 2016, KEX planned an initial seven to nine hole 2016 winter exploration program focussed on three principal areas, being: (1) the Tamarack Zone (2) the Neck Zone; and (3) the 221 Zone. Assays or partial assays have been received for five holes, with the remaining assays being expected over the next month (see Figure 1 and Annexes A and B).

Figure 1: Plan view of current QA/QC assay status for holes from the winter 2016 exploration program.

1) Tamarack Zone

Drill hole 16TK0235, located approximately 180 meters to the north of drill hole 14TK02111, intercepted 10.83 meters of mixed massive sulphides grading 4.90% nickel ("Ni"), 2.47% copper ("Cu"), 0.76g/t PGE and 0.14g/t gold ("Au").

The objective of the winter program at the Tamarack Zone was to extend mineralization north of the massive Ni-Cu-PGE sulphide mineralization intercepts in drill holes 14TK02111 (15.94 meters total) and 14TK02131 (17.34 meters total). Hole 16TK0235 was drilled through the center of a downhole electromagnetic ("DHEM") plate modeled after hole 12TK0163 (see Figure 2).

Figure 2: Plan view of the Tamarack Zone, showing drill hole 16TK0235 which was drilled approximately through the center of a DHEM plate from hole 12TK0163

Drill hole 16TK0235A was drilled west from drill hole 16TK0235 (using a wedge). Approximately 11 meters of Mixed Massive Sulphides ("MMS") have been intercepted. Assays are pending (see Figure 3). Recent DHEM data is currently being interpreted to determine if massive Ni-Cu-PGE sulphide mineralization extends further to the north with the view of following up through further drilling during the summer 2016 drill program.

1 This drill hole was part of a previous exploration program at the Tamarack North Project and the massive Ni-Cu-PGE sulphide mineralization intercepted in this drill hole forms part of the Company's resource estimate for the Tamarack North Project with an effective date of April 3, 2015. The entire resource estimate sits within the Tamarack Zone.

Figure 3: Section looking north. Drill hole 16TK0235A (assays pending), which intercepted MMS approximately 7 meters to the west of drill hole 16TK0235

Drill hole 16TK0234 intercepted 5.05 meters of MMS grading 4.49% Ni, 1.86% Cu, 1.11g/t PGEs and 0.27g/t Au.

The objective of drilling hole 16TK0234 was to determine if the massive sulphide Ni-Cu-PGE mineralization in the Tamarack Zone extends to the massive sulphide Ni-Cu-PGE mineralization below the 138 Zone, where it was previously intercepted in drill holes 12TK01531 (12.19 meters) and 13TK01711 (7.74 meters). Hole 16TK0234 is located approximately 128 meters to the southeast of drill hole 09TK095 (see Figure 4), the most southern drill hole that forms part of the Massive Sulphide Unit ("MSU") in the Tamarack Zone, and approximately 58 meters to the northwest of drill hole 13TK0153 in the 138 Zone (see Figure 4).

This intercept reduces the gap between the MSU in the Tamarack Zone and the MSU below the 138 Zone. A current DHEM interpretation to the west of drill hole 16TK0234 suggests the potential extension of mineralization across the remaining gap, and therefore, follow-up drilling will attempt to intercept the new DHEM plate (see Figure 4).