NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Talisker Resources Ltd. (“Talisker” or the “Company”) (TSX:TSK | OTCQX:TSKFF) is pleased to announce that further to its press release of July 29, 2024 in connection with a non-brokered private placement (the “Offering”) to raise up to $2 million in gross proceeds, the Company has received additional interest and is increasing the Offering to up to $2.3 million (the “Upsized Offering”).

The Upsized Offering will comprise of up to 5,750,000 units of the Company (each a “Unit”) at a price of $0.40 per Unit (the “Issue Price”) for gross proceeds of up to approximately $2.3 million. Each Unit will consist of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.60 for a period of 24 months after the closing of the Upsized Offering.

The Upsized Offering is scheduled to close on or about August 12, 2024, and is subject to customary conditions, including the receipt of all necessary regulatory approvals (including the approval of the Toronto Stock Exchange).

In consideration for their services, the Company has agreed to pay certain finders a cash fee equal to 6.0% of the gross proceeds from the Upsized Offering and to issue the finders non-transferable warrants (“Finder’s Warrants”) equal to 6.0% of the aggregate number of Units issued under the Upsized Offering. Each Finder’s Warrant will be exercisable into a Common Share at a price of $0.46 per Common Share for a period of 24 months from the closing of the Upsized Offering.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For further information, please contact:

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.