Business
Talon Metals Receives an Extension in Respect of Its Option to Purchase the Tamarack Project
Road Town, British Virgin Islands--(Newsfile Corp. - November 3, 2017) - Talon Metals Corp. (T...
About this update from Talon Metals Corp.
[{"type":"text","content":"Talon Metals Receives an Extension in Respect of Its Option to Purchase the Tamarack ProjectRoad Town, British Virgin Islands--(Newsfile Corp. - November 3, 2017) - Talon Metals Corp. (TSX: TLO) (\"Talon\" or the \"Company\") 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 currently owns an 18.45% interest in the Tamarack Project.As previously announced on September 25, 2017, Talon's wholly owned subsidiary, Talon Nickel (USA) LLC (\"Talon Nickel\"), has received the exclusive option (the \"Purchase Option\") to purchase Kennecott Exploration Company's (\"KEX\") 81.55% interest in the Tamarack Project (which would give Talon Nickel a 100% interest in the Tamarack Project) on the terms and conditions set forth under the Exploration and Option Agreement between KEX and Talon Nickel (the \"Exploration and Option Agreement\"). Previously, Talon Nickel had until November 6, 2017 to make an election as to whether it will exercise the Purchase Option. However, following a request by Talon for an extension of time to make its election, KEX has agreed to grant Talon Nickel until December 31, 2017. In return for this accommodation by KEX, Talon Nickel has agreed to grant KEX a 0.5% NSR in the event Talon Nickel exercises the Purchase Option. About Talon Talon is a TSX-listed company focused on the exploration and development of the Tamarack Nickel-Copper-PGE Project in Minnesota, USA (which comprises the Tamarack North Project and the Tamarack South Project). The Company has a well-qualified exploration and mine management team with extensive experience in project management. For additional information on Talon, please visit the Company's website at www.talonmetals.com or contact: Sean WergerPresidentTalon Metals Corp.Tel: (416) 361-9636 x102Email: [email protected] Statements This news release contains certain \"forward-looking statements\". All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company b...