TORONTO, July 17, 2026 (GLOBE NEWSWIRE) -- Talisker Resources Ltd. ("Talisker" or the "Company") (TSX: TSK, OTCQB: TSKFF) is pleased to announce that its wholly-owned subsidiary, Bralorne Gold Mines Ltd. ("Bralorne"), has entered into a loan agreement (the "Loan Agreement") with Two Shores Capital Corp. ("2Shores"). The Loan Agreement provides for a delayed-draw term loan of up to $11.0 million (the "Facility") to fund the acquisition of ore sorting and processing equipment (the "Equipment") for the Company's Bralorne Gold Project in southern British Columbia.
Facility Highlights:
Amount: Up to $11.0 million, comprising an initial advance of $2.4 million (the "Initial Advance") and subsequent advances of up to $8.6 million in aggregate, available in one or more tranches as Equipment purchase milestones are reached.
Use of proceeds: The Initial Advance will reimburse deposits previously paid by Bralorne to Equipment vendors with subsequent advances to be utilized to fund the remaining Equipment purchases.
Term: 36 months from closing, with blended monthly payments of principal and interest fully amortizing the Facility over the term.
Interest rate: 14% per annum on amounts drawn.
Fees: A closing fee of 1% on each advance, withheld from the proceeds of the advance.
Prepayment: The Facility may be prepaid in whole or in part at any time on seven business days' notice, subject to 2Shores receiving a minimum 1.10x multiple on invested capital.
Security: The Facility is secured by a first-priority purchase money security interest which is limited to the Equipment and related insurance proceeds, and supported by a performance bond of up to $5.0 million in aggregate issued by a Canadian surety and a guarantee from Talisker. The Facility places no charge on the Bralorne Gold Project's mineral claims or other project assets.
The Loan Agreement contains covenants, representations, events of default, and conditions to funding customary for a facility of this nature.
Terry Harbort, President and CEO of Talisker stated, "This Facility provides non-dilutive capital for the ore-sorting and processing equipment that is central to our processing strategy at the Bralorne Gold Project. Structuring the financing against the equipment itself, with no encumbrance on our mineral tenure, preserves the strength of our balance sheet as we advance toward our Preliminary Economic Assessment later this year."
For further information, please contact:
Lindsay Dunlop
Vice President, Investor Relations
lindsay.dunlop@taliskerresources.com
+1 647 274 8975