Talamore Mining Corporation (TSX-V: TALA) (OTCQB: TALMF) is pleased to report the results of a mineral resource estimate update at its wholly-owned Cristina polymetallic vein project in southwestern Chihuahua State, Mexico. The Project lies within the prolific Sierra Madre gold-silver belt in the state of Chihuahua, Mexico. It consists of multiple outcropping quartz veins, stockwork veins, and breccias that are frequently greater than 10 metres in width and extend for a currently known strike length of up to 5 km. At least four parallel mineralized vein systems have been mapped to date; however, most of the resource estimate reported in this release is contained within the Guadalupe vein (Figures 1-3), which has been the primary focus of drilling completed on the Project. These results reflect drilling up to April 1, 2025. The MRE was prepared under the supervision of John Sims CPG (an Independent Qualified Person), President of Sims Resources LLC.

Highlights

• Indicated resources of 17.5 Mt at 0.58 g/t gold, 33.29 g/t silver, 0.50% zinc, 0.18% lead and 0.04% copper (1.41 g/t gold-equivalent grade), for a contained 795,000 AuEq ounces.
  • A 6% increase in contained AuEq ounces, and a 4% increase in AuEq grade from the 2023 MRE.
• Inferred resources of 33.0 Mt at 0.50 g/t gold, 23.76 g/t silver, 0.50% zinc, 0.18% lead and 0.05% copper (1.17 g/t AuEq grade), for a contained 1,243,000 AuEq ounces.
  • A 62% increase in contained AuEq ounces, and a 12% decrease in AuEq grade from the 2023 MRE.
• The bulk of the resource comes from the Guadalupe vein system, which is just one of the four major vein systems on the property that have been tested by drilling to date. All of the vein systems remain open at depth and along strike, with strong potential for continued resource growth.
• In addition to the resource update cited above which focused on maximizing the open pit resources, a sensitivity analysis looked at two alternative scenarios, the first prioritizing underground resources with smaller open pits, and the second considering only underground resources. These indicate excellent potential for alternative development scenarios for the Project.

Talamore’s CEO, Tim Warman, commented: “This latest resource update has validated our strategy of targeting higher-grade zones at Cristina, which are amenable to both open pit and underground mining. An improved understanding of the Cristina vein system has allowed our team to update the geological model, apply more stringent estimation parameters for classifying the resource, and still add significantly to both tonnes and grade. The Cristina deposit remains open along strike and at depth along all four of the major vein systems, with excellent potential for continued growth through future drilling programs. While our focus remains on developing our Coffee Gold project in the Yukon, Cristina allows us the option to build the resource base through low-cost drilling, especially during the winter months.”

MRE Update Summary

The Mineral Resource Estimate update for the Cristina deposit was completed under the supervision of John Sims, a member of the American Institute of Professional Geologists, and an “Independent Qualified Person” as defined by NI 43-101 guidelines.

Table 1. Cristina 2026 Updated Mineral Resource Estimate

Notes to Table 1:

1. Mineral resources are not Mineral Reserves and have not demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
2. The Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum, CIM Standards on Mineral Resources and Reserves. Definitions and guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
3. kt are 1000 metric tonnes; koz are 1,000 troy ounces; klbs are 1,000 imperial pounds; g/t are grams per metric tonne. Numbers may not add due to rounding.
4. Gold-equivalent grades consider metals prices, process recoveries, and smelter payabilities, and were calculated using the following formula, where PF = Metal Price Factor and RecPay = Recovery + Payability:
   1. AuEq (g/t) = Au (g/t) + [Ag (g/t) x PF (Ag/Au) x RecPay Ratio (Ag/Au)] + [Cu (%) x PF (Cu/Au) x RecPay Ratio (Cu/Au)] + [Pb (%) x PF (Pb/Au) x RecPay Ratio (Pb/Au)] + [Zn (%) x PF (Zn/Au) x RecPay Ratio (Zn/Au)] or, simplified:
   2. AuEq (g/t) = Au (g/t) + [Ag (g/t) x 0.0171] + [Cu (%) x 1.0505] + [Pb (%) x 0.2648] + [Zn (%) x 0.3352]

MRE block models were constructed and classified using a drilling cut-off date of April 1, 2025 and are based on approximately 84,106 metres of diamond drilling in 273 drill holes, including 13,919 metres drilled by Fuerte (now Talamore) since the January 2023 MRE. Open pit estimation was completed using the Hochbaum Pseudoflow algorithm in Datamine’s Studio NPVS on a single 5 x 5 x 5 m selective mining unit (SMU) block model covering the entire project area. The underground estimate was generated using the Mineable Stope Optimizer (MSO) algorithm on two 2.5 x 2.5 x 2.5 m block models – one constructed for the northern project area (La Cenicera, El Carmen, San Francisco, and Los Ingleses), and the other constructed for the southern project area (Guadalupe and Mexico Libre). The selected interpolation methodology for gold, silver, copper, lead, and zinc in all block models was Inverse Distance Cubed (ID3). The effects of potentially anomalous high-grade sample data are controlled using traditional top-cutting.

Indicated resources were classified based on a drill data spacing of 40 m or less for the open pit model and 35 m or less for the underground models; Inferred resources were classified based on a drill data spacing of 80 m or less for the open pit model and 70 m or less for the underground models. Model validation checks for the final reported ID3 estimates include statistical validation using Ordinary Kriging (OK) and Nearest Neighbor (NN) estimates, Swath plot comparisons between composite data and the three estimation methods, and visual validation on cross sections and plan levels.

The MRE is based on metal prices of US$2,400/oz Au, US$40.00/oz Ag, US$1.30/lb Zn, US$1.00/lb Pb and US$4.50/lb Cu. Open pit Resources were tabulated considering blocks above a US$13.25/t Net of Smelter Return (NSR) cutoff contained within an economically constrained pit shell, while underground Resources were tabulated considering stopes above a US$63.00/t NSR cutoff, unless otherwise stated in the inventory sensitivities outlined in this release. Appropriate estimates for metal recoveries and treatment and refining charges were applied when calculating the NSR values and are unchanged from those found in the 2023 Technical Report titled “Technical Report on the Mineral Resource for the Cristina Project Located in Chihuahua, Mexico”.

Mining and processing inputs used to constrain the Mineral Resource estimates include process costs of US$9.00/t processed, G&A of US$2.00/t processed for the open pit model and US$4.00/t for the underground models, open pit mining costs of US$2.25/t of ore and US$2.00/t of waste, a pit slope angle of 50 degrees, and underground mining costs of US$50.00/t. A 1% royalty rate was also applied.

Figure 1. Resource Pits and Stopes for 2026 Cristina Mineral Resource Estimate

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Figure 2. Illustrative Section Showing Open Pit and Underground Resources in the Guadalupe Vein

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Sensitivity Case 1: Underground Mining Only

Cristina is also amenable to a more substantial underground mining approach. In the following sensitivity table (table 2), Cristina is assumed to be mined by underground methods only, at an NSR cutoff grade of US$113/t (US$50/t above the breakeven NSR cutoff).

Figure 3. Stope Location in an Underground Only Scenario

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Table 2. Sensitivity Case 1: Underground Only Scenario

Notes to Table 2:

1. Any inventory sensitivities presented are in lieu of, and not in addition to, the 2026 MRE inventories. The inventor sensitivity presented in Table 2 considers all stopes reported at an elevated NSR cutoff grade of US$113.00 per tonne, US$50 per tonne above the breakeven NSR cutoff.

Sensitivity Case 2: Underground Mining Prioritized

In addition to the reported MRE pit, computed at a revenue factor of 100%, a series of pit shells were computed at 5% revenue increments to determine whether opportunities exist to prioritize underground mining and select a smaller pit shell with higher grades and lower strip ratio than the RF100% pit. The sensitivity outlined in Table 3 illustrates a scenario in which the northern area is mined with the RF100% pit shell, but the southern area is mined using the RF65% pit shell. Stopes outside these pits and above an NSR cutoff grade of US$113/t (US$50/t above the breakeven NSR cutoff) would then be mined upon completion of open pit mining.

Figure 4. Pit and Stope Locations in Underground Mining Prioritized Scenario

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Table 3. Sensitivity Case 2: Underground Mining Prioritized Scenario

Notes to Table 3:

1. Any inventory sensitivities presented are in lieu of, and not in addition to the 2026 MRE inventories. The inventory sensitivity presented in Table 3 considers selected pit shells at a 100% revenue factor for the northern area and 65% revenue factor for the southern area. Stopes outside the selected pit shells are reported at an NSR cutoff of US$113.00 per tonne, US$50 per tonne above the breakeven NSR cutoff.

About Talamore Mining

Talamore Mining Corporation (formerly Fuerte Metals Corporation) is a Canadian exploration and development company advancing the Coffee Gold Project in Yukon, Canada.

Coffee is a 100%-owned, open-pit heap leach gold project in the final stages of permitting and engineering, as the Company works toward a construction decision. The project hosts 3.0 million ounces of measured and indicated resources (80 Mt at 1.15 g/t Au) and an additional 0.8 million ounces of inferred resources (21 Mt at 1.17 g/t Au). In addition to Coffee, Talamore holds a portfolio of copper and gold assets in Chile and Mexico, providing longer-term growth potential.

Talamore recognizes that protection of the land and water around the Coffee Gold Project is of central importance to the Trondëk Hwëch’in, White River First Nation, Selkirk First Nation, and the First Nation of Na-Cho Nyäk Dun. From day one, Talamore’s approach is simple: do the work properly and follow through on our commitments.

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