Talon Metals Corp. (TSX: TLO) is pleased to announce that it has entered into an unsecured non-convertible promissory note in the amount of USD$1,000,000 with Resource Capital Fund VI LP.

The Promissory Note matures on November 25, 2018 and carries an interest rate of 12% per annum. No finder’s fees or other commissions or fees are payable in connection with the issuance of the Promissory Note. The proceeds of the Promissory Note will be used for general working capital purposes.

RCF is a “related party” of the Company pursuant to Multilateral Instrument 61-101- Take Over bids and Special Transactions and as such, entering into the Promissory Note is a “related party transaction” within the meaning of MI 61-101. The Company is not required to obtain a formal valuation in connection with the Promissory Note and in accordance with section 5.7(f) of MI 61-101, is not required to obtain minority shareholder approval prior to entering into the Promissory Note as the Promissory Note is non-convertible and is on reasonable commercial terms that are not less advantageous to the Company than if the Promissory Note was obtained from an arm’s length provider.

The Company did not file a material change report more than 21 days before entering into the Promissory Note, as the details of the transaction were not finalized until immediately prior to the execution of the Promissory Note and the Company wished to close the transaction as soon as practicable for sound business reasons.

The TSX has accepted notice of the Promissory Note subject to certain standard conditions.

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.