Talisker Provides Notice to Convertible Debenture Holders Reducing Debt by $5.1 Million

TORONTO, — Talisker Resources Ltd. (“ Talisker ” or the “ Company ”) (TSX: TSK, OTCQB: TSKFF) is pleased to announce that it has exercised its right to convert all of the outstanding principal amounts of its Convertible Debentures (as defined below) into common shares of Talisker (“ Shares ”).

Talisker issued a $4 million convertible debenture on October 9, 2024 to Phoenix Gold Fund (the “ Phoenix Debenture ”) and a $1.1 million convertible debenture on November 7, 2024 to Spartan MM Fund (the “ Spartan Debenture ” and together with the Phoenix Debenture, the “ Convertible Debentures ”), which provide Talisker with a conversion right if the closing price of the Shares on the Toronto Stock Exchange (the “ TSX ”) is at least 130% of the applicable conversion price for each of the 20 trading days before a notice of conversion is delivered to the holder. As a result of the closing price of the Shares on the TSX exceeding these thresholds, the Company elected to convert all the outstanding principal amount of the Phoenix Debenture into 8,000,000 Shares and all the outstanding principal amount of the Spartan Debenture into 1,964,285 Shares, which Shares shall be issued as of October 8, 2025 in satisfaction of the principal amounts owing under the Convertible Debentures. The Convertible Debentures also provide Talisker with a right to identify a purchaser if the holder of such Shares wishes to sell any Shares.

For further information, please contact:

Lindsay Dunlop
Vice President, Investor Relations
lindsay.dunlop@taliskerresources.com
+1 647 274 8975

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