Terry Harbert

Talisker Resources – Operations, Development, & Exploration At Bralorne, Bralorne West, and Mustang

First direct-ship ore delivery from Bralorne to Ocean Partners on August 24 closed Talisker's logistics chain, with bulk shipments now every couple of months. Underground development at Bralorne, Bralorne West, and Mustang totaled 2,365 meters this year, including a first crosscut into the BK vein showing visible gold. A Q4 PEA is imminent, supported by a doubled Mineral Resource Estimate and real costs from current production, giving investors independent third-party validated economics. XRT ore sorter testing rejected 57-67% of waste, upgraded gold grade 2.0x to 2.5x, and recovered 84-87% of contained gold. Long-term vision targets 200,000 ounces annually from a district-scale operation spanning Mustang, Mustang West, Bralorne West, and Olympus.

Talisker Resources – Continuous 127m Strike Length Averaging 22 g/t Gold on 1045 Level At Mustang

• Top takeaway He argues the 1045-level results on the BK9870 vein - nearly 130 metres at 21.5 g/t gold, about 30 metres from the earlier BK vein - have rewritten expectations after the prior 60-metre strike at 27 g/t, and stresses these are the first results from a level Talisker developed itself.
• He says the data validates the thesis Bralorne has always been famous for - high grade and structural, horseshoe-like continuity - and that his mining team does not chase veins, simply developing ahead as the structures keep giving high-grade face after face; stoping has started between the 1045 and 1060 levels.
• He frames sample-to-mill turn-around as a couple of months: finish a level's lateral development, then blast and stop it, with the 1045 being trucked now and the decline heading down toward the 1015 level.
• On ore sorting he is explicit that the goal is removing waste blended into narrow-vein material so the same tonnes carry higher grade and better recovery to partner Ocean Partners; he says the bulk sample tested with TOMRA at the University of Saskatchewan was very conducive to sorting, with results expected within about a week of the July 23, 2026 recording.
• His investment thesis is district-scale: with the July 13 Ben Nevis step the package is about 24,000 hectares and just over 40 km along strike, he points to potential for 5 to 8 million ounces at the centre of Bralorne plus half-million to one-million-ounce satellites trucked to a central facility, and asks investors to judge the company on a longer view than the assessment due in September and October.

Talisker's CEO says 127 metres averaging 21.5 g/t (grams per tonne) gold at Mustang confirms grade and continuity are improving with depth. Ore sorting equipment, funded by an $11 million loan, should cut blended waste rock and raise the grade of ore trucked from H1 2027. The Ben Nevis purchase extends Bralorne to 24,000 hectares along 40 km of strike, supporting a hub-and-spoke plan with a central processing facility. Roughly 85,000 metres of drilling is directed at converting known resource into mineable reserves rather than chasing new discovery. Management expects a significant increase in both revenue and gold production when second-quarter results are released.

Talisker Resources Updates Market with Doubled Gold Resource at Bralorne Project

• Top takeaway The CEO presents the doubled resource (about 3.4 million ounces) as proof Talisker executes on its promises, noting the company went from first drill hole to production within five years and exceeded its own 800,000 to 1,000,000 ounce growth guidance.
• He argues Bralorne is a world-class camp with potential to grow to 5 million ounces or beyond, calling the new resource a step toward that stated vision.
• His strategy is to stay in production and cashflow through ore sales (toll milling, direct shipping to Ocean Partners) until Talisker builds its own mill, then develop satellite deposits to truck into a central facility.
• He contends this fast-track model skips the 'Lassonde curve' value-losing quiet phase, building a cash pool during what is normally a no-revenue permitting and construction period.
• His near-term commitments: ore-sorting facility construction starting within about a month, an updated mine plan and PEA out by September 2026, and steady drill results from the 100,000-meter program.

Talisker's updated Bralorne mineral resource estimate (an inventory of in-ground gold) added 1.4 million ounces to reach 3.4 million, exceeding management's expectation. The larger resource feeds an updated mine plan and a preliminary economic assessment (early-stage project economics) due in September 2026. Direct ore sales (crushed ore sold unprocessed to trader Ocean Partners) generate early cash flow, avoiding the Lassonde curve's pre-production value dip. A 100,000 metre drill program mostly converts existing resources to support the mine plan, with new exploration at Congress and Pioneer Deeps. Management points to a five million ounce camp vision and a production-within-five-years track record as drills keep turning at Bralorne.