Talon Metals Corp. (TSX: TLO) (OTC Pink: TLOFF) ("Talon" or the "Company"), the majority owner and operator of the Tamarack Nickel-Copper-Cobalt Project ("Tamarack Nickel Project") in central Minnesota, commends President Joe Biden and the U.S. Congress for passing bipartisan infrastructure legislation (H.R. 3684, Infrastructure Investment and Jobs Act). President Biden signed the bipartisan legislation into law today. The legislation contains significant funding support for electric vehicle ("EV") adoption, EV battery charging infrastructure and over US $6 billion for developing battery materials processing capacity in the U.S., including nickel. In a separate but related development, the Biden Administration last week moved to add nickel to the U.S. Critical Minerals List as part of a comprehensive review of supply chain security in critical minerals.
Henri van Rooyen, CEO of Talon, said: "The bipartisan infrastructure bill is a major contribution to the competitive position of the United States in the transition to clean transportation. It invests significantly in transportation infrastructure, support for electric vehicle adoption and charging infrastructure in addition to over $6 billion for EV battery materials and critical mineral processing. This funding will help jump-start North America's developing battery supply chain from mine to recycling."
Van Rooyen continued: "Members from both parties backed funding for critical minerals processing, which will allow the U.S. to leap-frog legacy processing approaches and deploy modern, lower carbon technology at large scale to ensure security of domestic supply in essential battery materials like nickel. Talon is ready to work with potential technology partners and the U.S. government to build nickel processing capacity that will establish the U.S. as a global leader in battery manufacturing for both EVs and energy storage. Congress has recognized the potential of a critical mineral supply chain crisis at just the right time and acted to secure U.S. leadership in critical minerals. The Biden Administration has also prudently moved to add nickel to the U.S. Critical Minerals List, which will help to ensure that nickel mining and processing is a priority."
Talon's Head of Climate Strategy Todd Malan commented: "The bipartisan infrastructure bill not only supports U.S. leadership in EV battery materials, but it also provides significant funding for Direct Air Capture and carbon storage. Negative emissions technology like Direct Air Capture coupled with permanent storage like carbon mineralization is another strategic investment in the fight against climate change. Given its unique geology, Minnesota can be at the forefront of this new approach."
Talon and Carbon Capture Inc. recently entered into an agreement covering the testing of Carbon Capture's U.S.-developed, low-cost Direct Air Capture technology at the Tamarack Nickel Project in Aitkin County, Minnesota. Talon is conducting fundamental R&D on carbon reactive rocks in the Tamarack Intrusive Complex to convert carbon dioxide captured from the atmosphere to solid rock form for purposes of carbon storage. Talon believes that mine tailings from a future underground mine at the Tamarack Nickel Project used as backfill material will have the natural capability to convert carbon to solid form. Carbonated tailings could both help secure mine operations and store significant amounts of carbon in stone form. Talon expects to provide regular updates to regulators, community members and investors on carbon mineralization studies.
Talon is a TSX-listed base metals company developing the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota. Talon has an earn-in to acquire up to 60% of the Tamarack Project, and currently owns 51% of the Tamarack Project. The Tamarack Project comprises a large land position (18km of strike length) with numerous high-grade intercepts outside the current resource area. Talon is focused on expanding its current high-grade nickel mineralization resource prepared in accordance with NI 43-101; identifying additional high-grade nickel mineralization; and developing responsible processing capabilities in the United States. Talon has a well-qualified exploration and mine management team with extensive experience in project development. For additional information on Talon, please visit the Company's website at www.talonmetals.com.
This news release contains certain "forward-looking statements". All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Such forward-looking statements include statements relating to the addition of nickel to the U.S. Critical Minerals List, the development of battery materials processing capacity in the US, the US becoming a global leader in battery manufacturing, the priority of nickel mining and processing in the US, the belief that mine tailings from the Tamarack Project have the natural capability to convert carbon to solid form and store significant amounts of carbon, the provision of regular updates to regulators, community members and investors on carbon mineralization studies. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.