Tirzzit Update

Talisman Metals PLC

27 April 2026

 

Talisman Metals PLC

("Talisman" or the "Company")

Tirzzit Update

Talisman Metals PLC ("Talisman" or the "Company") reports it has collected 7 channel samples at the Tirzzit Project ("Tirzzit" or the "Project"), for a total length of 23m and 38 Trench samples including 5 QAQC samples and 3 Grab samples which have been sent for assaying.

The first phase of fieldwork at Tirzzit consists of testing the grade and thickness of mineralisation along strike, from west to east, on outcrop in order to confirm:

·    lateral continuity;

·    historical Copper (Cu) and Silver (Ag) grades; and

·    the location of thicker intervals for channel sampling at approximately 100m spacing, using a Jacob staff to determine true thickness and improve understanding of the controls on mineralisation.

The initial 700m of strike targeted a horizon 1 to 5m thick from surface, exhibiting malachite mineralisation at surface (see Figure 1 and 3) amongst the 4.6 kilometres mineralized horizons that has been historically identified.

The next phases of sampling will include:

·    continuing channel sampling of the basal series from west to east, from Licence LE393478 to LE393507;

·    channel sampling of the basal series within historical adits developed by the BRPM;

·    conducting mapping of the lower limestone units to identify gossans, followed by grab sampling-initially above historically successful drill holes and subsequently across untested areas; and

·    infill sampling of historical stream sediment coverage within previously untested watersheds.

·    The preparation of a drill programme to redrill historical short holes that have missed mineralisation and drill out open extensions of mineralisation.

Tim McCutcheon, Talisman's CEO stated, "Tirzzit is a great opportunity for Talisman, and with our team in the field after finishing up preliminary work at Fougnar (see press releases of February 24, March 17 and April 16, 2026), we deployed them to Tirzzit for a quick sampling foray to test obvious mineralisation targets. I look forward to sharing with the market the assay results of this work as soon as possible."

About The Tirzzit Project

The Tirzzit Project (See Figure 2) is a sediment-hosted stratiform Cu-Ag system, located 225km east of the city of Agadir, Morocco. The acquisition transaction of the Project was announced February 16, 2026 (see press release) from a wholly owned subsidiary of Aya Silver & Gold Inc. (TSX: AYA; OTCQX: AYASF) ("Aya"), the Company's 4.7% shareholder. The Project consists of two mining licenses ("ML's") covering a surface area of 16.5km². Historic drilling results as reported by Moroccan Government agency Bureau of Research and Mining Participations (BRPM) between 1972 and 1976 ("BRPM Reports"), include drill intersections of 3.16% Cu over 2.5m and 0.60% Cu over 11.4m. Presently the Company is reviewing the extensive BRPM Reports and past collected geophysical data for exploration planning slated to commence in 2H2026. Talisman is processing with Aya the formal transfer of the Tirzzit licences on the back of the acquisition agreement announced February 16, 2026.

Figure 1: Picture of channel sample (visible malachite mineralisation in photo).

Figure 2: Location Map of Tirzzit Project

Figure 3: Map of channel sample location

Qualified Person

The technical disclosure in this news release has been approved by Fabien Linares, MSc, MAusIMM, a Qualified Person as defined in JORC 2012. The scientific and technical information summarized in this disclosure and related to historic exploration was reviewed by Mr. Linares and he has visited the Project area. Mr. Linares is Head Geologist of Talisman Metals PLC and has sufficient experience that is relevant to the commodity, style of mineralisation or type of deposit under consideration and activity which he is undertaking to qualify as a Competent Person under the JORC code (2012 Edition).

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For further information:

Talisman Metals PLC

Tim McCutcheon (Chief Executive Officer and Director)

Tel [phone]

[e-mail]

Beaumont Cornish Limited (Nominated Adviser)

James Biddle / Roland Cornish

Tel: [phone]

CMC Markets UK Plc (Broker)

Thomas Smith / Thomas Curran

Tel: [phone]

BlytheRay (Financial PR)

Megan Ray / Said Izagaren

Tel: [phone]

[e-mail]

JORC Code (2012) - Historical Exploration Results Disclaimer

The information in this announcement that relates to historical reported exploration results is based on, and fairly represents, information and supporting documentation prepared by previous operators and/or extracted from historical reports.

The historical exploration results referred to in this announcement were reported prior to the introduction of the JORC Code (2012) and have not been reported in accordance with the JORC Code (2012).

A Competent Person has not done sufficient work to disclose the historical exploration results in accordance with the JORC Code (2012). It is possible that following further evaluation and/or exploration work, the accuracy and reliability of the historical exploration results may not be confirmed.

The Company has not independently verified the historical exploration results, and no assurance can be given that future exploration work will result in the confirmation or upgrade of the historical results to JORC Code (2012) compliant Mineral Resources or Ore Reserves.

The Company considers the historical exploration results to be relevant as they provide an indication of the potential of the project. However, the information should not be relied upon as a representation of the current mineral resource or exploration potential.

Technical Glossary

Adit	A nearly horizontal passage driven from the surface into a hillside or orebody, used to access mineralisation, facilitate drainage, provide ventilation, and enable the transport of personnel, equipment, or ore.
Ag	Silver
Cu	Copper
Channel sampling	A systematic sampling method in which a continuous, linear sample is collected across an exposed rock face or outcrop, typically perpendicular to the mineralised structure, to obtain a representative measure of grade over a defined width. The sample is usually cut or chipped along a uniform channel to reflect the true thickness and composition of the mineralised interval.
Gossan	Intensely oxidized, weathered or decomposed rock.
Grab sampling	A selective sampling method involving the collection of individual rock fragments from outcrop, float, or mine workings, typically chosen for their visual mineralisation. Grab samples are not representative of the overall grade but are used as a rapid, qualitative tool to identify the presence of mineralisation and guide further exploration.
Jacob staff	A graduated measuring rod, commonly used with a compass or clinometer, to determine the true thickness of geological units and to measure stratigraphic sections, particularly on inclined or uneven outcrop surfaces.
Malachite	A secondary copper carbonate hydroxide mineral (Cu₂CO₃(OH)₂), typically bright green in colour, formed by the weathering and oxidation of primary copper sulphides. It commonly occurs as coatings, vein fillings, or disseminations in the oxidised zones of copper deposits and is widely used as an indicator of near-surface copper mineralisation.

Nominated Adviser Statement

Beaumont Cornish Limited ("Beaumont Cornish"), is the Company's Nominated Adviser and is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other person for providing the protections afforded to customers of Beaumont Cornish nor for advising them in relation to the transaction and arrangements described in the announcement or any matter referred to in it.

 

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