Talon Metals Declines Option to Purchase the Tamarack Project

Talon Metals (TSX: TLO) (“Talon” or the “Company”) is pleased to provide an update on the Tamarack Nickel-Copper-PGE project (“Tamarack Project”), located in Minnesota, USA.  The Tamarack Project is comprised of the Tamarack North Project and the Tamarack South Project.  Talon currently owns an 18.45% interest in the Tamarack Project.
As previously announced, Talon’s wholly owned subsidiary, Talon Nickel (USA) LLC (“Talon Nickel”), was granted the exclusive option (the “Purchase Option”) to purchase Kennecott Exploration Company’s (“KEX”) 81.55% interest in the Tamarack Project (which would give Talon Nickel a 100% interest in the Tamarack Project) for a total purchase price of US$114,000,000.
After much consideration, Talon Nickel has elected not to exercise the Purchase Option, and has advised KEX accordingly.

Pursuant to the Exploration and Option Agreement between KEX and Talon Nickel, the parties are now required to enter into the previously agreed upon Mining Venture Agreement within the next 90 days.

Click here to read the full text release.