An anonymous representative of Phoenix Gold reports

PHOENIX GOLD FUND AND PANAH FUND, MANAGED BY AIMS ASSET MANAGEMENT SDN. BHD. AND SERAYA INVESTMENT PTE. LTD., REPORT COMBINED HOLDINGS IN TALISKER RESOURCES LTD.

Phoenix Gold Fund and Panah Fund, managed by AIMS Asset Management Sdn. Bhd. of Kuala Lumpur, Malaysia, and Seraya Investment Pte. Ltd. of Purvis Street, Singapore, have disposed of common shares of Talisker Resources Ltd. and, as a result, no longer hold more than 10 per cent of the issued and outstanding shares of the issuer. The issuer's office is located at Suite 3002, 130 Adelaide St. W, Toronto, Ont., M5H 3P5, Canada.

Immediately prior to the disposition:

• Phoenix, managed by AIMS and Seraya, beneficially owned 4,505,806 common shares of the issuer, representing approximately 3.13 per cent of the issued and outstanding shares of the issuer on an undiluted basis and approximately 2.97 per cent on a partially diluted basis. Phoenix owns convertible debentures with a principal amount of $4-million convertible into up to eight million common shares of the issuer. Assuming full conversion, Phoenix would have owned 12,505,806 common shares of the issuer, representing approximately 8.24 per cent of the issued and outstanding shares of the issuer on a partially diluted basis.
• Panah, managed by Seraya, beneficially owned 2,699,394 common shares of the issuer, representing approximately 1.88 per cent of the issued and outstanding shares of the issuer on an undiluted basis and approximately 1.78 per cent on a partially diluted basis.
• The combined holdings of Phoenix and Panah represented approximately 10.02 per cent of the issued and outstanding shares of the issuer on a partially diluted basis.

As a result of the disposition:

• Phoenix, managed by AIMS and Seraya, now beneficially owns 4,302,706 common shares of the issuer, representing approximately 2.99 per cent of the issued and outstanding shares of the issuer on an undiluted basis and approximately 2.83 per cent on a partially diluted basis. Phoenix continues to hold convertible debentures with a principal amount of $4-million convertible into up to eight million common shares of the issuer. Assuming full conversion, Phoenix would own 12,302,706 common shares of the issuer, representing approximately 8.10 per cent of the issued and outstanding shares of the issuer on a partially diluted basis.
• Panah, managed by Seraya, now beneficially owns 2,496,294 common shares of the issuer, representing approximately 1.73 per cent of the issued and outstanding shares of the issuer on an undiluted basis and approximately 1.64 per cent on a partially diluted basis.
• The combined holdings of Phoenix and Panah now represent approximately 9.74 per cent of the issued and outstanding shares of the issuer on a partially diluted basis.

The holdings above are calculated as of Oct. 2, 2025, assuming no further common shares of the issuer have been issued.

Phoenix and Panah disposed of the securities for investment purposes. Phoenix and Panah may, in the future, participate in financings and/or acquire or dispose of securities of the issuer in the market, privately or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

This press release is being issued pursuant to National Instrument 62-103 and/or National Instrument 62-104. A copy of the early warning report to be filed in connection with the matters set forth herein will be available on SEDAR+ and will be available for viewing under the company's profile.