Vancouver, British Columbia--(Newsfile Corp. - October 19, 2026) - Talamore Mining Corp. (TSX: TALA) (OTCQB: TALMF) ("Talamore" or the "Company") marks the first anniversary of closing its acquisition of the Coffee Gold Project ("Coffee" or the "Project") in Canada's Yukon territory from Newmont Corporation on October 17, 2025.

When Talamore acquired Coffee, it took ownership of an advanced gold project supported by more than a decade of drilling, engineering, environmental studies, and assessment work. In the past 12 months, Talamore has worked to turn Coffee into a well-funded, construction-ready development asset on track for a Final Investment Decision ("FID") in the first half of 2027. The Company has been focused on advancing the remaining licences and technical studies, securing the financial capacity to develop the project and assembling the team and oversight needed to execute.

"A year ago, we took ownership of an advanced, well-studied deposit that had been waiting years for an owner committed to building it," said Tim Warman, President and CEO of Talamore Mining. "Today, Coffee has a construction financing package of up to C$688 million, the permit to finish its access road, a world-class construction partner in G Mining Services, and an owner's team with deep Yukon experience. We are grateful for our relationships and ongoing engagement with the Tr'ondëk Hwëch'in First Nation, Selkirk First Nation, White River First Nation, and First Nation of Na-Cho Nyäk Dun and to our shareholders for their support."

Major Advances During First Year

• Construction financing secured: Talamore has assembled a package of up to C$688 million, comprising a C$149.5 million equity offering (closed July 21, 2026), a C$450 million secured project debt facility (closed on October 15, 2026), and potential proceeds of up to C$88 million from a warrant early-exercise incentive program.

• Final access road permit received: The primary Resource Road permit, received in August 2026, allows completion of the 214-kilometre all-season Northern Access Route ("NAR") from Dawson City, which is a significant milestone allowing for major infrastructure to access the Project.

• Remaining mine licences advancing. Having received a positive Yukon Environmental and Socio-economic Assessment Act ("YESAA") decision in 2022, Coffee is now in detailed mine and water licensing. The Type A Water Licence has completed its public comment phase, and the Quartz Mining Licence is completing the Detailed Information Request stage.

• Positive Preliminary Economic Assessment completed: The February 2026 Preliminary Economic Assessment ("PEA") outlined a 13-year open-pit heap leach mine with an after-tax NPV (5%) of US$2.3 billion and an after-tax internal rate of return ("IRR") of 47.8% at consensus gold prices of $4,110/oz for 2029 and $3,620/oz in 2030 and beyond. The study provides an updated technical and economic foundation for the more detailed work now underway.

• Feasibility Study and construction partner in place: G Mining Services ("GMS") is completing the Feasibility Study ("FS"), expected in Q1 2027, and has signed a Memorandum of Understanding ("MOU") to lead mine construction, subject to a positive construction decision and receipt of the remaining permits.

• Early works underway: Road upgrades and new construction on the NAR, a new construction camp, and a new airstrip are advancing at site, setting the stage for the start of full construction in 2027.

• Resource growth and exploration drilling: A 40,000-metre drill program continues to return high-grade intercepts at Supremo Extension, supporting conversion of Inferred ounces to Indicated for the FS. Additional infill drilling was completed at Supremo and Latte with exploration targets at Sugar, Konnexion, Supremo Deep and Ristretto also drill tested, with results pending.

• Heap leach oversight strengthened: NewFields Canada Inc. was appointed Engineer of Record, and an Independent Technical Review Board ("ITRB") was established and reports to Talamore's Board of Directors; its inaugural members are Mark Smith, P.Eng., and metallurgist, John Wells. The Company has also applied to adopt the Mining Association of Canada's Towards Sustainable Mining ("TSM") protocols. These measures introduce multiple layers of independent review and clear technical accountability.

• Owner's team and Board built: Nine senior leaders and four new directors have joined since closing, including a new independent Board Chair.

• New name, senior listing and analyst coverage: The Company changed its name to Talamore Mining Corp. in June 2026, graduated to the Toronto Stock Exchange on August 11, 2026, and has had seven equity analysts pick up coverage of the Company.

"Looking ahead, our focus is on completing the Feasibility Study, advancing the remaining mine licences, completing key site infrastructure, and satisfying the conditions needed to consider a construction decision. We also plan to continue with an aggressive exploration program focussing on continuing infill drilling and testing near mine targets and several highly prospective regional targets within our sizable Property position," says Warman. "While we still have work to complete, the progress made over this past year gives us confidence in the path forward. We know that trust is earned, and we intend to continue building a reputation for our ability to follow through on commitments."

Additional Information

Permitting: Access Road Fully Permitted and Mine Licencing in Final Stages

Mine development in Yukon involves several stages of regulatory review. A positive environmental and socio-economic assessment decision establishes the conditions under which a project may proceed; a project must then obtain the licences and permits governing mining, water use, roads, and other activities.

Coffee entered Talamore's ownership with a positive 2022 decision under the Yukon Environmental and Socio-economic Assessment Act. Over the past year, the Company has focused on obtaining the remaining licences needed to improve road access and begin construction:

• Work in the Right of Way Permit: Issued by Yukon's Department of Highways and Public Works, this permit allowed Yukon-based Cobalt Construction to begin upgrading existing sections of the NAR in June 2026.

• Primary Resource Road Permit: Issued in August 2026 under the Yukon Resource Road Regulations, the permit allows construction that will link roughly 180 km of existing road into an all-season route from Dawson City to site.

• Type A Water Licence: The public comment period closed on September 15, 2026. A public hearing will follow.

• Quartz Mining Licence: The application is completing the Detailed Information Request stage, after which the Yukon government is expected to prepare a draft licence.

Talamore expects to receive the Type A Water Licence and Quartz Mining Licence before the planned FID in the first half of 2027, subject to the applicable regulatory processes.

Figure 1. Road crews building new sections of the 214-kilometre NAR in October 2026.

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Engineering and Project Planning

In December 2025, Talamore engaged WSP to complete a PEA and GMS to complete the FS in parallel. The PEA, released on February 22, 2026, outlined a 13-year open-pit heap leach operation with:

• average production 249,000 ounces of gold per year in the first five full years and 217,000 ounces per year over the life of mine;

• an after-tax NPV (5%) of US$2.3 billion and IRR of 47.8% at consensus gold prices of $4,110/oz for 2029 and $3,620/oz in 2030 and beyond, and an after-tax NPV (5%) of US$4.0 billion and IRR of 67.2% at spot prices at the time.

The FS is expected in Q1 2027 and is planned to incorporate infill drilling results and updated capital and operating cost estimates.

GMS is also engineering critical-path items, supporting procurement planning for long-lead equipment, and supervising early works.

Early Works

Talamore began an early works program in 2026 to prepare infrastructure the project would require in anticipation of a positive FID, derisking the construction schedule. This work includes:

• upgrading existing sections of the NAR and constructing new sections;

• barging equipment and materials to site on the Yukon River during the summer season;

• procurement and mobilization of the construction camp, which will increase site capacity; and

• construction of a new airstrip, which will accommodate larger aircraft and have fewer weather delays and is expected to be operational before year-end.

Figure 2. Early works underway at the Coffee Gold Project in Yukon include the preparation of a new 5,000-foot airstrip, expected to be operational before year-end 2026.

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Drilling and Resource Definition

Talamore's 2026 program completed more than 46,000 m of reverse circulation (RC) and diamond drilling, exceeding our original target of 40,000 metres. Infill drilling at Supremo Extension has returned intercepts materially above current resource grades, including intercepts outside the current resource pit limits, supporting the upgrading of Inferred ounces to Indicated for inclusion in the FS. Similar infill drilling occurred at Supremo and Latte for inclusion in the next resource update.

Coffee benefits from a large, contiguous property package which hosts several highly prospective targets beyond the current resource base. In 2026, Talamore added drill holes to the Sugar, Konnexion, Supremo Deep and Ristretto targets, with results expected through October and November. These are all highly prospective targets with the potential for significant additions to the resource base or the discovery of new deposits.

Financing: Up to C$688 Million to Advance Coffee Toward Construction

In July 2026, Talamore announced a construction financing package that, with a debt facility upsized in September, totals up to C$688 million. It follows a C$57.5 million raise to complete the acquisition of Coffee and C$17.25 million in flow-through financing for the 2026 drilling program.

Table 1. Financing completed and committed since the Coffee acquisition

The debt facility can be drawn in three tranches: C$20 million at closing, C$80 million after receipt of the road permits, and up to C$350 million once final mine permits are received. It requires no mandatory hedging, offtake, streams, or royalties, preserving shareholders' exposure to the gold price.

Management and Board: A Development Team Built in Twelve Months

Since closing, Talamore has added nine senior leaders with experience at Franco-Nevada, Newmont, Goldcorp, Kinross, Torex Gold, Agnico Eagle, and Foran Mining. They join CEO Tim Warman and Executive Vice-President Exploration Charlie Ronkos.

Table 2. Senior leadership appointed since closing

Board of Directors

In November 2025, Chris Beer, Dawson Proudfoot, and Sandip Rana joined the board, with Mr. Beer succeeding Scott Hicks as Chair. Mr. Beer spent 24 years as a senior portfolio manager at RBC Global Asset Management. Mr. Proudfoot was Vice-President Engineering at Torex Gold during development of its Morelos project, and Mr. Rana is Chief Financial Officer of Franco-Nevada. Tracy Reynolds, Head of Corporate Development at Newmont, has also joined the board. The board now has seven members, five of whom are independent.

Talamore is backed by a shareholder base that includes Newmont, Agnico Eagle, Pierre Lassonde, and Trinity Capital Partners.

Figure 3. Infill drilling at Supremo Extension, part of the approximately 40,000-metre 2026 program.

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The Work Ahead

Talamore's priorities for the remainder of 2026 and the first half of 2027 are:

• completing the warrant incentive program (November 16, 2026);
• completing Phase 1 of the NAR, commissioning the new airstrip, and configuring the construction camp;
• continued exploration of the Coffee property;
• receiving the Type A Water Licence and Quartz Mining Licence;
• publishing the Feasibility Study in H1 2027; and
• making a Final Investment Decision in H1 2027.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Denis Flood, P. Eng., a Qualified Person as defined by National Instrument 43-101.

The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

About Talamore Mining

Talamore Mining Corporation is a Canadian exploration and development company advancing the Coffee Gold Project in Yukon, Canada. Coffee is a 100%-owned, open-pit heap leach gold project in the final stages of permitting and engineering, as the Company works toward a construction decision. The project hosts 3.0 million ounces of Measured and Indicated resources and an additional 0.8 million ounces of Inferred resources. In addition to Coffee, Talamore holds a portfolio of copper and gold assets in Chile and Mexico, providing longer-term growth potential.

Talamore recognizes that protection of the land and water around the Coffee Gold Project is of central importance to the Tr'ondëk Hwëch'in, White River First Nation, Selkirk First Nation, and the First Nation of Na-Cho Nyäk Dun. The Company is focused on building long-term relationships grounded in transparency, respect, and follow-through. From day one, Talamore's approach is simple: do the work properly, be honest about it, and follow through on what we say.

Additional Information

Forward-Looking Information

Certain of the statements made and information provided by Talamore in this press release are forward-looking statements or information within the meaning of applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as "anticipates", "believes", "budget", "continue", "estimates", "expects", "forecasts", "guidance", "intends", "plans", "projected" or "scheduled" or the negatives thereof or variations of such words and phrases or statements. Forward-looking statements or information contained in this press release include, but are not limited to, statements or information with respect to: the Company's near term priorities and the timing of milestones relating to the Coffee Project including financing arrangements, completion of the NAR and early works program, exploration and development activities, obtaining licenses and permits, completing a feasibility study and making a Final Investment Decision; expectations regarding the Company obtaining the Type A Water License and Quartz Mining License; expectations related to resource estimates being upgraded; anticipated timing of a construction decision; anticipated proceeds from the Company's financing arrangements including the debt facility and warrant early exercise incentive program; the results of the PEA including anticipated production, planned mine life, net present value and internal rate of return; and, generally, the Company's strategy, plans, goals and priorities.

Forward-looking statements and forward-looking information are by their nature based on a number of assumptions that management considers reasonable. However, such assumptions involve both known and unknown risks, uncertainties, and other factors which, if proven to be inaccurate, may cause actual results, activities, performance or achievements to be materially different from those described in the forward-looking statements or information. These include assumptions concerning: timing, cost and results of exploration and development activities; the future price of gold and other base and precious metals; exchange rates; anticipated operating and capital costs, expenses and working capital requirements; all necessary regulatory approvals being obtained; and the geopolitical, economic, permitting and legal climate. Even though management believes that the assumptions underlying such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Many assumptions are difficult to predict and are beyond the Company's control.

Forward-looking statements and forward-looking information are subject to known and unknown risks, uncertainties and other important factors that may cause actual results, activities, performance or achievements to be materially different from those described in the forward-looking statements or information. These risks, uncertainties and other factors include, among others: inaccurate estimation of mineral resources; the results of exploration and development activities not being as anticipated; integration risks associated with acquisitions; liquidity and financing risks; changes in prices of gold, other base and precious metals and consumables; currency risk; tax matters; changes in general economic or market conditions; market volatility; competition for, among other things, capital and skilled personnel; legal and regulatory risks including failure to obtain necessary permits or changes in applicable mining laws; mineral tenure; failure to protect proprietary information; risks relating to operating in remote or foreign jurisdictions; risks of political instability, terrorism, sabotage, natural disasters or public health concerns; community relations and social license; geotechnical conditions or failures; reclamation and long-term obligations; risks relating to environmental, sustainability, and governance practices and performance; corruption, bribery, and sanctions; employee misconduct; litigation; conflicts of interest; tariffs and other trade barriers; and those risk factors discussed in our most recent Annual Information Form.

There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, the Company does not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with securities regulatory authorities.

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