TORONTO, July 17, 2026 (GLOBE NEWSWIRE) -- Talisker Resources Ltd. ("Talisker" or the "Company") (TSX: TSK, OTCQB: TSKFF) is pleased to announce that its wholly-owned subsidiary, Bralorne Gold Mines Ltd. ("Bralorne"), has entered into a loan agreement (the "Loan Agreement") with Two Shores Capital Corp. ("2Shores"). The Loan Agreement provides for a delayed-draw term loan of up to $11.0 million (the "Facility") to fund the acquisition of ore sorting and processing equipment (the "Equipment") for the Company's Bralorne Gold Project in southern British Columbia.
Facility Highlights:
- Amount: Up to $11.0 million, comprising an initial advance of $2.4 million (the "Initial Advance") and subsequent advances of up to $8.6 million in aggregate, available in one or more tranches as Equipment purchase milestones are reached.
- Use of proceeds: The Initial Advance will reimburse deposits previously paid by Bralorne to Equipment vendors with subsequent advances to be utilized to fund the remaining Equipment purchases.
- Term: 36 months from closing, with blended monthly payments of principal and interest fully amortizing the Facility over the term.
- Interest rate: 14% per annum on amounts drawn.
- Fees: A closing fee of 1% on each advance, withheld from the proceeds of the advance.
- Prepayment: The Facility may be prepaid in whole or in part at any time on seven business days' notice, subject to 2Shores receiving a minimum 1.10x multiple on invested capital.
- Security: The Facility is secured by a first-priority purchase money security interest which is limited to the Equipment and related insurance proceeds, and supported by a performance bond of up to $5.0 million in aggregate issued by a Canadian surety and a guarantee from Talisker. The Facility places no charge on the Bralorne Gold Project's mineral claims or other project assets.
The Loan Agreement contains covenants, representations, events of default, and conditions to funding customary for a facility of this nature.
Terry Harbort, President and CEO of Talisker stated, "This Facility provides non-dilutive capital for the ore-sorting and processing equipment that is central to our processing strategy at the Bralorne Gold Project. Structuring the financing against the equipment itself, with no encumbrance on our mineral tenure, preserves the strength of our balance sheet as we advance toward our Preliminary Economic Assessment later this year."
For further information, please contact:
Lindsay Dunlop
Vice President, Investor Relations
lindsay.dunlop@taliskerresources.com
+1 647 274 8975
About Talisker Resources Ltd.
Talisker (taliskerresources.com) is a junior resource company involved in the exploration and development of gold projects in British Columbia, Canada. Talisker's flagship asset is the high-grade, fully permitted Bralorne Gold Project where the Company is producing at the Mustang Mine. Talisker projects also include the Ladner Gold Project, an historic high-grade gold mine near Hope, British Columbia, with significant exploration potential, and the Spences Bridge Project, where the Company has a significant landholding in the emerging Spences Bridge Gold Belt, as well as several other early-stage Greenfields projects.
Caution Regarding Forward Looking Statements
Certain statements contained in this press release constitute forward-looking information. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Talisker's current belief or assumptions as to the outcome and timing of such future events. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Talisker. Although such statements are based on reasonable assumptions of Talisker's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title and environmental risks and risks relating to the failure to receive all requisite shareholder and regulatory approvals.
The forward-looking information contained in this release is made as of the date hereof, and Talisker is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
