Commencement of Exploration Work at Fougnar Cu-Ag Project
Talisman Metals PLC
24 February 2026
Talisman Metals PLC
("Talisman" or the "Company")
Commencement of Explora(cid:415)on Work at Fougnar Cu–Ag Project
Dublin, Ireland, 24 February 2026 – Talisman Metals PLC (“Talisman” or the “Company”) announces the commencement of a preliminary explora(cid:415)on programme at its Fougnar Copper–Silver Project (the “Project”) within the Tizert group of licenses that Talisman recently acquired (see CPR report “Morocco Projects” in the Admission Document dated 30 December 2025). The explora(cid:415)on work is focused on improving the Company’s understanding of structural geography at the Project and establishing drill-ready targets for subsequent campaigns later in 2026.
The explora(cid:415)on programme integrates trenching, ground geophysics, and stream sediment sampling, designed to define priority targets across the Project area. Addi(cid:415)onally, a modest scout drill work program will be conducted to improve Project stra(cid:415)graphy understanding. Talisman’s CEO, Tim McCutcheon, said “Now that we have completed our readmission, the Company is moving straight to field work. I look forward to sharing the results of our work in due course.” Explora(cid:415)on Programme Overview
1-Ground geophysics, 2 phases:
Phase 1: Transient Electromagne(cid:415)cs (TEM) surveys on a 250m × 250m grid over the southern permit area and Higher-Resolu(cid:415)on TEM surveys on a 250m × 100m grid over the northern permit area to map out structures that control mineralisa(cid:415)on (Paleorelief of basement rock) and resis(cid:415)ve profiles to track conduc(cid:415)ve “horizons” up to 500m deep. Phase 2: Four-pole dipole–dipole Induced Polarisa(cid:415)on (IP) 1km profiles across priority targets in the northern permit area to track mineralised/conduc(cid:415)ve and chargeable sulphide rich horizons up to 300m deep.
2-Regional surface geochemistry
Stream sediment sampling to extend geochemical coverage and iden(cid:415)fy addi(cid:415)onal Cu–Ag and pathfinder anomalies across catchments on the west part of the Project.
3-Follow up sampling known best surface intercepts at depth and along strike: Mechanical trenching to expose bedrock beneath downslope material, measure Cu-Ag grade and thickness along strike. Systema(cid:415)c channel sampling will be conducted as well. This work aims to define the controls on mineralisa(cid:415)on con(cid:415)nuity and to improve understanding of the structural components within the host sedimentary units, and mineralisa(cid:415)on thickness prior to conduc(cid:415)ng systema(cid:415)c drilling. Scout reverse circula(cid:415)on drilling to test geological stra(cid:415)graphy associated with mapped data and outcropping Cu–Ag down dip from previous trench results (FO-CH09 with 1.1m @ 1.16% Cu and 53g/t Au, FO-CH02 with 0.6m @ 0.41% Cu and FO-CH04 0.7m @ 0.70% Cu and 17g/t Au – See Figure 2). Geological Ra(cid:415)onale
The current programme is designed to test both strike and depth con(cid:415)nuity of mineralised Cu-Ag zones and to assess the broader prospec(cid:415)vity of the Project area.
Next Steps
Mobilisa(cid:415)on and field ac(cid:415)vi(cid:415)es have commenced and will be completed over the coming weeks. Results from trenching, geophysics, and geochemical sampling will be used to refine drill targets, with further updates to be provided as data become available.
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 scien(cid:415)fic and technical informa(cid:415)on summarized in this disclosure and related to historic explora(cid:415)on 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 mineralisa(cid:415)on or type of deposit under considera(cid:415)on and ac(cid:415)vity which he is undertaking to qualify as a Competent Person under the JORC code (2012 Edi(cid:415)on). Figure 1: Project Loca(cid:415)on Map
Figure 2: Project Loca(cid:415)on Map, detail
Figure 3: Mineralisa(cid:415)on observed in the outcropping sedimentary host units on Trench CH09 (le(cid:332)). Malachite and Azurite (copper-carbonate) mineralisa(cid:415)on from FO-CH09 (le(cid:332))
End
For further informa(cid:415)on:
Talisman Metals PLC
Tim McCutcheon (Chief Execu(cid:415)ve Officer and Director)
Tel +353 (0) 1 525 6710
contactus@talismanmetalsplc.com
Beaumont Cornish Limited (Nominated Adviser)
James Biddle / Roland Cornish
Tel: +44 (0) 207 628 3396
CMC Markets UK Plc (Broker)
Thomas Smith / Thomas Curran
Tel: +44 (0) 20 3003 8255
BlytheRay (Financial PR)
Megan Ray / Said Izagaren
Tel: +44 (0) 20 7138 3204
talismanmetals@blytheray.com
JORC Code (2012) – Historical Explora(cid:415)on Results Disclaimer
The informa(cid:415)on in this announcement that relates to historical reported explora(cid:415)on results is based on, and fairly represents, informa(cid:415)on and suppor(cid:415)ng documenta(cid:415)on prepared by previous operators and/or extracted from historical reports.
The historical explora(cid:415)on results referred to in this announcement were reported prior to the introduc(cid:415)on 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 explora(cid:415)on results in accordance with the JORC Code (2012). It is possible that following further evalua(cid:415)on and/or explora(cid:415)on work, the accuracy and reliability of the historical explora(cid:415)on results may not be confirmed. The Company has not independently verified the historical explora(cid:415)on results, and no assurance can be given that future explora(cid:415)on work will result in the confirma(cid:415)on or upgrade of the historical results to JORC Code (2012) compliant Mineral Resources or Ore Reserves.
The Company considers the historical explora(cid:415)on results to be relevant as they provide an indica(cid:415)on of the poten(cid:415)al of the project. However, the informa(cid:415)on should not be relied upon as a representa(cid:415)on of the current mineral resource or explora(cid:415)on poten(cid:415)al.
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 responsibili(cid:415)es as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibili(cid:415)es under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not ac(cid:415)ng for and will not be responsible to any other person for providing the protec(cid:415)ons afforded to customers of Beaumont Cornish nor for advising them in rela(cid:415)on to the transac(cid:415)on and arrangements described in the announcement or any ma(cid:425)er referred to in it.