Commencement of Exploration Work at Fougnar

Dublin, Ireland, 24 February 2026 - Talisman Metals PLC ("Talisman" or the "Company") announces the commencement of a preliminary exploration 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 exploration 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 exploration programme integrates trenching, ground geophysics, and stream sediment sampling, designed to define priority targets across the Project area. Additionally, a modest scout drill work program will be conducted to improve Project stratigraphy 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."

Exploration Programme Overview

1-Ground geophysics, 2 phases:

Phase 1: Transient Electromagnetics (TEM) surveys on a 250m × 250m grid over the southern permit area and Higher-Resolution TEM surveys on a 250m × 100m grid over the northern permit area to map out structures that control mineralisation (Paleorelief of basement rock) and resistive profiles to track conductive "horizons" up to 500m deep. Phase 2: Four-pole dipole-dipole Induced Polarisation (IP) 1km profiles across priority targets in the northern permit area to track mineralised/conductive and chargeable sulphide rich horizons up to 300m deep.

2-Regional surface geochemistry

Stream sediment sampling to extend geochemical coverage and identify additional 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. Systematic channel sampling will be conducted as well. This work aims to define the controls on mineralisation continuity and to improve understanding of the structural components within the host sedimentary units, and mineralisation thickness prior to conducting systematic drilling. Scout reverse circulation drilling to test geological stratigraphy 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 Rationale

The current programme is designed to test both strike and depth continuity of mineralised Cu-Ag zones and to assess the broader prospectivity of the Project area.

Next Steps

Mobilisation and field activities 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

Figure 1: Project Location Map

Figure 2: Project Location Map, detail

Figure 3: Mineralisation observed in the outcropping sedimentary host units on Trench CH09 (left). Malachite and Azurite (copper-carbonate) mineralisation from FO-CH09 (left)

Nominated Adviser Statement