Talisker Outlines District-Scale Growth Plan and Robust PEA for Bralorne Gold Project

Ian Wagner (0:15)

Welcome back to Mining Stock Daily, Ian Wagner here with a corporate update from our friends at Talisker Resources. Talisker is an emerging gold producer, developer, explorer in the Bralorne District of British Columbia. They trade on the TSX under the symbol TSK, and now on the OTCQX under the symbol TSKFF.

And we last spoke with Talisker in July of 2026 We have covered the story for quite some time, so I would encourage any new listeners to go back and check out past episodes. But a lot has happened since then. A new PEA come out right in the last couple of weeks, a lot of operations on the ground, development cadence. So, with us to talk about all of that is the CEO of Talisker, Mr. Terry Harbort. Terry, good to see you. Welcome back to the podcast.

Terry Harbort (1:09)

Hi, Ian, thanks very much for having us on again.

Ian Wagner (1:12)

Of course.

There's a lot to talk about. I think a lot, probably the market wants to know about what you guys are doing and kind of future plans, so let's jump right in. I think the big news, right, of September was the PEA, and you came out. I think the thing that sort of stood out or was clarifying for me was just, really, this is a multi-mine project, right? You guys are mining now today at Mustang, but that is a small portion of what you will be doing, and Bralorne West that we've talked about is, I don't know, maybe an intermediate stage, but Olympus is really the bulk of this resource.

Just talk about, I guess, what you wanted the PEA to communicate and how it kind of affects your guys' development of this project.

Terry Harbort (2:04)

Yeah, Ian, look, I think the thing that the PEA really brings out is that we're really just at the beginning of our growth cycle here.

We've been talking about developing a district, and really, these are the first steps in this. With our original bootstrap or self-funding model, when times were tough, we started production over at Mustang for a very simple reason. And that was that it was the most inexpensive place, lowest capex for us to get in into production, start to generate revenue and execute our plan. But really, it was that first step, the first phase that we were looking at. And even now, we don't have a lot of drilling underneath where we're mining at Mustang. So it certainly wasn't the best place in our first view, it was the easiest place and the cheapest place to get in, get into production. Obviously, we're drilling underneath there now with development, continuing down from where we started, 1060 elevation level, 1045, 1030, 1015, 1,000, 980, we're heading down and down and seeing some very good ore shoots there. But now, we're starting to execute the second phase, and that's a cross to our second mining area, which is Bralorne West. And we finished that straight shot that we talked about, I think on some of our first podcasts was, what's the bottleneck? Where is the bottleneck? And it's that development across the Bralorne West that opens up a whole new mining area. And technically, it would be a new mine, except we're sharing infrastructure, we're sharing access, and really that, again, was following that thesis of, well, how can we get this into production quicker and cheaper? But the big prize, which has really been highlighted here by the PEA, is the future, and that is where we're going to across that, at the Olympus area. And the bulk of our resource, 2.4 million ounces, actually sits over there.

So that really is what's highlighted here in this PEA, that we've got a long way to go. This is just the beginning of a long life, discrete scale play.

Ian Wagner (4:40)

Yeah, a lot to maybe unpack there. And let's jump in, just for anyone who hasn't seen the PEA, just run a little bit of the numbers, because they are big. So an after-tax NPV at a 5% discount of over a billion dollars Canadian, that is based on a $3,500 US gold price. Important to point out, that's implying an average annual production of about 110,000 ounces of mine life over 14 years. You know, a good amount of capex, right? You know, 416 million Canadians. So I want to ask you about that and kind of the plans there.

But also 171 million Canadian cash flow, annual free cash flow, right? With a two-year payback from commercial production. So ASIC, a couple of different numbers one could use, right? Maybe 1914 is seeing the US, but there's some different cash costs and different numbers there after the mill construction. So do you want to kind of talk us through some of those numbers, Terry, a little bit and kind of what you think is important to highlight and what, just how that kind of affects you guys, is your development.