TALONX RESOURCES LIMITED — Board/Management Information 2021

Jul 7, 2021

8 July 2021 ASX CODE: MTB

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MOUNT BURGESS MINING – BOARD CHANGES

Resignation of Director

Because of the constraints of working full time as Principal Metallurgical Consultant to Sedgeman Pty Ltd, Chris Campbell-Hicks, FAusIMM CP Met MMICA, Metallurgist and NonExecutive Director of Mount Burgess Mining and its wholly-owned subsidiary Mount Burgess (Botswana) Proprietary Ltd, has agreed to resign from the Board of Mount Burgess Mining and its subsidiary effective 7 July 2021.

The Company would like to thank Chris and his wife Galina Krylova, metallurgist, for their contribution in investigating the metallurgical recovery processes required for the Company’s polymetallic Kihabe-Nxuu Zn/Pb/Ag/Cu/V/Ge project in Botswana. This resulted in achieving a satisfactory process for recovering Vanadium Pentoxide on site from the oxide vanadate Descloizite.

The Company wishes Chris and Galina all the best in the future.

Appointment of Director

The Company welcomes Robert Brougham, FAusIMM BSc Mineral Processing/Process Control, Metallurgist, as a Non-Executive Director to the Board of Mount Burgess Mining, effective 7 July 2021. Robert has vast experience in commissioning, plant operations and maintenance of many base metal projects in Australia, Zambia, Eritrea and Indonesia.

Robert has in-depth knowledge of the Kihabe-Nxuu project, having been the principal metallurgist involved in all the metallurgical test work conducted on the project by ProMet Engineering. This confirmed the recoverability of Zinc metal on site from the Zinc oxide minerals Baileychlore (Kihabe Deposit) and Smithsonite (Nxuu Deposit).

MOUNT BURGESS (BOTSWANA) PROPRIETARY LTD – BOARD CHANGES

Appointment of Director

For the sake of endeavouring to enhance the progress of development of the Kihabe - Nxuu polymetallic Zn/Pb/Ag/Cu/V/Ge project in Botswana, during COVID-19 restrictions and beyond, in July 2021 the Company appointed Jacob Thamage, Mining Engineer, Motswana national, to the Board of its wholly owned subsidiary, Mount Burgess (Botswana) Pty Ltd.

Jacob recently held the position of Chief Mining Officer for the African Development Bank in Abidjan, Cote D’Ivoire. Previous to that, he was Deputy Permanent Secretary, Ministry of Minerals, Energy and Water Resources, Botswana.

In May 2010, he was appointed Coordinator of Botswana's Diamond Hub to coordinate the relocation of DeBeers diamond sales functions from London to Gaborone, Botswana. As Deputy Permanent Secretary and Diamond Hub Coordinator, this involved:

• Establishing the Okavango Diamond Company and as founding Chairman recruiting the Executive Team

• Overseeing Botswana's delegation in the Kimberley Process certification scheme from 2003 to 2016

• Organising the first Kimberley Process review commission to Israel in 2004, which set the standards for future Kimberley Process review missions

Jacob is welcomed by the other Mount Burgess (Botswana) Proprietary Ltd Board Members, Jan Forrester, Serene Chau, CPA and Nigel Forrester, FCA (ICAEW).

ACN: 009 067 476 8/800 Albany Hwy, East Victoria Park, Western Australia 6101 Tel: (61 8) 9355 0123 Fax: (61 8) 9355 1484 mtb@mountburgess.com www.mountburgess.com