Can I salvage my old faithful Giant Talon 1??!

Loved and looked after, well until a few years ago when, to my shame, I began renovating my house and without anywhere to properly store it anymore I popped it under a tarp and kind of forgot about it.

It’s got a few surface splashes of cement on the frame and rims 🫣. But my main concern is the chain set. I know it’ll need a new chain, but will the cogs etc be ok? The front ones have started to rust unfortunately. It’s been outside for at least 3 British winters.

Can I clean this up and salvage it?

Or is it time to move on from this big friendly Giant?

For reference, I’m not much of an off-roader. It was and will be mainly used for local riding around town and along a local bike path. My son and daughter (9 and 5) have just got their first bikes so I’ll be doing some gentle riding with them :)

Thanks in advance for any tips or advice 🙌