Talon Metals Reports First Quarter 2009 Results
May 12, 2009
Road Town, Tortola, British Virgin Islands (May 12, 2009) - - Talon Metals Corp., (“Talon” or the “Company”) (TSX: TLO) reported net earnings for the three month period ended March 31, 2009 of $579,704 or $0.02 per share (basic and diluted). This was primarily the result of the Company selling the remaining shares of its investment in Brazauro Resources Corporation.
This compares to a net loss of $729,548 or $0.03 per basic share (basic and diluted) for the three months ended March 31, 2008 which was primarily the result of operating expenses and unrealized losses on investments.
Capitalized exploration for the first quarter of 2009 amounted to $124,825 and was mainly related to work done on some of Talon's gold projects, including the São Jorge Gold Project. The total capitalized exploration to March 31, 2009 was $8,293,750 and mainly reflected work performed on the São Jorge and Água Branca Gold Projects.
Consolidated Interim Financial Statements for the three months ended March 31, 2009, along with Management's Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.
Talon is a TSX-listed company focused on the acquisition, exploration and advancement of high quality mineral resource projects. The Company has a well-qualified exploration and management team with extensive experience in exploration and project management.
For additional information on Talon please visit the Talon's website at www.talonmetals.com or contact: