Talon Metals Reports Second Quarter 2011 Results

Aug 15, 2011

Talon files 3rd NI 43-101 Technical Report on SEDAR for the Trairão Iron Project

Road Town, Tortola, British Virgin Islands (Aug 15, 2011) - Talon Metals Corp. (“Talon” or the “Company”) (TSX: TLO) reports a net loss for the three month period ended June 30, 2011 of $5,917,928 or $0.07 per share (basic and diluted). Net loss for the six month period was $9,076,908 or $0.11 per share (basic and diluted). This compares to net loss of $5,079,819 or $0.08 per share (basic and diluted) for the three months ended June 30, 2010 and net loss of $5,344,832 or $0.11 per share (basic and diluted), for the first six months of last year.

Capitalized exploration for the three and six month periods ended June 30, 2011, amounts to $6,628,725 and $9,284,898 respectively. This relates mainly to work done on the Trairão Project. This compares to $697,833 and $999,734 for the three and six month periods respectively of last year and primarily related to work done on the Sergipe Potash Project.

Consolidated Interim Financial Statements for the three and six months ended June 30, 2011, along with Management's Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.

Third NI 43-101 Technical Report on Trairão
Talon also announces that a National Instrument 43-101 (“NI 43-101”) technical report has been filed on SEDAR for the Company's 100% owned Trairão Iron Project in ParÁ State, Brazil. This is further to Talon's news releases of August 4 and June 29, 2011.

The independent technical report is entitled “Third Independent Technical Report on Mineral Resources” and dated August 12, 2011.

Talon's Third Technical Report includes the new mineral resource estimate for Target Area 3, an updated mineral resource estimate for the Target Area 2, as well as the previously reported mineral resource estimate for Target Area 1.

About Talon

Talon is a TSX-listed company focused on the exploration and development of its 100% owned Trairão Iron Project in ParÁ State, Brazil. 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 Company's website at www.talonmetals.com or contact:

Erica Belling
VP Investor Relations
Tau Capital Corp.
Tel: Tel: (416) 361-9636 x 243
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.