Rio Verde Minerals Development Corporation (Potash)

Throughout 2009 and 2010, Talon Metals spent approximately C$1.9M on the Sergipe Potash Project in Brazil. In 2011, Talon Metals sold the Sergipe Potash Project to Rio Verde Minerals Development Corporation in exchange for 25.6M shares of Rio Verde. Subsequently, these Rio Verde shares were distributed to Talon shareholders on the basis of one Rio Verde share for every four Talon Metals shares owned. In March 2013, Rio Verde was sold to B&A Mineração S.A., a Brazilian mining fund, who paid C$0.40 per Rio Verde share.