Road Town, Tortola, British Virgin Islands (May 15, 2008) – Talon Metals Corp., formerly BrazMin Corp., (“Talon” or the “Company”) (TSX: TLO) reported net loss for the three month period ended March 31, 2008 of $729,548 or $0.03 per share (basic and diluted). This was primarily the result of operating expenses and unrealized losses on investments.
This compares to net income of $9,446,746 or $0.35 per basic share and $0.30 per diluted share, for the three months ended March 31, 2007 which was due to the sale of Talon’s interest in the Tocantinzinho Gold Project to Brazauro Resources Corporation. Capitalized exploration for the first quarter of 2008 amounted to $493,143 and was mainly related to work done on the Água Branca Gold Project. The total capitalized exploration to March 31, 2008 was $9,290,537 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, 2008, along with Management’s Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.
About Talon 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:
VP Investor Relations
Tau Capital Corp.
Tel: (416) 361-9636 x 243