MEDIA ADVISORY

News Release
TSX:TLO

TALON METALS REPORTS SECOND QUARTER 2019 RESULTS

Road Town, British Virgin Islands (August 14, 2019) – Talon Metals Corp. (“Talon” or the “Company”) (TSX: TLO) reported a net loss for the three months ended June 30, 2019 of $0.8 million or nil per share (basic and diluted). This compares to a net loss for the three months ended June 30, 2018 of $2.4 million or $0.02 per share (basic and diluted). The loss during the three months ended June 30, 2019 was primarily the result of administration expenses and stock option compensation expense. The loss during the three months ended June 30, 2018 was primarily the result of administration expenses and the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan.

The Company’s net loss for the six month period ended June 30, 2019 was $3.7 million or $0.01 per share (basic and diluted). This compares to a net loss of $4.4 million or $0.03 per share (basic and diluted) for the same period in the prior year.

Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper- Cobalt Project for the three months ended June 30, 2019 amounted to $1.5 million. This compares to $0.2 million for the three months ended June 30, 2018. The total capitalized exploration cost on the Tamarack Nickel-Copper-Cobalt Project to June 30, 2019 amounts to $48.7 million.

Condensed Consolidated Interim Financial Statements for the three and six months ended June 30, 2019 and 2018, together 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 producing nickel responsibly for the electric vehicles industry. The high-grade Tamarack Ni-Cu-Co Project is located in Minnesota, USA (which comprises the Tamarack North Project and the Tamarack South Project). The Company has a well-qualified exploration and mine management team with extensive experience in project management.

For additional information on Talon, please visit the Company’s website at www.talonmetals.com or contact:

Sean Werger
President
Talon Metals Corp.
Tel: (416) 361-9636 x102
Email: werger@talonmetals.com

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Talon Metals Corp.

165 Warren Street                Tamarack, MN 55787                        

Craigmuir Chambers

P.O Box 71
Road Town, Tortola
British Virgin Islands

Tel:  +1 4163619636

Fax: +1 4163610330

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    About

    Talon is a TSX-listed base metals company in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota. Talon’s shares are also traded in the US over the OTC market under the symbol TLOFF. The Tamarack Nickel Project comprises a large land position (18km of strike length) with high-grade intercepts outside the current resource area. Talon has an earn-in right to acquire up to 60% of the Tamarack Nickel Project, and currently owns 51%. Talon is focused on (i) expanding and infilling its current high-grade nickel mineralization resource prepared in accordance with NI 43-101 to shape a mine plan for submission to Minnesota regulators and (ii) following up on additional high-grade nickel mineralization in the Tamarack Intrusive Complex. Talon has an agreement with Tesla Inc. to supply it with 75,000 metric tonnes (165 million lbs) of nickel in concentrate (and certain by-products, including cobalt and iron) from the Tamarack Nickel Project over an estimated six-year period once commercial production is achieved. Talon has well-qualified experienced exploration, mine development, external affairs and mine permitting teams.

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