Road Town, Tortola, British Virgin Islands (Oct 22, 2007) – Talon Metals Corp. (“Talon” or the “Company”) (TSX: TLO) is pleased to announce that drilling is now underway at the Company’s Água Branca Gold Project (“Água Branca” or the “Project”).
As reported in a Talon news release of September 5, 2007, the Company is conducting a minimum 2,000 metre diamond drill program to test the Heaven West zone and Serra da Abelha target. Previously reported sampling from Heaven West includes grab samples with up to 132.2 g/t Au and channel samples with up to 48.5 g/t Au over 1.50 metres. Visible gold was observed in several samples. The Serra da Abelha target is defined by an 800 by 250 metre wide +100 ppb gold in soil anomaly. The current drill program commenced at Serra da Abelha, and will progress to Heaven West when road upgrades have been completed.
A third new target area has also been discovered at Água Branca, namely Sierra Delta. This target is defined by a north-south trending gold in soil anomaly. At the +100 ppb level, the anomaly measures 800 metres long by 200 to 500 metres wide. The anomaly is open at the northern end of the grid, where it widens and strengthens, with values of up to 391 ppb Au. Additional work, including extending the current soil grid, is underway to better evaluate this new target area.
Exploration at Água Branca is being managed by Talon’s VP Exploration, Mr. Paulo Ilidio de Brito (Member: AusIMM), who is a qualified person within the meaning of National Instrument 43-101. Mr. Ilidio de Brito, who is responsible for the technical material in this release, has verified the data disclosed in this release, including the sampling, analytical and test data underlying the information.
Água Branca Overview
The 48,043 hectare Project is located within the Tapajós Gold District (“Tapajós”) in Brazil’s Pará State. The Tapajós is the site of significant alluvial gold production over the last forty years, with an estimated 19 million ounces of gold produced from a 168,000 square kilometre area*. Mineralization at Água Branca is associated with granitic intrusives and linear zones of hydrothermal alteration within a northwest-trending crustal-scale deformation zone characteristic of the Tapajós. The Project is the site of widespread historic “garimpos” (artisanal workings), in the form of hand dug pits and trenches up to 35 to 40 metres deep from which “garimpeiros” (artisanal miners) extracted gold from saprolite, the in-situ weathered rock overlying the primary bedrock. In 2006 the Company commenced exploration on the property, including a thirteen hole (2,416 metre) diamond drill program on Camarão Hill, the most advanced garimpo on the property. Gold mineralization was encountered in all holes drilled at Camarão Hill. Heaven West and Serra da Abelha are located 9.0 kilometres southwest and 1.5 kilometres southeast of Camarão Hill, respectively. The recently discovered Sierra Delta target is located 1.7 kilometres northwest of Camarão Hill.
* The estimate of gold production from the Tapajós is of historic significance only.
Talon is a TSX-listed company focused on the acquisition, exploration and advancement of high quality resource projects. The Company has a well-qualified exploration and management team with extensive experience in exploration and project management.
Talon has a treasury of approximately $15.2 million and holds approximately 4.9 million common shares of Brazauro Resources Corporation, (TSX-V:BZO). For additional information on Talon please visit the Company’s websiteat www.talonmetals.com or contact:
VP Investor Relations
Tau Capital Corp.
Tel: (416) 361-9636 x 243
Quality Assurance / Quality Control
The soil samples for Sierra Delta reported in this news release were collected by Talon’s geologists, prepared for analysis at SGS-Geosol Laboratorio Ltda’s (“SGS-Geosol”) sample-preparation laboratory in Itaituba, Brazil and 150 gram pulps were air-freighted by SGS-Geosol to their main assay laboratory in Belo Horizonte, Minas Gerais State, Brazil. SGS-Geosol, an ISO 14001 and ISO 9001:2000 accredited laboratory, is independent of Talon. The drill program will be conducted by Boart LongYear-Geoserv, an ISO 14001 accredited firm. Soil samples at Sierra Delta were collected at 50 metre intervals on 200 metre spaced lines on a 1.2 kilometre by 0.6 kilometre grid.
Samples for Heaven West and Serra da Abelha reported in the September 5, 2007 news release were collected by Talon’s geologists, prepared for analysis at SGS-Geosol Laboratorio Ltda’s (“SGS-Geosol”) sample-preparation laboratory in Itaituba, Brazil and 150 gram pulps were air-freighted by SGS-Geosol to their main assay laboratory in Belo Horizonte, Minas Gerais State, Brazil.
Gold is determined by fire assay/atomic absorption with a detection limit of 5 ppb Au using 50 gram aliquots. Lead fire assays use silver as a co-collector to facilitate easier handling of prills as well as to minimize losses during the cupellation process. Selected samples will later be analyzed for other elements such as silver, copper, lead, zinc, etc. by ICP spectrometry/multi-acid digestion. The laboratory is instructed to automatically reanalyze abnormally high gold values. SGS-Geosol inserts its own standards and blanks into each sample batch. The results from these control samples indicate acceptable consistency of analysis.
This press release contains certain “forward-looking statements”. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the Company’s exploration plans and objectives with respect to Água Branca, exploration results, and potential mineralization) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in gold prices, changes in equity markets, the possibility that future exploration results will not be consistent with the Company’s expectations, political developments in Brazil, changes to the regulations affecting the Company’s activities, delays in obtaining or failure to obtain required regulatory approvals, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting drilling results and other geological data, and the other risks involved in the gold exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of buy . Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.