Road Town, Tortola, British Virgin Islands (Aug 13, 2008) – Talon Metals Corp. (“Talon” or the “Company”) (TSX: TLO) reported net earnings for the three month period ended June 30, 2008 of $1,023,538 or $0.04 per share (basic and diluted) primarily due to a $1,462,650 unrealized gain on investments. Net earnings for the six month period were $293,990 or $0.01 per share (basic and diluted). This compares to a loss of $978,845 or $0.04 per share (basic and diluted) for the three months ended June 30, 2007 and earnings of $8,467,901 or $0.31 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, 2008, amounted to $442,699 and $935,841 respectively. This relates mainly to work done on the Água Branca Project. This compares to $548,696 and $1,056,722 for the three and six month periods respectively of last year.
Consolidated Interim Financial Statements for the three and six months ended June 30, 2008, along with Management’s Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.
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