Road Town, Tortola, British Virgin Islands (Mar 29, 2010) – Talon Metals Corp., (“Talon” or the “Company”) (TSX: TLO) reported a net loss for the year ended December 31, 2009 of $1,841,962 or $0.07 per share – basic and diluted (2008: net loss of $6,833,161 or $0.25 per share – basic and diluted). In 2009 the net loss was primarily due to operating expenses, partially offset by realized and unrealized gains on investments totaling approximately $1.4 million.
For the three month period ended December 31, 2009 Talon reported a net loss of $510,769 or $0.02 per share – basic and diluted. (2008: net loss of $2,941,957 or $0.11 per share – basic and diluted). In the fourth quarter of 2009 the net loss was mainly due to operating expenses.
Capitalized exploration for the year amounted to $1,272,277 (total to date is $9,417,920) and relates mainly to the acquisition of the Sergipe Potash Project in Brazil.This compares to $1,462, 583 in the year ended December 31, 2008.
Consolidated Audited Financial Statements for the years ended December 31, 2009 and 2008, together 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 development of the Trairão Iron Project in ParÁ State, Brazil. 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 Company’s website at www.talonmetals.com or contact:
VP Investor Relations
Tau Capital Corp.
Tel: (416) 361-9636 x 243