Talon Metals Announces Increase in Gold Resource Estimate for Sao Jorge



    
    NI43-101 Indicated Gold Resource of 343,000 Ounces; Additional Inferred
    Resources of 458,000 Ounces
    

    News Release TSX:TLO

    ROAD TOWN, Tortola, British Virgin Islands, Sept. 4 /CNW/ - Talon Metals
Corp., ("Talon" or the "Company") (TSX: TLO) is pleased to announce the
results of an updated mineral resource estimate for the 100% owned Sao Jorge
Gold Project in Para State, Brazil. The global mineral resource estimate in
the indicated category, for the Wilton Zone at the Sao Jorge Project is
estimated at 343,000 troy ounces of gold, using a 0.5 g/t Au cut-off and
calculated to a depth of 260 metres. This is an increase of 79 % from the
previously reported 191,000 troy ounces of gold, completed in September 2006,
by SRK Consulting (Canada) Inc., to a depth of 100 metres. Furthermore, an
additional 458,000 troy ounces of gold is reported in the inferred category.
    This updated mineral resource estimate for the Wilton Zone at the Sao
Jorge Project has been prepared by Coffey Mining ("Coffey"), an international
consulting firm and independent of Talon. The mineral resource estimate
undertaken by Coffey was prepared by Mr. Bernardo Viana, who is an employee of
Coffey. In Coffey's opinion the updated mineral resource estimate is compliant
with the Canadian Securities Administrators National Instrument 43-101
Standards of Disclosure for Mineral Projects ("NI 43-101"). The mineral
resource estimate for the Wilton Zone at the Sao Jorge Project, as prepared by
Coffey, is summarized in Table 1.

    
    Table 1 - Wilton Zone at Sao Jorge Global Mineral Resource Estimate using
    variable cut-off grades (effective date: September 4, 2008).

    -------------------------------------------------------------------------
                                   Table 1
    -------------------------------------------------------------------------
                       Sao Jorge Project - Wilton Zone
                             Grade Tonnage Report
                     Multiple Indicator Kriging Estimate
                 10E x 10mN x 2.5mRL Selective Mining Unit(*)
    -------------------------------------------------------------------------
                         Indicated Mineral Resource
    -------------------------------------------------------------------------
    Lower Cutoff                             Average Grade    Contained Gold
    Grade (g/t Au)     Million Tonnes (xx)     (g/t Au)         (Kozs)(xx)
    -------------------------------------------------------------------------
         0.3                11.365               1.0                379
         0.5                 8.334               1.3                343
         0.7                 6.232               1.5                303
         0.8                 5.453               1.6                285
         0.9                 4.792               1.7                267
         1.0                 4.207               1.8                249
    -------------------------------------------------------------------------
                          Inferred Mineral Resource
    -------------------------------------------------------------------------
    Lower Cutoff                             Average Grade    Contained Gold
    Grade (g/t Au)     Million Tonnes (xx)     (g/t Au)         (Kozs)(xx)
    -------------------------------------------------------------------------
         0.3                20.673               0.8                558
         0.5                12.576               1.1                458
         0.7                 7.861               1.5                369
         0.8                 6.541               1.6                338
         0.9                 5.465               1.8                309
         1.0                 4.471               1.9                278
    -------------------------------------------------------------------------
    (*)    Specification on the size of the blocks used in the block
           modeling.
    (xx)   Appropriate rounding has been applied. "Kozs" indicates thousand
           troy ounces.
    

    "We are pleased with the updated mineral resource estimate for the Wilton
Zone and its extensions at Sao Jorge," said Mr. Stuart Comline, President and
CEO of Talon. "The increase in the gold price since our last resource estimate
in 2006 and the results of the additional work completed since then warranted
a re-assessment of the resources. It is gratifying to be able to report the
significant increase in both indicated and inferred resources at the Sao Jorge
Project, albeit to an increase in the depth limit. Of significance, both
Coffey and the Talon management have identified areas in the Sao Jorge licence
which warrants further exploration."
    The resource estimation was based on the available exploration drillhole
database which was compiled by Coffey. The database has been reviewed and
validated by Coffey prior to commencing the resource estimation study.
    Three drilling campaigns were carried out at Sao Jorge, with a total of
22,761.26 metres in 110 drill holes and the current database includes 12,937
gold assay results.
    Based on grade information and geological observations, oxidation and
mineralised domain boundaries have been interpreted and wireframes modelled to
constrain resource estimation for the Sao Jorge deposit.
    Interpretation and digitising of all constraining boundaries has been
undertaken on cross sections orientated at 180 degrees (drill line
orientation). The resultant digitised boundaries have been used to construct
wireframe surfaces or solids defining the three-dimensional geometry of each
interpreted feature. The interpretation and wireframe models have been
developed using the Gemcom Surpac mine planning software package.
    The resulting interpretation identified a series of mineralised zones
(denominated as low and high Grade domains) striking 290 degrees and dipping
almost vertically. Gold mineralization is related to a hydrothermal alteration
zone in the monzogranite along a structurally controlled fracture-vein system
approximately 700 metres long and 60 metres wide.
    Resource estimation for the Sao Jorge mineralisation was completed using
MIK (Multiple Indicator Kriging) within Zones 1 and 2. Ordinary Kriging,
Inverse Distance Squared and Nearest Neighborhood estimates were also
completed within these domains to allow comparison with the post processed
etype mean.
    The grade estimation was carried out using the Vulcan implementation of
the GSLIB kriging algorithms. Calculation of selective mining unit estimates
was undertaken using the Coffey developed scripts.
    The summarized Resource Statement in Table 1 has been determined as at
September 3, 2008 and has been prepared and reported in accordance with NI
43-101 and the classifications adopted by CIM Council. The resource estimate
has been classified as an Indicated and Inferred Resource based on the
confidence of the input data, geological interpretation, and grade estimation.

    Qualified Persons, Quality Assurance/Quality Control and Methodology

    Talon's exploration programs are managed by Talon's VP Exploration, Mr.
Paulo Ilidio de Brito (Member: AusIMM), who is a "Qualified Person" within the
meaning of NI 43-101.
    The "Qualified Person", as such term is defined in NI 43-101, who
prepared the mineral resource estimate and other technical information
presented in this news release is Mr. Bernardo Viana (Member: AusIMM). Mr.
Viana is independent of Talon and an employee of Coffey. Mr. Viana has
reviewed and approved the technical information in this news release. Coffey
is currently preparing a NI 43-101 technical report, which will be filed on
SEDAR within 45 days following the date of this news release.
    Gold assays are determined by fire assay/atomic absorption with a
detection limit of 5ppb Au using 50 gram aliquots by SGS-Geosol laboratory
located in Belo Horizonte, Minas Gerais State, Brazil. SGS-Geosol is ISO14001
and ISO 9001:2000 accredited and is independent of Talon. QA/QC procedures
include the submission of systematic duplicates, blanks and standard samples
within the sample batches submitted to SGS-Geosol. In addition, SGS-Geosol
inserts its own standards and duplicates into each sample batch. The results
from these control samples indicate acceptable consistency of analysis.
Selected representative pulverized sample duplicates are submitted for referee
analyses to ALS Chemex's laboratory in Vancouver, an ISO 9001:2000 and ISO
17025 accredited laboratory which is independent of Talon.
    Specific gravity determinations on the unweathered material were made by
SGS-Geosol using sample pulps and a pycnometer apparatus. Pycnometer specific
gravity determinations assumed that rock cavities are not a significant factor
on the unweathered drill core. Specific gravity measurements for saprolite
rock were measured by Talon's staff by the determination of the mass of dry
core and its respective volume.
    Coffey carried out a site visit at the Sao Jorge Project over the period
of July 11 to 13, 2008.

    About the Sao Jorge Gold Project

    Talon holds 100% of the rights to the Sao Jorge Project through Licences
No. 850.024/2002, No.850.058/2002 and No. 850.275/2003, granted by the
Departamento Nacional de Producao Mineral ("DNPM"), to the Company's wholly
owned subsidiary Brazilian Resources Mineracco Ltda ("BRM"). The Company has
prospected the area since 2004. There project is subject to legislation common
to other mining and exploration projects in Brazil in respect of title,
sociopolitical, environmental, taxation as well as possible future marketing
aspects.

    About Talon

    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.
    Additional information with respect to Sao Jorge is contained in a
technical report of SRK Consulting (Canada) Inc. dated October 12, 2006 and
entitled "BrazMin Corp.: Resource Estimate and Technical Report for the Sao
Jorge Project, Brazil," a copy of which has been filed on SEDAR and may be
accessed at www.sedar.com.
    Talon has a treasury of approximately CDN$12 million and holds 4,935,500
common shares of Brazauro Resources Corporation, (TSX-V:BZO) and 2,450,000
common shares in Beadell Resources Limited (ASX:BDR).

    Forward-Looking Statements

    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 estimation of mineral resources, future mineral resources and
the Company's exploration plans and objectives) 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, failure to
establish estimated mineral resources, changes in gold prices, changes in
equity markets, changes to the regulations affecting the Company's activities,
the preliminary nature of metallurgical results, delays in obtaining or
failure to obtain required regulatory approvals, uncertainties relating to the
availability and costs of financing needed in the future, inflation, political
developments, 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 new information, future
events or results or otherwise. 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.
    The mineral resource figures disclosed in this press release are
estimates and no assurances can be given that the indicated levels of gold
will be produced. Such estimates are expressions of judgment based on
knowledge, mining experience, analysis of drilling results and industry
practices. Valid estimates made at a given time may significantly change when
new information becomes available. While the Company believes that the
resource estimate included in this press release is well established, by their
nature resource estimates are imprecise and depend, to a certain extent, upon
statistical inferences which may ultimately prove unreliable. Mineral
resources are not mineral reserves and do not have demonstrated economic
viability. There is no certainty that mineral resources can be upgraded to
mineral reserves through continued exploration.
    Due to the uncertainty that may be attached to inferred mineral
resources, it cannot be assumed that all or any part of an inferred mineral
resource will be upgraded to an indicated or measured mineral resource as a
result of continued exploration. Confidence in the estimate is insufficient to
allow meaningful application of the technical and economic parameters to
enable an evaluation of economic viability worthy of public disclosure, except
in certain limited circumstances set out in National Instrument 43-101.
Inferred mineral resources are excluded from estimates forming the basis of a
feasibility study.

    
    /NOTE TO PHOTO EDITORS: A photo accompanying this release is available on
    the CNW Photo Network and archived at http://photos.newswire.ca.
    Additional archived images are also available on the CNW Photo Archive
    website at http://photos.newswire.ca. Images are free to accredited
    members of the media/
    





For further information:

For further information: on Talon please visit the Company's website at
www.talonmetals.com or contact: Erica Belling, VP Investor Relations, Tau
Capital Corp., Tel: (416) 361-9636 x 243, Email: ebelling@taucapital.com

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