TALON METALS FILES PRELIMINARY PROSPECTUS IN CONNECTION WITH ITS $25 MILLION BOUGHT DEAL FINANCING

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TSX:TLO

ROAD TOWN, Tortola, British Virgin Islands, April 13 /CNW/ - Talon Metals Corp. ("Talon" or the "Company") (TSX: TLO) is pleased to announce that it has filed a short form preliminary prospectus with the securities regulatory authorities in certain provinces of Canada, in connection with its previously announced bought deal offering led by Dundee Securities Ltd. and Salman Partners Inc., and including Haywood Securities Inc. and Raymond James Ltd. (the "Underwriters").

The short form prospectus qualifies the distribution (the "Offering") of 9,804,000 units (the "Units") of the Company at a price of $2.55 per Unit (the "Offering Price"), with each Unit consisting of one common share in the capital of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant").  Subject to acceleration of the expiry time in certain circumstances, each Warrant will entitle the holder thereof to purchase one Common Share (each, a "Warrant Share") at a price of $3.10 at any time up to 5:00 p.m. (Toronto time) on the date which is 18 months from the closing date, anticipated to be on or about May 5, 2011.

An electronic copy of the short form preliminary prospectus will be available on the SEDAR website at www.sedar.com

The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or under any U.S. state securities laws and may not be offered or sold in the United States, absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Talon
Talon is a TSX-listed company focused on the exploration and development of the Trairão Iron Project. The Company has a well-qualified exploration and management team with extensive experience in exploration and project management.

Forward-Looking Information
This news release contains forward-looking information. 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 potential mineralization and the Company's exploration plans) are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is 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 information, 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, risks related to the exploration stage of the Company's properties, the possibility that future exploration results will not be consistent with the Company's expectations (including identifying additional and/or deeper mineralization), changes in the price of iron ore, changes in equity markets, political developments in Brazil, uncertainties relating to the availability and costs of financing needed in the future, changes to regulations affecting the Company's activities, delays in obtaining or failures to obtain required regulatory approvals, the uncertainties involved in interpreting exploration results and other geological data and the other risks involved in the mineral exploration business. Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, 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 information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

SOURCE Talon Metals Corp.

For further information:

For additional 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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Talon Metals Corp.

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