ROAD TOWN, Tortola, British Virgin Islands, Nov. 13 /CNW/ - Talon Metals
Corp., formerly BrazMin Corp., ("Talon" or the "Company") (TSX: TLO) reported
net income for the three month period ended September 30, 2007 of $8,171 or
$0.00 per share (basic and diluted). This was primarily the result of gains on
investments and mineral properties offsetting operating expenses. Investment
gains were mainly related to the sale of approximately 62% of the Company's
share position in Brazauro Resources Corporation ("Brazauro") announced in
Earnings for the nine month period were $8,476,072 or $0.31 per share
(basic and diluted), largely the result of the sale in the first quarter of
the Company's interest in the Tocantinzinho gold project to Brazauro.
This compares to a loss of $214,142 or $0.01 per share (basic and
diluted) for the three months ended September 30, 2006 and a loss of
$1,182,705 or $0.05 per share (basic and diluted), for the nine month period
Capitalized exploration for the third quarter of 2007 amounted to
$307,415 and for the nine month period $1,364,137. The total capitalized
exploration to September 30, 2007 was $8,192,015 and mainly reflects work
performed on the Sao Jorge Gold Project in Para State, Brazil.
Consolidated Interim Financial Statements for the three and nine months
ended September 30, 2007, 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 Company's website at
For further information:
For further information: Erica Belling, CFA, P.Eng. VP Investor
Relations, Tau Capital Corp., Tel: (416) 361-9636 x 243, Email: