ROAD TOWN, Tortola, British Virgin Islands, May 10, 2013 /CNW/ - Talon
Metals Corp., ("Talon" or the "Company") (TSX: TLO) reported a net loss
for the three month period ended March 31, 2013 of $1.3 million or
$0.01 per share (basic and diluted). This was primarily the result of
administration expenses and the Company's share of loss in Tlou Energy
Limited ("Tlou Energy").
This compares to a net loss of $1.0 million or $0.01 per share (basic
and diluted) for the three months ended March 31, 2012, which was
largely the result of administration expenses and the Company's share
of loss in Tlou Energy, partially offset by a gain on investments.
Capitalized exploration cost on the Trairão Iron Project for the first
quarter of 2013 amounted to $0.4 million. This compares to $1.0 million
for the same period in 2012. The total capitalized exploration cost on
the Trairão Iron Project to March 31, 2013 amounts to $17.0 million.
Condensed Consolidated Interim Financial Statements for the three months
ended March 31, 2013, 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 exploration and development
of the Trairão Iron Project in Brazil. The Company has approximately
$17.1 million in cash and a well-qualified exploration and mine
management team with extensive experience in project management.
SOURCE: Talon Metals Corp.
For further information:
For additional information on Talon please visit the Company's website at www.talonmetals.com or contact:
Talon Metals Corp.
Tel: (416) 361-9636 x247