ROAD TOWN, Tortola, British Virgin Islands, May 12 /CNW/ - Talon Metals
Corp., ("Talon" or the "Company") (TSX: TLO) reported net earnings for the
three month period ended March 31, 2009 of $579,704 or $0.02 per share (basic
and diluted). This was primarily the result of the Company selling the
remaining shares of its investment in Brazauro Resources Corporation.
This compares to a net loss of $729,548 or $0.03 per basic share (basic
and diluted) for the three months ended March 31, 2008 which was primarily the
result of operating expenses and unrealized losses on investments.
Capitalized exploration for the first quarter of 2009 amounted to
$124,825 and was mainly related to work done on some of Talon's gold projects,
including the São Jorge Gold Project. The total capitalized exploration to
March 31, 2009 was $8,293,750 and mainly reflected work performed on the São
Jorge and agua Branca Gold Projects.
Consolidated Interim Financial Statements for the three months ended
March 31, 2009, 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 further information:
For further information: on Talon please visit the Company's website at
www.talonmetals.com or contact Erica Belling, CFA, P.Eng., VP Investor
Relations, Tau Capital Corp., Tel: (416) 361-9636 x 243, Email: