ROAD TOWN, Tortola, British Virgin Islands, Aug. 13 /CNW/ - Talon Metals
Corp. ("Talon" or the "Company") (TSX: TLO) reported a loss for the three
month period ended June 30, 2007 of $978,845 or $0.04 per share (basic and
diluted) primarily due to a $657,500 unrealized loss on investment in shares
of Brazauro Resources Corporation ("Brazauro"). Earnings for the six month
period were $8,467,901 or $0.31 per share (basic and diluted) mainly 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 $858,970 or
$0.03 per share (basic and diluted) for the three months ended June 30, 2006
and a loss of $968,563 or $0.04 per share (basic and diluted), for the six
month period last year.
Capitalized exploration for the second quarter of 2007 amounted to
$601,661 and for the six month period $1,107,029. The total capitalized
exploration to June 30, 2007 was $8,533,707 and mainly reflects work performed
on the Sao Jorge Gold Project in Para State, Brazil.
Consolidated Interim Financial Statements for the three and six months
ended June 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 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: firstname.lastname@example.org