Talon Metals Reports First Quarter 2013 Results

TSX:TLO

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.

About Talon

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.