Talon Metals Reports Second Quarter 2017 Results
Road Town, August 11, 2017 - Talon Metals Corp. (TSX: TLO) ("Talon" or the "Company") reported a net loss for the three months ended June 30, 2017 of $1.7 million or $0.01 per share (basic and diluted), which was primarily the result of the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan and administration expenses. This compares to a net loss for the three months ended June 30, 2016 of $2.1 million or $0.02 per share (basic and diluted), which was primarily the result of the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan, administration expenses and a loss on investments. The Company's net loss for the six month period ended June 30, 2017 was $3.6 million or $0.03 per share (basic and diluted). This compares to a net loss of $0.3 million or nil per share (basic and diluted) for the same period in the prior year.
Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-PGE Project for the three months ended June 30, 2017 amounted to $0.2 million. This compares to $0.3 million for the three months ended June 30, 2016. The total capitalized exploration cost on the Tamarack Nickel-Copper-PGE Project to June 30, 2017 amounts to $38.2 million.
Condensed Consolidated Interim Financial Statements for the three and six months ended June 30, 2017 and 2016, together 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 Tamarack Nickel-Copper-PGE Project in Minnesota, USA (which comprises the Tamarack North Project and the Tamarack South Project). The Company has a well-qualified exploration and mine management team with extensive experience in project management.
For additional information on Talon, please visit the Company's website at www.talonmetals.com or contact:
Sean Werger
President
Talon Metals Corp.
Tel: (416) 361-9636 x102
Email: werger@talonmetals.com