Talon Metals Reports Second Quarter 2015 Results

TSX:TLO

ROAD TOWN, Tortola, British Virgin Islands, Aug. 14, 2015 /CNW/ - Talon Metals Corp., ("Talon" or the "Company") (TSX: TLO) reported a net loss for the three month period ended June 30, 2015 of $1.3 million or $0.01 per share (basic and diluted).  This was primarily the result of administration expenses and investment losses.

This compares to a net loss of $1.0 million or $0.01 per share (basic and diluted) for the same period in the prior year.  This was primarily the result of project evaluation and due diligence expenses, administration expenses and foreign currency losses.

The Company's net loss for the six month period ended June 30, 2015 was $2.0 million or $0.02 per share (basic and diluted).  This compares to a net loss of $1.0 million or $0.01 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 (the "Tamarack Project") for the six months ended June 30, 2015 amounted to $10.9 million, compared to $1.9 million for the same period in the prior year.  The total capitalized exploration costs and deferred expenditures on the Tamarack Project to June 30, 2015 amounts to $20.6 million.

Condensed Consolidated Interim Financial Statements for the three and six months ended June 30, 2015 and 2014, 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 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. 

SOURCE Talon Metals Corp.