Road Town, British Virgin Islands--(Newsfile Corp. - November 10, 2017) - Talon Metals Corp. (TSX: TLO) ("Talon" or the "Company") reported a net loss for the three months ended September 30, 2017 of $743,622 or $0.01 per share (basic and diluted), which was primarily the result of a loss on the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan and administration expenses. This compares to net income for the three months ended September 30, 2016 of $112,754 or nil per share (basic and diluted), which was primarily the result of a gain on the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan offset by administration expenses.
The Company's net loss for the nine month period ended September 30, 2017 was $4,340,894 or $0.03 per share (basic and diluted). This compares to a net loss of $184,594 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 September 30, 2017 amounted to $0.1 million. This compares to $0.2 million for the three months ended September 30, 2016. The total capitalized exploration cost on the Tamarack Nickel-Copper-PGE Project to September 30, 2017 amounts to $38.4 million.
Condensed Consolidated Interim Financial Statements for the three and nine months ended September 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
