Road Town, British Virgin Islands--(Newsfile Corp. - April 2, 2018) - Talon Metals Corp. (TSX: TLO) ("Talon" or the "Company") reported a net loss for the year ended December 31, 2017 of $3.2 million or $0.02 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 loss for the year ended December 31, 2016 of $1.4 million or $0.01 per share (basic and diluted), which was primarily the result of an investment loss and administration expenses, offset by a gain on the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan.
Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-PGE Project for the year ended December 31, 2017 amounted to $1.8 million. This compares to $21.8 million for the year ended December 31, 2016. The total capitalized exploration cost on the Tamarack Nickel-Copper-PGE Project to December 31, 2017 amounts to $38.9 million.
Consolidated Audited Financial Statements for the years ended December 31, 2017 and 2016, together with Management's Discussion and Analysis and the Company's Annual Information Form, have been filed on SEDAR and are available at www.sedar.com.
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:
Talon Metals Corp.
Tel: (416) 361-9636 x102