Talon Metals reports positive metallurgical results for the Trairão Iron Project, Brazil
Friday, Nov 23, 2012

ROAD TOWN, TORTOLA, British Virgin Islands, Nov. 22, 2012 /CNW/ - Talon Metals Corp. ("Talon" or the "Company") (TSX: TLO) is pleased to announce positive metallurgical results from its 100% owned Trairão Iron Project ("Trairão Project"), located in Pará State, Brazil.

Following the Company's press release dated September 27, 2012, the magnetite-rich mineralization samples (from the fresh rock portion of the
Trairão Project), which were previously tested using Davis Tube at P100 passing 45 microns, were selected for further Davis Tube testing at a finer grind of 25 microns.  The metallurgical test results from these samples confirm that in the vast majority of cases, the concentrate grades increase significantly with finer grinding, indicating that a premium grade product can be attained from the Trairão Project.

"The latest batch of results from the Davis Tube metallurgical tests conducted on the fresh rock is in line with our expectations", said Henri van Rooyen, CEO of Talon.  "These results confirm that a high grade concentrate product can be produced from both the BIF and magnetite-rich mineralization, where the potential for resource expansion at the Trairão Project lies.  Due to this positive development, we are in the process of retaining CRU Group to work with Talon and Ausenco to identify an optimal product for each rock type in the stratigraphic column in order to serve both local and export markets, which we expect will maximize future cash flows."

Metallurgical Test Work Details

Thirty samples of magnetite-rich mineralization were submitted to SGS in
Lakefield, Ontario for Davis Tube testing at a grind P100 of 25 microns (as compared to 45 microns previously) using low magnetic intensity separation of 800 Gauss to produce a Fe concentrate.

Concentrate grades increased significantly with finer grinding, with grades ranging between 58.9% and 71.3% Fe (notably, only three samples produced concentrate grades below 62% Fe), with the average Fe grade increasing from 60.1% to 67.1%. Mass yield ranged from 6.4% to 26.9% (compared to 10.3% to 28.6% at 45 microns), while the average mass yield was reduced from 20.2% to 17.4%. Metallurgical recoveries ranged from 21% to 63% (compared to 16% to 64% at 45 microns), with the average metallurgical recovery remaining constant at 46%. Aluminum grades ranged from 0.15% to 2.8% (compared to 0.2% to 5.1% at 45 microns), while average aluminum grades were reduced from 1.56% to 0.83%. Silica ranged from 1.62% to 11.9% (compared to 2.5% to 31.1% at 45 microns), while average silica was reduced from 11.7% to 4.9%.  Phosphorous varied between 0% and 0.05%.

In regards to developing high grade iron ore supply for the local Brazilian
market from the surficial deposit at the Trairão Project, evaluation of samples collected during the Company's recent exploration program (commissioned after asigned Letter of Intent with a potential off-taker) remains on-going.  In addition, the Company is currently reviewing the suitability of the high grade iron ore supply from the Trairão Project to an existing processing facility, which is owned by the potential off-taker.

New Opportunity Update In line with the Company's updated corporate strategy that was previously announced on September 27, 2012, the Company has already commenced due diligence on a number of advanced opportunities that could generate cash flow for the Company in the near-term.  Many of these opportunities also have substantial exploration upside potential.  The Company will provide a further update as soon as any of these opportunities materialize.

Qualified Person

Talon's exploration programs are being managed by Mr. Mauricio Prado (MAIG), Vice President, Resource Modeling of Talon. Mr. Prado is a Qualified Person within the meaning of National Instrument 43-101 ("NI 43-101"). Mr. Prado is satisfied that the processes used by SGS are standard industry operating procedures and methodologies, and he has reviewed, approved and verified the technical information disclosed in this news release including sampling, analytical and test data underlying the technical information.

For further information on the Trairão Project, please refer to the technical report entitled "Fourth Independent Technical Report on Mineral Resources" dated March 30, 2012, a copy of which is available under Talon's SEDAR profile at www.sedar.com.

The metallurgical test work discussed in this news release was conducted by SGS in Lakefield, Ontario. SGS is independent of Talon.

About Talon Talon is a TSX-listed company focused on the exploration and development of its iron projects in Brazil. The Company has a well qualified exploration and mine management team with extensive experience in project management.

Talon has approximately 92 million common shares outstanding and approximately 105 million shares on a fully diluted basis.

SOURCE Talon Metals Corp.

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