TALONX RESOURCES LIMITED — Capital/Financing Update 2005

May 5, 2005

MOUNT BURGESS MINING N.L.

ACN: 009 067 476

Level 5, 178 St Georges Terrace, Perth, Western Australia, 6000 PO Box 7200, Cloisters Square, Perth, Western Australia, 6850 Telephone: (61 8) 9322 6311 Email: mtb@mountburgess.com Facsimile: (61 8) 9322 4607 Website: www.mountburgess.com

Our Ref: ASX2005 Announcements

6 May 2005

The Australian Stock Exchange Limited Company Announcements Office 10th Floor 20 Bond Street Sydney NSW Australia

Dear Sir,

The Company is pleased to announce that it has reached agreements to place 5,000,000 shares at an issue price of \$0.08 per share to raise \$400,000.

Funds from the placement will be applied to gravity surveys, geophysical programmes and drilling on both the Company's diamond and base metals projects in Namibia and Botswana.

Yours faithfully,

Nigel Forrester Managing Director