TALONX RESOURCES LIMITED — Capital/Financing Update 2007

Jun 24, 2007

MOUNT BURGESS MINING N.L.

ACN: 009 067 476

Level 4, 109 St Georges Terrace, Perth, Western Australia, 6000 PO Box Z5301, St Georges Terrace, Perth, Western Australia, 6831 Email: mtb@mountburgess.com Telephone: (61 8) 9322 6311 Facsimile: (61 8) 9322 4607 Website: www.mountburgess.com

ASX RELEASE

25 June 2007

Kihabe Zinc Project, Botswana Mount Burgess Mining N.L. 100%

FURTHER DIAMOND CORE ASSAYS SHOW HIGHER GRADES COMPARED TO RC DRILL RESULTS

Assay results using AX-OES have been received for core samples from diamond drill holes KDD106 and KDD108 (KDD107 was abandoned prior to reaching mineralisation). Where comparable, it appears that the same zones of mineralisation intersected in both RC and diamond core drilling are vielding higher grade results from diamond core as opposed to RC drill results used for the initial resource calculation and previously released to the market.

KDD108 was drilled on section 10,000mE in between RC drill holes KIH001 and KIH004, previously drilled 25m apart, intersecting a 12m wide mineralised zone from 60m vertical depth (RL) and a second 14m mineralised zone from 102m RL.

The RC and diamond core results for the same mineralised zones are outlined below.

Section 10,000mE			Reported Results from previous RC Drilling Results from Diamond Drilling
	KIH001	KIH004	KDD108
Zone 1 - From 60mRL	$12m@4.31\% Zn \perp 12m@2.66\% Zn$		l 12m @ 4.36% Zn
l Zone 2 – From 102mRL	Zone not drilled	14m @ 1.75% Zn	14m @ 4.18% Zn

The above increases in diamond core grades are similar to the increase in grade from KDD105, drilled on section 9,900E and announced to the market on the 8th of May 2007, as follows:

Section 9,900mE			Reported Results from previous RC Drilling Results from Diamond Drilling
	KRC015	KRC034	KDD105
Zone from 127mRL	28m @ 1.62% Zn	28m @ 1.61% Zn	$28m@3.24\% Zn$

Results from further diamond drill core assays will be reviewed and compared with RC sample results where possible to determine whether, overall, diamond drilling results will enhance the Kihabe resource grade. However, the Company continues to be encouraged by these results. The Company has now completed cutting all core recovered from the last round of diamond drilling. These core samples are now being prepared for assaying. Once sufficient results have been received from assaying, core can then be selected for metallurgical test work to determine metal recoveries.

Results from KDD106 and KDD108 are detailed below:

Collared at 9,900E/9,991N, Dip - 60 deg, Azimuth 339 deg. KDD106 Drilled to test for mineralisation past 50m RL. The hanging wall dolomite/quartzite contact was logged at 47m.

The grades and section widths reasonably correlate with those obtained from KRC036 drilled roughly 5m to the west.

From To		Zn	Pb	Ag
60-61					2m	0.58
$61 - 62$					18g/t	oz/t
62-63
63-64
64-65
65-66
66-67			2m
67-68			$0.85\%$
68-69
69-70
70-71			0.55%
$71 - 72$
72-73			0.57%
73-74
74-75
75-76			$0.51\,\%$
76-77		29m 1.88%
77-78
78-79 79-80			$0.58\%$
					$4m$ 11g/t	0.35 oz/t
80-81			2m $0.85\%$
$81 - 82$ 82-83
83-84
84-85
85-86					$\bar{5}\text{m}$	0.41
86-87			6m 0.76%		12.6g/t	oz/t
87-88
88-89
89-90
90-91
94-95			2m		35g/t	1.13 oz/t
95-96			1.50%
96-97
97-98
98-99			2m
99-100			$0.71\,\%$
$100 - 101$		14m
101-102		2.28%	3m		10g/t	0.32 oz/t
102-103			0.67%
103-104
104-105
105-106
106-107			3m 0.63%
107-108
$111 - 112$		2m	2m		2m	0.42
112-113		$3.76\%$	$1.58\%$		13g/t	oz/t

End of Hole 120m

KDD108 Collared at 10,000E/10,003N, Dip - 70 deg, Azimuth 339 deg. Drilled to test for mineralisation past 100m RL. The hanging wall dolomite/quartzite contact was logged at 20m.

End of Hole 130.5m

The Company has recently engaged the services of a consulting structural geologist familiar with the local Proterozoic geology at Kihabe, to conduct a structural review of the diamond core in order to best determine where future in-fill drilling should be conducted. It is believed that by better understanding the higher grade zones that exist within the resource and confirming these with additional in-fill drilling, there is a possibility of further enhancing the grade of the Kihabe resource. The Kihabe resource currently stands at 11 million tonnes @ 2.55% zinc equivalent to a vertical depth of 150m. Potential exists to extend this resource both along strike and at depth.

The information in this report that relates to exploration results, together with any related assessments and interpretations, is based on information compiled by Mr Giles Rodney (Rod) Dale of G R Dale & Associates, who is a non-executive Director of the Company. Mr Dale is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Dale has sufficient experience which is relevant to the style of mineralisation under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves". Mr Dale consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

For further information please contact:

Nigel Forrester CEO Mount Burgess Mining N.L $T: ++ 61893226311$ $F: ++ 61893224607$ W: www.mountburgess.com or Rod Dale Technical Director - Geology