TALONX RESOURCES LIMITED — Capital/Financing Update 2011

Jun 16, 2011

ACN: 009 067 476

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ASX RELEASE 17 June 2011

SHARE PLACEMENT

The Company is pleased to announce that it has reached agreements to place 25,000,000 shares with professional investors, at an issue price of 1.0 cent per share, to raise $250,000.

Funds will be applied to ongoing exploration.

ONGOING EXPLORATION

Tsumkwe Project – Namibia

The abnormally long rainy season has now come to an end and the ground has dried sufficiently to allow access.

The Company plans to drill test:

1. A rare earth target

2. A potential kimberlite target overlain by a recently discovered near-surface sub-outcropping highly silicified brecciated dyke-like body and

3. A Copper/Cobalt anomaly (Makuri-Vlei) recently delineated with soil geochemical sampling.

Kihabe-Nxuu Project, Botswana

At the Company’s Kihabe-Nxuu Zn/Pb/Ag project in Botswana, assays from close-spaced geochemical soil sampling have generated significant soil geochemical anomalies, all with potential to increase the Company’s resource base, as follows:

• Wanchu - (Zn/Pb) 1.2km long anomaly

• Tswee Tswee - (Zn/Pb) 55 hectare anomaly  Target 52 - (Zn/Pb) 4km long anomaly  Lebala - (Zn/Pb/Cu) 10 hectare anomaly

• Copper - (Cu/Co) 2.4km long anomaly

The Company is continuing with soil geochemical sampling over several other prospective areas within its 100%-owned 3,000 sq km neo-Proterozoic belt.