TALONX RESOURCES LIMITED - Capital/Financing Update 2011

ACN 009 067 476

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ASX RELEASE

21 March 2011

DELINEATION OF LARGE ZINC ANOMALY

KIHABE/NXUU BASE METALS PROJECT - BOTSWANA

Continued assaying with an in-field XRF machine has delineated another large discrete zinc soil geochemical anomaly at the Company’s Kihabe-Nxuu base metals project in Botswana.

The Tswee Tswee anomaly was sampled over an area of 9.9 sq km, in which 2,040 soil samples were collected from 10cm below surface and sieved down to – 0.4mm, to collect about 60gms per sample for assaying.

Within the sample grid a discrete zone about 1,700 m long and 325 m wide, defined by a nominal 15 ppm Zn value, has returned elevated assays up to 65ppm Zn. The zone, which covers an area of around 55 ha, is coincident with a vegetation anomaly. On a regional basis background Zn values are less than 10ppm. (See image below) .

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The Kalahari sand cover in the Tswee Tswee region is approximately 35 metres deeper than that over the Kihabe and Nxuu deposits. Therefore it is expected that values for the Tswee Tswee soil sample analyses would be lower than those generated over Kihabe and Nxuu.

Within the last month the Company has assayed over 5,000 soil geochemical samples, collected during 2010. The samples were collected over four prospective areas, all of which have yielded elevated assay values which include copper (Cu), cobalt (Co), zinc (Zn) and lead (Pb). The four prospective areas are:

The Copper anomaly which generated elevated Cu values up to 68ppm (regional back-ground values less than 10ppm) and Co values up to 280ppm, over a strike length of 2.4km, coincident with a linear magnetic high and tree line anomaly.
The Wanchu anomaly which generated elevated Zn values up to 390ppm (regional back-ground values less than 20ppm) and Pb values, over a strike length of 1.1km, coincident with a brown soil and tree line anomaly.
The Target 52 anomaly which generated elevated Zn values up to 120ppm (regional back-ground values less than 10ppm) and Pb values, over a strike length of 4km, coincident with a fold closure and tree line anomaly.
The Tswee Tswee anomaly which previously generated elevated Cu values from regional soil geochemical sampling has now generated elevated Zn values as reported above.

Results from the above anomalies show that the further east these anomalies occur, the lower are their assay values because of the increase in the depth of the Kalahari sand cover to the eastern side of the project.

Selected samples from each of the four anomalies will be submitted to an independent laboratory for analysis.

Drilling will be required to determine the resource potential of these anomalies.

The Company controls 100% of a neo Proterozoic belt of some 3,000 sq km, which spans the Namibian/Botswana border. The Kihabe and Nxuu Zn/Pb/Ag deposits and all of the above anomalies are in Botswana. All are within a radius of 8km of the central Nxuu deposit (Refer to map overleaf).

Samples previously taken on the Namibian side of the border will now be assayed.

The information in this release that relates to exploration results, together with any related assessments and interpretations, is based on information approved for release by Mr. Giles Rodney Dale of GR Dale and Associates. Mr. Dale is a Fellow of the Australian 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 has undertaken 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 this release of matters based on this information in the form and context to which it appears.

About Mount Burgess Mining N.L.

Mount Burgess Mining N.L. is an established and experienced Australian exploration company with interests focused in southern Africa. The Company’s primary asset is the zinc, lead and silver resource currently being developed at Kihabe-Nxuu in North Western Botswana. The Company has tenements covering the entire proterozoic meta-sedimentary belt between Botswana and Namibia. The area has excellent potential for hosting Kimberlites, rare earth elements and base metals, the focus for continuing exploration. Perth based Mount Burgess has been listed on the Australian Stock Exchange since 1985 and has local asset status in Botswana.

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