TALONX RESOURCES LIMITED — Capital/Financing Update 2013

Jan 8, 2013

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9 January 2013

KIHABE – NXUU Zn/Pb/Ag PROJECT, WESTERN NGAMILAND, BOTSWANA AND NE NAMIBIA

Mount Burgess Mining NL (MTB) is pleased to announce the appointment of PCF Capital Group to assist in sourcing a Strategic Partner for its Kihabe and Nxuu Zinc/Lead/Silver Project located in Botswana.

Kihabe and Nxuu are near surface SEDEX style deposits which have shown excellent metallurgical recoveries (refer table attached) and host combined JORC compliant indicated and inferred resources of over 25Mt at 3% ZnEq (refer resource statement attached). Both the Kihabe and Nxuu deposits have the potential to be open cut mining operations and a Strategic Partner is sought to acquire an interest in the Project and to fund a feasibility study.

The Kihabe deposit is open at depth. Recent geochemical soil sampling has generated seven new Zn/Pb anomalies and one Cu/Co anomaly, all within an 8 km radius of the two main deposits.

The Kihabe and Nxuu deposits are contained within a 3,000 square kilometre neo Proterozoic belt spanning the border between NE Namibia and NW Botswana which is controlled by MTB and confirms the world class potential of the region. MTB Managing Director, Nigel Forrester said that the decision to seek a Strategic Partner couldn’t be better timed given the outlook for zinc and upcoming shortage of new mine supply and is a result of an increasing number of enquiries in recent months. PCF Capital Group is a WA based investment banking firm that specialises in sourcing strategic partners and investors for mining projects and has a client base of over 4,000 active companies, institutions and investors from over 100 countries including very strong relationships with Chinese private and state owned enterprises. PCF recently advised Shandong Gold on its $225M investment in Focus Minerals and Kagara Limited (Administrators Appointed) on the $40M sale of the Central Project to Chinese and Australian interests.

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.

ACN: 009 067 476 8/800 Albany Hwy East Victoria Park Western Australia 6101 Tel: (61 8) 9355 0123 Fax: (61 8) 9355 1484 mtb@mountburgess.com www.mountburgess.com

KIHABE- NXUU RESOURCE STATEMENT

Deposit	External Cut %	Indicated M Tonnes %	Inferred M Tonnes %	Total M Tonnes %
Kihabe	1.5%	11.4 @ 2.90%*	3.0 @ 2.60%*	14.4 @ 2.84%*
Nxuu	0.3%	-	10.9 @ 3.20%*	10.9 @ 3.20%*
		11.4 @ 2.90%*	13.9 @ 3.07%*	25.3 @ 3.00%*

*Zinc Equivalent Grade

Kihabe resource calculated on metal Zn US$1,810/t Pb US$1,955/t Ag US$18.75/oz prices as at 17 July 2008: Grades applied: Zn 1.75% Pb 0.76% Ag 6.93 g/t

Nxuu resource calculated on zinc and lead at US$ par Grades applied: Zn 1.8% Pb 1.4%

The information in the resource statement that relates to the Kihabe Resource is compiled by Byron Dumpleton, B.Sc., a member of the Australasian Institute of Geoscientists. The information that relates to the Nxuu Resource is compiled by Mr Ben Mosigi, M.Sc., (Leicester University – UK), B.Sc., (University of New Brunswick – Canada), Diploma Mining Tech (Haileybury School of Mines – Canada), a member of the Geological Society of South Africa.

Mr Dumpleton is an independent qualified person and Mr Mosigi is a Technical Director of the Company. Both Mr Dumpleton and Mr Mosigi have sufficient experience relevant to the style of mineralisation under consideration and to the activity to which they have undertaken to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code of Reporting of Mineral Resources and Ore Reserves”. Both Mr Dumpleton and Mr Mosigi consent to the inclusion in this report of the matters based on the information in the form and context in which it appears.

KIHABE-NXUU METAL RECOVERIES

Independent metallurgical testwork has confirmed the metal recoveries shown in the table below. Accordingly the Company believes these recoveries are achievable. Zinc recovered from acid leaching oxide zones will enable Zn metal to be recovered on site from electro-winning.

DEPOSIT	Zone	Time	Zinc	Lead	Silver
Kihabe
Oxide Zone
Acid leaching @40oC 30 kg/t acid	Oxide *	24 hrs	96.9%	91.9%	n/a
Sulphide Zone
Rougher flot	Sulphide	90 seconds	91.9%	84.8%	94%
	Sulphide	15.5 mins	93.8%	88.1%	96.4%
Nxuu
All Oxide
Acid leaching @25OC 30 kg/t acid	Oxide *	12 hrs	93%	93%	n/a

* Note: Zn mineralisation in the oxidised zones is hosted within Smithosonite and Baileychlore and independent test work has confirmed both of these are amenable to acid leaching.