Talware Networx Inc.: Press Release

TORONTO, ONTARIO (TSX VENTURE: JBS) announces that it has terminated the previously announced letter of intent with 2101927 Ontario Inc. (the "Vendor") to acquire all of the Vendor's right, title and interest in a group of mining licenses and claims in Northern Ontario. As a result, the management of Talware is no longer proceeding with this change of business transaction (the "Transaction") and the planned divestiture of its software assets at the present time.

In connection with the Transaction, Talware completed a non-brokered private placement offering (the "Financing") of 4,795,002 subscription receipts (the "Subscription Receipts") for aggregate gross proceeds of $719,250. In accordance with the subscription receipt agreement entered into concurrently with the Financing, all of the gross proceeds have been returned to the subscribers of the Subscription Receipts.

Talware's common shares will remain halted from trading on the TSX Venture Exchange pending clarification from the Ontario Securities Commission (the "OSC") with respect to the OSC's review of the Company's recent submission regarding certain continuous disclosure filings.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Talware believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Talware disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Talware Networx Inc. Paul Vorvis Director [phone] [phone] (FAX) Email: [e-mail]