Extraction of High Grade Ore Commences at Talisman

Commodity Exposure

GOLD and SILVER

Board and Management

Charbel Nader
Chairman/Independent Director

Matthew Hill
Chief Executive/Managing Director

Murray McKee
Independent Director

Murray Stevens
Non executive Director

Tony Haworth
Independent Director

Jane Bell
Company Secretary

Wayne Chowles
Chief Operating Officer

Ash Clarke
Chief Financial Officer


Capital Structure

Ordinary Shares on issue -
2,164,503,303

Listed Options
17,036,384 Expiry 30/09/2022
exercise price NZ$0.055 each


www.newtalisman.co.nz
Phone - +64 27 5557737
Email – matt@newtalisman.gold
541 Parnell Road, Parnell, Auckland
Market Announcement
ASX: NTL, NZX: NTL
For Immediate Release
HIGHLIGHTS
• Rehabilitation reaches 600m underground;
• Sampling of broken ore stockpiles underground
yields positive results;
• Metallurgical testwork for concentrator plant
underway;
• Extraction of high grade ore commences
New Talisman Gold Mines is delighted to announce that extraction and stockpiling
of ore has commenced at the Talisman mine site. The ore is currently being
stockpiled while preparation for treatment options are being reviewed.



EXTRACTION OF HIGH GRADE ORE COMMENCES AT TALISMAN

Mi ne Devel opme nt
Refurbishment of the underground workings continues with excellent progress being made
by the underground team. Remedial works on the underground bridge are now complete and
vehicle access into the workings beyond is possible.
Works have now progressed more than 600m into the mine and are now at the location of
the second bypass.
This area forms the intersection between several historic tunnels and has posed some unique
challenges to the team. In one area, when removing the existing sets, it became apparent that
a septum separating the 8 Level Drive from an old rise over the drive, had collapsed. Working
through this area involved creating an artificial septum from timber. We are pleased that this
was accomplished without incident. This is the final step to make the No 8 level drive fully
trafficable all the way to the Mystery Workings. The project remains on schedule to
commence blasting on the Mystery vein in early 2018.
Activities continue in full swing at the Talisman Mine with two locations having been identified
through which access to No’s 9 and 10 level may be achieved. A detailed geotechnical
assessment of these areas is underway. Access to these levels will allow the team to undertake
sampling activities in the highly prospective areas of the high-grade Dubbo Zone directly
below the area delineated by the 2004 exploration programme. The intersection of the Maria
vein by borehole BM37 assayed at 623g/t over 1.8m which included 1154g/t over 1.0m. the
presence of a high-grade shoot was further supported by analysis carried out in the recent
mineral resource upgrade. Several sources of broken ore having been identified.
Grab samples taken of an ore stockpile on 7 Level has yielded assay results of between 5.8g/t
and 8.18g/t Gold and between 16g/t and 70g/t Silver. It is estimated that the pile contains
between 90 and 140 tonnes of ore which is readily available at a very low cost.
Grab samples taken from broken ore flowing from an historic stope adjacent to the No 8 Level
Second Bypass have assayed at between 4.53 and 7.68 g/t gold and 38 and 45 g/t silver.
Figure 1 - The photograph above shows failure of
the hangingwall above historic sets. To the right
is a photo of the area after the sets had been
removed and permanent support installed

Transport of this ore to a stockpile close to the portal is now underway in preparation for
transport to an off-site storage location pending finalisation of the concentrator design.
C onc entr at or Pl ant D e si g n.
Representative samples of ore from both the Mystery and Dubbo veins have been despatched
for testwork in South Africa. This testwork will inform the final design of the plant to ensure
that metal recovery is fit for purpose at rates commensurate with other treatment options.
A detailed update on progress at Talisman project areas is currently being finalised which will
be released as part of the Half Yearly report to be released by the 14
th
December.
Matthew Hill said “With the commencement of removal of gold and silver bearing material
we have reached yet another milestone as we continue well on our way to reestablishing the
Talisman mine. Various treatment options are in the process of being evaluated which will
provide for the production of a high-grade concentrate and we are expecting to have the final
processing route at around the same time as mystery comes online”.

Matthew Hill
Chief Executive Officer
New Talisman Gold Mines Limited
________________________________________________________________________
About New Talisman Gold Mines Ltd
New Talisman Gold is a dual listed (NZSX & ASX: NTL) with over 2250 shareholders who are mainly from
Australia and New Zealand and has been listed since 1986. It is a leading New Zealand minerals
development and exploration company with a mining permit encompassing the Talisman mine, one of
New Zealand’s historically most productive gold mines. The company has commenced prospecting and
upgrading activities at the mine, and advance the exploration project and increase its considerable
global exploration target into JORC 2012 resources.
Its gold properties near Paeroa in the Hauraki District of New Zealand are a granted mining permit,
including New Zealand’s highest-grade underground gold mine, a JORC 2012 compliant mineral
resource of over 427,000 ounces au/eq at an average above 15 gt AU/eq and a JORC compliant reserve
statement. The company owns 100% exploration permit Rahu, which lies along strike from the Talisman
mine of which 80% was recently acquired from Newcrest Mining. The company will shortly commence
exploration activities at Rahu.

Cautionary Statement for Public Release
Certain information contained in this public release may be deemed “forward-looking” within the
meaning of applicable securities laws. Forward-looking statements and information relate to future
performance and reflect the Company’s expectations regarding execution of business strategy,
business prospects and opportunities of New Talisman Gold Mines and its related subsidiaries. Any
statements that express or involve discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance are not statements of historical
fact and may be forward-looking statements. Forward-looking statements are subject to a variety of
risks and uncertainties which could cause actual events or results to differ materially from those
expressed in the forward-looking statements and information. They include, among others, the
accuracy of mineral reserve and resource estimates and related assumptions and inherent operating
risks. There are no assurances the Company can fulfil forward-looking statements and information.

Such forward-looking statements and information are only predictions based on current information
available to management as of the date that such predictions are made; actual events or results may
differ materially as a result of risks facing the Company, some of which are beyond the Company's
control. Although the Company believes that any forward-looking statements and information
contained in this press release is based on reasonable assumptions, readers cannot be assured that
actual outcomes or results will be consistent with such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and information. The Company expressly disclaims
any intention or obligation to update or revise any forward looking statements and information,
whether as a result of new information, events or otherwise, except as required by applicable securities
laws. The information contained in this release is not investment or financial product advice.