PILOT PLANT UPDATE

Market Announcement
ASX:NTL, NZX:NTL
For Immediate Release




Commodity Exposure

New Talisman Gold Mines Limited

Responsible,
Environmentally
Sustainable Mining

ASX/NZX Code NTL
____________________

Commodity Exposure
GOLD and SILVER

Board and Management

Charbel Nader Chairman/Independent Director
Matthew Hill CEO/Managing Director
Murray Stevens Non Executive Director
Tony Haworth Independent Director
Jane Bell Company Secretary
Wayne Chowles Chief Operating Officer


Capital Structure
Ordinary Shares at 24/7/2019 2,416m

Share Price
Share Price at 25/07/2019 (NZX) 0.8cps
Share Price at 25/07/2019 (ASX) 0.8cps



New Talisman Gold Mines Limited
ACN
Address 541 Parnell Rd, Parnell,
Auckland
Phone +64 27 5557737
Website www.newtalisman.co.nz
Email info@newtalisman.co.nz


Metallurgical testwork underway
The Board of New Talisman Gold Mines Limited is delighted to announce
that commissioning of the pilot processing facility, following grant of
resource consent in early July, is now complete and processing of the high
grade samples taken from the Talisman Mine has begun. The first gold
concentrate has been produced and samples of tailings have been sent off
for assaying as the plant is tuned to the optimal recovery rate.

The components that make up the plant are functioning well, the mill is
consistently achieving the desired grind size and good separation of metals
and gangue minerals through the concentrator and shaker table is being
achieved. While much work remains on optimizing the performance of the
plant and assessing whether target recovery rates will be achieved, this is a
significant step for the company on the path of developing the Talisman
Mine.

This plant is a scale model of the envisaged commercial facility and seeks to
replicate the output from testwork carried out in South Africa in early 2018
which indicated that economic recovery of precious metals can be achieved
through a gravity only circuit without the use of any harmful chemicals such
as cyanide. The resultant tailings will be inert and can be disposed of in a
number of ways without any environmental consequences.

CEO Matthew Hill said “We are very pleased with the progress at the pilot
plant with the first small volumes of gold concentrate being produced from
the Talisman Mine which have now been sent off for assaying. Once optimal
recovery rates are achieved processing of larger samples and design of a
larger volume plant can commence“






PILOT PLANT COMMISSIONED

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 to 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 one of New Zealand’s highest-grade underground gold mines, a JORC 2012 compliant mineral
resource of over 469,000 ounces AuEq at an average above 15 g/t AuEq and a JORC compliant reserve
statement.




Testwork will concentrate on assessing a number of key factors associated with the
gravity separation process, namely:
• Reliably achieving economically viable recovery of gold and silver;
• The effect of various grind sizes on the precious metal yield;
• Efficiently removing sulphide minerals from the ore to achieve an inert waste
product suitable for industrial applications.
It is expected that the test phase will be completed by September 2019 and the
output will provide the metallurgical data required to support an application for a
larger volume plant, as well as producing small quantities of concentrate and
bullion.



Matthew Hill
CEO
New Talisman Gold Mines Limited