Response to Queries

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_____________________________________________________
26 August 2021

ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (ASX, NZX:NTL)
FOR IMMEDIATE RELEASE

The company has received queries from the New Zealand Shareholders Association in respect
of the 2021 Annual Report.
To ensure all shareholders have access to the same information please find below the queries
and the response from the company.
• The “Sundry Income” of $246k (out of total revenue of $247k). There is no
breakdown or explanation provided as to what comprises this income?
Sundry income this year comprises of:
2021 FY 2020 FY
Capital gain on disposal of
fixed assets
$1,304 -
Net stock on hand
movement
$244,745 $35,048
Total Sundry Income (per
financial statements)
$246,049 $35,048

• An increase in “Stock on Hand” of $244k (note 15, Cashflow Reconciliation),
that does not appear on the Balance Sheet as a current asset.
Stock is grouped under the Receivables and Prepayments subtotal (consistent with prior
year treatment). This grouping is not particularly helpful and in future years it will be
broken out as a separate line item, including prior year comparable.
The breakdown of Group Other Receivables and Prepayments and Inventory is as below:
2021 FY 2020 FY
Stock on hand $314,275 $69,530
Sundry Receivables $24,712 $27,986
Prepayments $75,656 $81,103
Total Receivables and
Prepayments

$414,643

$178,619

There is no impact on the Total Current Assets and Total Assets as disclosed.

547 Parnell Rd, Parnell, Auckland 1052
Office +64 9 303 1893
info@newtalisman.co.nz

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• Further detail on the ‘related party transaction outlined in note 9 of the
accounts.

- Related party creditors relate to unpaid Directors Fees owed by the Company to Mr
Nader of $40,000 and unpaid technical consulting fees owed to Mr Stevens $8,394.

- Payments for consulting services of $338,499 were to entities associated with Mr
Hill ($288,000) and Mr Stevens ($7,299) with the remainder being GST ($43,200).
- Note that the amount relating to Mr Hill ($288,000 excl. GST) is also separately
disclosed in Note 5 Director Remuneration (2021 reproduced below) i.e. it relates
to the same amount, disclosed in two different notes.

DIRECTOR AND EMPLOYEE REMUNERATION

Director remuneration
2021
NZ$
MG Hill (Executive Director)* 288,000
C Nader 40,000
A V Haworth 13,333
M R Stevens 32,000


We also note there was a numbering error on page 25 of the Annual Report where both the
Lease Liabilities Note and the Receivables and Prepayments Note are both labelled Note 23.
We also Note that Mr Hills biography was carried forward from the prior year, please refer to
the company website for an updated biography. We thank the NZSA for bringing these matters
to our attention.


Sarah Jane Bell
Company Secretary
NEW TALISMAN GOLD MINES LIMITED