Quarterly Activities Report to 30 Sept 2022 incl Cashflow

1

New Talisman Gold Mines
Limited

Responsible,
Environmentally
Sustainable Mining

ASX/NZX Code NTL
______________________

Commodity Exposure
GOLD and SILVER


Board

Samantha Sharif Chair/Independent Director

John Upperton Executive Director
Michael Stiassny Independent Director
Victor Rabone Independent Director

Jane Bell Company Secretary

Capital Structure
Ordinary Shares at 30/09/2022 3,198m


Share Price
Share Price at 30/09//2022 (NZX) $0.003
Share Price at 30/09//2022 (ASX) $0.003



New Talisman Gold Mines Limited

Address 547 Parnell Rd, Parnell,
Auckland
Phone +64 09 303 1893
Website
www.newtalisman.co.nz
Email info@newtalisman.co.nz

Market Announcement
For Immediate Release
New Talisman Gold Mines Limited (NTL) is pleased to present a report on
activities for the quarter ended 30 September 2022.
This quarter the company has been fully focused on progressing our
Strategic Plan – of bringing the Talisman Mine to production.
The Company generated additional capital by the issue of a Convertible
Note for NZ$1 million to advance the strategic plan. The Company will
consider future funding options once the full costings of mining and
processing have been established.
Our former Board Chair, Mr John Upperton has been appointed our
Strategic Plan Delivery Manager, as well as remaining on the Board as an
executive director. Mr Upperton's change of focus enables the company to
press forward with the detailed planning required to support each stage
towards returning underground at the Talisman mine and ore production.
In early October the company met with industry and technical specialists for
a detailed planning session and is now preparing cost and resource
estimates for the various steps required for a safe return to underground
operations.
New Talisman has also sought specialist advice on the possibility of
establishing an underground concentrating plant. Design concepts are
currently being investig
ated, which will then be reviewed through a
metallurgy lens to ensure a high level of gold recovery from the ore. The
processes are designed to operate without harsh chemicals and leave
behind inert tailings, that can be utilised in shotcrete for lining tunnels, and
also in the required backfilling of different parts of the mine.
The company considers this an exciting prospect from an environmental
and efficiency perspective, as it will greatly reduce the need for heavy trucks
in the mine vicinity as well as reduce our carbon footprint by not having to
transport ore to a processing plant. Only a small percentage of mined
material would actually leave the mine.
New Talisman also recently presented to the NZ Resources Conference
held in Greymouth, with favourable feedback received from the wider
industry regarding the new governance and direction of the company. The
increase in NZ gold exploration investment and activity was strongly
evident, and the conference provided an opportunity for New Talisman to
build
relationships with both other industry participants from across
Australasia, as well as regulators.
In addition to our primary focus on returning to production, we are actively
working to increase efficiencies and reduce costs and uncertainties. We
have brought our accounts administration in-
house, and are actively
examining exiting our office in Parnell.
Quarterly Activities Report to 30 September 2022

2
We have also concluded the claim made by former CEO Matt Hill for $145k. Significantly less than the
$818k he initially claimed.
Finally, the company held its ASM on 28th Sept with all resolutions put to the meeting approved. As
your new Board Chair, I would like to thank all shareholders and stakeholders for your continuing
support and we look forward to a progressing our plans.
Tenements
Talisman Mine – MP51326
Capella Vanuatu – PL1851

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Current
Quarter
$NZ



Year to Date
(6 Mths)
$NZ



Nil

(23,504)
Nil
(242,702)
Nil
393
Nil
Nil
Nil



Nil

(33,223)
Nil
(485,100)
Nil
394
Nil
Nil
Nil
(265,813) (517,929)



Nil
Nil
Nil
Nil
Nil
Nil
(1,963)
Nil
Nil



Nil
Nil
Nil
Nil
Nil
Nil
(9,939)
Nil
Nil


(1,963)

(9,939)



Nil
Nil
1,000,000
Nil
Nil
Nil



Nil
Nil
1,000,000
Nil
Nil
Nil

Nil

Nil

732,224
232,919
(2,022)

472,132
492,507
(1,518)

963,121

963,121

APPENDIX 11 (Rule10.8.4)


QUARTERLY REPORT OF CONSOLIDATED CASH
FLOWS
NEW TALISMAN GOLD MINES LIMITED
For Quarter ended 30 Sept 2022
(Referred to in this Quarter as the "Current Quarter")


Quarterly Report of Consolidated Cash Flows in accordance with
Listing Rule 10.8.4. These figures are based on accounts which are
*unaudited. If these figures are based on audited accounts, a
statement is required of any material qualification made by the
auditor. The Mining Issuer *has a formally constituted Audit
Committee of the Board of Directors.


1. CASH FLOWS RELATING TO OPERATING ACTIVITIES
(a) Receipts from product sales and related debtors
(b) Payments for exploration and evaluation
for development
for production
for administration
(c) Dividends received
(d) Interest and other items of a similar nature received
(e) Interest and other costs of finance paid
(f) Income taxes paid
(g) Other (provide details if material)

(h) NET OPERATING CASH FLOWS



2. CASH FLOWS RELATED TO INVESTING ACTIVITIES
(a) Cash paid for purchases of prospects
equity investments
other fixed assets
(b) Cash proceeds from sale of prospects
equity investments
other fixed assets

(c) Loans to other entities
(d) Loans repaid by other entities
(e) Other (provide details if material) - Sale of share investments


(f) NET INVESTING CASH FLOWS


3. CASH FLOWS RELATED TO FINANCING ACTIVITIES
(a) Cash proceeds from issues of shares, options, etc
(b) Proceeds from sale of forfeited shares
(c) Borrowings
(d) Repayments of borrowings
(e) Dividends paid
(f) Other (provide details if material)


(g) NET FINANCING CASH FLOWS


4. (a) *NET INCREASE (DECREASE) IN CASH HELD
(b) Cash at beginning of quarter/year to date
(c) Exchange rate adjustments to Item 4(a) above



(d) CASH AT END OF QUARTER

Page | 2


Amount Available
$NZ

Amount Used
$NZ





Current Quarter
$NZ

Follo wing Quarter
$NZ

Nil

Nil

6,240

50,000

6,240

50,000


Current Quarter
$NZ

Previous Quarter
$NZ

858,121


127,920


Nil

Nil

Nil

Nil

105,000

105,000


963,121



232,920


5. NON-C ASH FINANCING AND INVESTING ACTIVITIES

(a) Provide details of financing and investing transactions which have had a material effect on consolidated assets and
liabilities but did not involve cash flows:

Nil....................................................................................................................................................

(b) Provide details of outlays made by other entities to establish or increase their shares in projects in which the reporting
entity has an interest.

Nil..............................................................................................................................................................................

.
6. FINANCING FACILITIES AVAILABLE


Provide details of used and unused loan facilities and
credit standby arrangements, adding such notes as are
necessary for an understanding of the position.


N/A................................................................................


..........................................................................................


..........................................................................................



7. ESTIMATED OUTLAYS FOR SPECIFIED QUARTERS



(a) Exploration and evaluation



(b) Development



TOTAL




* The outlays to be shown in this column are the estimates made for this quarter in the previous quarterly report. Where
these estimates differ by more than 15% from the actual outlays reported in Item 1(b) of this report, provide an
explanation of the reason(s) for these differences as an attachment to this report – see Annexure 1.

8. RECONCILIATION OF CASH

For the purposes of this statement of cash flows, cash includes:

Petty cash, Westpac cheque & savings accounts, ANZ accounts, NAB & Macquarie accounts.


Cash at the end of the quarter as shown in the statement
of cash flows is reconciled to the related items in the
amounts as follows:


Cash on hand and at bank



Deposits at call and Term Deposits



Bank overdraft



Other (provide details) - Bond



TOTAL = CASH AT END OF QUARTER [Items
4(d)/4(b)]





*

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Tenement
Reference

Nature of
Interest

Interest at
Beginning
of Quarter

Interest at End
of Quarter

a) N/A



b) N/A


9. CHANGES IN INTERESTS IN MINING TENEMENTS


(a) Interests in mining
tenements relinquished,
reduced and/or lapsed

(b ) Interests in mining
tenements acquired
and/or increased

(c) Where changes are
reported in (a) and/or (b),
an amended list of
interests in mining
tenements is attached to
this statement.

10. ISSUED AND QUOTED SECURITIES AT END OF CURRENT QUARTER

Category of Securities Number Issued Number Quoted Paid-Up Value Cents
PREFERENCE SHARES Nil Nil
ORDINARY SHARES

3,198,072,105 3,198,072,105
SHARES
Issued during current
quarter:
Nil Nil
CONVERTIBLE NOTES: Nil

Nil

Issued during current
quarter
Nil

Nil

OPTIONS:



Exercise Price / Expiry Date

Quoted
Nil Nil
Issued during current
quarter
Nil Nil
Expired during current
quarter
Nil Nil
Not quoted and not
transferable



Nil

Nil


Issued during current
quarter

Nil

Nil

WARRANTS:
Nil Nil
DEBENTURES – totals
only:
Nil Nil
UNSECURED NOTES –

totals only:

Nil Nil


Jane Bell (Company Secretary)
Authorised Officer of Listed Issuer
30 September 2022

Page | 4

Annexure 1

The actual development expenditure for the quarter was $9,718 compared to a budget of $100,000. The reason for the variance
was due to a change in the Companies planned activities due to the Strategic Plan announced in April 2022.

List of interest in mining permits:

Talisman Mine – MP51326
Capella Vanuatu – PL1851