Half Year Report for the six months to 30 Sept 2022

RESPONSIBLE, ENVIRONMENTALLY SUSTAINABLE MINING
HALF YEARLY REPORT
to 30 September 2022
www.newtalisman.co.nz

NEW TALISMAN GOLD
HALF YEARLY REPORT 2022
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HALF YEARLY REPORT 2022NEW TALISMAN GOLD
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HALF YEAR REPORT TO THE SHAREHOLDERS OF NEW TALISMAN GOLD MINES LTD

HALF YEAR REPORT 2022

CHAIR’S REPORT
Dear Shareholders
New Talisman Reports for the half year to 30 September 2022, which was a period of preparation and planning, along with putting to
bed past unrest. Mine-site activity remained on hold throughout the period, however considerable work was undertaken on detailed
costings and planning for implementation of the strategic plan, which was announced in April 2022.
By way of reminder the strategic plan includes:
• Recommencing underground activities at the mine, including developing the required Second Egress.
• Advancing the Mystery Vein Drive.
• Advancing the Mystery Vein will likely trigger the existing 2 year Bulk Sampling Consent.
• Opening a second face on the Mystery vein once the Second Egress is complete.
• Funding the implementation of the Traffic Management Plan
• Funding the Resource Consent application for Full Mining Consent
During the half year period we met with industry specialists in relevant disciplines to sequence and progress the phases required
to not only recommission the Talisman mine, but also establish a processing route for the ore produced from advancing the face
of Mystery vein. A number of mining methods are also being assessed, including production of a concentrate underground, which
has the potential to greatly reduce production costs and remove the need to transport ore large distances within the mine. This will
potentially minimise environmental impacts both above and below ground. The company has worked on design and installation
concepts to be tested against production volumes, gold recovery efficiency, and costs.
The company is also examining other innovative ideas to maximise the knowledge gained of the mine’s gold resource during the Bulk
Sampling phase.
We are pleased to have confirmed that our original costings and assumptions remain realistic.
In preparation for reopening the minesite in the first half 2023 we have commenced the review and update of our Health and Safety
Management systems and associated Mine Workplan.
We have implemented the administrative changes previously outlined in our release of 9th September 2022, with our financial
reporting now being provided inhouse. The half year reports were prepared by our internal team and were endorsed by our auditors
in their review.
We have also settled the claim by Matt Hill following the termination of the management services contract with Asia Pacific Capital.
The Board can now fully turn their minds to the work ahead without further distraction.
While our focus during the period has largely been on the Talisman Mine, our Vanuatu assets have attracted investment interest from
third parties. We have commenced discussion with them regarding development of the Exploration Permit and how we might realise
substantive value in that investment for our shareholders. An Exploration Workplan is currently being formulated.
In the last quarter of this year we have continued our firm focus on detailed costings and planning for implementation of the strategic
plan – with the goal being the cost-effective production of gold. We hope to be able to make further firm announcements on this
before the end of the year.
As we approach the end of 2022, I would like to thank all our shareholders for your continued support over the year.
Samantha Sharif
Chair, New Talisman Gold Mines Limited
Tenement Holdings
Talisman MMP 51326 100% New Talisman Gold Mines Ltd
Capella Vanuatu PL 1851

NEW TALISMAN GOLD
HALF YEARLY REPORT 2022
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BOARD OF DIRECTORS
Independent Non-executive Director and Chair
Samantha Sharif (LLB (Hons), LLM (Hons), Grad
Dip CSP, CMInstD)
Samantha Sharif is a Professional Director with extensive
leadership experience in infrastructure, resources, safety critical
industries, as well as investment and capital markets.
Ms Sharif is an experienced Board and Board Committee Chair,
and a Chartered Member of the Institute of Directors.
Samantha has experience as a CEO and has also practised as a
senior commercial lawyer, with post-graduate legal and finance
qualifications. Current governance roles include: SIL/MFL Mutual
Funds - Director, NZ Shareholders Association - Deputy Chair,
Motor Trades Association Group - Director, Chair of Audit &
Risk Committee, Chair of Investment Committee, Museum of
Transport & Technology (MOTAT) - Director, Dept of Corrections
Audit & Risk Committee - External Member
Ms Sharif was appointed to the Board on 1 November 2021.
Director
John Upperton
Mr Upperton has a background in both Commercial and
Residential Construction Project Management. Alongside these
projects, Mr Upperton has garnered considerable experience in
aspects of the RMA and District Planning requirements, including
successfully representing himself in Environment Court.
Mr Upperton has 16 years’ experience as Managing Director
of a Limited Company. He has served on and chaired several
community organisations over a 25 year period.
Mr Upperton has also previously held a senior management
role for one of NZ’s leading Manuka Honey producers, being
responsible for the negotiation and placement of bee hives
across the North Island involving more than 300 landowners.
Mr Upperton was appointed to the Board on 29 September 2021.
Independent Non-executive Director
Michael Stiassny (LLB, BCom, FCA, CFInstD)
Michael has over 40 years’ experience as a Chartered Accountant,
specialising in strategic advice, insolvency, and turnaround
activities.
Michael is currently Chair of Ngāti Whātua Ōrākei Whai Rawa
Limited and Tower Limited, and a director of a number of other
companies.
Michael is a Chartered Fellow of The Institute of Directors in
NZ (Inc) (CFInstD) and is also past President of the Institute of
Directors. He is a also a life member of RITANZ.
Mr Stiassny was appointed to the Board on 1 November 2021.

Independent Non-executive Director
A Victor Rabone (BE Civil Engineering)
Mr Rabone is a Geotechnical Engineer with over 20 years of
operational experience in all facets of mining gained in New
Zealand and internationally. He has specialised expertise in hard
rock underground mining.
Victor’s experience includes feasibility analysis, management
of operations, geotechnical stability analysis, ground support
design and installation, drill and blast tunnel development, rail
haulage system’s design and installation, mineral processing,
refining and environmental management.
Victor holds a number of certifications required to manage a hard
rock underground gold mining operation including Controlled
Substance License, Handlers Certificate for blasting, he holds an
A Grade Tunnel Manager certification and a Site Senior Executive
qualification.
Victor has in recent years been dedicated fulltime to the planning
and development of the Broken Hills Gold Mine in the Puketui
valley, Coromandel Peninsula .
Victor is a member of a number of professional organisations;
Engineering NZ, NZ Geomechanics Society, NZ Tunnelling
Society, the International Society for Rock Mechanics and Rock
Engineering and the Railway Technical Society of Australasia.
Victor has had experience in the project management of a variety
of construction activities such as installation of screw piles,
seismic reinforcement using stone columns, geotechnical drilling
programmes, alluvial mining operations and underground mining
and tunnelling projects.
Mr Rabone was appointed to the Board on 13 September 2021.

HALF YEARLY REPORT 2022NEW TALISMAN GOLD
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AUDITOR’S REPORT

NEW TALISMAN GOLD
HALF YEARLY REPORT 2022
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HALF YEARLY REPORT 2022NEW TALISMAN GOLD
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NEW TALISMAN GOLD
HALF YEARLY REPORT 2022
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NEW TALISMAN GOLD MINES LIMITED
Consolidated Statement of Financial Position
As at 30 September 2022

Note
30-Sep-22
$NZ
Unaudited
31-Mar-22
$NZ
Audited
30-Sep-21
$NZ
Unaudited
Equity
Attributable to parent company shareholders9,597,85310,262,35915,244,250
Term liabilities
Long term lease liabilities
Convertible Debt Security
Provision for closure and rehabilitation
8
10
2,593
1,000,000
34,438
17,924
-
34,438
28,775
-
33,794
Total term liabilities1,037,03152,36262,569
Current liabilities
Payables & Accruals305,958200,436150,347
Short term lease liabilities830,28529,54024,751
Total current liabilities336,243229,976175,098
Total liabilities1,373,274282,338237,667
Total equity and liabilities10,971,12710,544,697 15,481,917
Current assets
Cash966,880492,507955,853
Inventories4314,275314,275314,275
Receivables and prepayments79,15192,379205,405
Total current assets1,360,306899,1611,475,533
Non-current assets
Property, plant & equipment148,425163,097178,632
Assets under construction99,055,5469,029,76313,625,922
Right of use assets831,51346,05752,438
Intangible assets6330,865330,865119,329
Investments744,47275,75430,063
Total non-current assets9,610,8219,645,53614,006,384
Total assets10,971,12710,544,69715,481,917
Net tangible assets per security0.29 cents0.31 cents0.48 cents
For and on behalf of the Board:


J K Upperton Samantha Sharif
Dated: 06 December 2022 Dated: 06 December 2022
This statement is to be read in conjunction with the accompanying notes and the previous year’s annual financial statements.

HALF YEARLY REPORT 2022NEW TALISMAN GOLD
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NEW TALISMAN GOLD MINES LIMITED
Consolidated Statement of Comprehensive Income
For six months ended 30 September 2022
Note
6 Months
30-Sep-22
$NZ
Unaudited
6 Months
30-Sep-21
$NZ
Unaudited
Continuing Operations
Revenue--
Cost of sales of goods4--
Gross Profit--
Interest received394232
Gain/(Loss) on share revaluation(32,932)8,706
Operating and administrative expenses
Contractor Claim Settlement incl Associated Legals
451,055
169,987
543,267
-
Loss from operations (653,580)(543,267)
Loss before tax for the period(653,580)(543,267)
Interest expense
Income tax expense
(10,926)
-
(3,100)
-
Total comprehensive income/(loss) (664,506)(537,429)
Net loss attributable to equity holders of the parent(664,506)(537,429)
Comprehensive loss attributable to equity holders of the parent(664,506)(537,429)
(664,506)(537,429)
Earnings per share
Basic earnings/(loss) per share from continuing operations
Comprehensive earnings/(loss) per share from continuing operations(0.021) cents(0.017) cents
NEW TALISMAN GOLD MINES LIMITED
Consolidated Statement of Changes in Equity
For six months ended 30 September 2022
Note6 months
30-Sep-22
$NZ
Unaudited
6 months
30-Sep-21
$NZ
Unaudited
Total comprehensive income/(loss)(664,506)(537,429)
Prior Year Adjustment-(314,275)
Proceeds from share capital issued5-647,774
Equity at beginning of period10,262,35915,448,180
Equity at end of period9,597,85315,244,250
This statement is to be read in conjunction with the accompanying notes and the previous year’s annual financial statements.

NEW TALISMAN GOLD
HALF YEARLY REPORT 2022
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NEW TALISMAN GOLD MINES LIMITED
Consolidated Statement of Cash Flows
For six months ended 30 September 2022

Note
6 months
30-Sep-22
$NZ
Unaudited
6 months
30-Sep-21
$NZ
Unaudited
Cash flows from operating activities
Cash inflows394232
Cash outflows(498,856)(502,367)
Net cash outflows from operating activities11(498,462)(502,135)
Cash flows from investing activities
Cash inflows--
Cash outflows(25,783)(298,585)
Net cash (outflows)/inflows from investing activities(25,783)(298,585)
Cash flows from financing activities
Cash inflows1,000,000647,774
Cash outflows-(10,341)
Net cash inflows from financing activities1,000,000637,433
Net increases / (decrease) in cash and cash equivalents held475,755(163,287)
Effect of changes in exchange rates(1,382)8,445
Cash and cash equivalents at beginning of period492,5071,110,695
Cash and cash equivalents at end of period966,880955,853
CASH COMPRISES:
Cash at bank111,880850,853
Short term deposits855,000105,000
966,880955,853
This statement is to be read in conjunction with the accompanying notes and the previous year’s annual financial statements.

HALF YEARLY REPORT 2022NEW TALISMAN GOLD
NEW TALISMAN GOLD MINES LIMITED
Notes to the interim financial statements
1. GENERAL
New Talisman Gold Mines Limited is a profit-oriented company incorporated and domiciled in New Zealand, registered under the
Companies Act 1993 and listed on the New Zealand Stock Exchange (NZX) and the Australian Stock Exchange (ASX).
The company is an FMC reporting entity for the purposes of the Financial Markets Conduct Act 2013 and the financial statements of the
group have been prepared in accordance with the Financial Markets Conduct Act 2013 and comply with NZX Listing Rule 10.6.1. The
group consists of New Talisman Gold Mines Limited (the “company”) and its subsidiaries (“Group”) and these financial statements are the
consolidated financial statements of the Group. The Group is engaged in mine development and mineral exploration.
These financial statements were approved for issue by the Directors on 06 December 2022.
Statement of compliance
These interim consolidated financial statements presented are for New Talisman Gold Mines Limited and its wholly-owned subsidiaries,
Coromandel Gold Limited, Critical Mineral Resources Limited and Rahu Resources Pty Limited (“Group”). The information is presented
in New Zealand currency which is the company’s functional currency. The interim financial statements are condensed in accordance with
NZ IAS-34, Interim Financial Reporting. These consolidated financial statements have not been audited. The comparative information
for the year ended 31 March 2022 has been audited. The comparative information for the six-month period ended 30 September 2021
has not been audited.
2. ACCOUNTING POLICIES
The accounting policies and methods of computation adopted in the preparation of these financial statements are the same as those
adopted in the preparation of the annual financial statements for the year ended 31 March 2022. Those policies are set out in the annual
report for the year ended 31 March 2022. There have been no changes to those accounting policies.
3. SEASONALITY OF OPERATIONS
The results are unaffected to any significant extent by seasonality factors.
4. INVENTORIES
Cost of sales of goods6 months
30-Sep-22
$NZ
6 months
30-Sep-21
$NZ
Opening inventories314,275314,275
Prior Period Adjustment-
Current year mining exploration costs released (refer to note 10)--
Less closing inventories(314,275)(314,275)
Total cost of sales of goods--
The cost of inventories is an accumulation of costs in relation to ore drilled but not yet processed.
5. SHARE CAPITAL
Share Capital Movement6 months
30-Sep-22
$NZ
6 months
30-Sep-21
$NZ
Share Capital Opening balance39,264,14538,216,371
Proceeds from Rights issues-1,047,774
Cancellation from Rights issued -(400,000)
Balance at end of period39,264,14539,264,145
At balance date 3,198,072,105 Ordinary shares were on issue.
The Company previously had 17,036,384 listed options that expired unexercised on 30 September 2022.

NEW TALISMAN GOLD
HALF YEARLY REPORT 2022
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6. INTANGIBLE ASSETS
Prospecting costs & mining tenements6 months
30-Sep-22
$NZ
Year ended
31 Mar 22
$NZ
6 months
30-Sep-21
$NZ
Opening balance
11,63711,63711,637
Development expenditure---
Impairment of Prospecting Costs---
Balance at end of period11,63711,63711,637
Goodwill
6 months
30-Sep-22
$NZ
Year ended
31 Mar 22
$NZ
6 months
30-Sep-21
$NZ
Opening balance319,228--
Additions-319,228107,692
Amortisation Charge---
Impairment of Goodwill---
Balance at end of period319,228319,228107,692
Total Intangible Assets330,865330,865119,329
The goodwill has arisen from the acquiring of a business combination associated with the acquisition of the shares in Capella Vanuatu
Limited which was completed in December 2021. Management has assessed the above costs and believed that these costs are
representative of its fair value and thus, no amortisation of goodwill has been recorded.
7. INVESTMENTS
6 months
Sep 2022
$NZ$
Unaudited
Year Ended
31 Mar 22
$NZ
Audited
6 months
Sep 2021
$NZ$
Unaudited
Investment in listed companies – at fair value44,47275,75430,063
Total share investments44,47275,75430,063
Investment in listed companies are recorded at market value using price and exchange rates as at 30 September 2022.
8. RIGHT OF USE ASSETS
The company has recognised a right of use asset for the lease of the premises situated at 547 Parnell Road, Auckland which is for a three
year period commencing on 6 October 2020.
Movements in right of use assets are summarised below:
Right of Use Assets6 months
30-Sep-22
$NZ
Year ended
31-Mar-22
$NZ
6 months
30-Sep-21
$NZ
Opening balance46,05764,53964,539
Additions-8,164-
Depreciation charge(14,545)(26,646)(12,101)
Balance at end of period31,51246,05752,438

HALF YEARLY REPORT 2022NEW TALISMAN GOLD
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A lease commitment has been recognised on the above right of use asset. Movements in the lease liability are summarised below:
Lease Liability6 months
30-Sep-22
$NZ
Year ended
31-Mar-22
$NZ
6 months
30-Sep-21
$NZ
Opening balance47,46465,44665,446
Leases entered into during the year-8,164-
Interest expense1,0352,9071,513
Principal and Interest repayments(15,621)(29,053)(13,433)
Balance at end of period32,87847,46453,526
Short term lease liabilities30,28529,54024,751
Long term lease liabilities2,59317,92428,775
32,87847,46453,526
9. MINING TENEMENTS
Talisman Mine Development6 months
30-Sep-22
$NZ
Year ended
31-Mar-22
$NZ
6 months
30-Sep-21
$NZ
Opening balance9,029,76313,385,41313,385,413
Development expenditure25,783294,447240,509
Impairment of mine development-(4,650,097)-
Balance at end of period9,055,5469,029,76313,625,922
Development expenditure consists of mining development costs, professional salaries, data acquisitions and a small portion of overhead
expenses relating to the operation of the mine. Management assesses the allocation of directly attributable overheads at the end of
each reporting date. Management also assesses the carrying value of development expenditure to ensure it represents the fair value of
the mine development asset. An independent Technical Valuation of the Talisman Gold Project was provided by Geos Mining Minerals
Consultants as at 30 September 2021. They concluded that a preferred valuation of the Project was NZ $15.6 million. This valuation
exceeds the carrying amount of Assets under construction as at 30 September 2022 of $9,055,546. The Directors have reviewed the
various components that impact the value of the Mining Assets and have determined that no change be made to the impairment
provision for Assets under construction at this time.
10. CONVERTIBLE DEBT SECURITY
The Company issued a Convertible Debt Security with a principal value of NZ$1,000,000 on 24 August 2022. The Convertible Debt
Security has the following terms:
• Term, 18 months from drawdown,
• Drawdown of the Convertible Debt Security will be in one tranche,
• Annual Interest rate of 9.5%, payable quarterly in cash, there is no option to settle interest by any other means.
• Conversion to ordinary shares at the 18 month anniversary of drawdown at a 15% discount to the preceding 20 day VWAP of the
ordinary shares of the Company, or at the discretion of the Company repaid in cash on the 18 month anniversary of drawdown, with
no additional fees. In either case the principal amount to be repaid will be NZ$1,000,000.
• The Convertible Debt Security will be unsecured and rank pari-passu with unsecured trade creditors.
The issue of the Convertible Debt Security was approved by shareholders at a special meeting held on 22 June 2022.
As the Company has the discretion of repaying the Convertible Debt Security in cash on the 18 month anniversary of the drawdown, the
Convertible Debt Security has been fully recognised in these financial reports as Debt.

NEW TALISMAN GOLD
HALF YEARLY REPORT 2022
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11. RECONCILIATION OF NET LOSS AND OPERATING CASH FLOW
6 months
Sep 2022
$NZ
Unaudited
6 months
Sep 2021
$NZ
Unaudited
Net loss after taxation
(664,506)(537,429)
Add non-cash items:
Depreciation
29,21627,346
Exchange (gain)/loss
1,382(8,445)
Impairment of Prospecting Costs
--
Write off of Debtor
7,395-
Loss on disposal of investments (refer to note 8)
-12,367
Loss / (Gain) on revaluation of shares
31,282(8,706)
61,88022,561
Add (less) movement in working capital:
Decrease (increase) in debtors
-(5,673)
Increase (decrease) in creditors
90,93717,770
Decrease (increase) in inventories
--
Decrease (increase) in accrued income
--
Decrease (increase) in Prepayments
9,87224,390
Decrease (increase) in Income Tax
558-
Decrease (increase) in GST
(4,598)(23,755)
104,16412,732
Net cash outflows from operating activities
(498,462)(502,135)
12. EXPENSES
A percentage of certain expenses including wages, consulting fees and other operational expenditure are capitalised to exploration
tenements and assets under construction based on a calculation prepared by management which is reviewed at each reporting date.
13. COMMITMENTS
Capital commitments at the end of the period were $nil.
14. GOING CONCERN
The financial report has been prepared on a going concern basis. The directors have declared that financial obligations can continue to
be met as and when they fall due.
15. EVENTS SUBSEQUENT TO BALANCE DATE
On 7 October 2022 the Company announced that the claim by Mr M Hill had been resolved and was to be settled by way of payment of
$145,000 excl gst in full and final settlement. These financial statements reflect an accrual for that settlement along with the write off of
a bad debt in relation to that settlement of $7,395 and the write off of a creditor of $30,000 excl gst. The legal costs associated with this
claim were $47,592. The net effect of this transaction inclusive of associated legal costs is $169,987 and is reflected in the statement of
operations.
No other material events occurred after balance date.
16. RELATED PARTY TRANSACTIONS
Payments for consulting services to companies in which directors and major shareholders have a substantial interest amounted to
NZ$17,018 and is broken down as follows:
DirectorAmount Paid
John Upperton$7,418
Victor Rabone
$9,600
Director fees of $5,047 were payable at the end of the reporting period. Related party receivables at balance date were $nil.
As mentioned in note 15 an amount of $7,395 of related party debts was written off during the reporting period as part of the settlement
with Mr M Hill.

www.newtalisman.co.nz
COMPANY DIRECTORY
DIRECTORS
Samantha Sharif (Chair and Independent Director)
John Upperton (Director)
Michael Stiassny (Independent Director)
Victor Rabone (Director)
COMPANY SECRETARY
S Jane Bell
REGISTERED (HEAD) OFFICE
2b Gibraltar Cres, Parnelll
Auckland, New Zealand
Telephone (+64 9) 303-1893
Email: info@newtalisman.co.nz
Website: www.newtalisman.co.nz
PRINCIPAL OFFICE IN AUSTRALIA
1st Floor, 25 Richardson Street
West Perth
Western Australia 6005
Telephone (+61 8) 9481-2040
Facsimile (+61 8) 9481-2041
BANKERS
Westpac Bank, Auckland
National Australia Bank, West Perth
AUDITORS
Scott Bennison
c/- K S Black & Co
Level 5
350 Kent Street,
Sydney, 2000
SOLICITORS
Chapman Tripp, Auckland
Williams & Hughes, Perth
SECURITIES LISTED
New Zealand Stock Exchange
Code: Shares NTL; Options NTLOB
Australian Securities Exchange
Code: Shares NTL, Options NTLOB
SHARE REGISTRARS
New Zealand:
Computershare Investor Services Limited
Private Bag 92119
Auckland 1142
159 Hurstmere Road
Takapuna, Auckland 0622.
New Zealand
Telephone (+64 9) 488 8777
Facsimile (+64 9) 488 8787
Australia:
Computershare Investor Services Pty Limited
Yarra Falls
452 Johnston Street
Abbotsford Victoria 3067, Australia
Telephone 1300 850 505
Overseas callers (+61 3) 9415 4000
Managing your shareholding online:
To change your address, update your payment
instructions and view your investment portfolio
including transactions please visit
www.computershare.co.nz/investorcentre
General enquiries can be directed to:
enquiry@computershare.co.nz
Please assist our registrar by quoting your CSN or
shareholder number