Market Update

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21 December 2022
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED
(ASX, NZX: NTL)
FOR IMMEDIATE RELEASE
Significant progress with Talisman and Vanuatu Assets,
capital raise via a rights issue planned for January 2023
New Talisman is pleased to advise of significant progress towards the implementation of our
strategic plan for the development of Talisman, as well as developments with our Vanuatu
assets.
A capital raise to finalise our return to mining and gold production is planned for January 2023.
Talisman
• NTL has today formally engaged Terra Firma to prepare the specific plans to be
submitted to Worksafe for recommencement of operations at Talisman Mine. This is
a key milestone to be completed prior to our return to mining. Terra Firma has
significant knowledge of Talisman mine and has experience in developing
underground gold mines in New Zealand.
• Terra Firma and other industry specialists have also worked with NTL on the
development and review of the Strategic Plan for Talisman, mining methodologies and
budget. This plan aims to produce gold and generate revenues in the second half of
2023, with positive cashflow by late 2023.
• The Schedule of Works includes formation of a Second Egress in conjunction with a
Bulk Sampling programme, adding valuable knowledge of the mines mineral resource.
• Innovative and feasible mining methods have been identified to classify ore
underground, thus minimising the quantity of material to be removed from the mine,
thereby improving our environmental footprint and cost-efficiencies.
• Our goal is to produce a concentrate which can be refined to produce gold and silver.
NTL may process this concentrate ourselves, or on sell it to third party refiners. This
approach solves the problem of the lack of a viable processing route that has been
one of the longstanding barriers for NTL to progress Talisman. The need to truck ore
over large distances and through conservation land was a significant problem which
the company believes it has potentially solved.
• The JORC table for Talisman and accompanying Competent Person’s Report can be
found here
https://www.newtalismangoldmines.co.nz/projects/talisman-project/geology/

2b Gibraltar Cres, Parnell, Auckland 1052
Office +64 9 303 1893
Fax +64 9 303 1612
info@newtalisman.co.nz

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Vanuatu
• An Exploration Plan and high-level budget for the Santo Exploration Permit has been
provided to experienced industry investors who have approached NTL with a view to
working together.
• The geology of the Santo area has similarities to the historically gold rich
Coromandel/Waihi goldfields and represents a significant opportunity for added value
as more is learnt about the mineral potential of the licence area.
Capital Raise via a Rights Issue
• In order to progress Talisman towards the profitable production of gold NTL will need
to complete its capital raise plans as initially signalled to market in April this year.
• The Board has reviewed the Capital Raising methods open to it and determined that a
Rights Issue will be the fairest to all shareholders.
• Shareholding Directors intend to participate in the issue.
• We expect to open the rights issue in mid January with full details of the terms will be
confirmed then.









Ms S Sharif
Chair
New Talisman Gold Mines Limited
Ph: 09 303 1893












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