Rights Offer

Page | 1

______________________________________________________
13
th
February 2023
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED
(NZX: NTL, ASX: NTL)
FOR IMMEDIATE RELEASE
Rights Issue – Offer Document
Further to the announcement made on 10 February 2023, New Talisman Gold Mines Limited (NZX:
NTL, ASX: NTL) is pleased to release the offer document for its upcoming rights offer to NTL
shareholders in New Zealand and Australia, opening on Tuesday 21 February 2023. The offer of new
shares is made under NZX Listing Rule 4.3.1(a) and ASX Listing Rule 7.2, exception 1.
NTL Chair, Samantha Sharif said: “Over the last 12 months the new Board of New Talisman has been
fully focussed on delivering results for our loyal shareholders – our goal, supported by a specific and
realistic plan, is to produce gold and be generating returns for shareholders by the end of this year.
We seek your support to raise up to $3.45m of funds needed to bring Talisman into production and
finally realise the potential value of this company for shareholders. If we cannot complete this capital
raise, the Board’s view is that there are very few options left for the company.
This Rights Offer is structured to provide all eligible NTL Shareholders with a fair opportunity to
participate, and the opportunity to buy additional shares at a discount relative to the prevailing share
price. I will participate in the Offer, as will my fellow Directors with NTL Shares.
Full details of the Rights Offer are contained in the attached Rights Offer Document and we will be
providing regular updates to Shareholders on our progress.”
Important indicative dates for the Offer are:
‘Ex’ Date 17 February 2023
Record Date for determining entitlements 7pm (NZDT) and 5pm (AEST) Monday
20 February 2023
Opening Date Tuesday 21
st
February 2023
Expected dispatch of Entitlement Letters Tuesday 21 February 2023 (NZ),
Tuesday 21 February 2023 (AUS)
Closing Date (last day for receipt of the
completed applications and payment)
7pm (NZ time) and 5pm (AEST), Friday 10
th
March 2023 (unless extended)
Final allotment and issue of New Shares and
dispatch of holding statements
Thursday 16 March 2023
Expected Quotation Date Thursday 16 March 2023
These dates are subject to change and are indicative only. New Talisman reserves the right to amend
this timetable, subject to the ASX and NZX Listing Rules and all applicable laws, including by extending
the Closing Date.



Ms Jane Bell
Company Secretary
New Talisman Gold Mines Limited
Direct +64 21 764 224
jane@newtalisman.co.nz
2b Gibraltar Cres,
Parnell, Auckland 1052
Office +64 9303 1893
info@newtalisman.co.nz

---

3 for 5 Rights Offer of ordinary shares
OFFER DOCUMENT
17 FEBRUARY 2023
www.newtalisman.co.nz

2 | NEW TALISMAN GOLD MINES LIMITED
OFFER DOCUMENT
CONTENTS
Key terms of the Rights Offer Page 3
Key Dates of the Rights Offer Page 3
How to participate Page 3
Chairman’s letter Page 4
Business Update Page 6
Frequently Asked Questions Page 10
Terms and Conditions Page 12
Glossary Page 15
Directory Page 16
IMPORTANT INFORMATION
General Information
This document has been prepared by New Talisman Gold Mines
Limited (the “Company” or “New Talisman”) in connection with
a 3 for 5 rights offer. The offer is made to Eligible Shareholders
under the exclusion in clause 19 of Schedule 1 of the Financial
Markets Conduct Act 2013 (New Zealand) and section 708AA of
the Corporations Act 2001 (Cth). This document is not a product
disclosure statement or prospectus and does not contain all of the
information which may be required in order to make an informed
investment decision or about the Offer or New Talisman.
Additional information available under
continuous disclosure obligations
New Talisman is subject to continuous disclosure obligations
under the NZX Listing Rules and the ASX Listing Rules. Market
releases by New Talisman, including its most recent financial
statements, are available at www.nzx.com and www.asx.com.au
under stock code NTL.
Offering restrictions
The Offer is made only in New Zealand and Australia. No action
has been taken to permit a public offering of the Shares in any
jurisdiction outside New Zealand and Australia. The distribution
of this document in a jurisdiction outside New Zealand and
Australia may be restricted by law and persons who come into
possession of it (including nominees, trustees or custodians)
should seek advice on and observe any such restrictions.
No person may subscribe for, purchase, offer, sell, distribute
or deliver the Shares, or be in possession of, or distribute to
any other person, any offering material or any documents in
connection with the Shares, in any jurisdiction other than in
compliance with all applicable laws and regulations. Without
limiting the foregoing, this document may not be sent into or
distributed in the United States.
No Guarantee
No person named in this document nor any other person)
guarantees the Shares to be issued pursuant to the Offer or
warrants the future performance of New Talisman or any return
on any investment made pursuant to this document.
Forward Looking Statements
This document contains certain statements that relate to the
future. Such forward looking statements are not a guarantee
of future performance and involve known and unknown risks,
uncertainties, assumptions and other factors, many of which are
beyond the control of New Talisman and which may cause the
actual results, performance or achievements of New Talisman
to differ materially from those expressed or implied by such
statements. Under no circumstances should you regard the
inclusion of forward looking statements as a representation or
warranty by New Talisman or its directors or officers or any other
person with respect to the achievement of the results set out in
any such statement, or that underlying assumptions used will in
fact be realized.
Decision to participate in the Offer
The information in this document does not constitute a
recommendation to acquire Shares or financial product advice.
This document has been prepared without taking into account
the investment objectives, financial, or taxation situation or
particular needs of any Applicant or investor.
Privacy
Any personal information provided by Eligible Shareholders
as part of an application under the Offer will be held by New
Talisman and/or the Registry at the addresses set out in the
Directory. This information will be used for the purposes of
administering your investment in New Talisman. This information
will only be disclosed to third parties with your consent or if
otherwise required by law. Under the Privacy Act 2020 (New
Zealand), you have the right to access and correct any personal
information held about you.
Dividend Policy
New Talisman currently has a policy of not paying dividends. The
Directors will consider the potential to pay dividends but are
unable to predict when any dividend may be paid in the future.
This will depend on a number of factors including the future
success, profitability and financial position of New Talisman.
Enquiries
Enquiries about the Offer can be directed to a NZX Primary Market
Participant, or your solicitor, accountant or other professional
adviser. If you have any questions about the number of Shares
shown on the Entitlement Notification sent to you, or how to
complete the online application, please contact the Registry.
Times
All references in this document to time is to New Zealand time.
Defined terms
Capitalised terms used in this document have the specific
meaning given to them in the Glossary at the back of this Offer
booklet or in the relevant section of this Offer booklet.

OFFER DOCUMENT
NEW TALISMAN GOLD MINES LIMITED | 3
KEY TERMS OF THE RIGHTS OFFER
IssuerNew Talisman Gold Mines Limited
The OfferA pro-rata rights issue of 3 New Shares for every 5 Shares held on the Record
Date (with fractional entitlements being rounded up to the nearest share),
Eligible ShareholderShareholders with registered addresses in New Zealand or Australia on the
Record Date
Issue priceNZ$0.018 or AU$0.017 per New Share
Offer SizeMaximum amount to be raised under the Offer: NZ$3.45 million.
OversubscriptionsIf you accept your entitlement in full, you may apply for any number of Additional
New Shares pursuant to the Oversubscription Facility
New SharesThe same class as (and rank equally with) existing Shares on the Allotment Date
Shares currently on issue
1
319,807,249 Shares
Maximum number of New Shares
being offered
191,884,349 New Shares
Maximum Shares on issue on
completion of the Offer
511,691,598 Shares
How to apply
Applications must be made online at www.shareoffer.co.nz/ntl together with
direct credit payment in either New Zealand dollars or Australian dollars (as
applicable).
KEY DATES*
Ex DateFriday 17 February 2023
Record Date for determining Entitlements
7.00pm (NZDT), Monday 20 February 2023
Opening DateTuesday 21 February 2023
Expected despatch of Entitlement notificationsTuesday 21 February 2023 (NZ),
Tuesday 21 February 2023 (AUS)
Closing Date (last day for receipt of applications with payment)7.00pm (NZDT), Friday 10 March 2023
Allotment and issue of New Shares and expected date of
quotation of New Shares
Thursday 16 March 2023
Date for despatch of statementsMonday 20 March 2023
* These dates are subject to change and are indicative only. New Talisman reserves the right to amend this timetable (including by
extending the Closing Date) subject to applicable laws and the Listing Rules. New Talisman reserves the right to withdraw the Offer
and issue of New Shares at any time before the Allotment Date in its absolute discretion.
HOW TO PARTICIPATE
If you are an Eligible Shareholder, you will be sent an email or letter inviting you to subscribe for New Shares under the Offer via the
Offer website www.shareoffer.co.nz/ntl. You may take one of the following actions in respect of your Rights:
• accept all or part of your Rights;
• if you accept all of your Rights, apply for Oversubscriptions
• seek to sell privately to another shareholder or other investor some or all Rights (the Rights will not be quoted by NZX or ASX); or
• do nothing, in which case your economic and voting rights will be diluted.
IMPORTANT: If you do nothing with your Rights before the Closing Date, they will lapse and you will not be able to subscribe for
any New Shares under the Rights Offer.
The Rights will not be quoted on the NZX Main Board or ASX and accordingly there will not be an established market for Rights.
Eligible Shareholders who wish to accept all or part of their Rights should apply online at www.shareoffer.co.nz/ntl (together with
paying the Application Monies) no later than the Closing Date in accordance with the instructions set out in this document and on
that website.
Please refer to the Terms and Conditions, which follow, for more information about the Offer.
1
On 9 February 2023, the Company underwent a share consolidation pursuant to which shareholders received one ordinary
share for every 10 ordinary shares held at 7.00pm (NZDT) on 8 February 2023 (subject to rounding).

4 | NEW TALISMAN GOLD MINES LIMITED
OFFER DOCUMENT
CHAIR’S LETTER
New Talisman Gold Mines Ltd
2b Gibraltar Cres
Parnell, Auckland 1052
Office +64 9303 1893
info@newtalisman.co.nz
17 February 2023
3 FOR 5 PRO-RATA RIGHTS OFFER OF NEW SHARES
Dear Shareholder,
Over the last 12 months the new Board of New Talisman has been fully focussed on delivering results for our loyal shareholders. Our
goals over the last year have been to:
• stabilise the company – achieved
• reduce overheads and improve efficiencies – achieved
• Talisman mine – producing gold in 2023 – on track.
In order to produce gold at Talisman we estimated that we will need approximately NZ$3.45 million dollars of capital to fund the
development of Talisman and get to gold production. We have raised one million dollars of the funds needed by way of Convertible
Note in April 2022. We now seek your support to raise additional funds to seek to bring Talisman into production and finally realise
the potential value of this company for shareholders.
We recognise that NTL has made numerous calls for capital over many years. However, your new Board has a very specific
and realistic plan to develop Talisman with the goal to be generating profit and returns for shareholders by the end of 2023.
If we cannot complete this capital raise, the Board’s view is that there are very few options left for the company.
The Board has reviewed the Capital Raising methods open to it and determined that a Rights Issue, with an oversubscription facility,
will be the fairest to all shareholders.
Those Directors with shareholdings intend to participate in the rights issue. NTL has also received indications from its two largest
shareholders that they intend to participate in the issue. However, no assurances can be given on the total amount that will be raised
from the issue or from any particular shareholder.
Full details of the offer are described below, with more information in the Frequently Asked Questions on pages 10-11 of this
document.
The development plan for Talisman is focused on:
• Recommencing underground activities at Talisman mine
• Advancing the Mystery Vein drive which has random chip sampled at promising levels of a weighted average 39.35g/t Au
and 34.75g/t Ag, as previously announced on 8 May 2018 which can be found on the following link: https://www.asx.com.au/
asxpdf/20180508/pdf/43tvlpmv420f4f.pdf
• Opening a second face on the Mystery vein, increasing production volumes, which will also provide the required Second egress (exit).
• Production of gold/silver concentrate to produce bullion.
On behalf of New Talisman Gold Mines Limited, I present to you a 3 for 5 pro-rata rights issue, for your consideration.
The Company is offering New Shares at an Issue Price of NZ$0.018 or AU$0.017 per New Share, on the basis of 3 New Shares for
every 5 Existing Shares held as at the Record Date (20 February 2023).
All Eligible Shareholders are entitled to participate in this Offer. If you accept your Entitlement in full, you can also apply for
Additional New Shares (i.e. Shares in excess of your pro rata Entitlement) through the Oversubscription Facility. If you do not wish
to take up your Entitlement under the Offer, you will not be entitled to sell your Rights on market.
The structure and pricing of this Offer allows all Eligible Shareholders an opportunity to participate directly in the development of the
Talisman mine and to finally be part of the future success and profitability of NTL. The FAQs on pages 10-11 will hopefully address
questions you might have about why you should consider this investment.
Please note that applications to participate in the Offer can only be made online at www.shareoffer.co.nz/ntl. Only shareholders on
the register at the Record Date with an address in New Zealand or Australia can participate in the Offer.
If you are keen to know more about NTL and the offer, please contact NTL’s Company Secretary Ms Jane Bell jane@newtalisman.co.nz
I will participate in the Offer and encourage you to join me in finally realising the potential of the Company.
Yours sincerely,
Samantha Sharif
Chair
New Talisman Gold Mines Limited

OFFER DOCUMENT
NEW TALISMAN GOLD MINES LIMITED | 5
5

6 | NEW TALISMAN GOLD MINES LIMITED
OFFER DOCUMENT
BUSINESS UPDATE
The Board is focused on running a lean and cost-efficient business.
We have:
• Brought external support services in house by expanding the existing Company Secretary role to incorporate the CFO role and
responsibilities – enabling us to provide our financial reporting in-house and leveraging existing resources.
• Actively sought an early release from the lease of the company office in Parnell – and negotiations with a potential new tenant
continues.
• Redeployed Board Member John Upperton as our Strategy Delivery Manager.
• We continue to review all contractual arrangements and will renegotiate or terminate those which are not adding value.
Talisman Mine
The new Board undertook a thorough review of the Company’s core asset, the historic Talisman Mine, and as a result, devised a new
Strategic Plan to advance the Mystery vein on dual faces, while at the same time creating the required second egress. Chip sampling
of Mystery has averaged above 32g of gold per tonne. The vein appears to run in north/south direction, approximately parallel to
the rich Maria lode which historically has yielded 3.5 million bullion ounces.
Advancing the face of Mystery vein northwards enables four aims of the Company.
• Generating cash by production of a high-grade gold and silver concentrate ready for the production of bullion
• Gaining knowledge of the vein system in an unexplored area
• Complying with second egress requirements.
• Opportunity to add to the Mineral Resource
Extensive discussions with mining industry experts has validated the decision to use innovative mining techniques to minimise the
volumes leaving the mine. We remain open to exploring all feasible methods for producing bullion.
The flow on effects of this brings multiple benefits
• Reduces the environmental footprint of production
• Greatly reduces the above surface activity in the mine vicinity
• Solves the longstanding problem of access to processing facilities
• Reduces production costs.
Talisman Mine - Overview
The Company holds a 25 year mining permit granted in 2009 covering 299 hectares, including the former Talisman and Crown-Welcome
mines. The permit lies between the towns of Waihi and Paeroa in the Hauraki Goldfield and includes mines with total historical
production (from the 1880s to 1992) of 1 million ounces gold and 3 million ounces silver.
The Talisman permit and the Karangahake Gold Project are located in the southern part of the Coromandel Volcanic Zone (CVZ), a
north- northwest trending zone of Miocene to early Quaternary sub-aerial calc-alkaline volcanics. The permit area covers part of the
Karangahake gold-silver deposit, one of the major deposits of the Hauraki Goldfield, a 200 km long metallogenic zone of epithermal
gold-silver and porphyry copper-gold mineralization that extends from Great Barrier Island in the north to as far south as Te Aroha
and Te Puke.
The main mineralised structures within the project are the Maria Vein, Mystery Vein and Welcome/Crown Vein. The footwall extension
of the Welcome Vein is located approximately 100m to the east and is called the Crown Vein.
Historically the Karangahake deposit was divided into separate mines focused on different gold bearing veins or lodes: the Crown
mine, and the Talisman Mine. The lodes are sub-parallel, trending north-northeast. Mining has followed the Welcome/Crown and
Maria veins along strike with the Welcome/Crown veins defining the eastern extent of the mine and the Maria vein defining the
western extent of the mine. The Mystery Vein (approx. 1m width) is located in between these two vein systems and was discovered in
the late 1980’s during the formation of the Keillor’s cross-cut, which connects the Maria vein to the Welcome/Crown vein. Historically,
mining has focused along 4 sub-vertical ore shoots along the Maria Vein (Woodstock, Talisman, Bonanza, and Dubbo).
The Mystery vein has never been mined and is one of the potential resource blocks on which we intend to focus for mining.
TENEMENTS HELD BY THE NEW TALISMAN GROUP OF COMPANIES
Current permits
Talisman Mine - Minerals Mining Permit 51326 (100% owned by the Company); and
Capella Vanuatu – Prospecting License 1851 (100% owned by CGL).

OFFER DOCUMENT
NEW TALISMAN GOLD MINES LIMITED | 7
Tar Sealed
Road
Gravel Road
Karangahake
Township
Talisman 8
Level Portal
Figure 1 - Aerial Photograph of the Talisman Mine
This photograph illustrates the location of the 8 Level Portal nestled within a narrow valley. The portal is connected to the tar sealed
Crown Hills Road via a gravel road winding through the forest park.

8 | NEW TALISMAN GOLD MINES LIMITED
OFFER DOCUMENT
TALISMAN MINE CURRENT RESOURCES
The table below excludes the Mineral Resource Estimate for the Crown/Welcome vein system, that were not reassessed during
2019 and were not included in the review by AMC but remain part of the total Talisman Mineral Resource. Resources attributable
to the Crown/Welcome system were estimated previously at 31,000 equivalent bullion ounces. This information was prepared and
first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the
information has not materially changed since it was last reported.
The more detailed information, including JORC Table 1, was released to the market on 24/06/2020. Please see the full report found
here.
Resource CategoryOre Zone/VeinTonnes
Grade g/t Bullion
equivalent
Ounces Bullion
equivalent
IndicatedTalisman Bonanza 29,0004.34,100
IndicatedDubbo 15,0009.04,400
IndicatedDubbo splay 4,30019.02,600
IndicatedWoodstock 35,0005.15,600
IndicatedWoodstock splay 22,0005.13,600
Total Indicated110,0006.020,000


InferredTalisman-Bonanza 300,00019.0190,000
InferredDubbo 150,00023.0110,000
InferredDubbo splay 56014.0250
InferredWoodstock 62,0005.611,000
InferredWoodstock splay 20,0004.72,900
InferredMystery 14,00025.011,000
Total Inferred
 
550,00019.0330,000
Total Resources
(* Crown excluded)
 
660,00017.0350,000
Note: Data sources include historic bullion samples, drill holes and underground channel samples
• Mineral Resources are reported on a 100% basis to a nominal 2.2 Bullion equivalent grams per tonne cut-off grade which was
determined in 2017 based on estimates of mining costs, metallurgical recoveries, treatment and refining costs, general and
administration costs, royalties, and commodity prices.
• Ounces are estimates of metal contained in the Mineral Resource and do not include allowances for processing losses.
• For reporting purposes, all resources are reported as equivalent bullion values, due to bullion values rather than gold and silver
grades being the only grade information that is available for historic channel samples. Conversion of more recent gold and silver
values to equivalent bullion values uses the formula: Equivalent bullion grade = Gold grade + (Silver grade * 0.031609), which
is based on historical prices of gold and silver. The equivalent bullion value of the resource is the same as an estimated gold
equivalent grade due to the manner in which the historic and modern bullion values have been determined. Bullion conversions
by NTL were based on a constant gold price of at £4-6s-0d/oz or USD20.47/oz during the period of historical production. Silver
prices ranged from USD 0.49 to USD 1.03/oz.
• Tonnage and grade measurements are in metric units. Gold ounces are reported as troy ounces. Rounding as required by
reporting guidelines may result in apparent summation differences between tonnes, grade and contained metal content.

OFFER DOCUMENT
NEW TALISMAN GOLD MINES LIMITED | 9
Schematic diagram of the Talisman Mine
Diagram shows a plan view of a portion of the Mining Permit
with vein systems and exploration targets overlain.
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(
(
(
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(
(
(
(
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(
(
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(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
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(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
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(
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(
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(
(
(
(
(
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(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
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(
(
(
(
(
(
(
(
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(
(
(
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(
(
(
(
(
(
(
(
(
(
(
(
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(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
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(
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(
(
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(
(
(
(
(
(
TM017
TM017
TM017
TM017
TM017
TM017
TM017
TM017
TM017
KP004
KP004
KP004
KP004
KP004
KP004
KP004
KP004
KP004
KP001
KP001
KP001
KP001
KP001
KP001
KP001
KP001
KP001
KP002B
KP002B
KP002B
KP002B
KP002B
KP002B
KP002B
KP002B
KP002B
KP002
KP002
KP002
KP002
KP002
KP002
KP002
KP002
KP002
KP003
KP003
KP003
KP003
KP003
KP003
KP003
KP003
KP003
TM006
TM006
TM006
TM006
TM006
TM006
TM006
TM006
TM006
TM004
TM004
TM004
TM004
TM004
TM004
TM004
TM004
TM004
TM005
TM005
TM005
TM005
TM005
TM005
TM005
TM005
TM005
TM002
TM002
TM002
TM002
TM002
TM002
TM002
TM002
TM002
TM003
TM003
TM003
TM003
TM003
TM003
TM003
TM003
TM003
TM007A
TM007A
TM007A
TM007A
TM007A
TM007A
TM007A
TM007A
TM007A
TM008
TM008
TM008
TM008
TM008
TM008
TM008
TM008
TM008
TM009
TM009
TM009
TM009
TM009
TM009
TM009
TM009
TM009
TM014
TM014
TM014
TM014
TM014
TM014
TM014
TM014
TM014
TM016
TM016
TM016
TM016
TM016
TM016
TM016
TM016
TM016
TM018
TM018
TM018
TM018
TM018
TM018
TM018
TM018
TM018
TM011
TM011
TM011
TM011
TM011
TM011
TM011
TM011
TM011
TM012
TM012
TM012
TM012
TM012
TM012
TM012
TM012
TM012
TM013
TM013
TM013
TM013
TM013
TM013
TM013
TM013
TM013
TM015
TM015
TM015
TM015
TM015
TM015
TM015
TM015
TM015
TM010
TM010
TM010
TM010
TM010
TM010
TM010
TM010
TM010
TM001
TM001
TM001
TM001
TM001
TM001
TM001
TM001
TM001
47
47
47
47
47
47
47
47
47
12.2
12.2
12.2
12.2
12.2
12.2
12.2
12.2
12.2
11.58
11.58
11.58
11.58
11.58
11.58
11.58
11.58
11.58
20
20
20
20
20
20
20
20
20
11.3
11.3
11.3
11.3
11.3
11.3
11.3
11.3
11.3
10.6
10.6
10.6
10.6
10.6
10.6
10.6
10.6
10.6
15.1
15.1
15.1
15.1
15.1
15.1
15.1
15.1
15.1
17.8
17.8
17.8
17.8
17.8
17.8
17.8
17.8
17.8
16.5
16.5
16.5
16.5
16.5
16.5
16.5
16.5
16.5
125
125
125
125
125
125
125
125
125
27
27
27
27
27
27
27
27
27
20.7
20.7
20.7
20.7
20.7
20.7
20.7
20.7
20.7
53
53
53
53
53
53
53
53
53
52
52
52
52
52
52
52
52
52
57.4
57.4
57.4
57.4
57.4
57.4
57.4
57.4
57.4
10.9
10.9
10.9
10.9
10.9
10.9
10.9
10.9
10.9
900
900
900
900
900
900
900
900
900
906
906
906
906
906
906
906
906
906
924
924
924
924
924
924
924
924
924
16.4
16.4
16.4
16.4
16.4
16.4
16.4
16.4
16.4
10.9
10.9
10.9
10.9
10.9
10.9
10.9
10.9
10.9
15.71
15.71
15.71
15.71
15.71
15.71
15.71
15.71
15.71
12.1
12.1
12.1
12.1
12.1
12.1
12.1
12.1
12.1
21.5
21.5
21.5
21.5
21.5
21.5
21.5
21.5
21.5
5.73
5.73
5.73
5.73
5.73
5.73
5.73
5.73
5.73
7.74
7.74
7.74
7.74
7.74
7.74
7.74
7.74
7.74
5.26
5.26
5.26
5.26
5.26
5.26
5.26
5.26
5.26
5.9
5.9
5.9
5.9
5.9
5.9
5.9
5.9
5.9
8.8
8.8
8.8
8.8
8.8
8.8
8.8
8.8
8.8
5.59
5.59
5.59
5.59
5.59
5.59
5.59
5.59
5.59
7.9
7.9
7.9
7.9
7.9
7.9
7.9
7.9
7.9
5.03
5.03
5.03
5.03
5.03
5.03
5.03
5.03
5.03
6
6
6
6
6
6
6
6
6
5.8
5.8
5.8
5.8
5.8
5.8
5.8
5.8
5.8
5.34
5.34
5.34
5.34
5.34
5.34
5.34
5.34
5.34
8.8
8.8
8.8
8.8
8.8
8.8
8.8
8.8
8.8
9
9
9
9
9
9
9
9
9
7
7
7
7
7
7
7
7
7
8
8
8
8
8
8
8
8
8
6.2
6.2
6.2
6.2
6.2
6.2
6.2
6.2
6.2
8.2
8.2
8.2
8.2
8.2
8.2
8.2
8.2
8.2
8.3
8.3
8.3
8.3
8.3
8.3
8.3
8.3
8.3
6.02
6.02
6.02
6.02
6.02
6.02
6.02
6.02
6.02
7.49
7.49
7.49
7.49
7.49
7.49
7.49
7.49
7.49
5.9
5.9
5.9
5.9
5.9
5.9
5.9
5.9
5.9
8.6
8.6
8.6
8.6
8.6
8.6
8.6
8.6
8.6
5.47
5.47
5.47
5.47
5.47
5.47
5.47
5.47
5.47
5.91
5.91
5.91
5.91
5.91
5.91
5.91
5.91
5.91
5.88
5.88
5.88
5.88
5.88
5.88
5.88
5.88
5.88
78
.6
78.278.26
726
78.2
26.4
26.4
26.4
26.4
26.4
26.4
26.4
26.4
26.4
10.6
10.6
10.6
10.6
10.6
10.6
10.6
10.6
10.6
7.5
7.5
7.5
7.5
7.5
7.5
7.5
7.5
7.5
5.73
5.73
5.73
5.73
5.73
5.73
5.73
5.73
5.73
5.56
5.56
5.56
5.56
5.56
5.56
5.56
5.56
5.56

Level 8 Portal
Level 8 Portal
Level 8 Portal
Level 8 Portal
Level 8 Portal
Level 8 Portal
Level 8 Portal
Level 8 Portal
Level 8 Portal
Level 5A Exit
Level 5A Exit
Level 5A Exit
Level 5A Exit
Level 5A Exit
Level 5A Exit
Level 5A Exit
Level 5A Exit
Level 5A Exit
1st Crosscut
1st Crosscut
1st Crosscut
1st Crosscut
1st Crosscut
1st Crosscut
1st Crosscut
1st Crosscut
1st Crosscut
Level 8
Level 8
Level 8
Level 8
Level 8
Level 8
Level 8
Level 8
Level 8
Bypass
Bypass
Bypass
Bypass
Bypass
Bypass
Bypass
Bypass
Bypass
Main Winze
Main Winze
Main Winze
Main Winze
Main Winze
Main Winze
Main Winze
Main Winze
Main Winze
!
2nd Bypass
2nd Bypass
2nd Bypass
2nd Bypass
2nd Bypass
2nd Bypass
2nd Bypass
2nd Bypass
2nd Bypass
Level 8
Level 8
Level 8
Level 8
Level 8
Level 8
Level 8
Level 8
Level 8
Stope
Stope
Stope
Stope
Stope
Stope
Stope
Stope
Stope
Drive
Drive
Drive
Drive
Drive
Drive
Drive
Drive
Drive
Level 8 Extension
Level 8 Extension
Level 8 Extension
Level 8 Extension
Level 8 Extension
Level 8 Extension
Level 8 Extension
Level 8 Extension
Level 8 Extension
BM35 Crosscut
BM35 Crosscut
BM35 Crosscut
BM35 Crosscut
BM35 Crosscut
BM35 Crosscut
BM35 Crosscut
BM35 Crosscut
BM35 Crosscut
BM41 Crosscut
BM41 Crosscut
BM41 Crosscut
BM41 Crosscut
BM41 Crosscut
BM41 Crosscut
BM41 Crosscut
BM41 Crosscut
BM41 Crosscut
BM37 Crosscut
BM37 Crosscut
BM37 Crosscut
BM37 Crosscut
BM37 Crosscut
BM37 Crosscut
BM37 Crosscut
BM37 Crosscut
BM37 Crosscut
Keillors
Keillors
Keillors
Keillors
Keillors
Keillors
Keillors
Keillors
Keillors
Crosscut
Crosscut
Crosscut
Crosscut
Crosscut
Crosscut
Crosscut
Crosscut
Crosscut
Maria Vein
Maria Vein
Maria Vein
Maria Vein
Maria Vein
Maria Vein
Maria Vein
Maria Vein
Maria Vein
Level 5A
Level 5A
Level 5A
Level 5A
Level 5A
Level 5A
Level 5A
Level 5A
Level 5A
Crown/Welcome
Crown/Welcome
Crown/Welcome
Crown/Welcome
Crown/Welcome
Crown/Welcome
Crown/Welcome
Crown/Welcome
Crown/Welcome
Stope
Stope
Stope
Stope
Stope
Stope
Stope
Stope
Stope
Mystery
Mystery
Mystery
Mystery
Mystery
Mystery
Mystery
Mystery
Mystery
Vein
Vein
Vein
Vein
Vein
Vein
Vein
Vein
Vein
050100
metres
2.85m@15.38g/t
incl 0.55m@44.3g/t
0.6m@3.2g/t
8.6m@1.46g/t
4.65m@1.64g/t
3.2m@3.21g/t
13m@0.14g/t
1.75m@2.53g/t
1m@3.94g/t
1m@2.08g/t
0.9m@3.98g/t
1.5m@9.0g/t
0.95m@2.12g/t
0.8m@36.7g/t & 1m@85.0g/t
0.8m@3.29g/t
1.8m@623.5g/t incl 1m@1154g/t
Karangahake Project: Level 8 & 5A
Quartz
vein
Levels
8 & 5A
Other
levels
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
Heritage Gold
drillhole
!
Winze
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
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(
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(
(
(
(
(
(
(
High Au grade (g/t)
channel sample
April 2011