Quarterly Activities Report to 31 March 2023 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 31/3/2023 414,875,148


Share Price
Share Price at 26/04//2023 (NZX) $0.020
Share Price at 26/04//2023 (ASX) $0.015



New Talisman Gold Mines Limited

Address 2b Gibraltar Cres, 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 31 March 2023.
This quarter the company has again been fully focused on progressing our
Strategic Plan to bring the Talisman Mine to production.
During the quarter NTL progressed the following key matters.
• Completed a share consolidation on a 10 for 1 basis.
• Successfully completed a Rights Issue with existing shareholders
raising $1.718m of funds. The rights issue was supported by two
shareholding directors and saw NTL’s largest shareholder take up
their full allocation and apply for oversubscription.
• Opened the placement of shortfall from the Rights Issue which when
closed in April 2023 raised a further $155k bringing the total rights
issue funds raised to $1.873m. NTL also has in principle agreement
with a new shareholder to take $300,000 of shortfall, subject to com-
pleting necessary documentation
• Finalised the NTL Health and Safety Management System in readi-
ness for a return to site operations.
• As part of our focus on reducing unnecessary overhead, we have
now successfully sublet the former corporate office in Parnell until
the end of the lease period.

During the quarter t
he Company paid $44,863 for director fees to
companies in which directors and major shareholders have a substantial
interest. The Company paid $29,167 to John Upperton in his capacity as
Strategic Delivery Manager.
The Company advanced $5,139 to
Coromandel Gold Limited(CGL) in relation to activities in Vanuatu; CGL is
a subsidiary of the Company.
The Company advanced $861 to Rahu
Resources Pty Limited; a subsidiary of the Company.


Tenements
Talisman Mine – MP51326
Capella Vanuatu – PL1851

Quarterly Activities Report to 31 March 2023

Page | 1




Current
Quarter
$NZ



Year to Date
(12 Mths)
$NZ



Nil

(40,421)
Nil
(199,891)
Nil
5,246
(26,072)
Nil
Nil



Nil

(78,651)
Nil
(1,129,570)
Nil
6,340
(49,699)
Nil
Nil
(235,066) (1,227,952)



Nil
Nil
Nil
Nil
Nil
Nil
(8,120)
Nil
Nil



Nil
Nil
Nil
Nil
Nil
Nil
(18,338)
2,302
Nil


(8,120)

(16,036)



1,741,416
Nil
Nil
Nil
Nil
Nil



1,741,416
Nil
1,000,000
Nil
Nil
Nil

1,741,416

2, 741,416

1,498,231
490,611
(563)

1,497,429
492,507
(1,656)

1,988,280

1,988,280

APPENDIX 11 (Rule10.8.4)


QUARTERLY REPORT OF CONSOLIDATED CASH
FLOWS
NEW TALISMAN GOLD MINES LIMITED
For Quarter ended 31 Mar 2023
(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
* see annexure 1

(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

33,102

100,000

33,102

100,000


Current Quarter
$NZ

Previous Quarter
$NZ

131,121


135,6111


1,752,159

250,000

Nil

Nil

105,000

105,000


1,988,280



490,611


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)]





*

Page | 3


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

414,875,148 414,875,148
SHARES
Issued during current
quarter:
95,067,899 95,067,899
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 S ecretary)
Authorised Officer of Listed Issuer
31 March 2023

Page | 4

Annexure 1


List of interest in mining permits:

Talisman Mine – MP51326
Capella Vanuatu – PL1851