Preliminary Full Year Report to 31 Mar 2023

Template
Results announcement
(for Equity Security issuer/Equity and Debt Security issuer)
Updated as at 17 October 2019


Results for announcement to the market
Name of issuer New Talisman Gold Mines Limited
Reporting Period 12 months to 31 March 2023
Previous Reporting Period 12 months to 31 March 2022
Currency
Amount (000s) Percentage change
Revenue from continuing
operations
$6 432%
Total Revenue $6 432%
Net profit/(loss) from
continuing operations
($1,146) (80%)
Total net profit/(loss) ($1,200) (79%)
Interim/Final Dividend
Amount per Quoted Equity
Security
$ Nil
Imputed amount per Quoted
Equity Security
Not Applicable
Record Date Not Applicable
Dividend Payment Date Not Applicable
Current period Prior comparable period
Net tangible assets per
Quoted Equity Security
$0.025 $0.0031
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
[May refer to an attached document]
Authority for this announcement
Name of person

authorised
to make this announcement
Jane Bell
Contact person for this
announcement
Jane Bell
Contact phone number 021 764 224
Contact email address jane@newtalisman.co.nz
Date of release through MAP

30/05/2023

unaudited financial statements accompany this announcement.

Page | 1

_____________________________________________________
30 May 2023


FOR IMMEDIATE RELEASE
NTL FY 2023 Preliminary Results (non-audited) [ASX, NZX: NTL]
New Talisman has today reported its preliminary FY 2023 results, showing a marked improvement in
underlying performance, driven by a clear focus on delivering value for shareholders through cost reduction
and a realistic and achievable Strategic Plan.
Summary of key Results and Events
• Finalised our Strategic Plan – focused on Mystery Vein at Talisman
• Identified innovative and feasible mining methods to classify ore underground, thus minimizing the
quantity of material to be removed from the mine, and as a result improving our environmental footprint
and providing cost-efficiencies.

• Finalised our Health and Safety Management System(HSMS) which is essential for the return to
underground operations. The HSMS enables the Company to move forward with confidence that its
operations and contractors will be working in an environment that complies with rigorous health & safety
procedures.

• The Company restructured its Corporate operations in September 2022 which has resulted in an overall
reduction in accounting, audit and secretarial fees of $79,655 on the prior year. More recently, we have
also subleased our Parnell Office, which was surplus to requirements.

• Share Consolidation Completed on a 10 for 1 basis

• Successful capital raise strategy to allow implementation of NTL’s S trategic P lan.
• NZ$1m Convertible Note issued t o the Company’s largest shareholder for an 18 month period
commencing August 2022

• NZ$1.873m raised in Rights Issue, including participation from the majority of top 20 shareholders and
NTL Director participation

• High level of oversubscription at 33% from those that participated in the Rights Issue
• Continuing interest in shortfall participation
• During the year the Company had additional legal fees, registry services costs and stock exchange fees
associated with the placement of capital under the Rights Issue and the associated share consolidation.

• Settlement of legal claim by Matt Hill by way of payment of $145,000 excl gst in full and final settlement.
The net effect of this transaction is reflected in the statement of operations. (M Hills original claim
asserted an entitlement to various employment related entitlements and compensation, provisionally
quantified at $817,537.)

• At the end of the year the Company had a cash balance of $1,987,733.(previous period $492,507)
• No dividend attributed to this period.

2b Gibraltar Cres, Parnell, Auckland 1052
Office +64 9303 1893
Fax +64 9303 1612
info@newtalisman.co.nz

2


In summary, the Company's financial year to March 31, 2023 has been a year of preparation and planning.
Having addressed many legacy issues and receiving strong shareholder support for our Strategic Plan and
future direction, we are well-positioned to move forward and remain on track to commence bulk sampling on
the Mystery Vein at Talisman in the second half of 2023.


Current Reporting Period
31 March 2023
(12 months)
$
Previous Reporting Period
31 March 2022
(12 months)
$
Change
%
Revenue for ordinary activities 6,340 1,191 432%
Loss from ordinary activities attributable to
members of the listed issuer
1,145,559 5,719,320 (80%)
Tenement expenditure 75,720 294,447 (74%)
Prospecting Expenditure - - -
Total Net Expenditure 1,221,279 6,013,767 (80%)

3
Consolidated Statement of Comprehensive Income


Reporting Period
31 March 2023
Previous Reporting
Period 31 March 2022


$ $
Revenue
6,340 1,191
Total revenue
6,340 1,191



Accountancy fees
58,637 156,224
Auditor’s fees – auditing and review of the financial
statements
34,284 49,093
Consultancy fees 81,167 32,419
Depreciation 58,213 57,426
Director fees 189,081 142,418
Foreign exchange loss/(gain)
1,740 (7,505)
Insurance 75,744 80,743
Legal fees 97,581 119,399
Loss on Investments - 112,366
Rental and lease costs 519 3,163
Secretarial expenses 101,991 69,250
Security 54,961 64,115
Settlement of dispute 122,395 -
Share registry 91,827 99,650
Share revaluation loss/(gain) 40,903 (54,397)
Stock exchange fees 80,008 58,281
Other 56,508 84,669
Total operating expenses 1,145,559 1,067,314
Loss from operations
1,139,219 1,066,123
Finance Costs
60,537 3,100
Impairment of mine development - 4,650,097
Other Comprehensive Income - -
Net deficit attributable to members 1,199,756 5,719,320

Earnings per share

Basic earnings/(loss) per share
(0.03) cents (0.03) cents
Diluted earnings/(loss) per share
(0.03) cents (0.03) cents


Consolidated Statement of Financial Position


Reporting Period
31 March 2023

Reporting Period
31 March 2022

$ $
Cash
1,987,733 492,507
Inventories
314,275 314,275
Right of use assets
16,969 -
Receivables and prepayments
102,440 92,379
Current assets
2,421,417 899,161


Property, plant & equipment
133,972 163,097
Assets Under Construction
9,105,483 9,029,763
Intangible assets
330,865 330,865

4
Right of use assets
- 46,057
Investments
34,851 75,754
Non-current assets
9,605,171 9,645,536


Total assets
12,026,588 10,544,697


Payables
167,900 200,436
Convertible Note
1,000,000 -
Short Term Lease Liabilities
17,924 29,540
Total Current liabilities
1,185,824 229,976
Total Non-Current liabilities
36,745 52,362
Total liabilities

1,222,569
282,338
Capital


40,776,761


39,064,145
Reserves
28,800 -
Retained profit/(loss)
(30,001,542) (28,601,008)
Total equity
10,804,019 10,463,137


Total Equity and Liabilities
12,026,588 10,544,697

Net tangible assets per security

Net tangible assets
10,473,154 9,931,494
Net tangible assets per security
0.025 0.31 cent


Consolidated Statement of Cash Flows


Reporting Period
31 March 2023

Reporting Period
31 March 2022

$ $
Cash flows relating to operating activities

Cash inflows
6,340 691
Cash outflows
(1,145,530) (889,195)
Net operating cash flows
(1,139,190) (888,504)


Cash flows relating to investing activities

Cash inflows
- -
Cash outflows
(75,720) (558,817)
Net investing cash flows
(75,720) (558,817)


Cash flows relating to financial activities

Cash inflows
2,741,416 847,774
Cash outflows
(29,540) (26,146)
Net financing cash flows
2,711,876 821,628


Net increase/(decrease) in cash held
1,496,966 (625,693)
Cash at beginning of period
492,507 1,110,695
Exchange rate gain/(loss)
(1,740) 7,505
Cash at end of period
1,987,733 492,507

5

Consolidated Statement of Changes in Equity


Reporting Period
31 March 2023

Reporting Period
31 March 2022


$ $
Equity at start of period
10,262,359 15,133,905
Net profit / (loss)
(1,199,756) (5,719,320)
Shares issued
1,712,616 847,774
Capital Reserve
28,800 -
Equity at end of period
10,804,019 10,262,359





These annual financial statements are subject to completion of the audit.

No dividends or distributions were paid or are planned.

All statements are prepared in accordance with New Zealand equivalents to International Financial
Reporting Standards.


There are no accounting policies which the directors believe are critical to the portrayal of New Talisman’s
financial condition and results which require the directors to make judgements and estimates about matters
that are inherently uncertain.


All accounting policies have been applied on bases consistent with those used in previous years.



















About New Talisman Gold Mines Ltd

New Talisman Gold is a dual listed (NZSX & ASX: NTL) with over 3,000 shareholders who are mainly from Australia and New Zealand
and has been listed since 1986. It is a leading New Zealand minerals development and exploration company with a mining permit
encompassing the Talisman mine, one of New Zealand’s historically most productive gold mines. The company has commenced
prospecting and upgrading activities at the mine and advance the exploration project to increase its considerable global exploration target
into JORC 2012 resources.
Its gold properties near Paeroa in the Hauraki District of New Zealand are a granted mining permit, including one of New Zealand’s
highest-grade underground gold mines.
More about New Talisman Gold at www.newtalisman.co.nz