Clarification - NTL Enters Business Confirmation

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30 October 2025
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED
(NZX: NTL)
FOR IMMEDIATE RELEASE
Clarifying Announcement
NTL Enters into Business Confirmation with
International Buyer Ocean Partners UK Limited
Further to NTL’s announcement released 29 October 2025, NTL here provides further
information. New Talisman Gold Mines Ltd (NZX: NTL) confirms the Heads of
Agreement(HOA) entered into is a Business Confirmation(BC) for the offtake of gold
concentrate with globally recognised metals trading firm, Ocean Partners UK Limited.
The key negotiated operational terms are set out in the BC and are not expected to differ in
the formal (or final) documentation of the agreement which is to follow, the key terms are:
- Provisional Payment of 90% of the estimated value of the Material based on
the Sellers provisional weights and assays and metal prices averaged over the
10 trading days prior to the date of Provisional Invoice.
- Final Settlement: Adjusted payment will be made following final assay by the
buyer at an overseas laboratory, based on 96.5% of the gold price and 90% of
the silver price.
- Logistics: Responsibility for the concentrate transfers to the buyer upon
handover at the Port of Auckland.
- Production Commitment: Ocean Partners has committed to purchasing 100%
of New Talisman’s gold concentrate production for the next six months.
This BC compares favourably with other refining proposals NTL has previously considered.
It has the advantage of streamlined logistics with the buyer to take possession in New Zealand
and paying upon assay. The parties consider the BC binding and the first consignment will
be progressed accordingly.
The Board of New Talisman is delighted to have entered into this BC as the Company
transitions into production.




John Upperton
General Manager
New Talisman Gold Mines Limited
2b Gibraltar Cres,
Parnell, Auckland 1052
Office +64 9 303 1893
info@newtalisman.co.nz