Chairs Address to the ASM 2026 with Presentation

(NZX:NTL)
New Talisman – Chair’s Address to ASM 2026
September 16, 2026
Good afternoon everyone, and welcome.
On behalf of the Board of New Talisman Gold Mines Limited, I would like to thank all
shareholders for joining us today and for your continued support of the Company. Your
patience and belief in the long-term potential of the Talisman Project have enabled us
to continue advancing what we believe is one of New Zealand's most prospective gold
projects.
The past year has been one of disciplined progress. Much of our effort has taken
place behind the scenes: - strengthening our technical foundations to expand our
understanding of the Talisman Project.
A significant milestone this year was the completion of an independent review by RSC
Consulting Ltd.
Through the integration of historical mine records, drilling information, underground
sampling and modern geological interpretation, we now have a far more
comprehensive and detailed understanding of the mineralised systems within the
project area.
This work has confirmed the structural continuity of the Welcome-Crown vein system
and highlighted a number of under-explored areas that offer significant potential. In
particular, analysis indicates that portions of the Crown vein remain largely unmined
despite demonstrating encouraging geological characteristics. At the same time,
ongoing analysis of the Mystery, Roderick Dhu and Dubbo structures continues to
reinforce the potential for multiple mineralised systems within the permit area.
Most importantly, it has established a pathway toward defining additional Exploration
Targets in accordance with the JORC Code, a significant step in confirming the scale
of opportunity that exists within the Talisman Project and our extensive historical
mining district.
Alongside the geological work, we have commenced modernisation of our technical
datasets through migration to the NZTM2000 coordinate system and implementation
of enhanced data management processes. While this work is highly technical in
nature, it represents an important investment in the long-term quality and integrity of
the project's geological database and future resource evaluation.

At Rahu, the Company holds a five-year exploration permit that provides a strong
foundation for advancing this highly prospective project. Our exploration programme
will begin with a comprehensive review of historical surface and drilling results,
alongside new geological mapping and sampling, to refine our understanding of the
epithermal mineralised system. This work will inform the planning of future drill
programmes aimed at testing for deeper high-grade gold and silver mineralisation. We
have already commenced engagement with landowners within the permit area and will
shortly be applying to the Department of Conservation for authority to access and
undertake non-invasive exploration activities on the portions of land under its
management. These important steps will enable us to progress our permitted
exploration programme as outlined in our Strategic Plan.
Operationally, we continue to maintain a strong focus on compliance and stakeholder
relationships. During the year, WorkSafe completed an inspection of our mining
operations and confirmed compliance, with no further action required. We have also
continued constructive engagement with New Zealand Petroleum & Minerals and the
Department of Conservation regarding permitting and future activities.
The Company has also strengthened its presence in key mining forums, including NZX
and AusIMM events. These events have highlighted how advanced New Talisman is
compared with many of its peers – already having significant declared JORC resource,
along with necessary permits, whilst operating from a very modest capital base
compared with others.
Whilst the Board remains focussed on cost-efficient operations – nevertheless our lack
of capital is a key constraint to advancing exploration. We are currently working on
our funding strategy – and I am pleased to advise that we have just mandated Foster
Capital, who are experienced in the sector, to support us with this. Our objective
remains clear: to secure the capital required to advance exploration programmes while
maintaining a disciplined approach to shareholder value. We believe that achieving
key technical milestones, particularly the delivery of Exploration Targets, will
strengthen the Company's ability to attract investment and support future growth
initiatives.
You will note from the resolutions being considered today that the Company is seeking
to refresh and extend its placement capacity for the issue of shares. The Board
expects to undertake a private placement to eligible investors to meet the Company's
short-term funding requirements while we continue to refine our broader exploration
and development strategy – using the results of the RSC review work.
Once that strategy has been finalised and communicated to the market, we intend to
pursue a wider capital raising that will provide all shareholders with an opportunity to
participate. If you would like to express interest in the proposed private placement,
please contact our General Manager, Jane Bell, who will be pleased to discuss the
opportunity with you. I intend to participate, as do some of my fellow Board members.

Pleasingly, the buoyant mining sector, alongside our constructive work on the project
this year, has begun to generate interest from new potential investors, both
domestically and offshore.
Looking ahead, we believe New Talisman is well-placed to cement its position as the
most advanced exploring gold miner on the NZX. We have a clearer understanding of
the geology, stronger modern technical datasets, independent validation of the
project's potential, progress toward defining Exploration Targets, active stakeholder
engagement, and a growing level of interest from the investment community.
The Board remains committed to a disciplined, technically driven approach to
exploration and development. We are confident that the work undertaken over the past
year has laid the foundations for future value creation and positioned the Company to
unlock more of the considerable potential within the Talisman Project- with our
declared JORC 2012 Resource of 350,000 oz Gold Equivalent, alongside our history
and location in one of the most productive gold fields in New Zealand.
Finally, I would like to thank all of those who have supported the Company over the
year. My fellow Directors John Upperton and Michael Stiassny, who both retired from
the Board during the year. Our shareholders, management team, consultants and
fellow directors for their continued dedication and support.
Thank you.

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Advanced explorer | Defined JORC resource | Targeted operations
Experienced team | Scalable production
A WORLD-CLASS OPPORTUNITY
IN A WORLD-CLASS GOLD PROVINCE
Presentation Sept 2026

Disclaimer
Nature of Document
The purpose of this presentation is to provide general information about New Talisman Gold Mines Limited (NTL) which is currentas at the date released unless otherwise specified. It is information in a summary form and
does not purport to be complete. The information in this presentation should be read in conjunction with NTL’s other announcements lodged with the NZX.
No Advice or Offer
This presentation is presented for informational purposes only. It does not constitute an offer, invitation, solicitation or recommendation or advice with respect to the issue, purchase, or sale of any securities or other financial
products in NTL. It is not intended to be, and is not, a prospectus, product disclosure statement, offering memorandum or private placement memorandum for the purpose of Chapter 6D of the Corporations Act 2001. It is not
recommended that any person makes any investment decision in relation to NTL based solely on this presentation. This presentation does not necessarily contain all information which may be material to the making of such a
decision. Any investor should make its own independent assessment and determination as to NTL ’s prospects prior to making any investment decision and should not rely on the information in this presentation for that
purpose. This presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or to any “US person” (as defined in Regulation S under the US Securities Act of 1933, as
amended (Securities Act)) (US Person). Securities may not be offered or sold in the United States or to US Persons absent registration or an exemption from registration. NTL ’s shares have not been, and will not be, registered
under the Securities Act or the securities laws of any state or jurisdiction of the United States. This presentation is not for distribution directly or indirectly in or into the United States or to US Persons. Except for statutory
liability which cannot be excluded, NTL as well as its officers, employees and advisers expressly disclaim any responsibilityfor adequacy, accuracy, reasonableness or completeness of the material contained in this presentation
and exclude all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or 2 omission therefrom. NTL
accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this presentation or any other information made available to a person nor any obligation to furnish any person
with any further information.
Disclaimer/Forward Looking Information
This presentation contains certain forward-looking statements, guidance, forecasts, estimates, prospects and projections in relation to future matters that may involve risks or uncertainties and may involve significant items of
subjective judgement and assumptions of future events, which as at the date of this presentation are considered reasonable, but that may or may not eventuate (Forward Looking Statements). Forward Looking Statements can
generally be identified by the use of forward-looking words such as, ‘anticipate’, ‘estimates’ ‘will’, ‘should’, ‘could’, ‘may’,‘expects’, ‘plans’, ‘forecast’, ‘target’ or similar expressions and may include, without limitation,
statements regarding plans, strategies and objectives of management, anticipated production and expected costs. Indications of, and guidance on future earnings, cash flows, costs, financial position and performance are also
Forward-Looking Statements. Persons reading this presentation are cautioned that such statements are only predictions, and that actual future results or performance may be materially different. Forward Looking Statements,
opinions and estimates included in this presentation are based on assumptions and contingencies which are subject to change, without notice, as are statements about market and industry trends, which are based on
interpretation of current market conditions. Forward Looking Statements are provided as a general guide only and should not be relied on as a guarantee of future performance. Forward Looking Statements are subject to
known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such
forward looking information. No representation or warranty, express or implied, is made by NTL that any Forward-Looking Statement will be achieved or proved to be correct. Further, NTL disclaims any intent or obligations to
update or revise any Forward-Looking Statements whether as a result ofnew information, estimates or options, future events or results or otherwise, unless required to do so by law. This presentation contains information
relating to exploration results and mineral resources reported by third parties in respect of projects located in proximity to the Company’s tenements. Such information is provided for illustrative purposes only and should not
be interpreted as an indication that similar results will be achieved on the Company’s tenements. The Company has no interestinthe neighbouringprojects referred to and has not independently verified the accuracy,
reliability or completeness of the third-party information. Mineralisationon projects in proximity to the Company’s tenements is not necessarily indicative of mineralisationwithin the Company’s own holdings.
JORC 2012 Competent Persons Statement
The information in the report to which this statement is attached that relates to Exploration Targets or Mineral Resources isbased on information compiled by Jackie Hobbins, a Competent Person who is a Member of the
Australian Institute of Geoscientists. She has sufficient experience that is relevant to the style of mineralisationand type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as
defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.MsHobbins is an independent consultant employed by Hobbins Consulting Limited and has no
financial interests in New Talisman Gold Mines Limited or any associated companies and was remunerated for this report on a standard fee for time basis.

Hauraki Gold Deposits

Location, Geology & Mineralisation
•Situated in the Kaimai-Mamaku Forest park
•Talisman Permit covers the historical Talisman and Crown Mines
•Surface footprint of half an acre
•Is an example of low impact mining in NZ
•Main mineralised structures within the project are Maria Vein, Mystery Vein and Welcome/Crown Vein
•Maria strike length approx. 1.5km, Gold/Silver in at least 4 shoots of higher gradeWoodstock, Talisman,
Bonanza and Dubbo Shoots
•Crown strike length similar toMaria. Welcome, Crown and Sutro

•Secure all necessary consents to commence the bulk sampling program –achieved
•Establish a processing facility to process Talisman Ore –achieved
•Produce a gold concentrate –achieved
•Find a buyer for NTL gold concentrate –achieved
•Reduce overheads and improve efficiencies –achieved
•Resolve issue of tailings management -achieved
Recent Goals & Achievements

New Talisman Gold Deposits

Mystery Drive
•Focal point to extend the face of the Mystery north drive.
•In fill sampling carried out on the development drive resulted
in increased grade of Mystery resource
•First Gold Concentrate produced in Oct 2025
•Development paused pending technical assessment &
funding
•Further drilling planned to enhance understanding of Mystery
Vein
•Shows similar geological characteristics to adjacent veins and
similar north south strike direction
•Channel samples of development drive show grades of up to
52g/t gold
•Rhoderick Dhu is exposed on 7 level track approx. 500m to
the north and has been traced on surface by previous
companies. Talismans working hypothesis is that these veins
could be one and the same

Dubbo
•Dubbo Zone on Maria Vein some 800m inside the mine along level 8
•Largest of the mines existing ore blocks containing some 117,250 oz gold of the
mines 350,000 oz mineral resource at an average grade of 21.6g/t Au
•Historic data acquired in 2015 suggests potential depth extensions of the Dubbo
Zone
•Rehab work planned from Keilers cross-cut to Dubbo approx. 250m of rehab is
required
•The extension of the Dubbo Zone lies immediately below workings planned in
the strategic plan
•These can be accessed by creating drill positions on the hanging wall to enable
confirmatory drill testing
•New program involves deeper drill holes to target gold mineralised Maria Vein
beneath current indicated resource.
•Diamond drilling is assumed to be around 1000m subject to detailed planning
and drill cuddy desig
n

Rahu
•Rahu permit covers 387 hectares, in part adjoining and directly north of NTL’s
Talisman mine
•Represents an exciting opportunity being the northern extensions of the NE trending
Karangahake mineralised structural corridor
•Exploration has demonstrated extensive goldand silver mineralisation represents the
upper levels of the more deeply eroded epithermal system that hosts the Talisman
gold deposits.
•Mineralisation at Rahu lies between Talisman and the gold deposits in the Waitekauri
Valley that host the former Golden Cross mine and Jubilee deposit
•Previous surface mapping, geochemical sampling and shallow drilling have given
strong evidence of potential for high grade gold mineralisation at depth similar to
Favona
•Program initially involves assessing all previous surface and drill results plus new
mapping and sampling followed by drill hole planning to test for deeper high-grade
gold and silver mineralisation
•Has potential to increase overall resource base and scale of the Talisman project
•5 yearpermit in place with right of renewal for 5 years

Ounces Bullion equivalent
Grade g/t Bullion
equivalent
Tonnes Ore Zone/Vein
Resource Category
4,1004.329,000TalismanBonanza
Indicated
4,4009.015,000DubboIndicated
2,60019.04,300DubbosplayIndicated
5,6005.135,000WoodstockIndicated
3,6005.122,000WoodstocksplayIndicated
20,0006.0110,000TotalIndicated
190,00019.0300,000Talisman-BonanzaInferred
110,00023.0150,000DubboInferred
25014.0560DubbosplayInferred
11,0005.662,000WoodstockInferred
2,9004.720,000WoodstocksplayInferred
11,00025.014,000MysteryInferred
330,00019.0550,000TotalInferred
350,00017.0660,000
TotalResources(*Crownexcluded)
Note:
Data sources include historic bullion samples, drill holes and underground
channelsamples
•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,generalandadministrationcosts,royalties,andcommodityprices.
•Ounces are estimates of metal contained in the Mineral Resource and do not
includeallowancesforprocessinglosses.
•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:
Equivalentbulliongrade=Goldgrade+(Silvergrade*0.031609),whichisbased
on historical prices of gold and silver. The equivalent bullion value of the
resourceisthesameasanestimatedgoldequivalentgradeduetothemannerin
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/ozduringtheperiodofhistoricalproduction.Silverpricesrangedfrom
USD0.49toUSD1.03/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.
The full JORC report is available to read on NZX announcements titled “2020 Mineral Resource
Estimate” released to market on 24 June 2020
JORC 2012 Resources

2026 Strategic Plan –Intended Actions
•Complete the RSC Modelling
•Targeted exploration drilling at Mystery & Dubbo
•Building the JORC(2012) resource –by modelling the existing
Crown and Welcome data
•Expanded production from the development drives by working on
more than one face to generate economies of scale (continuing to
advance Mystery vein and opening a second face on the Dubbo
Vein)
•Continued production and sale of gold and silver concentrate
from the development drives
•Adding geological support to improve data acquisition and grade
control
•Completing the second means of egress at Talisman
•Commencing longer term mine planning
•Commencing exploration at Rahu, an adjacent tenement.

1.Deriskinganddelivering:
Processing plant operational, first concentrate produced, and commercial offtake secured —NTL is now an advanced
explorer primed for production
2.Strongassetbase:
350,000 oz JORC (2012) resource and an operating plant provide a robust foundation for sustained value creation
3.Scalableproductiongrowth:
Multiple new work faces planned, active development, and improved grade control support step change expansion
in output
4.Clearpathtoresourcegrowth:
Plan for targeted drilling at Mystery, Dubbo, and Rahu presents potentialnear termupside in resource
5.Positionedforlongtermsuccess:
Operationalefficiencygains,reducedoverheads,andstrengthenedgeologicalcapabilitysettheplatformforgrowth
EXPLORING | SCALING | CREATING VALUE
NTL -A World Class Opportunity in a World Class Gold Province

A World Class Opportunity in a World Class Gold Province
•350,000 oz JORC (2012) Resource defined
•Further potential enhancements to Resource underway
•Bulk Sampling Consents in place
•Key contractors engaged
•Processing plant operational
•Sales path defined