New Talisman Gold Mines Limited Reports Strong Quarterly Progress

Highlights:

• Partnership with Terra Firma Mining: Entered into an agreement to lease premises and process ore from the Talisman Mine, advancing operational capabilities.
• Successful Capital Raise: Secured NZ$1.805 million from a Rights Offer, enabling strategic plan execution and operational expansion.
• Long-Term Access Arrangement: Granted a five-year Access Arrangement from the Department of Conservation, providing operational certainty and enabling full progression of mining activities.

Partnership with Terra Firma Mining

New Talisman Gold Mines Limited (NZX: NTL) is pleased to announce significant progress in the quarter ending June 30, 2024. The company has entered into a Heads of Agreement with Terra Firma Mining Ltd (TFM) to lease premises and process ore produced by the Talisman Mine. This partnership marks a critical step towards advancing the company's operational capabilities.

Plant Relocation and Processing

NTL has secured a plant overseas to process Talisman Ore, paying a refundable deposit of 10% of the purchase price. The plant will be relocated to New Zealand, with an estimated shipping time of 7-8 weeks plus customs clearance. The processing site is being prepared by TFM, and NTL is in discussions with refiners to produce dore bars from the high-grade concentrate.

Long-Term Access and Fast Track Application

During the quarter, NTL was granted a five-year Access Arrangement from the Department of Conservation, significantly improving operational certainty. Additionally, NTL applied to be included in the Fast Track Approvals Bill, aiming to streamline resource approval processes. Inclusion in this bill could accelerate the approval process for full mining consent, reducing costs and ensuring timely outcomes.

Funding and Capital Raise

NTL has secured $1.4 million in unsecured loans to support operations until the completion of a capital raise. A Rights Offer to shareholders in New Zealand and Australia raised NZ$1.805 million, enabling the company to proceed with its strategic plan. This includes a final inspection of the processing plant and commencing bulk sampling on the Mystery Vein at Talisman.

Administration and Compliance

NTL addressed a trading halt on NZX and ASX by securing sufficient funding to satisfy audit requirements. Following the reissued audit report, trading resumed on both exchanges. The company paid $45,000 for director fees and $17,500 to its Strategic Delivery Manager.

Vanuatu and Future Prospects

Progress in finding a JV partner or sale for the Vanuatu permit remains slow, but NTL remains open to interest. The company's quarterly activities reflect a robust strategy to enhance its mining operations and financial stability, positioning NTL for continued growth and success.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com