New Talisman Gold Mines : Quarterly Activities/Cash Flow Report

Market Announcement

For Immediate Release

	New			Quarterly Activities Report to 30 June 2022
	Talisman Gold Mines				New Talisman Gold Mines Limited (NTL) is pleased to present a report on
	Limited
							activities for the quarter ended 30 June 2022.
	Responsible,				HIGHLIGHTS
	E vironmentally
				• Strategic Plan and Funding Mechanism Announced
	Sustainable Mining
	only					• Independent Report Supportive of Proposal
ASX/NZX Code	NTL
		• Shareholders Overwhelmingly Support Convertible Note
______________________
	Commodity Exposure				In April NTL announced its Strategic Plan and associated funding pro-
	GOLD and SILVER
				posal by way of issue of Convertible Notes. (refer release dated 27 April 2022 which
useBoard
				can be found on the following link
				https://www.asx.com.au/asxpdf/20220427/pdf/458bz20069nqqx.pdf )
	John Upperton Chairman/Independent Director		The Strategic Plan will see the return of underground activity at the
		Talisman mine and a commencement of the bulk sampling programme.
ForpersonalNew Talisman Gold Mines Limited
	Samantha Sharif Independent Director
	Mich el Stiassny Independent Director				Ahead of putting the plan to shareholders, the company engaged
	Victor R bone Non-Executive Director
				independent report writers Armillary Private Capital to assess the proposed
	Ja e Bell Company Secretary				method of capital raising. The independent appraisal resulted in a
				favourable view of the proposal, and that it was, on the whole, fair to existing
	Capital Structure				shareholders.
	Ordinary Shares at 30/06/2022	3,189m		(https://www.asx.com.au/asxpdf/20220609/pdf/459sh24xd7n71n.pdf)
	Share Price					A special shareholder meeting was held on 29th June to vote on the
					proposed issue of notes and also to approve the issue of 1 million dollars
	Sha e P ice at 28/07//2022 (NZX)	$0.002
	Sha e P ice at 28/07//2022 (ASX)	$0.001			worth to the company's largest shareholder Hamish Brown. Both
							resolutions received more than 92% support of votes cast.
							The company has engaged corporate advisors Campbell Macpherson to
							manage the offer to eligible and wholesale investors.
	Address	547 Parnell Rd, Parnell,
			Auckland
	Phone	[phone]
	Website	www.newtalisman.co.nz
	Email	[e-mail]
							Tenements
							Talisman Mine - MP51326
							Capella Vanuatu - PL1851

For personal use only

Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity

quarterly cash flow report

Name of entity
NEW TALISMAN GOLD MINES LIMITED
ABN	Quarter ended ("current quarter")
009 474 702	30 June 2022

Consolidated statement of cash flows	Current quarter	Year to date (3
			$NZ'000	months)
				$NZ'000
1.	Cash flows from operating activities
1.1	Receipts from customers	Nil	Nil
1.2	Payments for
	(a)	exploration & evaluation	Nil	Nil
	(b)	development	(10)	(10)
	(c)	production	Nil	Nil
	(d)	staff costs	Nil	Nil
	(e)	administration and corporate costs	(242)	(242)
1.3	Dividends received (see note 3)	Nil	Nil
1.4	Interest received	Nil	Nil
1.5	Interest and other costs of finance paid	Nil	Nil
1.6	Income taxes paid	Nil	Nil
1.7	Government grants and tax incentives	Nil	Nil
1.8	Other (provide details if material)	Nil	Nil
1.9	Net cash from / (used in) operating	(252)	(252)
	activities
2.	Cash flows from investing activities
2.1	Payments to acquire or for:
	(a)	entities	Nil	Nil
	(b)	tenements	Nil	Nil
	(c)	property, plant and equipment	Nil	Nil
	(d)	exploration & evaluation	Nil	Nil
	(e)	investments	Nil	Nil
	(f)	other non-current assets	Nil	Nil

ASX Listing Rules Appendix 5B (17/07/20)	Page 1
+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Current quarter	Year to date (3
			$NZ'000	months)
				$NZ'000
2.2	Proceeds from the disposal of:
	(a)	entities	Nil	Nil
	(b)	tenements	Nil	Nil
	(c) property, plant and equipment	Nil	Nil
	(d)	investments	Nil	Nil
	(e)	other non-current assets	Nil	Nil
2.3	Cash flows from loans to other entities	(8)	(8)
2.4	Dividends received (see note 3)	Nil	Nil
2.5	Other (provide details if material)	Nil	Nil
2.6	Net cash from / (used in) investing	(8)	(8)
	activities
3.	Cash flows from financing activities
3.1	Proceeds from issues of equity securities	Nil	Nil
	(excluding convertible debt securities)
3.2	Proceeds from issue of convertible debt	Nil	Nil
	securities
3.3	Proceeds from exercise of options	Nil	Nil
3.4	Transaction costs related to issues of equity	Nil	Nil
	securities or convertible debt securities
3.5	Proceeds from borrowings	Nil	Nil
3.6	Repayment of borrowings	Nil	Nil
3.7	Transaction costs related to loans and	Nil	Nil
	borrowings
3.8	Dividends paid	Nil	Nil
3.9	Other (provide details if material)	Nil	Nil
3.10	Net cash from / (used in) financing	Nil	Nil
	activities

4. Net increase / (decrease) in cash and cash equivalents for the period

4.1	Cash and cash equivalents at beginning of	493	493
	period
4.2	Net cash from / (used in) operating	(252)	(252)
	activities (item 1.9 above)
4.3	Net cash from / (used in) investing activities	(8)	(8)
	(item 2.6 above)
4.4	Net cash from / (used in) financing activities	Nil	Nil
	(item 3.10 above)

ASX Listing Rules Appendix 5B (17/07/20)	Page 2
+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

only

Consolidated statement of cash flows

1. Effect of movement in exchange rates on cash held
2. Cash and cash equivalents at end of period

Current quarter	Year to date (3
$NZ'000	months)
	$NZ'000
Nil	Nil
233	233

For personal use

5.	Reconciliation of cash and cash	Current quarter	Previous quarter
	equivalents	$NZ'000	$NZ'000
	at the end of the quarter (as shown in the
	consolidated statement of cash flows) to the
	related items in the accounts
5.1	Bank balances	128	388
5.2	Call deposits	Nil	Nil
5.3	Bank overdrafts	Nil	Nil
5.4	Other (provide details)	105	105
5.5	Cash and cash equivalents at end of	233	493
	quarter (should equal item 4.6 above)

6.	Payments to related parties of the entity and their	Current quarter
	associates	$NZ'000
6.1	Aggregate amount of payments to related parties and their	(63)
	associates included in item 1
6.2	Aggregate amount of payments to related parties and their	(8)
	associates included in item 2

Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.

The Company paid $56,428 for director fees to companies in which directors and major shareholders have a substantial interest

The Company paid $6,720 to Victor Rabone in capacity as Operations Manager.

The Company advanced $7,947 to Coromandel Gold Limited; a subsidiary of the Company. The Company advanced $29 to Rahu Resources Pty Limited; a subsidiary of the Company.

ASX Listing Rules Appendix 5B (17/07/20)	Page 3
+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

only

7. Financing facilities

Note: the term "facility' includes all forms of financing arrangements available to the entity.

Add notes as necessary for an understanding of the sources of finance available to the entity.

7.1 Loan facilities

7.2 Credit standby arrangements

7.3 Other (please specify)

7.4 Total financing facilities

Total facility	Amount drawn at
amount at quarter	quarter end
end	$NZ'000
$NZ'000
Nil	Nil
Nil	Nil
Nil	Nil
Nil	Nil

For personal use

7.5

Unused financing facilities available at quarter end

Nil

7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.

8.	Estimated cash available for future operating activities	$NZ'000
8.1	Net cash from / (used in) operating activities (item 1.9)	(252)
8.2	(Payments for exploration & evaluation classified as investing	Nil
	activities) (item 2.1(d))
8.3	Total relevant outgoings (item 8.1 + item 8.2)	(252)
8.4	Cash and cash equivalents at quarter end (item 4.6)	233
8.5	Unused finance facilities available at quarter end (item 7.5)	Nil
8.6	Total available funding (item 8.4 + item 8.5)	233
8.7	Estimated quarters of funding available (item 8.6 divided by	0.92
	item 8.3)

Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as "N/A". Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7.

8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions:

8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

Answer:

NTL anticipates incoming funds from the Capital Raising that is currently underway (ref 8.8.2)

8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer:

Shareholders have approved a Capital Raise by way of Convertible Note to raise up to NZ$3.5m. The company has engaged Campbell MacPherson to place the Convertible Notes and expects to conclude the Placement in coming weeks.

ASX Listing Rules Appendix 5B (17/07/20)	Page 4
+ See chapter 19 of the ASX Listing Rules for defined terms.