Talisman Mining Ltd (ASX: TLM, Talisman) is pleased to advise it has received encouraging results from the second phase of Reverse Circulation (RC) drilling at the large-scale Cumbine gold prospect, located within Talisman's Lachlan Copper-Gold Project in NSW.

The limited reconnaissance program was designed to provide further information on this extensive gold target, which is defined by a large magnetic anomaly, extensive surface geochemical sampling and a north-west trending magnetic lineament.

The 2-hole RC program was targeted along strike to the south and south-west (500-600m) from ore grade mineralisation intersected in previous and historical drilling to provide further information on the potential scale of the exploration opportunity at Cumbine.

One metre sample intervals were submitted to ALS Global laboratories in Orange NSW for gold analysis using fire assay and all assays have now been received.

The drilling intersected fine grained volcaniclastic and medium grained felsic volcanic lithologies as well as significant gold mineralisation in hole CURC006. The gold mineralisation is hosted predominantly within a medium grained felsic volcanic lithology and has a strong association with quartz veining, pyrite and sericite alteration.

The drilling also intersected low-level gold mineralisation in hole CURC0005 which is interpreted to be the up-dip extension of the mineralisation intersected in hole CURC0006. The interval in CURC0005 assayed 6 metres at 0.12 g/t Au from 81 metres.

These results are highly encouraging and have extended the footprint of known gold mineralisation in the area. The results also support the interpretation of a north-west trending structure that has the potential to host additional gold mineralisation.

Ongoing exploration within the prospect area will focus on in-fill soil sampling and mapping over the coming months with the objective of better understanding the controls on gold mineralisation and providing targets for future drilling.

Babinda Copper Prospect (EL8658 - TLM 51%)

As previously announced to the ASX5 , Talisman conducted a ground electromagnetic (EM) survey over the Babinda copper prospect. This EM survey has now been completed and the data has been processed and interpreted by Southern Geoscience Consultants Pty Ltd. The survey included 104 stations and 4.95 line kilometres.

The survey did not detect any conductors that could be attributed to a massive sulphide body. The prospect is considered to have the potential to host copper mineralisation however further geological interpretation and review will be undertaken to assess future exploration activities for the prospect in the short term.

Blind Calf Copper Prospect

RC drilling at the Blind Calf Copper Prospect is well advanced and expected to be completed within the next week. An update on this drilling and expected timeframe for assay results will be provided in due course.

Contact:

Tel: +61 8 9380 4230

About Talisman Mining

Talisman Mining Limited (ASX:TLM) is an Australian mineral development and exploration company. The Company's aim is to maximise shareholder value through exploration, discovery and development of complementary opportunities in base and precious metals.

Talisman has secured tenements in the Cobar/Mineral Hill region in Central NSW through the grant of its own Exploration Licenses and through separate farm-in and joint venture agreements. The Cobar/Mineral Hill region is a richly mineralised district that hosts several base and precious metal mines including the CSA, Tritton, and Hera/ Nymagee mines. This region contains highly prospective geology that has produced many long-life, high-grade mineral discoveries. Talisman has identified a number of areas within its Lachlan Cu-Au Project tenements that show evidence of base and precious metals endowment which have had very little modern systematic exploration completed to date. Talisman believes there is significant potential for the discovery of substantial base metals and gold mineralisation within this land package and is undertaking active exploration to test a number of these targets.

Talisman has also entered into a joint venture with privately-owned Lucknow Gold Limited in relation to the Lucknow Gold Project (EL6455) in New South Wales. The Lucknow Goldfield was discovered in 1851 and was one of the earliest goldfields to be mined commercially in Australia. Historic production records at the Project are incomplete, however in excess of 400,000 ounces of gold has reportedly been produced at grades of 100 to 200 g/t gold6.Very little modern exploration has been completed outside of the existing mine workings and Talisman intends to undertake a program of geochemical surface sampling and mapping at the Project ahead of a drilling program to test for potential down plunge extensions of the high-grade gold ore shoots and repeat structures throughout the Project area.

Forward-Looking Statements

This ASX release may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Talisman Mining Ltd.'s current expectations, estimates and assumptions about the industry in which Talisman Mining Ltd operates, and beliefs and assumptions regarding Talisman Mining Ltd.'s future performance. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks', 'estimates', 'potential' and similar expressions are intended to identify forwardlooking statements. Forward-looking statements are only predictions and are not guaranteed, and they are subject to known and unknown risks, uncertainties and assumptions, some of which are outside the control of Talisman Mining Ltd. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Talisman Mining Ltd does not undertake any obligation to update or revise any information or any of the forward looking statements in this announcement or any changes in events, conditions or circumstances on which any such forward looking statement is based.

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