Mineral Resources and Reserves

10 July 2017 Addendum to Annual Report New Talisman Gold Mines Limited provides the following addendum to the 2016 Annual Report in accordance with ASX Listing Rules 5.21.4 and 5.21.5. There have been no changes from 2016 Annual Report. Resources and Reserves Statement Resources Mineral Resources Au Ag Category Tonnes Grade Ounces Grade Ounces Inferred 507,200 8.5 139,100 27.2 442,800 Indicated 197,690 5.0 31,660 26.5 168,140 Measured 212,500 5.0 34,000 27.5 187,900 TOTAL 917,390 6.9 204,760 27.1 798,840 Reserves Ore Reserves Au Ag Tonnes Grade Oz Grade Oz Probable 19,600 8.5 5,400 36.9 23,300 Proved 62,900 11.6 23,400 51.6 104,500 Total 82,500 10.8 28,800 48.1 127,800 Ore Reserves and Mineral Resources are estimated using all available geological and relevant drill hole and assay data, including metallurgical sampling and test work on gold/silver recoveries. Reserve estimates are determined by the consideration of all of the "modifying factors" in accordance with the JORC Code 2012 and, for example, may include but are not limited to, gold/silver prices, currency exchange rates, mining costs, metallurgical recoveries, environmental considerations, access and approvals. Resource estimates are determined by consideration of geology, grade distribution, cut-off grades and of the potential mining and extraction methodology. The Mineral Resource estimate used as the basis for conversion to Ore Reserve is set out in the public report titled "TALISMAN GOLD RESOURCE INCREASES TO 205,000 OZ" released to the market on 11 May 2005' and is available on the company website. The information in relation to the Mineral Resources was first prepared and disclosed under the JORC Code 2004. It has not been updated since to comply with the 2012 JORC Code on the basis that the information has not materially changed since it was last reported. All Resources quoted in this release are reported in terms as defined in the 2004 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' as published by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia ('JORC'). The Ore Reserve estimate is set out in the public report entitled Ore Reserves Definition - Talisman Gold Project which was released to the Market on 04 September 2013. The technical report on which was prepared in accordance with the Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 2012 (the JORC Code). The report was based on the outcome of a Pre-Feasibility Study completed in March 2013. The report is for the general information of Directors and shareholders of the company, potential investors and for the general disclosure of information to the market and is a Public Report as defined under the JORC Code. There have been no changes to the either Resource or Reserve estimates in the past year. The information in this announcement that relates to the Talisman Project Pre-Feasibility Study and the Ore Reserve estimates were prepared by Mr Wayne J Chowles, a Mining Engineer and member of the AusIMM. Mr Chowles is a full time employee of New Talisman Gold Mines Limited and the author of the Talisman Prefeasibility Study referred to in this release. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2004 and 2012 Editions of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Chowles consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The information in this announcement that relates to the public report titled "Talisman Gold Resource Increases to 205,000 Oz" released to the market on 11 May 2005 was prepared by Mr Murray Stevens, a consulting geologist and member of the AusIMM. Mr Stevens is an independent geological consultant and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2004 and 2012 Editions of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Stevens consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. End CA:00303818 For:NTL Type:GENERAL Time:2017-07-10 10:35:33