Preliminary Full Year Result

_____________________________________________________ 30 May 2018 FOR IMMEDIATE RELEASE ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED [ASX, NZSX: NTL] Preliminary Announcement - Full Year Results Current Reporting Period 31 March 2018 (12 months) $ Previous Reporting Period 31 March 2017 (12 months) $ Change % Revenue for ordinary activities 128,597 21,571 496% Loss from ordinary activities attributable to members of the listed issuer 1,005,468 751,338 34% No dividend attributed to this period. Tenement expenditure for the reporting period was $1,794,386 compared to $553,210 in the previous reporting period. No exploration expenditure was written off during the current reporting period (last year $9,950). At the end of the year the Company had a cash balance of $4,828,750 HIGHLIGHTS OF THE YEAR o During the year NTL acquired the shares in Newcrest New Zealand Pty Ltd (renamed Rahu Resources Pty Ltd) which holds the Rahu exploration permit giving 100% control of the permit back to the NTL group. o Refurbishment of the underground workings progressed more than 700m into the mine. o Ore extraction from the Talisman mine commenced during the period under review. o Compressed air system installed and commissioned along with the water reticulation system o Pre-feasibility study update and scoping study nearing final with review and valuation currently being undertaken by Geos mining o Resources at the Talisman mine were increased from 204,000 ounces to more than 469,000 ounces with grades increased by 94% from the 2004 resource estimate. o Completions of underground concentrator design and metallurgical testwork studies resulted in similar recoveries of gold to that treated at Waihi Plant without any hazardous chemicals. o The company completed a successful SPP raising just under $2 million to further the development of the Talisman and Rahu mining projects. SUMMARY During the year the company invested significant funds to commence mining activities at Talisman and following site installation the company significantly advanced the Talisman mine both in resources and underground mine developments. Underground works have now progressed more than 730m into the mine opening up both Mystery and Dubbo accessways with ongoing work at Dubbo continuing. Following the AGM late in 2017 the company completed both metallurgical test work on Talisman ore which identified a concentration option allowing recoveries of ore without the use of any hazardous chemicals. Works currently underway will allow for both explosives and underground equipment to commence higher levels of extraction From a financial perspective whilst the Profit and Loss statement is currently showing a loss, the company has developed further into the mine than any company since 1992 and has delivered significant value to shareholders in resource upgrades a revised prefeasibility study currently being reviewed by Geos mining and a scoping study on Talisman deeps. It is expected upon completion of the review and valuation the asset values will change considerably and will be adopted into the full accounts. The company's market capitalisation grew by over 30% during the year. Consolidated Statement of Comprehensive Income Reporting Period 31 March 2018 Previous Reporting Period 31 March 2017 $ $ Revenue 128,597 21,571 Total revenue 128,597 21,571 Audit fees 33,846 35,030 Capital Loss on Disposal of Investments - 284,361 Depreciation 23,084 2,549 Director fees 170,000 143,560 Foreign exchange loss/(gain) 10,274 17,946 Fair Value of Investments Movement (38,461) (385,693) Rent and leasing 24,248 19,454 Operating expenses 911,074 645,752 Total operating expenses 1,134,065 762,959 Loss from operations 1,005,468 741,388 Exploration Costs written off - 9,950 Other Comprehensive Income 8,137 - Net deficit attributable to members 997,331 751,338 Earnings per share Basic earnings/(loss) per share (0.05) cents (0.04) cents Diluted earnings/(loss) per share (0.05) cents (0.04) cents Consolidated Statement of Financial Position Reporting Period 31 March 2018 Reporting Period 31 March 2017 $ $ Cash 4,828,750 5,754,398 Receivables and prepayments 116,229 53,790 Advances to related parties - - Current assets 4,944,979 5,808,188 Property, plant & equipment 89,677 12,761 Assets Under Construction 9,638,268 7,843,882 Intangible assets (prospecting expenditure) 19,637 11,637 Investments 55,998 17,538 Non-current assets 9,803,580 7,885,818 Total assets 14,748,559 13,694,006 Payables 195,584 103,866 Other 20,618 49,973 Employee entitlements 21,330 30,147 Total Current liabilities 237,532 183,986 Total Non-Current liabilities 17,795 - Total liabilities 255,327 183,986 Capital 34,590,849 35,164,939 Reserves - 335,341 Retained profit/(loss) (20,097,617) (21,990,260) Total equity 14,493,232 13,510,020 Total Equity and Liabilities 14,493,232 13,694,006 Net tangible assets per security Net tangible assets 14,473,595 13,498,383 Net tangible assets per security 0.67 cent 0.80 cent Consolidated Statement of Cash Flows Reporting Period 31 March 2018 Reporting Period 31 March 2017 $ $ Cash flows relating to operating activities Cash inflows 128,597 16,231 Cash outflows (1,175,496) (839,006) Net operating cash flows (1,046,899) (822,775) Cash flows relating to investing activities Cash inflows - 293,684 Cash outflows (1,794,385) (579,339) Net investing cash flows (1,794,385) (285,655) Cash flows relating to financial activities Cash inflows 1,925,910 6,422,986 Cash outflows - - Net financing cash flows 1,925,910 6,422,986 Net increase/(decrease) in cash held (915,374) 5,314,556 Cash at beginning of period 5,754,398 456,181 Exchange rate gain/(loss) (10,274) (16,339) Cash at end of period 4,828,750 5,754,398 Consolidated Statement of Changes in Equity Reporting Period 31 March 2018 Reporting Period 31 March 2017 $ $ Equity at start of period 13,559,993 7,888,345 Net profit / (loss) (997,331) (701,365) Shares issued 1,925,910 6,373,013 Prior Period Adjustment 4,660 - Equity at end of period 14,493,232 13,559,993 These annual financial statements are subject to completion of the audit. No dividends or distributions were paid or are planned. All statements are prepared in accordance with New Zealand equivalents to International Financial Reporting Standards. There are no accounting policies which the directors believe are critical to the portrayal of New Talisman's financial condition and results which require the directors to make judgements and estimates about matters that are inherently uncertain. All accounting policies have been applied on bases consistent with those used in previous years. About New Talisman Gold Mines Ltd New Talisman Gold is a dual listed (NZX & ASX: NTL) leading New Zealand minerals development company with approximately 2,000 shareholders who are mainly from Australia and New Zealand. The company's flagship asset the Talisman mine holds a JORC compliant mineral resource, a JORC compliant reserve and has been granted resource consents and access arrangements for the initial phase of the project. The company is currently initiating bulk sampling at Talisman and continues to advance the development of the mine. New Talisman's wholly owned subsidiary Coromandel Gold Limited holds a portfolio of highly prospective mineral interests and gold properties in the Hauraki District of New Zealand. New Talisman Gold Mines Limited purchased an Australian subsidiary company which held the exploration permit for the Rahu tenement. New Talisman Gold Mines Limited now has control and direction over the mining activities relating to the Rahu tenement. More about New Talisman Gold at www.newtalisman.co.nz End CA:00318707 For:NTL Type:FLLYR Time:2018-05-30 15:44:38