PILOT PLANT UPDATE

Metallurgical testwork underway The Board of New Talisman Gold Mines Limited is delighted to announce that commissioning of the pilot processing facility, following grant of resource consent in early July, is now complete and processing of the high grade samples taken from the Talisman Mine has begun. The first gold concentrate has been produced and samples of tailings have been sent off for assaying as the plant is tuned to the optimal recovery rate. The components that make up the plant are functioning well, the mill is consistently achieving the desired grind size and good separation of metals and gangue minerals through the concentrator and shaker table is being achieved. While much work remains on optimizing the performance of the plant and assessing whether target recovery rates will be achieved, this is a significant step for the company on the path of developing the Talisman Mine. This plant is a scale model of the envisaged commercial facility and seeks to replicate the output from testwork carried out in South Africa in early 2018 which indicated that economic recovery of precious metals can be achieved through a gravity only circuit without the use of any harmful chemicals such as cyanide. The resultant tailings will be inert and can be disposed of in a number of ways without any environmental consequences. CEO Matthew Hill said "We are very pleased with the progress at the pilot plant with the first small volumes of gold concentrate being produced from the Talisman Mine which have now been sent off for assaying. Once optimal recovery rates are achieved processing of larger samples and design of a larger volume plant can commence" End CA:00338193 For:NTL Type:MKTUPDTE Time:2019-07-26 11:00:39