NTL Covid-19 Update

To all Shareholders, COVID-19 is impacting all companies in New Zealand and throughout the world in all sectors. The New Zealand Government has implemented a number of measures to manage and minimize the adverse impacts of the virus on the health system, the economy and the social fabric of the country. COVID-19 mandated directives adversely affect the Company and our operations, as is the case with all mining, oil and gas and exploration companies operating in New Zealand and globally. New Talisman Shareholders have been asking how the Company is dealing with the current State of Emergency, how our operations are impacted and what you can expect in the immediate and near term from your Company. New Zealand is currently under Alert Level 4 and hopes to move to Alert Level 3 soon. Management wanted to gain some insight into the ramifications of going to Alert Level 3 on our operations in the near term before writing to you. For further information about the NZ Government Alert levels please go to https://covid19.govt.nz/alert-system/ Operationally, we had, as advised in last quarter, reduced underground extraction operations to focus on finalising the process route at the pilot plant to provide the technical information to allow completion of the design for the larger plant and its construction. We expect most of this sampling work can resume at Alert Level 3. While there has been some adjusting to the remote work environment, initial progress has been made in the preparation of the resource consent application for a full mining. The grant of this will allow mining for the full 15 year mine life post bulk sampling. The Company has engaged a number of specialists and independent experts to assist in this application. At site, underground operations have ceased in the short term and sampling underground at Mystery has been deferred for the immediate and near term. Moving forward, our staff and contractors are now all working remotely from various locations around New Zealand on aspects of the plant and full mining resource consent application. As you would be aware the resource estimate review by AMC was due to be delivered Q1 2020, however the impact of COVID-19 has delayed the delivery of the final JORC 2012 review. We now expect this to be delivered by the end of April 2020. Whilst the Covid 19 restrictions affect the ability to conduct underground operations the focus remains on finalising the pathway for ore processing through a gravity plant and the task of preparing the application for the consenting of the Talisman mine for full mining. A complete update on progress over the quarter and further measures taken by the Company will be provided in the upcoming quarterly report due out on April 30. For any queries shareholders should contact Matthew Hill via email at: matt@newtalisman.co.nz. Matthew Hill Chief Executive Officer New Talisman Gold Mines Limited matt@newtalisman.co.nz End CA:00351851 For:NTL Type:MKTUPDTE Time:2020-04-17 14:19:58