Trillbar

Text Box: Talisman Mining Ltd 80% - Murchison Resources Pty Ltd 20% Iron Reconnaissance outcrop sampling of Banded Iron Formations (BIF) was completed to determine the potential of the area for economic iron mineralisation. Two BIFs were identified at the Seabrook (SIF) and Northern Iron Formation (SIF) prospects - Figure 1: Trillbar Project—Iron Outcrop Sampling. The SIF reported predominantly low-grade (<40% iron) with rare occurrences to 59.66% iron. Conversely, the NIF Appears to comprise almost pure massive hematite averaging (3 samples) 68.12% iron. A gravity survey is in progress with the object of defining, in this poorly outcropping formation, targets for follow up drill evaluation. The NIF prospect is considered to have excellent potential for the definition of a significant high-grade iron resource. Gold The Trillbar Gold Project, situated in the Peak Hill goldfield, Western Australia, has potential for definition of a substantial gold resource similar to that at the nearby Fortnum area, 60km to the northeast. Work completed to date has expanded the existing gold resource at the Boundary prospect, located high-grade gold mineralisation at Winja, and defined numerous drill ready targets possibly indicating further Boundary or Winja –type gold mineralisations. BOUNDARY PROSPECT Completion of several RC drilling campaigns has defined mineralisation at the Main Lode at Boundary to a vertical depth of approximately 100 metres. The lode remains open below this depth with the deepest Main Lode intercept in drillhole TRC037 returning 35m @ 1.57g/t gold (104 -139m, end of hole), including 7m @ 4.75g/t gold. Prior to Talisman gaining title to the project area, the Boundary prospect had an identified resource of 314,000t @ 2.2g/t gold (22,200ozs). Drilling subsequently completed by Talisman has allowed for a resource recalculation, defining a JORC-compliant inferred resource, as detailed below: Using 0.5g/t lower cut – 18g/t upper cut: 989,020 tonnes @ 1.57g/t Au (49,909ozs) Using 1.0g/t lower cut – 18g/t upper cut: Inferred 423,098 tonnes @ 2.55g/t Au (34,670ozs) These resource recalculations represent 125% and 56% increases, respectively, on the inherited gold resource of 50,000ozs gold. The smaller Boda and Mosquito Lodes along strike of the Main Lode to the east and west respectively remain poorly evaluated by drilling - Figure 2 : Trillbar Project, Boundary Long Section. As the Boundary Main Lode has been adequately defined near surface, further work on the Boundary prospect has subsequently been suspended in order to concentrate on evaluation of the numerous other gold prospects within the project area. WINJA PROSPECT Initial RC drill evaluation of the Winja prospect in the confirmed the occurrence of significant gold mineralisation initially indicated by drilling completed by a previous explorer. Further follow up RC drilling completed in two subsequent brief campaigns has confirmed and strongly enhanced the gold potential of this prospect with intercepts to 29m @ 5.2g/t gold - Figure 3 : Winja Section 578760E. Initial drill evaluation of the Winja prospect has indicated a robust gold mineralised system with ore-grade and width intercepts. The mineralisation remains open to both the east and west and at depth. RECONNAISSANCE Completion of reconnaissance aircore drilling on 400m x 40m centres, predominantly to the west of Boundary and east and west of Winja, in combination with RAB drilling previously completed by Sons of Gwalia Ltd to the east, has defined numerous new gold anomalies of similar size and structural setting to the original Boundary anomaly - Figure 4 : Trillbar Project Aircore Geochemistry. Eluvial gold has been located by metal detecting at four of these anomalies – Mosleys, Jules, Hilltop, VHF. It is significant to note that in excess of 70% of the defined ‘gold corridor’ remains untested by any form of geochemistry.

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Trillbar Project

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