Announcement PDF talismanmining.com.au Building momentum with the drill rig Closing-in on the next significant discovery in the Lachlan Fold Belt, NSW Resources Rising Stars Gold Coast Conference - May 2023 Focused Australian Mineral Resources Company Disclaimer This presentation has been prepared by Talisman Mining Limited. This document contains background information about Talisman Mining Ltd current at the date of this presentation. The presentation is in summary form, has not been independently verified and does not purport be all inclusive or complete nor does it contain all the information that a prospective investor may require in evaluating a possible investment in Talisman Mining Ltd or its assets. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation. This presentation is for information purposes only. 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Focused Australian Mineral Resources Company 2 Talisman Profile – Highly leveraged to exploration success ■ Highly prospective gold and base metal exploration portfolio: ➢ Central Lachlan Cu-Au Project Dandaloo Copper Project NSW Lachlan Orogen: Five projects covering ~6,200km2 in known mineralized areas ■ Multiple commodity opportunities ■ ➢ SA Gawler Craton# 1: Mabel Creek IOCG project covering ~1,000km2 in underexplored terrain ■ Proximal to operating world class mines - Tier-1 discovery potential ■ ■ Unique advantage in junior exploration space - income stream ➢ Hillston Cu-Au Project Elvis Porphyry Cu-Au Project Lucknow Gold Project Wonmunna Iron Ore Royalty 2: Uncapped 1% gross revenue royalty ■ Iron ore production commenced March 2021 ■ $13.6M in royalty receipts received to date ■ ■ Multiple field programs in progress and well funded (cash ~$9.7M*) ■ Experienced Board and Management with ownership (~20%) ■ Actively pursuing new Australian growth opportunities # Subject to acquisition completion * As at 31 March 2023 Focused Australian Mineral Resources Company 3 Corporate Overview Experienced Board and Management Capital Structure Kerry Harmanis - Non-Exec Chairman Shares on Issue Shaun Vokes Russ Gregory - Chief Executive Officer - Exploration Manager Unlisted Options (Exercise Prices: 20.1c – 31.0c) 12.7M Peter Benjamin - Non-Exec Director Market Capitalisation (Market Close 12-May-2023) A$32M Brian Dawes - Non-Exec Director Cash (31-Mar-2023) A$10M Jeremy Kirkwood - Non-Exec Director Debt 187.7M Nil Enterprise Value A$22M Shareholding (12 May 2023) Substantial Holders - Kerry Harmanis ~19% Top 20 holders ~35% Share Price Performance since Jun-22 Focused Australian Mineral Resources Company 4 Pathway to Discovery: Our Exploration methodology STAGED EXPLORATION PIPELINE FOCUSED, SYSTEMATIC, COST-EFFECTIVE EXPLORATION FEEDBACK Learnings from drilling results help to constrain next targeting. IDENTIFY 4 1 Conceptual targets and prospect areas identified from regional geophysics or geochemistry RESOURCE Resource definition program proving economic size and grade. TEST 3 2 Advance most prospective targets to drill testing. Mineralization followed up immediately. Focused Australian Mineral Resources Company DEFINE Drill targets defined and ranked using detailed geochemistry and targeted geophysics 5 NSW Lachlan Project Extensive and highly prospective gold and base metals tenure RC Drilling at the Bonzer VTEM anomaly, EL8680 Focused Australian Mineral Resources Company 6 Lachlan Project NSW – Proven mineralised area with significant metal endowment Regional geological interpretation ■ Mature mineral field, but bias of known regional mineralisation is to areas of residual exposure – implies that areas under cover have not been well explored to date ■ Mineralisation is structurally controlled and structure below cover is poorly understood ■ All significant deposits have a gravity anomaly related to structure or alteration (usually identified post-discovery) ■ Airborne electro-magnetic (AEM) surveys are a proven discovery tool with a history of significant recent success ■ Need to narrow the search space to identify robust exploration targets Cenozoic cover So, from an Exploration Methodology point of view, how have we progressed? Focused Australian Mineral Resources Company 7 Lachlan Project NSW – Focused, Systematic, Cost-effective Exploration Stage 1 - Identification ■ Developed a regional metallogenic framework and identified regional scale metallogenic corridors ■ Identified applicable mineral system models to drive mineral potential mapping ■ Undertaken large scale geological mapping and regolith geochemistry progams ■ Aim is to identify anomalies related to Cu-Au-Pb-Zn-Ag systems ■ Initial focus on the Central Lachlan Cu-Au Project ■ Completed two regional scale airborne geophysical surveys in the first half of 2022 3 : ➢ Falcon® Airborne Gravity Gradiometry (AGG) survey – ~15,500 line kms @ 200m spacing ➢ Targeted VTEM™ Max Airborne Electromagnetic (AEM) survey ~6,300 line kms @ 200m spacing Focused Australian Mineral Resources Company 8 Lachlan Project NSW – Focused, Systematic, Cost-effective Exploration Stage 2 - Definition Rip & Tear Prospect Stella & Carpina North Prospects ■ Interpretation of regional airborne geophysical surveys identified over 50 conductivity and gravity anomalies for follow-up 4 ■ 12 of these geophysical targets identified as drill ready and prioritised for drill testing 5 ■ 15 target areas identified as requiring additional ground geophysics - moving-loop electromagnetic (MLEM) and PoleDipole Induced Polarisation (PDIP) ■ 23 target areas identified as requiring additional geochemistry (utilising Talisman’s own auger rig) ■ Portable PPB technology purchased – allows low level gold detection from auger drilling samples within 8 hours using portable XRF analysis ➢ Permits rapid, field based, adaptive sampling where follow-up programs can be undertaken in days rather than months Durnings Prospect Focused Australian Mineral Resources Company 9 Lachlan Project NSW – Focused, Systematic, Cost-effective Exploration Stage 2 – Geophysics Generating Positive Results ■ Two discrete priority chargeable anomalies from Induced Polarisation (IP) surveys identified at the Stella Prospect (EL8571) 6 ■ Stella Prospect associated with historic high-grade copper workings ■ High chargeability values (up to 23 mV/V) compared with chargeability values of ~10-15 mV/V common at drill targets throughout the Cobar Basin ■ Additionally, two conductive plate models and a chargeable anomaly identified at the Rip & Tear Prospect (EL8615) ■ Drill testing of Stella Prospect planned for Q2 2023 and Rip and Tear Prospect in Q3 2023 Focused Australian Mineral Resources Company 10 Lachlan Project NSW – Focused, Systematic, Cost-effective Exploration Stage 3 – Drill Testing ■ 4,175m over 7 targets still to be drilled Program to be extended to include additional RC drilling at ✔ ■ ✔ ➢ ■ Rip & Tear Prospect Drilling completed 6,754m over 8 targets drilled ~3,182 samples submitted for multi-element analysis – 77% of assays returned to date ✔ Stella & Carpina North Prospects ➢ ■ ✔ ✔ ~11,000m RC drilling program testing priority geophysical targets commenced in late January 20235. To date: ➢ Stella and Rip and Tear Prospects ➢ Carpina North Gold Prospect ➢ Previous drilling intersected extensive low grade gold system ➢ CNRC0012 – 40m @ 0.51g/t Au from 24m downhole including 14m @ 0.85g/t Au from 44m downhole 7 Diamond drilling program to commence in June 2023 at Elaine Copper Prospect ✔ ✔ Durnings Prospect Focused Australian Mineral Resources Company 11 Lachlan Project NSW – Focused, Systematic, Cost-effective Exploration Stage 3 – Drilling Generating Positive Results Durnings (EL8680) ▪ ➢ Polymetallic opportunity along strike from Mineral Hill Mine – recent intersection of Au-Cu-Zn-Pb-Ag mineralization 8 ➢ Base and precious metal mineralisation seen to the end-ofhole, suggesting mineralisation continues at depth ➢ Encouraging base and precious metal intersections were also seen in extensional holes drilled to the north-east ➢ DRRC0001 8m @ 6.3 g/t Au, 0.77% Cu, 0.27% Pb, 0.36% Zn & 6.3g/t Ag from 82m, including 2m @ 17.5g/t Au, 1.4% Cu, 0.32% Pb, 0.36% Zn and 12.8g/t Ag from 88m 8 Focused Australian Mineral Resources Company 12 Lachlan Project NSW – Focused, Systematic, Cost-effective Exploration Stage 3 – Drilling Generating Positive Results Durnings (EL8680) ▪ ➢ Recent results suggests that the high-grade intercept forms part of a much larger mineralising system being the Kaolin Shaft – Durnings trend ➢ Further mineralization has been encountered stepping out under shallow cover from historically explored outcropping areas ➢ KSRRC0013 8m @ 0.75g/t Au and 8.5g/t Ag from 52m 8 ➢ Follow-up drilling currently being planned Focused Australian Mineral Resources Company 13 Mabel Creek Project SA – Exposure to Tier-1 deposit discovery potential Mabel Creek IOCG Project ■ 3 continuous Exploration Licences covering an area of 1,048km2 west of Coober Pedy ■ Area initially identified as part of the South Australian Government’s “Gawler Challenge” in 2020 ■ Highly prospective for IOCG and Gawler Craton-style gold mineralisation ■ No on-ground exploration activities in the area since 2014 Focused Australian Mineral Resources Company 14 Mabel Creek Project SA – Exposure to Tier-1 deposit discovery potential Mabel Creek IOCG Project ■ Tenure spans a major deep-seated east-west trending fault system – potentially host to intrusive lithologies including Hiltaba Granite Suite ■ Recent aeromagnetic data from the GSSA highlights demagnetised areas – suggestive of extensive alteration associated with the fault system ■ Post-mineral cover across tenure relatively shallow (30m to 150m) compared to other areas of the Gawler Craton Focused Australian Mineral Resources Company 15 Mabel Creek Project SA – Exposure to Tier-1 deposit discovery potential Mabel Creek IOCG Project ■ Project tenements surrounded by tenure held by major mineral companies – BHP/OZ, RIO, FMG ■ Regional presence of majors highlights the exploration opportunity for additional significant copper-gold discoveries in the Gawler Craton ■ Known copper-gold bearing IOCG deposits and exploration ground held by majors located along an arcuate “Prospective IOCG Corridor” ■ Project acquisition completion forecast for late Q2 2023 ■ Negotiate Native Title Land Access Agreement ■ On-ground activities (geophysics and diamond drilling) late 2023 or early 2024 Focused Australian Mineral Resources Company 16 Exploration Work Programs – Systematic exploration of new & existing targets ■ ■ ■ Concurrent workstreams in progress across our NSW Lachlan Project for the remainder of 2023 and into 2024 Initial generative work programs across several new targets ongoing with the aim of delivering drill ready anomalies Maiden work programs at the Mabel Creek Project in SA planned for late 2023/early 2024 Focused Australian Mineral Resources Company 17 Talisman – Creating the next multi billion-dollar minerals business All the right ingredients: ✔ Substantial highly prospective tenure across multiple projects in a Tier 1 jurisdiction ✔ Multiple commodity exposure ✔ Systematic and methodical exploration approach ✔ Multiple active on-ground exploration programs and an extensive pipeline of planned exploration activity ✔ Well Funded - ongoing royalty revenue stream + strong cash balance ✔ Focused and experienced team ✔ Actively reviewing additional growth opportunities in base and precious metals Focused Australian Mineral Resources Company 18 talismanmining.com.au Thank You For further information please contact: Mr Shaun Vokes CEO Mr Russ Gregory Exploration Manager Telephone: +61 8 9380 4230 Email: info@talismanmining.com.au Website: talismanmining.com.au Resources Rising Stars Gold Coast Conference May 2023 Focused Australian Mineral Resources Company 19 Appendix 1: Competent Persons’ Statements Exploration Results and Exploration Targets Information in this presentation that relates to Exploration Results an Exploration Targets is based on, and fairly represents information and supporting documentation complied by Mr Russ Gregory, who is a member of the Australasian Institute of Geoscientists. Mr Gregory is a full-time employee of Talisman Mining Ltd and has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Gregory has reviewed the contents of this presentation and consents to the inclusion in this presentation of all technical statements based on his information in the form and context in which they appear. No new information that is considered material is included in this document. All information relating to exploration results has been previously released to the market and is appropriately referenced in this document. JORC tables are not considered necessary to accompany this document. References: 1 Refer ASX Announcement dated 30 January 20223 for full details of tenement acquisition. 2 Refer ASX Announcements dated 17 February 2011, 30 October 2020, 15 April 2021, 30 July 2021, and 18 October 2021 for full details of the Wonmunna Iron Ore Royalty. 3 Refer ASX Announcements dated 17 January 2022, 30 March 2022, 26 July 2022 and 5 September 2022 for full details. 4 Refer ASX Announcement dated 16 November 2022 for full details. 5 Refer ASX Announcement dated 24 January 2023 for full details. 6 Refer ASX Announcement dated 8 May 2023 for full details. 7 Refer ASX Announcement dated 26 July 2022 for full details. 8 Refer ASX Announcement dated 15 May 2023 for full details. Focused Australian Mineral Resources Company 20