Announcement PDF 20 25 ANNUAL REPORT Corporate Directory Directors Mr Kerry Harmanis Non-Executive Chairman Mr Andrew Munckton Managing Director Mr Jeremy Kirkwood Non-Executive Director Mr Brian Dawes Non-Executive Director Mr Peter Benjamin Non-Executive Director Company Secretary Mr Alex Neuling Registered and Principal Office Ground Floor, Suite 1 33 Colin Street West Perth WA 6005 Telephone: +61 8 9380 4230 Website: www.talismanmining.com.au Auditors HLB Mann Judd Level 4, 130 Stirling Street Perth, Western Australia 6000 Telephone: +61 8 9227 7500 Share Registry MUFG Corporate Markets Level 12, QV1 Building 250 St Georges Terrace Perth WA 6000 Telephone: +61 8 9262 6700 Securities Exchange Listing Australian Securities Exchange Limited Level 40, Central Park 152-158 St Georges Terrace Perth, Western Australia 6000 ASX Code: TLM Table of Contents Letter from the Chairman 4 Review of Operations 6 Directors’ Report 20 Remuneration Report 25 Auditor’s Independence Declaration 33 Independent Auditor’s Report 34 Financial Statements 38 Notes to the Consolidated Financial Statements 42 Directors’ Declaration 64 Additional Securities Exchange Information 65 Letter from the Chairman Dear fellow Shareholder, Walkers Hill contains two distinct areas of gold mineralisation: I am pleased to present our 2025 Annual Report and to recap what has been a year of both challenge and opportunity for Talisman Mining. • Sheepyard, where historical RC drilling demonstrated the presence of broad zones of shallow gold mineralisation within an extensive gold-in-soil anomaly. A geophysical survey in 2023 revealed a strong chargeability anomaly below the historical drilling which has emerged as a compelling exploration target. As this Annual Report was being finalised, assays had been received and announced, with initial results indicating a large gold system with potential for higher grades which warrants follow up drilling. • Maroonbah, which includes the largest gold-in-soil anomaly in the district also contains historical RC drilling which intersected shallow gold mineralisation. New access agreements are being negotiated to allow geophysical surveys and follow-up exploration drilling to be undertaken during 2025 and 2026. While ongoing exploration activities across our 6,000km2 Lachlan Project in NSW have not yet delivered a commercial mineral discovery, the work undertaken during the year has laid important foundations for the future and identified new areas of promise. The Lachlan Fold Belt remains one of Australia’s premier exploration provinces, with recent discoveries further enhancing its reputation for hosting large-scale mineral systems and underpinning significant value creation – validating our strategic focus in this world-class district. During the year, we completed Reverse Circulation drilling at the Durnings Prospect to follow up the previous highgrade drill results and test step-out geophysical anomalies. The drilling intersected multiple zones of polymetallic mineralisation, confirming the presence of a large mineralised system and giving us an improved technical understanding of the broader district which has helped refine our exploration focus. Importantly, a comprehensive geological review undertaken across all our tenure in the Mineral Hill-Canbelego Volcanic Belt identified two new high-priority targets within the Walkers Hill geochemical trend, located just to the northwest of the Durnings area. We are looking forward to advancing this emerging gold opportunity at Walkers Hill, and to updating shareholders as further results come to hand. Elsewhere in our portfolio, we advanced exploration at the Yarindury and East Peak Hill Projects in the Macquarie Arc and completed a maiden drilling program at the Mabel Creek IOCG Project in South Australia. Each of these projects adds to a pipeline of opportunities that we believe has the potential to deliver meaningful outcomes over the medium to longer term. Talisman remains in a strong financial position, reflecting our disciplined approach to our exploration and corporate expenditure management. Throughout FY2025, our strong financial platform has again been underpinned by royalty income from the Wonmunna Iron Ore Mine, operated by Mineral Resources Limited. In the 12 months to 30 June 2025, we received $9.0 million in royalty payments. 4 I Talisman Mining Limited This ongoing revenue continues to provide Talisman with a unique level of financial strength and independence for a junior explorer, allowing us to pursue high-quality exploration in a sustainable manner. It has also given us the ability to judiciously review business development and growth opportunities. We reviewed several such opportunities during the year, although none satisfied the stringent criteria that we apply to screen projects and corporate M&A proposals. This business development and growth work is ongoing. As we look ahead, we remain focused on our core mission: to make one or more discoveries capable of delivering material shareholder value while minimising dilution to shareholders. While exploration is by its nature a high-risk endeavour, it is also one that can generate exceptional rewards. With a robust balance sheet, a pipeline of high-quality targets and an experienced team, Talisman is well positioned to seize opportunities in the year ahead. On behalf of the Board, I thank our shareholders for your continued support and patience as we pursue our goal of discovery and growth in the Australian mineral sector. Yours faithfully, Kerry Harmanis, Chairman Annual Report 2025 I 5 Review of Operations Overview During the 2025 Financial Year (FY2025), Talisman Mining Limited (Talisman or the Company) continued to progress multi-pronged exploration programs aimed at unlocking the discovery potential of its high-quality exploration asset base on the Eastern Seaboard of Australia. The Company’s exploration portfolio comprises: • The Lachlan Project, which spans the CanbelegoMineral Hill Volcanic Belt between Condobolin and Canbelego in NSW; • The Yarindury and East Peak Hills Projects, both located in the Macquarie Arc of NSW; and • The Mabel Creek IOCG Project, located in South Australia’s world-class Gawler Craton. Throughout the reporting period, the Company continued to receive monthly royalty payments from Mineral Resources Ltd (MinRes), the operator of the Wonmunna Mine, which forms part of MinRes’s Pilbara Hub Iron Ore Operations in the Pilbara region of Western Australia. MinRes commenced production from Wonmunna in March 2021 and Talisman is entitled to an uncapped 1% gross revenue royalty on all metals produced and sold from the mine. The Pilbara Hub delivered 9.7 million tonnes of iron ore shipping for the 12-month period ended 30 June 2025, with Talisman receiving $9.0 million in royalty payments from the Wonmunna Mine in the period. Wonmunna forms part of the ore supply to the Pilbara Hub. MinRes has estimated their Pilbara Hub Ore Reserves at 51Mt at 57.5% Fe and Mineral Resources of 161Mt at 57.0% Fe at 30 June 2025. The potential ongoing Wonmunna royalty revenue stream puts the Company in a unique funding position for a junior exploration company, allowing Talisman to pursue the systematic exploration of its asset portfolio, in combination with reviewing additional new metalliferous growth and strategic business development opportunities. 6 I Talisman Mining Limited Talisman holds a highly prospective exploration portfolio in the Lachlan Fold Belt region of NSW spanning approximately 6,000km2. The Company undertook Reverse Circulation (RC) drilling at the Lachlan Project in FY2025 to follow-up previous highgrade drill results at the Durnings prospect and test step-out geophysical anomalies. In addition, a detailed tenement-wide review was completed over the Lachlan Project, including regional geology, geochemistry and geophysics. This review identified two high-priority targets at the Sheepyard and Maroonbah Projects in the Walkers Hill gold geochemical trend, where follow-up exploration commenced subsequent to the end of the reporting period. At the Yarindury Project, located 30km west of Dubbo in NSW, an initial diamond hole was completed to test a large, high-amplitude magnetic geophysical anomaly. Results indicated that the anomaly sits deeper than initially modelled, with ground Induced Polarisation (IP) and Magnetotelluric (MT) geophysical surveys undertaken to screen key porphyry copper-gold prospective magnetic anomalies for new priority drill targets. In South Australia, Talisman undertook a 3-hole diamond drilling program targeting magnetic and gravity anomalies. A detailed assessment of the drilling results to vector towards prospective zones has commenced. Additional IOCG-style geophysical targets, south of the Horse Camp Fault, are also being reviewed for drill testing. Lachlan Project – NSW Talisman Mining’s 100%-owned Lachlan Project spans the Canbelego-Mineral Hill Volcanic Belt between Condobolin and Canbelego in New South Wales and is prospective for polymetallic epithermal and volcanic hosted (Cu, Pb, Zn, Au, Ag), orogenic (Au) and intrusion related (Cu, Au) deposits. Durnings The Durnings Prospect is located approximately 25km north of Condobolin and 35km south-east of the Rip N Tear discovery within the Lachlan Project area. Durnings is a lightly explored project defined by strongly anomalous base metal soil geochemistry, and contains two large, coherent conductive Gradient Array Induced Polarisation (GAIP) chargeability anomalies located along strike from and to the east of previous RC drilling results returned from earlier exploration by Talisman Mining (see ASX announcement 15 May 2023). The prospect is situated within a complex structural setting associated with NNW trending faults interpreted to be part of the Mineral Hill Fault Zone, which provides a pathway for mineralised fluids to move upwards from deeper local granite intrusions. Talisman completed a 2,540m, 6-hole Reverse Circulation (RC) and diamond drill program at the Durnings Prospect in January 2025, with all holes intersecting target zones within the polymetallic FIGURE 1 Talisman’s Lachlan Project, which covers the Mineral Hill-Canbelego Volcanic Belt (MHCVB), shown on a regional TMI Airborne Magnetic image. High-grade base metals and copper-gold deposits in the belt include CSA, Peak, Hera, Federation and Mineral Hill. Other Talisman tenure in the area (to the east and south-east of Cobar and north of Condobolin) is also shown. mineralised system. Assay results included1: Base Metals Zone Copper-Gold Zone • • DRDD0027 – 1.9m at 2.9g/t Au, 0.80% Cu, 1.09% Pb+Zn and 9.33g/t Ag from 442m down-hole. • DRRCD0028 – 14.5m 0.31g/t Au, 0.31 g/t Ag, 0.12 % Cu from 487.7m down-hole. • DRDD0029 – 28m at 0.32g/t Au, 0.07% Cu, 0.27% Pb+Zn 1.06g/t Ag from 156m and 17m at 0.38g/t Au, 0.22% Cu, 0.18% Pb+Zn, 1.47g/t Ag from 192m down-hole. • DRDD0030 – 9m at 0.04g/t Au, 0.01% Cu, 2.37% Pb+Zn, 3.46g/t Ag from 144m down-hole including 1.2m at 0.13g/t Au, 0.09% Cu, 9.91% Pb+Zn and 9.3g/t Ag from 151m down-hole. • 1 DRDD0025 – 2.46m at 6.2% Pb+Zn, 6.8g/t Ag, 0.01% Cu from 297m down-hole and 6.48m at 2.6% Pb+Zn, 4.3g/t Ag, 0.01% Cu and 0.04g/t Au from 283.52m down-hole. DRDD0026 – 1.9m at 3.56% Pb+Zn, 13.9g/t Ag, 0.43% Cu and 0.22g/t Au from 272m down-hole. ASX: TLM - See ASX Announcement dated 28 January 2025. Annual Report 2025 I 7 FIGURE 2 Durnings Prospect showing Offset PDIP Survey chargeability (LHS) and resistivity (RHS) at 260m below surface. The chargeability and resistivity responses in the images correspond to the position of the intersection of the Copper-Gold Mineralised Trend and the Base Metals Mineralised Trend at Durnings. Note the position of drill holes DRDD0025, DRDD0026, DRRCD0027, DRRCD0028, DRDD0029 and DRDD0030 drilled to test the mineralisation perpendicular to the trend interpreted from geophysics. DRRCD0025 and DRDD0026 intersected the galenasphalerite-silver rich horizon approximately 50 metres down-dip of the strong base metal intercepts in the discovery hole DRRCD0006 and DRRCD0019 (Figure 2). Holes DRDD0027 and DRRCD0028, drilled up and down-dip of a chalcopyrite-gold rich zone discovered by DRCCD0019, intersected narrow high-grade intervals extending the mineralised copper-gold zone both up- and down-dip (Figure 3). Holes DRDD0029 and DRDD0030 targeted the Durnings North copper-gold zone. DRDD0029 and DRDD0030 intersected broad zones of low-grade mineralisation with narrower high-grade lenses along strike and down-dip from the discovery hole DRRC0001 and DRRCD0023 (Figure 4). Detailed geological and structural analysis of the highergrade mineralisation within the broader low-grade northeast trending mineralised zones has been undertaken to identify further extensions capable of hosting potentially economic mineralisation. Durnings East At Durnings East, a 3,114m, 16-hole program of broadspaced RC drilling was completed to test Gradient Array Induced Polarisation (GAIP) geophysical anomalies located approximately 1km north north-east of the Durnings mineralised positions. The drilling confirmed that the near-surface GAIP anomalies were the result of pyrite alteration and that only minor mineralised intersections were returned from the assay results. No further work is planned at the Durnings East prospect. Geological Review A comprehensive geological, geochemical and geophysical review was completed across all TLM Mineral Hill-Canbelego Volcanic Belt (MHCVB) tenure during the June 2025 Quarter. The review identified two high-priority targets within the Walkers Hill gold geochemical trend (Figure 1), where initial Reverse Circulation (RC) drilling commenced in July 2025. The review also identified multiple untested areas of soil/ regolith within prospective parts of the MHCVB that require geochemical in-fill sampling (Geochemical Gaps) (Figure 5). A 1,600-hole auger program is also planned to target these areas. 8 I Talisman Mining Limited FIGURE 3 FIGURE Durnings South cross section B-B’ refer Figure 2. 4 Durnings North cross Section A-A’ refer Figure 2. FIGURE 5 Lachlan Project’s southern tenements area with geology and gold-in-soil geochemistry shown. The Walkers Hill geochemical trend (highlighted) is the largest and most coherent soil geochemical anomaly in the area spanning approximately 10km by 2.5km, which contains the Maroonbah and Sheepyard targets. Geochemical gaps across prospective trend of the Mineral Hill-Canbelego Volcanic Belt (MHCVB) are also highlighted. Annual Report 2025 I 9 Walkers Hill The Walkers Hill geochemical trend, the largest in the district, comprises an extensive gold-in-soil anomaly, of approximately 10km by 2.5km of which approximately 4.5km is within Talisman tenement EL 8571 (see Figure 5 and Figure 6). Several stages of exploration have been undertaken since 2000 by Triako Exploration, Paradigm Resources and Talisman Mining to advance the understanding of this high-priority geochemical trend. • • Historical exploration results within the Walkers Hill trend include2: 1,250 soils taken at the Sheepyard and Maroonbah Targets between 2003 and 2008. These results show distinct coherent soil anomalies for Au (>20ppb) and As (>150ppm). See Figure 6. • FIGURE 6 2 RC drilling: ▪ 40m at 0.46g/t Au from 3m (PMV005) and 12m at 0.38g/t Au (TMY027) from surface at Sheepyard. ▪ 20m at 0.48g/t Au from 16m (TBC015) and 5m @ 0.54g/t Au from 14m (TBC016) at Maroonbah. ▪ All mineralised holes ended in oxide and drilling was limited to 60m below surface. Pole Dipole Induced Polarisation (PDIP) geophysical survey completed by Talisman in 2023 revealed a chargeability anomaly below mineralised RC drill intercepts at the Sheepyard target (Figure 7). Sheepyard target within the Walkers Hill geochemical gold trend. Coherent gold and arsenic-in-soil anomaly with location of TLM PDIP lines, historic drilling and recent TLM RC holes. See ASX Announcement dated 17 June and 9 September 2025 for full details of drilling results 10 I Talisman Mining Limited Sheepyard target PDIP section 10200 within the Walkers Hill geochemical gold trend. The large IP chargeability anomaly sits below a significant, coherent gold and arsenic-in-soil anomaly and below intercepts of 42m at 0.44g/t Au from 4m in SYRC003 in shallow RC drilling. Talisman’s initial RC drilling program confirmed mineralised intersections such as 16m at 0.38g/t Au from 124m in SYRC0002 coincident with the IP anomaly. For drill hole locations and section position see Figure 6. FIGURE 7 Talisman commenced RC drilling at the Sheepyard Target in late July and completed 857m of RC drilling in 5 holes to a maximum depth of 200m deep testing the large PDIP anomaly situated below historical anomalous drill intercepts (see Figure 7) including 40m at 0.46g/t Au within the oxide zone of hole PMV005. RC drill results in this initial drilling include: • • SYRC0001 ▪ 10m at 0.36g/t Au from 22m; and ▪ 41m at 0.29g/t Au from162m SYRC0002 ▪ • SYRC0003 ▪ • 16m at 0.38g/t Au from 124m, including 4m at 0.99 g/t Au 42m at 0.44g/t Au from 4m, including 8m at 0.85g/t Au SYRC0004 ▪ 24m at 0.58g/t Au from 124m, including 14m at 0.86g/t Au On ground mapping and geological logging of samples from the recent RC drilling indicates shallow gold mineralisation within the Ordovician-age Girilambone metasediments is associated with thin quartz veining interpreted to be in broad north-east trending structural positions (Figure 6). Deeper gold mineralisation encountered in holes SYRC0001, SYRC0002 and SYRC0004 is associated with thin quartz veining and disseminated pyrite mineralisation, which is coincident with the position of the PDIP conductor. Both the shallow and deeper gold mineralisation is anomalous in arsenic, antimony and tungsten, in line with typical orogenic-style gold sulphide mineralisation. Several other mineralised trends have been identified within the Sheepyard gold-in-soil anomaly which warrant follow-up to test the grade of mineralisation in the near-surface environment and whether this near surface mineralisation can be extended into deeper mineralised positions. Sheepyard is part of a larger, Walkers Hill Project gold-in-soil trend along a major geological contact which stretches for over 4.0km to the north-west of the recent drilling (Figure 6). Further ground geophysical surveying at Sheepyard is planned to identify near surface, potentially high-grade locations for further testing in the December 2025 quarter. In addition, access to the Maroonbah tenure is expected in the December quarter to allow a systematic assessment of this large geochemical target and further reconnaissance of the Walkers Hill gold trend will commence with the objective of undertaking further drilling in the December 2025 Quarter. Annual Report 2025 I 11 Macquarie Arc Projects – NSW Yarindury Porphyry Copper-Gold Project, NSW Talisman was granted a new tenement, EL 9679 – named the “Yarindury Project” – during the reporting period. Yarindury is located 30km north-east of Dubbo within the Molong Volcanic Belt, which forms part of the Macquarie Volcanic Arc in central-western NSW. The tenement lies along the same prospective corridor as Alkane Resources’ (ASX: ALK) Boda–Kaiser Project, 20km to the south-east, and Newmont’s (NYSE: NEM) worldclass Cadia copper-gold mine, located 100km along strike to the south (Figure 8). Initial diamond drilling at Yarindury targeted buried, largescale geophysical anomalies. The first diamond drill-hole, YRMRDD0001, was completed to a depth of 562.7m. The hole intersected the overlying Surat Basin sediments for its entire length before being terminated, indicating that the underlying basement rocks containing the magnetic anomaly target lies deeper. Talisman’s planned exploration program at Yarindury over the first half of FY2026 includes a three-line, 13km long, IP (Induced Polarisation) and MT (Magnetotelluric) ground geophysical survey, which commenced in July 2025. The survey is targeting prominent magnetic anomalies in the south-eastern portion of the tenement, where historical drilling indicates basement depths of approximately 200m. Drill testing of targets generated from this survey is planned (Figure 9). FIGURE 8 FIGURE 9 12 I Talisman Mining Limited Molong Volcanic Belt, part of the Macquarie Volcanic Arc in centralwestern NSW. Regional magnetic (RTP) image with key deposits and TLM Tenement EL 9679 “Yarindury”. Yarindury Project area on magnetic image (RTP). Planned Ground geophysical IP (Induced Polarisation) and MT (Magnetotelluric) Survey line locations are illustrated. East Peak Hill (EL 9395) EL 9395 is located in the central western NSW zone on the Junee–Narromine Volcanic Belt (JNVB) of the Macquarie Volcanic Arc. The JNVB extends over 200km north–south and its northern portion hosts Alkane Resources’ (ASX: ALK) Tomingley Gold Mine (shear hosted vein deposits) and the Peak Hill highsulphidation-epithermal gold deposit. The EL is situated immediately south-east of the Tomingley gold mine. Talisman interprets East Peak Hill to be highly prospective for orogenic shear-hosted vein style gold mineralisation, high-sulphidation vein-style gold and porphyry style copper-gold mineralisation. The East Peak Hill Project contains interpreted andesitic volcanic units striking north-south along the length of the tenement (Figure 10). An initial scout 150-hole auger survey commenced in May 2025, targeting areas of shallow to moderate cover. Any material copper or gold anomalies identified by the survey will be followed up by AC or RC drilling (Figure 11). FIGURE Talisman Exploration Licences across the Junee-Narromine Volcanic Belt. The northern block located adjacent to the Tomingley Gold Mine is the East Peak Hill (EL 9395) project area. Additional TLM tenure is also shown. FIGURE EL 9395 with location of initial 150-hole auger program in broadly spaced lines targeted above interpreted N-S striking andesite units. Additional Auger drilling and RC drilling will be caried out depending on results. 10 11 Annual Report 2025 I 13 Gawler Craton – South Australia Mabel Creek IOCG Project Talisman acquired 100% ownership of the Mabel Creek IOCG Project in June 2023, securing a 1,048km² landholding approximately 30km west of Coober Pedy. The project is located over the post mineral covered parts of the Northern Gawler Craton, spanning the Nawa Domain and Mount Woods-Coober Pedy Ridge Complex. These geological domains are separated by a major east– west trending structural corridor known as the Karari Shear and Horse Camp Fault (Figure 12). The Gawler Craton is highly prospective for large-scale Iron Oxide Copper Gold (IOCG) systems and hosts worldclass deposits such as Olympic Dam, Carrapateena and Prominent Hill, as well as recent discoveries including Oak Dam and Emmie Bluff. Following a detailed ground gravity survey completed in 20243, Talisman conducted an initial diamond drilling program in March-April 20254. Three holes (MCMRD001– MCMRD003), totalling 1,367m, were completed which tested near-coincident magnetic and gravity anomalies under post mineral cover, in the Nawa Domain north of the Horse Camp Fault (Figure 13 and Figure 14). FIGURE 12 Basement rocks were intersected at expected depths of between 205m to 305m. Diamond drilling intersected a suite of metamorphic lithologies including granite gneiss, pegmatitic granite, amphibolite and calc-silicate rocks, with variable levels of hydrothermal alteration observed in most holes. The results from hole MCMRD002, which tested anomaly P2 adjacent to the Horse Camp Fault, were encouraging. This hole intersected a broad hydrothermal alteration zone with elevated molybdenum (Mo) and rare earth elements (REE). The significance of this zone as a potential vector toward IOCG mineralisation is being assessed further via detailed geochemical, petrological and geochronological studies. The tenure remains prospective for IOCG-style mineralisation. Following a review of the data, the area south of the Horse Camp Fault with likely shallow post mineral cover, has been identified as an exploration priority where several nearcoincident magnetic and gravity anomalies are located within the Mt Woods-Coober Pedy Ridge Complex. A second phase of exploration drilling is planned. Ongoing geophysical modelling, incorporating insights from the initial drilling is underway to refine target drill hole locations. Simplified regional geology of the northern Gawler Craton showing Mabel Creek project area, major structural geological features and mineral deposits. 3 ASX: TLM – See ASX Announcement dated 30 October 2024. 4 ASX: TLM – See ASX Announcement dated 17 June 2025 for full details of assay results. 14 I Talisman Mining Limited FIGURE Mabel Creek tenure over processed magnetic (RTP) target images. Targets P1 to P4 sit adjacent to Nawa domain rocks north of the interpreted E-W oriented Horse Camp Fault zone. FIGURE Mabel Creek tenure over processed gravity target images. Targets P1 to P4 sit adjacent to Nawa domain rocks north of the interpreted E-W oriented Horse Camp Fault zone. 13 14 Annual Report 2025 I 15 Competent Persons’ Statement Forward-Looking Statements Information in this report that relates to Exploration Results and Exploration Targets is based on information completed by Mr Tim Sharp, who is a member of the Australasian Institute of Geoscientists. Mr Sharp is a full-time employee of Talisman Mining Limited 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 “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Sharp consents to the inclusion in this report of the matters based on information in the form and context in which it appears. This report may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Talisman Mining Limited’s current expectations, estimates and assumptions about the industry in which Talisman Mining Limited operates, and beliefs and assumptions regarding Talisman Mining Limited’s future performance. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “potential” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are only predictions and are not guaranteed, and they are subject to known and unknown risks, uncertainties and assumptions, some of which are outside the control of Talisman Mining Limited. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this report speak only at the date of issue of this report. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Talisman Mining Limited does not undertake any obligation to update or revise any information or any of the forward looking statements in this report or any changes in events, conditions or circumstances on which any such forward looking statement is based. 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. 16 I Talisman Mining Limited Tenement Schedule As at the date of this report Project /Tenement Tenement Status Area Talisman Equity (%) Expiry Date Joint Venture Partner CENTRAL LACHLAN PROJECT | New South Wales EL8615 726 km2 Granted 100% 07-07-29 EL8659 373 km 2 Granted 100% 18-10-27 EL8677 193 km2 Granted 100% 08-12-29 EL8414 174 km2 Granted 89.5% 02-12-30 EL8547 205 km 2 Granted 100% 03-04-28 EL8571 258 km 2 Granted 100% 23-05-31 EL8658 256 km2 Granted 100% 13-10-28 EL8680 20 km2 Granted 100% 08-12-28 EL8719 191 km 2 Granted 100% 27-03-30 EL9298 440 km 2 Granted 100% 30-09-27 EL9299 199 km2 Granted 100% 30-09-27 EL9302 108 km2 Granted 100% 13-10-27 EL9306 327 km 2 Granted 100% 30-09-27 EL9315 103 km2 Granted 100% 27-10-27 EL9379 878 km2 Granted 100% 28-03-28 EL9462 6 km Granted 100% 14-09-28 EL9630 361 km 2 Granted 100% 22-02-30 EL9678 343 km2 Granted 100% 15-07-30 EL8977 463 km2 Granted 100% 11-05-27 EL9395 75 km2 Granted 100% 21-04-25* EL9396 229 km 2 Granted 100% 21-04-25* EL9679 180 km2 Granted 100% 15-07-30 EL8907 1,043 km2 Granted 100% 31-10-25 EL9394 399 km2 Granted 100% 21-04-28 EL9701 227 km 2 Granted 100% 18-09-30 EL9702 317 km2 Granted 100% 18-09-30 2 Peel Mining Ltd MACQUARIE PROJECT | New South Wales HILLSTON PROJECT | New South Wales LUCKNOW PROJECT | New South Wales EL6455 29 km2 EL6619 Granted 51% 10-08-26 Lucknow Gold Ltd MABEL CREEK PROJECT | South Australia 519 km 2 Granted 100% 18-07-27 EL6620 319 km 2 Granted 100% 18-07-27 EL6627 210 km 2 Granted 100% 13-08-27 *Renewal applications are pending as at the date of this report. Annual Report 2025 I 17 Operating and Financial Risks The Group’s activities have inherent risk and the Board is unable to provide certainty of the expected results of activities, or that any or all of the act