Announcement PDF 603 page 1/2 15 July 2001 Form 603 Corporations Act 2001 Section 671B Notice of initial substantial holder To Company Name/Scheme TALISMAN MINING LTD ACN/ARSN 079 536 495 1. Details of substantial holder (1) Name SEE ANNEXURE 'A' ATTACHED TO THIS FORM ACN/ARSN (if applicable) The holder became a substantial holder on 17 / 03 / 2016 2. Details of voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows: Class of securities (4) Number of securities Person's votes (5) Voting power (6) SEE ANNEXURE 'B' 11,111,111 11,111,111 5.98% 3. Details of relevant interests The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows: Holder of relevant interest Nature of relevant interest (7) Class and number of securities SEE ANNEXURE 'B' 4. Details of present registered holders The persons registered as holders of the securities referred to in paragraph 3 above are as follows: Holder of relevant interest Registered holder of securities Person entitled to be registered as holder (8) Class and number of securities SEE ANNEXURE 'B' 5. Consideration The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows: Holder of relevant interest Date of acquisition Consideration (9) Cash SEE ANNEXURE 'C' Class and number of securities Non-cash 603 page 2/2 15 July 2001 6. Associates The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows: Name and ACN/ARSN (if applicable) Nature of association SEE ANNEXURE 'B' 7. Addresses The addresses of persons named in this form are as follows: Name Address SEE ANNEXURE 'D' Signature print name Christina Seppelt sign here capacity date 21 Company Secretary / 03 / 2016 DIRECTIONS (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form. (2) See the definition of "associate" in section 9 of the Corporations Act 2001. (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. (4) The voting shares of a company constitute one class unless divided into separate classes. (5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in. (6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. (7) Include details of: (a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies). See the definition of "relevant agreement" in section 9 of the Corporations Act 2001. (8) If the substantial holder is unable to determine the identity of the person ( eg. if the relevant interest arises because of an option) write "unknown". (9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired. HUNTER HALL INVESTMENT MANAGEMENT LTD (A.C.N. 063 081 612) ANNEXURES TO FORM 603 TALISMAN MINING LTD ANNEXURE A: Hunter Hall Investment Management Limited (A.C.N. 063 081 612) Hunter Hall International Limited (A.C.N. 059 300 426) Hunter Hall Global Value Limited (A.C.N. 107 462 966) Hampshire Assets & Services Pty Ltd (A.C.N. 059 790 395) Aubigny Investments Pty Limited (A.C.N. 156 613 026), Zeppelin Investments Pty Ltd (A.C.N. 122 550 369) and Peter James Hall ANNEXURE B: Holder of Person registered and Relevant entitled to be Interest Registered as Holder Hunter Hall JP Morgan Chase Bank, Investment N.A. as the Custodian Management of the Hunter Hall Ltd Value Growth Trust, Hunter Hall High Conviction Equities Trust, and Hunter Hall Global Value Limited Hunter Hall International Limited As above Hampshire Assets & Services Pty Ltd, Aubigny Investments Pty Limited, Zeppelin Investments Pty Ltd and Peter James Hall (Hampshire Associates) Hunter Hall Global Value Limited As above As above Nature of relevant Interest Class and Number of Shares Hunter Hall Investment Management Limited has the power to control the vote attached to the securities, and the power to exercise control over the disposal of securities as:  Responsible Entity for the Hunter Hall Value Growth Trust (6,931,221 ORD), Hunter Hall High Conviction Equities Trust, (285,980 ORD) and  Investment Manager for Hunter Hall Global Value Limited (3,893,910 ORD) Hunter Hall International Ltd has a relevant interest in the said securities, as it wholly owns Hunter Hall Investment Management Limited. The Hampshire Associates has a relevant interest in the said securities as they hold approximately 44.38% of issued securities in Hunter Hall International Ltd. Hampshire Assets & Services Pty Limited, Aubigny Investments Pty Limited and Zeppelin Investments Pty Ltd are controlled by Peter James Hall. 11,111,111 ORD Hunter Hall Global Value Limited is managed pursuant to an investment management agreement by Hunter Hall Investment Management Ltd. (3,893,910 ORD) 3,893,910 ORD As above As above ANNEXURE C: Person whose relevant interest changed: Hunter Hall Investment Management Limited Hunter Hall International Limited Hunter Hall Global Value Limited Hampshire Assets and Services Pty Ltd, Aubigny Investments Pty Limited, Zeppelin Investments Pty Ltd and Peter James Hall Peter James Hall Date of Change Nature of Change No. of Shares Affected Consideration Given in Relation to Change AUD 17-Mar-16 BUY 285,980.00 17-Mar-16 BUY 3,893,910.00 17-Mar-16 BUY 6,931,221.00 Balance held as at 17th March 2016 % held as at 17th March 2016 based on shares on issue 185,699,900 Opening Balance: 128,691.00 1,752,259.50 3,119,049.45 Cumulative 0 285,980 4,179,890 11,111,111 11,111,111 5.98 % ANNEXURE D: NAME Hunter Hall International Limited Hunter Hall Investment Management Limited Hunter Hall Global Value Limited Hampshire Associates ADDRESS Level 2, 56 Pitt Street SYDNEY NSW 2000 Level 2, 56 Pitt Street SYDNEY NSW 2000 Level 2, 56 Pitt Street SYDNEY NSW 2000 Level 2, 56 Pitt Street SYDNEY NSW 2000 These 2 pages comprise the Annexures A to D referred to in the Form, Notice of Initial Substantial Holder. Christina Seppelt Company Secretary Dated 21/03/2016