Announcement PDF Investor Presentation September 2015 Building Opportunity and Diversity in Copper and Nickel Disclaimer and Competent Person’s Statements Disclaimer This presentation is not a prospectus nor an offer for securities in any jurisdiction nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions in connection with any acquisition of securities, investors should rely on their own examination of Talisman Mining Ltd (Talisman Mining or the Company) and consult their own legal, business and/or financial advisers. The information contained in this presentation has been prepared in good faith by Talisman Mining Ltd, however no representation or warranty expressed or implied is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in this presentation. To the maximum extent permitted by law, Talisman Mining Ltd, its directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person through the use or reliance on anything contained in or omitted from this presentation. Certain information in this presentation refers to the intentions of Talisman Mining Ltd , but these are not intended to be forecasts, forward looking statements or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future are subject to risks, uncertainties and other factors that may cause Talisman Mining Ltd’s actual results, performance or achievements to differ from those referred to in this presentation. Accordingly, Talisman Mining Ltd, its directors, officers, employees and agents do not give any assurance or guarantee that the occurrence of the events referred to in the presentation will actually occur as contemplated. Competent Person’s Statement Information in this presentation that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Graham Leaver, who is a member of the Australasian Institute of Geoscientists. Mr Leaver is a full time employee of Talisman Mining Ltd and has sufficient experience which is relevant to the style of mineralisation and types of deposit 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 Mineral Resources and Ore Reserves”. Mr Leaver consents to the inclusion in this presentation of the matters based on information in the form and context in which it appears. 2 Corporate Background & Overview • Strong culture & corporate philosophy derived from prior employment with highly successful mid-tier companies • Key outcome being that focus is always on developing and executing strategies to build shareholder value • Experienced in managing rapid growth & the evolution from discovery through development to operations Capital Structure Shares on Issue 148.6M Unlisted Options 6.4M Market Cap (40.5c) ~$60M Cash (31 Aug 2015) ~$11M Key Shareholders Kerry Harmanis 12.5% Board Alan Senior (Chairman) – ex Jubilee Mines Gary Lethridge (Managing Director) – ex Jubilee Mines & LionOre Brian Dawes (Non-Executive Director) – ex Jubilee Mines & LionOre Karen Gadsby (Non-Executive Director) – ex North Ltd 3 Doolgunna Copper-Gold Projects Exposure to Copper-Gold Discoveries in an Emerging World-Class VMS Province 4 Doolgunna Projects • 3 prospective Doolgunna Projects: • Springfield, Halloween & Halloween West • Farm-in JV with Sandfire - Dec 2013 Monty • June 2015 - First regional discovery outside Sandfire’s DeGrussa VMS lenses made at Monty (Springfield Project) 5 Monty – The Discovery So Far • First regional discovery outside Sandfire’s DeGrussa VMS lenses • High grade, and high tenor massive sulphide in multiple intersections - similar to DeGrussa • Discovery hole TLDD0004A: -16.5 m @ 18.9% Cu and 2.1g/t Au • Mineralisation intersected in 7 holes: • 3 shallow intercepts ~80-140m vertical depth • 4 deeper intercepts ~300-370m vertical depth • Clear potential exists for Monty to be significant Discovery opens up highly prospective +5km VMS trend at Monty 6 Monty – Significant Intercepts to Date Discovery Hole – TLDD0004A 16.5m @ 18.9% Cu & 2.1g/t Au from 409.5m downhole Including 11.9m @ 24.1% Cu & 2.4g/t Au from 412.5m downhole TLDD0005 9.2m @ 11.8% Cu and 2.9 g/t Au from 417m down-hole TLDD0009 7.9m @ 8.3% Cu and 2.4g/t Au from 262.1m down-hole and; 4.8m @ 4.9% Cu and 1.1g/t Au from 385.8m down-hole TLDD0010 10.5m @ 18.9%Cu and 3.1g/t Au from 359.7m down-hole and; 4.7m @ 12.8%Cu and 2.5g/t Au from 373.6m down-hole TLRC0004 18m @ 5.7% Cu and 2.4 g/t Au from 107m down-hole and; 4m @ 4.2% Cu and 0.7 g/t Au from 158m down-hole TLRC0009 2m and 11m massive sulphides from 90m and 111m down-hole TLRC0010 8m and 1m massive sulphides from 133m and 158m down-hole Note: Calculation is based on a 0.5% cut-off, no more than 3m of internal dilution and a minimum composite grade of 1%. Intersection length (m), Cu (%), Au (ppm) are rounded to 1 decimal point. 7 The Evolution of a World-Class VMS Camp • • • • • 1938: • 1 Deposit 1938 – 1952: • 2 Deposits 1952 – 1954: • 6 Deposits 1954 – 1956: • 11 Deposits 1956 – 1958: • 5 Deposits 1958 – 1960: • 4 Deposits • 1960 – 1970: • 6 Deposits • 1970 – 1980: • 3 Deposits • 1980 – 1990: • 3 Deposits TOTAL: • 41 Deposits for 490.5Mt • 8 Doolgunna Region - An Emerging World-Class VMS Camp? 1980’s Horseshoe Lights VMS deposit discovered • 2009 DeGrussa Mine discovered • 2015 Monty Discovery • More discoveries to be made? 9 Springfield & Halloween – Multiple Prospective Corridors • Springfield and Halloween have potential to be part of a larger VMS camp • Considerable work remains to fully assess Springfield’s and Halloween’s potential • Springfield hosts 4 prospective VMS corridors: • Monty • Homer • Central • Southern Volcanics 10 Homer Prospect – The Next Discovery? • Homer is located ~ 4km along strike to the east of DeGrussa • Homer - a high priority target • Two diamond holes drilled to date by Sandfire – approx. 450m apart • Drilling has: • Confirmed the continuation of Sandfire’s C5 VMS stratigraphic package; • TLDD003 intersected what is interpreted to be C5 host horizon; and • C5 strike is approx. 300 metres Monty • Follow-up drilling is anticipated 11 Sinclair Nickel Project Looking for the next nickel discovery 12 Sinclair Nickel Project – Overview Sinclair Nickel Project: • Advanced and underexplored nickel sulphide project, acquired Feb ‘15 • Located within the Agnew-Wiluna Greenstone belt, a globally significant nickel province with >9Mt of nickel endowment, numerous world-class deposits Project hosts the Sinclair Nickel Mine: • Sinclair deposit discovered 2005, operated 2008 - 2013 • Produced 1.58 Mt @ 2.44% Ni for 38,500t of contained Ni Sinclair Project has potential for: • Multiple new nickel deposit discoveries; • Extensions to previously mined nickel deposit; and • A low-capital fast-track transition to production. 13 Regional Exploration • Highly prospective 290km² tenement package • 90 strike km of prospective ultramafics • Limited regional historic exploration • Stage 1 of regional exploration targeting exercise completed: • Re-interpretation and analysis of extensive datasets at some prospects • Surface geophysical EM surveys completed at Delphi & Sinclair East • 7 High Priority exploration drill targets identified : • Delphi Prospect - 3 Priority Targets (4km south of Sinclair) • Fly Bore – 3 Priority Targets (15km north of Sinclair) • Cody Well – 1 Priority Target (3km north of Sinclair) Maiden Talisman drilling program to commence shortly 14 Delphi Prospect – High Priority Target • Delphi is located 4km south of Sinclair extending for 6km’s strike of ultramafic stratigraphy • Re-interpretation, historical data review and new surface geophysical program (MLEM survey) completed • 3 High Priority Targets emerged: • 2 new targets identified; and • 1 historical target confirmed & refined • 6 hole drill program to commence shortly 15 Fly Bore Prospect – High Priority target • Fly Bore is located 15km north of Sinclair containing approx.10km’s strike of prospective ultramafic stratigraphy • Contains a number of geochemical and geophysical anomalies with limited historic drilling • Re-interpretation of historical geophysical, geological and geochemical data has identified 3 High Priority Targets: • 1 Target co-incident with geochemical anomaly and vectored by downhole and surface electromagnetic surveys • 2 Newly identified Targets - EM anomalies interpreted to be located in favourable stratigraphic positions • 4 hole drill program to commence shortly • POW lodged - drilling to commence following DMP approval and completion of drilling at Delphi 16 Cody Well Prospect – High Priority Target • Cody Well is located 3km along strike to the north of the Sinclair Nickel Mine • Regional targeting exercise has confirmed a robust drill target comprising: • an EM anomaly in a favourable stratigraphic position; • co-incident geochemical anomalies; and • untested by drilling. • 2 hole drill program to commence shortly • POW lodged - drilling to commence following DMP approval and completion of drilling at Delphi 17 Sinclair Nickel Deposit – Mine and nearby opportunities ~445m 200m 200m • Historic production 1.58 Mt @ 2.44% Ni for 38,500t of contained Ni (to 445m below surface) • Wide-spaced drilling of the Sinclair Deposit for 1km beyond current mine development has returned significant intersections* • Modelling, evaluation & scenario planning with regard to Sinclair Deposit remnants & extension is ongoing • $120M (replacement value) of surface mine infrastructure (incl. 300ktpa plant) currently on care and maintenance * Refer Talisman ASX Release 20th October 2014 18 Sinclair Nickel Project Infrastructure 19 Summary – Building a Diversified Growth Platform • VMS Copper / Gold (Doolgunna Copper-Gold Projects) • Sandfire funding & managing exploration under JV farm-in arrangement at projects located adjacent to DeGrussa • High grade Monty discovery – first VMS discovery in region outside of DeGrussa Mine • Potential for regional VMS Camp now beginning to be demonstrated • Springfield Project highly prospective for further VMS discoveries across multiple prospects • Nickel Sulphides (Sinclair Nickel Project) • Counter cyclical acquisition and exploration of Sinclair • Potential for significant regional project exploration upside was key acquisition driver • Initial phase of regional targeting exercise confirms potential for new discoveries • Maiden drill program focused on 7 priority exploration targets set to commence Building Opportunity and Diversity in Copper and Nickel 20 Investor Presentation September 2015 Building Opportunity and Diversity in Copper and Nickel