Ann: ASSET: NTL: US$250,000 Loan Retired

• Release Date: 29/11/13 16:43
• Summary: ASSET: NTL: US$250,000 Loan Retired
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					NTL
29/11/2013 14:43
ASSET

REL: 1443 HRS New Talisman Gold Mines Limited

ASSET: NTL: US$250,000 Loan Retired

November 29th 2013

ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL and NTLOA or NTLO)
For Immediate Release
US$ 250,000 Loan Retired
On 15 November 2013 New Talisman Gold Mines Ltd (NTL) announced it had
reached agreement with Armadale Capital PLC (ACP), an AIM listed UK public
company, to assign NTL's US$250,000 loan to Netcom Global Inc (Netcom)
together with NTL's 12.5% equity holding in Netcom to ACP in exchange for 93
million ACP shares.
NTL is pleased to announce that it has today completed a programme to sell
down a substantial proportion of its shareholding in ACP.  The proceeds of
the sell down programme after brokerage and when repatriated and converted
will approximate NZ$320,000 which will extinguish the Netcom loan and
interest accrued thereon in New Talisman's books.
Following completion of the sell down programme NTL retains in excess of 25
million shares in ACP which offers it an ongoing exposure to the Mpokoto gold
project in the Democratic Republic of the Congo.  The loan to Netcom was
originally advanced for the purposes of progressing this project.  NTL will
review its shareholding in ACP from time to time having regard to progress
made developing the Mpokoto project and its own funding requirements.
NTL chairman Murray McKee considered the transaction with ACP and the
subsequent sell down programme to mark a very significant milestone for NTL.
"We have recovered the full face value of the loan in our books together with
interest.   In addition we have retained an indirect exposure to the Mpokoto
project which offers further value upside for our shareholders in the future.
  In short our 10 month investment in Netcom has generated a substantial gain
for NTL" Mr Mckee said today.  "Completion of the sell down programme has
effectively cleared NTL's decks for an all-out effort to bring the Talisman
mine to fruition in 2014.   I am confident we will be in a position to
announce further positive developments at Talisman in the very near future"
Mr McKee concluded.
Matthew Hill
Executive Director
027 555 7737

About New Talisman Gold Mines Ltd
New Talisman Gold is a dual listed (NZX Main Board & ASX: NTL) with 1800
shareholders who are mainly from Australia and New Zealand. It is a leading
New Zealand minerals development company with a portfolio of high quality
mineral interests. Its gold properties near Paeroa in the Hauraki District of
New Zealand are a granted mining permit, including a JORC compliant mineral
resource within the original Talisman underground mine and an adjacent
exploration permit along strike from the mine. The company is now advancing
its plans to develop the mine, and advance the exploration project. Through a
subsidiary company, New Talisman Gold owns 21.7% of Broken Hill Prospecting
Limited, which is planning to develop a cobalt project at Thackaringa, about
25 kilometres south-west of Broken Hill in Australia. BPL is listed on the
ASX (Code: BPL). More about New Talisman Gold at www.newtalismangold.co.nz
End CA:00244527 For:NTL    Type:ASSET      Time:2013-11-29 14:43:01