Ann: GENERAL: NTL: Update on Chinese Investor Gro

• Release Date: 23/01/14 17:47
• Summary: GENERAL: NTL: Update on Chinese Investor Group
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					NTL
23/01/2014 15:47
GENERAL

REL: 1547 HRS New Talisman Gold Mines Limited

GENERAL: NTL: Update on Chinese Investor Group

23rd January 2014
FOR IMMEDIATE RELEASE
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL, NTLOA or NTLO)
UPDATE ON CHINESE INVESTOR GROUP
- Formal extension requested by Chinese investment group
- Desktop due diligence and audits by investor group now complete
- Senior executives to commence site visit on 10th February
- Technical team comprising a party specialists and container of equipment
due in NZ by mid February.

New Talisman Gold Mines announced today that is has received a formal letter
of request for an extension to the signed Heads of Agreement (HOA) with St
Albans Pty Ltd dated 12th December 2013. The formal request is for a period
of 90 days from the date of the signed agreement to allow completion of
definitive agreements and technical due diligence.

The Terms of the HOA provide for the full funding requirements set out in the
Talisman Mine Pre- Feasibility Study dated 30 March 2013 of NZ $10.9M, in
return for 65% of the 32,200 ounces of Gold (20,930 oz Au) catered for in the
study.

The letter received confirms that representatives from St Albans and
beneficial shareholder Langfan Dashan Geology & Mining Co Ltd, of Hebei
China, ("Langfan") will visit the New Zealand Mine for further on ground due
diligence and laboratory testing.

St Albans have advised that due diligence is now complete on the technical
data provided and have proceeded with the transportation of a container of
equipment and specialist chemicals from China for the completion of test work
by their technical team. It is expected that the technical team should have
completed their test work by the end of February.

Emerald Resources (Asia) Limited, New Talisman's advisors in conjunction with
St Albans, have set out the timeline for completion of draft definitive
agreements by the 31st January and have completed the proposed timing of the
site visit.

The visit is scheduled for the 10th - 14th February for the senior executives
of the group and will be followed shortly thereafter by the technical team.
The group's senior management team will complete a site visit to the Talisman
mine and meet with NTL board members and senior management to finalise
commercial negotiations at that time.

Executive Director Matthew Hill said "We are working hard with our potential
partners in finalising the due diligence. The positive progress with our
potential partners highlights the quality of the project at Talisman where
high grades allow for considerable flexibility as compared to many junior
gold mining companies. The company continues to complete the precursor work
to our bulk sampling/trial mining phase at Talisman and we are on schedule
for commencement of the project during the second half of 2014."

Matthew Hill
Executive Director
New Talisman Gold Mines Limited
Direct +64 27 5557737
[email protected]

Media Enquiries contact Jillian Talbot at Reach Consulting on +64 21 493820
or at [email protected]

For more information on New Talisman Gold Mines go to www.newtalisman.co.nz
_____________________________________________________________________________
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About New Talisman Gold Mines Ltd
New Talisman Gold is a dual listed (NZSX & ASX: NTL) leading New Zealand
minerals development company with 1800 shareholders who are mainly from
Australia and New Zealand.
The company's flagship asset the Talisman mine holds a JORC compliant mineral
resource, a JORC compliant reserve and has been granted resource consents and
access arrangements for the initial phase of the project. The company is
currently initiating bulk sampling at Talisman and continues to advance the
development of the mine. New Talisman's wholly owned subsidiary Coromandel
Gold Limited holds a portfolio of high quality mineral interests and gold
properties in the Hauraki and Northland Districts of New Zealand.
New Talisman Gold owns 21.7% of Broken Hill Prospecting Limited, which holds
a cobaltiferous pyrite project at Thackaringa, about 25 kilometres south-west
of Broken Hill in Australia. BPL is listed on both the ASX and NZSX (Code:
BPL).
More about New Talisman Gold at www.newtalismangold.co.nz
End CA:00246328 For:NTL    Type:GENERAL    Time:2014-01-23 15:47:30