Ann: MINE: NTL: Rahu Resource Declared and Application Lodged

• Release Date: 26/08/14 13:36
• Summary: MINE: NTL: Rahu Resource Declared and Application Lodged
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					NTL
26/08/2014 13:36
MINE

REL: 1336 HRS New Talisman Gold Mines Limited

MINE: NTL: Rahu Resource Declared and Application Lodged

New Talisman Gold Mines today announces that it has filed an application for
an Extension of Land (EOL) to incorporate the Rahu exploration permit into
the Talisman mining permit (MP51326) following a resource being declared over
Rahu. NTL have worked diligently with an independent geologist and believe
that the criteria set out in the minerals program in order to apply for an
EOL have been met.

Key to these criteria is the declaration of an indicated resource. An
independent report filed with the application declares an inferred and
indicated resource of 2,394,573 tonnes at 0.54g/t gold for 41,591oz gold
using a cutoff grade of 0.3g/t and 258,419oz Ag. This has been based around
the extensive work conducted by NTL over the period it has held the Rahu
exploration permit. The Company has applied for the EOL as a contiguous piece
of land to the Talisman MP. This required successfully obtaining consent to
overlap a small piece of land held by another mining company.

Background on Rahu

From having made a discovery at Rahu and demonstrating the geology is an
extension of the Talisman Vein system NTL has applied to include Rahu as part
of its Talisman Mining Permit.

NTL have completed some 2,492m of drilling at Rahu which, together with
previous drilling campaigns and geological investigations, provides evidence
that mineralisation and alteration present at Rahu represent the upper levels
of and northern extension of the Talisman  epithermal gold system. Most of
the drilling has intersected broad zones of low-medium grade Au and Ag
mineralization with narrower higher grade intervals. This is characteristic
of the upper parts of an epithermal system. Highly mineralised quartz vein
fragments (up to 7.6g/t Au) in hydrothermal breccia zones present within
drill core attest to the presence of deeper higher-grade quartz veining that
is characteristic of the veins mined within the Talisman Mine and provides
further evidence that Rahu is an extension of the Talisman. The EOL to
include Rahu in the Talisman MP will allow for a natural extension of mining
operations from the Talisman.

Coromandel Gold Limited

As previously announced through its exploration arm Coromandel Gold Limited
"CGL", NTL is working with CGL to develop a work program over the Talisman
permit to exploit target areas which may include Rahu. CGL representatives
are currently in discussions with a major gold producer regarding the
potential for a joint venture arrangement on NTL's exploration targets at
Rahu.

Matthew Hill said "Whilst continuing to complete steps toward the Talisman
Mine, the technical team have completed a significant body of work to make an
application on Rahu and have met the criteria set out in the minerals
program. It has always been our view that Rahu is an extension of the
Talisman Vein systems and would become part of the longer term future of the
sustainable mining development at the Talisman mine. The Rahu deposit has
increased the Talisman Groups total resources by approx. 25% to just under
250,000 oz of Gold."

Refer attached pdf for complete release including resources table and Table
1:Jorc Code, 2012 edition.

Matthew Hill
CEO
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]

Competent Person Statement

The information in this report that relates to Exploration Targets,
Exploration Results, and Mineral Resources is based on information compiled
by Murray Stevens, a Competent Person who is a Member of The Australasian
Institute of Mining and Metallurgy. Mr Stevens is employed by Stevens and
Associates and is an independent consultant engaged by New Talisman Goldmines
Limited from time to time on a consulting basis. Mr Stevens has sufficient
experience that is relevant to the style of mineralisation and type of
deposit under consideration and to the activity being 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 Stevens consents to the inclusion in the report of the matters
based on his information in the form and context in which it appears.
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End CA:00254401 For:NTL    Type:MINE       Time:2014-08-26 13:36:19