Geoff Hill Resignation from Coromandel Gold

New Talisman Gold Mines Limited announced today that Mr Geoffrey Hill has resigned from the board of 100% owned subsidiary Coromandel Gold Limited (CGL) effective 30th June 2014. Geoff’s resignation from CGL severs his last governance link with NTL and NTL has expressed to Geoff its appreciation of his long service to the company.

Geoff Hill chaired the board of NTL for many years until March 2012. In that capacity his long experience on the boards of listed Australian industrial, financial and mining companies served the company well. Under his careful stewardship the company successfully built a portfolio of highly prospective exploration permits and raised the funds to drill and evaluate them. Geoff’s background in the Australian capital markets sector was invaluable in this latter regard.

NTL current Chairman, Murray McKee, acknowledged that Geoff had an enduring influence on the company and said “the strong position the company is in today with one permit being developed for production in the near term is a direct outcome of the strategic direction established during his period at the helm”.

Geoff remains a significant shareholder in NTL and will continue to follow closely the fortunes of the company.

Matthew Hill Appointment to Coromandel Gold Board

NTL also announced today that Mr Matthew Hill has been appointed to the board of Coromandel Gold. Matt is currently executive director of NTL.

Background.

Coromandel Gold Limited is the exploration arm of NTL. To ensure NTL’s primary focus remains on development of the Talisman Mine which is expected to produce the first ore late in the Q4 2014, the company manages its exploration operations through a separate vehicle. CGL is currently reviewing a number of funding structures to provide it with the necessary capabilities to fund its exploration endeavours. An update on these initiatives and further additions to the board will be provided over the coming months. The board of CGL is currently considering senior management positions and further appointments are expected in the near future.

Coromandel Gold exploration portfolio

EL 40736 Golden Valley
The Golden Valley Exploration Permit covers 2524 ha of highly prospective land to the east and north east of the currently producing Martha and Favona mines and the Correnso deposit now in development. Exploration by NTL targeted gold mineralisation beneath post mineral cover rocks and successfully identified several target areas initially from detailed aeromagnetic geophysical surveying and later ground based follow up.
EL 53706 Parakao
Northland Minerals Ltd, a wholly owned subsidiary of NTL holds an 1,188 hectare Exploration Permit in Northland, New Zealand.
EL 40117 Rahu
NTL is currently modelling the geology and gold grade distribution of the known mineralisation at Rahu as defined by drilling, geological mapping and surface sampling to determine which parts of the mineralisation outlined to date could be classified into a resource category under the JORC code 2012.

New Talisman Gold Mines (“NTL”) announced today that founding Director Peter Atkinson has retired as a Director of NTL’s wholly owned subsidiaries Coromandel Gold and Northland Minerals. Peter stepped down as a Director of the parent company (NTL) in 2012 and his engagement as resource consent/access consultant ceased at the end of April 2014.

New Talisman Gold Mines Ltd, (previously Heritage Gold NZ limited), was listed on the New Zealand Stock Exchange in 1986 and on the Australian Stock Exchange in 1987 just before the global stock market crash. Junior mining companies with their focus on exploring and proving up minerals within defined geological provinces were a well-supported feature of the Australian Stock Exchange at that time, but were a rarity on the NZ exchange. So Peter’s decision to float a public company to fund the exploration of three prospective areas in the Coromandel was a pioneering step back then.

Peter performed a variety of important roles with the company over the last quarter of a century – from Chairman to consultant. “It is a tribute to Peter’s careful stewardship throughout this entire period that the Company is in good stead today and within arm’s reach of its vision of becoming an established gold producer,” Chairman Murray Mckee said.

Recalling some of the difficult times when it was almost impossible to raise finance for mineral exploration, Murray acknowledged Peter’s willingness to innovate and recalled an example of the Company floating two hi-tech stocks, in order to raise funds for mineral exploration.

Murray also highlighted Peter’s more recent contribution in managing the Talisman project resource consent and access arrangements with the district council, regional council, Department of Conservation and other stakeholders.

“Peter retains a significant shareholding in the company and I know he will continue to follow its progress with close interest”, Murray observed. “He has agreed to make himself available to assist the company in the future if required and I am sure all former and current Directors and staff join with me in thanking Peter for his outstanding contribution over the years and in wishing him well for the future” Murray concluded.

New Talisman Gold Mines Limited (“the Company”) is pleased to announce the results of the 1 for 2 renounceable rights issue announced on 30 April 2014.

Up to 282,941,751 ordinary shares were offered at an issue price of NZ or AU $0.008 per share to enable shareholders to participate in the Talisman Mine establishment.

The Company received acceptances for a total of 78,722,716 new shares, raising $634,069 before expenses.

There is a consequential short fall under the rights issue of 204,219,035 new shares.

The allotment of new shares under the offer is scheduled for Friday 13 June 2014.

The shortfall shares can be placed at the discretion of the Board no later than 3 months after the closing date of the offer which is 6 September 2014.

Chief Executive Officer, Matthew Hill said “The Board was committed to offering existing eligible holders the opportunity to participate in the mines development at the generous discount provided, rather than fund via external sources. The amount was raised in very difficult market conditions demonstrating tremendous support by our NZ shareholders who were by far the highest participants.

The result is one of the most successful rights issues of an Australian and New Zealand junior mining company over the last 18 months and demonstrates the market confidence in the company.

Having given shareholders the opportunity to participate we can now look at further opportunities to complete the funding objectives of the company. We remain on target for the first production out of Talisman by the end of Q4 2014.”