TALISMAN MINING LIMITED — AGM Information 2010

Nov 25, 2010

ASX Code: TLM

Annual General Meeting 2010

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Disclaimer

Competent Person’s Statement

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on the doorstep of Sandfire’s DeGrussa discoveries

working to efficiently unlock its potential

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113.3M 37.2 M $ 105.4 M $ 12.8 M

Shares Options Market Cap: Cash (at 30 Sept 2010)

15.59%

Gary Lethridge (Managing Director) Peter Langworthy (Executive Director) Brian Dawes (Executive Director) Harry Cornelius (Exploration Manager) Dan Madden (Chief Financial Officer)

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Looking Back

New Key Executive Appointments

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Looking Back

New Strategy Development & Portfolio Assessment

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Looking Back

Initial Recapitalisation: Share Placement @ $0.30 (raised $5.2m)

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Looking Back

Discovery of DeGrussa Cu-Au Deposit by Sandfire Resources

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Looking Back

Wonmunna Project Scoping Study Completed

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Soil Sampling and Geological Mapping / Electromagnetic Surveys and infill Soil Sampling / Native Title, Statutory Permitting

Looking Back

JV Farm-out of Manganese Projects to Shaw River Resources

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Looking Back

Early Grant of Springfield Tenements

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Looking Back

Bryah Basin Expansion Strategy: Acquisition of Halloween Cu-Au Project

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Looking Back

Bryah Basin Expansion Strategy: Shelby Project - Open Ground Pegging

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Looking Back

Exploration Funding Sourced: Share Placement @ $0.90 (raised $9.5m)

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Looking Back

Springfield Access Agreements & Clearances with Traditional Owners

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1[st] phase reconnaissance drilling

Diamond drilling / 2nd phase RC drilling / RAB drilling / Airborne magnetics and radiometrics

Looking Back

Copper Sulphides Reported from Springfield

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Looking Back

Option Agreement to sell Iron Ore Assets for $41.35M

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Looking Back

Wonmunna 3 month Option Granted - Receipt of $2M non-refundable option fee

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Bryah Basin Copper-Gold Portfolio

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Strategic regional footprint ~736km² Exploration model: Emerging VMS Camp

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Potential for high-grade, highvalue deposits (eg DeGrussa)

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10.67 Mt @5.6% Copper / 1.9g/t Gold 3 Prospective VMS Corridors: ~45km strike length

Surface geochemistry Airborne Magnetics Targeted surface EM surveys Targeted gravity surveys Drilling campaign initiated

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Springfield Project – Northern Corridor

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VMS prospective “Corridor” established in multiple datasets Direct extension of trend from DeGrussa onto the Springfield Project Multiple high priority targets along Northern Corridor Drill testing ongoing: Diamond, RC and RAB

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Springfield Project – Northern Corridor

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VMS prospective “Corridor” established in multiple datasets Direct extension of trend from DeGrussa onto the Springfield Project Multiple high priority targets along Northern Corridor Drill testing ongoing: Diamond, RC and RAB

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Springfield Project – Northern Corridor

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VMS prospective “Corridor” established in multiple datasets Direct extension of trend from DeGrussa onto the Springfield Project Multiple high priority targets along Northern Corridor Drill testing ongoing: Diamond, RC and RAB

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Springfield Project

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Springfield Project

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Geochemistry Airborne Magnetics Targeted surface EM surveys

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Northern Projects – Shelby/Milgun

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Interpreted northern extensions of Bryah Basin under younger sedimentary cover (Bangemall Basin)

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Close to Horseshoe Lights VMS Cu-Au Mine

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Potential extensions of Horseshoe Lights mineralised trend to the north Planned exploration includes mapping, geochemical sampling and drilling

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Bryah Basin - Summary

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Prospective region for VMS mineralisation – an emerging “Camp”? Talisman has four prospective project areas in the region Aggressive, focused exploration program in place Continuing to assess new regional opportunities

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Wonmunna Iron Ore Project

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$34.25M cash 35.5M post reconstructed ECE shares

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Targeted exploration at Springfield Cu-Au Project Commence or progress exploration at Shelby-Milgun-Halloween Projects Participate in the consolidation of the highly prospective Bryah Basin Expansion of Talisman’s footprint in the Bryah Basin Funding capacity Execution capability Focus on quality assets remains