TALISMAN MINING LIMITED — AGM Information 2012

Oct 29, 2012

30 October 2012

COMPANY SNAPSHOT

ASX Release: CHAIRMAN’S ADDRESS -ANNUAL GENERAL MEETING

Board of Directors

Alan Senior Non-Executive Chairman

Gary Lethridge Managing Director

Please find attached a copy of the Chairman’s Address to be delivered at the Company’s Annual General Meeting to be held at 10.00am Tuesday 30 October 2012.

Graeme Cameron Technical Director

Brian Dawes Non-Executive Director

Karen Gadsby Non-Executive Director

Contact Details

6 Centro Avenue Subiaco, Western Australia, 6008 Australia

For and on behalf of the Board,

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Daniel Madden

Company Secretary

Telephone: + 61 8 9380 4230

Facsimile: + 61 8 9382 8200

Email: info@talismanmining.com.au

Web site: www.talismanmining.com.au

Capital Structure

Shares on Issue: 131,538,627 (TLM)

Options on Issue: 14,950,000 (Unlisted)

ASX: TLM

Talisman Mining Ltd ABN 71 079 536 495 6 Centro Avenue, Subiaco Western Australia 6008 www.talismanmining.com.au

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The 2012 financial year has been one of the most active years in the Company’s history. At a time when global equity market conditions have forced many resource companies to scale back their exploration commitments, Talisman has been in the fortunate position of being able to maintain an active and focused exploration campaign throughout the year.

Our exploration spend of approximately $11 million was predominantly directed towards our Doolgunna region projects and has been one of the most significant exploration commitments by a listed exploration company anywhere in Australia.

The rationale behind this strategic focus is simple. The value leverage for shareholders that would flow from the greenfields discovery of a high-value, high-grade VMS-style copper-gold deposit in this area is enormous. This has already been demonstrated by the stunning growth achieved by Sandfire Resources through the discovery and subsequent rapid development of the DeGrussa Project.

Exploration efforts this year have built on the solid foundations of extensive reconnaissance exploration over the last 2 years allowing us to establish a comprehensive and regionally unique project database for the Doolgunna region projects. This exploration model provides us with an important regional and local geological and structural understanding in order to establish a comprehensive exploration methodology for narrowing the “search radius” for potential VMS deposits on our tenements.

Late in the 2012 Financial Year we secured the right to earn up to a 60 per cent interest in the Halloween West Joint Venture Project from Chrysalis Resources Limited. This project is located adjacent to the Halloween Project and is interpreted to host a continuation of the Halloween VMS horizon. An initial RC drill program is planned to commence shortly.

We are currently undertaking an RC drill program at Springfield focused upon target areas at the Monty, Homer and Central trends, plus an RC drill program at the nearby Halloween Project. Importantly we will shortly be undertaking some deeper targeted diamond drilling at the Halloween project following the culmination of the recent RC program.

Over the 2013 calendar year we anticipate working up further targets along the emerging Southern Volcanic Trend within the Springfield Project and also at the Halloween West Project. Additionally, we will continue to seek new value adding projects for our asset portfolio.

We have experienced a very active 2012 and remain in a robust financial position with a strong and capable management and exploration team. We are well placed over the coming twelve months to continue active and focused exploration.

Finally, I would like to thank you the shareholder for your support and patience. Rest assured that we are focused upon de-risking quality projects systematically in order to give Talisman the best chance for exploration success. In addition I would like to acknowledge and thank all of our employees for their hard work and commitment. I and the rest of the Board recognize the immeasurable value of the Talisman team and look forward to theirs and your invaluable and continued support.

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