TALISMAN MINING LIMITED — Board/Management Information 2008

Dec 4, 2008

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TALISMAN MINING LTD

PO Box 1262, Subiaco WA 6904 Tel: +61 8 9380 4230 / Fax: +61 8 9382 8200 www.talismanmining.com.au

5[th] December 2008

The Manager Company Announcements Office Australian Securities Exchange

By electronic lodgment

TALISMAN MINING LTD ANNOUNCES INTERIM MANAGEMENT ARRANGEMENTS

Talisman Mining Ltd wishes to announce that Chairman Alan Senior will become Executive Chairman, following the sudden and unexpected resignation of Steven Elliott as Managing Director late last month. This is an interim appointment pending the appointment of a new Managing Director.

Mr Senior has chaired Talisman Mining since November 2007. He is an engineer with more than 35 years experience in design and project development, mainly in Australia’s mining and mineral processing industry. He has extensive experience at all stages of mining projects, from pre-feasibility through to commissioning and operation.

Mr. Senior is pleased to be supported in his role by the existing management team at Talisman comprising Harry Cornelius, Exploration Manager, Brendan Britliffe, Operations Manager and Stephanie Bunyard, Administration Manager. The management team have largely been with Talisman since listing and have an in depth knowledge of the operations of the Company that will ensure a seamless transition until such time as the Board appoint a replacement Managing Director.

Talisman’s operations remain on track to ensure that the development of the Wonmunna iron ore resource proceeds to maximise shareholder returns. Significant milestones in the development process are as follows: -

• Appointment of AMC to prepare the Mine Scoping Study

• Update of JORC resource to include CMM and SMM – Mid January 2009

• Completion of the AMC Mine Scoping Study – Mid February

Yours faithfully,

Darren Crawte Company Secretary

ABN 71 079 536 495