TALISMAN MINING LIMITED — Board/Management Information 2016

Jun 23, 2016

[Insert date] 201624 June 2016 COMPANY SNAPSHOT COMPANY SNAPSHOT

~~Board of Directors~~ Board of Directors

Jeremy Kirkwood Jeremy Kirkwood Non-Executive ChairmanNon-Executive Chairman

Alan SeniorAlan Senior Non-Executive Director Non-Executive Director

Brian DawesBrian Dawes Non-Executive Director Non-Executive Director

Karen GadsbyKaren Gadsby Non-Executive Director Non-Executive Director

Acting CEO ~~Acting CEO~~ Daniel Madden Dan Madden

Contact Details

Telephone: Contact Details +61 8 9380 4230

Email: Telephone: +61 8 9380 4230 info@talismanmining.com.au

Email: Website: info@talismanmining.com.auwww.talismanmining.com.au

~~Website:~~ Capital Structure www.talismanmining.com.au Shares on Issue: 185,699,879 (TLM) Capital Structure

Shares on Issue: Options on Issue: 5,650,000 (Unlisted) 185,699,879 (TLM)

Options on Issue: 5,650,000 (Unlisted)

APPOINTMENT OF MANAGING DIRECTOR

Talisman Mining Limited (ASX: TLM) is pleased to advise that the Board of Directors has resolved to appoint Acting CEO Mr Dan Madden as Managing Director, effective 1 July 2016.

Mr Madden has successfully fulfilled the role of Acting CEO since 1 April 2016, having been promoted from Chief Financial Officer following the resignation of the Company’s Managing Director.

Mr Madden has been with Talisman since 2009 and is an experienced mining industry and finance professional with more than 15 years’ experience in the resource sector, including as General Manager – Finance for Xstrata Nickel Australasia and Financial Controller for Jubilee Mines.

Mr Madden has played an important role in Talisman’s recent capital raisings and the major transactions undertaken by Talisman in the last six years, including the exploration farm-in by Sandfire Resources, the acquisition of the Sinclair nickel project and the divestment of the Wonmunna iron ore project.

Mr Madden holds a degree in Commerce and Accounting from the University of Birmingham, is an Associate Member of the Institute of Chartered Accountants of England and Wales and is a member of the Governance Institute of Australia.

Talisman Chairman Mr Jeremy Kirkwood congratulated Mr Madden on his appointment as Managing Director and welcomed him to the Company’s Board of Directors.

“The Board and I have had the opportunity to work closely with Dan in the past three months and we have all been impressed by his leadership, strong work ethic and proven capabilities across all aspects of the business,” Mr Kirkwood said.

“We are confident Dan has all of the attributes necessary to continue to successfully lead Talisman and grow value for our shareholders.”

==> picture [592 x 59] intentionally omitted <==

In conjunction with the commencement of Mr Madden as Managing Director, Mr Shaun Vokes has been appointed Chief Financial Officer. Mr Vokes was appointed Talisman’s Commercial Manager in April and Joint Company Secretary in May. He will continue to hold the position of Joint Company Secretary.

Mr Vokes is an accountant with more than 25 years’ experience in the mining industry, gained predominantly in senior operational and management roles within Australia and Africa.

With the appointment of these two key executives and the support of the General Manager Geology and General Manager Project Development, the Company has a balanced and driven senior management team.

The Board is confident that the Company is now well placed to address the strategic priorities that it faces and is capable of generating significant further value from Talisman’s 30% share of the highgrade Monty copper and gold deposit, the wider Springfield Joint Venture and the 100%-owned Sinclair nickel project.

ENDS

For further information, please contact: Dan Madden – Acting CEO on +61 8 9380 4230

For media inquiries, please contact: Michael Vaughan – Fivemark Partners on +61 422 602 720

==> picture [596 x 40] intentionally omitted <==

----- Start of picture text -----

Page 2 of 3
----- End of picture text -----

==> picture [592 x 59] intentionally omitted <==

ANNEXURE A – LISTING RULE 3.16.4 INFORMATION

Managing Director Employment Terms

Mr Madden will receive a fixed remuneration element, together with being eligible to receive additional short and long term incentives under the Company’s short and long term incentive plans. Further details of TLM’s short and long term incentive framework are included in TLM’s Annual Report, available on the Company’s website.

Base Salary – Total Fixed Remuneration

A fixed base salary and allowances of $385,000 per annum exclusive of statutory superannuation.

Long Term Incentive

Subject to the ASX Listing Rules and relevant Board and shareholder approvals (as applicable) Mr Madden will be entitled to participate in the Company’s long term incentive schemes as varied from time to time.

Short Term Incentive

Mr Madden will be entitled to participate in Company Short Term Incentive Bonus arrangements subject to determination of appropriate KPIs by the Board.

Other Key Terms

Mr Madden’s contract has no fixed period. In the event of termination without cause, the Company is required to give Mr Madden three months’ notice and make a payment equal to three months’ base salary and allowances (plus superannuation).

In the event of a change of control event, subject to the Corporations Act and ASX Listing Rules, any unvested STI and LTI entitlements automatically vest.

==> picture [596 x 40] intentionally omitted <==

----- Start of picture text -----

Page 3 of 3
----- End of picture text -----