TALISMAN MINING LIMITED — Capital/Financing Update 2010

Apr 5, 2010

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Final Springfield Tenement to be granted during April
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Media / ASX Release

06 April 2010

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FINAL SPRINGFIELD TENEMENT TO BE GRANTED DURING APRIL Easternmost Exploration License to be Granted as Drilling Continues

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Talisman Mining Ltd (ASX: TLM ) is pleased to advise that it will shortly be granted the third and final Exploration License forming part of its 100%-owned Springfield Copper-Gold Project in Western Australia’s Bryah Basin.

The Company has received written confirmation from the Department of Mines and Petroleum (“DMP”) of its intention to grant the easternmost tenement (E52/2466) on 22 April 2010 ( see Figure 1 ), giving Talisman access to the full 303 sq km area encompassed by the Springfield Project.

The first two tenements, E52/2282 and E52/2313, were granted in November 2009, clearing the way for reconnaissance drilling programs to proceed. An initial program of ~7,000m of RC drilling commenced at Springfield on 22 March and is continuing.

The Springfield Project lies approximately 5km east of the DeGrussa VMS Copper Gold Project where Sandfire Resources NL recently announced a maiden JORC compliant Indicated and Inferred resource of 7.13 million tonnes grading 5.23% copper and 1.9g/t gold (372,000 tonnes of copper and 439,000 ounces of gold).

The initial program, which is expected to take between 8 to 10 weeks to complete, is planned to provide a first-pass reconnaissance drill test of four key geochemical targets at Springfield.

All of the targets lie within an extension of the same Narracoota Volcanic Formation that hosts the three identified lenses of copper-gold mineralisation at DeGrussa. This formation extends for ~25km within the Springfield Project area.

Talisman also advises that it has completed an assessment of the geology and available geochemical information for the Trillbar Project, which is located on the western edge of the Bryah Basin.

While the targeted stratigraphy at Trillbar does form part of the Narracoota Volcanics, it is interpreted to be a remnant of a deeper oceanic crust succession and therefore has a low prospectivity for the discovery of VMS copper-gold deposits.

The assessment of this Project is consistent with Talisman’s stated strategy of quickly and effectively assessing projects within its exploration portfolio in the Bryah Basin without distracting attention from its focused exploration activities at Springfield.

The Company continues to assess the gold and iron ore potential of the Trillbar Project.

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

Final Springfield Tenement to be granted during April

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Competent Persons’ Statement

Information in this ASX release that relates to Exploration Results is based on information compiled by Mr Harry Cornelius, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Harry Cornelius is a full time employee of Talisman Mining Ltd and has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2004 Edition of the “Australian Code for Reporting of Mineral Resources and Ore Reserves”. Mr Harry Cornelius consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

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For further information, please contact:

Gary Lethridge – Managing Director Or Peter Langworthy – Technical Director On +61 8 9380 4230

For media inquiries, please contact:

Nicholas Read – Read Corporate On +61 419 929 046

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

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Final Springfield Tenement to be granted during April

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Figure 1: Tenement plan

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