TALISMAN MINING LIMITED — Interim / Quarterly Report 2017

Apr 27, 2017

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Name of entity:

Talisman Mining Limited

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ABN

71 079 536 495

Quarter ended (“current quarter”) 31 March 2017

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date (9
		$A’000	months)
			$A’000
1.	Cash flows from operating activities
1.1	Receipts from customers
1.2	Payments for
	(a) exploration & evaluation	(1,098)	(3,877)
	(b) development	(274)	(1,449)
	(c) production	-	-
	(d) staff costs	(134)	(567)
	(e) administration and corporate costs	(243)	(898)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	96	381
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Research and development refunds	-	-
1.8	Other (provide details if material)	-	-
1.9	Net cash from / (used in) operating activities	(1,653)	(6,410)
2.	Cash flows from investing activities
2.1	Payments to acquire:
	(a) property, plant and equipment	(2)	(26)
	(b) tenements (see item 10)	-	-
	(c) investments	-	-
	(d) other non-current assets	-	-
2.2	Proceeds from the disposal of:
	(a) property, plant and equipment
	(b) tenements (see item 10)	-	-
	(c) investments	-	-
	(d) other non-current assets	-	-

• See chapter 19 for defined terms. 01/09/2016

Appendix 5B Page 1

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date (9
		$A’000	months)
			$A’000
2.3	Cash flows from loans to other entities	-	-
2.4	Dividends received (see note 3)	-	-
2.5	Other (provide details if material)	-	-
2.6	Net cash from / (used in) investing activities	(2)	(26)
3.	Cash flows from financing activities
3.1	Proceeds from issues of shares
3.2	Proceeds from issue of convertible notes	-	-
3.3	Proceeds from exercise of share options	-	-
3.4	Transaction costs related to issues of
	shares, convertible notes or options	-	-
3.5	Proceeds from borrowings	-	-
3.6	Repayment of borrowings	-	-
3.7	Transaction costs related to loans and
	borrowings	-	-
3.8	Dividends paid	-	-
3.9	Other (provide details if material)	-	-
3.10	Net cash from / (used in) financing
	activities	-	-
4.	Net increase / (decrease) in cash and
	cash equivalents for the period
4.1	Cash and cash equivalents at beginning of	15,462	20,243
	period
4.2	Net cash from / (used in) operating	(1,653)	(6,410)
	activities (item 1.9 above)
4.3	Net cash from / (used in) investing activities	(2)	(26)
	(item 2.6 above)
4.4	Net cash from / (used in) financing activities		-
	(item 3.10 above)	-
4.5	Effect of movement in exchange rates on	-	-
	cash held
4.6	Cash and cash equivalents at end of	13,807	13,807
	period

• See chapter 19 for defined terms. Appendix 5B Page 2

01/09/2016

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

5.	Reconciliation of cash and cash	Current quarter	Previous quarter
	equivalents	$A’000	$A’000
	at the end of the quarter (as shown in the
	consolidated statement of cash flows) to the
	related items in the accounts
5.1	Bank balances	43	108
5.2	Call deposits	13,462	14,833
5.3	Bank overdrafts	-	-
5.4	Other(restricted cash in Doolgunna Joint Venture with Sandfire Resources NL)	302	521
5.5	Cash and cash equivalents at end of quarter (should equal item 4.6 above)	13,807	15,462
6.	Payments to directors of the entity and their associates		Current quarter
			$A'000
6.1	Aggregate amount of payments to these parties included in item 1.2		158
6.2	Aggregate amount of cash flow from loans to these parties included
	in item 2.3		-
6.3	Include below any explanation necessary to understand the transactions		included in
	items 6.1 and 6.2

Salaries and statutory superannuation paid to Directors.

7. Payments to related entities of the entity and their associates Current quarter $A'000

7.1 Aggregate amount of payments to these parties included in item 1.2 - 7.2 Aggregate amount of cash flow from loans to these parties included in item 2.3 -

7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

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• See chapter 19 for defined terms. 01/09/2016

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

8.	Financing facilities available	Total facility	Amount drawn at
	Add notes as necessary for an	amount at quarter	quarter end
	understanding of the position	end	$A’000
		$A’000
8.1	Loan facilities	-	-
8.2	Credit standby arrangements	-	-
8.3	Other (please specify)	-	-
8.4	Include below a description of each facility above, including the lender,		interest rate and
	whether it is secured or unsecured. If any additional facilities have been entered into or are
	proposed to be entered into after quarter end, include details of those facilities as well.

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9.	Estimated cash outflows for next	Estimated cash outflows for next	quarter	$A’000
9.1	Exploration and evaluation			1,600
9.2	Development			900
9.3	Production			-
9.4	Staff costs			190
9.5	Administration and corporate costs			240
9.6	Other (provide details if material)			200
9.7	Total estimated cash	outflows		3,130
10.	Changes in	Tenement	Nature of interest	Interest at	Interest
	tenements	reference		beginning of	at end of
	(items 2.1(b) and	and		quarter	quarter
	2.2(b) above)	location
10.1	Interests in mining	-	-	-	-
	tenements and
	petroleum tenements
	lapsed, relinquished
	or reduced
10.2	Interests in mining	E52/3423	Exploration License	0%	30%
	tenements and	E52/3424	Exploration License	0%	30%
	petroleum tenements acquired or increased	E52/3425 E52/3466	Exploration License Exploration License	0% 0%	30% 30%
		E52/3467	Exploration License	0%	30%
		M52/1071	Mining License	0%	30%
		L52/170	Miscellaneous License	0%	30%
		E51/1767	Application	0%	0%
		ELA5456	Application	0%	0%

• See chapter 19 for defined terms. Appendix 5B Page 4

01/09/2016

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Sign here:

............................................................ ( ~~Director/~~ Company secretary)

Date: 28 April 2017

Print name: Shaun Vokes.......................................

Notes

1. The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. See chapter 19 for defined terms. 01/09/2016

Appendix 5B Page 5