TALISMAN MINING LIMITED — Investor Presentation 2011

Apr 5, 2011

ASX Code: TLM

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Resources Rising Stars Luncheon Presentation - April 2011

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Disclaimer

Competent Person’s Statement

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Located on the doorstep of Sandfire‟s DeGrussa high grade copper discoveries Springfield has the same sequence of volcanic rocks which host the DeGrussa VMS system Visible chalcopyrite observed in drill core

working to efficiently unlock its potential

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Talisman Project Location

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2011 – Planned Activities

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$10M exploration budget for 2011 Drilling has recommenced at Springfield & is planned to continue throughout the year Acceleration of assessment of regional Bryah Basin Projects Cashed up and looking for additional quality growth opportunities

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Growth Pipeline

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Commodity Focus:

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Gold Copper Nickel sulphides Advanced exploration project focus High quality assessment filter in place Must see “value add” opportunity Pipeline of opportunities being assessed (initially looking to add a gold exploration project) +$45M in cash holdings

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Shares Unlisted Options Market Cap (Undiluted @ 80cents per share) Cash

130.4M 14.6 M $ 104 M $ 46 M

12.8%

Gary Lethridge (Managing Director) Peter Langworthy (Executive Director) Brian Dawes (Executive Director) Harry Cornelius (Chief Geologist) Dan Madden (Chief Financial Officer)

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Bryah Basin Region Exploration Portfolio

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Strategic regional footprint ~1520km² Targeting: Emerging Copper-Gold Camp in Bryah Basin Large Scale Ni, Cu, Au Deposits in Gascoyne Region

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Springfield Project – Priority Targets

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Springfield Project – Priority Targets

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Springfield Project – Homer

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Located in Northern Corridor immediately along strike from DeGrussa Supportive multi-element geochemistry Visible chalcopyrite mineralisation identified in drilling Multiple anomalous copper intersections (best 0.25m @ 1.54% Cu) Key focus of exploration to date and for 2011

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Springfield Project – Monty

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Located in Central Corridor

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Supportive multi-element geochemistry Visible chalcopyrite mineralisation identified in drilling Initial traverse drilled 2010 Widespread Cu-Au anomalism (best 40m @ 0.05% Cu & 4m @ 0.3g/t Au) Drilling currently underway

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Springfield Project – CC-02

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Located at western end of Central Corridor

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Supportive multi-element geochemistry

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2 coincident surface EM and gravity anomalies identified

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2 diamond drill holes (2010) did not explain geophysical anomalies

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Follow-up drilling planned first half 2011 – DD & RC

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Springfield Project – Surface Geophysics

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Surface Moving-Loop Electromagnetic (MLEM) Survey Detailed surface Gravity Survey, to cover Northern and Central Corridors

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Northern Projects – Shelby

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Primary Exploration Target – Mafic / Ultramafic Intrusion Related Ni-Cu-PGE State Govt (EIS) Co-funding of initial Diamond Drilling commencing April 2011 Targeting Based on Detailed Magnetic and Gravity Data Modelling Giant Province Scale Exploration Project - Targeting intrusive related Ni-Cu-PGE Deposits “First Mover Opportunity” Regional Geophysical Surveys commencing April 2011

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Northern Projects – Shelby

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Northern Projects – Milgun

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Narracoota Formation „day-lighting‟ through younger Bangemall Basin cover Copper-Gold mineralisation potential Outcropping copper mineralisation (rock-chips to 2.1% Cu)

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Bryah Basin Region Exploration - Summary

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Prospective region for Copper-Gold mineralisation – an emerging “Camp”? Targeting Large Scale Ni, Cu, Au Deposits in Gascoyne Region

Aggressive, focused exploration program in place - planned $10m exploration budget Continuing to assess new regional opportunities

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Targeted exploration at Springfield Cu-Au Project Progress exploration at Shelby-Milgun-Halloween Projects Expansion of Talisman‟s footprint in the Bryah Basin New growth opportunities Funding capacity Execution capability Focus on quality assets remains Developing a project pipeline

ASX Code: TLM

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Resources Rising Stars Luncheon Presentation - April 2011

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