Talisman Mining (TLM) investor relations material

Executive summary

• Aircore drilling at East Peak Hill and Walkers Hill Gold Projects in NSW confirmed strong potential for new gold discoveries, with significant shallow gold mineralisation intersected at Sheepyard within Walkers Hill.

• Maiden 5,546m aircore program at East Peak Hill tested a 4.5km trend, returning anomalous gold and pathfinder minerals, with further assays pending.

• Royalty cash receipts of $0.79 million were received from the Wonmunna Iron Ore Project for the quarter.

Financial highlights

• Cash on hand at 31 March 2026 was $3.54 million.

• Total royalty payments from Wonmunna Iron Ore since March 2021 reached $35.0 million.

• Exploration and evaluation expenditure for the quarter totaled $1.01 million.

• Net cash used in operating activities for the quarter was $(484)k, with a net decrease in cash of $(497)k from the previous quarter.

Outlook and guidance

• Follow-up aircore drilling at Sheepyard is planned for the June quarter to test the extent of near-surface gold mineralisation.

• Additional geophysics and RC drilling at Walkers Hill may follow later in 2026.

• Further aircore drilling at East Peak Hill is planned to infill and extend lines where access was previously restricted.

• Royalty payments from Wonmunna are expected to wind down as mining ceases and stockpiles are depleted.