Quarterly Cash Flow Update NZX Appendix 11

QUARTERLY REPORT OF CONSOLIDATED CASH FLOWS
NEW TALISMAN GOLD MINES LIMITED
For Quarter ended 31 March 2014
(Referred to in this Quarter as the "Current Quarter")

Quarterly Report of Consolidated Cash Flows in accordance with Listing Rule 10.10.4. These figures are based on accounts which are *unaudited. If these figures are based on audited accounts, a statement is required of any material qualification made by the auditor. The Mining Issuer *has a formally constituted Audit Committee of the Board of Directors. Current           Quarter              $NZ Year to Date        (12 Months)               $NZ
1. CASH FLOWS RELATING TO OPERATING ACTIVITIES (a)   Receipts from product sales and related debtors (b)   Payments for exploration and evaluation for development for production for administration (c)   Dividends received (d)   Interest and other items of a similar nature received (e)   Interest and other costs of finance paid (f)    Income taxes paid (g)   Other (provide details if material) Nil (186,206) Nil (181,523) Nil 4,226 Nil Nil Nil Nil (598,829) Nil (726,459) Nil 10,460 Nil Nil 1,050
(h)NET OPERATING CASH FLOWS (363,503) (1,313,778)
2. CASH FLOWS RELATED TO INVESTING ACTIVITIES (a)     Cash paid for               purchases of prospects                                                     equity investments                                                      other fixed assets (b)     Cash proceeds from   sale of prospects                                                      equity investments                                                     other fixed assets (c)   Loans to other entities (d)   Loans repaid by other entities (e)   Other (provide details if material) - Sale of share investments Nil Nil (100) Nil Nil Nil Nil Nil Nil Nil Nil (2,248) Nil Nil Nil (5,236)                325        428,677
(f)    NET INVESTING CASH FLOWS (100) 421,518
3. CASH FLOWS RELATED TO FINANCING ACTIVITIES (a)   Cash proceeds from issues of shares, options, etc (b)   Proceeds from sale of forfeited shares (c)   Borrowings (d)   Repayments of borrowings (e)   Dividends paid (f)    Other (provide details if material) 23,856 Nil Nil Nil Nil           Nil 927,241 Nil Nil Nil Nil           Nil
(g)   NET FINANCING CASH FLOWS 23,856 927,241
4. (a)   *NET INCREASE (DECREASE) IN CASH HELD (b)   Cash at beginning of quarter/year to date (c)   Exchange rate adjustments to Item 4(a) above (339,747) 682,570         (8,078) 34,981 325,880         (26,116)
(d)   CASH AT END OF QUARTER 334,745 334,745

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  1. NON-CASH FINANCING AND INVESTING ACTIVITIES

(a)     Provide details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows:
       Nil……………………………………………………………………………………………..……………………………………
 
      (b)    Provide details of outlays made by other entities to establish or increase their shares in projects in which the reporting entity has an interest.
 
          Nil…………………….................................................................................................................................................…..
 
.

  1. FINANCING FACILITIES AVAILABLE
Provide details of used and unused loan facilities and credit standby arrangements, adding such notes as are necessary for an understanding of the position. Amount Available                      $NZ Amount Used                      $NZ
N/A.............................................................……………….
..........................................................................................
..........................................................................................
7. ESTIMATED OUTLAYS FOR SPECIFIED QUARTERS Current Quarter#                      $NZ Following Quarter                      $NZ
(a)   Exploration and evaluation 200,000 150,000
(b)   Development Nil Nil
TOTAL 200,000 150,000

#       The outlays to be shown in this column are the estimates made for this quarter in the previous quarterly report. Where these estimates differ by more than 15% from the actual outlays reported in Item 1(b) of this report, provide an explanation of the reason(s) for these differences as an attachment to this report – see Annexure 1.

  1. RECONCILIATION OF CASH

For the purposes of this statement of cash flows, cash includes
Petty cash, WestpacTrust cheque account and NAB Australian dollar cheque account

Cash at the end of the quarter as shown in the statement of cash flows is reconciled to the related items in the amounts as follows: Current Quarter                     $NZ Previous Quarter                      $NZ
Cash on hand and at bank 61,818 429,974
Deposits at call and Term Deposits 167,927 167,596
Bank overdraft Nil Nil
Other (provide details) - Bond 105,000 85,000
TOTAL = CASH AT END OF QUARTER [Items 4(d)/4(b)] 334,745 682,570

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  1. CHANGES IN INTERESTS IN MINING TENEMENTS
Tenement          Reference Nature of            Interest Interest at Beginning          of Quarter Interest at End          of Quarter
(a) Interests in mining          tenements relinquished,     reduced and/or lapsed None
(a)  Interests in mining                   tenements acquired                  and/or increased None

(c)   Where changes are reported in (a) and/or (b), an amended list of interests in mining tenements is attached to this statement – refer Annexure 2

  1. ISSUED AND QUOTED SECURITIES AT END OF CURRENT QUARTER
Category of Securities Number Issued Number Quoted Paid-Up Value Cents
PREFERENCE SHARES Nil Nil
ORDINARY SHARES 38,623,000 38,623,000 25c
10,000,000 10,000,000 3.8c
20,000,000 20,000,000 5.9c
5,000,000 5,000,000 10c
186,400 186,400 25c
1,000,000 1,000,000 5.5c
7,200,000 7,200,000 5c
12,000,000 12,000,000 AUD 8c
14,000,000 14,000,000 AUD 8c
16,666 16,000 9c
33,333 33,333 9c
23,500,000 23,500,000 5c
23,333 23,333 8.5c
16,667,000 16,667,000 AUD 2.5c
24,420,201 24,420,201 2.9c
5,250,936 5,250,936 2.9c
7,391,296 7,391,296 2.9c
5,556 5,556 8.3c
8,500,000 8,500,000 AUD 3.5c
10,000 10,000 10c
2,500,000 2,500,000 AUD 3.5c
11,500,000 11,500,000 AU 3.5c
5,725,184 5,725,184 8.3c
53,814,303 53,814,303 AU 4.5c
9,000,000 9,000,000 AU 4.5c
2,500,000 2,500,000 AU 3.5c
8,836,112 8,836,112 AU 4.5c
55,849,868 55,849,868 NZ 3.5c or AU 2.8c
16,001,360 16,001,360 NZ 1.9c or AU 1.5c
119,851,516 119,851,516 NZ 1.3c or AU 1.0c
49,410,000 49,410,000 AU 1.1c
35,067,437 35,067,437 NZ 1 cent or AU 0.86c
2,000,000 2,000,000 AU 1.1 cent
565,883,501 565,883,501
SHARES Issued during current quarter: 2,000,000 2,000,000 AU 1.1 cent
Page three   CONVERTIBLE NOTES: Nil Nil
Issued during current quarter Nil Nil
OPTIONS:   Quoted   Issued during current quarter   Expired during current quarter   Not quoted and not transferable   Exercised during current quarter   Issued during current quarter   Expired during current quarter 119,851,516     Nil   Nil     4,000,000 4,500,000   2,000,000     Nil     Nil 119,851,516     Nil   Nil     Nil Nil   2,000,000     Nil Expiry Date   28 November 2017               11 November 2018 13 November 2018
WARRANTS: Nil Nil
DEBENTURES – totals only: Nil Nil
UNSECURED NOTES – totals only: Nil Nil

Sue Sangster (Company Secretary)                                                                      
               Authorised Officer of Listed Issuer              
                30 April 2014    
NZX Appendix 11 Consolidated Cash Flow