F o c u s e d A u s t r a l i a n m i n e r a l r e s o u r c e s c o m p a n y 1

F o c u s e d A u s t r a l i a n m i n e r a l r e s o u r c e s c o m p a n y

Discovering & Developing Opportunities in Copper-Gold and Nickel

Investor Presentation July 2016 - Dan Madden, Managing Director

Disclaimer

This presentation has been prepared by Talisman Mining Ltd.

This document contains background information about Talisman Mining Ltd current at the date of this presentation. The presentation is in summary form, has not been independently verified and does not purport be all inclusive or complete nor does it contain all the information that a prospective investor may require in evaluating a possible investment in Talisman Mining Ltd or its assets.

Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of securities in any jurisdiction. This document is not a prospectus and does not contain all of the information which would be required to be disclosed in a prospectus. This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction.

This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek their own professional, legal, tax, business and/or financial advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, Talisman Mining Ltd and its related bodies corporate, its directors, officers, employees and representatives (including its agents and advisers), disclaim all liability and take no responsibility for any part of this presentation, or for any errors in or omissions from this presentation arising out of negligence or otherwise and do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts, conclusions or other representations contained in this presentation. This presentation may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Talisman Mining Ltd's current expectations, estimates and assumptions about the industry in which Talisman Mining Ltd operates, and beliefs and assumptions regarding Talisman Mining Ltd's future performance. Words such as "anticipates", "expects", "intends", "plans", "believes", "seeks", "estimates", "potential" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are only predictions and are not guaranteed, and they are subject to known and unknown risks, uncertainties and assumptions, some of which are outside the control of Talisman Mining Ltd. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Talisman Mining Ltd does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based.

Competent Person's Statement

Information in this presentation that relates to Exploration Results and Exploration Targets as defined under the 2012 Edition of the "Australian Code for Reporting of Mineral Resources and Ore Reserves", is based on information compiled by Mr Anthony Greenaway, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Greenaway 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 2012 Edition of the "Australian Code for Reporting of Mineral Resources and Ore Reserves". Mr Greenaway consents to the inclusion in this report of the matters based on information in the form and context in which it appears. (Please also see Appendix 1).

Dan Madden - Managing Director

► Previous CFO and Co Sec of Talisman 2009-April 2016.

► +15 years' experience in the resources sector across base & precious metals from exploration to operations.

Tony Greenaway - General Manager Geology

► +25 years' experience conducting and managing exploration from grass roots evaluation to advanced feasibility studies.

► Base & precious metals across a broad range of mineralisation styles.

Shaun Vokes - Chief Financial Officer & Company Secretary

► +25 years' experience in senior operational and management roles.

► Project evaluation, financing, business development, contract negotiation and metals marketing.

Ben Wilson - General Manager Project Development

► +20 years' experience in the mining industry across multiple commodities.

► Project evaluations, feasibility study management, project development and management of mining operations.

"Maximise value to shareholders through exploration, discovery and development of opportunities in base & precious metals".

OWNERSHIP

► Behave and act as businessowners

► Be accountable for ourdecisions

and actions

► What we say is what wedo

► We are custodians of our shareholders' capital

► We seek to maximise the value of our significant assets in highly prospective mineral provinces

► We pursue opportunities to create value which are complementary to our assets, experience and expertise

ENGAGEMENT

► Engage with stakeholders in meaningful and clear way

► Cultivate beneficial two-waycommunication

► Share our journey to createvalue

for all stakeholders

RELATIONSHIPS

► Develop mutuallybeneficial

partnerships and opportunities

► Build strong commitment across our team and with stakeholders

► Collaborative approach to build solidrelationships

Underpinned by a responsible approach to Health & Safety, Environment and Community