SOURCE: Talisman Holdings, Inc.

March 14, 2011 08:00 ET

Talisman Enters Into Letter of Intent for Promising Gold Property in Guyana

SPRINGFIELD, OH--(Marketwire - March 14, 2011) -  Talisman Holdings, Inc. (PINKSHEETS: TMHO) moved to further its position in international commodities by entering into a letter of intent with H20 Power Technology, Inc., which holds an interest in extremely promising Guyanian gold concessions. In Guyana, the government controls all mining and issues concessions to stimulate jobs, move people further inland and generate a tax base from natural resources.

H20 Power Technology owns an interest in 66 Guyanian gold concessions which cover a total of 77,954 acres in known gold and diamond territory, and is the operator of the concessions.

Under the terms of the agreement, Talisman will take a stake in and initially participate in the development of 6 of the 66 concessions, with options for participation in the others in the course of development. It should be noted that the land is heavily timbered, and the concessions include timber rights incidental to mining activity.

The Company will be sending representatives to Guyana to quantify and prioritize gold exploration targets, and design the initial work program, and has up to 120 days to complete its due diligence and enter into a final contract.

Detailed announcements with respect to this project and additional gold properties will be made in due course.

David Long, Talisman President, stated: "This agreement is the culmination of months of hard work, and we are delighted to increase our exposure in South America. We intend to build on our existing base of exploration properties by targeting other gold consolidation opportunities in the Americas. Our goal is to be a low cost gold producer with geographic diversification and low political risk operating in a responsible manner with our neighbors and the environment."

About Talisman Holdings:

Talisman Holdings, Inc. (PINKSHEETS: TMHO) is a highly innovative holding company built on the belief that the world's greatest potential for financial growth lies in emerging companies. Talisman Holdings finds undervalued small and microcap businesses with breakthrough products, services and technologies and delivers the equity, financial guidance, strategic counsel, consulting and business functions they need in order to succeed in the public marketplace. Taking an ownership or equity stake in standout emerging growth companies creates assets and drives shareholder value for Talisman Holdings, and the diversified holding company organizational structure and range of industries provides diversity of risk. For more information please visit Talisman's website at www.talismanholdings.com.

FORWARD-LOOKING DISCLAIMER

This summary contains forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These statements address future events and conditions concerning the Company's business plans. Such statements are based on management's current expectation and are subject to a number of factors and uncertainties, such as future economic conditions and changes in anticipated revenues and costs, which may cause actual results to differ materially. The Company expressively disclaims any future obligation or undertaking to update or revise any forward-looking statements contained herein. Investors and potential investors should independently investigate and fully understand all risks before making investment decisions.

Contact Information

  • For more information contact us at:
    Talisman Holdings, Inc.
    3035 Colony Lane
    Springfield, OH 45503
    Phone/fax (937) 342-0383
    info@talismanholdings.com