SOURCE: Talisman Holdings, Inc.

March 10, 2011 08:00 ET

Talisman Holdings Is "Going for the Gold" With Participation in Peruvian Mining Interests

SPRINGFIELD, OH--(Marketwire - March 10, 2011) - Talisman Holdings, Inc. (PINKSHEETS: TMHO), a diversified holding company, announced that it has entered into a preliminary agreement with Caribbean Peruvian Gold Mines Export S.A. with respect to a joint venture on gold property in Peru.

This agreement signals Talisman's entry into the precious metals field, and is a strategic move to create participation in the dynamic Peruvian gold market. Peru's favorable mining policies produce an encouraging investment climate. This conducive attitude, coupled with Peru's rich gold history and geology, make it an attractive gold exploration opportunity for the Company.

The targeted property is located from 2,300 to 3,800 metres above sea level, in an area of intense and favorable mining activity, and encompasses an area of 400 hectares.

Presently, the property is in limited production, with results to date, coupled with a geological survey, indicating a successful find with a highest quality per ton rating.

The Company will be sending a team to Peru to undertake a further due diligence inspection of the property and review supporting documentation. The Company has up to 60 days to complete its due diligence and enter into a final and definitive joint venture agreement during which period the final terms will be negotiated by the parties.

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

David Long, Talisman President, commented: "We are focusing on acquisition, discovery and development of gold and precious metals worldwide. We believe this project, based on all preliminary indications, will be most successful and will serve to drive shareholder value. We are confident we're participating in a fantastic, underdeveloped opportunity."

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 provide 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