June 28 (Reuters) - New Talisman Gold Mines Ltd NTL.NZ :
* NTL executes binding agreement with Newcrest
* Executed a binding agreement over rahu project with Newcrest International
pty ltd subsidiary of Newcrest Mining Limited
* Agreement include should Newcrest spend NZ$5.0 million on rahu project a jv will be established at that time and a direct 20% interest transferred to NTL
* If a joint venture is not established 100% of the project would be
transferred to NTL subject to ministerial consent
* Says under deal Newcrest will manage the exploration activity on the Rahu
project
* Source text for Eikon ID:nNZW8xGKS8