Slide 1: Cowal Site Visit
For personal use only Cowal Site Visit 9 November 2016
Slide 2: Forward looking statement
For personal use only Forward looking statement These materials prepared by Evolution Mining Limited (or “the Company”) include forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expe
Slide 3: Overview: Growth and Transformation
Overview For personal use only Growth Ore Reserves increased from 1.56Moz to 2.85Moz (+83%) under Evolution ownership Expansion of E42 pit prioritised E42 Stage H cutback resource definition drilling program near completion Current life of mine plan (LOMP) includes Stage H cutback to access
Slide 4: Location
Location For personal use only Kalgoorlie 20km 4
Slide 5: Overview
Overview Residential workforce For personal use only Workforce: 265 employees and 90 contractors Location Approximately 40km north-east of West Wyalong in New South Wales, Australia Shift roster: 7:7 Mining method Conventional open pit Mining commenced 2005 and processing 2006 Minerals Gold
Slide 6: Cowal performance and outlook
Cowal performance and outlook FY16 performance For personal use only Gold production of 237,940 ounces (from ~11 months of ownership) AISC1 of A$776 per ounce Net mine cash flow of A$146 million FY17 guidance Gold production guidance of 245,000 – 260,000 ounces AISC of A$885 – A$945 per ou
Slide 7: Business improvement
Business improvement Organisational restructure For personal use only 7% reduction in workforce – cost saving of A$3.6M/year Implementation of planning and development team to drive asset growth & transformation o Wall steepening to unlock reserve potential (IRA now at 61 ) OR increased by 7
Slide 8: Pit design – wall steepening
Pit design – wall steepening For personal use only Kalgoorlie 20km 8
Slide 9: Ore Reserves and Mineral Resources
Ore Reserves and Mineral Resources For personal use only Cowal Reserve & Resources as a function of pit design Barrick Dec 2014 Dec to Evolution Dec 2015 Reserve/Resource Ounces (koz) 6,000 272 202 5,000 448 725 4,000 900 350 201 3,000 471 155 76 309 5,046 2,000 2,848 1,000 2,181 1,555 0 Barrick Dec
Slide 10: E42 Stage H cutback
E42 Stage H cutback For personal use only Kalgoorlie 20km 10
Slide 11: E42 resource definition drilling
E42 resource definition drilling For personal use only E42D1718 Stage H Drilling completed E42D1716 Stage I drilling completed E42D1714 E42D1712 Stage I drilling in progress E42D1710 Stage I drilling planned E42D1711 E42D1713 Discovery Framework drilling in progress E42D1715 E42D1717 Discovery Frame
Slide 12: E42 pit shells and contained ounces
E42 pit shells and contained ounces For personal use only Indicated and Inferred Unclassified Ore Waste Resources Resources movement movement (koz) (koz) (Mt) (Mt) Stage G 1,250 3 27.7 8.3 Stage H1 1,250 90 36.1 104.3 A$1,800/oz shell 725 85 Total 3,225 178 Kalgoorlie 20km 1. Ore and Waste movements
Slide 13: E42 Stage H cutback – recent drill results
E42 Stage H cutback – recent drill results For personal use only Kalgoorlie 20km Reported intervals are down hole widths as true widths are not currently known. The information above is provided in the report entitled “September 2016 Quarterly Report” released to the ASX on 17 October 2016 and avail
Slide 14: E42 – recent drill results
E42 – recent drill results For personal use only Reported intervals are down hole widths as true widths are not currently known. The information above is provided in the report entitled “September 2016 Quarterly Report” released to the ASX on 17 October 2016 and available to view at www.asx.com.au 1
Slide 15: E42 drill results summary
E42 drill results summary Total of 83 RC and diamond drill holes for 43,000 meters drilled by 30 Sept 2016 For personal use only Confirmed continuity of mineralisation within Stage H cutback design Potential for increase in grade of current Mineral Resource Step-out holes have intersected ne
Slide 16: Drilling beyond E42
Drilling beyond E42 Satellite pits For personal use only Defining the extents of E41, E46 and Regal-Galway deposits to inform future studies on lake bund placement and infrastructure and provide additional information for future resources and reserves ~2,000m DD & 2,700m AC completed in FY16 w
Slide 17: Near mine resource definition
Near mine resource definition For personal use only Kalgoorlie 20km 17
Slide 18: Long term regional optionality
Long term regional optionality Marsden acquisition For personal use only Copper-gold porphyry deposit Nearest known sizable mineral deposit to Cowal Long-term strategic value to Evolution’s regional exploration activities 1 Resource : 180Mt grading 0.20g/t Au and 0.38% Cu containing 1.1Moz
Slide 19: Planning and development
Planning and development Immediate focus (FY17): For personal use only E42 resource definition drilling (Stage H & beyond) E42 Stage H Feasibility Study Dual Leach Feasibility Study Targeting recovery increase of 5% to 7% Approvals | Mod 13 to development consent Longer term focus: P
Slide 20: Permitting
Permitting Current permit – Mod 12 For personal use only Operations currently approved to 31 December 2024 with plant throughput limited to 7.5Mtpa Stage H can be commenced with Mod 12 New permit required for current LOMP – Mod 13 Mod13 required to underpin current LOM (including Stage H) Ta
Slide 21: A transformational asset
A transformational asset Substantial potential to grow and transform asset For personal use only Development path now well understood (interdependencies, approvals and priorities) Demonstrated commitment to growing and transforming asset (drilling & studies) Prioritising E42 Stage H cut back
Slide 22: Appendix
For personal use only Appendix
Slide 23: Cowal Mineral Resources Dec 2015
Cowal Mineral Resources Dec 2015 For personal use only Cowal Mineral Resources - December 2015 Measured Indicated Inferred Total Resource Mineral Resource Cont. Tonnes Grade Cont. Metal Tonnes Grade Cont. Metal Tonnes Grade Cont. Metal Tonnes Grade Metal Au (Mt) Au (g/t) Au (koz) (Mt) Au (g/t) Au (k
Slide 24: Cowal Ore Reserves Dec 2015
Cowal Ore Reserves Dec 2015 For personal use only Cowal Ore Reserves - December 2015 Proved Probable Total Reserve Cut-off Cont. Ore Reserve Tonnes Grade Au Cont. Metal Tonnes Grade Au Cont. Metal Tonnes Grade Au (g/t Au) Metal Au (Mt) (g/t) Au (koz) (Mt) (g/t) Au (koz) (Mt) (g/t) (koz) E42 oxide 0.
Slide 25: Evolution Mineral Resources Dec 2015
Evolution Mineral Resources Dec 2015 Gold Measured Indicated Inferred Total Resource Gold Competent For personal use only Tonnes Gold Grade Tonnes Gold Gold Metal Tonnes Gold Gold Metal Tonnes Gold Gold Metal Project Type Cut-Off Metal Person (Mt) (g/t) (Mt) Grade (g/t) (koz) (Mt) Grade (g/t) (koz)
Slide 26: Evolution Ore Reserves Dec 2015
Evolution Ore Reserves Dec 2015 Gold Proved Probable Total Reserve For personal use only Competent Tonnes Gold Grade Gold Metal Tonnes Gold Gold Metal Tonnes Gold Gold Metal Project Type Cut-Off Person (Mt) (g/t) (koz) (Mt) Grade (g/t) (koz) (Mt) Grade (g/t) (koz) Cowal1 Open pit 0.4 39.93 0.71 906
Slide 27: Evolution Copper MROR Dec 2015
Evolution Copper MROR Dec 2015 December 2015 Copper Group Mineral Resources Statement For personal use only Copper Measured Indicated Inferred Total Resource Copper Copper Copper Copper Competent Tonnes Copper Tonnes Copper Tonnes Copper Tonnes Copper Person Project Type Cut-Off Metal Metal Metal Me
Slide 28: Cowal historic plant performance
Cowal historic plant performance For personal use only Mt koz 298 297 10.0 300 Thousands 269 268 267 9.0 258 240 250 233 8.0 191 7.0 7.2 7.4 7.3 7.4 7.2 7.0 7.0 200 7.0 6.6 6.0 5.0 150 116 4.0 3.6 100 3.0 2.0 50 1.0 0.0 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Tonnes Processed Gold recove
Slide 29: Process equipment
Process equipment Power supplied by AGL For personal use only Crushing Primary crushing: Metso 54-75 Superior MK-II gyratory crusher Grinding FFE 36’ x 20.5’ SAG mill, FFE 22’ x 36.5’ ball mill Forged steel 125mm balls (SAG), 80mm balls (ball mill) Screening Schenck Vibrating screens
Slide 30: Process flowsheet
For personal use only Process flowsheet 30
Slide 31: Mining fleet
Mining fleet Haulage/mine trucks Shovels/excavators/loaders For personal use only − 14 x Cat 789 dump trucks − 2 x Liebherr 994B hydraulic − 3 x Cat 785C dump trucks excavators Drilling equipment − 1 x Hitachi EX3600 excavator − 2 x Atlas Copco D65 (Hired) − 2 x CAT992G loaders − 2 x Terex SKF
Slide 32: Cowal history
Cowal history For personal use only Gold first NSW government Cowal Gold Poject is Construction Cowal Gold Operation is discovered in West issues sold to Homestake commences on granted extension of mine Wyalong area Development Mining Cowal Gold life through to 2024 Consent conditions Project for th
Slide 33: Evolution Mining
For personal use only Evolution Mining ASX Code: EVN www.evolutionmining.com.au