Slide 1: Ernest Henry Site Visit
ERNEST HENRY SITE VISIT For personal use only 24 March 2022
Slide 2: Forward Looking Statement
FORWARD LOOKING STATEMENT For personal use only 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”, “expect
Slide 3: Acknowledgement of Country
For personal use only Acknowledgement of Country "Evolution would like to acknowledge the Traditional Custodians of the land on which we operate and on which we meet today, the Mitakoodi People, and pay our respects to Elders past, present, and emerging, for they hold the memories, the traditions, t
Slide 4: Overview
OVERVIEW For personal use only Ownership 100% Evolution 38km north-east of Cloncurry, Queensland, Location Australia Operation extends across 8 current mining Property leases: ML2671, ML90041, ML90072, ML90085, ML90100, ML90107, ML90116, ML90075 Mining method Underground, sub-level caving Owner-Mine
Slide 5: Sustainability
SUSTAINABILITY D E L I V E R I N G L O N G - T E R M S TA K E H O L D E R VA L U E T H R O U G H S A F E , L O W- C O S T G O L D P R O D U C T I O N I N A N E N V I R O N M E N TA L LY A N D S O C I A L LY R E S P O N S I B L E M A N N E R For personal use only Risk & Safety performance Lost Time I
Slide 6: Excellent Returns from Original Investment
EXCELLENT RETURNS FROM ORIGINAL INVESTMENT Cumulative Mine Cash Flow (A$M) For personal use only November January 1,248 ~5 years 2016 2022 A$880M 1,089 original investment A$880M ~A$1.25B of 780 A$1B Acquisition of total net mine to acquire full 523 Economic cash flow as ownership1 Interest1 at H1 F
Slide 7: Ernest Henry Site Layout
ERNEST HENRY SITE LAYOUT North For personal use only Dump ROM Concentrator Portal Offices Shaft Tailings Dam South Dump 7
Slide 8: Transition to SLC
TRANSITION TO SLC UNDERGROUND MINE COMMENCED 2008 For personal use only Construction of underground mine and associated infrastructure included: 6km access decline – first cut taken Feb 2008 Construction of 75m high permanent headframe to house the hoisting system 1km-deep shaft and ore hois
Slide 9: Excellent Potential for Further Growth
EXCELLENT POTENTIAL FOR FURTHER GROWTH For personal use only Pre-feasibility Study (PFS) on a mine extension beyond FY26 underway due for completion end of calendar year 2022 Proposed mine extension from 1125RL to 775RL Prior Concept Study extension was limited by geological knowledge which de
Slide 10: Cave Reorientation
CAVE REORIENTATION For personal use only EHO main cave orebody is changing shape with depth Current longitudinal mining layout contains a reduced number of crosscuts at an extended length, impacting productivity and operational flexibility A reorientation of the cave had been identified at the
Slide 11: Processing
PROCESSING For personal use only Single-line concentrator incorporating: Milling Capacity Current design 8.5Mtpa, Grinding – 3 mills: SAG, Ball & Vertimill currently processing ~7Mtpa Flotation – single line rougher, 3 stages of Infrastructure SAG Mill cleaning flotation Ball Mill Flotation Ce
Slide 12: Excess Concentrator Capacity
EXCESS CONCENTRATOR Operating mine CAPACITY Processing facility For personal use only Current concentrator configuration capacity is ~8.5Mt with ~6.5Mt of feed from Ernest Henry Options exist to fill excess concentrator capacity Ore has been milled from four different sources since 2013 in ded
Slide 13: Key Takeaways
KEY TAKEAWAYS World class infrastructure For personal use only Long history of successful operation as an open pit and underground mine Extension below 1200mRL provides material additional mine life Strong relationship with the community and Traditional Owners 13
Slide 14: Evolution Mining
For personal use only Evolution MINING
Slide 15: A Brief History
A BRIEF HISTORY For personal use only Major Underground Project Milestones 2008 2009 2011 2014 2015 2016 - 2018 - December December May Ongoing 2017 February optimisation of LOM Fired first cut EHO shaft Completed Hoisted first 2016: 6.39Mtpa Maintained in decline hoisting mine open pit ore via shaf
Slide 16: Underground Mining Flow Sheet
UNDERGROUND MINING FLOW SHEET For personal use only Sub Level Cave Hoisting System 2 Loader Transfer Levels Winder System (5.5MW Drive) Ore Passes Crushing System Transfer Level Loaders Conveyor Transfer System Crusher (Thysen Krupp Apron Feeder Gyratory) – 1200tph Overland Conveyor –
Slide 17: Processing Flow Diagram
PROCESSING FLOW DIAGRAM For personal use only 17
Slide 18: Tailings Configuration
TAILINGS CONFIGURATION For personal use only Turkey’s Nest Tailings Dam Design Capacity ~3 million m3 at 15 March 2022 (~5 months storage) South Cell construction underway, scheduled completion May 2022 – adding 18 months of additional storage Upstream lifts completed every 14 months based
Slide 19: Evolution 2021 Gold Mineral Resources
EVOLUTION 2021 GOLD MINERAL RESOURCES Gold Measured Indicated Inferred Total Resource For personal use only Gold Gold Gold Gold Gold Gold Gold Gold Tonnes Tonnes Tonnes Tonnes CP5 Project Type Cut-Off Grade Metal Grade Metal Grade Metal Grade Metal (Mt) (Mt) (Mt) (Mt) (g/t) (koz) (g/t) (koz) (g/t) (
Slide 20: Evolution 2021 Gold Ore Reserves
EVOLUTION 2021 GOLD ORE RESERVES For personal use only Gold Proved Probable Total Reserve Competent Tonnes Gold Gold Metal Tonnes Gold Grade Gold Metal Tonnes Gold Gold Metal Person6 Project Type Cut-Off (Mt) Grade (g/t) (koz) (Mt) (g/t) (koz) (Mt) Grade (g/t) (koz) Cowal1 Open pit 0.45 23.9 0.46 35
Slide 21: Evolution 2021 Copper Reserves & Resources
EVOLUTION 2021 COPPER RESERVES & RESOURCES Group Copper Mineral Resource Statement For personal use only Copper Measured Indicated Inferred Total Resource Copper Copper Copper Copper CP1 Tonnes Copper Tonnes Copper Tonnes Copper Tonnes Copper Project Type Cut-Off Metal Metal Metal Metal (Mt) Grade (
Slide 22: Evolution Mining
For personal use only Evolution MINING