Slide 1: Northparkes site visit presentation
Inspired people creating a premier global gold company For personal use only Northparkes site visit presentation 19 June 2024
Slide 2: Forward looking statement
Forward looking statement These materials prepared by Evolution Mining Limited ('Evolution' 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', 'intend
Slide 3: Acknowledgement of Country
Acknowledgement of Country For personal use only Evolution Mining acknowledges the Wiradjuri peoples of Upper Bogan River Country as the Traditional Custodians of the lands on which we operate and pay our respects to their Elders past and present. We recognise their strengths and ongoing connection
Slide 4: Values share
Values share For personal use only Our values Safety Excellence Accountability Respect 4
Slide 5: Jake Klein, Executive Chair
Jake Klein For personal use only Executive Chair
Slide 6: Introductions
Introductions Northparkes site visit For personal use only Jake Klein Lawrie Barrie van Matt O’Neill Nancy Guay Glen Rob Executive Conway der Merwe Chief Chief Masterman Cunningham Chair Managing Chief Operating Technical VP Discovery General Director and Financial Officer Officer Manager Chief Offi
Slide 7: Portfolio well positioned
For personal use only Portfolio well positioned High cash generation and deleveraging Focus on operational delivery Team is in place 7
Slide 8: Lawrie Conway, Managing Director and CEO
Lawrie Conway For personal use only Managing Director and CEO
Slide 9: Northparkes: a compelling acquisition
Northparkes: a compelling acquisition ▪ Delivering on due diligence opportunities Copper production Net mine cash flow MQ 2024 MQ 2024 For personal use only ▪ World class resource ▪ Potential to extend mine life well beyond 30 years Northparkes Northparkes 37% 27% ▪ Increased copper exposure in a fa
Slide 10: Northparkes: Exceeding early expectations
Northparkes: Exceeding early expectations ▪ Generating cash from day 1 Net mine cash flow ($M)1 ▪ Delivered $60M in first 5½ months For personal use only ▪ 1 IMMEDIATE CASH ▪ Operating costs and capital better than plan Copper benefit 131 GENERATION ▪ Production of 25kt per year 60 ▪ Copper price up
Slide 11: Lots of options
Lots of options ▪ E48 SLC Site layout ▪ Compelling, low risk production source For personal use only ▪ Fills a period of potential lower production ▪ Delivers incremental NPV of $65-165M at IRR of 26-50% ▪ Moves E22 back 2-3 years ▪ Captures material that would be diluted in next lift ▪ E22 ▪ Block
Slide 12: Rob Cunningham, General Manager Northparkes
Rob Cunningham For personal use only General Manager Northparkes
Slide 13: Northparkes leadership team
Northparkes leadership team Northparkes site visit For personal use only Rob Sergio Johannes Stacey Kelly Mitch Glenn Nathan Cunningham Melloni Ferreira Manager Garside Pearson Welsh General Manager Manager People, Safety Manager Ore Manager Manager Manager Technical Mining and Processing Commercial
Slide 14: Sustainability integrated into everything we do
Sustainability integrated into everything we do For personal use only 14
Slide 15: Northparkes
Northparkes For personal use only Location Approximately 27km north-west of Parkes in New South Wales, Australia Property Mining Lease (MLs 1247, 1367, 1641, 1743) encompasses an area of 2,673 hectares Commencement Mining commenced 1993 and processing 1994 Mining method Conventional open pit and und
Slide 16: Mining overview
Mining overview Underground operations Site overview For personal use only ▪ E48 − First lift (E48L1) completed December 2023 − Sub level cave (SLC) due to be executed from FY25, benefitting from existing infrastructure − First fully automated underground mining operation ▪ E26 − E26 mining areas co
Slide 17: Processing overview
Processing overview Processing overview Processing plant For personal use only ▪ General New surface − Plant includes surface crusher, stockpiles, grinding mills, froth flotation secondary area and concentrate storage crushing and − Traditional sulphide flotation process is used to produce a copper
Slide 18: Northparkes operating and financial performance
Northparkes operating and financial performance Northparkes performance CY20231 CY2024 Units metrics MQ23 JQ23 SQ23 DQ23 MQ24 For personal use only Operational Ore processed kt 1,481 1,427 1,356 1,557 1,340 Copper grade % 0.52 0.54 0.59 0.62 0.67 Gold grade g/t 0.14 0.16 0.16 0.17 0.28 Copper recove
Slide 19: Sergio Melloni, Manager Technical Services
Sergio Melloni For personal use only Manager Technical Services
Slide 20: Multiple mining fronts with optionality
Multiple mining fronts with optionality ▪ Multiple large-scale porphyry copper deposits Mining sequence suitable to cave mining methods For personal use only ▪ Multiple ore sources provide great flexibility in timing of production ▪ Near term production from well-established caves (E26 & E48) Open p
Slide 21: E48 – Sub level cave (SLC) option
E48 – Sub level cave (SLC) option Concept study to PFS ▪ Beneficial returns for a low capital investment E48 SLC CONCEPTUAL DESIGNS ▪ 15.2Mt1 @ 0.61% Cu and 0.41g/t Au1 For personal use only ▪ 4 sub levels ▪ Utilises existing infrastructure, including crusher ▪ Allows recovery of a higher-grade sect
Slide 22: E22 caving options
E22 caving options Sub level cave, block cave, hybrid For personal use only Future access ▪ Block cave study completed by end of June 2024 E22 key parameters ▪ Board to review in August 2024 E22 Ore Reserve (Mt) 42 ▪ Capital spread over ~5 years Cu (%) 0.51 Au (g/t) 0.37 ▪ Provides future flexibilit
Slide 23: Glen Masterman, Vice President Discovery
Glen Masterman For personal use only Vice President Discovery
Slide 24: Discovery
Discovery Regional Geology Mining Lease ▪ Evolution controls highly For personal use only prospective copper and gold ground across 2 of the 3 main segments of the highly endowed Macquarie Arc ▪ Northparkes Exploration program prior to Evolution’s ownership underinvested in opportunities that potent
Slide 25: Northparkes geology
Northparkes geology For personal use only ▪ Porphyry ore bodies commonly located across >0.5% Cu the contact separating the outline Biotite Quartz Monzonite (pink coloured rock units) and the host volcanics (grey / green coloured rock units) ▪ Metal grades highest where ore bodies are hosted in volc
Slide 26: Major Tom and E51 discoveries
Major Tom and E51 discoveries ▪ Major Tom and E51 exhibit essential geological attributes: For personal use only • Shallow positions located above Altona Fault • Hosted adjacent to volcanic rocks (higher grades) • Associated with ‘shoulders’ in the underlying monzonite ▪ Targets adjacent to E26 and
Slide 27: Summary
Summary Material value creation For personal use only Long mine life with increased copper exposure High cash flow at high rate of return Lower capital intensity Significant exploration upside 27
Slide 28: Questions
For personal use only Questions
Slide 29: Appendix: Exploration update
Appendix For personal use only Exploration update
Slide 30: Northparkes Competent Person statement
Northparkes Competent Person statement The information in this report that relates to the Northparkes exploration results is based on work compiled by Jonathon Hoye who is For personal use only employed on a full-time basis by Evolution Mining Limited and is a member of the Australian Institute of G
Slide 31: E51 drill hole information summary
E51 drill hole information summary Easting Northing (m) (m) Elevation Hole Length From DH length Hole ID Hole Type Dip Azimuth Cu (%) Au (g/t) MGA2020 MGA2020 (m) (m) (m) (m) For personal use only z55 z55 E51D004 DDH 599275.6 6354486.4 10285.0 -60.4 249.7 200.3 No significant assays E51D005 DDH 5994
Slide 32: Major Tom drill hole information summary
Major Tom drill hole information summary Easting Northing (m) (m) Elevation Hole Length From DH length Hole ID Hole Type Dip Azimuth Cu (%) Au (g/t) MGA2020 MGA2020 (m) (m) (m) (m) For personal use only z55 z55 GD941 DDH 599167.6 6355091.4 10285.0 -59.0 270.0 423.6 No significant assays GD970 DDH 59
Slide 33: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria in Section 1 apply to all succeeding sections) Northparkes Section 1 Sampling Techniques and Data Criteria Explanation Commentary For personal use only Sampling • Nature and quality of sampling (e.g. cut channels, random chips, or ▪ Diamond
Slide 34: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria in Section 1 apply to all succeeding sections) Northparkes Section 1 Sampling Techniques and Data Criteria Explanation Commentary For personal use only Drill sample • Method of recording and assessing core and chip sample recoveries and ▪ Tr
Slide 35: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria in Section 1 apply to all succeeding sections) Northparkes Section 1 Sampling Techniques and Data Criteria Explanation Commentary For personal use only Sub-sampling • If core, whether cut or sawn and whether quarter, half or all core taken.
Slide 36: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria in Section 1 apply to all succeeding sections) Northparkes Section 1 Sampling Techniques and Data Criteria Explanation Commentary For personal use only Quality of • The nature, quality and appropriateness of the assaying and laboratory ▪ All
Slide 37: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria in Section 1 apply to all succeeding sections) Northparkes Section 1 Sampling Techniques and Data Criteria Explanation Commentary For personal use only Verification of • The verification of significant intersections by either independent or
Slide 38: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria listed in the preceding section also apply to this section) Northparkes Section 1 Sampling Techniques and Data Criteria Explanation Commentary For personal use only Data spacing • Data spacing for reporting of Exploration Results. ▪ Drill ho
Slide 39: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria listed in the preceding section also apply to this section) Northparkes Section 2 Reporting of Exploration Results Criteria Explanation Commentary For personal use only Mineral • Type, reference name/number, location and ownership including
Slide 40: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria listed in the preceding section also apply to this section) Northparkes Section 2 Reporting of Exploration Results Criteria Explanation Commentary For personal use only Geology • Deposit type, geological setting and style of mineralisation.
Slide 41: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria listed in the preceding section also apply to this section) Northparkes Section 2 Reporting of Exploration Results Criteria Explanation Commentary For personal use only Data • In reporting Exploration Results, weighting averaging techniques,
Slide 42: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria listed in the preceding section also apply to this section) Northparkes Section 2 Reporting of Exploration Results Criteria Explanation Commentary For personal use only Diagrams • Appropriate maps and sections (with scales) and tabulations o
Slide 43: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria listed in the preceding section also apply to this section) Northparkes Section 2 Reporting of Exploration Results Criteria Explanation Commentary For personal use only Diagrams • Appropriate maps and sections (with scales) and tabulations o
Slide 44: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria listed in the preceding section also apply to this section) Northparkes Section 2 Reporting of Exploration Results Criteria Explanation Commentary For personal use only Balanced • Where comprehensive reporting of all Exploration Results is n
Slide 45: Appendix: Mineral Resources and Ore Reserves
Appendix For personal use only Mineral Resources and Ore Reserves
Slide 46: Group gold Mineral Resources at December 2023
Group gold Mineral Resources at 31 December 2023 Gold Measured Indicated Inferred Total Resource Cut-off Tonnes Gold Gold Metal Tonnes Gold Gold Metal Tonnes Gold Gold Metal Tonnes Gold Gold Metal CP9 Project Type (g/t Au) (Mt) Grade (g/t) (koz) (Mt) Grade (g/t) (koz) (Mt) Grade (g/t) (koz) (Mt) Gra
Slide 47: Group gold Ore Reserves at December 2023
Group gold Ore Reserves at 31 December 2023 Gold Proved Probable Total Reserve Competent Cut-off Gold Grade Gold Metal Tonnes Gold Grade Gold Metal Tonnes Gold Grade Gold Metal Person10 Project Type Tonnes (Mt) (g/t Au) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) For personal use only Cowal1 Stock
Slide 48: Group copper Mineral Resources at December 2023
Group copper Mineral Resources at 31 December 2023 Copper Measured Indicated Inferred Total Resource Tonnes Copper Tonnes Tonnes Tonnes CP6 Copper Copper Copper Copper Copper Copper Copper Project Type Cut-off Grade For personal use only (Mt) Metal (kt) (Mt) Grade (%) Metal (kt) (Mt) Grade (%) Metal
Slide 49: Group copper Ore Reserves at December 2023
Group copper Ore Reserves at 31 December 2023 Copper Proved Probable Total Reserve CP5 Copper Copper Copper Copper Copper Copper Project Type Cut-Off Tonnes (Mt) Tonnes (Mt) Tonnes (Mt) For personal use only Grade (%) Metal (kt) Grade (%) Metal (kt) Grade (%) Metal (kt) Ernest Henry1 Underground 0.5
Slide 50: For personal use only
For personal use only