Evolution Mining Limited · ASX:EVN

Evolution Mining — Technical Presentation (February 2016)

35 slides from Evolution Mining's technical presentation, Feb 11, 2016

1. Slide 1: Edna May Analyst Site Visit

   Edna May Analyst Site Visit 5 August 2012

2. Slide 2: Disclaimer

   Disclaimer  This presentation has been prepared by Evolution Mining Limited (“Evolution Mining”) and consists of slides for a presentation concerning the company. By reviewing/attending this presentation, you acknowledge and agree the following.  This presentation includes forward-looking statemen

3. Slide 3: Location

   Location  350km east of Perth, 45km from Merredin, 2km from Westonia, Western Australia  10km from Great Eastern Hwy and Trans Australia railway line  Project development and construction 2009-2010, first gold pour April 2010  Power: 8.5MW - grid power  Water: In-pit bore backed up by bore fiel

4. Slide 4: Site Layout

   Site Layout Integrated Waste (m) Landform Process (m) Plant Greenfinch Edna May Golden Point

5. Slide 5: Edna May Overview

   Edna May Overview  Edna May open pit ore body: Stage Producing  200m wide, 800m long, 255m deep Mine Type Open pit  Current nine-year mine life Minerals Gold and silver Reef structures and gold  Bulk mining: Mineralisation type stockwork  FY13F - 2.8Mtpa ore Throughput 2.6Mtpa  FY13F - 3.5Mtpa

6. Slide 6: Edna May History

   Edna May History  1910 - Prospector Edmund Annear applied for the first mining lease in this area and named it Edna May after his aunt  1910 - High-grade underground mining commenced and suspended in 1922 due to underground water and ore depletion  1934 - High-grade underground mining commenced a

7. Slide 7: Safety

   Safety  Strong and participative safety culture  Good track record ~10 TRIFR  Targeting 15% improvement in FY13  Initiatives include:  Safety leadership training  Major risk assessments Edna May Crushing Circuit  Fit For Work initiative  ERT training 7

8. Slide 8: Performance

   i Performance Evolution MINING

9. Slide 9: Production (oz)

   Production 100,000 75,000 - 80,000oz 80,000 73,264oz Production (oz) 65,593oz 60,000 40,000 20,000 Edna May Crushing Circuit 0 FY2011A FY2012A FY2013F Production ounces (oz) Guidance Range  July 2012 record monthly production 8,500oz: higher than average grade, improved throughput  10-day planned

10. Slide 10: FY12 Physicals

    FY12 Physicals Sep Qtr Dec Qtr Mar Qtr June Qtr Units FY2012 2011 2011 2012 2012 OP ore mined 000' t 508 617 723 667 2,666 OP mined grade g/t 0.97 1.13 1.07 1.11 1.07 OP waste mined 000' t 1,123 1,573 1,279 1,496 5,470 Total tonnes processed 000' t 596 623 541 613 2,373 Head grade g/t 1.02 1.11 1.05

11. Slide 11: Mining

    Evolution MINING

12. Slide 12: Cutback Outlines: Plan view

    Cutback Outlines: Plan view Process F Plant C B 12

13. Slide 13: Cutback Outlines: Section view

    Cutback Outlines: Section view  Current Final Design  Total depth of 255m  Pit length east to west ~1km B C F 110m below surface 155m below surface 255m below surface 13

14. Slide 14: Mining Fleet

    Mining Fleet  Dry Hire Model  1 x EX 1900 Excavator - Primary digging  1 x EX 1200 Excavator - Batter and backup  7 x Cat 777 dump trucks  Force Equipment: supply and maintenance of mobile equipment  Monthly fixed cost for labour, infrastructure and overheads  Variable cost per SMU hour for a

15. Slide 15: Continuous Improvement

    Continuous Improvement  6.3Mtpa Total movement FY13  2.8Mt Ore & 3.5Mt Waste  Ore-bound in 3 months  Improved fragmentation  Improved void management  Improved scheduling  Productivity and efficiency of mining fleet  Engaging business partners for cutback fleet options (e.g. 360t digger & 18

16. Slide 16: Processing

    Processing ~ % \ Evolution MINING CS

17. Slide 17: Process Plant Overview

    Process Plant Overview Conventional CIL Plant  Refurbished plant from Big Bell  Trio 5442 Jaw Crusher (-115mm)  2kW SAG and 3.7MW Ball Mill  Gravity circuit with approx 45% recovery  2 x 2000m3 leach tanks  6 x 1100m3 adsorption tanks  Pressure Zadra elution circuit  Tailings Thickener 17

18. Slide 18: Continuous Improvement: Tonnes Processed

    Continuous Improvement  Plant availability Tonnes Processed  Maintenance systems: technical 2,650 2,600 2,600 specialists support 2,550 Tonnes (kt) 2,500 2,450  84% mill utilisation targeting 90% 2,400 2,373 FY13 2,350 2,316 2,300 2,250  Critical spares 2,200 2,150  Plant throughput FY11A FY12A

19. Slide 19: Exploration

    = Exploration ~ \ Evolution MINING CS

20. Slide 20: Mine Geology

    Mine Geology 300m Geology  Westonia Greenstone Belt Existing open pit resource 300m below surface  Mafic and Ultramafic greenstone sequence Ore Body Edna May Gneiss  High grade quartz reefs hosted in a mineralised Gneiss and halo mineralisation Dimensions  200m wide x 800m along strike x 255m de

21. Slide 21: Exploration – Regional Consolidation

    Exploration – Regional Consolidation  Regionally >2.5Moz gold endowment remains in-situ; ownership of prospective greenstones is reasonably fragmented  Potential to deliver higher grades and higher value feed to the Edna May plant  Leverage off existing infrastructure at Edna May  Opportunities

22. Slide 22: Exploration Focus

    Exploration Focus  FY13 exploration budget of A$1.7m  Targeting high-grade primary and oxide ore sources  All targets are within hauling distance of the EMO process plant FY13 Target Areas 22

23. Slide 23: Perrins

    Perrins  Within 6km of Edna May process plant Perrins Edna May  Targeting high-grade and 6km oxide resources  Recent shallow drill results include:  8m grading 10.87g/t Au from 23m  7m grading 2.74g/t Au from 17m  Follow-up drilling is planned Diamond drilling at Perrins 23

24. Slide 24: Greenfinch

    Greenfinch  High-grade mineralisation extended 150m down-dip  Resource update 2HFY2013 and further drilling planned 24

25. Slide 25: Holleton

    Holleton  Agreement to acquire from Independence Group NL signed June 2012 FY13 Target Areas  Substantial ground holding; prospective for high-grade Archaean gold deposits  Early stage: Symes Find, Brahma, Holleton Central  Multiple untested targets; anomalous geochemistry and geophysics  Strat

26. Slide 26: Symes Find

    Symes Find  Surface gold anomaly over 1.5km, ~500m in width at >200ppb gold  50ppb gold contour covers an area approximately 2km x 750m  Oxide mineralisation from surface - open along strike  Primary mineralisation potential at depth  Further drilling planned 26

27. Slide 27: People

    Evolution MINING

28. Slide 28: People

    People  Emphasis on local recruitment ~ 25% local hires  Favourable roster: 8 days on, 6 days off June Quarter Manning Evolution 150 Contractors 40 Total 190 28

29. Slide 29: Future

    Evolution MINING

30. Slide 30: Future

    Future  Short term (0-3 months): Resolution of plant throughput constraints  Medium term (3-9 months):  Increased throughput options (secondary / tertiary crushing)  Underground development strategy  New team in place to drive improvements  Exploration programs  Resource extension: Life of Mi

31. Slide 31: Appendix

    \ a Evolution MINING

32. Slide 32: Process Flowsheet

    Process Flowsheet poo c cee OXYGEN [ f —_—— PEBBLE on. LY CRUSHER HYDROCYCLOHES Ti JAW TF cxawry CRUSHER - GRAVITY | CONCENTRATOR me -- e e e e e e 4 3 ACACIA ' aa ‘CYANIDE | LIME REACTOR ' RECLAIM FEEDERS | | > | LOADED CARBON RECOVERY SCREEN TANK TRASH I screen ACID WASH ELUTION L CARBON COLUMN CO

33. Slide 33: Edna May Mineral Resources

    Edna May Mineral Resources June 2011 (including Ore Reserves) Total Measured, Measured Indicated Inferred Indicated & Inferred Million Gold '000 Million Gold '000 Million Gold '000 Million Gold '000 Tonnes g/t Oz Tonnes g/t Oz Tonnes g/t Oz Tonnes g/t Oz Greenfinch 0.9 1.1 31 2.6 1.0 83 0.6 1.0 20 4

34. Slide 34: Edna May Ore Reserves June 2011

    Edna May Ore Reserves June 2011 June 2011 Total Proved and Proved Probable Probable Million Gold '000 Million Gold '000 Million Gold '000 Tonnes g/t Oz Tonnes g/t Oz Tonnes g/t Oz Greenfinch 0.8 1.1 28 1.7 1.0 58 2.5 1.1 86 Edna May & Golden Point 14.4 1.1 504 8.5 1.1 298 22.8 1.1 803 Edna May Under

35. Slide 35: Competent Person Statement

    Competent Person Statement The information in this presentation that relates to exploration results, Mineral Resources or Ore Reserves listed in the table below is based on work compiled by the person whose name appears in the same row, who is employed on a full-time basis by the employer named in t

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