Slide 1: The future of Cowal
For personal use only The future of Cowal 16 February 2017
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: Cowal mine life extended to 2032
Cowal mine life extended to 2032 Regulatory approval received to extend mine life to 2032 For personal use only Life extension projects approved: E42 Stage H Cutback – additional Life of Mine (LOM) gold production of 1.2Moz Dual Leach Project to increase recoveries by 4 – 6% 31 December 20
Slide 4: E42 material movement
E42 material movement Capital investment in stripping of approximately A$230 million over four years For personal use only FY18: A$40M, FY19: A$75M, FY20: A$75M, FY21: A$40M Remaining Life of Mine E42 material movement: Waste (Mt) Ore (Mt) Strip Ratio 103.1 55.6 1.85 4
Slide 5: Dual leach project
Dual leach project Metallurgical test work confirmed leaching of the flotation tailings is expected to For personal use only improve recoveries by 4 – 6% Resulting increase in gold production of 10 – 14koz per year Capital investment of A$35.0 – A$40.0 million to be spent over FY18 and FY19
Slide 6: Additional opportunities
Additional opportunities Board approval received to assess For personal use only further asset enhancement opportunities including: E46 Co-treatment of high-grade oxide stockpiles to bring forward treatment E46 East Increased gold production of 10 – 12koz per annum E42 Secondary crushing Gal
Slide 7: Transforming a cornerstone asset
Transforming a cornerstone asset For personal use only July Evolution Feb 2015 Performance 2017 + 8 years MINING MINING PERMIT TO 2024 PERMIT TO 2032 2014 ORE RESERVES 1.56Moz1 + 2.28Moz2 2016 ORE RESERVES 3.20Moz3 2014 MINERAL RESOURCES 3.43Moz 1 + 2.24Moz2 2016 MINERAL RESOURCES 5.04Moz3 July 2015
Slide 8: Reserve changes since acquisition
Reserve changes since acquisition Cowal Ore Reserve changes For personal use only December 2014 to December 2016 4,000 3,500 87 29 326 494 Reserve ounces (koz) 3,000 309 69 900 2,500 231 2,000 471 3,200 1,500 2,848 1,000 1,555 500 0 December 2014 Cut-Off Grade & Stage G Design Stage H Design Depleti
Slide 9: Cowal Dec 2016 MROR
Cowal Dec 2016 MROR Cowal Gold Mine Ore Reserves - December 2016 For personal use only Proved Probable Total Cont Cont Ore Reserve Cut-off (g/t Tonnes Grade Cont Metal Tonnes Grade Tonnes Grade Metal Metal Au) (Mt) Au (g/t) Au (koz) (Mt) Au (g/t) (Mt) Au (g/t) Au (koz) Au (koz) E42 Oxide 0.40 0.54 0