Evolution Mining Limited · ASX:EVN

Evolution Mining — Corporate Update (May 2014)

31 slides from Evolution Mining's corporate update, May 27, 2014

1. Slide 1: Mt Carlton

   For personal use only Mt Carlton May 2014 Arlene Rofe – General Manager

2. Slide 2: Disclaimer

   Disclaimer For personal use only  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 fo

3. Slide 3: Location

   For personal use only Location 3

4. Slide 4: Site layout

   For personal use only Site layout 4

5. Slide 5: Mt Carlton

   Mt Carlton For personal use only  Lowest cost mine in the portfolio Mine Type Open pit  Workforce: approximately 140 including Minerals Gold, silver and copper contractors Mineralisation type High-sulphidation epithermal  Roster: 8 days on, 6 days off Throughput 800,000tpa  Mining method: open p

6. Slide 6: Safety, Environment & Community

   For personal use only Safety, Environment & Community

7. Slide 7: Safety, environment & community

   Safety, environment & community For personal use only • TRIFR reduced by 30% • Feedback and consultation with workforce Safety • Behavioural safety key focus – Beyond Zero Program • Culture of reporting hazards, near-misses, incidents • Responsible environmental management and performance Environmen

8. Slide 8: Mining

   For personal use only Mining

9. Slide 9: Mining

   Mining  Current Fleet: 1 x 1200 excavator For personal use only 4 x CAT 777 trucks 1 x 980 loader 1 x 14M grader 1 x 773 water cart 2 x dozers 1x 30t rock breaker  Completion of A39 Pit mining scheduled in Q4 FY14  Optimising mine scheduling V2 pit 9

10. Slide 10: V2 and A39 pit current bench and material moved

    For personal use only Current bench Elevation: Stage1– 95mRL, Stage 2 – 125mRL V2 Pit Total Material moved – 5M BCM Current bench Elevation – 80mRL A39 Pit 6 Total Material moved – 2M BCM

11. Slide 11: Mining

    Mining For personal use only  Total material movement significantly reduced in H2 FY14  Life of mine strip ratio: V2 = 2.7:1, A39 = 3.3:1  A39 pit scheduled for completion of mining in Q4 FY14. Evaluation in progress to assess further exploitation of the remaining resource A39 ore Mark-Up 85mRL –

12. Slide 12: Physicals

    Physicals For personal use only Ore and waste mined Mining costs 3,500 3,000 2,500 2,000 (kt) 1,500 1,000 Drill and Blast 500 Load and Haul Rock Breaking Crusher and Feed - Jun 2013 Qtr Sep 2013 Qtr Dec 2013 Qtr Mar 2014 Qtr Support Services Rehabilitation Capital Waste (kt) Operating Waste (kt) Ore

13. Slide 13: Processing

    For personal use only Processing

14. Slide 14: Process flowsheet

    For personal use only Process flowsheet 14

15. Slide 15: Physicals FY14 YTD

    Physicals FY14 YTD July 2013 to March 2014 Units A39 V2 Total/Average For personal use only Mining Capital waste kt 0 1,894 1,894 Operating waste kt 141 2,219 2,359 Ore mined kt 211 341 553 Mined Grade - gold g/t - 5.1 5.1 Mined Grade - silver g/t 373 48 172 Processing Ore processed kt 174 318 492 G

16. Slide 16: Plant performance

    Plant performance For personal use only  Plant throughput 800kt per annum  Plant availability 91.3% Plant Performance 100 95 90 80 90 70 Throughput (t/h) Edna May Crushing Circuit Recovery (%) 60 85 50 40 80 30 20 75 10 0 70 Jul Aug Sep Oct Nov Dec Jan Feb Mar A39 - Ag, % V2 - Au, % Avg t/h 16

17. Slide 17: Concentrate sales

    Concentrate sales For personal use only  47,000dmt concentrate shipped to date  Total revenue USD110m A39 Silver Concentrate V2 Gold Concentrate 12 shipments @ Av. size 2,000dmt 11 shipments @ Av. size 2,100dmt Average Ag grade: 3,750g/t Average Au grade: 63g/t Average revenue: US$4M per shipment

18. Slide 18: Cost saving initiatives

    Cost saving initiatives For personal use only  More favourable contracts negotiated  Power, fuel, lime, explosives, equipment  Review of rates being charged on all hired equipment on site  Reduced grinding media consumption  Contractor management and selection  Material selection to reduce mai

19. Slide 19: Production and cash cost

    Production and cash cost FY14 YTD production of 67,749oz AuEq already within FY14 For personal use only  guidance (65,000 – 75,000oz AuEq)  FY14 YTD cash cost of A$603/oz well below guidance of A$700 – $750 per ounce A$795 80,000 800 A$578 Production Au eq (oz) 60,000 600 Cost A$/oz A$454 40,000 4

20. Slide 20: Geology

    For personal use only Geology

21. Slide 21: Exploration – Strategy and Plan

    Exploration – Strategy and Plan For personal use only  Transformational discovery – maximise opportunity  Capability of the orebody drives the business  4D and Seismic – opportunity to increase geological knowledge  Think like scientists to increase prospectivity  Lithogeochemistry and ASD  de

22. Slide 22: Alteration mapping with ASD

    Alteration mapping with ASD For personal use only  Camp-scale alteration zonation  Defining preservation levels  Prioritising targets Strathmore Castle Capsize MCU V2 Ortiz Alunite Pyrophyllite Dickite Boundary Kaolinite Illite

23. Slide 23: Geochemistry

    Geochemistry For personal use only  Alteration and geochemical mapping reflect the styles and ability to target high sulphidation deposits  New targets identified Castle Capsize MCU V2 Strathmore Ortiz Boundary

24. Slide 24: Near-mine opportunities

    Near-mine opportunities For personal use only Central E, Far East area. Herbert Creek East Narrow HG intercepts Potential low strip at depth. Generally resource shallow drilling V2 East Depth extensions under HG underground and surrounding A39 and V2 pits, limited deep drilling Mt Carlton United 24

25. Slide 25: Greenfields opportunities

    Greenfields opportunities For personal use only 25

26. Slide 26: Discovery project pipeline

    Discovery project pipeline For personal use only Curve shows incremental value creation 26

27. Slide 27: Appendix

    For personal use only Appendix

28. Slide 28: Resources

    Resources Gold - Mt Carlton Mineral Resources - December 2012 For personal use only Measured Indicated Inferred Total Resource Mineral Resource Cont. Cont. Cont. Cont. Tonnes Grade Tonnes Grade Tonnes Grade Tonnes Grade Metal Metal Metal Metal (Mt) Au (g/t) (Mt) Au (g/t) (Mt) Au (g/t) (Mt) Au (g/t)

29. Slide 29: Reserves

    Reserves Gold - Mt Carlton Ore Reserves - December 2012 For personal use only Proved Probable Total Reserve Ore Reserve Cont. Cont. Cont. Tonnes Grade Tonnes Grade Tonnes Grade Metal Au Metal Au Metal Au (Mt) Au (g/t) (Mt) Au (g/t) (Mt) Au (g/t) (koz) (koz) (koz) A39 - - - - - - - - - V2 4.52 3.1 44

30. Slide 30: Competent person statement

    Competent person statement The information in this presentation that relates to exploration results, Mineral Resources or Ore For personal use only 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 t

31. Slide 31: Evolution Mining

    For personal use only Evolution Mining ASX Code: EVN www.evolutionmining.com.au

Evolution Mining — Corporate Update (May 2014) on 6ix