Slide 1: Mungari Site Visit
MUNGARI SITE VISIT For personal use only CLICK TO EDIT A N D R E WMASTER MILLAR TITLE GENERAL MANAGER KALGOORLIE REGION STYLE 6 AUGUST 2018 Click to edit Master subtitle style
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: Mungari's Contribution to Evolution Mining
MUNGARI'S CONTRIBUTION TO For personal use only EVOLUTION MINING 15% 12% 18% Mt Ernest Carlton Henry Mt Rawdon FY18 Ore Mineral Cracow Production Reserves Resources Mungari 801koz 7.2Moz 14.3Moz Cowal This information is extracted from the report entitled “Annual Mineral Resources and Ore Reserve St
Slide 4: Mungari: A key asset in Evolution's portfolio
MUNGARI A key asset in Evolution’s portfolio For personal use only 10 year mine life with material upside Strategic footprint in a world-class gold district 1.6Mtpa low cost plant consistently performing above nameplate Highly skilled local workforce Ability to adopt new technology to further improv
Slide 5: Snapshot
SNAPSHOT Owner-operator with ~273 employees and ~70 For personal use only contractors 600km east of Perth, Western Australia, Underground and mill 7/7 – 4 panel roster Location and 20km West of Kalgoorlie Open-pit 7/3/5/6 – 3 panel roster White Foil: conventional open-pit Mining method Resid
Slide 6: Site Layout
SITE For personal use only LAYOUT White Frog’s Foil Leg Open-pit Underground Mungari Process plant Kalgoorlie 20km Evolution Mining – Mungari Site Visit August 2018 6
Slide 7: Zero Harm
Total Recordable Injury Frequency (TRIF) 40 ZERO HARM 35 30 For personal use only 25 20 ▪ FY18 LTIF = 1.2 and TRIF = 8.5 15 ▪ Significant year-on-year improvement demonstrates 10 positive shift in safety culture 5 0 ▪ Safety culture has moved from ‘compliance’ to ‘ownership’ ▪ Focus on critical cont
Slide 8: Mungari FY18 Highlights
MUNGARI FY18 HIGHLIGHTS For personal use only ▪ Gold production of 118,498 ounces ▪ AISC1 of A$1,181 per ounce ▪ Operating mine cash flow A$71 million ▪ Net mine cash flow A$24 million ▪ Ore Reserves increased by 38% year-on-year to 828koz2 ▪ Open-pit cut back completed on schedule ▪ Mill productivi
Slide 9: FY18 Underground Performance
FY18 UNDERGROUND PERFORMANCE For personal use only Units FY18 UG lateral development – capital m 992 UG lateral development – operating m 758 Total UG lateral development m 1,749 UG ore mined kt 462 UG grade mined g/t 5.32 ▪ Frog’s Leg underground production split between Mist and Rocket ▪ Significa
Slide 10: FY18 White Foil Performance
FY18 WHITE FOIL PERFORMANCE For personal use only Units FY18 ▪ White Foil open-pit located adjacent to Mungari plant OP capital waste kt 6,286 OP operating waste kt 3,086 ▪ FY18 was a capital intensive year with a high strip OP ore mined kt 501 ratio due to the Stage 3 cutback OP strip ratio waste:o
Slide 11: White Foil Material Movement
WHITE FOIL MATERIAL MOVEMENT For personal use only Evolution Mining – Mungari Site Visit August 2018 11
Slide 12: FY18 Plant Performance
FY18 PLANT PERFORMANCE For personal use only ▪ Plant continues to perform above nameplate Units FY18 ▪ Continuous improvement initiatives resulted in plant Tonnes processed kt 1,654 recovery increasing to 94.2% (FY17: 93.1%) Grade processed g/t 2.36 Gold recovery % 94.2 ▪ Second Knelson concentrator
Slide 13: Mungari FY19 Outlook
MUNGARI FY19 OUTLOOK For personal use only ▪ Gold production 125,000 – 135,000 ounces ▪ AISC1 A$1,050 – A$1,100 per ounce ▪ A$10 – A$15 million sustaining capital ▪ ~A$5 million major project capital ▪ A$15 – A$20 million resource definition and discovery budget focussed on: ▪ Drilling for extension
Slide 14: Unlocking the Potential
UNLOCKING THE POTENTIAL For personal use only ▪ Ore Reserves and Inferred Mineral Resources provide solid 10 year base load production platform to build on ▪ Current life of mine plan ore sources: ▪ Frog’s Leg underground ▪ White Foil open pit and underground ▪ Castle Hill open pit ▪ Regional open p
Slide 15: Frog's Leg Extensions
FROG’S LEG EXTENSIONS For personal use only ▪ Underground mining at Frog’s Leg scheduled to be completed in 2020 ▪ Remnant targets yet to be fully tested ▪ Exploration decline commenced June 2018 quarter from the Mist decline and drilling scheduled for December 2018 quarter ▪ K2 mineralised contact
Slide 16: White Foil
WHITE FOIL For personal use only White Foil Open-Pit ▪ Open pit mining currently scheduled to be completed in 2020 ▪ Planned stockpile at completion of mining – 2.06Mt grading 1.9g/t Au for 130koz White Foil Underground ▪ Mineral Resource of 3.91Mt grading 2.4g/t Au containing 295koz1 ▪ Bulk deposit
Slide 17: Castle Hill
CASTLE HILL For personal use only Castle Hill Metrics (June 18) Units June 18 Waste Mt 28.3 Ore Mt 5.3 Grade g/t 1.4 Ore Reserves koz 236 Strip ratio waste:ore 5.3:1 ▪ Termination of historic Norton right to mine agreement provides Evolution with full ownership and unfettered access to the Castle Hi
Slide 18: Kunanalling
KUNANALLING For personal use only ▪ Castle Hill is part of the Kunanalling Camp which currently contains >1Moz in Mineral Resources ▪ Adjacent to the Broads Dam camp which contains an additional Mineral Resource of 272Koz1 ▪ Majority of the metal is associated with the Kintore Tonalite, where Kintor
Slide 19: Ora Banda Camp
ORA BANDA CAMP For personal use only ▪ Focused exploration program prioritising targets with potential to deliver high grade ▪ Recent drilling results illustrating grade potential in the well endowed Ora Banda camp – ~3Moz historic production and resources at >3g/t Au ▪ Several areas ineffectively e
Slide 20: Ora Banda Camp
ORA BANDA CAMP For personal use only Perimeter is an Enterprise style analogue hosted by Scottish Archer is a high-grade narrow vein target parallel structures in the Bent Tree Basalt 1. This information is extracted from the report entitled “March 2018 Quarterly Report” released to the ASX on 19 Ap
Slide 21: Community
COMMUNITY For personal use only ▪ Native Title and Cultural Heritage agreements signed with Maduwongga ▪ Return to Work Program – flexible hours for people returning to the workforce while raising a young family ▪ Third Shared Value Project completed – Nature Sensory Outdoor Area ▪ Donation to St Jo
Slide 22: Unlocking Mungari's Potential
UNLOCKING MUNGARI’S POTENTIAL For personal use only 10 year mine life Reliable low cost mill Strategic footprint in a world class gold district Commitment to exploration Opportunity for high-grade discoveries to increase production, lower costs and extend mine life Vastly improved cash flow expected
Slide 23: Evolution Mining
For personal use only Evolution MINING
Slide 24: Mungari's Evolution
Gold Production (koz) MUNGARI’S 1996 For personal use only White Foil discovery EVOLUTION 1999 Frog’s Leg discovery 2002 Limited mining of White Foil open-pit (2002-2003) FY13 120 - 2006 and Frog’s Leg open-pit (2004-2005) FY14 140 First gold pour from Frog’s Leg underground mine 2008 Processing via
Slide 25: Process Plant Circuit
PROCESS PLANT CIRCUIT For personal use only Evolution Mining – Mungari Site Visit August 2018 25
Slide 26: Process Equipment
PROCESS EQUIPMENT For personal use only ▪ Power ▪ Gravity Circuit ▪ Western Power – grid supply ▪ 2 * Knelson concentrator – 30” ▪ 40-60% of gold recovered via gravity ▪ Crushing ▪ Three stage crushing ▪ Leaching ▪ Primary: Metso 40” Single Toggle Jaw Crusher ▪ CIL circuit ▪ Secondary: Metso Cone HP
Slide 27: Mining Equipment
MINING EQUIPMENT For personal use only Underground mining equipment Open-pit mining equipment ▪ Development drills ▪ Loading ▪ 1 x development jumbo – Sandvik DD421 ▪ 1 x 250t Hitachi EX2600 ▪ Production drills ▪ 1 x 200t PC2000 (backup) ▪ 2 x longhole drills – Sandvik DL421 ▪ 1 x 110t Komatsu PC125
Slide 28: Mungari Gold Ore Reserves
MUNGARI GOLD ORE RESERVES EVOLUTION 2017 GOLD ORE RESERVES For personal use only Mungari Gold Ore Reserves - December 2017 (incl. Castle Hill update – July 2018) Proved Probable Total Reserve Ore Reserve Type Cut-off Tonnes Cont. Tonnes Cont. Tonnes Cont. Grade Au Grade Au Grade Au Metal Au Metal Au
Slide 29: Mungari Gold Mineral Resources
MUNGARI GOLD MINERAL RESOURCES EVOLUTION 2017 GOLD ORE RESERVES For personal use only Mungari Mineral Resources –December 2017 (incl. Castle Hill update – July 2018) Measured Indicated Inferred Total Resource Region Prospect Type Cut-Off Gold Grade Gold Metal Gold Grade Gold Metal Gold Grade Gold Me
Slide 30: Group Gold Ore Reserves - July 2018
EVOLUTION 2017 GOLD ORE RESERVES EVOLUTION 2017 GOLD ORE RESERVES For personal use only Group Gold Ore Reserves - July 2018 Gold Proved Probable Total Reserve Gold Gold Gold Gold Gold Gold Tonnes Tonnes Tonnes CP3 Project Type Cut-Off Grade Metal Grade Metal Grade Metal (Mt) (Mt) (Mt) (g/t) (koz) (g
Slide 31: Group Gold Mineral Resources - July 2018
EVOLUTION 2017 GOLD MINERAL RESOURCES EVOLUTION 2017 GOLD ORE RESERVES For personal use only Group Gold Mineral Resources – July 2018 Gold Measured Indicated Inferred Total Resource Gold Gold Gold Gold Gold Gold Gold Gold Tonnes Tonnes Tonnes Tonnes CP3 Project Type Cut-Off Grade Metal Grade Metal G
Slide 32: Group Copper Reserves and Resources
EVOLUTION 2017 COPPER RESERVES & RESOURCES EVOLUTION 2017 GOLD ORE RESERVES For personal use only Group Copper Mineral Resources Statement Copper Measured Indicated Inferred Total Resource Copper Copper Copper Copper Copper Copper Copper Copper Cut- Tonnes Tonnes Tonnes Tonnes CP3 Project Type Grade
Slide 33: Evolution Mining
For personal use only Evolution MINING