Evolution Mining : Mungari Site Visit

8 August 2017

Simon Jessop

General Manager - Kalgoorlie Region

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", "expect", "intend", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

• Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

• Forward looking statements are based on the Company and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company's business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company's business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company's control.

• Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

1 Cowal (100%)

• Gold Reserves 2016 (Moz)(1) 3.20

• Gold Resources 2016 (Moz)(1) 5.04

• Reserve Grade 2016 (Au g/t) 0.85

  263
  833	0.19
  166	0.52

  • FY17A Au Production (koz)

  • FY17A AISC (A$/oz)

  • Gold Reserves 2016 (Moz)(1)

  • FY17 Net Mine Cash flow (A$M)

  • Gold Resources 2016 (Moz)(1)

  5 Cracow (100%)

  2 Mungari (100%)

• Gold Reserves 2016 (Moz)(1) 0.60

• Gold Resources 2016 (Moz)(1) 2.73

• Reserve Grade 2016 (Au g/t) 2.2

• FY17A Au Production (koz) 144

   FY17A AISC (A$/oz) 1,143

• FY17 Net Mine Cash flow (A$M) 59

  3 Mt Carlton (100%)

• Gold Reserves 2016 (Moz)(1) 0.73

• Gold Resources 2016 (Moz)(1) 0.98

  Reserve Grade 2016 (Au g/t) 4.7

• Reserve Grade 2016 (Au g/t) 5.7

• FY17A Au Production (koz) 89

   FY17A AISC (A$/oz) 1,123

• FY17 Net Mine Cash flow (A$M) 41

  6 Edna May (100%)

• Gold Reserves 2016 (Moz)(1) 0.43

• Gold Resources 2016 (Moz)(1) 0.85

• Reserve Grade 2016 (Au g/t) 1.6

• FY17A Au Production (koz) 70

   FY17A AISC (A$/oz) 1,440

• FY17 Net Mine Cash flow (A$M) (15)

  7 3 5 4

  Ore Reserves: 7.0Moz Mineral Resources: 14.2Moz FY17 Gold Production 844koz

  AISC A$905/oz (US$638/oz)

  6 2 1

  

• FY17A Au Production (koz) 105

• FY17A AISC (A$/oz) 622

• FY17 Net Mine Cash flow (A$M) 91

  4 Mt Rawdon (100%)

• Gold Reserves 2016 (Moz)(1) 0.87

• Gold Resources 2016 (Moz)(1) 1.19

• Reserve Grade 2016 (Au g/t) 0.8

• FY17A Au Production (koz) 101

• FY17A AISC (A$/oz) 873

• FY17 Net Mine Cash flow (A$M) 36

  7 Ernest Henry (Evolution economic interest)

  • Reserves 2016(1) 0.96Moz Au, 182kt Cu

  • Resources 2016(1) 1.73Moz Au, 315kt Cu

  • Reserve Grade 2016 0.50g/t Au, 1.02% Cu

  • FY17A Au Production(2) (koz) 60

     FY17A AISC(2) (A$/oz) (361)

  • FY17 Net Mine Cash flow(2) (A$M) 82

  • This information is extracted from the report entitled "Annual Mineral Resources and Ore Reserve Statement" released by Evolution to ASX on 20 April 2017 and is available to view on www.asx.com.au Mineral Resources and Ore Reserves are depleted to 31 December 2016

  • Ernest Henry transaction completed 1 November 2016. Production and costs reflect 8 months of economic interest. Cash flow reflects 7 months of copper sales and 5 months of gold sales.

  • Location bubble size denotes FY17 gold production (annualised for Ernest Henry)

    Developing a pipeline of Mineral Resources

• Major footprint in the world-class Kalgoorlie region

  • ~950km2 across 346 tenements

    Ora Banda (92koz)

  • Resource definition and Discovery programs building momentum

• Strategically located 1.7Mtpa processing plant

  Zuleika (320koz)

• Mungari Regional Resources 1.59Moz gold1

  • Open-pit resources constrained to ensure quality

    Castle Hill (743koz)

    >500koz

    >200koz

    >50koz

• Significant potential to expand production and extend mine life

  Burgundy (77koz)

  Kunanalling (294koz)

• 150km of early stage drilling completed in FY17 - similar level planned in FY18

  Opportunities for mine life extension

  Frog's Leg (564koz)

  White Foil (627koz)

  Cutters Ridge (62koz)

• Resource definition pipeline - advancing resources toward production

  • Potential for regional resource expansion

    • Progressing to satellite mining operations

  • Near mine reserve expansion at Frog's Leg (Mist lode) and White Foil

• Discovering a new high-grade orebody (1) Resource information is extracted from the report entitled " Annual Mineral Resources and Ore Reserves Statement"

released by Evolution to ASX on 20 April 2017 and is available to view on www.asx.com.au. Further information and

footnotes on the Mungari Mineral Resource is provided in the appendix of this presentation