EVOLUTION MINING LIMITED — Capital/Financing Update 2003

Nov 24, 2003

25 November 2003

SHARE PURCHASE PLAN

Westonia Mines Limited ("WEZ") has decided to implement a Share Purchase Plan ("SPP"). The aim is to replenish the Company's funds which were used recently to purchase the Big Bell mill so that it can resume its planned programs.

Shareholders will have an opportunity to subscribe for up to \$5,000 at forty cents (40¢) per share, which is a significant discount to average share price over the last three months.

Important dates are:

• Record date for determination of shareholders: 12 December.
• Closing date for subscriptions: 31 December.
• Issue of shares 5 January, 2004.

Optionholders who are not also shareholders will be advised of the SPP so that, should they wish, they will be able to convert Options so as to participate in the SPP.

Euroz Securities Limited has agreed to underwrite \$2 million of the issue, subject due diligence and procuring sub underwriting.

J

Andrew Drummond Managing Director

Enquiries should be directed to the Managing Director and readers are encouraged to register on the Company's website (www.westoniamines.com.au) for automatic receipt of information.