EVOLUTION MINING LIMITED — Capital/Financing Update 2005

Jun 23, 2005

WESTONIA MINES LIMITED

RENOUNCEABLE ENTITLEMENT ISSUE CLOSED

• The Board of Westonia Mines Limited wishes to announce the fully underwritten renounceable issue announced on 18 May 2005 has now closed.
• A total of 74,724,373 shares in entitlements (\$4,483,462) was received.
• The Underwriter has been advised of the shortfall of 41.036.529 shares (\$2.462.192) and expects the settlement on the shortfall to take place by Wednesday 29 June 2005, whereupon a further announcement will be made.
• The Holding Statements for shareholders who took up their entitlement will be despatched today and their shares have received official quotation.
• The Company continues to advance towards implementing the dewatering and drilling programmes as outlined in the Replacement Prospectus. Further information on progress will be provided next week.

For further information: David Hatch Managing Director

(08) 9321 3088

24th June 2005

Westonia Mines Binited 4BN 074-084-669-036
9 Havelook Street, West Perth N/A 6000 Telephone: -61-8 9321-3088 | Facsinile: -61-8 9321-8804 Complete Propriet Com Email: manager@westoniamines.com au. Web site: www.westoniamines.com.au.
ASX Codes: MEZ, MEZO