EVOLUTION MINING LIMITED — Capital/Financing Update 2007

Jul 17, 2007

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18 July 2007

Company Announcements Office Australian Stock Exchange Limited 4th Floor 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam,

Westonia Mines Limited closes the rights issue

Westonia is pleased to announce that the renounceable rights issue announced on 15 June 2007 closed on 12 July 2007. All shares offered under the rights issue were taken up by shareholders. The issue raised approximately $3.1 million before costs.

The net proceeds from the issue will be used to fund an active exploration field programme of drilling priority targets identified during the recently completed compilation of the regional exploration database.

With reference to the Appendix 3B lodged on 18 June 2007, the Company advises that allotment took place on 16 July 2007, with holding statements despatched on 17 July 2007.

For further information please contact David Hatch on (08) 9321 3088.

Yours sincerely,

David Hatch Managing Director

Contact Details: Westonia Mines Limited ABN 074 084 669 036 9 Havelock Street, West Perth, WA 6000 Telephone: +61 8 9321 3088 Facsimile: +61 8 9321 8804 Email: manager@westoniamines.com.au Web site: www.westoniamines.com.au ASX Code: WEZ, WEZO