EVOLUTION MINING LIMITED — Capital/Financing Update 2013

Mar 24, 2013

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ABN: 74 084 669 036

Registered Office Level 28 175 Liverpool Street Sydney NSW 2022

ASX Announcement

25 March 2013

P +61 2 9696 2900 F +61 2 9696 2901

www.evolutionmining.com.au

MT CARLTON PRODUCES FIRST CONCENTRATE

Evolution Mining Limited (ASX: EVN) is pleased to advise that a major milestone in the commissioning of the 800,000 tonne per annum processing plant at its 100% owned Mt Carlton gold-silver-copper mine in North Queensland was achieved with the first concentrate produced from the silver rich A-39 deposit. The site team will now focus on ramping-up the plant to full capacity which is expected to be achieved on a sustainable basis in the September 2013 quarter.

Commenting on this important achievement, Evolution’s Executive Chairman, Jake Klein, said:

“Achieving this milestone is an outstanding result and is a tribute to the excellent team that we have at Mt Carlton. Once in full production, Mt Carlton is expected to be our lowest cost mine.”

“The deposit was discovered in 2006 and construction commenced only five years later, in December 2011. This remarkably rapid timeframe for permitting and development underpins our belief that Australia, and in particular Queensland, is an excellent destination for investment, exploration and mining.”

The project is expected to produce 720,000 ounces of gold, 14.4 million ounces of silver and 25,000 tonnes of copper in concentrate over its initial 12-year life.

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Flotation tanks
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Flotation tank cell
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Concentrate thickener hopper
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For further information please contact:

Investor Enquiries Jake Klein Executive Chairman Evolution Mining Limited Tel: +61 2 9696 2900

Media Contact

Suk Hee Lee Media Relations FTI – Media Relations Tel: +61 2 8298 6100

About Evolution Mining

Evolution Mining is a leading, growth-focused Australian gold miner. The Company operates four whollyowned Australian mines – Cracow, Edna May, Mt Rawdon and Pajingo – and is in ramp-up at its fifth, the Mt Carlton gold-silver-copper project. Group production for the current financial year is forecast at between 370,000 and 410,000 ounces gold equivalent with cash operating costs expected to be in the range of A$730 per ounce to A$790 per ounce.