EVOLUTION MINING LIMITED — Investor Presentation 2005

Apr 10, 2005

WESTONIA MINES LIMITED

THE NEW INITIATIVE BY DAVID HATCH APRIL 2005

Recent History

Project not yet developed due to:

• Substantial increase in open pit contract mining costs
• Significant increase in plant construction costs

Strong AUD

Confidence issues surrounding apparently low grade resource

What's Different About Westonia?

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Size of resource

Regional tenement position and prospectivity

Westonia Geological Resource Comparison

	July 2004
	Indicated	Inferred	Total
0.7 g/t Cut-off
Tonnes (MT)	23.10	7.29	30.39
Grade (g/t)	1.41	1.35	1.39
Total (kozs)	1046	315	1361
1.0 g/r Cut-off
Tonnes (MT)	14.30	3,96	18.26
Grade (g/t)	1.76	1.77	4.76
Total (kozs)	808	226	4084

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Westonia Gold Project

Mineral Resource (July 2004) 0.7 g/t Cut-Off

Westonia Gold Project

Mineral Resource (July 2004) 0.7 g/t Cut-Off

Long Section

Yilgarn Block

Dewater Westonia Pit

Scope of Site Work Includes

• Rehabilitation of existing evaporation ponds and construction of new/temporary pond
• Acquisition and installation of a +2.5km pipeline
• Re-establish pit access
• Acquisition and installation of pumps Supervision and monitoring
• Pumping rate of 15ML/day (11ML/day gain)

Grade Control Drill Programme

• Estimated 10,000m RC programme along pit floor
• Leachwell assaying technique
• 8m x 5m pattern, vertical holes to 25m deep

Validate contained metal per vertical increment from 70m to 100m depth and calibrate the resource model

Resource Drilling

• Infill drill gaps between 100m and 200m in expectation of adding resource ounces
• Infill drill to convert inferred mineralisation to indicated category between 100m and 200m
• Further drill test beyond 200m to increase level of confidence in resource at depth

Timeline

Task Name	Duration	$Jun-05$	$Jul-05$	Aug-05	Sep-05	Oct-05	Nov-05	Dec-05	$Jan-06$	$Feb-06$	Mar-06
Dewatering	4 months
Grade Control	3 months
Resource Drilling	3 months
New Resource Model	1 month
Optimise, Re-design & Re-schedule	Santa de Salvador (1980). Nacional de Salvador (1980). Ŵ. 2 months		KO 77.				S.
New Feasibility Study	3 months

Cost Summary

• Dewatering
• Drilling
• Feasibility, Other
• Contingency
• Exploration

AUD 2.1M AUD 1.7M AUD 0.7M AUD 0.5M AUD 0.5M

Total AUD 5.5M

Objectives

• Establish robust economic base case open pit mine and promote Company's progress
• Aim for commissioning early 2007
• Soon after demonstrating viability and cash earning potential of open pit, recommence development and resource drilling to test underground potential
• Systematic regional exploration Structured growth based on Westonia Greenstone Belt to value-add and create shareholder wealth