EVOLUTION MINING LIMITED — Investor Presentation 2013

May 15, 2013

Cracow

May 2013

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Simon Jessop General Manager

Disclaimer

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• This presentation has been prepared by Evolution Mining Limited (“Evolution Mining”) and consists of slides for a presentation concerning the company. By reviewing/attending this presentation, you acknowledge and agree the following.

• This presentation includes forward-looking statements. Forward-looking statements inherently involve subjective judgement and analysis and are subject to a number of risks, uncertainties, contingencies and other factors, many of which are outside the control of, and may be unknown to, Evolution Mining. As such, actual results or performance may vary materially from those expressed or implied by forward-looking statements. The types of factors that could cause such variation in actual results or performance include (without limitation) commodity prices, operational problems and general economic conditions. Given these factors, undue reliance should not be placed on forward-looking statements, which speak only as at the date of this presentation. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, Evolution Mining does not undertake any obligation to publicly update or revise any forward-looking statements contained in this presentation, including (without limitation) where Evolution Mining’s expectations change in relation to such statements and where there is a change in events, conditions or circumstances providing the basis for any such statement.

• No representation or warranty, express or implied, is made as to the accuracy, completeness, reliability, fairness or correctness of the information contained in this presentation. To the maximum extent permitted by law, Evolution Mining and its related bodies corporate and affiliates, and each of their respective directors, officers, employees, agents and representatives, disclaim any liability or responsibility for loss or damage arising from or in connection with the use of the information contained in this presentation.

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Location

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Site Layout Site Layout

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Cracow

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Mine Type	Underground
Minerals	Gold and silver
Mineralisation type	Low-sulphidation epithermal
Throughput	550ktpa
Average grade	6g/t gold
Recovery	93-94%
FY13 production outlook	90,000 – 100,000oz
FY13 cash cost outlook	A$780 – A$820/oz
Mine Life	5 years
Ore Reserves	0.27Moz gold
Mineral Resources	0.84Moz gold

• Consistent production since 2004

• Workforce: approximately 300 including contractors

• Roster: Evolution employees 8 days on, 6 off; 7 nights on 7 off; fly in, fly out

• Mining method: underground open-stoping

• Processing method: conventional crush-grind-CIL to produce gold-silver doré

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Detailed Ore Reserve and Mineral Resource disclosure provided on the Company website, www.evolutionmining.com.au

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History of consistent production

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Gold Produced (oz)

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140,000
120,000
Guidance FY2013
100,000 90,000 - 100,000
80,000
60,000
40,000
20,000
0
FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013
Ounces Au (oz)
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Safety, Environment and Community

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Cracow

Safety

• LTIFR reduced to 4.1 (5.8)

• Focus on safety and training

• Safety leadership programme

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• Environmental impact monitoring

Environment

Community

• Life of Mine TSF strategy

• Surface water management

• Community support programmes

• Indigenous training and scholarships

• Engagement and communication strategies

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Exploration

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Local geology and history Site Layout

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LEGEND
Golden West Gabbro
Back Creek Group
ROSES
PRIDE Andesitic lava
Rhyolite dykes
Lease boundary
Empire
Sterling 2002 WHITE Quartz vein lode
2002 HOPE
Sovereign 38,000oz
SOVEREIGN SHOOT 2001 GOLDEN
Inferred Resource White Hope PLATEAU
175,000oz 1936 800,000oz GOLDEN
Crown Shoot
Golden Plateau MILE
2001
1932 8,600oz
Phoenix CROWN SHOOT Golden Mile
2002 Inferred Resource 1976
360,000oz
Kilkenny
2005 Royal Shoot
1998
ROYAL SHOOT
Inferred Resource 1km
370,000oz
Dawn
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Exploration

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 Exploration objectives and strategy

• Transformational discovery

• Sustaining growth

• Quality lower cost ounces

 Regional setting

• Prospective land holding Bowen Basin Margin

• 555km[2] lease holding

 Proven endowment

• 2Moz system

• Open along strike, southern system under explored

 World class mineral discovery potential

 Widespread structural complexity and fertile structures essential for epithermal gold mineralisation

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Exploration highlights FY13

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• Coronation converted to Inferred Resource

• Griffin mineralisation discovered: open at depth and along strike to south

• Denmead Structure identified – east-west structure between Coronation and Sovereign

• Porphyry in southern field – anomalous copper

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Exploration FY13

• Gradient Array and dipole-dipole completed over Myles Corridor

• Definition drilling to Inferred for Coronation and Inferred/Indicated for Griffin

• Diamond drill testing of targets Phoenix South, Sterling, Sterling North, Royal South, Denmead, Fordee South and Crown/Phoenix Link

• RC drilling of east and west areas of Cracow Southern Field, Golden Mile, Rainbow, Dawn South

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• Magnetic Survey of Fernyside

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Near mine exploration

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LEGEND
Gabbro
Back Creek Group
Andesitic lava
Rhyolite dykes
Sterling
Lease boundary
Denmead
Quartz vein lode
Coronation
Griffin
Phoenix/
Crown
Rainbow
Phoenix
South
1km
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Resources and Reserves

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Resource update

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 73koz increase in Resources compared to June 2012

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Notes:

Data is reported to significant figures and differences may occur due to rounding Mineral Resources are inclusive of Ore Reserves

Cracow Mineral Resources have been reported above a cut-off grade of 2.3 g/t gold

Cracow was estimated using Ordinary Kriging into blocks with a range of dimensions optimised to the characteristics and geometry of each deposit Competent Person: Shane Pike, a member of the Australasian Institute of Mining and Metallurgy

Refer to Evolution Mining’s December 2012 Reserve and Resource Statement for explanatory notes, available at www.evolutionmining.com.au

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Reserve update

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 31koz increase in Reserves compared to June 2012

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Notes:

Data is reported to significant figures and differences may occur due to rounding Ore Reserves are reported above a 3.6 g/t gold cut-off Ore Reserves are calculated using a A$1,350/oz gold price and a gold recovery of 93.0% Competent Person: Fusheng Li, a member of the Australasian Institute of Mining and Metallurgy

Refer to Evolution Mining’s December 2012 Reserve and Resource Statement for explanatory notes, available at www.evolutionmining.com.au

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Replacing mining depletion

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 Produced 0.9Moz Au to 31 March 2013

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Note: Cracow production commenced in late 2004

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Mining

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Mine performance FY13

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July 2012 to March 2013	Units	Cracow
UG lateral development - capital	m	3,422
UG development - operating	m	2,590
Total UG lateral development	m	6,012
UG ore mined	kt	371
UG grade mined	g/t	6.84
Total ore mined	kt	371
Total tonnes processed	kt	380
Grade processed	g/t	6.88
Gold recovery	%	94
Gold produced	oz	78,896
Silver produced	oz	63,973
Gold sold	oz	78,853
Achieved gold price	A$/oz	1,613

Costs composition

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16%
21%
7%
2%
6%
27%
21%
Development Production
Blasting Load & Haul
Services Technical
Management
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Current development section

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Improvements under Evolution

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• Current investment in underground development to provide production flexibility and ensure long term predictability

• Changing to owner mining 1 July 2013 – cost benefit of about A$50/oz expected

• New equipment – improved efficiency

• Two new Atlas 6020 trucks, two new Jumbos, two new Loaders

• Opportunity to reduce costs and improve efficiency

• Plant numbers reduced

• Jumbos from 4 to 3, Trucks from 6 to 4, Loaders from 5 to 4 – physical targets similar

• Manning numbers reduced across mining and maintenance

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Jumbo
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Atlas Copco underground truck
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Achievements

• Development and Production both increased

• Longer development rounds standardised

• In-cycle fibrecrete standardised

• Split firing of ore drives

• Successful high grade remnant pillar recovery

• Pillar recovery aided by introduction of remote longhole drilling

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Cost management

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• Roses Pride and Empire ladderways to be installed in return air rises

• Design 380m vertical ladder system for Empire

• Reinstate VR3 ladders and decommission VR2 winder

• Redesign Lower Tipperary Stoping blocks

• Historically stripped development to full ore width (up to 10m)

• Designed longholes to take out most of the orebody

• Roses Pride Orebody Extraction

• Opportunity to mine top down and save cost on backfilling

• Crown 1910 Sill Pillar

• Drilled slashing with diamond drill: approximately $200k to recover $2M in ore

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Lower Tipperary stoping

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Roses Pride raise

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Empire raise

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Processing

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Historical plant performance

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Dry Tonnes Milled

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600,000
500,000
400,000
300,000
200,000
100,000
0
8 months only
FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012
Tonnes
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Historical plant performance

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Head Grade v Recovery

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12.00 100
11.53
11.13
10.00 98
9.68
8.65
8.00 96
7.58
7.23
6.86
6.47
6.00 94.6 94
93.9
93.5
4.00 92
92.4
92.2
92.0 92.0
2.00 90
89.7
0.00 88
FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012
Grade (g/t)
% Recovery
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Recovery (%) Head Grade (g/t Au)

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Processing performance FY13

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July 12 to March 13

Plant throughput Plant availability Throughput rate Grade Gold recovery Gold produced Silver produced

Cracow

380kt 96.2% 60tph 6.88g/t 93.5% 78,896oz 63,973oz

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Processing improvements

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• Modification to carbon management

Costs composition

• reduced gold losses

• Additional gold recovered ~$500k/yr

• Convert grinding media back to high chrome media

• Reduced cost ~$300k/yr

• Reduced reagent consumption

• Modified practices and rationalisation ~$250k/yr

• Conversion to Stainless steel wool  ~$3k/yr – plus reduced labour

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6%
10%
26%
4%
2%
3%
15%
34%
Crushing Grinding
Leaching Gold Room
Lab Tailings
Services Management
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Future

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Continued Reliable and Sustainable Production

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Building Upon

• Strong mature operation - strong base

• Re-energised and motivated team with Evolution

• Reliable, well engineered and operated mine

• Consistent 100kozpa production

Future Opportunities

• Owner Miner transition to reduce costs FY14

• Large interest in o/miner advertisement

• Experienced candidates have applied

• Mineral field still has exploration potential

• Golden Plateau review for future production

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Competent Person Statement

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The information in this presentation that relates to exploration results, Mineral Resources or Ore Reserves listed in the table below is based on work compiled by the person whose name appears in the same row, who is employed on a full-time basis by the employer named in that row and is a member of the institute named in that row. Each person named in the table below has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he or she has undertaken to qualify as a Competent Person. Each person named in the table consents to the inclusion in this report of the matters based on their information in the form and context in which it appears.

Activity	Name of Competent Person	Institute
Cracow Exploration Results and Mineral Resources	Shane Pike	Australasian Institute of Mining and Metallurgy
Cracow Ore Reserves	Fusheng Li	Australasian Institute of Mining and Metallurgy