EVOLUTION MINING LIMITED — Major Shareholding Notification 2013

May 20, 2013

MinterEllison

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L A W Y E R S
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AURORA PLACE, 88 PHILLIP STREET, SYDNEY NSW 2000, DX 117 SYDNEY

Subject	Notice of change of interests of substantial holder
Date	21 May 2013	Number of pages (including this one): 7
From	Henry Wong Email: henry.wong@minterellison.com	Facsimile Direct line Our Ref	$+61$ 2 9921 8058 $+61299218536$ SSE:HLW:20-6818439
	Company Secretary Evolution Mining Limited	Facsimile	$+61$ 2 9696 2901
To	Company announcements office ASX	Facsimile	1300 135 638

Please find attached a notice of change of interests of substantial holder in relation to shares in

Evolution Mining Limited from Van Eck Associates Corporation.

Regards MINTER ELLISON

if you do not receive all pages please telephono +61 2 9921 8536

ME 105999280_1 (W2007)

IMPORTANT - The contents of this facsimile may be privileged and confidential. Any unauthorised use of the contents is expressly prohibited. If you have received the document in error, please advise us by telephone (reverse charges) immediately and then shred the document. Thank you.

$-604$ page 2/2 15 July 2001

Form 604 Corporations Act 2001
Section 6718

Notice of change of interests of substantial holder

To Company Nama/Scheme ACN/ARSN		Evolution Mining Limited Communication Communication
		084 669 036
1. Datalla of substantial holder (1) Name		Von Eck Associates Corporation (and its associates referred to in paragraph 6).
ACN/ARSN (if applicable) N/A
There was a change in the interests of the
substantial holder on		17/05/2013
The previous notice was given to the company on		11/09/2012
The previous notice was dated		07/09/2012

2. Provious and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the schome that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

. Class of securities (4)	Previous notice $\mathbf{r}$		Precent notice
	Person s votes	Voting power (5) .	Person's votes	Voting power (5)
Ordinary shares $\cdots$	143.596.716	__ 16% æ	\$50,810,629 communications for the cost with	7.18%
Property Community Community Community

3. Changes in relevant interests

Particulars of each change in, or chango in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or acheme, sinco the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7) .	Class and number of securities affected	Person's volce affected
	Van Eck Associates Corporation (VEAC)		and the company of the SALE Names of the American State 1. At	AM A 400 A 11 A 20 A
	and communicated and communicated			.

4. Present relavant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interast	Rogistered holder of securities	Person entitled to be registered as holder (8)	Naturo of relovant Interest (6)	Class and number of securities	Person's votes
VEAC	State Street Bank as custodian for Van Eck Funds - International ilnvestors Gold Fund	Van Eck Funds - linternational linvestors Gold Fund KIIG)	VEAC holds its relevant. interest by having the hower to exercise, control lihe exercise of, or influence the exercise of. ithe voting powers or disposal of the securities ito which the relevant interest relates in the o eauos vianitoid invesiment management business.	Ordinary shares 19.736.424	1.375%
MEAC	Bank of New York Mellon as custodian ilor Market Veclors Trust - Junior Gold 认例ners ETF	Market Vectors Trust ISame as above. Junior Gold Miners IETF (ODXJ)		Ordinary shares 36,799,410	5.197%

IVEAC	College Co Northern Trust ac icustodian for Lockhead Martin Corporation Master Retirement Trust	$\cdots$ lLockheed Marlin. Corporation Mester Rotirement Trust (LM)	Seme as above.	Ordinary shares 436,160	0.009%
NEAC	Credit Agricole as lcustodian for LODH linvest - The World Gold Expertise Fund	LODH Invest - The World Gold Expertise (Fund (LODH)	Samo as above.	Ordinary shares 2.306.691	0.326%
NEAC	UPMorgan as kustodian for Jackson IEck internationel National	. Jackson National/VaniSame as above. (Fund (JLGOLD)	the contract of the con-	Ordinary shares 1.453,600	0.205%
MEAC	Stale Street Bank as custodian for Van Eck VIP Global Gold VIP Trust - - VIP Global Gold	Man Eck VIP Trust - (VGOLD)	Service Same as above.	Ordinary shares 18,000	0.003%
NEAC	Warkel Vectors :Australia	Ali S&P/ASX 200 Resources: (ASX:RSR)	Same as above.	Ordinary shares 16,133	0.001%
NEAC	Market Vectors Australia	AII S&P/ASX 300 Metals and Mining (ASX:MAM)	Samo as above.	Ordinary shares 4.011	10.001%

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows: $\sim$

__ $-1 - 1$ ----- _________ ----- --------------------------------------- BARASA BARBADAS	Namo ard applicable)	---------- ACN/ARSN	(15	------- فستسدد ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Nature of association
				___
__ --------- .				-----------------

6. Addresses

The addresses of persons named in this form are as follows;

------------ Namo	1.11.11.11 Address
comment to a control NEAC	1335 Madleon Avenue, New York, NY 10017
Van Eck Securities Corporation	335 Madison Avenue, New York, NY 10017
Nan Eck Absolute Ratum Advisers, Inc.	1335 Madison Avenue, New York, NY 10017

Signature

print name Russell Brønnan	capacity 11.11	Assistant VP
sign hare $\leftarrow$ $\Theta$ p $\cdots$	dato	20/05/2013

$\ddot{\phantom{1}}$

DIRECTIONS

• If there are a number of substantial holders with similar or related relovant interests (eg. a corporation and its related corporations, or the manager and
  trustee of an equity trust), the names could be included in an ann $(1)$ is clearly set out in paragraph 6 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.

• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001, $(3)$

• $⁽⁴⁾$ The voting shares of a company constitute one class unless divided into separate classes.

• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(6)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy $\left( a\right)$ of any document softing out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, schame or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• $(b)$ any qualification of the power of e person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefils, money and other, that any person from whom a relevant interest was acquired has, or may,
  become entitied to receiva in relation to that acquisition. Dotails m $(7)$ are not paid directly to the person from whom the relevant interest was acquired.
• $(8)$ if the substantial holder is unable to determine the identity of the person (eg. If the relevant interest arises because of an option) write "unknown".
• $(9)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

GUIDE

This guide does not form part of the prescribed form and is included by ASIC to assist you in completing and lodging form 604.

Signature				This form must be signed by either a director or a secretary of the substantial holder.
Lodging period	Nil
Lodging Fee	ΝIΙ
Other forms to be completed	Nti
Additional Information	(a)			If additional space is required to complete a question, the information may be included on a separate piece of paper annexed to the form.
	(b)			This notice must be given to a listed company, or the responsible entity for a listed managed investment scheme. A copy of this notice must also be given to each relevant securities exchange.
	(c)			The person must give a copy of this notice:
		O)		within 2 business days after they become aware of the information; or
		(II)		by 9.30 am on the next trading day of the rolevant securities exchange after they become aware of the information if:
			(A)	a takeover bid is made for voting shares in the company or voting interests in the scheme; and
			(B)	the person becomes awere of the information during the bid period.
Annexures	1 2 3 4 5 6 7.			To make any annexure conform to the regulations, you must use A4 size paper of white or light pastel colour with a margin of at least 10mm on all sides show the corporation name and A.C.N or ARBN. number the pages consecutively print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible when photocopied idontify the annexure with a mark such as A, B, C, etc. endorse the annexure with the words: This is annexure (mark) of (number) pages referred to in form (form number and title) sign and date the annexure. The annoxure must be signed by the same parson(s) who signed the form.

Information in this guide is intended as a guide only. Please consult your accountant or solicitor for further advice.

Holder of relevant	Date of			Consideration	Consideration Non-
interest	Acquisition/Disposal	B/S		Cash	cash	Number of Securities
GDXJ	1/17/2013 8		\$		Markind	89,719
LODH	1/17/2013 5		\$	621,589	-5	383,000
GDXJ	1/18/20138		\$	17.	In-Kind	64,080
GDXJ	1/22/2013 B		\$		In-Kind	550,916
GDXJ	$1/23/2013$ B		\$		In-Kind	38,457
GDXJ	1/24/2013 5		\$	Ŧ.	In-Kind	25,638
GDXJ	1/25/2013 5		\$	-	In-Kind	128,200
GDXJ	$1/28/2013$ S		$\overline{\mathsf{s}}$		In-Kind	51,284
GDXJ	$1/29/2013$ B		3		In-Kind	12,821
JLGOLD	$1/30/2013$ B		\$	138,205	\$	85,900
GDXJ	$1/30/2013$ B		\$		In-Kind	25,654
GDXJ	$2/1/2013$ B		\$		In-Kind	64,120
IIG	2/6/20135		\$	1,112,737	\$	745,000
GDXJ	2/6/2013 5		Ŝ		In-Kind	51,292
GDXJ	$2/11/2013$ S		\$	у.	In-Kind	38,472
GDXI	2/12/2013 S		\$		In-Kind	269,304
JLGOLD	2/13/2013 B		3	87,674	\$ ïъ	58,000
GDXJ	$2/13/2013$ S		Ś		In-Kind	25,648
GDXJ	2/15/2013 5		\$	ú.	In-Kind	153,888
GDXJ	2/20/2013 5		\$		In-Kind	51,304
GDXJ GDXJ	2/21/2013 5		\$	÷	In-Kind	25,654
	2/25/2013 B		Ś		In-Kind	38,475
GDXJ GDXJ	2/26/2013 B		इ	ν	In-Kind	25,646
GDXJ	$2/27/2013$ B 2/27/2013 8		\$ \$	٠	In-Kind
GDXJ	2/27/2013 S		\$	$\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\over$	In-Kind In-Kind
GDXJ	2/27/2013 5		\$		In-Kind	12,823
GDXJ	2/27/2013 S		\$	$\mathbf{u}$	In-Kind
GDXJ	2/28/2013 8		\$		In-Kind	25,644
GDXJ	$3/4/2013$ B		\$	u,	In-Kind	25,652
GDXJ	$3/6/2013$ B		$\overline{s}$		In-Kind	153,912
GDXJ	$3/7/2013$ B		इ		In-Kind	141,064
GDXJ	$3/8/2013$ B		$\mathcal{S}$		In-Kind	346,248
ILGOLD	$3/11/2013$ B		$\overline{\boldsymbol{s}}$	96,474	\$.	68,000
GDXJ	3/11/2013 S		$\overline{\mathsf{s}}$		In-Kind	218,059
GOXJ	3/12/2013 B		\$		In-Kind	76,950
GDXJ	$3/13/2013$ 5		Ş		In-Kind	115,407
GDXJ	$3/15/2013$ B		\$	3,842,860	Ś	2,744,900
GDXJ	$3/15/2013$ S		\$		In-Kind	51,260
GDXJ	$3/18/2013$ B		Ş		In-Kind	27,630
GDXJ	3/19/2013B		\$		In-Kind	13,818
GDXJ	3/20/2013 B		Ŝ		In-Kind	13,811
GDXJ	3/21/2013 8		\$		in-Kind	13,809
GDXJ	$3/22/2013$ B		\$		In-Kind	165,708
GDXJ	3/26/2013/6		Ş		In-Kind	27,618
GDXJ	$3/27/2013$ B		\$		In-Kind	13,812
GDXJ	$3/28/2013$ $B$		\$		In-Kind	27,622
GDXJ	$4/1/2013$ $5$		\$	'n,	In-Kind	27,618

This Is Annexure A of 2 pages referred to in Form 604 -Notice of change of interests of substantial holder

Page 1 of 2

Holder of relevant	Date of		Consideration	Consideration Non-
interest	Acquisition/Disposal	B/S	Cash	cash	Number of Securities
GDXJ	$4/3/2013$ S		\$	In-Kind	110,480
GDXJ	$4/4/2013$ S		ţ	In-Kind	13,813
JLGOLD	$4/8/2013$ B		\$ 56,529	Ś	43,000
GDXJ	4/12/2013 5		\$	In-Kind	248,616
GDXJ	4/15/2013 B		Ŝ $\blacksquare$	In-Kind	234,804
GDXJ	4/16/2013 S		\$ ä,	In-Kind	124,308
GDXJ	4/17/2013 5		\$ $\Delta$	In-Kind	97.853
GDXJ	$4/18/2013$ B		Ŝ 440,009	Ś	446,669
LODH	$4/18/2013$ s		$\overline{\boldsymbol{s}}$ 108,274	ζ	115,000
JLGOLD	4/22/2013 B		\$ 115,083	\$	121,000
GDXJ	4/22/2013 5		\$	In-Kind	55,940
GDXJ	4/24/2013 5		\$ m,	In-Kind	83,910
GDXJ	4/25/2013 5		3 ۵Ė,	In-Kind	237,745
GDXJ	4/26/2013 S		$\overline{\boldsymbol{\mathsf{s}}}$	In-Kind	167.844
VGOLD	4/29/2013 B		ξ 6,848	Ś	7,000
GDXJ	4/29/2013 5		ś	In-Kind	69,940
GDXJ	4/30/2013 5		3	In-Kind	111,872
GDXJ	5/1/2013 5		\$	In-Kind	13,984
GDXJ	$5/7/2013$ S		\$	In-Kind	55,964
GDXJ	5/8/2013 S		5	In-Kind	55,972
GDXJ	5/9/2013 5		Ŝ	In-Kind	27,984
VGOLD	$5/15/2013$ B		\$ 3,020	\$ $\ddot{}$	3,000
VGOLD	$5/15/2013$ B		\$ 2,824	Ŝ	3,000
GDXJ	$5/15/2013$ s		\$	In-Kind	27,980
GDXJ	$5/16/2013$ S		5	In-Kind	41,973
LM	5/17/2013 B		3 188,923	\$ $\frac{1}{2}$	216,000
$\overline{\text{IIG}}$	$5/17/2013$ B		\$ 3,935,906	\$	4,500,000
LODH	$5/17/2013$ B		\$ 944,617	3	1,080,000
VGOLD	5/17/2013 B		$\overline{\mathsf{s}}$ 6,997	3 ¥,	8,000
JLGOLD	5/17/2013 8		S 568,520	3	650,000

This is Annexure A of 2 pages referred to in Form 604 -Notice of change of Interests of substantial holder

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