EVOLUTION MINING LIMITED — Regulatory Filings 2003

Aug 5, 2003

6 August 2003

DEEPS GOLD INITIATIVE AND NICKEL DRILLING PROGRESS REPORT

Summary

• First Deeps Gold Initiative drill hole intersected a strong reef position assaying 5.8m @ 21.3 g/t gold from 608.4 metres.
• Follow-up nickel drilling has returned the best nickel assays of 12m @ 1.0% and 8m @ 0.9%.

Deeps Gold Initiative Drilling

Westonia Mines Limited ("WEZ") recently announced that it had commenced the Stage One drilling under the Deeps Gold Initiative program. Five holes are planned to test the gold-hosting Edna May Gneiss ("EMG") at depth with the aim of securing the longterm production future of the Westonia mining centre.

The first hole, WDD 097 (Figure 1) was completed at approximately 649 metres, having encountered target EMG between 470 and 620 metres. A major gold bearing reef structure was intersected between 608.4 and 614.2 metres, with an estimated true width of 5.0 metres.

Preliminary gold assays, using a partial extraction technique, returned an average grade of 21.3 g/t over the 5.8 metre interval. Final assays for the whole EMG intersected in WDD 097 will be reported in due course.

WEZ is encouraged by the success of the first drill hole in the Deeps Gold Initiative.

Nickel

WEZ has previously reported the discovery of nickel sulphide mineralisation (Figure 2) adjacent to the planned gold open pit (WRC 994: 16m @ 1.8% nickel from 44 - 60m; WRC 999: 10m @ 1.6% nickel from 30 - 40m (oxidised)). Five follow-up RC holes have so far been completed.

Three holes have been drilled (WRC 1006 - 1008) around WRC 994, and a previously drilled hole, WRC 992, has been assayed (Figure 3). Nickel assay results are as follows:

WRC 992: 13m @ 0.7% from 49 - 62m WRC 1006: 8m @ 0.6% from 36 - 44m WRC 1007: 8m @ 0.9% from 56 - 64m WRC 1008: 12m @ 0.7% from 36 - 48m

WRC 999 was followed up by WRC 1004 and WRC 1005. The holes are situated approximately 20 metres north and northwest of WRC 999, respectively and returned oxidised nickel mineralisation, as follows:

WRC 1004: 4m @ 0.8% from 28 - 32m IWRC 1005: 12m @ 1.0% from 20 - 32m

Further drilling and geophysics are in progress.

Diggers and Dealers Conference

Westonia is presenting at the Diggers & Dealers conference today and the presentation is available on the Company's website at www.westoniamines.com.au.

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Andrew Drummond Managing Director

Enquiries should be directed to the Managing Director and readers are encouraged to register on the Company's website (www.westoniamines.com.au) for automatic receipt of information.

FIGURE 1

FIGURE 2

FIGURE 3