EVOLUTION MINING LIMITED — Regulatory Filings 2003

Jun 30, 2003

1 July 2003 ASX Release

COMMENCEMENT OF DEEPS GOLD INITIATIVE. NICKEL EXPLORATION AND INFILL OPEN PIT RESOURCE DRILLING

Westonia Mines Limited (ASX Codes: WEZ, WEZO) advises that three drilling programs, totalling over 6,000m of reverse circulation (RC) and diamond drilling, will begin in early July at the Westonia gold and nickel project. The drilling programs are designed to:

• increase the drilling density in the proposed Westonia gold open pit for a new ore resource estimation.
• test the continuity of gold mineralisation in the main gold bearing rock unit, between 400 and 700m depth (Deeps Gold Initiative).
• follow up the two recently reported nickel sulphide intersections (16m @ 1.8% Ni from 44m in WRC 994 & 10m @ 1.61% Ni from 30m in WRC 999) at depth.

Infill Open Pit Resource Drilling

An updated ore resource estimation by independent consultant, RSG Global (RSG), will be available shortly. In a draft report, RSG has revised downwards its earlier estimate of mineable open pit resources. It cited that in some key regions where there are high grade intersections and lower drill densities, its estimation techniques might have limited the resource.

RSG has recommended that by undertaking additional drilling in selected target regions, the potential exists to upgrade the resource and therefore improve the project economics. It has suggested that a limited program of infill drilling, to increase the level of data in those key areas of lower drilling density, is warranted.

WEZ has accepted the recommendation and, as a matter of priority, will drill 13 RC holes with diamond extensions. The drilling will total approximately 2,500m and will be undertaken in July. When the drill results are available, the resource estimation currently being completed will be revised.

With respect to the bankable feasibility study, due to be completed in the September quarter, all other test work and technical analysis has been concluded and capital estimates are being finalised. A Notice of Intent to re-initiate mining has recently been submitted to the Government authorities.

Deeps Gold Initiative

The Westonia Deeps Initiative aims to secure the longer term profitability of the Company by testing the multi-million ounce Westonia gold system to a depth of approximately 1,000m, to define ore reserves that can be mined from underground. WEZ aims to define a broad mineralised zone suitable for extraction by mechanised mining methods, initially utilising the decline that is already at a depth of 264m.

The Company has previously announced an initial \$500,000 commitment to the Initiative. Stage One of the program involves drilling five diamond drill holes (refer to plan, Figure 1) for a total of 3,000m, to test for gold mineralisation between 400 and 700m depth in the main host unit, Edna May Gneiss (EMG). The information gained will enhance targeting of the Stage Two holes, which will test between 700 and 1,000m depth.

Holes WDD 096 and WDD 097 will test for lateral extensions of gold mineralisation intersected in the second deepest hole drilled on the Project (WDD 083; 7.5m @ 9.1 g/t from 496.0m, 5.0m @ 7.2 g/t from 520.9m, 5.0 @ 5.8 g/t from 582.0m). They will also test for fault offsets of the Edna May Reef.

WDD 096 and WDD 098 will test for depth extensions of the South and Central/Middle Reef systems in the main Deeps Target Zone, and test the model that these reefs pass to the west of the Edna May Reef at depth.

Based on interpretation of the Company's recent detailed aeromagnetic survey and on resource definition drilling in the western part of the likely pit area, holes WDD 099 and WDD 100 will test the EMG in a region west of any previous deep drilling. If successful, this will open up a large new zone of EMG for follow-up evaluation.

Nickel Exploration

Five RC holes, for approximately 500m of drilling, are planned to test for immediate depth extensions to the previously reported nickel sulphide intersections at Westonia (7 May 2003 ASX release). The holes will be cased and down hole electromagnetic surveys will be run as required.

Andrew Drummond Managing Director

Enguiries 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.