EVOLUTION MINING LIMITED - Regulatory Filings 2015

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ASX Announcement ASX: ERM ABN: 53 117 086 745

15 July, 2015

Significant copper sulphides intersected JV approves aggressive new program

Multiple zones of copper sulphide mineralisation intersected in pre-collar to deep diamond drill hole GODD032. Samples dispatched for analysis
New copper zones interpreted as extensions to the nearby Goanna discovery, some 800m to the east
Exploration budget for the September quarter approved and includes an aggressive drill program of 28,000m
All exploration continues to be funded by Evolution Mining Limited pursuant to the farm-in agreement

Emmerson Resources Limited (“Emmerson”, ASX:ERM) is pleased to provide the following update on its deep drilling program at the Tennant Creek project. Drill hole GODD032 is co-funded as part of the Northern Territory’s “Creating Opportunities for Resources Exploration” (CORE) initiative and is planned to a total depth of 1,200m. This will assist in validating the new geological and structural interpretation based on the recent 2D seismic traverse and, test for gold mineralisation, some 400m beneath the historic underground Gecko copper workings (figures 1 & 2).

The pre-collar to this deep hole has unexpectedly intersected multiple zones of copper sulphide mineralisation associated with quartz - chlorite veins, very analogous to the recently discovered Goanna mineralisation some 800m to the east (figures 3, 4 & 5). Further infill drilling will be required to confirm this as it has important economic implications with regard to adding additional copper resources close to the existing mine development (figure 1). Samples have been dispatched for analysis.

The drill hole has now switched to diamond core and is progressing towards the deeper target zones.

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Emmerson is also pleased to announce that following a meeting in Tennant Creek with its partner, Evolution Mining Limited, an aggressive 28,000m drilling program has been approved for the September quarter involving the drill testing of a variety of high calibre gold targets. The portfolio of targets generated in the early part of this year are now moving into the more interesting drill testing stage and consist of:

12,000m of regional greenfields RAB drilling over a number of targets within the Eastern Project Area (EPA). This will assist in developing drill targets along a newly discovered shear zone where prospectors have found gold nuggets and where the recent aeromagnetic survey has indicated the presence of buried ironstones;
12,000m of RC drilling spread across newly identified “off hole” magnetic gold targets at Chariot and three new greenfield targets within the EPA; and
4,000m of diamond drilling to test a recently identified “off hole” magnetic target at Chariot East and to further test two high calibre, buried ironstone targets in the EPA – these projects were generated from our new predictive targeting model where key geological, geochemical and geophysical attributes are strongly correlated with the known large deposits in Tennant Creek. This modelling suggests these targets contain all the attributes of much larger deposits and have been overlooked in previous programs.

Media Enquiries:

Phil Retter NRW Communications Tel: +61 407 440 882 [email protected]

Investor Enquiries:

Mr Rob Bills Managing Director & Chief Executive Officer Tel: +61 8 9381 7838 www.emmersonresources.com.au

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About Tennant Creek and Emmerson Resources

The Tennant Creek Mineral Field (TCMF) is one of Australia’s highest grade gold and copper fields producing over 5.5 Mozs of gold and 470,000 tonnes of copper from a variety of deposits including Gecko, Orlando, Warrego, White Devil, Chariot and Golden Forty, all of which are within Emmerson Resources (ASX: ERM) exploration and joint venture portfolio. These deposits are considered to be highly valuable exploration targets and, utilising modern exploration techniques, Emmerson has been successful in discovering copper and gold mineralisation at Goanna and Monitor in late 2011, the first discoveries in the TCMF for over a decade. To date, Emmerson has only covered 5.5% of the total tenement package (in area) with these innovative exploration techniques and is confident that, with further exploration, more such discoveries will be made.

Emmerson holds 2,500km[2] of ground in the TCMF, owns the only gold mill in the region and holds a substantial geological database plus extensive infrastructure and equipment. Emmerson has consolidated 95% of the highly prospective TCMF where only 8% of the historical drilling has penetrated below 150m.

Emmerson is led by a board and management group of experienced Australian mining executives including former MIM and WMC mining executive Andrew McIlwain as non-executive chairman, and former senior BHP Billiton and WMC executive Rob Bills as Managing Director and CEO.

Pursuant to the Farm-in agreement entered into with Evolution Mining Limited (Evolution) on 11 June 2014, Evolution is continuing to sole fund exploration expenditure of $15 million over three years to earn a 65% interest (Stage 1 Farm-in) in Emmerson’s tenement holdings in the TCMF. An option to spend a further $10 million minimum, sole funded by Evolution over two years following the Stage 1 Farm-in, would enable Evolution to earn an additional 10% (Stage 2 Farm-in) of the tenement holdings. Evolution must spend a minimum of $7.5 million on exploration, or pay Emmerson the balance in cash, before it can terminate the farm-in. Emmerson is acting as manager during the Stage 1 Farm-in and is receiving a management fee during this period. Exploration expenditure attributable to the Stage 1 Farm-in to date is approximately $5 million.

About Evolution Mining

Evolution Mining (ASX:EVN, www.evolutionmining.com.au) is a leading, growth-focused Australian gold miner. The Company operates five wholly-owned mines – Cracow, Mt Carlton, Mt Rawdon and Pajingo in Queensland and Edna May in Western Australia.

Group production for FY14 totalled 427,703 ounces gold equivalent at an All-In Sustaining Cost of A$1,083/oz. FY15 production guidance from its five existing operating assets is 400,000 – 440,000 ounces gold equivalent at All-in Sustaining Cost in the range of A$1,050 – A$1,130/oz.

Regulatory Information

The Company does not suggest that economic mineralisation is contained in the untested areas, the information contained relating to historical drilling records have been compiled, reviewed and verified as best as the Company was able. As outlined in this announcement the Company is planning further drilling programs to understand the geology, structure and potential of the untested areas. The Company cautions investors against using this announcement solely as a basis for investment decisions without regard for this disclaimer.

Competency Statement

The information in this report which relates to Exploration Results is based on information compiled by Mr Steve Russell BSc, Applied Geology (Hons), MAIG, MSEG. Mr Russell is a Member of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition and the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Russell is a full time employee of the Company and consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.