EVOLUTION MINING LIMITED — Regulatory Filings 2017

Aug 2, 2017

==> picture [93 x 147] intentionally omitted <==

==> picture [136 x 135] intentionally omitted <==

ASX Code: IRC, IRCOA

Intermin Resources Ltd

SELF FUNDING THE SEARCH FOR AUSTRALIA’S NEXT GOLD DISCOVERY

COMPANY INVESTOR PRESENTATION

AUGUST 2017

Tel +61 8 9386 9534

iadmin@intermin.com.au

www.intermin.com.au

==> picture [49 x 77] intentionally omitted <==

Disclaimer and Forward Looking Statement

This Presentation is provided on the basis that neither the Company nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers, make any representation or warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in this Presentation and nothing contained in the Presentation is, or may be relied upon, as a promise, representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties that can be excluded by law.

The Presentation contains prospective financial material which is predictive in nature and may be affected by inaccurate assumptions or by known or unknown risks and uncertainties and may differ materially from results ultimately achieved. Please also see Competent Persons Statement on slide 20 and Cautionary and Forward Looking Statement on Slide 21.

All persons should consider seeking appropriate professional advice in reviewing the Presentation and all other information with respect to the Company and evaluating the business, financial performance and operations of the Company. Neither the provision of the Presentation nor any information contained in the Presentation or subsequently communicated to any person in connection with the Presentation is, or should be taken as, constituting the giving of investment advice to any person.

The information in this presentation that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr David O’Farrell, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr O’Farrell is a consultant to Intermin Resources Ltd. Mr O’Farrell has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr O’Farrell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Intermin Resources Ltd advises that resource parameters for the Teal, Menzies and Goongarrie Projects provided in this report are based on information compiled by Mr Simon Coxhell of CoxsRocks and for the Nanadie Well Project the information was compiled by Mr David O’Farrell, Mr Geoff Browne and Mr Simon Coxhell. All are Members of the Australasian Institute of Mining and Metallurgy, Mr O’Farrell, Mr Browne and Mr Coxhell are consultants to Intermin Resources Ltd. This information was prepared under the JORC Code 2012 for the Teal, Menzies and Goongarrie Projects. For the Nanadie Well Project the information was prepared and first disclosed under the JORC Code 2004 and has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. Mr O’Farrell, Mr Browne and Mr Coxhell have sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves’. Mr O’Farrell, Mr Browne and Mr Coxhell consent to the inclusion in this report of the matters based on their information in the form and context in which they appear.

2

==> picture [49 x 77] intentionally omitted <==

Presentation Agenda

==> picture [29 x 28] intentionally omitted <==

----- Start of picture text -----

1
----- End of picture text -----

Company Overview Teal Mining Project Goongarrie Lady Mining Project Exploration Project Pipeline Joint Venture Projects Growth through acquisition

2

3

4

5

6

==> picture [28 x 28] intentionally omitted <==

----- Start of picture text -----

7
----- End of picture text -----

Conclusion

3

==> picture [49 x 77] intentionally omitted <==

Company Introduction

• High quality landholding in the Goldfields of Western Australia

• Strong leadership with extensive WA gold mining and exploration experience

• Growth strategy centered on discovery and resource expansion through exploration

• Generating near-term cash by developing gold projects via third party infrastructure

• More than $7.7M banked since May with robust 2017 and 2018 mining project pipeline

• Largest ever drill program commenced for FY18 – 50% targeting new discoveries

• Pursuing regional consolidation opportunities of high potential exploration assets

• Joint ventures for multi-commodity non-core projects with quality partners

4

==> picture [49 x 77] intentionally omitted <==

Corporate Overview

Overview	M
Ordinary shares on issue	218.4
Listed Options ($0.17, 31 Aug 2018)	23.7
Share price (12mth $0.08 – $0.16)	$0.09
Market capitalisation	A$19
Cash position	A$3.2
Listed investments – (ASX:RWD)	A$1.4
Debt	Nil
Top 20 shareholding	64%
Directors	5%

==> picture [491 x 287] intentionally omitted <==

5

==> picture [49 x 77] intentionally omitted <==

Board and Senior Management

Board and management team +100yrs collective experience in WA Goldfields

Non-Executive Chairman

Managing Director

Peter Bilbe

Jon Price

• Mining Engineer with over 40 years’ experience

• Metallurgist with more than 27 years’ experience

• Former GM of St Ives and Paddington gold mines and founding Managing Director of Phoenix Gold which was acquired by Evolution Mining for $74.3M in 2015

• Has held senior management positions at Mount Gibson Iron, Aztec Resources, Portman, Aurora Gold and Kalgoorlie Consolidated Gold Mines

• Experience across all aspects of operations, feasibility studies, exploration, corporate functions, financing, capital raisings and mergers and acquisitions

• At Phoenix, consolidated prospective tenure in the WA Goldfields and built 4Moz resources through exploration

• • Experience across company management, exploration, development, construction and mining operations

• Current Chairman of Independence Group

Non-Executive Director

Executive Director

Lorry Hughes

Peter Hunt

• Economic Geologist with over 22 years’ experience

• Accountant with more than 40 years experience

• Former CEO of South Boulder Mines (now Danakali) and senior roles with CSA Global, Rio Tinto and Barrick Gold

• Member of the Institute of Chartered Accountants in Australia and an experienced Company Director

• Extensive geological, exploration, feasibility study, resource development experience and mine planning optimisation at numerous WA and offshore gold mines

• Chairman of the Company’s Audit Committee

• Current Non-Executive Director of UXA Resources Limited

6

==> picture [49 x 77] intentionally omitted <==

Asset Overview

• Quality gold assets in the heart of the WA goldfields

• 100% ownership of 380km[2] on Bardoc, Abattoir and Zuleika shear zones in close proximity to Kalgoorlie

• 180km[2] acquired in last 12 months

• Limited modern exploration in last 20 years

• Walk up drill targets for new discovery exploration

• Existing JORC 2012 Resource of 356,000oz grading 2.24g/t[1]

• Comprehensive regional geological data base

• Assets close to existing third party milling infrastructure

• Strategic joint ventures in place at no cost to Intermin

==> picture [404 x 496] intentionally omitted <==

1 As announced to the ASX on 22 March 2017, see also JORC Table, Notes and Competent Persons Statement on Slide 20

7

==> picture [49 x 77] intentionally omitted <==

Building Project Pipeline

Teal

Reserves

Goongarrie Lady, Teal Stage 2, 3

Advanced Mining Projects

Increasing Confidence

Mine

Optimisation Studies and Anthill, Peyes Farm, Jacques Find, Resource drilling Teal deeps, Baden Powell

Resources

New discovery Targets

Blister Dam, New Mexico, Windanya, Olympia, Black Flag, Kanowna Nth, Janet Ivy Sth, Bullabulling

Drill

8

==> picture [49 x 77] intentionally omitted <==

Teal Mine – Generating Cash

• First mining project commenced at Teal Stage 1 in November 2016

• Structured in lower risk profit share alliance with mining contractor RM Contracting

• Approximately one third of planned Stage 1 ore mined by July of 65,000t grading >3g/t Au

• Processing through third party milling facility with A$7.7M received in revenue to date

• Total mining of 170kt of ore grading 3.2g/t expected to be completed in October with final ore sales in the December Quarter[1,2]

• All in Costs of ~A$1,030 – A$1,090 per ounce[1,2]

• Cash generation to Intermin from 15-16koz recovered of ~A$7-8m at A$1,600/oz gold price[1,2]

==> picture [411 x 456] intentionally omitted <==

1 See forward looking and cautionary statement on slides 2 and 21 2 As announced to the ASX on 6 July 2016 and 25 July 2017

9

==> picture [49 x 77] intentionally omitted <==

Strong Potential for Teal Stage 2 and 3

==> picture [515 x 424] intentionally omitted <==

• Positive mill reconciliation, grade control model review and pit mapping identified additional oxide ore to the east and south

• Stage 2 comprises a cut back to the East[1]

• Stage 3 comprises cutback to the South[1] over 200m along strike

• Additional infill drilling underway for the Stage 3 cutback

• Potential to commence Stage 2 in December Quarter with existing fleet[1]

• Feasibility studies for both stages under way for completion in the September and December Quarters

1 See forward looking and cautionary statement on slides 2 and 21

10

==> picture [49 x 77] intentionally omitted <==

Goongarrie Lady – Next Mining Project

• Positive Scoping Study completed and Feasibility Study due December quarter

Ore Haulage 2.2km to Goldfields Highway

• Extending existing pit mined in the 1980s

• Planned mining of 140kt of ore grading 3.4g/t over seven months

• 5,000m of drilling to upgrade resource to Measured category underway

• Processing through third party milling facility – negotiations underway

• Highly profitable with forecast All in Costs of A$1,000 - $1,100 per ounce[1,2]

• Forecast cash generation to Intermin of $7M - $8M from 14,700oz recovered at A$1,600/oz gold price[1,2]

1 See forward looking and cautionary statement on slides 2 and 21 2 As announced to the ASX on 3 April 2017

11

==> picture [49 x 77] intentionally omitted <==

New Discovery Targets

• All projects within significant gold bearing shear zones surrounded by large mining companies

• Several recent new discoveries are testament to the potential of the region

• High priority walk up drill targets identified at:

• Blister Dam / New Mexico

• Anthill and Anthill extended

• Olympia / Windanya

• Kanowna North

• Baden Powell

• Janet Ivy South

• Majority of project areas have not been drilled in more than 15 years and have been subject to limited modern exploration

• Historical drilling generally very shallow given the lower gold prices of the day

==> picture [380 x 464] intentionally omitted <==

12

==> picture [49 x 77] intentionally omitted <==

Major FY18 Drill Program Underway

==> picture [403 x 403] intentionally omitted <==

• Largest ever drill program of 32,000m for FY18 – 50% of drilling budget on greenfields targets

• Targeting based on results of recent drill campaigns and six month review of geological, geochemical, geophysical and historic databases

• Program to target the Anthill project acquired in March 2017 – upgrading and extending quoted 160,000oz resource[1]

• Substantial 6,700m new discovery program at Blister Dam/New Mexico testing 21 targets including historic drill hits of 9m at 3.43g/t Au

• First pass drilling of Black Flag, Bullabulling and Janet Ivy South targets

• Funding and flexibility to rapidly expand programs following strong results

1 As announced to the ASX on 8 March and 6 July 2017

13

==> picture [49 x 77] intentionally omitted <==

Eastern Goldfields JV

• Joint Venture with Eastern Goldfields for Menzies and Goongarrie projects secured in September 2016[1]

• Objective to build sufficient mining inventory to support a new high-grade mill in the Mount Ida / Menzies region

• Eastern Goldfields to sole fund and manage $5.5M in exploration and development studies to earn a 65% interest in both projects

• Staged farm-in whereby Eastern Goldfields can earn:

• 25% through spending $2M within the first two years

• A further 25% by spending $2M in the following two years

• A final 15% by spending $1.5M on a BFS to support a new mill

• Eastern Goldfields subscribed for $1.5M in shares (6%)

• ~

• Within 70km of Eastern Goldfields recommissioned Davyhurst mill providing toll treatment alternative

• Existing resource of 171.3koz on Intermin tenements

• Goongarrie Lady development project excluded from JV

==> picture [347 x 491] intentionally omitted <==

1 As announced to the ASX on 5 September 2016 and 1 June 2017

14

==> picture [49 x 77] intentionally omitted <==

Strategic Joint Ventures1-4

Evolution Mining (ASX:EVN)

Binduli JV - Gold

• EVN can earn 70% after $4.6M spend by 2020[1]

• EVN manages exploration and tenure

• Tenure in close proximity to EVN’s Mungari mill

• Seismic survey complete as part of drill target generation

• Aircore drilling program for 3,500m undertaken in June quarter[1]

Mithril Resources (ASX:MTH)

Nanadie Well JV - Copper-Gold-PGEs

• Can earn 75% after $4m spend by 2021

• Prospective for gold, copper, nickel, PGEs

• Current Resource of 151kt Cu and 74koz Au

$21m total spend from quality JV partners at no cost to IRC offers significant value upside

AXF Resources (Private)

Richmond JV (QLD) - Vanadium-Molybdenum

• Can earn 75% after $6M spend by 2021

• Large multi-billion tonne Va-Mo Resource

• Metallurgical complexity key to commercial solution

• Large scale testwork program underway

• Bulk samples being collected for detailed testwork at accredited laboratories in China

Saracen Resources (ASX:SAR)

Lehmans JV - Gold

• Tenure 33km sq immediately north of Saracen’s Thunderbox operation

• Intermin 10% free carry to a decision to mine

• Recent drilling of EM conductor hit 30m of sulphidic mineralisation – assays awaited

• Cu-Ni-PGE targets for further drilling in FY18

3 As announced to the ASX on 16 April 2015.

1 As announced to the ASX on 16 April 2015.

15

4 As announced to the ASX on 5 April 2017.

2 As announced to the ASX on 5 April 2017.

==> picture [49 x 77] intentionally omitted <==

Growth Through Acquisition

==> picture [459 x 397] intentionally omitted <==

• Eight acquisitions completed to date[1]

• Added 180km[2] of prospective tenure

• Prospects have had little to no modern exploration

• The recent Anthill gold project acquisition[2] is the exception:

• Sits within the prolific Zuleika and Carnage shear zones

• Resource of 160,000oz at 1g/t (at 0.5g/t cut-off)

• Historic drilling returned results including[2] :

  • 44m at 2.4g/t Au from 56m, 42m at 2.1g/t Au from 50m

  • 5m at 19g/t Au from 159m, 4m at 17.9g/t Au from 89m

  • 3m at 31g/t from 134m, 1m at 89g/t Au from 76m

• Data review complete for drilling in the Sept Quarter

• Intermin continues to assess consolidation in the region at both asset and corporate levels

1 As announced to the ASX on 31 January 2017

16

2 As announced to the ASX on 8 March 2017

==> picture [49 x 77] intentionally omitted <==

Growth Strategy1

• Largest drill program in Intermin history (32,000m) being completed in FY18

• Combination of drill targets – new discovery, Resource growth and Reserve conversion

• Cash balance growing rapidly from Teal mining project which is now largely de-risked

• Further mining stages at Teal under Feasibility Study for release in Sept and Dec Qtrs

• • Goongarrie Lady Feasibility Study due in late 2017 followed by a development decision

• Multiple, active joint ventures in multiple commodities on non-core projects

• Potential acquisition and consolidation of assets or companies in the WA goldfields

• Continue to maintain conservative cost culture as we pursue our growth initiatives

17

1 See forward looking and cautionary statement on slides 2 and 21

==> picture [49 x 77] intentionally omitted <==

Conclusion

• High quality landholding in the Goldfields of Western Australia

• Strong leadership with extensive WA gold mining and exploration experience

• Growth strategy centered on discovery and resource expansion through exploration

• Largest ever drill program underway for FY18 – half of budget targeting new discoveries

• Generating near-term cash by developing gold projects via third party infrastructure

• More than $7.7M banked since May with robust 2017 and 2018 mining project pipeline

• Pursue regional consolidation opportunities of high potential exploration assets

• Joint ventures for multi-commodity non-core projects with quality partners

18

==> picture [49 x 77] intentionally omitted <==

Contact Information

==> picture [90 x 89] intentionally omitted <==

ASX Code: IRC, IRCOA

Jon Price MSc (Mineral Economics) MAusIMM, MAICD Managing Director Lorry Hughes BSc (Geology) MAusIMM Director - Business Development Telephone +61 (08) 9386 9534 Facsimile +61 (08) 9389 1597 Email iadmin@intermin.com.au Postal Address PO Box 1104 Nedlands WA 6909 Office Address 163 Stirling Highway Nedlands WA 6009 ACN 007 761 186 ABN 88 007 761 186 WEBSITE www.intermin.com.au

19

A endix – JORC Resource Statement pp

Deposit (1g/t cut-off)		Measured			Indicated			Inferred			Total Resource	Total Resource
	Mt	Au (g/t)	Oz	Mt	Au (g/t)	Oz	Mt	Au (g/t)	Oz	Mt	Au (g/t)	Oz
Menzies
Pericles				0.530	2.49	42,500				0.530	2.49	42,500
Yunndaga							1.580	2.03	103,000	1.580	2.03	103,000
Bellenger/ Warrior				0.240	2.63	19,900	0.070	2.49	5,910	0.310	2.59	25,810
Kalgoorlie
Teal	0.333	2.56	27,423	0.608	1.98	38,760	0.550	2.25	38,260	1.491	2.18	104,443
Peyes Farm				0.148	1.74	8,300	0.361	1.72	19,980	0.509	1.73	28,280
Jacques Find							0.257	3.22	26,680	0.257	3.22	26,680
Goongarrie				0.200	3.30	21,321	0.070	1.64	3,707	0.270	2.86	25,028
TOTAL	0.333	2.56	27,423	1.726	2.36	130,781	2.888	2.13	197,537	4.947	2.24	355,741

Competent Persons Statement - The information in this report that relates to Exploration results, Mineral Resources or Ore Reserves is based on information compiled by Messrs David O’Farrell, Simon Coxhell and Andrew Hawker. All are Members of the Australasian Institute of Mining and Metallurgy, Mr David O’Farrell is a full time employee of Intermin and Messrs Simon Coxhell and Mr Andrew Hawker are consultants to Intermin Resources Limited. The information was prepared and first disclosed under the JORC Code 2004 and has been updated to comply with the JORC Code 2012 except in the case of Peyes Farm, Jacques Find, Bellenger and Warrior Resources as they were first discosed and reported under the JORC Code 2012. Messrs O’Farrell, Coxhell and Hawker have sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that they are undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration, Results, Mineral Resource and Ore Reserves’. Messrs O’Farrell, Coxhell and Hawker consent to the inclusion in this report of the matters based on their information in the form and context in which they appear.

20

==> picture [58 x 92] intentionally omitted <==

Disclaimer and Forward Looking Statement

Some statements in this report regarding estimates or future events are forward looking statements. They include indications of, and guidance on, future earnings, cash flow, costs and financial performance. Forward looking statements include, but are not limited to, statements preceded by words such as “planned”, “expected”, “projected”, “estimated”, “may”, “scheduled”, “intends”, “anticipates”, “believes”, “potential”, “could”, “nominal”, “conceptual” and similar expressions. Forward looking statements, opinions and estimates included in this announcement are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward looking statements are provided as a general guide only and should not be relied on as a guarantee of future performance. Forward looking statements may be affected by a range of variables that could cause actual results to differ from estimated results, and may cause the Company’s actual performance and financial results in future periods to materially differ from any projections of future performance or results expressed or implied by such forward looking statements. These risks and uncertainties include but are not limited to liabilities inherent in mine development and production, geological, mining and processing technical problems, the inability to obtain any additional mine licenses, permits and other regulatory approvals required in connection with mining and third party processing operations, competition for among other things, capital, acquisition of reserves, undeveloped lands and skilled personnel, incorrect assessments of the value of acquisitions, changes in commodity prices and exchange rate, currency and interest fluctuations, various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions, the demand for and availability of transportation services, the ability to secure adequate financing and management’s ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward looking statements will prove to be correct.

Statements regarding plans with respect to the Company’s mineral properties may contain forward looking statements in relation to future matters that can only be made where the Company has a reasonable basis for making those statements.

This announcement has been prepared in compliance with the JORC Code (2012) and the current ASX Listing Rules.

The Company believes that it has a reasonable basis for making the forward looking statements in the announcement, including with respect to any production targets and financial estimates, based on the information contained in this announcement.

21

==> picture [49 x 77] intentionally omitted <==

Exploration success

• Major drilling programs completed in 2016

• :

• Significant results returned include[1]

• 15m @ 4.28g/t Au from 73m,

• 15m @ 4.24g/t Au from 130m and

• 3m @ 12.04g/t Au from 80m from Teal

• 13m @ 5.42g/t Au from 55m and

• 9m @ 5.14g/t Au from 82m from Peyes Farm

• 11m @ 7.75g/t Au from 51m,

• 9m @ 6.99g/t Au from 89m and

• 5m @ 7.44g/t Au from 73m from Jacques Find

• 13m @ 5.36g/t Au from 29m from Goongarrie

• Orebodies remain open along strike and at depth

• Follow up drill targets identified for next campaign

==> picture [458 x 502] intentionally omitted <==

22

1 As announced to the ASX on 31 January 2017, 1, 7 and 14 February 2017 and 1 and 22 March 2017