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EVOLUTION MINING LIMITED Regulatory Filings 2020

Oct 26, 2020

64885_rns_2020-10-26_d24c3a9a-2610-4f4a-b1e7-d130f8449f81.pdf

Regulatory Filings

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QUARTERLY REPORT – For the period ending 30 September 2020

HIGHLIGHTS

Sector leading cash generation

  • Mine operating cash flow of A$272.3 million

  • Net mine cash flow of A$183.4 million

  • Record net mine cash flow at Ernest Henry (A$83.2M) and Mungari (A$44.9M)

  • All operations generated positive cash flow post capital

  • ▪ Group cash flow of A$118.9 million

  • Net bank debt of A$180.3 million (30 Jun 2020: A$196.4M) post FY20 final dividend of A$153.8 million

Sustainability

  • Maintained ‘A’ rating in MSCI ESG Ratings assessment

  • COVID-19 continues to be proactively managed with no material impact on operations

Operations tracking ahead of FY21 plan

  • Gold production of 170,021 ounces (excludes any contribution from Cracow which was divested on 1 July)

  • ▪ All-in Sustaining Cost (AISC)[1] of A$1,198 per ounce (US$857/oz)[2] ▪ All-in Cost (AIC)[3] of A$1,663 per ounce at an AIC margin of A$871 per ounce

Exploration drilling results continue to demonstrate resource growth and increasing confidence

  • Red Lake’s Cochenour: 3.35m (1.67m etw) grading 296.6g/t Au from 135.9m (C37230)

  • ▪ Cowal’s GRE46: 34m (23.8m etw) grading 5.5g/t Au from 529m (GRUD0186)

Delivering significant organic growth pipeline

  • Red Lake

  • Transformation plan progressing on schedule

  • Initial JORC Code 2012 Mineral Resource estimate of 11 million ounces

  • Six diamond drill rigs currently operating underground to capture further exploration upside

  • Cowal

  • Underground mine development application submitted for regulatory approval

  • Integrated Waste Landform (IWL) Stage 1 completed with first deposition achieved in October

  • Board and regulatory approval received in October to develop Galway exploration decline

Consolidated production and sales summary

Units Dec Qtr
FY20		 Mar Qtr
FY20		 Jun Qtr
FY20		 Sep Qtr
FY21
Gold produced oz 170,890 **165,502 ** 218,104 170,021
By-product Silverproduced oz 137,262 118,224 233,252 164,069
By-product Copperproduced t 5,572 4,832 6,684 5,552
C1 Cash Cost A$/oz 778 **767 ** 761 889
All-In Sustaining Cost1 A$/oz 1,069 991 1,088 1,198
All-In Cost3 A$/oz 1,584 1,584 1,562 1,663
Gold sold oz 173,408 167,374 218,685 172,759
Achieved gold price A$/oz 2,091 2,366 2,500 2,534
Silversold oz 144,757 118,472 218,239 173,909
Achieved silverprice A$/oz 24 27 24 35
Coppersold t 5,612 4,801 6,585 5,598
Achieved copperprice A$/t 8,802 8,174 8,192 9,668

  1. Includes C1 cash cost, plus royalties, sustaining capital, general corporate and administration expense. Calculated per ounce sold

  2. Using the average AUD:USD exchange rate of 0.715 for the September 2020 quarter

  3. Includes AISC plus growth (major project) capital and discovery expenditure. Calculated per ounce sold

Evolution Mining Limited Quarterly Report September 2020

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OVERVIEW

Evolution continues to be recognised for its Sustainability performance, maintaining an ‘A’ rating in the MSCI ESG Ratings assessment. The Company also ranked among the top five industry leaders globally for ‘Health and Safety’ and ‘Business Ethics’.

Leading safety indicators are trending well with an increase in field safety interactions and a 31% increase in hazard reporting. Group Total Recordable Injury Frequency (TRIF)[1 ] at 30 September was 7.1 (30 June 2020: 6.8). Key initiatives during the quarter to improve safety performance included an increased focus on back to basics, quality field leadership and high-quality focused safety interactions.

As part of Evolution’s ongoing Community Investment efforts, two Sustainability Projects were approved during this quarter. These were a Fire Recovery Support project at Red Lake and an upgrade to the Mt Perry Summit Walk at Mt Rawdon.

COVID-19 continues to be proactively managed with no material impact to operations.

Group gold production for the September 2020 quarter was 170,021 ounces (Jun qtr: 218,104oz) at an AISC of A$1,198/oz (Jun qtr: A$1,088/oz). Using the average AUD:USD exchange rate for the quarter of 0.715, Group AISC equated to US$857/oz which places Evolution at the bottom of the cost curve amongst major and mid-tier global gold producers. All-in costs (AIC) of A$1,663/oz resulted in an AIC margin of A$871/oz.

As at 30 September 2020, Evolution had cash in the bank of A$369.7 million and bank debt of A$550.0 million post the cash payment of A$153.8 million for the final FY20 dividend.

Evolution delivered mine operating cash flow and net mine cash flow of A$272.3 million and A$183.4 million respectively (Jun qtr: A$352.1M; A$224.5M). Mine capital investment for the quarter was A$88.1 million (Jun qtr: A$111.5M).

On 13 August 2020, Evolution announced its first JORC Code 2012 Mineral Resource estimate at Red Lake of 48.1Mt grading 7.1g/t for 11.0Moz[2] . This includes 4.3Moz at an average grade of 10.5g/t in Upper Campbell. Work has commenced on the estimation of a maiden JORC Code Ore Reserve which is planned to be released with Evolution’s Group Mineral Resources and Ore Reserves Statement in the March 2021 quarter.

On 30 September 2020 a major milestone was achieved for the Cowal underground mine development with the submission of the Significant State Development (SSD) Application and the Modification 16 Development Application to the New South Wales Department of Planning, Industry and Environment. An Environmental Impact Study forms part of the SSD Application and is on public display until 22 November 2020.

Subsequent to the end of the quarter, the Board approved development of the Galway exploration decline which will enable additional drilling to increase underground Ore Reserves and will also be used for future production. The 2,300 metre decline has received regulatory approval. This is another important milestone in growing Cowal’s production to over 350,000 low cost ounces per annum.

Drilling at Cochenour, Red Lake, targeting new discoveries returned strong results with the best intersections of 1.27m grading 11.72g/t Au from 265.75m (Thor) and 0.31m grading 627.75g/t Au from 273.95m (Voss). Resource definition drilling is increasing confidence in geological and grade continuity to grow the short to medium term mining inventory at Cochenour and Twin Otter.

Numerous significant drill intersections at the Cowal underground including 34m (23.8m etw) grading 5.5g/t Au from 529m (GRUD0186) continued to provide robust infill results. Extensional resource drilling down plunge of Regal and Dalwhinnie returned a best result of 19m (13.3m etw) grading 15.6g/t Au from 635m (1535DD544B). Results will be reflected in the next resource model update.

Standout operational performances for the quarter:

  • Ernest Henry produced 24,569oz at an AISC of A$(515)/oz generating record net mine cash flow of A$83.2 million

  • Mungari produced 35,370oz at an AISC of A$1,115/oz generating record net mine cash flow of A$44.9 million

  1. Total Recordable Injury Frequency (TRIF): The frequency of total recordable injuries per million hours worked.

  2. This information is extracted from the report entitled ‘Red Lake 11 Million Ounce JORC Code Mineral Resource” released to the ASX on 13 August 2020. See page 18 of this release for further details.

Evolution Mining Limited Quarterly Report September 2020

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OVERVIEW

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Group safety performance (TRIF)
8.4
7.2 7.1
6.8
FY20 Q2 FY20 Q3 FY20 Q4 FY21 Q1
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Group operating mine cash flow
400 (A$M)
350
300 352.1
250 272.3
200 257.4
233.1
150
100
50
0
FY20 Q2 FY20 Q3 FY20 Q4 FY21 Q1
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Group production (koz)

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218.1
170.9 165.5 170.0
FY20 Q2 FY20 Q3 FY20 Q4 FY21 Q1
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Group AISC (A$ per ounce)

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1,198
1,200 1,069 991 1,088
1,000
800
600
400
200
0
FY20 Q2 FY20 Q3 FY20 Q4 FY21 Q1
----- End of picture text -----

Summary of key projects

Cowal
Underground Significant State Development and Modification 16 applications submitted
Feasibility Study progressing on schedule
Galway exploration decline received Board and regulatory approval to
enable additional underground drilling
Integrated Waste Landform Stage 1 completed and first deposition achieved in October
Stage H cutback On track for completion bythe end of FY21
Satellite openpits Pre-FeasibilityStudycommenced for satellitepits outside E42
Red Lake
Transformationplan Progressingin line with schedule
Mineral Resources Initial JORC Code 2012 Mineral Resource of 11Moz declared
Ore Reserves Initial JORC Code 2012 Ore Reserves expected in March 2021quarter
Decline Surface decline study initiated to develop upper level ore access. Results
expected in March 2021quarter
Processing Pre-Feasibility Study to commence assessing long term processing
options. Results expected in June 2021quarter
Ernest Henry
Drilling below 1200RL CY2020 drillprogram of 18,000mprogressingin line withplan
Mungari
Processing Castle Hill processing study progressing. Outcome expected in June 2021
quarter

Evolution Mining Limited Quarterly Report September 2020

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OVERVIEW

September 2020 quarter production and cost summary[1]

Sep 2020 quarter Units Cowal Ernest
Henry		 Red
Lake		 Mungari Mt
**Rawdon **		 Mt Carlton Group
UG lat dev - capital m 0 263 1,479 532 0 450 2,723
UG lat dev - operating m 0 1,680 1,199 137 0 358 3,373
Total UG lateral
development		 m 0 1,942 2,678 669 0 808 6,097
UG ore mined kt 0 1,659 117 101 0 38 1,915
UGgrade mined g/t 0.00 0.59 6.42 3.93 0.00 5.48 1.22
OP capital waste kt 3,850 0 0 1,316 1,026 0 6,193
OP operatingwaste kt 606 0 0 89 971 1,039 2,704
OP ore mined kt 410 0 0 393 463 112 1,379
OPgrade mined g/t 0.87 0.00 0.00 1.09 1.03 2.39 1.11
Total ore mined kt 410 1,659 117 494 463 150 3,294
Total tonnes
processed		 kt 2,116 1,691 120 515 849 234 5,526
Gradeprocessed g/t 0.91 0.59 6.35 2.35 0.83 2.40 1.11
Recovery % 83.9 76.5 93.6 90.9 88.5 81.8 85.9
Goldproduced4 oz 51,774 24,569 26,638 35,370 20,024 11,646 170,021
Silverproduced oz 39,980 21,035 1,169 3,145 23,719 75,021 164,069
Copperproduced t 0 5,040 0 0 0 511 5,552
Gold sold oz 49,929 27,560 26,053 35,865 20,760 12,592 172,759
Achievedgoldprice A$/oz 2,501 2,505 2,586 2,557 2,467 2,660 2,534
Silver sold oz 39,980 21,035 1,169 3,145 23,719 84,861 173,909
Achieved silverprice A$/oz 34 27 36 35 35 36 35
Copper sold t 0 5,040 0 0 0 558 5,598
Achieved copperprice A$/t 0 9,720 0 0 0 9,193 9,668
Cost Summary
Mining A$/prod oz 145 1,045 389 477 1,670 527
Processing A$/prod oz 677 394 307 603 731 489
Administration and
selling costs		 A$/prod oz 144 282 102 161 553 212
Stockpile adjustments A$/prod oz (14) (97) 98 144 66 22
By-product credits A$/prod oz (26) (2,018) (2) (3) (103) (706) (361)
C1 Cash Cost A$/prod oz 926 (983) 1,623 893 1,281 2,313 889
C1 Cash Cost A$/sold oz 960 (876) 1,659 880 1,235 2,140 875
Royalties A$/sold oz 75 194 0 66 125 221 97
Gold in Circuit and
otheradjustments		 A$/sold oz (26) 11 9 (35) 280 12
Sustainingcapital2 A$/sold oz 10 167 377 151 138 17 137
Reclamation and other
adjustments		 A$/sold oz 8 27 9 74 16 18
Administration costs3 A$/sold oz 59
All-in Sustaining
Cost		 A$/sold oz 1,026 (515) 2,074 1,115 1,536 2,674 1,198
Majorproject capital A$/sold oz 837 0 271 302 237 (0) 374
Discovery A$/sold oz 75 0 85 105 4 59 90
All-in Cost A$/sold oz 1,938 (515) 2,430 1,522 1,777 2,732 1,663
Depreciation &
Amortisation4		 A$/prod oz 190 1,400 168 374 604 658 480

  1. All metal production is reported as payable. Ernest Henry mining and processing statistics are in 100% terms while costs represent Evolution's cost

  2. Sustaining Capital includes 60% UG mine development capital. Group Sustaining Capital includes A$2.36/oz for Corporate capital expenditure

  3. Includes Share Based Payments

  4. Gold production at Red Lake is gold production Payable

Evolution Mining Limited Quarterly Report September 2020

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OPERATIONS

Cowal, New South Wales (100%)

Cowal produced 51,774oz of gold at an AISC of A1,026/oz (Jun qtr: 60,594/oz, AISC A$941/oz).

Mine operating cash flow for the quarter was A$72.5 million (Jun qtr: A$117.4 million). Net mine cash flow was A$30.2 million (Jun qtr: A$59.3 million) post sustaining capital of A$0.5 million and major capital of A$41.8 million. Major projects investment included continuation of Stage H stripping, construction of the Integrated Waste Landform (IWL) tailings facility and the underground Feasibility Study (FS).

Total ore processed was 2.1Mt. A successful and safe execution of a planned major plant shut was completed in August. The recently adopted biannual shutdown strategy and completed capital plant upgrades are planned to result in increased plant utilisation and throughput. Gold recovery increased to 83.9% (Jun qtr: 83.2%) driven by improvements in the leaching and elution circuits.

In line with plan, the plant feed was sourced from stockpiles with ore sorting activities providing a complementary source of higher-grade feed. Stage H stripping continues to plan with increased volumes of ore expected to be accessed progressively through the remainder of FY21.

Ernest Henry, Queensland

(Economic interest; 100% gold and 30% copper production)[1]

Evolution’s interest in Ernest Henry delivered 24,569oz of gold and 5,040t of copper at an AISC of negative A$(515)/oz (Jun qtr: 28,183 oz Au and 5,835t Cu at A$(617)/oz).

Operating mine cash flow for the quarter was A$87.9 million representing the gold (A$69.0 million) and by-product sales of copper (A$49.0 million) and silver (A$0.6 million), net of Evolution’s contribution to operating costs of A$30.8 million. Ernest Henry generated a net mine cash flow for Evolution of A$83.2 million, post sustaining capital of A$4.6 million.

Ore mined was 1,659kt at an average grade of 0.59g/t gold and 1.10% copper. Underground lateral development was 2,277m, which includes 1,680m of operating development, 263m of capital development and 335m of rehabilitation development. Ore processed was 1,691kt at an average grade of 0.59g/t gold and 1.10% copper. Gold recovery of 76.5% and copper recovery of 94.0% was achieved with mill utilisation at 87.6%.

Operating cash costs (C1) was negative A$(983)/oz after accounting for copper and silver by-product credits (Jun qtr: A$(775)/oz). Cash operating costs (C1) included by-product credits of A$(2,018)/oz.

Copper sales in the quarter were 5,040t at an average copper price of A$9,720/t.

  1. All metal production is reported as payable. Ernest Henry mining and processing statistics are in 100% terms while costs represent Evolution’s costs and not solely the cost of Ernest Henry’s operation

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1,031 1,026
941
898
FY20 Q2 FY20 Q3 FY20 Q4 FY21 Q1
Production gold (oz) AISC (A$/oz)
65,080oz 60,554oz 60,594oz
51,774oz
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(188)
(526) (515)
(617)
FY20 Q2 FY20 Q3 FY20 Q4 FY21 Q1
Production gold (oz) AISC (A$/oz)
23,080oz 28,183oz 24,569oz
20,261oz
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Evolution Mining Limited Quarterly Report September 2020

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OPERATIONS

Red Lake, Ontario (100%)

Red Lake continues to make good progress in delivering the transformation plan to restore the operation’s production to above 200,000 ounces per annum at an AISC of less than US$1,000 per ounce. With the upgrade of Mineral Resources to 11Moz during the quarter, work is now also underway to achieve the long-term objective of 300,000 to 500,000 ounces of low-cost annual production.

Red Lake produced 26,638oz of gold at an AISC of A$2,074/oz (Jun qtr: 27,428oz, AISC of A$1,943/oz).

Mine operating cash flow for the quarter was A$21.6 million (Jun qtr: A$30.8 million). Net mine cash flow was A$4.7 million (Jun qtr: A$(2.9) million) post sustaining capital of A$9.8 million and major capital A$7.1 million.

In August the Red Lake community was impacted by a nearby forest fire resulting in an evacuation of the community and temporary suspension of operations. This resulted in an 11% reduction of available operating time in the quarter. There was no damage to the community or the operation.

Underground mine development for the quarter was 2,678m (July 1,144m; August 701m; and September 833m). Equipment and blasting availability caused additional downtime. Work continues towards achieving the target of 1,200m per month.

The underground mine produced ore feed of 117kt at an average grade of 6.42g/t gold. Ore processed was 120kt at an average grade of 6.35g/t gold and 93.6% recovery.

Mungari, Western Australia (100%)

Mungari delivered another strong quarter producing 35,370oz of gold at an AISC A$1,115/oz (Jun qtr: 37,178oz, AISC A$1,089/oz).

Mine operating cash flow for the quarter was a record A$61.2 million (Jun qtr: A$53.1 million). Net mine cash flow was also a record A$44.9 million (Jun qtr: A$39.8 million) post sustaining and major capital investment of A$16.3 million.

The strong cash margin was supported by a consistent feed of higher-grade underground ore and record plant throughput. Frog’s Leg underground production was in line with the operating plan with 101kt of ore mined at 3.93g/t gold (Jun qtr: 143kt at 4.19g/t gold). Total underground development was 669 metres.

In September development commenced along strike of the Boomer high grade vein following positive results from grade control drilling in July.

Total open pit material movement was 2,135kt. Open pit ore mined was 393kt grading 1.09g/t gold. Ore was sourced from Stage 3a and 3b of the White Foil pit and Cutters Ridge, which transitioned to fresh rock.

Plant throughput of 515kt was marginally above plan and exceeded the 2Mtpa rate. This is more than 25% higher than nameplate design of 1.6Mtpa. The average grade of processed ore was 2.35g/t gold. Gold recovery of 90.9% was achieved with a mill utilisation of 97.7%.

Transformation plan milestones achieved in September the quarter include:

  • 11Moz Mineral Resource estimate

  • An additional sixteen pieces of underground equipment decommissioned

  • Stage 7 dam lift progressed on schedule

  • Shaft decommissioning on schedule

  • Lead nitrate dosing at Campbell Mill

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1,943 2,074
FY20 Q2 FY20 Q3 FY20 Q4 FY21 Q1
Production gold (oz) AISC (A$/oz)
27,428oz 26,638oz
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1,344
1,099 1,089 1,115
FY20 Q2 FY20 Q3 FY20 Q4 FY21 Q1
Production gold (oz) AISC (A$/oz)
32,751oz 32,721oz 37,178oz 35,370oz
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Evolution Mining Limited Quarterly Report September 2020

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OPERATIONS

Mt Rawdon, Queensland (100%)

Mt Rawdon produced 20,024oz of gold at an AISC of A$1,536/oz (Jun qtr: 25,982oz; A$1,305/oz).

Mine operating cash flow was A$24.6 million (Jun qtr: A$34.6 million). Net mine cash flow of A$16.1 million (Jun qtr: A$32.3 million) was generated post sustaining and major capital investment of A$7.8 million.

Production was impacted in September by a rock fall in the open pit that prevented ramp access to higher grade material for three weeks. Total material mined was below plan at 2.5Mt but is expected to be recovered in the December quarter.

A total of 849kt of ore was processed at an average grade of 0.83g/t gold (Jun qtr: 829kt at 1.09g/t Au). Plant recovery was 88.5% and plant utilisation was 94.9%.

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1,815
1,536
1,357 1,305
FY20 Q2 FY20 Q3 FY20 Q4 FY21 Q1
Production gold (oz) AISC (A$/oz)
25,982oz
20,338oz 16,434oz 20,024oz
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Mt Carlton, Queensland (100%)

Mt Carlton produced 11,646oz of payable gold comprising in 15,959 dry metric tonnes (dmt) of gold in concentrate. No doré gold was produced in the quarter (Jun qtr: 14,991oz production; 13,471oz in concentrate; 1,520oz gold doré). AISC increased to A$2,674/oz (Jun qtr: A$1,324/oz).

Mine operating cash flow was A$4.5 million (Jun qtr: A$11.47 million). Net mine cash flow of A$4.3 million (Jun qtr: A$3.4 million) was generated post sustaining and major capital investment of A$0.2 million.

Mill throughput for the quarter totalled 234kt at 2.40g/t gold (Jun qtr: 211kt at 3.22g/t gold). Plant recoveries averaged 81.8% and plant utilisation was 94.3%.

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2,674
2,182
1,417 1,324
FY20 Q2 FY20 Q3 FY20 Q4 FY21 Q1
Production gold (oz) AISC (A$/oz)
9,787oz 13,306oz 14,991oz 11,646oz
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Evolution Mining Limited Quarterly Report September 2020

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FINANCIALS

Evolution’s group cash flow was A$118.9 million with a cash at bank balance at 30 September 2020 of A$369.7 million (30 June 2020: A$373.6 million) after paying A$153.8 million in dividends. Bank debt as at 30 September 2020 reduced to A$550.0 million post the scheduled quarterly repayment of A$20.0 million resulting in net bank debt of A$180.3 million.

During the September quarter Evolution sold 172,759oz of gold at an average gold price of A$2,534/oz (Jun qtr: 218,685oz at A$2,500/oz). Deliveries into the hedge book totalled 25,000oz at an average price of A$1,811/oz for the Australian operations, with 10,000oz delivered to the hedge book for Red Lake at an average price of C$2,271/oz. A total of 121,706oz of gold was sold at an average spot price of A$2,659/oz with the remaining 16,053oz from Red Lake sold at an average spot price of C$2,581/oz.

Operating and net mine cash flow for the September quarter were A$272.3 million and A$183.4 million respectively. Highlights included Ernest Henry generating a record net mine cash flow of $83.2 million for the quarter (Jun qtr: A$68.3 million) and Mungari delivering a third consecutive quarterly record net mine cash flow of A$44.9 million (Jun qtr: A$39.8 million).

All operations generated positive net mine cashflow during the quarter. This was after a total capital investment of A$88.1 million comprising A$23.5 million of sustaining capital and A$64.6 million of major project capital.

Cash flow
(A$ Millions)		 Operating
Mine Cash
**flow **		 Sustaining
Capital		 Major
Projects
Capital1		 Mine Cash
Flow		 Restructuring
Costs		 Net Mine
Cash Flow
Cowal 72.5 (0.5) (41.8) 30.2 0.0 30.2
Ernest Henry 87.9 (4.6) 0.0 83.2 0.0 83.2
Red Lake 21.6 (9.8) (7.0) 4.7 0.0 4.7
Mungari 61.2 (5.5) (10.8) 44.9 0.0 44.9
Mt Rawdon 24.6 (2.9) (4.9) 16.8 (0.8) 16.1
Mt Carlton 4.5 (0.2) 0.0 4.3 0.0 4.3
September
2020 Quarter		 272.3 (23.5) (64.6) 184.2 (0.8) 183.4
  1. Major Projects Capital includes 100% of the UG mine development capital

Key capital investment items for the quarter included:

  • Cowal: Stage H development (A$26.8 million); Integrated Waste Landform (A$6.7 million); underground mine Feasibility Study and drilling (A$6.0 million)

  • Red Lake: underground mine development (A$8.1 million) and replacement electrical drive hardware (A$1.9 million)

  • Mungari: Cutters Ridge mine development (A$7.4 million) and underground development drilling (A$4.5 million)

  • Mt Rawdon: Open pit mine development and tails storage buttressing project (A$4.9 million)

Discovery expenditure for the quarter was A$15.8 million (Jun qtr: A$20.6M). This included discovery drilling at GRE46 Cowal (A$3.6 million), Mungari (A$3.8 million), and Red Lake (A$2.4 million), continued investment at Crush Creek (A$2.9 million) and expenditure at exploration joint venture projects Cue and Murchison (A$2.0 million). A total of 71,164 metres were drilled across the Group (Jun qtr: 40,587m).

Corporate administration costs were A$10.4 million (Jun qtr: A$8.3M).

The FY20 final fully franked dividend of A$0.09 cents per share, equating to A$153.8 million, was paid to shareholders during the quarter.

Evolution Mining Limited Quarterly Report September 2020

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FINANCIALS

The table below highlights the cash flow and movements during the quarter:

Cash flow (A$ Millions) September 2020
Qtr & YTD
Operating Mine Cash flow 272.3
Total Capital (88.1)
Restructuring Costs (0.8)
Net Mine Cash flow 183.4
Corporate and discovery (26.2)
Net Interest expense (1.9)
Working Capital Movement (19.9)
Income Tax (16.6)
Group Cash flow 118.9
Dividend payment (153.8)
Debt repayment (20.0)
Acquisitions & Integration (4.7)
Divestments 55.8
Net Group Cash flow (3.8)
Opening Cash Balance 1 July 2020 373.6
Closing Cash Balance 369.7

Evolution’s hedge book as at 30 September 2020 for the Australian operations was 275,000oz at an average price of A$1,877/oz for deliveries of 25,000oz per quarter to June 2023. Red Lake’s hedge book comprises 110,000oz at C$2,272/oz with deliveries of 10,000oz per quarter through until June 2023.

Interactive Analyst Centre[TM]

Evolution’s financial, operational, resources and reserves information is available to view via the Interactive Analyst Centre[TM] provided on our website www.evolutionmining.com.au under the Investors tab. This useful interactive platform allows users to chart and export Evolution’s historical results for further analysis.

Evolution Mining Limited Quarterly Report September 2020

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EXPLORATION

Highlights

Red Lake

  • Resource definition and discovery drilling is ongoing with six underground drill rigs. Results of definition drilling continue to be in line with expectations and will support resource classification upgrades at Cochenour and the Twin Otter Zone. Work on an updated resource model was completed resulting in an initial JORC Code 2012 Mineral Resource of 48.1Mt grading 7.1g/t for 11Moz. Encouraging results are being received from discovery drilling at the Thor and Voss targets along strike of Cochenour.

Cowal

  • Drilling at the Cowal underground was focused on resource conversion and extending mineralisation beyond the current 2.9 million ounce underground resource outlines. Results will be incorporated into a resource model update as part of Evolution’s Annual Mineral Resources and Ore Reserves Statement to be released in the March 2021 quarter.

Mungari

  • Extensions along strike of the Boomer structure have been drilled south of the main Boomer resource area. Drilling was also completed on the Picante trend. Assay results from both programs are expected in the December 2020 quarter.

Mt Carlton

  • Drilling continued at Crush Creek 30km southeast of Mt Carlton with a focus on understanding and expanding the mineralisation at BV7 along with testing the Delta area for new discovery. Results from the drilling program are confirming our assumptions that Crush Creek will deliver new resources that will add to the mine life at Mt Carlton.

Total drilling of 21,485m (resource definition) and 71,164m (discovery) was completed during the quarter. Evolution’s exploration tenement holding interests in Australia and Canada now stands at 7,674 km[2] .

Red Lake, Ontario (100%)

Underground diamond drilling campaigns continued at Cochenour and Red Lake. A total of 79 diamond drill holes (17,585m) were drilled utilising six drill rigs.

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Figure 1: Plan view showing map of the Red Lake Operations – Red Lake and Cochenour

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EXPLORATION

Cochenour

Cochenour Resource Definition

Two diamond rigs were operating at Cochenour during the September quarter. Thirty-five drill holes totalling 6,078m were drilled. Infill drilling continued to return results that increase confidence in grade continuity and enable resource classification upgrades in future mining areas. Significant intercepts from two separate drilling positions are detailed below.

  • 5.92m (5.56m etw) grading 4.17g/t Au from 89.7m (C37229) - Banded Iron Formation (BIF) infill

  • ▪ 3.35m (1.67m etw) grading 296.64g/t Au from 135.9m (C37230) - BIF infill

  • 4.53m (4.31m etw) grading 12.10g/t Au from 71.7m (C44194) - BIF/UMZ (Upper Main Zone) infill

  • ▪ 11.04m (8.46m etw) grading 11.43g/t Au from 131.0m (C44197) - BIF/UMZ infill ▪ 3.65m (3.36m etw) grading 8.24g/t Au from 175.8m (C44201) - BIF/UMZ infill

Drilling from a third position underground has delivered incremental resource extensions in the UMZ. The results shown below will be incorporated in Evolution’s annual Mineral Resource and Ore Reserve statement which will be released in February 2021.

  • 4.51m (3.91m etw) grading 8.60g/t Au from 152.0m (C53867) - UMZ (extensional)

  • 4.35m (3.77m etw) grading 8.07g/t Au from 147.3m (C53868) - UMZ (extensional)

  • 6.20m (3.99m etw) grading 23.99g/t Au from 111.5m (C53869) - UMZ (extensional)

Cochenour Discovery

Six long step-out holes (totalling 3,238m) were aimed at new discovery targets along strike of Cochenour. Best results returned to date are shown below and justify the next phase of work which is currently being planned.

  • Thor 1.27m true width grading 11.72g/t Au from 265.75m (C39862)

  • ▪ Voss 0.31m true width grading 627.75g/t Au from 273.95m (C44188)

Red Lake

Red Lake Resource Definition

Thirty drill holes, totalling 6,432m, were drilled into the Twin Otter Zone. The drilling delivered improved geological confidence and confirmed grade continuity that will allow resources to be upgraded from Inferred to Indicated resource category. A portion of the drilling was designed to test if mineralisation extended east of resource shapes. Highlights of the best intercepts are reported below.

  • 12.50m (8.84m etw) grading 9.96g/t from 251.5m (44L941)

  • 4.30m (4.15m etw) grading 26.82g/t from 141.8m (44L942)

  • 2.00m (1.46m etw) grading 52.86g/t from 72.5m (46L471)

Cowal, New South Wales (100%)

Resource definition drilling continued at GRE46 with 12 surface diamond holes (5,046m), and 57 underground diamond holes (11,346m) being completed. Work progressed on updating the resource model for the Feasibility Study.

Regional discovery completed one surface diamond hole (325m) at the E40 target. Work is progressing with a view to resuming regional exploration drilling late in the December quarter.

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EXPLORATION

– Galway Regal E46 (GRE46)

The 2,300m Galway decline which will enable additional drilling to increase the Underground Ore Reserves has received regulatory approval. This second decline will support access for ongoing drilling programs and for future production (see Figure 2 below).

Underground infill drilling continued to convert Inferred Mineral Resources to the Indicated category. Significant intercepts included:

  • 34m (23.8m etw) grading 5.5g/t from 529m (GRUD0186)

Underground drilling has concluded from the eastern drill platforms that were targeting the upgrade of Inferred Mineral Resources to the Indicated category in the northern lava (Regal) and the Dalwhinnie areas.

Surface drilling to extend and infill the Mineral Resource down plunge of Regal and Dalwhinnie continued. Significant intercepts included:

  • 19m (13.3m etw) grading 15.6g/t from 635m (1535DD544B)

  • 15m (11.25m etw) grading 11.3g/t from 1,532m (1535DD544F)

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Figure 2: Long projection of the GRE46 structure looking west showing the location of drilling completed during the September quarter

Note: Reported intervals provided in this report are downhole widths as true widths are not currently known. An estimated true width (etw) is provided where available

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EXPLORATION

Mungari, Western Australia (100%)

Exploration

A total of 10,083m of drilling was completed during the quarter at the following targets at Mungari (Figure 3).

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Figure 3: Location map of Mungari resource definition and regional projects locations in the September quarter

Picante Trend

Drilling recommenced along the Picante Trend prospect, approximately 1.5km north of the planned Castle Hill open pit. Twenty-seven RC holes (4,292m in total) tested for mineralisation between the high-grade shoots of Picante, Muy Picante and Tommy and for extensions to mineralisation to the north along strike of these highgrade shoots. Drilling intercepted mineralisation on the sheared contact between the tonalite and ultramafic rock types and helped define the mineralisation potential between these high-grade shoots. The significance of these results will be evaluated when the full results are received during the December 2020 quarter.

Boomer South

RC drilling commenced at the Boomer South prospect to test the continuation of the Boomer trend south, along strike. The Boomer South prospect is analogous to the Boomer, Raleigh and Strezlecki gold deposits (within the Kundana mining camp), on a similar structural trend. The Boomer South prospect has had limited exploration history. Results of the program will be reported next quarter.

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EXPLORATION

Mt Carlton - Crush Creek Joint Venture, Queensland (earn-in option to purchase 100%)

Drilling continued at Crush Creek, 30km southeast from Mt Carlton with a focus on understanding and expanding mineralisation at BV7 along with testing the Delta area for new discovery. Encouraging results have been received from BV7 and along strike from Delta at The Kink and Gamma prospects.

Two diamond drill rigs and an RC rig were on site drilling 39 holes for 8,370 metres. Assays are pending for six holes.

BV7

Twenty-two diamond drill holes (4,509m) have now been completed at BV7, of which 11 holes (2,133m) were completed during the quarter (Figure 4). Drilling at BV7 targeted the main mineralised zone, along with hangingwall and foot-wall zones, over 500m of strike. Mineralisation is hosted in epithermal quartz veins and stockwork bodies within a flow banded rhyolite. Results indicate that the best mineralisation is located near surface in a shallowly developed shoot plunging north in the direction of the arrow in Figure 4. Mineralisation remains open down plunge. Best results from BV7 are summarised below:

  • 11.74m (11.1m etw) grading 20.73g/t Au from 51.06m (B720DD00008) o including 0.69m at 334.51g/t Au from 53.56m

  • 18m (13.2m etw) grading 7.73g/t Au from 149m (B720DD00002) o including 2.7m grading 26.91g/t Au from 151m

  • 1m (1m etw) grading 95.33g/t Au from 83.9m (B720DD00011)

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Figure 4: Long section (looking east) along the plane of the main mineralised zones at the BV7 prospect.

Delta Area and Regional Targets

Twenty-eight holes (6,237m) were drilled in the Delta area targeting the northward extension of mineralised structures at The Kink, as well as at regional targets at Gamma and Delta South (Figure 5). Drilling has returned encouraging results at The Kink and Gamma prospects with results pending for Delta South.

During the December quarter, drilling will focus on the high-grade plunge to the north of BV7, as well as follow up drilling at The Kink and Gamma prospects.

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EXPLORATION

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Figure 5: Plan of the Crush Creek area showing the regional targets

Australian Greenfields Exploration

At the Cue Project (EVN earning 75% from Musgrave Minerals Ltd, ASX:MGV) an infill phase two aircore program commenced and completed 89 holes for 12,363m. At the nearby Murchison Joint Venture (EVN earning 80% from Enterprise Metals Limited, ASX:EML), the first phase aircore drilling program was completed with 140 holes for 12,082m drilled in the quarter.

Exploration recommenced at the Drummond Project where RC drilling (4 holes for 654m completed) is targeting the Roo Tail Breccia (EVN earning 80% from Andromeda Metals Limited, ASX:ADN).

Further information on all reported exploration results included in this report is provided in the Drill Hole Information Summary and JORC Code 2012 Table 1 presented in Appendix 1 of this report.

Note: Reported intervals provided in this report are downhole widths as true widths are not currently known. An estimated true width (etw) is provided where available

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EXPLORATION

Competent persons statement

Exploration results

The information in this report that relates to exploration results listed in the table below is based on work compiled by the person whose name appears in the same row, who is employed on a full-time basis by Evolution Mining Limited and is a Member of either the Australasian Institute of Mining and Metallurgy (AusIMM) or the Australian Institute of Geoscientists (AIG). Each person named in the table below has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Each person named in the table consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Activity Competent person
Membership Membership status
Red Lake resource definition and
exploration results		 Dean Fredericksen
AusIMM Member
Cowal resource definition and
exploration results		 James Biggam
AusIMM Member
Mungari resource definition and
exploration results		 Brad Daddow
AIG Member
Crush Creek JV exploration results Daniel Macklin AIG Member

Forward looking statements

This report prepared by Evolution Mining Limited (or “the Company”) include forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.

Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

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CORPORATE INFORMATION

ABN 74 084 669 036

Board of Directors

Executive Chairman

Jake Klein Executive Chairman Lawrie Conway Finance Director and CFO Tommy McKeith Lead Independent Director Jim Askew Non-executive Director Jason Attew Non-executive Director Andrea Hall Non-executive Director Vicky Binns Non-executive Director Peter Smith Non-executive Director

Company Secretary

Evan Elstein

Issued share capital

At 30 September 2020 issued share capital was 1,708,613,240 ordinary shares.

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Conference call

Board authorisation for release

This announcement is authorised for release by Evolution’s Board of Directors.

Investor enquiries

Bryan O’Hara General Manager Investor Relations Evolution Mining Limited Tel: +61 (0) 2 9696 2900

Media enquiries

Michael Vaughan Fivemark Partners Tel: +61 (0) 422 602 720

Internet address

www.evolutionmining.com.au

Registered and principal office

Level 24, 175 Liverpool Street Sydney NSW 2000 Tel: +61 (0)2 9696 2900 Fax: +61 (0)2 9696 2901

Share register

Link Market Services Limited Locked Bag A14 Sydney South NSW 1235 Tel: 1300 554 474 (within Australia) Tel: +61 (0)2 8280 7111 Fax: +61 (0)2 9287 0303 Email: [email protected]

Stock exchange listing

Evolution Mining Limited shares are listed on the Australian Securities Exchange under code EVN.

Jake Klein (Executive Chairman), Lawrie Conway (Finance Director and Chief Financial Officer), Bob Fulker (Chief Operating Officer), Glen Masterman (VP Discovery and Business Development) and Bryan O’Hara (General Manager Investor Relations) will host a conference call to discuss the quarterly results at 10.00am Sydney time on Tuesday 27 October 2020.

Shareholder – live audio stream

A live audio stream of the conference call will be available on Evolution’s website www.evolutionmining.com.au. The audio stream is ‘listen only’. The audio stream will also be uploaded to Evolution’s website shortly after the conclusion of the call and can be accessed at any time.

Analysts and media – conference call details

Conference call details for analysts and media includes Q & A participation. Please dial in five minutes before the conference starts and provide your name and the participant ID number.

Participant ID number: 4766289

Dial-in numbers:

Phone toll: +61 (0) 2 8038 5221 Toll-free: 1800 123 296

Interactive Analyst Centre[TM]

Evolution’s financial, operational, resources and reserves information is available to view via the Interactive Analyst Centre[TM] provided on our website www.evolutionmining.com.au under the Investors tab. This useful interactive platform allows users to chart and export Evolution’s historical results for further analysis.

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APPENDIX 1 – RED LAKE MINERAL RESOURCES STATEMENT AS AT 31 DEC 2019

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Table 1: Red Lake Mineral Resources Statement as at 31 December 2019

Gold Gold Measured Measured Indicated Indicated Inferred Total Resource Total Resource Total Resource
Project Type Cut-
Off
(g/t)		 Tonnes
(kt)
Gold
Grade
(g/t)

Gold
Metal
(koz)

Tonnes
(Mt)		 Gold
Grade
(g/t)		 Gold
Metal
(koz)		 Tonnes
(Mt)		 Gold
Grade
(g/t)		 Gold
Metal
(koz)		 Tonnes
(Mt)		 Gold
Grade
(g/t)		 Gold
Metal
(koz)
Lower
Campbell		 UG 3.3 - - - 2.67 7.43 638 2.33 6.39 478 5.00 6.94 1,116

Upper
Campbell		 UG 3.3 - - - 8.52 10.57 2,896 4.38 10.26 1,444 12.90 10.46 4,339

Lower Red
Lake		 UG 3.3 - - - 7.83 6.09 1,534 4.40 6.11 864 12.23 6.10 2,398
Upper Red
Lake		 UG 3.3 - - - - - - 6.06 6.11 1,192 6.06 6.11 1,192
HG Young UG 3.2 - - - - - - 2.44 5.45 427 2.44 5.45 427
Cochenour UG 3.0 - - - 3.73 5.17 620 5.72 4.79 881 9.45 4.94 1,502
Total 22.76 7.77 5,687 25.33 6.49 5,287 48.08 7.10 10,974

Data is reported to significant figures to reflect appropriate precision and may not sum precisely due to rounding Mineral Resources are reported inclusive of Ore Reserves. UG denotes underground. Red Lake Mineral Resources Competent Person is Dean Fredericksen

This information is extracted from the ASX release entitled “Red Lake 11 Million Ounce JORC Code Mineral Resource” released to the ASX on 13 August 2020 and is available to view at www.evolutionmining.com.au. Evolution confirms that it is not aware of any other new information or data that materially affects other information included in that release and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Drill Hole Information Summary

Red Lake
Hole ID Hole
Type		 Northing
NAD83 (m)		 Easting
NAD83 (m)		 Elevation
(m)		 Hole
Length
(m)
Dip
NAD83		 Azimuth
NAD83		 From
(m)
Interval1
(m)		 ETW
(m)
Au
(g/t)
44L918 DDH 7374027.45 590820.46 -3142.99 291.0 -31.3 19.0 199.0 2.00 1.93 7.64
44L921 DDH 7374027.37 590820.47 -3142.54 450.0 24.6 24.9 393.2 1.53 1.10 13.56
403.6 2.71 2.08 18.83
44L922 DDH 7374027.35 590820.60 -3142.81 306.0 -15.9 29.2 59.4 1.52 1.43 2.51
270.4 1.77 1.66 6.96
44L923 DDH 7374027.32 590820.58 -3142.49 414.0 16.2 31.9 80.0 1.00 0.94 25.80
365.4 0.43 0.40 9.81
367.0 1.52 0.98 3.93
372.7 1.78 1.35 45.00
44L924 DDH 7374027.32 590820.67 -3142.81 301.5 -15.5 40.0 256.0 6.60 5.72 1.12
44L925 DDH 7374027.30 590820.65 -3142.56 390.0 12.2 39.4 311.4 0.28 0.23 49.38
Including 311.4 1.98 1.62 12.64
340.2 0.19 0.15 33.77
44L926 DDH 7374027.29 590820.69 -3142.68 363.0 3.3 43.9 40.7 3.86 3.12 2.14
262.3 0.68 0.52 23.44
320.0 1.85 1.42 5.19
44L933 DDH 7374068.73 590796.34 -3142.53 320.0 23.8 31.6 166.5 3.12 2.21 16.44
270.7 2.75 1.94 6.24
287.4 1.61 1.14 9.12
44L934 DDH 7374068.79 590796.36 -3142.10 240.0 5.3 31.4 167.5 0.39 0.32 58.08
198.1 1.34 1.03 29.78
44L935 DDH 7374068.52 590796.46 -3142.14 385.5 24.4 51.6 306.9 2.40 1.38 4.06
316.1 1.05 0.60 27.10
326.4 11.65 6.68 2.21
343.4 1.85 1.06 5.94
44L937 DDH 7374068.85 590796.16 -3142.25 322.6 19.2 21.7 218.0 1.00 0.64 36.78
258.6 1.52 1.16 7.84
44L938 DDH 7374068.80 590796.23 -3142.18 321.0 22.4 26.3 288.5 4.11 2.36 4.69
44L940 DDH 7374068.77 590796.32 -3142.50 266.0 5.8 33.2 216.5 3.00 2.12 6.90
44L941 DDH 7374068.63 590796.44 -3142.43 273.0 9.4 41.8 225.0 4.40 3.11 7.95
251.5 12.50 8.84 9.96
44L942 DDH 7374068.49 590796.32 -3142.75 207.0 -25.1 42.2 141.8 4.30 4.15 26.82
Including 142.1 0.60 0.58 145.03
158.7 0.50 0.48 9.44
162.4 0.29 0.28 10.21
164.9 0.22 0.21 17.76
168.6 2.17 2.10 4.02
179.0 0.35 0.34 15.07
44L943 DDH 7374068.50 590796.45 -3142.47 262.6 8.4 50.0 196.0 0.72 0.51 34.30
44L944 DDH 7374068.35 590796.36 -3142.69 244.5 -17.7 56.0 163.4 1.59 1.38 21.77
166.4 0.29 0.25 97.93
196.0 2.50 1.92 6.68
229.7 2.13 1.51 12.92
44L945 DDH 7374020.94 590844.08 -3142.55 300.2 -7.9 34.0 219.1 1.35 1.30 17.04
273.5 1.90 1.84 14.34
44L949 DDH 7374020.68 590844.19 -3142.49 323.9 -3.2 51.2 8.0 2.05 1.72 5.83
104.0 3.00 2.54 4.23
299.2 3.30 2.80 10.41
46L463 DDH 7374120.40 590760.97 -3169.76 63.0 -38.0 29.5 33.7 0.30 0.29 12.45
35.2 1.08 1.08 4.00
38.4 2.55 2.54 12.69
Including 39.0 0.50 0.49 56.86
42.3 1.41 1.40 1.81

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA
Hole ID Hole
Type		 Northing
NAD83 (m)		 Easting
NAD83 (m)		 Elevation
(m)		 Hole
Length
(m)
Dip
NAD83		 Azimuth
NAD83		 From
(m)
Interval1
(m)		 ETW
(m)
Au
(g/t)
46L464 DDH 7374120.36 590760.98 -3169.83 63.0 -42.7 48.1 33.8 1.23 1.23 12.10
39.8 0.43 0.43 14.69
46L465 DDH 7374120.35 590761.08 -3169.46 87.0 -0.6 64.5 58.6 1.45 1.03 4.38
62.7 3.70 2.62 3.90
46L466 DDH 7374120.25 590761.03 -3169.94 81.0 -60.6 61.3 43.0 2.48 2.25 6.02
46L467 DDH 7374120.34 590761.05 -3169.53 90.0 -7.9 72.6 47.5 2.28 1.61 12.16
46L468 DDH 7374120.36 590761.04 -3169.73 69.0 -32.2 70.3 39.7 5.48 5.15 8.63
46L469 DDH 7374120.32 590761.10 -3169.47 105.0 -0.5 81.0 31.8 0.35 0.20 12.46
64.8 0.65 0.37 16.37
71.1 4.90 2.81 6.77
78.0 2.35 1.35 16.36
93.7 1.06 0.61 11.00
46L470 DDH 7374120.29 590761.14 -3169.47 126.0 -0.2 88.0 82.0 7.72 3.86 6.45
46L471 DDH 7374120.27 590761.11 -3169.69 102.0 -23.2 90.1 55.3 2.99 2.00 9.37
59.9 6.28 4.59 6.19
72.5 2.00 1.46 52.86
Including 72.5 0.50 0.37 189.99
46L472 DDH 7374120.15 590761.15 -3169.95 100.0 -47.5 103.1 87.7 0.90 0.69 10.01
C37229 DDH 7375051.63 589037.97 -2889.44 145.5 22.4 259.0 80.7 0.21 0.17 3.81
84.1 1.74 1.51 3.26
88.1 0.55 0.48 3.21
89.7 5.92 5.56 4.18
Including 94.5 0.46 0.43 20.77
C37230 DDH 7375051.86 589038.06 -2888.97 237.0 43.3 305.9 135.9 3.35 1.67 296.64
Including 137.4 0.43 0.22 2283.45
C37231 DDH 7375051.87 589038.04 -2889.16 228.0 33.1 307.1 18.7 1.11 0.71 3.83
20.7 0.90 0.58 21.07
68.1 0.54 0.49 3.76
127.0 5.00 3.83 2.45
219.8 0.47 0.41 5.04
C37232 DDH 7375051.90 589038.01 -2889.39 226.6 23.1 307.1 18.2 0.91 0.79 6.39
20.8 0.25 0.22 64.65
31.0 1.94 1.68 6.12
53.8 1.40 1.21 12.10
116.3 0.34 0.29 3.27
119.0 1.00 0.57 5.16
218.3 1.68 0.94 3.19
C37233 DDH 7375051.91 589038.02 -2889.66 232.5 11.8 308.0 30.7 1.28 1.11 3.47
46.1 0.74 0.64 4.86
50.8 0.91 0.52 3.35
154.2 0.98 0.63 4.78
C37234 DDH 7375051.89 589038.04 -2889.86 229.6 2.0 308.9 36.0 0.90 0.69 3.15
40.0 1.35 1.03 3.33
60.4 0.82 0.74 3.10
100.2 0.95 0.76 9.92
114.5 0.66 0.54 89.65
151.4 0.65 0.36 3.08
C37235 DDH 7375051.89 589038.04 -2889.98 235.6 -10.5 307.9 39.6 1.63 1.53 7.28
56.8 3.00 2.46 88.04
57.5 0.16 0.13 1592.31
133.1 0.50 0.25 12.52
171.0 1.84 1.41 4.69
C39862 DDH 7375054.78 589168.17 -2898.61 588.0 20.8 209.1 207.6 0.24 0.23 11.16
265.8 1.80 1.27 11.72
388.5 1.50 1.26 2.03
C44191 DDH 7374999.85 588986.19 -2964.99 87.4 15.3 252.3 47.2 0.92 0.70 3.07
57.1 0.64 0.42 3.64
64.8 0.76 0.60 4.11

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA
Hole ID Hole
Type		 Northing
NAD83 (m)		 Easting
NAD83 (m)		 Elevation
(m)		 Hole
Length
(m)
Dip
NAD83		 Azimuth
NAD83		 From
(m)
Interval1
(m)		 ETW
(m)
Au
(g/t)
C44192 DDH 7374999.92 588986.16 -2965.17 96.2 -0.7 252.3 0.8 0.31 0.25 6.48
14.7 0.24 0.18 39.71
52.0 0.46 0.35 3.99
75.4 3.81 2.45 4.09
C44193 DDH 7374999.76 588986.12 -2964.50 87.0 35.1 246.1 16.8 0.77 0.71 3.06
22.6 0.99 0.83 15.11
42.1 5.11 4.19 1.98
60.2 0.18 0.00 5.43
64.1 3.87 3.64 4.11
C44194 DDH 7374999.66 588986.21 -2964.99 90.0 7.3 247.1 13.9 0.32 0.28 6.24
24.5 0.50 0.43 2.22
33.9 0.53 0.50 13.60
51.3 2.60 2.25 1.11
54.7 0.55 0.48 2.16
59.4 0.63 0.31 1.12
71.8 4.53 4.31 12.10
C44196 DDH 7374999.73 588986.18 -2965.23 129.0 -15.1 240.8 21.2 3.90 3.19 18.17
28.0 1.19 1.03 4.86
51.0 2.67 2.36 2.55
104.9 3.15 2.73 3.45
C44197 DDH 7375033.71 589007.17 -2964.42 180.0 -1.5 255.1 6.0 5.05 4.75 26.09
Including 6.2 0.20 0.19 388.27
Including 9.1 0.15 0.14 295.40
12.6 1.68 1.56 2.72
74.5 1.53 1.44 8.90
Including 75.0 0.61 0.57 16.65
131.1 11.04 8.46 11.43
Including 132.4 1.02 0.92 42.24
Including 136.4 0.15 0.14 35.23
Including 140.2 0.15 0.14 162.06
144.5 0.30 0.23 25.73
146.6 0.60 0.56 231.19
C44198 DDH 7375033.74 589007.20 -2964.55 249.0 -17.1 258.8 5.0 3.60 2.76 2.38
57.5 0.90 0.69 3.16
84.0 2.00 1.73 9.45
Including 85.2 0.25 0.22 65.54
93.0 2.50 1.92 40.74
Including 93.9 0.30 0.23 243.97
101.0 3.00 2.30 3.20
147.7 0.60 0.46 23.85
155.5 2.88 2.21 8.16
Including 156.2 0.60 0.46 33.39
182.2 2.25 1.51 6.78
Including 183.0 0.15 0.10 71.66
193.9 4.65 4.25 3.48
C44199 DDH 7375033.96 589007.18 -2964.49 186.0 -5.9 262.4 9.6 0.50 0.43 28.02
Including 9.6 1.89 1.64 8.72
33.4 0.38 0.33 19.94
77.0 1.48 1.28 22.66
Including 77.0 0.32 0.28 95.05
116.1 1.36 1.18 2.08
124.4 1.05 0.89 3.52
148.1 2.02 1.55 4.25
163.7 1.40 1.32 3.00
C44200 DDH 7375033.82 589007.15 -2964.34 166.6 8.9 264.6 16.3 0.15 0.13 18.24
71.6 4.47 3.42 25.18
Including 73.0 0.15 0.08 504.15
92.1 0.32 0.31 5.68

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA
Hole ID Hole
Type		 Northing
NAD83 (m)		 Easting
NAD83 (m)		 Elevation
(m)		 Hole
Length
(m)
Dip
NAD83		 Azimuth
NAD83		 From
(m)
Interval1
(m)		 ETW
(m)
Au
(g/t)
119.1 3.12 2.83 4.67
142.2 1.20 0.99 6.32
C44201 DDH 7375033.85 589007.21 -2964.66 204.0 -12.4 263.1 4.7 0.89 0.77 9.07
19.6 2.00 1.90 28.92
Including 19.6 0.45 0.43 112.89
26.4 0.15 0.12 10.53
32.5 0.55 0.48 16.98
159.0 2.40 1.84 7.71
162.2 3.69 3.02 4.92
Including 165.6 0.20 0.16 51.17
175.8 3.65 3.36 8.24
C44202 DDH 7375033.86 589007.14 -2964.17 154.6 15.9 267.2 6.1 2.03 1.76 1.68
14.8 3.23 3.04 4.75
23.3 0.20 0.19 22.84
30.3 0.70 0.70 4.41
112.2 3.17 2.75 8.32
117.4 4.10 3.55 2.82
C44203 DDH 7375033.96 589007.16 -2964.51 213.0 -14.0 266.3 12.0 0.40 0.36 3.23
18.0 2.46 1.88 212.62
Including 19.8 0.22 0.17 2340.89
28.8 1.20 1.13 1.86
31.9 0.96 0.83 3.99
50.0 0.50 0.43 7.03
58.7 0.21 0.18 6.63
81.6 1.42 1.09 4.60
128.0 0.30 0.28 2.08
129.0 0.40 0.38 18.79
146.0 0.44 0.34 17.50
165.0 5.28 4.57 9.41
183.0 2.03 1.66 28.29
Including 183.3 0.55 0.45 93.87
C44204 DDH 7375034.05 589007.17 -2964.43 184.1 -5.0 272.6 6.0 0.55 0.48 8.72
15.1 0.75 0.65 6.18
17.9 1.39 1.21 4.68
32.7 0.44 0.38 9.32
36.4 0.70 0.49 2.94
62.8 1.26 0.89 23.65
Including 62.8 0.20 0.14 100.23
78.5 4.51 3.91 4.12
86.8 0.75 0.65 15.17
89.6 2.58 1.89 3.91
106.0 3.00 2.30 10.72
146.0 4.81 4.17 4.43
163.5 1.73 1.50 1.96
168.0 1.35 1.17 7.42
C44205 DDH 7375033.99 589007.16 -2964.63 271.1 -18.2 270.9 17.6 4.76 4.12 44.06
Including 22.0 0.37 0.32 537.45
65.9 0.27 0.23 11.59
87.6 2.87 2.35 2.55
102.8 1.25 1.13 5.20
192.9 0.66 0.42 8.13
214.8 0.90 0.58 23.39
C44207 DDH 7375000.13 588986.28 -2965.31 156.1 -25.7 278.4 24.1 1.20 1.13 10.77
123.0 0.75 0.28 4.91
C44208 DDH 7375000.13 588986.29 -2965.30 130.8 -22.1 271.8 13.2 0.20 0.19 4.21
23.1 1.77 1.53 2.77
76.8 0.39 0.30 15.18
111.9 0.85 0.65 1.67

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA
Hole ID Hole
Type		 Northing
NAD83 (m)		 Easting
NAD83 (m)		 Elevation
(m)		 Hole
Length
(m)
Dip
NAD83		 Azimuth
NAD83		 From
(m)
Interval1
(m)		 ETW
(m)
Au
(g/t)
C44210 DDH 7375000.12 588986.29 -2965.33 180.0 -32.4 268.1 8.0 0.50 0.43 12.26
21.8 1.60 1.39 1.83
29.7 1.90 1.22 12.60
32.5 1.40 0.90 3.64
143.1 1.60 1.23 7.61
Including 143.1 0.30 0.23 24.51
C53867 DDH 7374946.90 588890.06 -3042.15 200.5 -63.1 67.9 122.3 1.25 0.96 2.34
131.1 1.09 0.83 5.38
139.2 0.58 0.44 3.04
142.2 1.78 1.36 3.55
152.0 4.51 3.91 8.61
Including 155.8 0.34 0.29 37.15
163.6 0.57 0.49 12.30
C53868 DDH 7374946.75 588890.09 -3042.22 171.0 -66.4 96.1 122.5 0.40 0.26 3.99
129.3 1.60 1.13 11.85
132.3 2.41 1.85 2.97
Including 134.0 0.40 0.31 11.52
147.3 4.35 3.77 8.08
Including 147.9 0.36 0.31 34.32
Including 149.1 0.30 0.26 25.32
164.5 0.75 0.70 48.79
C53869 DDH 7374923.41 588887.74 -3041.77 159.0 -56.0 90.2 111.5 6.20 3.99 24.00
Including 114.9 0.21 0.13 165.68
C53870 DDH 7374923.26 588887.74 -3041.68 160.7 -34.9 106.9 106.1 1.38 1.06 5.82
Including 106.4 0.16 0.12 31.42

Cowal

Hole ID Hole
Type		 Northing
MGA (m)		 Easting
MGA (m)		 Elevation
AHD (m)		 Hole
Length
(m)		 Dip
MGA		 Azi
MGA		 From
(m)		 Interval1
(m)		 ETW
(m)		 Au(g/t) Au(g/t)
1535DD544B DD 6,278,183 538,565 208.78 885.3 -57 309 484 2 1.4 11.47
635 19 13.3 15.62
1535DD544D DD 6,278,183 538,565 208.78 924.38 -57 309 691 9 5.85 3.45
1535DD544F DD 6,278,183 538,565 208.78 1647.64 -57 312 709 7 5.25 2.52
786 6 4.5 3.01
796 5 3.75 3.63
838 13 9.75 4.66
1217 1 0.75 16.3
1329 15 11.25 2.6
1375 8 6 2.7
1532 15 11.25 11.27
1585 5 3.75 6.36
1535DD544G DD 6,278,183 538,565 208.78 1482.2 -57 309 1199 4 3 4.73
1535DD544H DD 6,278,183 538,565 208.78 1641.62 -57 309 712 24 16.8 3.59
794 5 3.5 3.78
854 8 5.6 3.37
1535DD544I DD 6,278,183 538,565 208.78 915.27 -57 309 759 7 4.9 19.12
789 7 4.9 10.43
1535DD572 DD 6,277,971 538,477 204.07 626.1 -55 302 507 23 16.1 5.36
1535DD576 DD 6,277,984 538,469 204 723.32 -57 314 596 5 3.5 7.87
614 74 51.8 3.15
E40DD4022 DD 6275539 538381 204 429.47 -65 325 83 40 0.82
includes 83 14 1.27
E40DD4023 DD 6275921 538516 204 333.78 -65 320 226 15.15 0.81
GRUD0098 DD 6,278,259 538,444 62.53 638.4 -54 285.5 55.87 1.13 0.73 26.2
GRUD0163 DD 6,278,753 538,391 -9 512.64 -48.5 293 3.8 9.2 6.44 13.5

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Hole ID Hole
Type		 Northing
MGA (m)		 Easting
MGA (m)		 Elevation
AHD (m)		 Hole
Length
(m)		 Dip
MGA		 Azi
MGA		 From
(m)		 Interval1
(m)		 ETW
(m)		 Au(g/t)
GRUD0164 DD 6,278,751 538,314 -11 407.55 -42 313 266 15 9.75 3.97
GRUD0165 DD 6,278,753 538,391 -9 956.45 -51.5 306 34 2 1.3 7.94
246 5 3.25 6.4
325 10 6.5 3.06
344 3 1.95 6.11
671 39 25.35 4.67
813 4 2.6 12.88
932 3 1.95 6.2
GRUD0166 DD 6,278,805 538,393 -7 861 -41.5 318 660 5 4 5.13
676 12 9.6 3.44
703 5 4 2.62
GRUD0167 DD 6,278,259 538,444 62 701.81 -53 306 388 6 3.9 2.66
458 10 6.5 3.61
503 8 5.2 4.58
537 5 3.25 4.18
555 27 17.55 4.48
675 6 3.9 5
GRUD0168 DD 6,278,753 538,391 -9 446.51 -50 286 307 5 3.25 3.26
GRUD0169 DD 6,278,805 538,393 -7 632.76 -14 324 293 6 4.2 4.05
378 21 15.75 3.88
472 9 6.75 9.68
GRUD0170 DD 6,278,259 538,444 62 653.43 -47.5 317.5 480 4 2.4 50.53
515 1 0.6 18.65
644 1 0.6 26
GRUD0170A DD 6,278,259 538,444 62 509.6 -47.5 317.5 450 6 4.2 3.78
475 2 1.4 28.71
GRUD0171 DD 6,278,753 538,391 -9 758.53 -48.5 305 217 1 0.7 197
326 13 9.1 5.15
361 8 5.6 4.4
473 11 7.7 2.97
524 6 4.2 5.53
547 6 4.2 2.78
GRUD0172 DD 6,278,805 538,393 -7 455 -10 316 228 1 0.9 51.6
417 5 4.5 10.35
429 4 3.6 3.44
GRUD0174 DD 6,278,805 538,393 -7 648.07 -40 328 205 7 4.9 6.17
239.15 1.85 1.29 19.02
249 3 2.1 10.93
GRUD0175 DD 6,278,747 538,393 -8.23 516.36 -54 292 4.75 5.25 3.67 3.39
GRUD0176 DD 6,278,318 538,447 63 266.7 -21.5 309 224 7 5.25 16.97
GRUD0177 DD 6,278,318 538,447 63 239.81 -21 303 155 7 4.9 7.28
188 3 2.1 7.49
GRUD0178 DD 6,278,805 538,393 -7 669.34 -38 325 211.77 3.23 2.26 33.09
248 6 4.2 2.57
GRUD0179 DD 6,278,318 538,447 63 530.57 -43 307 476 1 0.7 19.2
GRUD0183 DD 6,278,318 538,447 63 635.41 -38.5 317.5 402 1 0.7 16
446 6 4.2 3.01
487 29 20.3 4.54
551 3 2.1 5.6
GRUD0186 DD 6,278,806 538,394 -7.61 755.2 -48 308 328 1 0.7 49
410 16.64 11.64 3.29
463 2.13 1.49 15.05
529 34 23.8 5.48
606 17 11.9 3.41
649 8 5.6 2.53
GRUD0187 DD 6,278,806 538,393 -6.32 233.27 -43 292 66 4 3.2 3.18
GRUD0189 DD 6,278,318 538,447 63.47 662.83 -32.5 316.5 350 4 2.6 9.49
404 1 1 10.3
433 3 1.95 15.18
450.13 4.87 3.16 4.35
498 11 7.15 2.84
565 4 2.6 3.89

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Hole ID Hole
Type		 Northing
MGA (m)		 Easting
MGA (m)		 Elevation
AHD (m)		 Hole
Length
(m)		 Dip
MGA		 Azi
MGA		 From
(m)		 Interval1
(m)		 ETW
(m)		 Au(g/t)
GRUD0193 DD 6,278,775 538,178 -6.85 85.13 33 128.5 40 11 8.8 6.9
GRUD0194 DD 6,278,775 538,178 -6.53 85.23 40.5 128.5 43 9 6.3 6.73
GRUD0195 DD 6,278,318 538,447 63.59 598.98 -31 313.5 329 9 6.3 35.14
361 5 3.5 8.46
400 4 2.8 3.65
437 2 1.4 15.02
GRUD0196 DD 6,278,775 538,178 -8.4 65.24 18 136 15 1 0.8 13.5
32 9 7.2 6.8
GRUD0197 DD 6,278,774 538,178 -7.52 76.77 28.5 136 3 2 1.6 9.56
35 12 9.6 10.52
GRUD0198 DD 6,278,775 538,177 -6.75 83.93 38 136 36 16 12 6.94
74 7 5.25 6.13
GRUD0201 DD 6,278,774 538,177 -8.34 119.96 19 148 33 5 4.25 5.43
60 4 3.4 3.64
70 14 11.9 7.58
112 5 4.25 3.88
GRUD0202 DD 6,278,775 538,177 -7.59 116.45 32 148 34 14 11.2 3.88
74 3 2.4 8.52
86.7 10.3 8.24 7.24
GRUD0203 DD 6,278,775 538,177 -6.75 85.03 42 148 34 16 12.8 4.04
78 1 0.8 17.6
GRUD0204 DD 6,278,775 538,177 -6.31 98.8 49 148 40 8 5.6 8.51
GRUD0208 DD 6,278,775 538,176 -8.4 56.31 21 162 32.73 17.27 13.81 6.01
GRUD0209 DD 6,278,775 538,176 -7.6 74.94 35 162 33 5 4 21.38
GRUD0210 DD 6,278,775 538,176 -6.97 84.52 45 162 37 5 3.75 6.5
GRUD0211 DD 6,278,775 538,176 -6.15 92.9 52 162 43 5 3.5 4.2
GRUD0212 DD 6,278,724 538,235 -10.63 197.96 -20 314 115 10 7 5.88
GRUD0216 DD 6,278,775 538,175 -7.48 75 36 180 37 10 8 6.58
GRUD0217 DD 6,278,775 538,175 -6.97 84.9 46 180 41 7.13 5.34 9.86
GRUD0218 DD 6,278,775 538,175 -6.38 99.12 53 180 48 5 3.5 3.4

Note: Drillholes with the prefix GRUD denote that they are underground drill holes

  1. Reported intervals provided in this report are downhole widths as true widths are not currently known. An estimated true width (etw) is provided where available

Mungari

Hole ID Hole
Type		 Northing
MGA (m)		 Easting
MGA (m)		 Elevation
AHD (m)		 Hole
Length
(m)		 Dip
MGA		 Azi
MGA		 From
(m)		 Interval1
(m)		 ETW
(m)		 Au
(g/t)
PICC032 RC 6610401 311516 422 120 -61 270 No significant intercept
PICC033 RC 6610394 311582 416 126 -61 266 69.00 6.00 5.70 8.93
PICC033 RC 6610394 311582 416 126 -61 266 78.00 10.00 9.50 1.11
PICC034 RC 6610567 311671 404 182 -60 270 No significant intercept
PICC035 RC 6610612 311636 414 174 -61 270 No significant intercept
PICC036 RC 6610679 311650 419 120 -62 270 No significant intercept
PICC037 RC 6610726 311675 406 198 -61 270 No significant intercept
PICC038 RC 6610800 311630 413 156 -61 270 No significant intercept
PICC039 RC 6610870 311513 415 108 -61 270 No significant intercept
PICC040 RC 6610913 311569 398 120 -62 268 81.00 1.00 1.00 1.76
PICC042 RC 6611123 311468 423 102 -61 270 24.00 1.00 1.00 1.35
PICC042 RC 6611123 311468 423 102 -61 270 33.00 1.00 1.00 1.04
PICC042 RC 6611123 311468 423 102 -61 270 45.00 1.00 1.00 1.10
PICC042 RC 6611123 311468 423 102 -61 270 48.00 1.00 1.00 4.53
PICC042 RC 6611123 311468 423 102 -61 270 64.00 1.00 1.00 1.42
PICC042 RC 6611123 311468 423 102 -61 270 73.00 1.00 1.00 2.85
PICC042 RC 6611123 311468 423 102 -61 270 78.00 1.00 1.00 1.17
PICC042 RC 6611123 311468 423 102 -61 270 90.00 1.00 1.00 1.15

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Hole ID Hole
Type		 Northing
MGA (m)		 Easting
MGA (m)		 Elevation
AHD (m)		 Hole
Length
(m)		 Dip
MGA		 Azi
MGA		 From
(m)		 Interval1
(m)		 ETW
(m)		 Au
(g/t)
PICC043 RC 6611119 311547 421 174 -61 267 140.00 1.00 1.00 1.29
PICC043 RC 6611119 311547 421 174 -61 267 170.00 2.00 2.00 1.36
PICC045 RC 6611191 311357 407 78 -61 270 No significant intercept
PICC046 RC 6611187 311573 421 204 -62 270 No significant intercept
PICC047 RC 6611262 311391 422 144 -61 264 75.00 3.00 3.00 1.20
PICC048 RC 6611261 311576 420 138 -60 270 No significant intercept
PICC049 RC 6611354 311365 423 138 -61 270 No significant intercept

Crush Creek JV

Hole ID Hole
Type		 Northing
MGA (m)		 Easting
MGA (m)		 Elevation
AHD (m)		 Hole
Length
(m)		 Dip
MGA		 Azi
MGA		 From
(m)		 Interval1
(m)		 ETW Au
(g/t)		 Au
(g/t)
(m)
B120RC00002 RC 7734349 585462 220 210 -59.7 250.25 92 12 11.5 2.17
including 93 1 0.96 9.2
B120RC00002 RC 7734349 585462 220 210 -59.7 250.25 142 10 9.6 1.62
including 145 1 0.96 10.2
DE20DD00010_A DD 7738359 584511 333 110.5 -49.93 245.86 56 8 8 0.97
DE20DD00013 DD 7738391 584414 312 189.6 -49.86 39.7 105 15.44 3.7 0.71
DE20DD00013 DD 7738391 584414 312 189.6 -49.86 39.7 170 3.37 3.1 2.07
DE20DD00014 DD 7738343 584379 305 249.6 -59.99 64.84 162 1.23 1 19.87
including 162 0.35 0.28 55.5
DE20DD00015 DD 7738329 584598 327 160.8 -49.8 245.24 97.6 6.4 6.4 1.12
DE20DD00024 DD 7738322 584505 334 111.6 -54.95 219.97 37.1 0.9 0.73 6.95
including 37.1 0.43 0.35 11.6
DE20DD00026 DD 7738285 584495 332 81.2 -50.31 265 40 7 6.5 2.64
including 42.4 0.6 0.56 8.34
DE20DD00043 DD 7738692 584172 288 376.7 -20.44 19.96 129 1 0.72 6.17
DE20RC00034 RC 7738499 584388 298 228 -65 0 64 5 4.2 1.34
DE20RC00035 RC 7738430 584531 328 130 -50 80 106 6 6 1.02
DE20RC00038 RC 7738524 584436 301 160 -49.55 44.46 70 6 6 1.3
DE20RC00042 RC 7738521 584434 301 180 -55 350 93 5 4.8 1.68
GA20RC00002 RC 7738194 583992 334 222 -54.92 246.71 112 3 2.7 3.24
GA20RC00002 RC 7738194 583992 334 222 -54.92 246.71 142 7 6.4 3.04
including 143 2 1.83 8.06
B720DD00001_A DD 7739140 584469 398 282.4 -49.9 359.54 127.4 2.6 2.1 7.44
including 128.4 0.5 32.5
B720DD00001_A DD 7739140 584469 398 282.4 -49.9 359.54 106.5 3.55 2.9 3.95
including 109.65 0.4 30.3
B720DD00001_A DD 7739140 584469 398 282.4 -49.9 359.54 187 5 4.1 3.32
including 191 1 12.8
B720DD00001_A DD 7739140 584469 398 282.4 -49.9 359.54 142 9 7.4 2.38
including 144 0.6 19.25
B720DD00001_A DD 7739140 584469 398 282.4 -49.9 359.54 157 5 4.1 1.88
B720DD00002 DD 7739136 584481 398 201.2 -45.68 349.26 149 18 13.2 7.73
DD including 151 2.7 26.91
DD And 158 1 31.6
DD And 163.5 0.5 25.2
B720DD00002 DD 7739136 584481.4 398 201.2 -45.68 349.26 133.5 3.5 2.6 1.79
B720DD00002 DD 7739136 584481 398 201.2 -45.68 349.26 104 12 8.8 1.3
DD including 108.9 0.4 23.7
B720DD00003 DD 7739136 584481.4 398 234.3 -59.88 339.26 61.66 0.44 0.3 16
B720DD00003 DD 7739136 584481.4 398 234.3 -59.88 339.26 206 1 0.7 5.96
B720DD00003 DD 7739136 584481 398 234.3 -59.88 339.26 133 16 11.7 2.24
DD including 133.6 0.4 16
B720DD00004 DD 7739136 584481.4 398 174.5 -61.69 20.64 127.2 1.3 1.2 6.7
DD including 127.8 0.7 9.93
B720DD00004 DD 7739136 584481.4 398 174.5 -61.69 20.64 35 2.7 2.5 2.31
B720DD00004 DD 7739136 584481.4 398 174.5 -61.69 20.64 40.9 4.2 4 1.94
B720DD00004 DD 7739136 584481.4 398 174.5 -61.69 20.64 109 6 5.6 0.93
B720DD00008 DD 7739228 584382 322 144.7 -54.99 74.88 51.06 11.74 11.1 20.73
DD including 53.56 0.69 334.51

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Hole ID Hole
Type		 Northing
MGA (m)		 Easting
MGA (m)		 Elevation
AHD (m)		 Hole
Length
(m)		 Dip
MGA		 Azi
MGA		 From
(m)		 Interval1
(m)		 ETW Au
(g/t)
(m)
B720DD00008 DD 7739228 584381.9 322 144.7 -54.99 74.88 41.9 1.1 1 4.63
B720DD00008 DD 7739228 584381.9 322 144.7 -54.99 74.88 45.14 3.26 3.1 1.82
B720DD00009 DD 7739196 584322 311 210.1 -55.14 47.2 111 16 14.9 2.32
DD including 117 0.7 13.4
B720DD00011 DD 7739099 584545 402 177.5 -49.81 43.22 83.9 1 1 95.33
DD including 83.9 0.4 235
B720DD00011 DD 7739099 584545 402 177.5 -49.81 43.22 51 3 2.9 3.14
B720DD00015 DD 7739135 584480 399 177.4 -59.5 43.98 81 1.5 1.5 6.83
DD including 82 0.5 9.58
B720DD00015 DD 7739135 584479.9 399 177.4 -59.5 43.98 43 4 4 1.46
B720DD00023 DD 7739219 584362 322 180.325 -45.36 31.55 82.1 1.4 1.3 11.19
DD including 82.1 0.63 16.45
B720DD00026 DD 7739108 584276 304 236 -32.17 44.66 174.6 4.4 3.8 6.76
DD including 174.6 0.57 10.15
DD including 176 0.5 8.68
DD including 177 1 14.75
B720DD00031 DD 7739135 584520.8 402 180.6 -79.27 44.12 79 0.53 0.5 9.55
B720DD00031 DD 7739135 584521 402 180.6 -79.27 44.12 112 14 13.1 1.45
B720DD00033 DD 7738863 584607 334 278.5 -30 270 188 8.3 2.5 1.55
including 195.6 0.7 10.89

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake

Red Lake Section 1 Sampling Techniques and Data

Red Lake Operations Section 1 Sampling Techniques and Data Red Lake Operations Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
Sampling techniques •Nature and quality of sampling (e.g.
cut channels,
random chips,
or
specific specialised industry standard
measurement tools appropriate to the
minerals under investigation, such as
downhole gamma sondes, handheld
XRF
instruments,
etc).
These
examples should not be taken as
limiting
the
broad
meaning
of
sampling.
•Include reference to measures taken
to ensure sample representation and
the appropriate calibration of any
measurement tools or systems used.
•Aspects of the determination of
mineralisation that are material to the
Public Report.
•In cases where ‘industry standard’
work has been completed this would
be relatively simple (e.g. ‘reverse
circulation drilling was used to obtain 1
m samples from which 3 kg was
pulverised to produce a 30 g charge
for fire assay’). In other cases, more
explanation may be required, such as
where there is coarse gold that has
inherent
sampling
problems,
or
unusual
commodities/mineralisation
types (e.g. submarine nodules).		 •
Sampling of gold mineralisation at Red Lake Operation was
undertaken using diamond core (surface and underground).
•
All drill samples were logged prior to sampling. Diamond drill
core was sampled to lithological, alteration and mineralisation
related contacts. Sampling was carried out according to Red
Lake Operations protocols and QAQC procedures which
comply with industry best practice. All drill-hole collars were
surveyed using a total station theodolite or total GPS.
•
The sampling and assaying methods are appropriate for the
orogenic mineralised system and are representative for the
mineralisation style. The sampling and assaying suitability was
validated using Red Lake Operations QAQC protocol and no
instruments or tools requiring calibration were used as part of
the sampling process.
•
Diamond drill core sample intervals were based on geology to
ensure a representative sample, with lengths ranging from 0.15
to 1m. Diamond drilling was half core sampled. All diamond
core samples were dried, crushed and pulverised (total
preparation) to produce a 50g charge for fire assay of Au. A
suite of multi elements are determined using four-acid digest
with ICP/MS and/or an ICP/AES finish for some sample
intervals.
Drilling techniques •
Drill
type
(e.g.
core,
reverse
circulation, open-hole hammer, rotary
air blast, auger, Bangka, sonic, etc.)
and details (e.g. core diameter, triple or
standard tube, depth of diamond tails,
face-sampling bit or other type, whether
core is oriented and if so, by what
method, etc.).		 •
Drilling on site is conducted using diamond drill rigs, the core is
extracted using a standard tube and core diameter is NQ2
(50.6mm) in size,
•
All exploration drill core is orientated using the Tru-Core device.
Drill sample recovery •Method of recording and assessing
core and chip sample recoveries and
results assessed.
•Measures taken to maximise sample
recovery and ensure representative
nature of the samples.
•
Whether
a
relationship
exists
between sample recovery and grade
and whether sample bias may have
occurred due to preferential loss/gain of
fine/coarse material.		 •
Percentage of drill core recovery is not recorded at this time on
site. All core is oriented and marked up at 1-metre intervals,
intervals are compared to drillers depth.

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 1 Sampling Techniques and Data Red Lake Operations Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
Logging •Whether core and chip samples have
been geologically and geotechnically
logged to a level of detail to support
appropriate
Mineral
Resource
estimation,
mining
studies
and
metallurgical studies.
•Whether logging is qualitative or
quantitative in nature. Core (or costean,
channel etc.) photography.
The total length and percentage of the
relevant intersections logged.		 •
All logging is both qualitative and quantitative in nature
recording
features
such
as
structural
data,
lithology,
mineralogy, alteration, mineralisation types, vein density, colour
etc. All holes are photographed wet.
•
All diamond holes were logged in entirely from collar to end of
hole.
•
All drill core once logged is digitally photographed. The
photographs capture all data presented on the core.
Sub-sampling
techniques and
sample preparation		 •If core, whether cut or sawn and
whether quarter, half or all core taken.
•If non-core, whether riffled, tube
sampled, rotary split, etc and whether
sampled wet or dry.
•For all sample types, the nature,
quality and appropriateness of the
sample preparation technique.
•Quality control procedures adopted
for all sub-sampling stages to maximise
representivity of samples.
•Measures taken to ensure that the
sampling is representative of the in-situ
material
collected,
including
for
instance
results
for
field
duplicate/second-half sampling.
•
Whether
sample
sizes
are
appropriate to the grain size of the
material being sampled.		 •
Diamond core drilled was half core sampled and the remaining
half was retained.
•
Core is cut to preserve the bottom of hole orientation line, in
some instance core may be quarter cut and send for analysis.
•
Sample preparation of diamond samples was undertaken by
external laboratories according to the sample preparation and
assaying protocol established to maximise the representation of
the
Red
Lake
Operations
mineralisation.
Laboratories
performance was monitored as part of Red Lake Operations
QAQC procedure. Laboratory inspections were undertaken to
monitor the laboratories compliance to the Red Lake Operations
sampling and sample preparation protocol.
•
The sample and size (1.5kg to 4kg) relative to the particle size
(>90% passing 75um) of the material sampled is a commonly
utilised practice for effective sample representation for gold
deposits within the Orogenic Gold deposits of the Superior
Craton Canada.
•
Quality control procedures adopted to maximise sample
representation for all sub-sampling stages include the collection
of field and laboratory duplicates and the insertion of certified
reference material as assay standards (1 in 20) and the
insertion of blank samples (1 in 20) or at the geologist’s
discretion. Coarse blank material is routinely submitted for
assay and is inserted into each mineralised zone where
possible and always after a sample identified as having visible
gold. The quality control performance was monitored as part of
Red Lake Operations QAQC procedure.
•
The sample preparation has been conducted by commercial
laboratories. All samples are oven dried (60°C), jaw crushed to
90% passing <2mm and riffle split to a maximum sample weight
of 1kg as required. The primary sample is then pulverised in a
one stage process, using a LM2 pulveriser, to a particle size of
>90% passing 75um. Approximately 250g of the primary sample
is extracted by spatula to a numbered paper pulp bag that is
used for a 50g fire assay charge. The pulp is retained, and the
bulk residue is disposed of after four months.
•
Measures taken to ensure sample representation include the
collection of field duplicates during diamond core sampling
drilling at the geologist’s discretion and within the ore zone.
Duplicate samples for diamond core are collected during the
sample preparation crushing and pulverisation stage. A
comparison of the duplicate sample vs. the primary sample
assay result was undertaken as part of Red Lake Operations
QAQC protocol. It is considered that all sub-sampling and lab
preparations are consistent with other laboratories in Canada
and are satisfactory for the intended purpose.
•
The sample sizes are considered appropriate and in line with
industry standards.
Quality of assay data
and laboratory tests		 •
The
nature,
quality
and
appropriateness of the assaying and
laboratory
procedures
used
and
whether the technique is considered
partial or total.		 •
The sampling preparation and assaying protocol used at Red
Lake Operations was developed to ensure the quality and
suitability of the assaying and laboratory procedures relative to
the mineralisation types.
•
No geophysical tools or other remote sensing instruments were
utilised for reporting or interpretation of gold mineralisation.
•
Fire assayis designed tomeasure the totalgoldwithina

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 1 Sampling Techniques and Data Red Lake Operations Section 1 Sampling Techniques and Data Red Lake Operations Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
•For geophysical tools, spectrometers,
handheld XRF instruments etc. the
parameters used in determining the
analysis including instrument make and
model, reading times, calibrations
factors applied and their derivation, etc.
•Nature of quality control procedures
adopted
(eg
standards,
blanks,
duplicates, external laboratory checks)
and whether acceptable levels of
accuracy (i.e. lack of bias) and
precision have been established.		 sample. Fire assay has been confirmed as a suitable technique
for orogenic type mineralisation. It has been extensively used
throughout the North Western Ontario region. Screen fire assay
have also been used to validate the fire assay techniques.
•
Quality control samples were routinely inserted into the
sampling sequence and also inserted at the discretion of the
geologist either inside or around the expected zones of
mineralisation. The intent of the procedure for reviewing the
performance of certified standard reference material is to
examine for any erroneous results (a result outside of the
expected statistically derived tolerance limits) and to validate if
required; the acceptable levels of accuracy and precision for all
stages of the sampling and analytical process. Typically,
batcheswhich failquality controlchecks arere-analysed.
Verification of
sampling and
assaying		 •
The
verification
of
significant
intersections by either independent or
alternative company personnel.
•The use of twinned holes.
•Documentation of primary data, data
entry procedures, data verification and
data storage (physical and electronic)
protocols.
•Discuss any adjustment to assay data		 •
Independent internal or external verification of significant
intercepts is not routinely completed. The quality control / quality
assurance (QAQC) process ensures the intercepts are
representative for the orogenic gold systems. Half core and
sample pulps are retained at Red Lake Operations for two years
if further verification is required.
•
The twinning of holes is not a common practice undertaken at
Red Lake Operations. The face sample and drill hole data with
the mill reconciliation data is of sufficient density to validate
neighbouring samples. Data which is inconsistent with the
known geology undergoes further verification to ensure its
quality.
•
All sample and assay information is stored utilising the acQuire
database software system. Data undergoes QAQC validation
prior to being accepted and loaded into the database. Assay
results are merged when received electronically from the
laboratory. The geologist reviews the database checking for the
correct merging of results and that all data has been received
and entered. Any adjustments to this data are recorded
permanently in the database. Historical paper records (where
available) are retained in the exploration and mining offices.
•
No adjustments or calibrations have been made to the final
assay datareported by thelaboratory.
Location of data
points		 •Accuracy and quality of surveys used
to locate drillholes (collar and downhole
surveys), trenches, mine workings and
other
locations
used
in
Mineral
Resource estimation.
•Specification of the grid system used.
•Quality and adequacy of topographic
control.		 •
Drill hole collar positions are surveyed by the site-based survey
department or contract surveyors (utilising a differential GPS or
conventional surveying techniques, with reference to a known
base station) with a precision of less than 0.2m variability.
•
All drill holes at Red Lake Operations have been surveyed for
easting, northing and reduced level. Recent data is collected
and stored in RLO Mine Grid.
•
Topographic control was generated from aerial surveys and
detailed Lidar surveys.
Data spacing and
distribution		 •Data spacing for reporting of
Exploration Results.
•Whether the data spacing and
distribution is sufficient to establish the
degree
of
geological
and
grade
continuity appropriate for the Mineral
Resource and Ore Reserve estimation
procedure(s)
and
classifications
applied.
•Whether sample compositing has
been applied.		 •
The nominal drill spacing for Exploration drilling is 22m x 42m
or wider and for Resource Definition is 11m x 21m.This spacing
includes data that has been verified from previous exploration
activities on the project.
•
Data spacing and distribution is considered sufficient for
establishing
geological continuity
and
grade
variability
appropriate for classifying a Mineral Resource.
•
Sample compositing was not applied due to the often-narrow
mineralised zones.
Orientation of data in
relation to geological
structure		 •Whether the orientation of sampling
achieves
unbiased
sampling
of
possible structures and the extent to
which this is known, considering the
deposit type.		 •
Mineralised zones in the Red Lake-Campbell deposit are
distinguished first by spatial orientation relative to structural
corridors and second by the style of mineralisation. It is common
for mineralised zones to have multiple styles of mineralisation
within the same host lithology.
•
There are four types of mineralisation in Red Lake-Campbell
Deposit; 1) Vein Style Gold Mineralisation, 2)
Veinand Sulphide Style GoldMineralisation, 3)Disseminated

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 1 Sampling Techniques and Data Red Lake Operations Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
•If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to
have introduced a sampling bias, this
should be assessed and reported if
material.		 Sulphide Style Mineralisation locally referred to as replacement
mineralisation 4) Free Gold Mineralisation Style
•
The relationship between the drilling orientation and the
orientation of key mineralised structures at Red Lake is not
considered to have introduced a sampling bias and is not
considered to be material.
•
Resource Definition and Exploration drilling is typically planned
to intersect mineralised domains in an orientation that does not
introduce sample bias. A small number of holes are drilled at
sub-optimal orientations to test for alternate geological
interpretations.
Sample security •The measures taken to ensure
sample security.		 •
Chain of custody protocols to ensure the security of samples are
followed. Prior to submission samples are retained on site and
access to the samples is restricted. Collected samples are
dropped off at the respective commercial laboratories in North
Western Ontario. Access into the laboratory is restricted and
movements of personnel and the samples are tracked under
supervision of the laboratory staff. During some drill campaigns
some samples are collected directly from site by the commercial
laboratory. While various laboratories have been used, the
chain of custody and sample security protocols have remained
similar.
Audits or reviews •The results of any audits or reviews
of sampling techniques and data.		 •
Internal and External audits have been conducted in the past at
Red Lake Operations.

Red Lake Operations Section 2 Reporting of Exploration Results

Red Lake Operations Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
Mineral tenement and
land tenure status		 •
Type,
reference
name/number,
location
and
ownership
including
agreements or material issues with third
parties
such
as
joint
ventures,
partnerships,
overriding
royalties,
native title interests, historical sites,
wilderness
or
national
park
and
environmental settings.
•The security of the tenure held at the
time of reporting along with any known
impediments to obtaining a licence to
operate in the area.		 •
Resource Definition drilling was undertaken on the following
mining claims: Cochenour & Red Lake Claims: PAT-8059,
PAT-8064,PAT-6850,PAT-6836,MLO-3508
•
All mining claims are in good standing. Tenure consists of
Patents, subject to annual Mining Land Taxes issued in
January.
•
Title registered on land tenure is 100% owned.
•
There are currently no paying Royalties. Of the five known
Royalties within the Mine Closure Plan, two are proximal to the
current Cochenour workings, TVX (Kinross) and Inco (Vale),
and one is proximal to the Red Lake workings (Hill). The
shapes are recorded in Engineering work files for future
reference and mine planning.
•
Historical sites have been rehabilitated and are monitored by
the Environmental Dept.
Exploration done by
other parties		 •Acknowledgment and appraisal of
exploration by other parties.		 •
Red Lake and Campbell were first staked during the Red Lake
Gold Rush in 1926. Subsequently, there was a period of claim
cancellations and re-staking of the area. Both mines opened in
the late 1940s. Red Lake and Campbell Mine were combined
in 2006 when Goldcorp purchased Campbell Mine.
•
The earliest known exploration on the Cochenour–Willans
property was in 1925. Cochenour–Willans Gold Mines Ltd. was
incorporated in 1936 and production began in 1939 at a rate of
136–181 t/d. Operations ran for 32 years, from 1939–1971. It
was acquired by Goldcorp in 2008.
•
Aside from the Red Lake gold mines and Cochenour mine,
Evolution also holds past producing operations that include the

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
HG Young, Abino, McMarmac, Gold Eagle Mine, and McKenzie
Red Lake mines.
Geology •Deposit type, geological setting and
style of mineralisation.		 •
The mineralization within the Red Lake Operations can be
classified as an Archean greenstone belt-hosted gold deposit.
•
Red Lake Operations is hosted in the Red Lake greenstone belt
within the Uchi Domain on the southern margin of the North
Caribou Terrane of the Superior Province, Canada.
•
Red Lake Operations is underlain mainly by tholeiitic basalt and
locally by komatiitic basalt of the Balmer Assemblage. The
mine sequence also includes felsic, peridotitic and other mafic
to lamprophyric intrusive rocks of various younger ages. Both
Red Lake- Campbell and Cochenour deposits are hosted within
significantly folded and sheared portions of the Balmer
assemblage. Shear zones act as primary hydrothermal fluid
corridors and host significant portions of the gold mineralization
in the area. Other significant mineralized structures occur within
lower-strain areas of the stratigraphy, usually associated with
brittle conjugate fracture systems in close proximity to
lithological boundaries possessing high competency contrasts.
•
Gold mineralization is hosted in a variety of rock types within
the Red Lake Greenstone belt, although the majority of the
productive zones occur as vein systems accompanying
sulphide replacement within sheared mafic to komatiitic basalts
of the Balmer Assemblage.
•
Gold bearing zones in the Red Lake-Campbell and Cochenour
deposit are distinguished first by spatial orientation relative to
structural corridors and second by the style of mineralization. It
is common for zones to have multiple styles of mineralization
within the same host lithology. There are four styles of
mineralization common in the Red Lake-Campbell and
Cochenour deposit; Vein style, Vein and Sulphide style,
Disseminated Sulphide (Replacement) style and free gold style.
Drill hole Information •A summary of all information material
to the understanding of the exploration
results including a tabulation of the
following information for all Material
drillholes:
o easting and northing of the drillhole
collar
o elevation or RL of the drillhole collar
o dip and azimuth of the hole
o downhole length and interception
depth
o hole length.		 •
Refer to the drill hole information table in the Appendix of this
report.
Data aggregation
methods		 •In reporting Exploration Results,
weighting
averaging
techniques,
maximum
and/or
minimum
grade
truncations (e.g. cutting of high grades)
and cut-off grades are usually material
and should be stated.
•
Where
aggregate
intercepts
incorporate short lengths of high-grade
results and longer lengths of low-grade
results, the procedure used for such
aggregation should be stated and some
typical examples of such aggregations
should be shown in detail.
•The assumptions used for any
reporting of metal equivalent values
should be clearly stated.		 •
For results reporting: A minimum grade truncation of 2.74gpt
standard is followed; no maximum grade truncation standard is
applied.
•
Where aggregate intercepts incorporate short lengths of high-
grade and longer lengths of low-grade results, a weighted
average of the values is applied to report the entire aggregate
intercept. A short length high-grade intercept is then highlighted
as an including value if result is >3 times the grade of the entire
aggregate intercept in which it is incorporated.
•
Intercept length weighted average techniques, minimum grade
truncations and cut-off grades have been used in this report.
•
If a hole has NSA values (ie g x m is less than 4 or 4g/t x m) the
interval has been removed from the hole. If the entire hole has
NSA, the hole is noted in the table in the appendix with a ‘no
significant assay’ (NSA) value for g/t.
•
Composite lengths and grade and internal significant values are
reported in Appendix.
•
No metal equivalent values are used.

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
Relationship between
mineralisation widths
and intercept lengths		 •These relationships are particularly
important in the reporting of Exploration
Results.
•If the geometry of the mineralisation
with respect to the drill hole angle is
known, its nature should be reported.
•If it is not known and only the
downhole lengths are reported, there
should be a clear statement to this
effect (e.g. ‘downhole length, true width
_not known’) _		 •
At Red Lake Operations where reliable estimated true widths
can be calculated these have been included along with down
hole measurements.
Diagrams •Appropriate maps and sections (with
scales) and tabulations of intercepts
should be included for any significant
discovery being reported. These should
include, but not be limited to a plan view
of drill hole.		 •
Drill hole location diagrams and representative sections of
reported exploration results are provided either below or in the
body of this report.
Plan view showing all drill holes and target intersection points
collared underground at Red Lake from 441-707-1 EDR.
Plan view showing all drill holes and target intersection
points collared underground at Red Lake from 461-707-1.

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 2 Reporting of Exploration Results

Criteria Explanation Commentary Plan view showing location of drill holes and targeted area, collared underground from 3735 Exploration Drift at the Cochenour Complex (no clipping applied)

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Plan view showing location of drill holes and targeted area, collared underground from 4485 Exploration Drift at the Cochenour Complex (no clipping).

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Plan view showing location of drill holes and targeted area, collared underground from 5320 Exploration Drift at the Cochenour Complex (no clipping).

Balanced reporting

• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

  • Exploration and Resource Definition results have been reported in the Drill Hole Information Summary in the Appendix of this report.

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
Other substantive
exploration data		 •Other exploration data, if meaningful
and material, should be reported
including (but not limited to): geological
observations;
geophysical
survey
results; geochemical survey results;
bulk samples – size and method of
treatment; metallurgical test results;
bulk density, groundwater, geotechnical
and
rock
characteristics;
potential
deleterious
or
contaminating
substances.		 •
A substantial Exploration and Resource Definition program is
on-going at the Red Lake Operation site.
Further work •The nature and scale of planned
further work (e.g. tests for lateral
extensions or depth extensions or
largescale step-out drilling).
•Diagrams clearly highlighting the
areas of possible extensions, including
the main geological interpretations and
future drilling areas, provided this
information
is
not
commercially
sensitive.		 •
Further Exploration, Near Mine Exploration and Resource
Definition work on the Red Lake Operations is planned for the
remainder of FY21

Cowal

Cowal Section 1 Sampling Techniques and Data

Cowal Section 1 Sampling Techniques and Data Cowal Section 1 Sampling Techniques and Data Cowal Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
Sampling techniques •Nature and quality of sampling (e.g. cut
channels, random chips, or specific
specialised
industry
standard
measurement tools appropriate to the
minerals under investigation, such as
downhole gamma sondes, handheld
XRF instruments, etc.). These examples
should not be taken as limiting the broad
meaning of sampling.
•Include reference to measures taken to
ensure sample representation and the
appropriate
calibration
of
any
measurement tools or systems used.
•Aspects of the determination of
mineralisation that are material to the
Public Report.
•In cases where ‘industry standard’
work has been completed this would be
relatively
simple
(e.g.
‘reverse
circulation drilling was used to obtain 1
m samples from which 3 kg was
pulverised to produce a 30 g charge for
fire assay’). In other cases, more
explanation may be required, such as
where there is coarse gold that has
inherent sampling problems, or unusual
commodities/mineralisation types (e.g.
submarine nodules).		 •
Holes in this report consist of conventional diamond core
drilling.
•
Drill holes were positioned strategically to infill gaps in the
existing drill data set and test continuity of known
lodes/mineralised structures. Collar and down hole surveys
were utilised to accurately record final locations. Industry
standard sampling, assaying and QA/QC practices were
applied to all holes.
•
Prior to 2018 drill core was halved with a diamond saw in 1 m
intervals, irrespective of geological contacts. Since 2018
Sampling to lithological contacts has been implemented. Oxide
material that was too soft and friable to be cut with a diamond
saw was split with a chisel. Core was cut to preserve the bottom
of hole orientation mark and the top half of core sent for analysis
to ensure no bias is introduced. RC samples were collected
directly from a splitter at the drill rig.
•
Sample preparation was conducted by SGS West Wyalong and
ALS Orange. Sample preparation consisted of:
Drying in the oven at 105ºC; crushing in a jaw crusher; fine
crushing in a Boyd crusher to 2-3mm; rotary splitting a 3kg
assay sub-sample if the sample is too large for the LM5 mill;
pulverising in the LM5 mill to nominal; 90% passing 75 µm; and
a 50g fire assay charge was taken with an atomic absorption
(AA) finish. The detection limit was 0.01 g/t Au

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Cowal Section 1 Sampling Techniques and Data Cowal Section 1 Sampling Techniques and Data Cowal Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
Drilling techniques •Drill type (e.g. core, reverse circulation,
open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc.) and details
(e.g. core diameter, triple or standard
tube, depth of diamond tails, face-
sampling bit or other type, whether core
is oriented and if so, by what method,
etc.).		 •
Diamond drill holes were drilled HQ diameter through the
clay/oxide and NQ diameter through the primary rock to end of
hole.
•
All core in this report has been drilled since 2009 and has been
oriented using accepted industry techniques at the time.
Drill sample recovery •Method of recording and assessing core
and chip sample recoveries and results
assessed.
•Measures taken to maximise sample
recovery
and
ensure
representative
nature of the samples.
•Whether a relationship exists between
sample recovery and grade and whether
sample bias may have occurred due to
preferential
loss/gain
of
fine/coarse
material.		 •
Provisions are made in the drilling contract to ensure that hole
deviation is minimised, and core sample recovery is maximised.
Core recovery is recorded in the database. There are no
significant core loss or sample recovery issues. Core is
reoriented and marked up at 1m intervals. Measurements of
recovered core are made and reconciled to the driller’s depth
blocks, and if necessary, to the driller’s rod counts.
•
There is very no apparent relationship between core-loss and
grade.
Logging •Whether core and chip samples have
been geologically and geotechnically
logged to a level of detail to support
appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
•Whether logging is qualitative or
quantitative in nature. Core (or costean,
channel etc.) photography.
The total length and percentage of the
relevant intersections logged.		 •
Geologists log core for lithology, alteration, structure, and
veining. Logging was done directly onto laptop computers via
LogChief software which is validated and uploaded directly into
the Datashed database.
•
The Cowal logging system allows recording of both a primary
and a secondary lithology and alteration. Geologists also record
the colour, texture, grain size, sorting, rounding, fabric, and
fabric intensity characterising each lithological interval.
•
The logged structures include faults, shears, breccias, major
veins, lithological contacts, and intrusive contacts. Structures
are also recorded as point data to accommodate orientation
measurements.
•
Structural measurements are obtained using a core orientation
device. Core is rotated into its original orientation, using the
Gyro survey data as a guide. Freiberg compasses and
Kenometer Core Orientation tools are used for structural
measurements.
•
Geologists log vein data including vein frequency, vein
percentage of interval, vein type, composition, sulphide
percentage per metre, visible gold, sulphide type, and
comments relative to each metre logged.
•
Geotechnical logging is done by field technicians and
geologists. Logging is on a per metre basis and includes
percentage core recovery, percentage RQD, fracture count, and
an estimate of hardness. The geotechnical data is entered into
the database.
•
All drill core, once logged, is digitally photographed on a core
tray-by-tray basis. The digital image captures all metre marks,
the orientation line (BOH) and geologist’s lithology, alteration,
mineralogy, and other pertinent demarcations. The geologists
highlight geologically significant features such that they can be
clearly referenced in the digital images.
Sub-sampling
techniques and
sample preparation		 •If core, whether cut or sawn and
whether quarter, half or all core taken.
•If non-core, whether riffled, tube
sampled, rotary split, etc. and whether
sampled wet or dry.
•For all sample types, the nature, quality
and appropriateness of the sample
preparation technique.		 •
Diamond Core is cut with a diamond saw or chisel. Core is cut
to preserve the bottom of hole orientation mark and the top half
of core is always sent for analysis to ensure no bias is
introduced.
•
In 2003 Analytical Solutions Ltd conducted a Review of Sample
Preparation, Assay and Quality Control Procedures for Cowal
Gold Project. This study, combined with respective operating
company policy and standards (North Ltd, Homestake, Barrick
and Evolution) formed the framework for the sampling, assaying
and QAQC protocols used at Cowal to ensure appropriate and
representative sampling.
•
Results per intervalarereviewedfor halfcore samples andif

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Cowal Section 1 Sampling Techniques and Data Cowal Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
•Quality control procedures adopted for
all sub-sampling stages to maximise
representivity of samples.
•Measures taken to ensure that the
sampling is representative of the in-situ
material collected, including for instance
results for field duplicate/second-half
sampling.
•Whether sample sizes are appropriate
to the grain size of the material being
sampled.		 unexpected or anomalous assays are returned an additional
quarter core may be submitted for assay.
Quality of assay data
and laboratory tests		 •The nature, quality and appropriateness
of
the
assaying
and
laboratory
procedures
used
and whether
the
technique is considered partial or total.
•For geophysical tools, spectrometers,
handheld XRF instruments etc. the
parameters used in determining the
analysis including instrument make and
model, reading times, calibrations factors
applied and their derivation, etc.
•Nature of quality control procedures
adopted
(e.g.
standards,
blanks,
duplicates, external laboratory checks)
and
whether
acceptable
levels
of
accuracy (i.e. lack of bias) and precision
have been established.		 •
SGS West Wyalong and ALS Orange are utilised as primary
sources of analytical information. Round robin checks are
completed regularly between the two laboratories. Both labs
operate to international standards and procedures and take part
in the Geostatistical Round Robin inter-laboratory test survey.
The Cowal QA/QC program comprises blanks, Certified
Reference Material (CRM), inter-laboratory duplicate checks,
and grind checks.
•
1 in 30 fine crush residue samples has an assay duplicate. 1 in
20 pulp residue samples has an assay duplicate.
•
Wet screen grind checks are performed on 1 in 20 pulp residue
samples. A blank is submitted 1 in every 38 samples, CRM’s
are submitted 1 in every 20 samples. The frequency of repeat
assays is set at 1 in 30 samples.
•
All sample numbers, including standards and duplicates, are
pre-assigned by a QA/QC Administrator and given to the
sampler on a sample sheet. The QA/QC Administrator monitors
the assay results for non-compliance and requests action when
necessary. Batches with CRM’s that are outside the ±2SD
acceptance criteria are reviewed and re-assayed if definitive
bias is determined or if re-assay will make a material difference.
•
Material used for blanks is uncertified, sourced locally,
comprising fine river gravel which has been determined to be
below detection limit. A single blank is submitted every 38
samples. Results are reviewed by the QA/QC Administrator
upon receipt for non-compliances. Any assay value greater than
0.1 g/t Au will result in a notice to the laboratory. Blank assays
above 0.20 g/t Au result in re-assay of the entire batch. The
duplicate assays (Au2) are taken by the laboratory during the
subsampling at the crushing and pulverisation stages. The
results were analysed using scatter plots and relative
percentage difference (RPD) plots. Repeat assays represent
approx. 10% of total samples assayed. Typically, there is a large
variance at the lower grades which is common for low grade
gold deposits, however, the variance decreases to less than
10% for grades above 0.40 g/t Au, which is the cut-off grade
used at Cowal.
•
Approximately 5% of the pulps, representing a range of
expected grades, are submitted to an umpire assay laboratory
(ALS Orange) to check for repeatability and precision. Analysis
of the data shows that the Principal Laboratory is performing to
an acceptable level.
Verification of
sampling and
assaying		 •
The
verification
of
significant
intersections by either independent or
alternative company personnel.
•The use of twinned holes.
•Documentation of primary data, data
entry procedures, data verification and
data storage (physical and electronic)
protocols.		 •
No dedicated twinning drilling has been conducted for this drill
program.
•
Cowal uses DataShed software system to maintain the
database. Digital assay results are loaded directly into the
database. The software performs verification checks including
checking for missing sample numbers, matching sample
numbers, changes in sampling codes, inconsistent “from-to”
entries, and missing fields. Results are not entered into the
database until the QA/QC Administrator approves of the results.
A QA/QC report is completed for each drill hole and filed with
the log, assay sheet, and other appropriate data. Only the
Senior Project Geologist and Database Manager have

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Cowal Section 1 Sampling Techniques and Data Cowal Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
•Discuss any adjustment to assay data administrator rights to the database. Others can use and sort
the database but not save or delete data.
Location of data
points		 •Accuracy and quality of surveys used to
locate drillholes (collar and downhole
surveys), trenches, mine workings and
other locations used in Mineral Resource
estimation.
•Specification of the grid system used.
•Quality and adequacy of topographic
control.		 •
All drill hole collars were surveyed using high definition DGPS.
All drill holes were surveyed using a downhole survey camera.
The first survey reading was taken near the collar to determine
accurate set up and then at regular intervals downhole.
•
On completion of each angled drill hole, a down hole gyroscopic
(Gyro) survey was conducted. The Gyro tool was referenced to
the accurate surface surveyed position of each hole collar.
•
The Gyro results were entered into the drill hole database
without conversion or smoothing.
•
An aerial survey was flown during 2003 by AAM Hatch. This
digital data has been combined with surveyed drill hole collar
positions and other features (tracks, lake shoreline) to create a
digital terrain model (DTM). The survey was last updated in late
2014.
•
In 2004, Cowal implemented a new mine grid system with the
assistance of AAM Hatch. The current mine grid system covers
all areas within the ML and ELs at Cowal with six digits.
Data spacing and
distribution		 •
Data
spacing
for
reporting
of
Exploration Results.
•
Whether
the
data spacing
and
distribution is sufficient to establish the
degree of geological and grade continuity
appropriate for the Mineral Resource and
Ore Reserve estimation procedure(s) and
classifications applied.
•Whether sample compositing has been
applied.		 •
The exploration drillholes reported in this report are targeted to
test for continuity of mineralisation as interpreted from previous
drilling. It is not yet known whether this drilling is testing the full
extent of the mineralised geological zones. All drilling prior to
2018 is sampled at 1 m intervals down hole. Lithological based
sampling was implemented in 2018 with a maximum sample
length of 1m and a minimum sample length of 0.3m to avoid
sampling across geological boundaries.
Orientation of data in
relation to geological
structure		 •Whether the orientation of sampling
achieves unbiased sampling of possible
structures and the extent to which this is
known, considering the deposit type.
•If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to
have introduced a sampling bias, this
should be assessed and reported if
material.		 •
Diamond holes were positioned to optimise intersection angles
of the target area. In respect of the drilling at E41W drilling is
targeted to drill at right angles to the dominant vein direction
however the extent of the vein package is currently unknown.
•
Drilling at Galway Regal is oriented perpendicular to the known
mineralised package.
Sample security •The measures taken to ensure sample
security.		 •
Drill contractors are issued with drill instructions by an Evolution
geologist. The sheet provides drill hole names, details, sample
requirements, and depths for each drill hole. Drill hole sample
bags are pre-numbered. The drill holes are sampled by
Evolution personnel who prepare sample submission sheets.
The submission sheet is then emailed to the laboratory with a
unique submission number assigned. This then allows
individual drill holes to be tracked.
•
An SGS West Wyalong (SGS) representative collects the
samples from site twice daily, however, if samples are being
sent to another laboratory a local freight company is used to
collect the samples from site and deliver them to the laboratory.
Upon arrival, the laboratory sorts each crate and compares the
received samples with the supplied submission sheet. The
laboratory assigns a unique batch number and dispatches a
reconciliation sheet for each submission via email. The
reconciliation sheet is checked, and any issues addressed. The
new batch name and dispatch information is entered into the
tracking sheet. The laboratory processes each batch separately
and tracks all samples through the laboratory utilising the LIMS
system. Upon completion, the laboratory emails Standard
Industry Format (SIF) files with the results for each batch to
Evolution personnel.

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Cowal Section 1 Sampling Techniques and Data Cowal Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
•
The assay batch files are checked against the tracking
spreadsheet and processed. The drill plan is marked off
showing completed drill holes. Any sample or QA/QC issues
with the results are tracked and resolved with the laboratory.
Audits or reviews •The results of any audits or reviews of
sampling techniques and data.		 •
QA/QC Audits of the Primary SGS West Wyalong Laboratory
are carried out on an approximately quarterly basis and for the
Umpire ASL Orange Laboratory approximately on a six-monthly
basis. Any issues are noted and agreed remedial actions
assigned and dated for completion.
•
Numerous internal audits of the database and systems have
been undertaken by site geologists and company technical
groups from North Ltd, Homestake, Barrick and Evolution.
External audits were conducted in 2003 by RMI and QCS Ltd.
and in 2011 and 2014 review and validation was conducted by
RPA. MiningOne conducted a review of the Cowal Database in
2016 as part of the peer review process for the Stage H
Feasibility Study. Recent audits have found no significant issues
with data management systems or data quality.

Cowal Section 2 Reporting of Exploration Results

Cowal Section 2 Reporting of Exploration Results Cowal Section 2 Reporting of Exploration Results Cowal Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
Mineral tenement and
land tenure status		 •Type, reference name/number, location
and ownership including agreements or
material issues with third parties such as
joint ventures, partnerships, overriding
royalties, native title interests, historical
sites, wilderness or national park and
environmental settings.
•The security of the tenure held at the
time of reporting along with any known
impediments to obtaining a licence to
operate in the area.		 •
The Cowal Mine is located on the western side of Lake
Cowal in central New South Wales, approximately 38 km
north of West Wyalong and 350 km west of Sydney. Drilling
documented in this report was undertaken on ML1535. This
Lease is wholly owned by Evolution Mining Ltd. and CGO
has all required operational, environmental and heritage
permits and approvals for the work conducted on the Lease.
There are not any other known significant factors or risks
that may affect access, title, or the right or ability to perform
further work programs on the Lease.
Exploration done by
other parties		 •Acknowledgment and appraisal of
exploration by other parties.		 •
The Cowal region has been subject to various exploration and
drilling programs by GeoPeko, North Ltd., Rio Tinto Ltd.,
Homestake and Barrick.
Geology •Deposit type, geological setting and
style of mineralisation.		 •
The Cowal gold deposits (E41, E42, E46, Galway and Regal)
occur within the 40 km long by 15 km wide Ordovician Lake
Cowal Volcanic Complex, east of the Gilmore Fault Zone
within the eastern portion of the Lachlan Fold Belt. There is
sparse outcrop across the Lake Cowal Volcanic Complex.
Consequently, the regional geology has largely been defined
by interpretation of regional aeromagnetic and exploration
drilling programs.
•
The Lake Cowal Volcanic Complex contains potassium rich
calc-alkaline to shoshonitic high level intrusive complexes,
thick trachyandesitic volcanics, and volcaniclastic sediment
piles.
•
The gold deposits at Cowal are structurally hosted,
epithermal to mesothermal gold deposits occurring within and
marginal to a 230 m thick dioritic to gabbroic sill intruding
trachy-andesitic volcaniclastic rocks and lavas.
•
The overall structure of the gold deposits is complex but in
general consists of a faulted antiform that plunges shallowly
to the north-northeast. The deposits are aligned along a
north-south orientated corridor with bounding faults, the

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Cowal Section 2 Reporting of Exploration Results Cowal Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
Booberoi Fault on the western side and the Reflector Fault on
the eastern side (the Gold Corridor).
Drill hole Information •A summary of all information material to
the understanding of the exploration
results including a tabulation of the
following information for all Material
drillholes:
•
easting and northing of the drillhole
collar
•
elevation or RL of the drillhole collar
•
dip and azimuth of the hole
•
downhole length and interception
depth
•
hole length.		 •
Drill hole information is provided in the Drill Hole Information
Summary presented in the Appendix of this report.
Data aggregation
methods		 •
In
reporting
Exploration
Results,
weighting
averaging
techniques,
maximum
and/or
minimum
grade
truncations (e.g. cutting of high grades)
and cut-off grades are usually material
and should be stated.
•Where aggregate intercepts incorporate
short lengths of high grade results and
longer lengths of low grade results, the
procedure used for such aggregation
should be stated and some typical
examples of such aggregations should be
shown in detail.
•The assumptions used for any reporting
of metal equivalent values should be
clearly stated.		 •
Significant intercepts have nominally been calculated based
on a minimum interval length of 3m, max internal dilution of
5m and a minimum grade of 0.4g/t Au. However, some
intervals with sizable Au grades may be reported individually
if appropriate. Au Grades are reported un-cut.
Relationship between
mineralisation widths
and intercept lengths		 •These relationships are particularly
important in the reporting of Exploration
Results.
•If the geometry of the mineralisation with
respect to the drill hole angle is known, its
nature should be reported.
•If it is not known and only the downhole
lengths are reported, there should be a
clear statement to this effect (e.g.
‘downhole length, true width not known’)		 •
Mineralisation within the drilling area is bounded by large
north-south trending structures, however it has strong
internally oblique structural controls. Drill holes are typically
oriented to optimise the angle of intercept at the target
location. All significant intercepts are reported as down hole
intervals unless labelled as Estimated True Widths (ETW).
Diagrams •Appropriate maps and sections (with
scales) and tabulations of intercepts
should be included for any significant
discovery being reported. These should
include, but not be limited to a plan view
of drill hole		 •
A drill hole location plan for reported drilling at Cowal and a
representative section are provided below.
Drill hole location plan

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Cowal Section 2 Reporting of Exploration Results Cowal Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
Cross section through E42 and GRE46
Balanced reporting •Where comprehensive reporting of all
Exploration Results is not practicable,
representative reporting of both low and
high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results		 •
Significant intercepts reported are only those areas where
mineralisation was identified.
•
These assay results have not been previously reported.
•
All earlier significant assay results have been reported in
previous ASX announcements.
•
The intercepts reported for this period form part of a larger
drill program that was still in progress at the time of writing.
Remaining holes are awaiting logging, processing and
assays and future significant results will be published as
appropriate.
Other substantive
exploration data		 •Other exploration data, if meaningful
and material, should be reported including
(but
not
limited
to):
geological
observations; geophysical survey results;
geochemical survey results; bulk samples
–
size
and
method
of
treatment;
metallurgical test results; bulk density,
groundwater,
geotechnical
and
rock
characteristics; potential deleterious or
contaminating substances.		 •
No other substantive data was collected during the report
period.
Further work •The nature and scale of planned further
work (e.g. tests for lateral extensions or
depth extensions or largescale step-out
drilling).
•Diagrams clearly highlighting the areas
of possible extensions, including the main
geological
interpretations
and
future
drilling areas, provided this information is
not commercially sensitive.		 •
Results from these programs will be incorporated into current
models and interpretations and further work will be
determined based on the outcomes.

Mungari

Mungari Section 1 Sampling Techniques and Data

Mungari Section 1 Sampling Techniques and Data Mungari Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
Sampling techniques •Nature and quality of sampling (e.g. cut
channels, random chips, or specific
specialised
industry
standard		 •
Sampling of gold mineralisation at Mungari was undertaken
using diamond core (surface) and reverse circulation (RC)
drillchips.

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Mungari Section 1 Sampling Techniques and Data Mungari Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
measurement tools appropriate to the
minerals under investigation, such as
downhole gamma sondes, handheld
XRF instruments, etc). These examples
should not be taken as limiting the broad
meaning of sampling.
•Include reference to measures taken to
ensure sample representation and the
appropriate
calibration
of
any
measurement tools or systems used.
•Aspects of the determination of
mineralisation that are material to the
Public Report.
•In cases where ‘industry standard’ work
has been completed this would be
relatively simple (e.g. ‘reverse circulation
drilling was used to obtain 1 m samples
from which 3 kg was pulverised to
produce a 30 g charge for fire assay’). In
other cases, more explanation may be
required, such as where there is coarse
gold
that
has
inherent
sampling
problems,
or
unusual
commodities/mineralisation types (e.g.
submarine nodules).		 •
All drill samples were logged prior to sampling. Diamond drill
core was sampled to lithological, alteration and mineralisation
related contacts, whilst RC samples were collected at 1m
downhole intervals. Sampling was carried out according to
Evolution protocols and QAQC procedures which comply with
industry best practice. All drill-hole collars were surveyed
using a total station theodolite or total GPS.
•
The sampling and assaying methods are appropriate for the
orogenic mineralised system and are representative for the
mineralisation style. The sampling and assaying suitability
was validated using Evolution’s QAQC protocol and no
instruments or tools requiring calibration were used as part of
the sampling process.
•
RC drilling was sampled to obtain 1m samples using a static
cone splitter from which 3 to 5 kg was crushed and pulverised
to produce a 30g to 50g subsample for fire assay. Diamond
drillcore sample intervals were based on geology to ensure a
representative sample, with lengths ranging from 0.2 to 1.2m.
Surface diamond drilling was half core sampled. All diamond
core samples were dried, crushed and pulverised (total
preparation) to produce a 30g to 50g charge for fire assay of
Au. A suite of multi elements are determined using four-acid
digest with ICP/MS and/or an ICP/AES finish for some
sample intervals.
Drilling techniques •Drill type (e.g. core, reverse circulation,
open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc.) and details
(e.g. core diameter, triple or standard
tube, depth of diamond tails, face-
sampling bit or other type, whether core is
oriented and if so, by what method, etc.).		 •
RC sampling was completed using a 4.5” to 5.5” diameter
face sampling hammer. Diamond holes from surface were
predominantly wireline NQ2 (50.5mm) or HQ (63.5mm)
holes.
•
All diamond core from surface core was orientated using the
reflex (act II or ezi-ori) tool.
Drill sample recovery •Method of recording and assessing core
and chip sample recoveries and results
assessed.
•Measures taken to maximise sample
recovery
and
ensure
representative
nature of the samples.
•Whether a relationship exists between
sample recovery and grade and whether
sample bias may have occurred due to
preferential
loss/gain
of
fine/coarse
material.		 •
RC drilling sample weights were recorded for selected
sample intervals and monitored for fluctuations against the
expected sample weight. If samples were below the
expected weight, feedback was given promptly to the RC
driller to modify drilling practices to achieve the expected
weights.
•
All diamond core was orientated and measured during
processing and the recovery recorded into the drill-hole
database. The core was reconstructed into continuous runs
on a cradle for orientation marking. Hole depths were
checked against the driller’s core blocks.
•
Inconsistencies between the logging and the driller’s core
depth measurement blocks are investigated. Core recovery
has been acceptable. Surface drilling recoveries were
generally excellent with the exception of oxide zones
however these rarely fell below 90%.
•
Measures taken to maximise sample recovery include
instructions to drillers to slow down drilling rates or reduce the
coring run length in less competent ground.
•
Analysis of drill sample bias and loss/gain was undertaken
with the Overall Mine Reconciliation performance where
available.
Logging •Whether core and chip samples have
been geologically and geotechnically
logged to a level of detail to support
appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
•Whether logging is qualitative or
quantitative in nature. Core (or costean,
channel etc.) photography.
The total length and percentage of the
relevant intersections logged.		 •
RC drill chips and diamond core have been geologically
logged to the level of detail required for the Mineral Resource
estimation, mining studies and metallurgical studies.
•
All logging is both qualitative and quantitative in nature
recording features such as structural data, RQD, sample
recovery, lithology, mineralogy, alteration, mineralisation
types, vein density, oxidation state, weathering, colour etc.
All holes are photographed wet.
•
All RC and diamond holes were logged in entirety from collar
to end of hole.

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Mungari Section 1 Sampling Techniques and Data Mungari Section 1 Sampling Techniques and Data Mungari Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
Sub-sampling
techniques and
sample preparation		 •If core, whether cut or sawn and whether
quarter, half or all core taken.
•If non-core, whether riffled, tube
sampled, rotary split, etc and whether
sampled wet or dry.
•For all sample types, the nature, quality
and appropriateness of the sample
preparation technique.
•Quality control procedures adopted for
all sub-sampling stages to maximise
representivity of samples.
•Measures taken to ensure that the
sampling is representative of the in-situ
material collected, including for instance
results for field duplicate/second-half
sampling.
•Whether sample sizes are appropriate
to the grain size of the material being
sampled.		 •
Most diamond core drilled from surface was half core
sampled and the remaining half was retained. In the oxide
zone, where cutting can wash away samples, some surface
holes were full core sampled.
•
All RC samples were split by a cone or a riffle splitter and
collected into a sequenced calico bag. Any wet samples that
could not be riffle split were dried then riffle split.
•
Sample preparation of RC and diamond samples was
undertaken by external laboratories according to the sample
preparation and assaying protocol established to maximise
the
representation
of
the
Mungari
mineralisation.
Laboratories performance was monitored as part of
Evolution’s QAQC procedure. Laboratory inspections were
undertaken to monitor the laboratories compliance to the
Mungari sampling and sample preparation protocol.
•
The sample and size (2.5kg to 4kg) relative to the particle size
(>85% passing 75um) of the material sampled is a commonly
utilised practice for effective sample representation for gold
deposits within the Eastern Goldfields of Western Australia.
•
Quality control procedures adopted to maximise sample
representation for all sub-sampling stages include the
collection of field and laboratory duplicates and the insertion
of certified reference material as assay standards (1 in 20)
and the insertion of blank samples (1 in 20) or at the
geologist’s discretion. Coarse blank material is routinely
submitted for assay and is inserted into each mineralised
zone where possible. The quality control performance was
monitored as part of Evolution’s QAQC procedure.
•
The sample preparation has been conducted by commercial
laboratories. All samples are oven dried (between 85°C and
105°C), jaw crushed to nominal <3mm and if required split by
a rotary splitter device to a maximum sample weight of 3.5kg
as required. The primary sample is then pulverised in a one
stage process, using a LM5 pulveriser, to a particle size of
>85% passing 75um. Approximately 200g of the primary
sample is extracted by spatula to a numbered paper pulp bag
that is used for a 40g fire assay charge. The pulp is retained
and the bulk residue is disposed of after two months.
•
Measures taken to ensure sample representation include the
collection of field duplicates during RC drilling at a frequency
rate of 5%. Duplicate samples for both RC chips and
diamond core are collected during the sample preparation
pulverisation stage. A comparison of the duplicate sample
vs. the primary sample assay result was undertaken as part
of Evolution’s QAQC protocol. It is considered that all sub-
sampling and lab preparations are consistent with other
laboratories in Australia and are satisfactory for the intended
purpose.
•
The sample sizes are considered appropriate and in line with
industry standards.
Quality of assay data
and laboratory tests		 •The nature, quality and appropriateness
of
the
assaying
and
laboratory
procedures
used
and
whether
the
technique is considered partial or total.
•For geophysical tools, spectrometers,
handheld XRF instruments etc. the
parameters used in determining the
analysis including instrument make and
model, reading times, calibrations factors
applied and their derivation, etc.
•Nature of quality control procedures
adopted
(eg
standards,
blanks,
duplicates, external laboratory checks)
and
whether
acceptable
levels
of		 •
The sampling preparation and assaying protocol used at
Mungari was developed to ensure the quality and suitability
of the assaying and laboratory procedures relative to the
mineralisation types.
•
Fire assay is designed to measure the total gold within a
sample. Fire assay has been confirmed as a suitable
technique for orogenic type mineralisation. It has been
extensively used throughout the Goldfields region. Screen
fire assay and LeachWELL / bottle roll analysis techniques
have also been used to validate the fire assay techniques.
•
The technique utilised a 30g, 40g or 50g sample charge with
a lead flux, which is decomposed in a furnace with the prill
being totally digested by 2 acids (HCI and HN03) before the
gold content is determined by an AAS machine.
•
No geophysical tools or other remote sensing instruments
were utilised for reporting or interpretation of gold
mineralisation.

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Mungari Section 1 Sampling Techniques and Data Mungari Section 1 Sampling Techniques and Data Mungari Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
accuracy (i.e. lack of bias) and precision
have been established.		 •
Quality control samples were routinely inserted into the
sampling sequence and were also inserted either inside or
around the expected zones of mineralisation. The intent of
the procedure for reviewing the performance of certified
standard reference material is to examine for any erroneous
results (a result outside of the expected statistically derived
tolerance limits) and to validate if required; the acceptable
levels of accuracy and precision for all stages of the sampling
and analytical process. Typically, batches which fail quality
controlchecks arere-analysed.
Verification of
sampling and
assaying		 •
The
verification
of
significant
intersections by either independent or
alternative company personnel.
•The use of twinned holes.
•Documentation of primary data, data
entry procedures, data verification and
data storage (physical and electronic)
protocols.
•Discuss any adjustment to assay data		 •
Independent internal or external verification of significant
intercepts is not routinely completed. The quality control /
quality assurance (QAQC) process ensures the intercepts
are representative for the orogenic gold systems. Half core
and sample pulps are retained at Mungari if further
verification is required.
•
The twinning of holes is not a common practice undertaken
at Mungari. The face sample and drill hole data with the mill
reconciliation data is of sufficient density to validate
neighbouring samples. Data which is inconsistent with the
known geology undergoes further verification to ensure its
quality.
•
All sample and assay information is stored utilising the
acQuire database software system. Data undergoes QAQC
validation prior to being accepted and loaded into the
database. Assay results are merged when received
electronically from the laboratory. The geologist reviews the
database checking for the correct merging of results and that
all data has been received and entered. Any adjustments to
this data are recorded permanently in the database. Historical
paper records (where available) are retained in the
exploration and mining offices.
•
No adjustments or calibrations have been made to the final
assay datareported by thelaboratory.
Location of data
points		 •Accuracy and quality of surveys used to
locate drillholes (collar and downhole
surveys), trenches, mine workings and
other locations used in Mineral Resource
estimation.
•Specification of the grid system used.
•Quality and adequacy of topographic
control.		 •
All surface drill holes at Mungari have been surveyed for
easting, northing and reduced level. Recent data is collected
and stored in MGA 94 Zone 51 and AHD.
•
Resource drill hole collar positions are surveyed by the site-
based survey department or contract surveyors (utilising a
differential GPS or conventional surveying techniques, with
reference to a known base station) with a precision of less
than 0.2m variability.
•
Topographic control was generated from aerial surveys and
detailed Lidar surveys to 0.2m accuracy.
Data spacing and
distribution		 •Data spacing for reporting of Exploration
Results.
•
Whether
the
data
spacing
and
distribution is sufficient to establish the
degree of geological and grade continuity
appropriate for the Mineral Resource and
Ore Reserve estimation procedure(s) and
classifications applied.
•Whether sample compositing has been
applied.		 •
The nominal drill spacing for Exploration drilling is 80m x 80m
or wider and for Resource Definition is 40m x 40m or in some
areas 20m x 20m. This spacing includes data that has been
verified from previous exploration activities on the project.
•
Data spacing and distribution is considered sufficient for
establishing geological continuity and grade variability
appropriate for classifying a Mineral Resource.
•
Sample compositing was not applied due to the often-narrow
mineralised zones.
Orientation of data in
relation to geological
structure		 •Whether the orientation of sampling
achieves unbiased sampling of possible
structures and the extent to which this is
known, considering the deposit type.
•If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to
have introduced a sampling bias, this
should be assessed and reported if
material.		 •
Mineralisation at the Picante Trend project is hosted along
the sheared contact of tonalite and ultramafic, dipping ~60°
east, with mineralisation also extending into the tonalite
associated with discrete structures. The interplay of these
structures creates plunging high grade shoots on the plane of
the contact.
•
Surface drilling intersects the mineralisation at an appropriate
angle to minimise bias.
•
Drilling at Boomer South is at a high-angle to the interpreted
structural corridor (drilling northeast, dipping -60°)
•
The relationship between the drilling orientation and the
orientationof keymineralised structures atMungari isnot

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Mungari Section 1 Sampling Techniques and Data Mungari Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
considered to have introduced a sampling bias and is not
considered to be material.
•
Resource Definition and Exploration drilling is typically
planned to intersect ore domains in an orientation that does
not introduce sample bias. A small number of holes are drilled
at sub-optimal orientations to test for alternate geological
interpretations.
Sample security •The measures taken to ensure sample
security.		 •
Chain of custody protocols to ensure the security of samples
are followed. Prior to submission samples are retained on site
and access to the samples is restricted. Collected samples
are dropped off at the respective commercial laboratories in
Kalgoorlie. The laboratories are contained within a
secured/fenced compound. Access into the laboratory is
restricted and movements of personnel and the samples are
tracked under supervision of the laboratory staff. During
some drill campaigns some samples are collected directly
from site by the commercial laboratory. While various
laboratories have been used, the chain of custody and
sample security protocolshaveremained similar.
Audits or reviews •The results of any audits or reviews of
sampling techniques and data.		 •
The Mungari geology and drilling database was reviewed by
acQuire in December 2015 and no material issues were
identified.
•
Oscillating cone splitter has been in use for RC sampling at
all prospects. Data collected has returned more consistent
duplicate sample weights than a standard static cone splitter.

Mungari Section 2 Reporting of Exploration Results

Mungari Section 2 Reporting of Exploration Results Mungari Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
Mineral tenement and
land tenure status		 •
Type,
reference
name/number,
location
and
ownership
including
agreements or material issues with third
parties
such
as
joint
ventures,
partnerships,
overriding
royalties,
native title interests, historical sites,
wilderness
or
national
park
and
environmental settings.
•The security of the tenure held at the
time of reporting along with any known
impediments to obtaining a licence to
operate in the area.		 •
Resource Definition drilling was undertaken on the following
tenements: M15/688
•
Exploration drilling was undertaken on the following tenements:
M15/0688, M15/1407, M15/1346, M16/532, M16/141, M16/183
•
All tenements are in good standing and no known impediments
exist. Prospecting leases with imminent expiries will have
mining lease applications submitted in due course.
Exploration done by
other parties		 •Acknowledgment and appraisal of
exploration by other parties.		 •
Exploration has been carried out by a number of parties
including Electrum Resources NL (1985-1989), Castle Hill
Resources NL (1989-1996), Goldfields Exploration Ltd (2001)
and Cazaly Resources Ltd (2004-2008). The historical data and
database have been reviewed by Cube and is deemed to be of
acceptable quality for Mineral Resource estimation.
•
The initial discovery of Frog’s Leg was made by Mines and
Resources Australia Ltd who was a precursor company to La
Mancha Resources Australia Pty Ltd. The deposit was
discovered in 2000 as a result of following up on regional
anomalism identified through rotary air blast (RAB) and aircore
drilling. La Mancha was acquired by Evolution in August 2015.
•
Significant historical work has been performed across the
Regional Tenement package by numerous parties since the
original discovery of gold in the region c.1890. Recent
exploration commenced during the 1970’s onwards and has
included exploration for base metal and gold mineralisation.
Geology •Deposit type, geological setting and
style of mineralisation.		 •
The Picante Trend prospect is located in the northern part of
the Castle Hill mining area. The Boomer South prospect is
located within the Kundana mining camp. Both prosects are

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Mungari Section 2 Reporting of Exploration Results Mungari Section 2 Reporting of Exploration Results Mungari Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
within the Achaean Norseman-Wiluna greenstone belt of the
Eastern Goldfields Province. The Castle Hill gold deposits are
structurally related to the Kunanalling Shear Zone, a regional
NNW-trending shear. The Picante Trend prospect is located
on the sheared contact between the Kintore Tonalite and
Hampton Ultramafics. The deposits of the Kundana mining
camp typically narrow-vein, orogenic gold deposits, associated
with the NNW-trending Zuleika shear zone.
Drill hole Information •A summary of all information material
to the understanding of the exploration
results including a tabulation of the
following information for all Material
drillholes:
o easting and northing of the drillhole
collar
o elevation or RL of the drillhole collar
o dip and azimuth of the hole
o downhole length and interception
depth
o hole length.		 •
Refer to the drill hole information table in the Appendix of this
report.
Data aggregation
methods		 •In reporting Exploration Results,
weighting
averaging
techniques,
maximum
and/or
minimum
grade
truncations (e.g. cutting of high grades)
and cut-off grades are usually material
and should be stated.
•
Where
aggregate
intercepts
incorporate short lengths of high-grade
results and longer lengths of low-grade
results, the procedure used for such
aggregation should be stated and some
typical examples of such aggregations
should be shown in detail.
•The assumptions used for any
reporting of metal equivalent values
should be clearly stated.		 •
Intercept length weighted average techniques, minimum grade
truncations and cut-off grades have been used in this report.
•
At Picante composite grades of > 1 g/t have been reported.
•
Composite lengths and grade as well as internal significant
values are reported in Appendix.
•
No metal equivalent values are used.
Relationship between
mineralisation widths
and intercept lengths		 •These relationships are particularly
important in the reporting of Exploration
Results.
•If the geometry of the mineralisation
with respect to the drill hole angle is
known, its nature should be reported.
•If it is not known and only the
downhole lengths are reported, there
should be a clear statement to this
effect (e.g. ‘downhole length, true width
_not known’) _		 •
There is a direct relationship between the mineralisation widths
and intercept widths at Mungari.
•
The assay results are reported as down hole intervals with an
estimate of true width provided in Appendix.
Diagrams •Appropriate maps and sections (with
scales) and tabulations of intercepts
should be included for any significant
discovery being reported. These should
include, but not be limited to a plan view
of drill hole.		 •
Drill hole location diagrams and representative sections of
reported exploration results are provided either below or in the
body of this report.
Balanced reporting •Where comprehensive reporting of all
Exploration Results is not practicable,
representative reporting of both low and
high grades and/or widths should be
practiced to avoid misleading reporting
of Exploration Results.		 •
All Exploration and Resource Definition results have been
reported in the Drill Hole Information Summary in the Appendix
of this report.
Other substantive
exploration data		 •Other exploration data, if meaningful
and material, should be reported
including (but not limited to): geological
observations;
geophysical
survey
results; geochemical survey results;
bulk samples– size and method of		 •
A substantial Exploration and Resource Definition program is
on-going at the Mungari site. Other works include field mapping
and geophysical surveys.

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Mungari Section 2 Reporting of Exploration Results Mungari Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
treatment; metallurgical test results;
bulk density, groundwater, geotechnical
and
rock
characteristics;
potential
deleterious
or
contaminating
substances.
Further work •The nature and scale of planned
further work (e.g. tests for lateral
extensions or depth extensions or
largescale step-out drilling).
•Diagrams clearly highlighting the
areas of possible extensions, including
the main geological interpretations and
future drilling areas, provided this
information
is
not
commercially
sensitive.		 •
Further Exploration, Near Mine Exploration and Resource
Definition work on the Mungari tenements are continuing during
FY21

Crush Creek JV

Crush Creek JV Section 1 Sampling Techniques and Data

Crush Creek JV Section 1 Sampling Techniques and Data Crush Creek JV Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
Sampling techniques •Nature and quality of sampling (e.g.
cut channels,
random chips,
or
specific specialised industry standard
measurement tools appropriate to the
minerals under investigation, such as
downhole gamma sondes, handheld
XRF
instruments,
etc).
These
examples should not be taken as
limiting
the
broad
meaning
of
sampling.
•Include reference to measures taken
to ensure sample representation and
the appropriate calibration of any
measurement tools or systems used.
•Aspects of the determination of
mineralisation that are material to the
Public Report.
•In cases where ‘industry standard’
work has been completed this would
be relatively simple (e.g. ‘reverse
circulation drilling was used to obtain 1
m samples from which 3 kg was
pulverised to produce a 30 g charge
for fire assay’). In other cases more
explanation may be required, such as
where there is coarse gold that has
inherent
sampling
problems,
or
unusual
commodities/mineralisation
types (e.g. submarine nodules).		 •
Sampling of Au-Ag mineralisation at the Crush Creek JV was
undertaken using diamond core (surface).
•
All drill samples were logged prior to sampling. Diamond drill
core was sampled to lithological, alteration and mineralisation
related contacts. Reverse-circulation (RC) sampling was
conducted in 1m intervals downhole selected by the logging
geologist based on visual observations of the RC chips.
Sampling was carried out according to Evolution protocols and
QAQC procedures. All drill-hole collars were surveyed for initial
drilling using a handheld GPS, and later surveyed using a
differential GPS.
•
The sampling and assaying methods are appropriate for the
epithermal style mineralised system targeted and are
representative for the mineralisation style. The sampling and
assaying suitability was validated using Evolution’s QAQC
protocol and no instruments or tools requiring calibration were
used as part of the sampling process.
•
Diamond drill-core sample intervals were based on geology to
ensure a representative sample, with lengths ranging from 0.3m
to 1m. Surface diamond drilling was half core sampled.
•
RC chip samples were taken from 1m intervals as splits from
the bulk sample using a static cone splitter attached to the rig
beneath the cyclone and sample collection box. Metre marks on
the drill mast were used to ensure that samples taken represent
the downhole metre. Drill crews emptied the sample collection
box onto the splitter only when instructed by the driller at 1m
intervals. The cyclone and cone splitter were routinely cleaned
between drill rods and drill holes to maintain sample hygiene.
Wet or moist samples are recorded in the database. If significant
groundwater was encountered in a drill hole, and samples were
unable to be kept dry, the RC hole was stopped and drilled
diamond.
•
All diamond core and RC chip samples were dried, crushed and
pulverised (total preparation) to produce a 50g charge for fire
assay of Au. Ag,As,Bi, Cd, Cu,Fe,Pb, S, Sb andZn were also

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Crush Creek JV Section 1 Sampling Techniques and Data Crush Creek JV Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
assayed in addition to Au assays using an aqua-regia digest
with ICP/AES finish. A suite of additional multi elements are
determined using four-acid digest with ICP/MS and/or an
ICP/AES finish for some selected intervals for pathfinder and
lithostratigraphic use.
Drilling techniques •Drill type (eg core, reverse circulation,
open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc.) and details
(e.g. core diameter, triple or standard
tube, depth of diamond tails, face-
sampling bit or other type, whether core
is oriented and if so, by what method,
etc.).		 •
Diamond holes from surface were wireline PQ (85mm
diameter), HQ (63.5mm diameter) and some NQ (45.1mm
diameter) holes.
•
All diamond core from surface core was orientated using the
digital Reflex Act lll bottom of hole orientation tool.
•
RC holes were drilled using an air fired RC hammer (139.1mm
diameter) with samples returning to surface inside an inner tube.
Drill sample recovery •Method of recording and assessing
core and chip sample recoveries and
results assessed.
•Measures taken to maximise sample
recovery and ensure representative
nature of the samples.
•
Whether
a
relationship
exists
between sample recovery and grade
and whether sample bias may have
occurred due to preferential loss/gain of
fine/coarse material.		 •
All diamond core was orientated and measured during
processing and the recovery of individual core runs recorded.
The core was reconstructed into continuous runs on a cradle for
orientation marking. Hole depths were checked against driller’s
core blocks.
•
Inconsistencies between the logging and the driller’s depth
measurement
blocks
are
investigated.
Surface
drilling
recoveries were generally excellent.
•
Measures taken to maximise sample recovery during diamond
drilling include using triple tube methodology, instructions to
drillers to slow down drilling rates during key parts of drill holes
or reducing the core run length in less competent ground.
•
Measures taken to maximise sample recovery during RC drilling
include ensuring the sample box was cleared metre by metre
using marks on the drill mast, ensuring the splitter was level,
cleaning out sample chutes routinely and weighing (1:20) of
bulk, primary and duplicate samples. When required sampling
chutes on the splitter were adjusted to maintain a consistent
representative sample. If water was encountered during RC
drilling, samples that were affected were recorded in the
database. If the amount of water became unmanageable the
holewas stopped and drilledwithdiamond.
Logging •Whether core and chip samples have
been geologically and geotechnically
logged to a level of detail to support
appropriate
Mineral
Resource
estimation,
mining
studies
and
metallurgical studies.
•Whether logging is qualitative or
quantitative in nature. Core (or costean,
channel etc.) photography.
The total length and percentage of the
relevant intersections logged.		 •
Diamond core and RC chips have been geologically logged to
the level of detail required for a Mineral Resource estimation.
RQD measurements are taken from diamond core to allow
preliminary understanding of recovery, rock competency and
fracture frequency. Geotechnical logging was undertaken for
select drill holes on site by geologists.
•
All logging is both qualitative and quantitative in nature
recording features such as structural data, sample recovery,
lithology, mineralogy, alteration, mineralisation types, vein
density/type, oxidation state, weathering, colour etc. All holes
are photographed wet. Structural measurements are taken from
core using a Kenometer instrument.
•
All diamond and RC holes were logged in entirety from collar to
end of hole. Drill logs are loaded directly into the acQuire
database by the geologist.
Sub-sampling
techniques and
sample preparation		 •If core, whether cut or sawn and
whether quarter, half or all core taken.
•If non-core, whether riffled, tube
sampled, rotary split, etc and whether
sampled wet or dry.
•For all sample types, the nature,
quality and appropriateness of the
sample preparation technique.
•Quality control procedures adopted
for all sub-sampling stages to maximise
representivity of samples.		 •
Diamond core drilled from surface was half core sampled and
the remaining half was retained.
•
RC samples were taken as primary splits of bulk samples using
a static cone splitter with adjustable sample chutes, attached to
the RC cyclone beneath the sample collection box. 1:20 bulk,
primary and duplicate splits were weighed to ensure the primary
sample split consistently represented the interval downhole –
targeting
3kg
primary
and
duplicate
samples.
Major
discrepancies in sample weights were immediately brought to
the attention of drill crews, with chutes adjusted or cleared to
restore non-bias sample weights.
•
Sample preparation of diamond and RC samples was
undertaken by external laboratories according to the sample
preparation and assaying protocol established to maximise the
representationof low-sulfidationepithermalstyleAu-Ag

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Crush Creek JV Section 1 Sampling Techniques and Data Crush Creek JV Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
•Measures taken to ensure that the
sampling is representative of the in situ
material
collected,
including
for
instance
results
for
field
duplicate/second-half sampling.
•
Whether
sample
sizes
are
appropriate to the grain size of the
material being sampled.		 mineralisation. The laboratories performance was monitored as
part of Evolution’s QAQC procedure. Laboratory inspections
are routinely undertaken to monitor the laboratories compliance
sampling and sample preparation protocol.
•
The sample and size (1.5kg to 4kg) relative to the particle size
(>90% passing 75um) of the material sampled is a commonly
utilised practice for effective sample representation for
epithermal gold deposits.
•
Quality control procedures adopted to maximise sample
representation for all sub-sampling stages include the collection
of field and laboratory duplicates and the insertion of certified
reference material as assay standards (1 in 20) and the
insertion of blank samples (1 in 20) or at the geologist’s
discretion. Blank material is routinely submitted for assay and is
inserted into each mineralised zone where possible. The quality
control performance was monitored as part of Evolution’s
QAQC procedure.
•
The sample preparation has been conducted by commercial
laboratories. All samples are oven dried (between 85°C and
105°C), jaw crushed to nominal <3mm and if required split by a
riffle splitter device to a maximum sample weight of 3kg as
required. The primary sample is then pulverised in a one stage
process, using a LM5 pulveriser, to a particle size of >90%
passing 75um. Approximately 200g of the primary sample is
extracted by spatula to a numbered paper pulp bag that is used
for a 50g fire assay charge. The pulp and bulk residue are
retained at the lab until further notice.
•
Duplicate samples for diamond core are collected during the
sample crushing stage. A comparison of the duplicate sample
vs. the primary sample assay result was undertaken as part of
Evolution’s QAQC protocol. It is considered that all sub-
sampling and lab preparations are consistent with other
laboratories in Australia and are satisfactory for the intended
purpose.
•
The sample sizes are considered appropriate and in line with
industry standards.
Quality of assay data
and laboratory tests		 •
The
nature,
quality
and
appropriateness of the assaying and
laboratory
procedures
used
and
whether the technique is considered
partial or total.
•For geophysical tools, spectrometers,
handheld XRF instruments etc. the
parameters used in determining the
analysis including instrument make and
model, reading times, calibrations
factors applied and their derivation, etc.
•Nature of quality control procedures
adopted
(eg
standards,
blanks,
duplicates, external laboratory checks)
and whether acceptable levels of
accuracy (i.e. lack of bias) and
precision have been established.		 •
The sampling preparation and assaying protocol used at the
Crush Creek JV was developed to ensure the quality and
suitability of the assaying and laboratory procedures relative to
the mineralisation types targeted.
•
Fire assay is designed to measure the total gold within a
sample. Fire assay has been confirmed as a suitable technique
for epithermal type Au - Ag mineralisation. It has been
extensively used throughout the Crush Creek region.
•
The technique utilised a 50g sample charge with a lead flux,
which is decomposed in a furnace with the prill being totally
digested by 2 acids (HCI and HN03) before the gold content is
determined by an AAS machine. Some samples gold content
was determined using OES instead of AAS with the same
detection limit reported. When higher grades (>20 g/t Au) were
reported by the AAS machine at Delta and BV7, the quantity of
gold in sample is then automatically determined using
gravimetric methods.
•
No geophysical tools or other remote sensing instruments were
utilised for reporting or interpretation of gold mineralisation.
•
Quality control samples were routinely inserted into the
sampling sequence and were also inserted either inside or
around the expected zones of mineralisation. The intent of the
procedure for reviewing the performance of certified standard
reference material is to examine for any erroneous results (a
result outside of the expected statistically derived tolerance
limits) and to validate if required; the acceptable levels of
accuracy and precision for all stages of the sampling and
analytical process. Batches which fail quality control checks are
re-analysed. In addition, the laboratory is instructed to place
barren quartz flushes in the sample sequence in areas of
anticipatedmineralisation.Quartz flushes areroutinely

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Crush Creek JV Section 1 Sampling Techniques and Data Crush Creek JV Section 1 Sampling Techniques and Data Crush Creek JV Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
analysed and any detected gold in the flushes are reported to
thelab andif necessary, the batch re-assayed.
Verification of
sampling and
assaying		 •
The
verification
of
significant
intersections by either independent or
alternative company personnel.
•The use of twinned holes.
•Documentation of primary data, data
entry procedures, data verification and
data storage (physical and electronic)
protocols.
•Discuss any adjustment to assay data		 •
Independent internal or external verification of significant
intercepts is completed on a campaign basis at independent
certified laboratories. This campaign has started at Crush Creek
with verification samples sent to an Umpire lab however results
are still be fully received and analysed. The quality control /
quality assurance (QAQC) process ensures the intercepts are
representative for epithermal gold systems. Half core and
sample pulps are retained for when further verification is
required.
•
All sample and assay information is stored utilising the acQuire
database software system. Data undergoes QAQC validation
prior to being accepted and as a priority 1 assay in the database.
Assay results are merged when received electronically from the
laboratory. The geologist reviews the database checking for the
correct merging of results and that all data has been received
and entered.
•
No adjustments or calibrations have been made to the final
assay datareported by thelaboratory.
Location of data
points		 •Accuracy and quality of surveys used
to locate drillholes (collar and downhole
surveys), trenches, mine workings and
other
locations
used
in
Mineral
Resource estimation.
•Specification of the grid system used.
•Quality and adequacy of topographic
control.		 •
All surface drill holes at Crush Creek have been surveyed for
easting, northing and reduced level. Recent data is collected
and stored in MGA 94 Zone 55.
•
Topographic control was generated from aerial DTM surveys
and from previous drilling data sets.
Data spacing and
distribution		 •Data spacing for reporting of
Exploration Results.
•Whether the data spacing and
distribution is sufficient to establish the
degree
of
geological
and
grade
continuity appropriate for the Mineral
Resource and Ore Reserve estimation
procedure(s)
and
classifications
applied.
•Whether sample compositing has
been applied.		 •
The nominal drill spacing for Exploration drilling is 40m x 40m
or wider. This spacing includes data that has been verified from
previous exploration activities on the project.
•
Data spacing and distribution is being designed to collect
enough data for establishing geological continuity and grade
variability appropriate for classifying an Inferred Mineral
Resource in some parts of BV7 and Delta, as well as explore
along the strike of key mineralised structures for further
mineralised zones.
•
Sample compositing was not applied due to the often-narrow
mineralised zones.
Orientation of data in
relation to geological
structure		 •Whether the orientation of sampling
achieves
unbiased
sampling
of
possible structures and the extent to
which this is known, considering the
deposit type.
•If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to
have introduced a sampling bias, this
should be assessed and reported if
material.		 •
Mineralisation in the Delta area is interpreted to be hosted within
NNW-SSE striking veins that pre-dominantly dip steeply to the
west, but also other orientations. These veins are interpreted to
occur within east dipping mineralised envelopes. Surface
drilling has been designed to intersect the mineralisation at an
angle to minimise bias. Some drilling has been designed to test
for multiple orientations in the mineralised domains that could
occur given the early stage of exploration and understanding of
the geology.
•
Mineralisation at BV7 is hosted within a series of NNW-SSE
striking structures that dip pre-dominantly to the SW. There is
one main mineralised zone, with accessory lodes in the
hanging-wall and foot-wall to this main zone. Within these
structures, gold is interpreted to be hosted in veins that are
mainly orientated sub-parallel to these structures with some
vein sets conjugate to the main trend. Evolution’s drilling has
been designed to test this main orientation by drilling west to
east. Some east to west historic drilling does not drill an optimal
angle to the mineralised structures.
•
Gamma is an early stage exploration target. There is not
enough geologic information to determine the exact orientation
of mineralised structures at this point in time. Mineralisation at
Gamma is associated with illite alteration and pyrite
development at the base ofaflow-bandedrhyolite dome.

Evolution Mining Limited Quarterly Report September 2020

50

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Crush Creek JV Section 1 Sampling Techniques and Data Crush Creek JV Section 1 Sampling Techniques and Data Crush Creek JV Section 1 Sampling Techniques and Data
Criteria Explanation Commentary
•
Mineralisation at The Kink is interpreted to be associated with a
N-S orientated structure that dips moderately to the west.
Mineralisation has developed in volcaniclastic rocks as veins
and vein stock-work on the structure.
•
The relationship between the drilling orientation and the
orientation of mineralised structures at Crush Creek is not
considered to have introduced a sampling bias to Evolution
drilling and is not considered to be material. Estimated True
Width’s (ETW) of mineralised intersections are shown in the Drill
HoleInformationSummary table.
Sample security •The measures taken to ensure
sample security.		 •
Chain of custody protocols to ensure the security of samples are
followed. Prior to submission samples are retained on site
where access to the samples is restricted. Samples are then
dropped off and loaded onto a freight truck in secured bags the
morning of dispatch. Collected samples are then received at the
respective
commercial
laboratories
in
Townsville.
The
laboratories are contained within a secured/fenced compound.
Access into the laboratory is restricted and movements of
personnel and the samples are tracked under supervision of the
laboratory staff.
Audits or reviews •The results of any audits or reviews
of sampling techniques and data.		 •
No internal or external audits or reviews have been conducted
on the sampling techniques for the Crush Creek projects to
date. Laboratory audits have been conducted on the respective
commercial laboratories in Townsville.

Crush Creek JV Section 2 Reporting of Exploration Results

Crush Creek JV Section 2 Reporting of Exploration Results Crush Creek JV Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
Mineral tenement and
land tenure status		 •
Type,
reference
name/number,
location
and
ownership
including
agreements or material issues with third
parties
such
as
joint
ventures,
partnerships,
overriding
royalties,
native title interests, historical sites,
wilderness
or
national
park
and
environmental settings.
•The security of the tenure held at the
time of reporting along with any known
impediments to obtaining a licence to
operate in the area.		 •
MDL2010 (the Mineral Development License) hosts the Delta,
BV7, Delta South and Gamma prospects where the drilling in
this report has taken place. MDL2010 is located 10km NNE of
the town of Collinsville, approximately 70 km SW of Bowen.
This License is wholly owned by Basin Gold Pty Ltd. but
operated by Conquest Mining Pty Ltd. (a wholly owned
subsidiary of Evolution Mining Ltd.) under an earn-in joint-
venture agreement signed in September 2019. Evolution
Mining Ltd. has all the required operational, environmental and
heritage permits/approvals for the work conducted on the
Mineral Development License under the joint venture. There
are not any other known significant factors or risks that may
affect access, title, or the right or ability to perform further work
programs on the Mineral Development License.
Exploration done by
other parties		 •Acknowledgment and appraisal of
exploration by other parties.		 •
Exploration for gold has been carried out by several parties
over MDL2010 areas. These companies include Australian Oil
and Minerals Ltd. (AOM) and CRA Exploration Pty Ltd. (CRAE)
both independently and in JV (1987 to 1991), Basin Gold Pty
Ltd. (BG) (1994-1996), BG in JV operated by Battle Mountain
Australia (BMA) (1996-1998), Resolute Limited (1998 – 2000),
Goldfields Australasia Pty Ltd (GFA) (2000-2002), GFA in JV
with Conquest Mining Ltd (CQT) (2002 – 2005), CQT in JV with
BG (2005-2007) and then back to 100% BG ownership from
2007 onwards. Evolution Mining Ltd., under its wholly owned
subsidiary Conquest Mining Ltd, signed a JV agreement in
September 2019 with exploration activities beginning in
November 2019.
•
The BV7 mineralised zones were discovered in 1988 under the
JV between AOM and CRAE with RC drilling following up
anomalous streamsediment androckchip geochemistry.

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Crush Creek JV Section 2 Reporting of Exploration Results Crush Creek JV Section 2 Reporting of Exploration Results Crush Creek JV Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
•
The Delta mineralised zone was discovered by Basin Gold from
2011 to 2015 through geological mapping and percussion
drilling over a rhyolite dome 750m south of BV7.
•
Previous exploration activities include stream sediment
sampling, soil sampling, geological mapping, geophysical
surveys, RC drilling, diamond drilling and open-hole percussion
drilling.
Geology •Deposit type, geological setting and
style of mineralisation.		 •
Crush Creek mineralisation is located within the apex of Bowen
basin volcanic stratigraphy which is also host to epithermal Au-
Ag-Cu
mineralisation
at
the
nearby
high-sulphidation
epithermal deposits at Mt. Carlton, located ~30km NW of the
Crush Creek JV Mineral Development License.
•
Local geology at Crush Creek comprises the late Carboniferous
to early Permian Lizzie Creek Volcanics, consisting locally of
andesitic and felsic derived volcaniclastic units intruded by a
series of rhyolitic domes. Mineralisation at Delta is hosted along
extensional structures in primary volcaniclastic breccias and
sediments. Primary volcanic breccias are overprinted by a low-
sulphidation Au-Ag epithermal event. Bonanza mineralisation
at Delta is hosted by late narrow quartz-sulphide veins
associated with this epithermal event. Mineralisation at BV7 is
interpreted to be the same age as at Delta but is hosted on
extensional structures developed within coherent felsic rocks.
Mineralisation is associated with quartz vein development on
these structures.
Drill hole Information •A summary of all information material
to the understanding of the exploration
results including a tabulation of the
following information for all Material
drillholes:
o easting and northing of the drillhole
collar
o elevation or RL of the drillhole collar
o dip and azimuth of the hole
o downhole length and interception
depth
o hole length.		 •
Refer to the drill hole information table in the Appendix of this
report for significant assay results from Evolutions drilling to
date at Delta. All mineralised intercepts from the quarter (Q1
FY21) above 5 gram*metre (grade x down-hole width) are
shown in the table.
•
Previous mineralised intercepts and drilling at Delta are not
shown on plans and sections in the body of this report, or in the
significant intercept table. This drilling was generally vertical
with no down-hole surveys, drilled with predominantly open-
hole methods and QAQC procedures outside of Evolution’s
protocols. Open-hole drilling can cause contamination in drill
samples, particularly in a narrow high-grade gold environment.
•
Previous mineralised intersections and historic drill traces are
shown for the BV7 long and cross sections. Actual assay
numbers and intercepts are not shown as not all information
relating to the assay type and QAQC protocols used can be
ascertained – however this data has been used to help guide
Evolutions exploration program. Drilling is displayed where data
from previous drilling appears valid using collar locations,
downhole surveys, geology from re-logged diamond holes and
mineralised intercepts. Some BV7 drilling is not shown as
interrogation of these data-sets showed the location of this
drilling is not able to be validated.
•
There have been a number of previous operators who have
drilled at the Delta and BV7 prospects. The map below shows
Evolution drill collars in relation to previous operators drill
collars.

Evolution Mining Limited Quarterly Report September 2020

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Crush Creek JV Section 2 Reporting of Exploration Results Crush Creek JV Section 2 Reporting of Exploration Results Crush Creek JV Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
Evolution and historic operators drilling in the BV7/Delta area.
Data aggregation
methods		 •In reporting Exploration Results,
weighting
averaging
techniques,
maximum
and/or
minimum
grade
truncations (e.g. cutting of high grades)
and cut-off grades are usually material
and should be stated.
•
Where
aggregate
intercepts
incorporate short lengths of high grade
results and longer lengths of low grade
results, the procedure used for such
aggregation should be stated and some
typical examples of such aggregations
should be shown in detail.
•The assumptions used for any
reporting of metal equivalent values
should be clearly stated.		 •
Intercept length weighted average techniques, minimum grade
truncations and cut-off grades have been used in this report.
•
Composite lengths and grade as well as internal significant
values are reported in the Drill Hole Information Summary in the
Appendix.
•
At Crush Creek, composite grades >0.5 g/t Au have been
reported with no more than 2m of internal dilution (<0.5g/t Au).
•
No metal equivalent values are used.
Relationship between
mineralisation widths
and intercept lengths
•These relationships are particularly
important in the reporting of Exploration
Results.
•If the geometry of the mineralisation
with respect to the drill hole angle is
known, its nature should be reported.
•If it is not known and only the
downhole lengths are reported, there
should be a clear statement to this
effect (eg ‘downhole length, true width
not known’)
•
There is a direct relationship between the mineralisation widths
and intercept widths at Delta. Drilling has been conducted at
multiple angles at Delta as mineralised structures are
interpreted to dip at multiple angles and due to the early stage
nature and understanding of the geology.
•
There is a direct relationship between the mineralisation widths
and intercept widths at BV7. Drilling has been conducted west
to east to intersect SE dipping structures at an optimal angle.
•
Gamma and The Kink are early-stage exploration targets with
only an early stage understanding of structural orientations
hosting mineralised intervals. Estimated True Widths are
supplied wherever possible.
•
The assay results are reported as down hole intervals however
an estimate of true width is provided in the Drill Hole Information
Summary in the Appendix.

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Crush Creek JV Section 2 Reporting of Exploration Results

Crush Creek JV Section 2 Reporting of Exploration Results Crush Creek JV Section 2 Reporting of Exploration Results Crush Creek JV Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
Diagrams •Appropriate maps and sections (with
scales) and tabulations of intercepts
should be included for any significant
discovery being reported. These should
include, but not be limited to a plan view
of drill hole		 •
Drill hole location diagrams and representative sections of
reported Crush Creek exploration results are provided in the
announcement text and below:
BV7 Prospect Plan Section with the main mineralised
zone. Long section line from Figure 1 is shown as yellow
along with cross section lines as white for below.
BV7 Cross Section A – A’
BV7 Cross Section B – B’

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Crush Creek JV Section 2 Reporting of Exploration Results

Criteria Explanation Commentary BV7 Cross Section C – C’ Plan view of drilling at BV7, The Kink, Delta, Delta South and Gamma for the quarter.

==> picture [246 x 141] intentionally omitted <==

Cross section looking north at the Gamma prospect

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Crush Creek JV Section 2 Reporting of Exploration Results Crush Creek JV Section 2 Reporting of Exploration Results Crush Creek JV Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
Cross section looking north at The Kink prospect
Balanced reporting
•Where comprehensive reporting of all
Exploration Results is not practicable,
representative reporting of both low and
high grades and/or widths should be
practiced to avoid misleading reporting
of Exploration Results
•
All Exploration results have been reported in the Drill Hole
Information Summary in the Appendix of this report.
Other substantive
exploration data		 •Other exploration data, if meaningful
and material, should be reported
including (but not limited to): geological
observations;
geophysical
survey
results; geochemical survey results;
bulk samples – size and method of
treatment; metallurgical test results;
bulk density, groundwater, geotechnical
and
rock
characteristics;
potential
deleterious
or
contaminating
substances.		 •
Exploration is on-going at the Crush Creek JV. Other works
include more drilling, field mapping, soil sampling and
geophysical surveys in the region.
Further work
•The nature and scale of planned
further work (eg tests for lateral
extensions or depth extensions or
largescale step-out drilling).
•Diagrams clearly highlighting the
areas of possible extensions, including
the main geological interpretations and
future drilling areas, provided this
information
is
not
commercially
sensitive.
•
Further Exploration work on the Crush Creek JV tenements are
planned into FY21. This work includes diamond drilling, RC
drilling, geological mapping, soil sampling and geophysical
surveys.
•
Drilling is ongoing at the BV7 prospect.
•
Follow up drilling is planned at the The Kink and Gamma
prospects.

Evolution Mining Limited Quarterly Report September 2020

56

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