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EVOLUTION MINING LIMITED Interim / Quarterly Report 2020

Jul 22, 2020

64885_rns_2020-07-22_b18a3138-9f79-4b28-aaf0-36e069190570.pdf

Interim / Quarterly Report

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QUARTERLY REPORT – For the period ending 30 June 2020

HIGHLIGHTS

June 2020 quarter highlights

  • Record operating cash flow (A$352M), net mine cash flow (A$225M) and free cash flow (A$188M)

  • ▪ Cowal Maiden Underground Ore Reserve of 804koz supports accelerated Stage 1 mine development ▪ Red Lake transformation progressing ahead of schedule

  • Group gold production increased to 218,104 ounces at an All-in Sustaining Cost (AISC)[1] of A$1,088 per ounce (US$715/oz)[2] . Comprising of:

  • 190,676 ounces at an AISC of A$956 per ounce from Australian operations

  • 27,428 ounces at an AISC of A$1,943 per ounce from Red Lake

FY20 summary

Sector leading cash generation

  • Mine operating cash flow increased 45% year-on-year (YoY) to a record A$1,121 million

  • Net mine cash flow increased 48% YoY to a record A$736 million

  • Group free cash flow increased 86% YoY to a record A$542 million

Consistent operational delivery

  • TRIF[3] reduced by 18% YoY to 6.8 (30 June 2019: 8.3)

  • COVID-19 well managed with no material impact to operations

  • Group gold production of 746,463 ounces at an AISC of A$1,043 per ounce (US$700/oz)[2] . Comprising of: o 719,035 ounces at an AISC of A$1,008 per ounce from Australian operations o 27,428 ounces at an AISC of A$1,943 per ounce from Red Lake

Executing portfolio upgrade strategy

  • Acquisition of high-grade, long-life Red Lake gold mine in Ontario, Canada

  • Cowal Maiden Underground Ore Reserve of 804koz and Mineral Resource expansion to 2.9Moz

  • Divestment of short life Cracow Gold Mine in Queensland

  • Exploration success at Cowal, Red Lake, Mungari and Crush Creek

  • Group average reserve life of over 10 years

FY21 guidance and three-year outlook will be provided with the release of the FY20 Financial Results

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

Consolidated production and sales summary

Units Sep Qtr
2019		 Dec Qtr
2019		 Mar Qtr
2020		 Jun Qtr
FY20		 FY20
YTD
Gold produced oz 191,967 170,890 165,502 218,104 746,463
By-product Silverproduced oz 182,948 137,262 118,224 233,252 671,687
By-product Copperproduced t 5,382 5,572 4,832 6,684 22,471
C1 Cash Cost A$/oz 741 778 767 761 761
All-In Sustaining Cost1 A$/oz 1,018 1,069 991 1,088 1,043
All-In Cost4 A$/oz 1,330 1,584 1,584 1,562 1,509
Gold sold oz 205,188 173,408 167,374 218,685 764,655
Achieved gold price A$/oz 2,111 2,091 2,366 2,500 2,274
Silversold oz 175,128 144,757 118,472 218,239 656,596
Achieved silverprice A$/oz 25 24 27 24 25
Coppersold t 5,370 5,612 4,801 6,585 22,369
Achieved copperprice A$/t 8,476 8,802 8,174 8,192 8,409

  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 0.6571 for the June 2020 quarter and 0.6714 for FY20

  3. TRIF: Total recordable injury frequency. The frequency of total recordable injuries per million hours worked

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

Evolution Mining Limited Quarterly Report June 2020

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OVERVIEW

Evolution achieved a significant improvement in safety performance during FY20 with Group Total Recordable Injury Frequency (TRIF) declining by 18% to 6.8 at 30 June 2020 (30 June 2019: 8.3). This improvement is more significant given the TRIF was 9.3 at the end of September 2019. A Safety Stop was enacted across all of Evolution’s sites during the quarter to bring renewed focus to our safety performance throughout the entire business. Pleasingly there were zero recordable injuries in the month of June 2020.

COVID-19 continues to be proactively managed with no material impact to operations. Annual Sustainability audits were conducted in the June quarter at each operating and exploration site resulting in no material adverse findings.

As outlined in today’s ASX release entitled “Cowal Maiden Underground Ore Reserve Supports Mine Development,” Cowal declared a Maiden Underground Ore Reserve of 9.96Mt grading 2.51g/t Au for 804koz and Mineral Resources of 36.51Mt grading 2.48g/t Au for 2.9Moz – an increase of 410koz. An application for regulatory approval is expected to be submitted early in the December 2020 quarter and feasibility work is being completed in parallel to allow accelerated mine development.

Red Lake performed better than plan in its first quarter under Evolution ownership, producing 27,428oz at an AISC of A$1,943/oz. This beat guidance of around 25,000oz at A$2,100 – A$2,300 per ounce. A workforce restructure took place in June, reducing the number of full-time employees by 114 to 740 people. Underground development rates continue to ramp up with 1,036 metres achieved in the month of June 2020. Evolution’s transformation plan is ahead of expectations to restore production to above 200,000 ounces per annum at an AISC of less than US$1,000 per ounce.

Group gold production for the June 2020 quarter was 218,104 ounces (Mar qtr: 165,502oz) at an AISC of A$1,088/oz (Mar qtr: A$991/oz) which includes the higher cost ounces at Red Lake. Using the average AUD:USD exchange rate for the quarter of 0.6571, Group AISC equated to US$715/oz which places Evolution at the bottom of the cost curve amongst major and mid-tier global gold producers.

As at 30 June 2020, Evolution had cash in the bank of A$373.6 million and bank debt of A$570.0 million. This is an increase in cash of $204.7 million for the quarter.

Evolution delivered record mine operating cash flow and net mine cash flow of A$352 million and A$224 million respectively (Dec qtr: A$257M; A$160M).

Mine capital investment for the quarter was A$112 million (Mar qtr: A$98M).

Standout operational performances for the quarter:

  • Cowal produced 60,594oz at an AISC of A$941/oz generating net mine cash flow of A$59.3 million

  • Ernest Henry produced 28,183oz at an AISC of A$(617)/oz generating record net mine cash flow of A$68.3 million

  • Mungari produced 37,178oz at an AISC of A$1,089/oz generating record net mine cash flow of A$39.8 million

  • Mt Rawdon produced 25,982oz at an AISC of A$1,305/oz generating record net mine cash flow of A$32.3 million

Drilling at Red Lake’s Cochenour deposit returned strong results with the best extensional hole intersecting 6.09m (4.67m etw) grading 18.86 g/t Au along strike of the Gold Eagle Corridor. The best resource definition hole at Cochenour intersected 4.64m (4.01m etw) grading 22.10g/t Au.

Several significant intersections at the Cowal Underground continued to provide robust infill results including: 94m (75.2m etw) grading 5.0g/t Au and 33m (26.4m etw) grading 19.0g/t Au.

Infill drilling at Mungari’s Boomer deposit confirmed geological and grade continuity of the narrow folded laminated vein in a small area where it is well developed. Best intersections returned during the quarter included 0.79m (0.67m etw) grading 133.8g/t Au and 0.40m (0.33m etw) grading 98.6g/t Au.

On 4 June 2020 Evolution announced an agreement to divest the Cracow gold mine to Aeris Resources Limited (ASX:AIS) for a total consideration of up to A$125 million. The consideration consists of A$60 million cash which was received on completion, A$15 million cash to be received on 30 June 2022, and up to A$50 million contingent consideration. The sale was successfully completed on 1 July 2020.

FY20 Group production from Australian operations was 719,035 ounces at an AISC of A$1,008 per ounce. This was in line with the revised guidance issued on 19 June 2020 of 715,000 at an AISC of A$990 per ounce before the impact of the higher gold price and lower copper price.

FY20 mine operating cash flow and net mine cash flow was a record A$1,121 million and A$736 million respectively.

FY21 guidance and a three-year outlook for Group production, AISC and capital will be provided with the release of Evolution’s FY20 Financial Results on 13 August 2020.

Evolution Mining Limited Quarterly Report June 2020

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OVERVIEW

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Group safety performance (TRIF)
9.3
8.4
7.2
6.8
FY20 Q1 FY20 Q2 FY20 Q3 FY20 Q4
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Group production (koz)

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218.1
192.0
170.9 165.5
FY20 Q1 FY20 Q2 FY20 Q3 FY20 Q4
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Group AISC (A$ per ounce)

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1,018 1,069 991 1,088
FY20 Q1 FY20 Q2 FY20 Q3 FY20 Q4
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Group operating mine cash flow (A$M)

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352.1
278.7
257.4
233.1
FY20 Q1 FY20 Q2 FY20 Q3 FY20 Q4
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TRIF: Total recordable injury frequency. The frequency of total recordable injuries per million hours worked. Results above are based on a 12-month moving average

Evolution Mining Limited Quarterly Report June 2020

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OVERVIEW

June 2020 quarter production and cost summary[1]

June 2020
**quarter **		 June 2020
**quarter **		 Units Cowal Mungari Mt
**Carlton **		 Mt
**Rawdon **		 Cracow Ernest
Henry		 Red
Lake		 Group
UGlat dev -capital m 0 219 142 0 489 514 2,136 3,499
UGlat dev -operating m 0 176 537 0 580 1,472 787 3,551
Total UG lateral
development		 m 0 395 679 0 1,068 1,986 2,922 7,050
UG ore mined kt 0 143 31 0 125 1792 131 2,220
UG grademined g/t 0 4.19 3.83 0 6.24 0.61 7.97 1.63
OPcapital waste kt 2,953 1,747 528 32 0 0 0 5,260
OPoperatingwaste kt 0 144 1,106 1,256 0 0 0 2,505
OP ore mined kt 587 471 195 1,483 0 0 0 2,736
OPgrademined g/t 1.01 1.99 2.62 0.83 0 0 0 1.19
Totaloremined kt 587 614 226 1,483 125 1,792 131 4,957
Totaltonnes processed kt 2,073 430 232 829 139 2,037 124 5,864
Gradeprocessed g/t 1.09 2.93 3.22 1.09 5.73 0.60 8.12 1.40
Recovery % 83.2 91.8 81.4 89.2 92.8 71.2 93.7 82.6
Gold produced4 oz 60,594 37,178 14,991 25,982 23,747 28,183 27,428 218,104
Silver produced oz 54,531 3,153 115,957 23,853 12,611 20,857 2,291 233,252
Copper produced t 0 0 850 0 0 5,835 0 6,684
Gold sold oz 67,582 36,551 14,506 26,446 23,130 21,280 29,190 218,685
Achieved gold price A$/oz 2,470 2,460 2,388 2,596 2,359 2,591 2,631 2,500
Silver sold oz 54,531 3,153 100,944 23,853 12,611 20,857 2,291 218,239
Achieved silver price A$/oz 25 25 24 25 19 24 24 24
Copper sold t 0 0 751 0 0 5,835 0 6,585
Achieved copper price A$/t 0 0 8,056 0 0 8,210 0 8,192
Cost Summary
Mining A$/prod
oz		 117 494 952 565 429 472
979
Processing A$/prod
oz		 502 338 479 514 222 399
453
Administration and
sellingcosts		 A$/prod
oz		 134 97 446 117 142 187
248
Stockpile adjustments A$/prod
oz		 39 (140) (37) (223) 5 (55)
(105)
By-product credits A$/prod
oz		 (23) 24 (568) 76 (10) (1,717) 18 (253)
C1 Cash Cost A$/pro
d oz		 769 813 1,272 1,049 788 (775) 1,593 751
C1 Cash Cost A$/sold
oz		 689 892 1,314 1,030 809 (1,027) 1,497 759
Royalties A$/sold
oz		 78 64 231 135 119 266 0 105
Gold in Circuit and
other adjustments		 A$/sold
oz		 124 (13) (307) 60 (11) 35
97
Sustaining capital2 A$/sold
oz		 44 159 23 67 171 144 323 127
Reclamation and other
adjustments		 A$/sold
oz		 5 (13) 62 14 1 9
26
Administration costs3 A$/sold
oz		 52
All-in Sustaining Cost A$/sol
d oz		 941 1,089 1,324 1,305 1,090 (617) 1,943 1,088
Major project capital A$/sold
oz		 810 213 548 20 52 0 392 383
Discovery A$/sold
oz		 151 93 23 1 21 0 43 92
All-in Cost A$/sol
d oz		 1,902 1,395 1,895 1,326 1,163 (617) 2,378 1,562

  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

  2. Gold production at Red Lake is gold production Payable

Evolution Mining Limited Quarterly Report June 2020

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OVERVIEW

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FY20 production and cost summary[1]

FY20 YTD Units Cowal Mungari Mt
Carlton		 Mt
Rawdon		 Cracow Ernest
Henry		 Group
(ex Red
Lake)		 Red
Lake		 Group
UG lat dev - capital m 1,935 515 1,530 0 1,810 1,025 6,815 2,136 8,950
UG lat dev - operating m 0 964 1,024 0 2,429 6,702 11,120 787 11,906
Total UG lateral
development		 m 1,935 1,480 2,555 0 4,239 7,727 17,934 2,922 20,857
UG ore mined kt 0 473 54 0 484 7068 8,080 131 8,210
UG grade mined g/t 0 3.71 3.58 0 5.91 0.59 1.11 7.97 1.22
OP capital waste kt 14,000 1,752 3,776 2,251 0 0 21,779 0 21,779
OP operating waste kt 165 2,443 1,847 4,380 0 0 8,835 0 8,835
OP ore mined kt 2,817 1,852 733 4,323 0 0 9,726 0 9,726
OP grade mined g/t 1.17 1.97 3.04 0.72 0 0 1.27 0 1.27
Total ore mined kt 2,817 2,325 787 4,323 484 7,068 17,805 131 17,936
Total tonnes processed kt 8,486 1,841 894 3,312 527 7,045 22,106 124 22,230
Grade processed g/t 1.17 2.47 3.04 0.87 5.63 0.59 1.23 8.12 1.27
Recovery % 81.9 91.4 83.5 88.5 91.8 74.7 82.2 93.7 82.6
Goldproduced oz 262,035 133,388 58,962 82,004 87,744 94,902 719,035 27,428 746,463
Silver produced oz 178,380 12,281 276,284 90,495 40,700 71,255 669,396 2,291 671,687
Copper produced t 0 0 1,783 0 0 20,688 22,471 0 22,471
Gold sold oz 276,170 133,556 62,293 82,308 86,698 94,440 735,465 29,190 764,655
Achieved gold price A$/oz 2,224 2,224 2,354 2,343 2,249 2,286 2,259 2,631 2,274
Silver sold oz 178,380 12,281 261,194 90,495 40,700 71,255 654,305 2,291 656,596
Achieved silver price A$/oz 25 25 25 25 22 25 25 24 25
Copper sold t 0 0 1,681 0 0 20,688 22,369 0 22,369
Achieved copperprice A$/t 0 0 8,409 0 0 8,409 8,409 0 8,409
Cost Summary
Mining A$/prod oz 101 674 380 570 452 378 979 400
Processing A$/prod oz 478 348 567 561 241 410 453 412
Administration and
selling costs		 A$/prod oz 129 107 424 143 158 187 248 189
Stockpile adjustments A$/prod oz 123 (76) 36 43 (3) 38 (105) 33
By-product credits A$/prod oz (17) (2) (352) (28) (10) (1,852) (284) 18 (273)
C1 Cash Cost A$/prod oz 815 1,050 1,055 1,289 837 (743) 729 1,593 761
C1 Cash Cost A$/sold oz 773 1,049 999 1,285 847 (747) 713 1,497 743
Royalties A$/sold oz 68 56 191 117 120 197 104 0 100
Gold in Circuit and
otheradjustments		 A$/sold oz 46 (4) (36) 8 (6) 14 97 17
Sustaining capital2 A$/sold oz 41 100 259 121 233 119 114 323 122
Reclamation and other
adjustments		 A$/sold oz 6 15 41 16 9 11 26 12
Administration costs3 A$/sold oz 52 50
All-in Sustaining Cost A$/sold oz 933 1,215 1,453 1,546 1,203 (432) 1,008 1,943 1,043
Major project capital A$/sold oz 613 100 1,050 147 57 0 360 392 362
Discovery A$/sold oz 169 132 16 1 30 0 107 43 104
All-in Cost A$/sold oz 1,715 1,447 2,519 1,694 1,290 (432) 1,475 2,378 1,509
Depreciation &
Amortisation4		 A$/prod oz 335 408 1,004 549 457 1,328 574 411 570

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

  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. Group Depreciation and Amortisation includes non-cash Fair Value Unwind Amortisation of A$24/oz in relation to Cowal (A$34/oz) and Mungari ($68/oz) and Corporate Depreciation and Amortisation of A$1.96/oz

Evolution Mining Limited Quarterly Report June 2020

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OPERATIONS

Cowal, New South Wales (100%)

Cowal produced 60,594oz of gold at an AISC of A$941/oz (Mar qtr: 60,554/oz, AISC A$1,031/oz). Mine operating cash flow for the quarter was A$117.4 million (Mar qtr: A$89.0M). Net mine cash flow was A$59.3 million (Mar qtr: A$34.5M) post sustaining capital of A$3.3 million and major capital of A$54.8 million. Major projects investment included continuation of Stage H stripping, construction of the Integrated Waste Landform (IWL) tailings facility and the underground PreFeasibility Study (PFS).

Stockpiles continued to be processed during the quarter with processed grade partially upgraded through ore sorting. Gold recovery improved to 83.2% driven by increased efficiencies in the elution and regeneration circuits.

Total ore processed was 2.1Mt delivering a 7% increase for the full year to 8.5Mt. Improved throughput was a result of plant upgrades, strategic maintenance planning and improvements, and increased plant utilisation.

The successful completion of the dual water pipeline and increased dam capacity on site has significantly improved Cowal’s water security position. The identification of subsurface saline water sources is continuing with the objective of reducing reliance on fresh sources.

Cowal declared a Maiden Underground Ore Reserve of 804koz and an increased underground Mineral Resource to 2.9Moz. An application for regulatory approval of an underground mine development is expected to be submitted early in the December 2020 quarter. In parallel, a Feasibility Study focussing on detailed design and optimisation of capital and operating costs will be completed.

Full year mine operating cash flow was A$416.8 million. Net mine cashflow was A$235.6 million.

FY21 Cowal production is expected to be between 205,000 – 230,000 ounces due to the planned processing of lower grade stockpiles following depletion of medium grade stockpiles during FY20. This is part of the transition to Stage H ore which remains on schedule for the second half of FY21.

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1,031
941
885 898
FY20 Q1 FY20 Q2 FY20 Q3 FY20 Q4
Production gold (oz) AISC (A$/oz)
75,807oz 65,080oz 60,554oz 60,594oz
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Ernest Henry, Queensland

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

Evolution’s interest in Ernest Henry delivered 28,183oz of gold and 5,835t of copper at an AISC of negative A$(617)/oz (Mar qtr: 20,261oz Au and 4,470t Cu at A$(188)/oz).

Ore mined was 1,792kt at an average grade of 0.60g/t gold and 1.05% copper. Underground lateral development was 1,986m, which includes 1,472m of operating development, 514m of capital development and 228m of rehab development. Ore processed was 2,037kt at an average grade of 0.60g/t gold and 1.06% copper. Gold recovery of 71.2% and copper recovery of 93.5% was achieved with mill utilisation at 93.0%.

Operating cash costs (C1) was negative A$(775)/oz after accounting for copper and silver by-product credits (Mar qtr: A$(510)/oz). Cash operating costs (C1) included by-product credits of A$(1,717)/oz.

Copper sales in the quarter were 5,835t at an average copper price of A$8,210/t.

Operating mine cash flow for the quarter was A$71.3 million comprising gold sales (A$55.1 million) and by-product sales of copper (A$47.9 million) and silver (A$0.5 million), net of Evolution’s contribution to operating costs of A$32.2 million. Ernest Henry generated a net mine cash flow for Evolution of A$68.3 million, post sustaining capital of A$3.1 million.

Drilling below the 1200mRL continued to plan with development of the fourth platform commenced. The program will continue through to the end of the calendar year. As outlined in the March 2020 quarterly report, over 18,000m of drilling is planned for this calendar year.

  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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(188)
(414)
(526)
(617)
FY20 Q1 FY20 Q2 FY20 Q3 FY20 Q4
Production gold (oz) AISC (A$/oz)
23,378oz 23,080oz 20,261oz 28,183oz
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Evolution Mining Limited Quarterly Report June 2020

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OPERATIONS

Red Lake, Ontario (100%)

(Acquisition completed 31 March 2020)

Red Lake made good progress in the June quarter towards Evolution’s 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.

Red Lake produced 27,428oz of gold at an AISC of A$1,943/oz in its first quarter under Evolution ownership (Guidance: 25,000 ounces at an AISC of A$2,100 – A$2,300/oz).

Mine operating cash flow for the quarter was A$30.8 million. Sustaining capital of A$6.6 million and major capital of A$14.3 million resulted in mine cash flow of A$9.9 million prior to restructuring costs of A$12.8 million.

The underground mine produced ore feed of 131kt at an average grade of 8.0g/t gold. Ore was sourced from Upper and Lower Red Lake, Campbell and Cochenour. Underground development rates increased in each month to 1,036 metres in June (refer chart). This is materially better than the 850 – 900 metres per month guided in the March 2020 quarterly report. Increases have been achieved through the restructuring of roles and responsibilities, focusing on specific areas in close proximity to each other, and increasing the utilisation of the mining fleet. Underground development is planned to continue to increase to above 1,200 metres per month during the December 2020 half year.

Ore processed for the June quarter was 124kt at an average grade of 8.1g/t gold. This was split between the Campbell mill (63kt at 6.9g/t) and the Red Lake mill (61kt at 9.4g/t). The Campbell mill completed a major shut down during the quarter which focused on improving reliability. This was well ahead of the previously guided scheduled completion in the September quarter and since the shut down the plant has been operating at 98.4% availability. The Red Lake mill has ceased operating and will be used for campaign processing when excess ore is available.

  • Commenced a A$3 million capital investment project to automate Reid and Balmer hoists which is expected to save A$2 million per annum

  • Extensive work on building a new geology and resource model as a basis for releasing an updated Mineral Resource in the September 2020 quarter

  • Electrical work and dewatering changes commenced supporting the decommissioning of Campbell shaft

  • Removal of redundant buildings

  • Removal of ~48 semi-trailer loads of scrap steel as part of the effort to declutter and simplify the site

A discovery update is provided in the Exploration section of this report.

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Red Lake 2020 monthly underground
development metres
1,026 1,036
860
755
635
597
Jan Feb Mar Apr May Jun
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A restructure of the workforce took place during the quarter with a reduction of 114 full-time employees to a total workforce of around 740. This is down from a workforce of 911 which existed during the due diligence phase.

Other strategic, transformational milestones achieved in the June quarter include:

  • Decommissioned 42 pieces of underground mining equipment

Evolution Mining Limited Quarterly Report June 2020

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OPERATIONS

Mungari, Western Australia (100%)

Mungari achieved another strong quarter producing 37,178oz of gold at an AISC A$1,089/oz (Mar qtr: 32,721oz, AISC A$1,099/oz).

Mine operating cash flow for the quarter was a record A$53.1 million (Mar qtr: A$37.2M). Net mine cash flow was also a record A$39.8 million (Mar qtr: A$31.9M) post sustaining and major capital investment of A$13.3 million. This record cash flow reflects Mungari’s continued turnaround.

The strong cash margin was driven by higher grade underground ore and a higher gold price. The Frog’s Leg underground production lifted to 143kt at an increased grade of 4.19g/t gold (Mar qtr: 111kt at 3.62g/t gold). Total development of 395 metres was in line with the operating plan.

Development accessed the Boomer high grade vein during the quarter and a drill platform is being established for further grade control drilling.

Total open pit material movement was 2,372kt. Open pit ore mined was 471kt grading 1.99g/t gold. Ore was sourced from Stage 3a and 3b of the White Foil pit and Cutters Ridge contributed its first ore feed as the cut back transitioned through oxides.

Mt Rawdon, Queensland (100%)

Mt Rawdon delivered a significantly improved quarter with gold production increasing by 58% on the prior quarter to 25,982oz at an AISC of A$1,305/oz (Mar qtr: 16,434oz; A$1,357/oz).

Mine operating cash flow was A$34.6 million (Mar qtr: A$18.1M). Record net mine cash flow of A$32.3 million (Mar qtr: A$9.1M) was generated post sustaining and major capital investment of A$2.3 million.

Total material mined was in-line with plan as the western wall stabilisation project continued in the June quarter. As planned, access was regained to the higher-grade ore in south-western end of the pit after two quarters of predominantly processing low grade material.

A total of 829kt of ore was processed at an average grade of 1.09g/t gold (Mar qtr: 832kt at 0.86 g/t). Plant recovery was 89.2% and plant utilisation was 96.0%.

Full year mine operating cash flow was A$81.0 million. Net mine cash flow was A$59.0 million.

Plant throughput of 430kt was in line with plan. The average grade of processed ore was 2.93g/t gold. Capital works on the mill continued through the quarter with the plant now capable of achieving up to 2Mtpa.

Full year record mine operating and net mine cash flows of A$139.4 million and A$112.7 million respectively were achieved.

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1,351 1,344
1,099 1,089
FY20 Q1 FY20 Q2 FY20 Q3 FY20 Q4
Production gold (oz) AISC (A$/oz)
30,738oz 32,751oz 32,721oz 37,178oz
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1,748 1,815
1,357 1,305
FY20 Q1 FY20 Q2 FY20 Q3 FY20 Q4
Production gold (oz) AISC (A$/oz)
19,250oz 20,338oz 16,434oz 25,982oz
----- End of picture text -----

Evolution Mining Limited Quarterly Report June 2020

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OPERATIONS

Mt Carlton, Queensland (100%)

Mt Carlton produced 14,991oz of payable gold comprising of 13,471oz contained in 16,825 dry metric tonnes (dmt) of gold concentrate and 1,520oz in gold doré (Mar qtr: 13,306oz production; 11,672oz in concentrate; 1,634oz gold doré). AISC decreased to A$1,324/oz (Mar qtr: A$1,407/oz).

Mine operating cash flow was A$11.7 million (Mar qtr: A$20.1 million). Net mine cash flow was A$3.4 million post sustaining and major capital of A$8.2 million predominantly related to completion of the new underground mine development and capital development in the open pit.

On 19 June 2020, in the ASX release entitled “Mt Carlton Update” Evolution outlined the loss of ounces from the Life of Mine Plan and the adverse impact on FY20 production as a result of an update to the resource block model based on extensive drilling.

Cracow, Queensland (100%)

Cracow produced 23,747oz of gold at an AISC of A$1,090/oz (Mar qtr: 22,227oz, AISC A$1,150/oz).

Mine operating cash flow for the quarter was a record A$33.2 million (Mar qtr: A$31.7M). Net mine cash flow was also a record A$27.8 million (Mar qtr: A$27.6M), post sustaining capital of A$2.4 million and major capital of A$3.0 million.

On 4 June 2020 Evolution announced the agreement to divest Cracow for a consideration of up to A$125 million to Aeris Resources Limited (ASX:AIS). This is consistent with the Company’s strategic objective of upgrading the quality of its asset portfolio. The sale was successfully completed on 1 July 2020.

Mill throughput for the quarter totalled 211kt of ore at 3.22g/t gold (Mar qtr: 220kt at 2.81g/t gold). Recoveries averaged 81.4%.

Full year mine operating cash flow was A$74.6 million. Net mine cashflow was negative A$10.3 million largely as a result of the investment in the development of the underground mine.

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

2,182
1,301 1,417 1,325
FY20 Q1 FY20 Q2 FY20 Q3 FY20 Q4
Production gold (oz) AISC (A$/oz)
20,877oz 9,787oz 13,306oz 14,991oz
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1,307 1,284
1,150
1,090
FY20 Q1 FY20 Q2 FY20 Q3 FY20 Q4
Production gold (oz) AISC (A$/oz)
21,917oz 19,854oz 22,227oz 23,747oz
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Evolution Mining Limited Quarterly Report June 2020

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FINANCIALS

Evolution’s cash balance increased by A$204.7 million during the quarter to A$373.6 million. Bank debt as at 30 June 2020 was A$570.0 million equating to net bank debt of A$196.4 million. Group cash flow improved by 69% to A$187.9 million after allowing for A$16.2 million of restructuring costs at Red Lake and Mt Carlton.

Net mine cash flow for the June 2020 quarter was a record A$224.5 million primarily due to higher metal prices. Record quarterly net mine cash flows were achieved at Ernest Henry, Mungari, Mt Rawdon, and Cracow. This contributed to an annual record net mine cash flow of A$736.0 million.

For the second consecutive quarter, Mungari generated a record net mine cash flow of A$39.8 million (Mar qtr: A$31.9M). This achievement is the result of consistent operating performance over the course of the year including sustained improvement in mill throughput rates.

Mt Rawdon generated record net mine cash flow of A$32.3 million (Mar qtr: A$9.1M) due to the planned return to mining of high-grade material from the southwest corner of the pit. The resulting higher production was supported by the gold price and stable costs, translating to the strong cash generation in the quarter.

Cracow also achieved record net mine cash flow of A$27.8 million (Mar qtr: A$27.6m) following tight cost discipline combined with sustained plant throughput levels.

Ernest Henry produced record net mine cash flow of A$68.3 million for the quarter (Mar qtr: A$61.3M) driven by increased production and elevated gold prices. Cowal generated net mine cash flow of A$59.3 million (Mar qtr: A$34.5M) after investing A$58.1 million. Red Lake generated net mine cash flows of A$9.9 million after investment of A$20.9 million but before restructuring costs of A$12.8 million.

During the June quarter, Evolution sold 218,685oz of gold at an average gold price of A$2,500/oz (Mar qtr: 167,374oz at A$2,366/oz). Deliveries into the hedge book were as planned and totalled 25,000oz at an average price of A$1,794/oz with the remaining 166,339oz of gold delivered on spot markets at an average price of A$2,590/oz. A further 26,808oz from Red Lake was delivered on spot markets at an average price of C$2,381/oz.

Cash flow
(A$ Millions)		 Operating
Mine Cash
**flow **		 Sustaining
Capital		 Major
Projects
Capital1		 Mine
Cash
**Flow **		 Restructuring
Costs		 Net Mine
Cash Flow		 Net Mine
Cash Flow
YTD
Cowal 117.4 (3.3) (54.8) 59.3 0.0 59.3 235.6
Mungari 53.1 (5.1) (8.2) 39.8 0.0 39.8 112.7
Mt Carlton 11.7 (0.3) (7.9) 3.4 (3.4) (0.0) (10.3)
Mt Rawdon 34.6 (1.8) (0.5) 32.3 0.0 32.3 59.0
Cracow 33.2 (2.4) (3.0) 27.8 0.0 27.8 85.3
Ernest Henry 71.3 (3.1) 0.0 68.3 0.0 68.3 256.6
Red Lake 30.8 (6.6) (14.3) 9.9 (12.8) (2.9) (2.9)
June 2020
Quarter		 352.1 (22.7) (88.8) 240.7 (16.2) 224.5 736.0
March 2020
Quarter		 257.4 (11.9) (85.9) 159.7 0.0 159.7
December
2019 Quarter		 233.1 (20.1) (68.6) 144.4 0.0 144.4
September
2019 Quarter		 278.7 (26.9) (44.4) 207.4 0.0 207.4
Full Year to
June 2020		 1,121.4 (81.5) (287.6) 752.2 (16.2) 736.0
  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$37.4 million); Integrated Waste Landform (A$10.8 million); Underground Stage 1 and 2 studies (A$4.5 million)

  • Red Lake: Underground mine development (A$12.8 million)

  • Mt Carlton: Underground mine development (A$3.0 million) and Stage 4 Capital Stripping (A$2.4 million)

  • Mungari: Boomer deposit access (A$1.6 million) and new AD60 Truck (A$1.5 million)

  • Mt Rawdon: Open pit waste stripping and tails storage buttressing project (A$0.5 million)

Evolution Mining Limited Quarterly Report June 2020

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FINANCIALS

Sustaining Capital investment for the year totalled A$83.4 million, below the A$90.0 million bottom end of guidance. Major Capital investment for the year totalled $287.6 million and was above the A$235.0 million guidance due to advancement of the Cowal Underground program and Red Lake capital investment which were not included in the original FY20 guidance. Total capital investment for the year was A$371.0 million.

Discovery expenditure for the quarter was A$20.6 million (Mar qtr: A$13.9M). This included investment in the Warraga Exploration Decline at Cowal (A$2.8 million), underground mine development at Red Lake (A$12.8 million), continued drilling at the GRE underground at Cowal (A$6.4 million), continued investment at Crush Creek (A$2.9 million) and expenditure at exploration joint venture projects Cue and Murchison (A$1.3 million). A total of 40,587 metres were drilled across the group (Mar qtr: 77,615m).

Corporate administration costs were A$8.3 million (Mar qtr: A$5.5M) primarily driven by end-of-year accruals for short-term and long-term incentive programs. Corporate capital investment for the year totalled A$1.9 million.

The table below highlights the cash flow and movements during the quarter and financial year.

Cash flow (A$ Millions) March 2020
Qtr		 June 2020
Qtr		 FY
2020 YTD
OperatingMine Cash flow 257.4 352.1 1,121.3
Total Capital (97.7) (111.4) (369.1)
RestructuringCosts 0.0 (16.2) (16.2)
Net Mine Cash flow 159.7 224.5 736.0
Corporate and discovery (19.4) (27.6) (108.2)
Net Interest expense (1.2) (5.0) (9.7)
Dividend received 0.0 0.0 2.2
WorkingCapital Movement (13.3) 13.4 (2.2)
Income Tax (14.3) (17.4) (76.3)
Group Cash flow 111.5 187.9 541.8
Dividendpayment (119.3) 0.0 (221.4)
Debt repayment 0.0 0.0 (300.0)
Debt drawdown for Red Lake 570.0 0.0 570.0
Payment for Red Lake (551.9) 0.0 (551.9)
Acquisitions & Integration (11.7) 16.7 (0.2)
Net Group Cash flow (1.4) 204.6 38.3
OpeningCash Balance 1 July2019 335.1
OpeningCash Balance 1 January2020 170.3
OpeningCash Balance 1 April 2020 168.9
ClosingGroupCash Balance 168.9 373.6 373.6

Evolution’s hedge book as at 30 June 2020 for the Australian operations was 300,000oz at an average price of A$1,872/oz for deliveries of 25,000oz per quarter to June 2023. Red Lake hedging stands at 120,000oz at C$2,302/oz with deliveries of 10,000oz per quarter through until June 2023.

Full year financial results

Evolution’s financial results for the year ended 30 June 2020 will be released on 13 August 2020. The following preliminary information is provided in relation to accounting items which will be included in the results. These items remain subject to audit.

  • Exploration costs of A$20.0 – A$24.0 million are expected to be expensed for the financial year

  • Due to the divestment of Cracow, the asset will be classified as held for sale as at 30 June 2020 with a pretax profit on sale of approximately A$10.0 – A$12.5 million to be included in the full year financials

  • Mt Carlton non-cash impairment expense of A$75.0 – A$100.0 million post-tax

Evolution Mining Limited Quarterly Report June 2020

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EXPLORATION

Exploration highlights

Red Lake

  • Resource definition and extensional drilling continued with five underground drill rigs. Results at Cochenour continue to be encouraging with the best step-out hole intersecting 6.09m (4.67m etw) grading 18.86 g/t Au. This result confirms extension of the Gold Eagle Corridor along strike to the north. Results of definition drilling continue to be in line with expectations and will support resource classification upgrades at Cochenour, Twin Otter and the Deep Sulphides Zone. The best resource definition infill hole intersected 4.64m (4.01m etw) grading 22.10g/t Au at Cochenour. Work also focused on building a new geology and resource model as a basis for releasing an updated Mineral Resource

Cowal

  • Drilling at the Cowal Underground was focused on resource conversion and extending mineralisation beyond underground resource outlines. Several significant intersections continued to provide robust infill results including: 94m (75.2m etw) grading 5.0g/t Au and 33m (26.4m etw) grading 19.0g/t Au demonstrating geological and grade continuity of the orebody. The geological and resource model was updated 30 April 2020 as part of completion of the Pre-Feasibility Study and Maiden Underground Ore Reserve declaration.

Mungari

  • The underground access drive from the Frog’s Leg decline intersected the Boomer vein on 30 May 2020. Further infill drilling completed at Boomer continued to intercept a narrow folded laminated vein with visible gold. The best intersections returned were 0.79m (0.67m etw) grading 133.8g/t Au and 0.40m (0.33m etw) grading 98.6g/t Au. RC drilling designed to test a one kilometre long extension of the Boomer structure to the north has commenced

Mt Carlton

  • Initial encouraging assay results have been received for several holes at the Crush Creek project (EVN earning 100%) located 30 kilometres southeast of Mt Carlton. Drilling has confirmed as well as extended and filled in zones on the Delta prospect. Several excellent intersections including 31.7m (27.5m etw) grading 5.68g/t Au and 4.0m (4.0m) grading 25.89g/t Au illustrate the potential for high-grade mineralisation in narrow, structurally controlled ore shoots

Total drilling of 23,550m (resource definition) and 40,587m (discovery) was completed during the quarter. Evolution’s exploration tenement holding interests in Australia and Canada now stands at 8,570 km[2] .

Red Lake, Ontario (100%)

During the quarter, underground diamond drilling campaigns continued at Cochenour and Lower Red Lake. A total of 71 diamond drill holes (15,566m) were drilled utilising five drill rigs. Work also focused on building a new geology and resource model as a basis for releasing an updated Mineral Resource estimate.

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EXPLORATION

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

Cochenour

Two diamond rigs were operating at Cochenour during the June quarter. Forty-two drill holes totalling 6,948m were drilled. Sixteen holes were collared from the 3735 Exploration drift (Figure 2). These holes were targeting future production horizons and step outs from these mining areas to test if mineralisation is closed off along strike. Twenty-six holes were collared from the 4485 Exploration drift (Figure 3). Holes continue to intercept lenses of mineralised iron formation as well as the brecciated quartz-actinolite veins and basalt that comprise the Gold Eagle Shear corridor.

Significant infill intercepts from the 3735 exploration drift confirmed grade continuity indicated by previous wider spaced drilling. Results include:

  • 2.83m (2.45m etw) grading 20.03 g/t Au from 131.9m (C37224) - BIF (Infill)

  • 5.91m (2.95m etw) grading 5.84 g/t Au from 98.2m (C37225) - BIF (Infill)

  • 8.02m (5.96m etw) grading 9.66 g/t Au from 102.9m (C37226) - BIF (Infill)

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Figure 2: Long section looking east. Current drilling intersections are represented by gpt*m, block model displayed by classification and drilling intersection are in g/t

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EXPLORATION

Infill drilling from the 4485 exploration drift has been successful at defining additional mineralisation.

Three longer step-out holes drilled from the same position in the 4485 drift targeted the extension of the Gold Eagle Corridor in an area known as the VOSS target. Hole C44187 intercepted a 4.7m wide zone grading 18.9g/t Au. Further drilling is designed to test around this initial intercept to understand potential for resource growth in this area which is situated beyond existing resource shapes.

Significant intercepts from the 4485 exploration drift are reported below with the best infill results illustrated in Figure 3.

  • 4.64m (4.01m etw) grading 22.10g/t Au from 91.7m (C44161) - BIF/UMZ (Infill)

  • 7.83m (4.82m etw) grading 9.32g/t Au from 120.7m (C44169) - BIF/UMZ (Infill)

  • 5.18m (2.97m etw) grading 12.33g/t Au from 107.4m (C44179) - BIF/UMZ (Infill)

  • 6.09m (4.67m etw) grading 18.86g/t Au from 73.5m (C44187) - BIF/VOSS (Extension)

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Figure 3: Long section looking east. Current drilling intersection are represented by m.g/t Au, block model

displayed classification and drilling intersection are in g/t

Lower Red Lake

Twenty-four drill holes, totalling 6,902m, were drilled at the Twin Otter and Lower Sulphide areas in the mine. All drilling was designed to increase geological confidence and demonstrate grade continuity that would allow resources to be upgraded from Inferred to Indicated category. Results were generally in line with expectations. Highlights of the best intercepts reported below.

Twin Otter infill drill results:

  • 5.34m (4.83m etw) grading 6.37g/t from 199.61m (44L917A)

  • 3.51m (3.04m etw) grading 26.42g/t from 288.92m (44L919)

  • 1.55m (1.50m etw) grading 43.33g/t from 227.84m (44L931)

Deep Sulphides infill drill results:

  • 0.79m (0.61m etw) grading 19.82g/t from 119.48m (43L509)

  • 1.04m (0.94m etw) grading 78.581g/t from 122.71m (43L511)

  • 4.9m (3.76m etw) grading 7.65g/t from 126.16m (43L512)

Evolution Mining Limited Quarterly Report June 2020

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EXPLORATION

Cowal, New South Wales (100%)

During the June quarter resource definition drilling continued on the Cowal Underground with 11 surface diamond holes (4,468m), and 40 underground diamond holes (17,578m) being completed. The geological and resource model was updated 30 April 2020 for completion of the Pre-Feasibility Study and declaration of the Maiden Underground Ore Reserve.

Regional exploration was conducted across two target areas. Aircore drilling also commenced at the Reflector target with two holes (222m). A diamond drilling program commenced at the E40 target late in the quarter with one hole (429m) completed.

– Galway Regal E46 (GRE46)

Infill drilling continued underground during the June 2020 quarter with the aim of upgrading resources from Inferred to Indicated category. These new results are not included in the Maiden Underground Ore Reserve declaration in today’s ASX Announcement. The next model update will incorporate these results along with those from ongoing drilling as part of Evolution’s annual MROR statement for the period ending 31 December 2020. Significant intercepts for the quarter included:

  • 94.0m (75.2m etw) grading 5.06g/t Au from 283m (GRUD0139) o including 30.0m (24.0m etw) grading 6.84g/t Au from 299m

  • 33.0m (26.4m etw) grading 18.97g/t Au from 570m (GRUD0141)

Underground drilling continues from the eastern drill platforms targeting Inferred Mineral Resource blocks in order to convert to an Indicated Mineral Resource in the northern lava (Regal) and the Dalwhinnie areas.

Surface drilling will focus on extensions to the Mineral Resource down plunge of Dalwhinnie to the south.

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Figure 5: Long projection of the GRE46 structure looking west showing the location of drilling completed during the June quarter

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EXPLORATION

Mungari, Western Australia (100%)

Exploration

A total of 11,833m of drilling was completed at Mungari during the quarter (Figure 6). Forty-five surface diamond drill holes were completed at the Boomer prospect for 8,122m. Eighteen reverse circulation (RC) drill holes were completed at Boomer North for 3,241 metres. These were designed to test a one kilometre long extension of the Boomer structure to the north. Three RC holes were completed at Cutters Ridge for 470m to infill the resource model in an area of mineralisation identified during pre-stripping.

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Figure 6: Location map of Mungari resource definition and regional projects locations in the June quarter

Boomer

The underground access drive from the Frog’s Leg decline intersected the Boomer vein on 30 May 2020. Extensional and infill drill holes at Boomer continued to intercept a narrow, folded, laminated quartz vein containing visible gold and base metal sulphides. Best intercepts for the quarter include:

  • 0.79m (0.67m etw) grading 133.8g/t Au from 225m (BMDD0030)

  • 0.40m (0.33m etw) grading 98.7g/t Au from 253m (EVDD0118)

  • ▪ 0.30m (0.24m etw) grading 53.7g/t Au from 269m (EVDD0117)

Assays are pending for eight holes. The first round of underground grade control drilling will commence in early June. Information from the drilling will assist geological modelling and resource estimation in support of a mining study to optimise the development of the Boomer mineralisation.

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EXPLORATION

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Figure 7: Boomer prospect long section showing location of drilling during the June quarter

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

Drilling commenced at Crush Creek in the June quarter with the aim of confirming and expanding the in situ mineral inventory at the Delta and BV7 prospects. Crush Creek is located 30km southeast of Evolution’s Mt Carlton operation (Figure 8) with access to the project from the town of Collinsville. Encouraging results were received from the Delta prospect.

Two diamond rigs are currently on site with an RC rig scheduled to arrive during the September 2020 quarter.

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EXPLORATION

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Figure 8. Location of the Crush Creek project in relation to Evolution’s Mt Carlton Operation

Twenty-seven holes (3,781m) have been completed at Delta over a 350m long zone (Figure 9) which remains open north and south along strike. Mineralisation occurs in low sulphidation epithermal quartz veins and breccia bodies associated with numerous rhyolite dome complexes. Results have been received for the first 20 drill holes with highlights summarised below.

  • 31.7m (27.5m etw) grading 5.68 g/t Au from 61m (DE20DD00001)[1] o including 9.0m (8m etw) grading 11.78g/t Au from 63m

  • 4.0m (4.0m) grading 25.89g/t Au from 144m (DE20DD00004)[1]

  • including 1.0m (1.0m etw) grading 96.8g/t Au from 145m

  • 10.0m (7.8m etw) grading 4.89g/t Au from 50m (DE20DD00009)[1]

  • 0.5m (0.5m etw) grading 304.00g/t Au from 126.45m (DE20DD00012)

  • 26.0m (25.8m etw) grading 4.34g/t Au from 71m (DE20DD00018)[1] o including 5m (4.9m etw) grading 19.24g/t Au from 73m

  • 4.1m (3.4m etw) grading 11.04g/t Au from 41.9m (DE20DD00020)[1]

Drilling is ongoing at Delta targeting extensions of the main mineralised zones along strike. Twelve holes of a 21-hole program have been drilled at BV7 with results to be reported when the program is more complete. Resource modelling, metallurgical test work and engineering studies have been initiated and will be advanced as more drilling information comes to hand.

During the September 2020 quarter targets will focus on step-out drilling to expand the resource footprint at (and beyond) both targets, as well as testing regional targets for new discovery.

  1. This information is extracted from the report entitled “Mt Carlton Update” released to the ASX on 19 June 2020 and is available to view on our website www.evolutionmining.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original release.

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EXPLORATION

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Figure 9. Plan view of the Delta Prospect showing Evolution drilling and mineralised intercepts received to date

Australian Greenfields Exploration

At the Cue Project (EVN earning 75% from Musgrave Minerals Ltd, ASX:MGV) a scout aircore program was completed during the quarter for a total program of 249 holes drilled for 22,879m. The results were provided in an ASX release by Musgrave Minerals on 5 June 2020 entitled “Scout drilling defines large gold targets at Cue Evolution JV”. Drilling has confirmed the extension of the Lake Austin North gold anomalism to more than 5.5km of strike with significant results including:

  • 6m grading 4.2g/t Au from 116m (20MOAC031)

  • 9m grading 2.25g/t Au from 136m (20MOAC041)

At the nearby Murchison Joint Venture (EVN earning 80% from Enterprise Metals Limited, ASX:EML), the aircore drilling program recommenced after it was suspended due to COVID-19 restrictions.

Exploration programs remained suspended on the Drummond Project (EVN earning 80% from Andromeda Metals Limited, ASX:ADN) and at Connors Arc (EVN 100%) due to COVID-19.

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 person 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
Mungari resource definition and exploration results Marcelle Watson
Cowal resource definition and exploration results James Biggam
Red Lake resource definition and exploration results Dean Fredericksen
Crush Creek JV exploration results Daniel Macklin

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

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.

Issued share capital

At 30 June 2020 issued share capital was 1,704,413,975 ordinary shares.

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Conference call

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 11.00am Sydney time on Thursday 23 July 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: 7283437

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.

Evolution Mining Limited Quarterly Report June 2020

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APPENDIX 1 – COWAL GRE46 MAIDEN UNDERGROUND RESOURCE AND RESERVE

Table 1: Cowal GRE46 Underground Mineral Resource Statement April 2020

Gold Measured Indicated Inferred To tal Resour ce CP1 Dec 19
Resource
Gold
Metal
(koz)
Project Type Cut-
Off		 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)		 Tonnes
(Mt)		 Gold
Grade
(g/t)		 Gold
Metal
(koz)
Cowal UG 1.5 -
-
-
17.46		 2.61 1,461 19.08 2.37 1,451 36.51 2.48 2,912 1 2,502

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.

1 Cowal GRE46 UG Mineral Resources Competent Person (CP) Notes refer to 1. James Biggam

Table 2: Cowal GRE46 Maiden Underground Ore Reserve Statement April 2020

Gold Proved Probable Probable Total Reserve Total Reserve Total Reserve CP1 Dec 19
Reserve
Gold
Cut- Tonnes Gold Gold Tonnes Gold Gold Tonnes
Gold		 Gold
Project Type Off
(Mt)		 Grade
(g/t)		 Metal
(koz)
(Mt)		 Grade
(g/t)		 Metal
(koz)
(Mt)
Grade
(g/t)		 Metal
(koz)		 Metal
(koz)
Cowal UG 1.8 -
-
-
9.96		 2.51 804 9.96 2.51 804 2 0

Data is reported to significant figures to reflect appropriate precision and may not sum precisely due to rounding.

1 Cowal GRE46 UG Ore Reserve Competent Person (CP) Notes refer to 2. Joshua Northfield

This information is extracted from the ASX release entitled “Cowal Maiden Underground Ore Reserve Supports Mine Development” released to the ASX on 23 July 2020. 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 Persons’ 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

Hl ID Hole Northing Easting Elevation Hole
Lth		 Dip Azimuth From Interval1 ETW
Au
oe Type NAD83 (m) NAD83 (m) (m) eng
(m)		 NAD83 NAD83 (m) (m) (m) (g/t)
C37219 DD 5658205.87 442687.43 -717.56 210.01 21.9 297.8 19.5 0.70 0.67 49.97
40.7 0.49 0.47 6.70
50.1 0.97 0.55 4.24
117.3 0.58 0.50 27.88
133.2 0.49 0.42 61.87
C37220 DD 5658205.73 442687.67 -719.03 227.99 2.4 296.3 36.6 2.13 1.63 8.44
43.9 0.49 0.42 3.59
C37221 DD 5658205.69 442687.52 -718.55 210.01 9.5 294 20.7 0.61 0.59 7.58
36.2 0.85 0.66 4.05
38.4 1.19 0.99 6.20
42.0 0.37 0.35 3.51
128.6 0.88 0.80 12.15
C37222 DD 5658205.59 442687.65 -719.05 204.00 1.7 293.6 20.5 0.46 0.37 3.16
38.7 3.11 2.29 10.33
124.2 0.76 0.43 3.83
128.6 0.46 0.31 6.51
131.8 0.36 0.24 4.72
C37223 DD 5658205.62 442687.66 -719.38 235.49 -7.3 293.7 39.9 5.94 4.55 5.36
including 43.5 0.27 0.21 31.14
55.4 0.31 0.21 2.90
147.5 3.36 1.83 5.26
C37224 DD 5658205.77 442687.43 -717.58 185.62 22.3 290.4 21.3 2.13 1.84 5.77
including 21.9 0.31 0.27 24.79
36.5 1.01 0.87 28.70
48.9 0.82 0.71 2.08
107.0 1.83 1.58 5.36
116.1 0.91 0.79 45.98
126.0 0.46 0.40 3.68
131.9 2.83 2.45 20.03
including 134.3 0.21 0.18 179.56
C37225 DD 5658205.59 442687.48 -717.59 166.51 24.2 282.8 6.0 0.24 0.23 2.02
21.9 0.16 0.15 81.26
24.0 0.36 0.34 6.30
37.0 0.46 0.44 31.68
41.2 2.19 1.68 34.87
including 41.2 0.21 0.16 346.01
89.3 2.71 2.08 1.59
93.8 2.53 1.26 5.23
98.2 5.91 2.95 5.84
112.1 1.16 0.58 4.54
C37226 DD 5658205.57 442687.50 -718.54 164.99 9.6 280.1 22.6 0.45 0.40 87.05
37.0 1.37 1.25 2.44
41.8 0.67 0.61 2.46
102.9 8.02 5.96 9.66
Including 105.1 0.24 0.18 36.56

Evolution Mining Limited Quarterly Report June 2020

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Hl ID Hole Northing Easting Elevation Hole
Lth		 Dip Azimuth From Interval1 ETW ETW
Au
oe Type NAD83 (m) NAD83 (m) (m) eng
(m)		 NAD83 NAD83 (m) (m) (m) (g/t)
112.5 2.75 2.28 3.58
C37227 DD 5658205.52 442687.42 -717.55 151.52 22 274.3 92.2 0.46 0.35 4.09
94.5 0.76 0.58 4.38
96.7 7.01 5.37 2.35
118.7 0.43 0.41 2.34
C44135 DD 5658097.01 442558.07 -963.57 137.16 31.3 300.6 14.3 0.30 0.22 4.83
60.1 3.35 2.37 1.89
69.6 0.51 0.33 3.38
78.9 0.61 0.21 7.53
92.4 0.31 0.28 20.15
94.7 0.18 0.14 3.17
97.3 0.86 0.74 4.66
126.5 0.61 0.35 3.66
C44136 DD 5658096.66 442557.90 -965.46 134.11 3.0 284.7 3.4 0.58 0.24 3.73
11.0 0.61 0.50 4.81
23.6 0.37 0.28 16.78
54.1 0.43 0.15 3.98
94.5 0.76 0.65 3.22
98.3 3.81 3.23 6.51
104.2 1.71 1.21 6.38
C44137 DD 5658259.04 442586.30 -960.84 204.22 -11.3 271.7 43.4 0.77 0.49 6.09
67.4 0.64 0.44 35.74
90.1 0.15 0.11 4.83
150.9 0.76 0.55 3.31
187.5 0.43 0.27 7.94
C44138 DD 5658259.05 442586.27 -961.35 310.90 -27.0 271.8 3.1 0.42 0.25 6.58
45.9 0.61 0.43 3.40
75.6 0.61 0.53 4.18
82.9 0.15 0.13 4.60
113.5 0.76 0.51 6.66
117.4 0.21 0.19 4.54
122.7 0.76 0.38 22.07
183.6 0.76 0.66 5.27
C44139 DD 5658259.45 442586.25 -961.13 283.46 -19.4 282.6 17.7 0.73 0.42 3.86
30.5 0.61 0.43 7.85
45.7 3.72 2.39 32.55
Including 45.7 0.15 0.10 724.54
67.6 5.73 1.96 13.46
79.0 0.52 0.40 12.12
87.5 0.64 0.43 5.24
114.6 0.77 0.55 4.38
C44140 DD 5658259.51 442586.34 -959.42 188.98 27.4 287.1 48.0 0.82 0.63 5.81
49.5 0.36 0.20 5.12
100.0 0.94 0.82 3.79
111.3 1.83 1.18 2.80
122.0 0.89 0.70 4.54
C44142 DD 5658196.51 442570.66 -962.74 291.18 -28.6 272.0 142.2 0.18 0.17 2.85
149.1 0.61 0.46 4.42
C44143B DD 5658196.48 442570.87 -962.80 243.84 -20.5 284.7 7.4 0.27 0.20 6.85
31.0 0.18 0.15 955.53

Evolution Mining Limited Quarterly Report June 2020 24

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Hl ID Hole Northing Easting Elevation Hole
Lth		 Dip Azimuth From Interval1 ETW ETW
Au
oe Type NAD83 (m) NAD83 (m) (m) eng
(m)		 NAD83 NAD83 (m) (m) (m) (g/t)
36.3 0.61 0.50 2.76
59.9 1.07 0.71 4.52
101.4 0.76 0.51 6.08
163.8 0.55 0.37 7.68
169.2 1.47 0.98 5.74
C44146 DD 5658096.73 442557.93 -964.99 163.07 -9.9 290.3 32.8 0.36 0.30 3.87
38.1 0.76 0.63 4.81
51.1 1.50 0.96 3.84
73.9 0.77 0.47 5.72
84.8 0.16 0.05 44.52
133.8 3.35 2.64 12.82
140.7 2.01 1.65 7.58
C44148 DD 5658197.12 442570.73 -963.15 384.05 -36.2 283 61.8 0.15 0.08 4.00
89.9 0.76 0.44 7.62
98.5 0.46 0.26 3.53
100.6 0.58 0.33 14.38
112.0 2.29 1.41 3.51
116.6 1.22 0.75 4.14
160.9 0.77 0.45 11.10
165.3 0.58 0.10 4.22
167.1 0.52 0.13 4.89
C44150 DD 5658196.62 442570.76 -963.44 387.10 -39.2 268.5 19.9 0.28 0.09 11.82
39.6 0.80 0.40 7.44
48.8 0.36 0.18 6.92
51.2 0.61 0.35 3.86
58.6 0.31 0.06 9.72
89.7 0.46 0.19 6.54
100.9 0.30 0.20 30.83
109.9 0.31 0.22 14.43
162.1 0.34 0.23 23.54
175.4 0.37 0.32 11.02
196.4 0.37 0.30 14.29
204.2 0.61 0.53 5.33
219.5 0.61 0.53 6.30
236.4 0.58 0.50 4.97
249.3 1.22 1.06 6.18
257.9 0.61 0.26 8.86
260.3 0.79 0.51 6.20
263.7 0.61 0.35 56.22
268.5 0.61 0.39 5.50
C44151 DD 5658259.63 442586.39 -961.49 274.32 -39.7 290.1 0.0 0.61 0.38 6.62
26.5 0.18 0.09 6.12
60.2 1.22 0.61 2.25
91.8 1.37 0.58 6.82
99.7 1.22 0.86 3.94
109.8 7.50 4.30 10.56
122.9 0.58 0.39 2.87
138.7 0.55 0.41 4.09
142.3 0.27 0.20 90.55
147.3 0.46 0.31 3.45

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Hl ID Hole Northing Easting Elevation Hole
Lth		 Dip Azimuth From Interval1 ETW ETW
Au
oe Type NAD83 (m) NAD83 (m) (m) eng
(m)		 NAD83 NAD83 (m) (m) (m) (g/t)
156.9 0.52 0.13 2.78
C44152 DD 5658259.28 442586.32 -961.53 301.75 -32.6 279.7 24.4 0.83 0.53 10.33
36.8 0.33 0.23 3.61
53.3 0.76 0.46 3.22
63.8 0.83 0.47 3.25
96.6 0.15 0.13 3.14
131.1 0.77 0.49 6.60
135.6 0.76 0.44 3.15
144.8 0.76 0.49 10.89
C44153 DD 5658258.95 442586.38 -961.91 282.00 -42.4 270.6 0.4 0.18 0.09 10.34
5.1 0.64 0.34 17.11
58.8 0.15 0.10 15.58
76.2 0.49 0.29 154.17
80.3 0.25 0.14 5.18
82.0 0.18 0.09 55.13
83.4 0.16 0.10 17.44
84.6 0.37 0.20 65.55
109.8 0.73 0.42 5.02
127.4 0.76 0.66 6.76
134.3 0.43 0.24 3.75
136.6 0.76 0.54 12.55
C44161 DD 5658096.49 442557.72 -964.09 120.61 17.3 285.1 1.3 0.24 0.16 74.82
9.8 0.61 0.50 11.84
78.6 0.33 0.24 3.96
81.1 0.39 0.34 6.89
88.3 0.21 0.15 13.41
89.8 0.92 0.65 3.72
91.7 4.64 4.01 22.10
Including 94.9 0.52 0.45 70.74
C44162 DD 5658095.82 442557.33 -964.89 131.06 4.2 269.4 9.3 0.15 0.15 37.83
21.8 0.34 0.14 18.13
39.5 0.31 0.27 4.93
101.5 2.38 2.06 4.56
C44163 DD 5658095.14 442557.19 -964.08 121.92 16.1 259.5 11.3 0.24 0.19 5.19
52.9 0.46 0.37 3.81
87.9 0.49 0.40 12.50
90.8 1.83 1.49 6.62
98.8 5.97 4.95 5.68
Including 101.3 0.55 0.44 17.88
C44164 DD 5658094.71 442557.21 -965.12 140.21 -0.1 245.2 5.5 0.36 0.31 30.17
52.6 0.18 0.14 2.91
75.6 1.52 1.07 2.11
Including 76.9 0.21 0.15 6.79
97.4 0.49 0.24 25.80
102.2 0.82 0.46 4.30
114.9 0.30 0.23 3.76
118.5 1.00 0.85 5.15
122.1 1.65 1.43 4.76
127.6 0.46 0.34 3.52
C44165 DD 5658095.21 442557.15 -965.53 219.46 24.1 255.9 68.0 0.37 0.28 4.20

Evolution Mining Limited Quarterly Report June 2020 26

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Hl ID Hole Northing Easting Elevation Hole
Lth		 Dip Azimuth From Interval1 ETW ETW
Au
oe Type NAD83 (m) NAD83 (m) (m) eng
(m)		 NAD83 NAD83 (m) (m) (m) (g/t)
108.9 0.54 0.20 3.90
137.0 0.52 0.42 5.23
170.8 0.58 0.25 7.13
183.5 0.76 0.51 15.39
186.2 0.31 0.17 3.26
195.4 0.61 0.31 3.49
C44166 DD 5658095.26 442557.16 -965.48 163.07 -13.6 261.8 13.6 0.46 0.40 6.63
32.8 0.45 0.40 6.92
85.5 0.30 0.27 3.28
112.2 0.39 0.26 6.07
117.3 0.45 0.32 3.85
134.4 2.19 1.90 6.70
155.9 0.61 0.43 3.17
C44167 DD 5658095.31 442557.17 -965.51 195.07 -20.8 266.7 31.6 0.48 0.40 4.98
63.0 5.24 4.02 8.41
Including 65.3 0.55 0.42 28.38
113.2 0.49 0.24 10.63
120.4 0.36 0.21 3.72
127.0 0.34 0.22 3.82
150.9 0.51 0.27 5.62
C44168 DD 5658095.66 442557.31 -965.44 163.07 -14.7 267.8 38.3 0.61 0.40 2.76
56.9 1.79 1.49 13.44
Including 56.9 0.15 0.13 132.35
126.5 4.57 3.70 2.71
C44169 DD 5658095.67 442557.33 -965.41 170.69 -12.4 276.7 34.8 0.61 0.16 3.26
47.2 0.34 0.23 4.71
82.5 1.00 0.82 112.58
Including 82.9 0.15 0.13 654.51
98.2 0.45 0.26 3.75
115.8 1.22 0.70 7.23
120.7 7.83 4.82 9.32
C44171 DD 5658095.50 442557.50 -963.30 123.44 36.3 251.7 27.7 0.36 0.32 8.29
55.8 7.22 5.92 34.03
Including 58.1 0.31 0.25 610.33
99.1 3.57 2.74 2.73
108.5 0.27 0.26 3.55
C44172 DD 5658095.23 442557.34 -964.59 129.54 4.4 252.3 54.4 7.19 4.57 15.44
Including 55.1 0.15 0.11 496.81
64.6 0.30 0.30 6.10
70.7 0.61 0.43 2.95
82.3 1.98 1.86 3.65
84.1 0.16 0.14 20.08
90.1 0.27 0.12 6.70
102.0 0.15 0.15 4.31
105.2 2.40 1.55 7.24
Including 107.4 0.21 0.14 27.38
112.8 2.74 2.10 5.25
C44173 DD 5658095.50 442557.38 -962.98 118.51 36.4 268.4 55.0 0.33 0.24 9.15
60.7 0.30 0.24 3.58
68.0 0.79 0.49 11.64

Evolution Mining Limited Quarterly Report June 2020 27

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Hl ID Hole Northing Easting Elevation Hole
Lth		 Dip Azimuth From Interval1 ETW ETW
Au
oe Type NAD83 (m) NAD83 (m) (m) eng
(m)		 NAD83 NAD83 (m) (m) (m) (g/t)
Including 68.6 0.18 0.11 36.75
93.8 2.25 1.68 6.72
C44174 DD 5658095.67 442557.20 -964.76 128.93 8.5 276.4 27.6 0.43 0.34 7.75
82.8 0.46 0.34 4.12
92.7 8.47 6.77 7.31
Including 100.2 0.39 0.32 23.91
111.9 1.13 0.92 5.52
C44175 DD 5658096.98 442558.04 -963.59 132.01 27.2 293.2 21.6 0.76 0.57 13.49
68.2 0.31 0.17 32.92
99.6 1.92 1.47 16.91
Including 100.4 0.31 0.24 49.22
C44176 DD 5658062.73 442555.48 -963.18 122.99 25.2 244.8 60.2 3.08 2.61 4.13
98.5 4.21 2.47 5.08
Including 102.1 0.46 0.27 17.65
C44177 DD 5658063.40 442555.82 -965.14 122.99 8.9 260.3 10.7 0.39 0.34 20.33
61.4 0.48 0.42 9.94
71.0 0.33 0.31 5.83
76.8 0.21 0.17 5.15
83.0 1.52 1.32 6.90
107.9 1.86 1.52 5.83
C44178 DD 5658063.41 442555.83 -965.83 153.01 -8.7 260.7 14.9 3.08 3.01 2.32
65.6 0.70 0.59 39.62
78.9 0.31 0.23 3.73
109.4 0.31 0.23 2.97
128.8 0.30 0.21 3.07
C44179 DD 5658063.20 442556.31 -962.31 132.01 60.9 268.3 12.9 1.71 1.21 3.68
42.1 1.62 1.18 2.01
77.3 2.07 1.10 2.33
80.3 4.76 2.52 11.68
Including 80.3 0.16 0.08 74.41
Including 81.0 0.36 0.19 59.57
Including 83.0 0.15 0.08 48.64
85.5 0.82 0.46 2.15
107.4 5.18 2.97 12.33
Including 109.2 0.49 0.28 40.30
C44182A DD 5658063.31 442555.85 -963.38 120 32.5 280.5 63.4 0.43 0.29 3.22
97.2 0.61 0.46 4.68
C44183A DD 5658063.42 442555.78 -965.17 130.45 9.8 282.5 11.9 2.10 2.07 6.88
15.9 0.18 0.17 4.64
17.8 0.15 0.11 34.18
50.0 0.39 0.34 23.97
52.6 0.15 0.11 3.29
60.8 0.73 0.67 2.90
63.4 0.21 0.17 3.05
70.7 3.42 3.07 2.98
Including 70.7 0.31 0.28 10.66
87.2 8.75 8.62 3.21
Including 91.6 0.15 0.15 16.59
Including 95.0 0.39 0.38 17.08
C44187 DD 5658273.61 442585.74 -960.13 446.99 3.8 321.1 4.9 0.39 0.28 11.88

Evolution Mining Limited Quarterly Report June 2020 28

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Hl ID Hole Northing Easting Elevation Hole
Lth		 Dip Azimuth From Interval1 ETW ETW
Au
oe Type NAD83 (m) NAD83 (m) (m) eng
(m)		 NAD83 NAD83 (m) (m) (m) (g/t)
21.1 2.41 1.70 2.50
73.5 6.09 4.67 18.86
141.7 0.92 0.70 14.07
233.5 0.73 0.37 2.65
C44190 DD 5658034.18 442519.10 -966.23 93.42 0.7 269.5 2.0 0.43 0.40 18.52
38.7 1.52 1.20 7.80
77.1 2.23 2.02 5.74
43L506 DDH 5655484.1 448130.61 -1540.5555 109.73 -17.3 30.4 82.9 0.64 0.555 14.03
93.0 0.37 0.338 20.83
43L509 DDH 5655663.9 447989.59 -1537.7105 202.05 1.8 43.6 107.3 1.37 1.052 6.91
119.5 0.79 0.607 19.82
43L511 DDH 5655663 447989.66 -1538.3989 138.01 -23.5 69 64.3 1.86 1.859 4.54
91.7 1.93 1.914 2.82
122.7 1.04 0.939 78.58
43L512 DDH 5655662.6 447989.09 -1537.4264 177 8.6 77.5 112.6 3.69 2.371 2.16
126.2 4.9 3.758 7.65
134.2 4.36 3.338 1.46
140.8 0.42 0.326 3.36
43L513 DDH 5655662.1 447989.39 -1538.1561 149.99 -20.1 90.4 106.5 0.94 0.774 6.45
109.1 0.91 0.75 7.22
114.5 0.37 0.28 32.22
118.1 0.67 0.515 9.90
130.0 0.94 0.722 9.96
43L518 DDH 5655574.4 447730.09 -1500.4237 99 27.1 261.1 46.9 0.36 0.335 16.41
43L519 DDH 5655575.8 447730 -1500.3697 139.6 -11.1 259.7 17.9 0.7 0.649 1.55
79.8 0.58 0.29 3.23
43L520 DDH 5655574.9 447730.16 -1499.6925 78 8.6 240 59.9 1.07 0.966 16.09
43L521 DDH 5655574.4 447730.09 -1500.4237 97.99 -11.5 223.7 54.6 0.4 0.296 9.66
43L522 DDH 5655575.8 447730.33 -1498.7119 69.01 48.9 193.5 46.9 0.43 0.396 1.75
43L523 DDH 5655570.1 447731.14 -1499.113 65.99 17.6 195.6 42.1 0.34 0.256 32.82
43L524 DDH 5655591.5 447749.44 -1500.9604 114 0.2 181.9 85.9 1.04 0.85 38.16
43L525 DDH 5655591.6 447749.5 -1501.2994 162 -20.5 175.9 130.6 0.33 0.216 10.66
44L912 DDH 5655146.4 448356.28 -1554.6269 231.65 -9.1 63.2 139.0 1.19 1.116 32.99
44L913 DDH 5655146.2 448356.45 -1554.5583 234.7 -7 67.4 147.9 0.64 0.6 20.00
Including Including 148.1 0.37 0.344 33.92
44L914 DDH 5654928.9 448514.71 -1549.0539 325.71 -4.7 2.8 228.7 0.64 0.555 9.29
270.6 4.36 4.042 2.32
44L915 DDH 5654929.3 448515.44 -1549.119 310.47 -5.7 9.2 224.6 1.86 1.686 12.84
261.0 3.23 2.929 6.02
Including 262.7 0.48 0.442 38.47
44L916 DDH 5654929.4 448515.47 -1549.0935 305.23 -6.3 14.1 220.6 0.61 0.5 8.61
228.6 0.61 0.5 6.51
255.2 0.49 0.424 13.73
261.6 2.38 1.823 4.39
271.4 0.58 0.475 10.55
44L917A DDH 5654930.9 448518.93 -1549.9247 290.99 -38.6 16.9 67.2 1.13 0.975 8.98
174.9 0.64 0.555 5.62
190.6 0.49 0.442 13.94
199.6 5.34 4.834 6.38
44L919 DDH 5654901.8 448571.23 -1548.7933 327 -4.4 26.1 15.2 0.15 0.137 11.19

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Hl ID Hole Northing Easting Elevation Hole
Lth		 Dip Azimuth From Interval1 ETW
Au
oe Type NAD83 (m) NAD83 (m) (m) eng
(m)		 NAD83 NAD83 (m) (m) (m) (g/t)
190.0 0.76 0.692 4.41
191.7 0.61 0.552 7.84
224.9 3.66 3.167 9.97
231.8 4.45 3.853 7.04
288.9 3.51 3.036 26.42
44L920 DDH 5654901.6 448571.02 -1547.5775 501.09 13.4 24.6 54.3 1.25 1.13 7.82
58.5 2.38 2.16 2.40
251.7 0.98 0.85 8.51
293.4 1.32 1.2 7.18
302.8 1.64 1.49 3.64
306.3 3.2 2.9 5.78
317.9 3.78 3.43 13.86
44L928 DDH 5654930.9 448519.06 -1549.1658 430.38 -5.7 21.7 256.7 2.47 2.24 2.55
269.3 1.25 1.13 4.92
44L929 DDH 5654930.6 448519.09 -1549.1905 305.99 -6.4 24.8 205.4 0.42 0.378 7.90
224.3 1.4 1.244 23.99
230.0 0.49 0.433 7.26
240.2 0.92 0.83 11.74
258.4 0.18 0.16 28.20
266.1 0.7 0.66 9.07
44L930 DDH 5654930.5 448519.14 -1549.1947 304.98 -6.8 27.8 246.4 1.86 1.69 2.64
250.4 0.86 0.78 6.17
44L931 DDH 5654930.5 448519.38 -1549.1626 387 -6.2 31.4 219.4 0.77 0.716 4.50
227.8 1.55 1.503 43.33
235.9 0.34 0.314 17.19
242.6 0.61 0.573 11.33
254.5 1.64 1.567 18.82
44L932 DDH 5654930.2 448519.33 -1549.1358 310.5 -6 34.3 55.4 0.86 0.811 7.76
229.2 2.74 2.64 2.64
258.0 7.41 6.413 1.20
270.1 1.1 0.951 7.57

Cowal

Hole ID Hole
Type		 Northing
MGA (m)		 Easting
MGA (m)		 Elevation
AHD (m)		 Hole
Length
(m)		 Dip
MGA		 Azimuth
MGA		 From
(m)		 Interval
1
(m)		 ETW
(m)		 Au
(g/t)
E46D3247 DD 6,279,186 538,290 204 415.78 -56 305 293 4 3.2 5.17
GRUD0125 UgDD 6,278,753 538,391 -9 833.59 -40.5 316.5 17 3 2.4
384 4 3.2 4.31
451 8.1 6.48 4.52
520 28 22.4 2.65
including 522 6 4.8 4.67
and 544 4 3.2
553 27 21.6 3.82
including 576 3 2.4 20.15
592 17 13.6 2.6
680 4 3.2 3.51
GRUD0127 UgDD 6,278,805 538,393 -7 791.68 -36 320 324 7 5.6 21.42

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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		 Azimuth
MGA		 From
(m)		 Interval
1
(m)		 ETW
(m)		 Au
(g/t)
549 5 4 9.99
including 550 1 0.8 44.87
576 5 4 4.91
707 4 3.2 4.83
770 13 10.4 3.87
including 777 4 3.2 10.28
GRUD0129 UgDD 6,278,273 538,389 61 257.71 -31.5 325 182 11 8.25 3.59
231 5 3.75 10.27
GRUD0136 UgDD 6,278,805 538,393 -7 615 -28 321.5 295 4 3.2 2.68
363 27 21.6 2.49
including 383 3 2.4 8.76
404 4 3.2 3.79
426 7 5.6 2.78
485 4 3.2 3.52
524 4 3.2 3.16
534.7 7.3 5.84 9.67
607 2 1.6 6.58
GRUD0139 UgDD 6,278,259 538,444 62 500.37 -49 295 283 94 75.2 5.06
including 283 12 9.6 5.96
and 299 30 24 6.84
including 299 9 7.2 10.08
and 341 20 16 7.07
and 373 4 3.2 8.02
407 2 1.6 6.45
430 1 0.8 14.2
494 1 0.8 21.6
GRUD0140 UgDD 6,278,805 538,393 -7 508.23 -18 321 346 7 5.6 4.71
GRUD0144 UgDD 6,278,259 538,444 62 707.38 -53 316 448 1 0.8 18.3
480 11 8.8 2.78
including 482 1 0.8 17.1
544 5 4 11.16
558 3 2.4 4.06
650 6 4.8 5.03
GRUD0145 UgDD 6,278,805 538,393 -7 499 -12 320 373 5 4 2.75
435 4 3.2 2.62
E41D2893 DD 6,276,623 538,322 207 471.57 -65 180 70.9 22.1 11.05 3.63
including 88.23 3.77 1.88 13.82
118 69 34.5 1.25
324 2 1 18.05
1535DD571 DD 538,389 6,278,558 203.81 549.26 -55 311 160 1 0.75 19
251 1 0.75 10.6
361 1 0.75 94.4
374 2 1.5 6.93
409 3 2.25 5.37
421 3 2.25 3.63
434 7 5.25 3.44
466 3 2.25 3.47
492 6 4.5 5.17
1535DD571A DD 538,389 6,278,558 203.81 566.75 -55 311 248 1 0.75 10.2
431 2 1.5 5.22
469 16 12 3.84
including 477 8 6 6.59

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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		 Azimuth
MGA		 From
(m)		 Interval
1
(m)		 ETW
(m)		 Au
(g/t)
E46D3247A DD 538,290 6,279,186 204 552.32 -56 305 415 9 6.3 3.34
488 2 1.4 4.74
GRUD0092 UgDD 538,040 6,278,891 -47.5 219.88 20.5 54 156 3 1.8 3.93
208 7 4.2 4.1
GRUD0094 UgDD 538,448 6,278,318 62.86 572.63 -39 312 314 7 4.9 4.33
380 2 1.4 25.36
399 15 10.5 2.51
420 2 1.4 15.66
426 11 7.7 3.17
450 3 2.1 7.72
GRUD0102 UgDD 538,152 6,278,474 19.36 229.98 -2 52 75 14.15 7.07 5.74
113.9 2.2 1.54 23.3
GRUD0127 UgDD 538,393 6,278,805 -7 791.68 -36 320 222 1 0.75 11.1
249 5 3.75 2.63
GRUD0142 UgDD 538,391 6,278,753 -9 824.7 -50 307 402 15 12 2.71
439 4 3.2 4.39
450 31 24.8 3.23
484.9 13.1 10.48 3.27
521 7 5.6 2.65
536 15 12 3
556 39 31.2 4.86
including 576 8 6.4 13.24
611 9 7.2 3
655 10 8 2.74
673 22 17.6 3.06
706 7 5.6 2.5
763 7 5.6 2.5
GRUD0143 UgDD 538,444 6,278,259 62 572.34 -46 313 291 10 7 2.99
316 7 4.9 2.54
342 1 0.7 34
472 6 4.2 3.99
483 2 1.4 30.06
494 4 2.8 8.92
519 11 7.7 3.74
GRUD0146 UgDD 538,391 6,278,753 -9 800.14 -51 302 388 2 1.5 5.26
400 6 4.5 3.89
418 6 4.5 3.07
446 26 19.5 4.05
500 8 6 2.59
514 2 1.5 6.04
601 1 0.75 48.9
606 1 0.75 21.3
638 14 10.5 4.5
731 5 3.75 3.04
GRUD0146A UgDD 538,391 6,278,753 -9 698.72 -51 302 571 8 5.6 2.65
610 2 1.4 5.09
GRUD0147 UgDD 538,393 6,278,805 -7 644.16 -30 312 442 4 3.2 2.81
455 18 14.4 3.06
including 461 1 0.8 21.9
484 4 3.2 2.89
498 3 2.4 8.35
570 3 2.4 3.18

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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		 Azimuth
MGA		 From
(m)		 Interval
1
(m)		 ETW
(m)		 Au
(g/t)
GRUD0148 UgDD 538,444 6,278,259 62 689.3 -49 318 409 2 1.4 14.52
522 16 11.2 3.85
GRUD0149 UgDD 538,393 6,278,805 -7 504.1 -29 307 332 1 0.8 14.6
356 1 0.8 12.1
384 6.15 4.92 2.53
GRUD0152 UgDD 538,393 6,278,805 -7 476.41 -24 314 291 1 0.8 11.9
411 3 2.4 4.77
440 15 12 3.05
UGBH_015 UgDD 537,971 6,279,132 -86.05 125.97 4 0 78 4 1 11.17
1535DD453E DD 538,707 6,278,516 203.717 1304.25 -60 280 806 2 1.4 5.36
1535DD544 DD 538,565 6,278,183 208.78 918.26 -57 309 177 1 0.65 12.5
284 1 0.65 76.2
1535DD571B DD 538,389 6,278,558 203.81 609.21 -55 311 428 1 0.75 20.8
492 2.2 1.65 8.19
498 1 0.75 14.6
513 5 3.75 2.88
1535DD571C DD 538,389 6,278,558 203.81 575.12 -55 311 160 1 0.8 12.4
175 2 1.6 5.03
438 1.15 0.92 22.1
438 11 8.8 4.37
475 1 0.8 11.6
1535DD571D DD 538,389 6,278,558 203.81 749.17 -55 311 187 1 0.6 19.6
400 13 8.45 3.07
419 4 2.6 2.52
451 15 9.75 2.58
480 1 0.65 22.3
626 10 6.5 3.55
1535DD571E DD 538,389 6,278,558 203.81 491 -55 311 160.3 0.57 0.39 100
345.9 6.1 4.27 3.16
466 6 4.2 3.16
GRUD0135 UgDD 538,391 6,278,753 -9 725.62 -47 306.5 212 1 0.8 20
464 3 2.1 5.06
497 5 3.5 2.67
512 9 6.3 5.52
530 4 2.8 2.76
545 1 0.7 17.8
556 5 3.5 2.52
566 14 9.8 2.94
610 2 1.4 9.07
634 3 2.1 8.46
642 13 9.1 3.24
670 5.82 4.07 12.6
GRUD0136 UgDD 538,393 6,278,805 -7 615 -28 321.5 12.96 1.04 0.83 11.1
GRUD0140 UgDD 538,393 6,278,805 -7 508.23 -18 321 230 3 2.4 3.43
254 1 0.8 12.5
GRUD0141 UgDD 538,393 6,278,805 -7 722.5 -41 311 15 1 0.8 12.9
307 5 4 21.26
336 1 0.8 10.8
348 1 0.8 14.7
418 7.65 6.12 3.54
445 4 3.2 4.26
476 7 5.6 3.35

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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		 Azimuth
MGA		 From
(m)		 Interval
1
(m)		 ETW
(m)		 Au
(g/t)
519 10 8 2.78
534 10 8 2.84
548 9 7.2 3.25
570 33 26.4 18.97
GRUD0142 UgDD 538,391 6,278,753 -9 824.7 -50 307 227 1 0.8 32.8
291 1 0.8 32.9
360 2 1.6 7.45
GRUD0146A UgDD 538,391 6,278,753 -9 698.72 -51 302 313 1 0.7 23.6
367 11 7.7 3.45
including 372 1 0.7 18.9
415 8 5.6 6.42
445 22 15.4 6
including 449 1 0.7 33.6
and 460 1 0.7 33.1
479 6 3.9 3.27
488 5 3.5 2.89
GRUD0147 UgDD 538,393 6,278,805 -7 644.16 -30 312 11 2 1.6 6.65
GRUD0148 UgDD 538,444 6,278,259 62 689.3 -49 318 38 1 0.7 19.9
GRUD0150 UgDD 538,391 6,278,753 -9 808.85 -54 298 411 4 2.4 3.12
448 1 0.6 11.3
455 7 4.2 7.06
including 455 2 1.2 21.95
482 9 5.4 3.26
525 11 6.6 2.69
612 5 3 3.09
759 5 3 20.05
780 8 4.8 3.58
GRUD0151 UgDD 538,444 6,278,259 62 849.05 -55.5 310 45 2 1.2 16.95
GRUD0151 UgDD 538,444 6,278,259 62 849.05 -55.5 310 433 19 11.4 3.05
472 21 12.6 2.73
506 3 1.8 9.18
551 1 0.6 10.6
700 1 0.6 54.7
GRUD0153 UgDD 538,393 6,278,805 -7 460.43 -20 309 341 6 4.2 3.77
442 1 0.7 26.5
GRUD0154 UgDD 538,391 6,278,753 -9 706.4 -49 298 347 2 1.4 5.16
355 4 2.8 5.25
383 5 3.5 3.33
406 1 0.7 73.4
431 1 0.7 16.95
497 12 8.4 3.24
539 7 4.9 6.9
645 1.5 1.05 12.97
672 4 2.8 26.13
GRUD0155 UgDD 538,444 6,278,259 62 881.56 -55 302 412 9 5.4 3.46
459 4 2.4 3.03
474 2 1.2 8.66
528 1 0.6 13.2
627 5 3 5.48
801 4 2.4 4.14
GRUD0156 UgDD 538,314 6,278,751 -11 392.1 -46 307.5 232 3 2.1 4.65
377 1 0.7 12.4

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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		 Azimuth
MGA		 From
(m)		 Interval
1
(m)		 ETW
(m)		 Au
(g/t)
GRUD0157 UgDD 538,314 6,278,751 -11 470.11 -50.5 307 89 3 2.1 8.32
249 4 2.8 5.8
288 2 1.4 5.36
330 8 5.6 3.91
346 22 15.4 2.87
394 3 2.1 12.07
416 4 2.8 2.57
GRUD0158 UgDD 538,314 6,278,751 -11 479.6 -48.5 311 28 2 1.5 10.79
322 6 4.5 5.19
368 7 5.25 2.59
470 3.7 2.77 8.53
GRUD0159 UgDD 538,314 6,278,751 -11 371.51 -41 308 80 4 3.2 2.53
91 1 0.8 39.6
282 19 15.2 4.92
GRUD0160 UgDD 538,391 6,278,753 -9 701.65 -46 301 324 7 4.55 9.89
352 19 12.35 3.15
including 368 3 1.95 11.94
423 15 9.75 3.27
including 435 3 1.95 12.52
458 11 7.15 3.48
473 5 3.25 9.98
including 477 1 0.65 46.1
GRUD0161 UgDD 538,314 6,278,751 -11 422.6 -46 315 284 5 4 2.74
313 3 2.4 4.39
330 5 4 3.6
398 2 1.6 15.9
GRUD0163 UgDD 538,391 6,278,753 -9 512.64 -48.5 293 411 11 6.6 3.24
473 3 1.8 4.88
488 5 3 3.78
GRUD0166 UgDD 538,393 6,278,805 -7 861 -41.5 318 265 4.25 3.4 2.99
431 3 2.4 5.47

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		 Azimuth
MGA		 From
(m)		 Interval1
(m)		 ETW
(m)		 Au
(g/t)
EVDD0115 DD 6595523.17 333791.24 338.26 223.20 -63.53 46.98 166.00 1.00 0.83 2.87
EVDD0115 DD 6595523.17 333791.24 338.26 223.20 -63.53 46.98 182.90 0.30 0.25 36.10
EVDD0117 DD 6595442.18 333750.40 343.62 314.00 -66.39 40.66 269.00 0.30 0.24 53.67
EVDD0118 DD 6595463.77 333744.02 343.30 293.10 -64.04 50.76 253.24 0.40 0.33 98.67
EVDD0119 DD 6595437.43 333741.83 343.74 340.30 -70.17 45.57 298.36 0.30 0.23 13.53
EVDD0120A DD 6595399.76 333754.21 343.83 342.00 -62.93 42.58 293.38 1.12 0.94 59.86
EVDD0122 DD 6595380.21 333767.45 342.94 367.00 -68.76 35.54 306.35 0.20 0.16 31.80
EVDD0122 DD 6595380.21 333767.45 342.94 367.00 -68.76 35.54 307.00 0.50 0.39 4.72
EVDD0122 DD 6595380.21 333767.45 342.94 367.00 -68.76 35.54 308.00 0.20 0.16 31.40
EVDD0123 DD 6595386.14 333775.61 342.49 327.00 -58.59 45.00 No significant intercept
EVDD0124 DD 6595312.30 333813.69 343.73 356.00 -58.53 45.00 No significant intercept

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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		 Azimuth
MGA		 From
(m)		 Interval1
(m)		 ETW
(m)		 Au
(g/t)		 Au
(g/t)
EVDD0125 DD 6595325.13 333855.39 343.47 305.08 -58.35 38.00 No significant intercept
EVDD0126 DD 6595536.10 333846.00 338.09 175.60 -58.22 58.00 No significant intercept
EVDD0127 DD 6595366.45 333768.91 343.74 372.10 -68.16 44.08 313.00 1.00 0.78 1.74
EVDD0127 DD 6595366.45 333768.91 343.74 372.10 -68.16 44.08 316.00 2.00 1.57 1.06
EVDD0128 DD 6595298.56 333798.51 344.26 407.00 -64.50 42.55 368.00 2.25 1.85 3.99
EVDD0129 DD 6595289.87 333691.92 342.28 465.40 -61.78 45.36 420.30 0.30 0.25 12.08
BMDD0001 DD 6595469.46 333788.22 339.04 250.00 -60.55 43.27 219.70 0.53 0.46 31.13
BMDD0002 DD 6595475.94 333810.88 338.11 240.10 -59.97 45.00 No significant intercept
BMDD0003 DD 6595495.34 333829.72 337.84 210.03 -60.43 42.71 183.00 1.13 0.97 2.28
BMDD0004 DD 6595431.50 333827.14 338.55 260.11 -61.10 46.01 235.77 0.23 0.20 6.29
BMDD0004 DD 6595431.50 333827.14 338.55 260.11 -61.10 46.01 237.87 0.23 0.20 37.75
BMDD0005 DD 6595458.77 333848.97 337.84 230.00 -60.58 45.42 207.95 0.40 0.35 1.69
BMDD0006 DD 6595359.09 333889.64 338.14 228.20 -51.57 43.18 187.00 0.30 0.20 1.20
BMDD0006 DD 6595359.09 333889.64 338.14 228.20 -51.57 43.18 191.20 0.50 0.33 1.65
BMDD0006 DD 6595359.09 333889.64 338.14 228.20 -51.57 43.18 210.00 0.50 0.46 1.82
BMDD0007 DD 6595335.29 333893.97 338.30 254.26 -58.31 44.29 227.63 1.37 1.20 2.50
BMDD0007 DD 6595335.29 333893.97 338.30 254.26 -58.31 44.29 236.43 0.21 0.18 1.11
BMDD0008 DD 6595317.87 333904.76 338.62 240.43 -46.92 44.58 188.65 0.35 0.33 1.23
BMDD0008 DD 6595317.87 333904.76 338.62 240.43 -46.92 44.58 205.70 6.30 6.00 1.49
BMDD0008 DD 6595317.87 333904.76 338.62 240.43 -46.92 44.58 213.90 0.60 0.57 3.14
BMDD0009 DD 6595311.00 333897.96 339.15 259.00 -55.23 43.16 210.40 0.60 0.54 1.64
BMDD0009 DD 6595311.00 333897.96 339.15 259.00 -55.23 43.16 227.00 2.10 1.89 2.70
BMDD0010 DD 6595302.29 333917.41 338.54 244.33 -53.67 43.14 191.00 1.00 0.91 1.22
BMDD0010 DD 6595302.29 333917.41 338.54 244.33 -53.67 43.14 201.30 0.70 0.64 1.05
BMDD0010 DD 6595302.29 333917.41 338.54 244.33 -53.67 43.14 207.00 1.00 0.91 3.14
BMDD0010 DD 6595302.29 333917.41 338.54 244.33 -53.67 43.14 214.97 0.25 0.23 2.09
BMDD0010 DD 6595302.29 333917.41 338.54 244.33 -53.67 43.14 216.00 1.00 0.91 1.15
BMDD0010 DD 6595302.29 333917.41 338.54 244.33 -53.67 43.14 224.94 0.33 0.30 1.92
BMDD0011 DD 6595293.68 333908.52 339.08 268.30 -59.22 44.92 228.00 1.00 0.87 1.21
BMDD0011 DD 6595293.68 333908.52 339.08 268.30 -59.22 44.92 236.00 3.31 2.88 2.06
BMDD0011 DD 6595293.68 333908.52 339.08 268.30 -59.22 44.92 243.00 1.00 0.87 1.00
BMDD0012 DD 6595262.67 333902.23 341.58 286.00 -57.25 43.77 252.80 0.40 0.36 1.33
BMDD0012 DD 6595262.67 333902.23 341.58 286.00 -57.25 43.77 273.22 0.23 0.20 1.51
BMDD0019 DD 6595625.22 333840.90 338.17 95.00 -60.13 42.30 76.15 0.85 0.73 4.98
BMDD0020 DD 6595640.18 333855.02 338.44 85.20 -60.87 44.71 60.60 0.60 0.51 2.70
BMDD0021 DD 6595593.33 333811.75 338.30 130.30 -58.90 44.55 94.50 0.50 0.44 1.03
BMDD0021 DD 6595593.33 333811.75 338.30 130.30 -58.90 44.55 111.80 0.32 0.28 1.06
BMDD0021 DD 6595593.33 333811.75 338.30 130.30 -58.90 44.55 114.00 1.05 0.92 3.07
BMDD0022 DD 6595576.22 333796.93 338.35 155.00 -59.91 42.42 120.48 0.52 0.45 1.30
BMDD0022 DD 6595576.22 333796.93 338.35 155.00 -59.91 42.42 133.10 0.31 0.27 2.14
BMDD0022 DD 6595576.22 333796.93 338.35 155.00 -59.91 42.42 144.95 0.25 0.22 18.40
BMDD0023 DD 6595607.74 333825.32 338.25 115.10 -59.56 44.42 81.12 1.45 1.26 4.41
BMDD0023 DD 6595607.74 333825.32 338.25 115.10 -59.56 44.42 96.85 0.81 0.70 1.25
BMDD0024 DD 6595529.59 333772.61 338.87 210.00 -60.73 44.10 149.60 0.30 0.26 0.63
BMDD0024 DD 6595529.59 333772.61 338.87 210.00 -60.73 44.10 175.00 1.00 0.86 1.50
BMDD0024 DD 6595529.59 333772.61 338.87 210.00 -60.73 44.10 179.55 0.65 0.56 0.92
BMDD0024 DD 6595529.59 333772.61 338.87 210.00 -60.73 44.10 185.00 1.00 0.86 1.11
BMDD0025 DD 6595519.93 333772.70 339.02 220.30 -63.63 44.90 No significant intercept
BMDD0026 DD 6595539.39 333793.29 338.45 190.30 -61.17 44.05 159.00 2.00 1.70 2.15
BMDD0026 DD 6595539.39 333793.29 338.45 190.30 -61.17 44.05 168.44 0.43 0.37 2.01
BMDD0027 DD 6595525.94 333808.05 338.17 195.00 -60.29 43.22 161.00 1.00 0.86 1.10
BMDD0027 DD 6595525.94 333808.05 338.17 195.00 -60.29 43.22 162.80 0.46 0.40 1.20

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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		 Azimuth
MGA		 From
(m)		 Interval1
(m)		 ETW
(m)		 ETW
(m)		 Au
(g/t)		 Au
(g/t)
BMDD0028 DD 6595572.81 333839.94 338.27 150.00 -60.64 43.71 94.70 0.30 0.26 1.22
BMDD0028 DD 6595572.81 333839.94 338.27 150.00 -60.64 43.71 98.00 1.00 0.86 1.19
BMDD0028 DD 6595572.81 333839.94 338.27 150.00 -60.64 43.71 120.30 0.40 0.34 18.44
BMDD0029 DD 6595542.43 333818.37 338.06 181.10 -60.16 44.44 123.48 0.52 0.45 1.63
BMDD0029 DD 6595542.43 333818.37 338.06 181.10 -60.16 44.44 147.73 0.47 0.40 6.31
BMDD0030 DD 6595430.00 333851.28 339.11 246.20 -61.26 43.97 224.95 0.79 0.67 133.80
BMDD0031A DD 6595381.31 333857.12 338.70 270.00 -60.63 44.86 238.50 0.50 0.43 1.74
BMDD0031A DD 6595381.31 333857.12 338.70 270.00 -60.63 44.86 248.65 0.48 0.41 1.21
BMDD0032 DD 6595396.75 333872.82 338.20 252.20 -60.82 45.00 No significant intercept
BMDD0033 DD 6595384.10 333889.76 338.11 222.00 -47.51 46.46 182.00 1.26 1.19 9.20
BMDD0033 DD 6595384.10 333889.76 338.11 222.00 -47.51 46.46 198.00 0.42 0.40 1.45
BMDD0034 DD 6595587.76 333867.39 337.95 124.00 -60.60 42.67 95.10 0.46 0.40 8.50
BMDD0035 DD 6595617.42 333896.25 337.88 87.04 -60.44 43.13 51.49 0.39 0.33 2.60
BMDD0036 DD 6595570.34 333878.48 337.79 130.00 -60.09 44.00 No significant intercept
BMDD0037 DD 6595586.09 333892.70 337.86 108.00 -45.74 62.00 No significant intercept
BMDD0038 DD 6595556.22 333883.78 337.72 122.00 -60.08 49.00 No significant intercept
BMDD0039A DD 6595509.20 333872.33 338.10 144.93 -45.60 45.00 No significant intercept
BMDD0040 DD 6595475.39 333870.97 337.80 186.00 -45.20 45.00 No significant intercept
BMDD0041 DD 6595447.78 333837.21 338.11 250.00 -60.82 44.42 218.91 0.57 0.49 1.77
BMDD0042 DD 6595463.91 333868.41 337.72 208.20 -59.14 45.00 No significant intercept
BMDD0043 DD 6595434.56 333883.79 338.62 208.20 -54.23 37.91 No significant intercept
BMDD0044 DD 6595423.52 333881.04 338.65 215.00 -54.03 47.60 166.00 2.00 1.81 3.40
BMDD0045 DD 6595391.41 333872.01 338.30 241.10 -53.32 47.00 No significant intercept

Crush Creek JV

Hole ID Hole Northing NAD83 Easting
NAD83		 Elevation Hole
Lenth		 Dip Azimuth From From Interval1 Interval1 ETW
Au
Type (m)
(m)		 (m) g
(m)		 NAD83 NAD83 (m) (m) (m) (g/t)
DE20DD00012 DD 7738521 584437 301 168.4 -45.14 168.4 94 1 1 3.72
DE20DD00012 DD 7738521 584437 301 168.4 -45.14 168.4 108 7 7 0.52
DE20DD00012 DD 7738521 584437 301 168.4 -45.14 168.4 126.45 0.5 0.5 304.00
DE20DD00015 DD 7738331 584600 327 160.8 -49.8 245.24 84 5.5 5.5 0.8
DE20DD00015 DD 7738331 584600 327 160.8 -49.8 245.24 92 2 2 1.9
DE20DD00015 DD 7738331 584600 327 160.8 -49.8 245.24 97.6 6.4 6.4 1.12
including 103 1.0 1.0 4.59
DE20DD00019 DD 7738414 584542 328 111.64 -50.12 244.14 No significant intercept

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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 either
BQTK (40.7mm) or 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 1940’s. 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
HG Young, Abino, McMarmac, Gold Eagle Mine, and McKenzie
Red Lake mines.

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 2 Reporting of Exploration Results Reporting of Exploration Results
Criteria Explanation Commentary
Geology •Deposit type, geological setting and
style of mineralisation.		 •
The mineralisation 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 mineralisation
in the area. Other significant mineralised 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 mineralisation 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 mineralisation. It
is common for zones to have multiple styles of mineralisation
within the same host lithology. There are four styles of
mineralisation 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 gxm is less then 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 an NSA
value for g/t.
•
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.		 •
At Red Lake Operations where reliable estimated true widths
can be calculated these have been included along with down
holemeasurements.

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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
•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’) _
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 drill locations of Twin Otter collars
from 44L
Plan view showing drill locations of Twin Otter collars
from 46L
Section highlighting pierce point of drill hole from June
Quarter at Twin Otter

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

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

Red Lake Operations Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
Plan view showing drill locations of Deep sulphides
collars
Section highlighting pierce point of drill hole from June
Quarter at Deep Sulphide
Plan view showing drill locations of Cochenour collars -
3735
Plan view showing location of drill holes and targeted area,
collared underground from 4485 Exploration Drift at the
Cochenour Complex (no clipping).
----- End of picture text -----

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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 4485 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.		 •
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
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 FY20

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		 •
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

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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
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).		 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.
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

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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
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.
•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 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 interval are reviewed for half core samples and if
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

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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
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.
•Discuss any adjustment to assay data		 •
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
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		 •
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.
•
The Drilling at Galway Regal is oriented perpendicular to the
known mineralised package.

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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
should be assessed and reported if
material.
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.
•
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
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.

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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 Cowal Section 2 Reporting of Exploration Results
Criteria Explanation Commentary
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
and, as a consequence, 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 230m 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
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).

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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
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 plans for reported drilling at Cowal is
provided below. A representative section is provided.
Drill hole location plan
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		 •
Results from these programs will be incorporated into current
models and interpretations and further work will be
determined based onthe outcomes.

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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
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.

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
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 Mungari was undertaken
using diamond core (surface) and reverse circulation (RC) drill
chips.
•
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.		 •
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 corewasreconstructedinto continuousruns on

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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
•
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.		 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 MineReconciliationperformancewhere 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.
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.
•
There are two assay analysis methods used for Boomer
diamond samples; samples with visible gold in the laminated
quartz vein, have four 40g charges extracted from the parent
pulp sample bag and fire assayed with the average used for final
reporting. Thisis tomanage thevariabilityinassay grades due

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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
to the nuggetty gold. Boomer vein intercepts without visible gold
have the standard 1 x 40g fire assay as described above.
•
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
accuracy (i.e. lack of bias) and
precision have been established.		 •
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.
•
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 control
checks 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		 •
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.

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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
other
locations
used
in
Mineral
Resource estimation.
•Specification of the grid system used.
•Quality and adequacy of topographic
control.		 •
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
detailedLidarsurveys to 0.2maccuracy.
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 Boomer is hosted within a narrow, folded,
laminated quartz vein, predominantly dipping 65° towards the
south-west, with a shallow south-east plunge. The mineralised
structure lies within a 35m wide shear zone dipping 70° west.
Surface and underground drilling intersect the mineralisation at
an angle to minimise bias.
•
The relationship between the drilling orientation and the
orientation of key mineralised structures at Mungari 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 ore domains in an orientation that does not introduce
sample bias. A small number of holes are drilled at sub-optimal
orientations to testforalternate 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 protocols
haveremained 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,		 •
Resource Definition drilling was undertaken on the
following tenements: M15/688, M15/1827
•
Exploration drilling was undertaken on the following
tenements: M15/0688
•
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.

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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
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.
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 Boomer prospect is located in the southern portion of the
Kundana mining area, within the Achaean Norseman-Wiluna
greenstone belt of the Eastern Goldfields Province. The
Kundana gold deposits are structurally related to the Zuleika
Shear Zone, a regional NNW-trending shear zone that
juxtaposes the Ora Banda domain to the east and the
Coolgardie domain to the west. The Boomer prospect is
located on the sheared contact between the Black Flag Group
turbidites and andesites and andesitic volcaniclastic rocks of
White Flag Group.
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 Boomer 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.		 •
There is a direct relationship between the mineralisation widths
and intercept widths at Mungari.
•
The assay results are reported as down hole intervals however
an estimate of true width is provided in Appendix.

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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
•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’) _
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.
Location of the Boomer drill holes in plan view for June
quarter
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
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 Mungari site. Other works include field mapping
and geophysical surveys.
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 planned for FY21

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APPENDIX 2 – JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

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. Sampling was carried out according to
Evolution protocols and QAQC procedures which comply with
industry best practice. 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 drillcore 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. All
diamond core 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 and Zn were also 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)
and HQ (63.5mm diameter) holes.
•
All diamond core from surface core was orientated using the
digital Reflex Act lll bottom of hole orientation 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.		 •
All diamond core was orientated and measured during
processing and the recovery of individual core runs recorded
into the drill-hole database. 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 include drilling
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.

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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
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 have been geologically logged to the level of
detail required for Mineral Resource estimation.
•
All logging is both qualitative and quantitative in nature
recording features such as structural data, sample recovery,
lithology, mineralogy, alteration, mineralisation types, vein
density, oxidation state, weathering, colour etc. All holes are
photographed wet.
•
All diamond holes were logged in entirety from collar to end of
hole.
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 from surface was half core sampled and
the remaining half was retained.
•
Sample preparation of diamond samples was undertaken by
external laboratories according to the sample preparation and
assaying protocol established to maximise the representation of
low-sulphidation
epithermal
style
Au-Ag
mineralisation.
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		 •
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 by2acids (HCIandHN03) before the gold contentis

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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
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.		 determined by an AAS machine. When higher grades (>20 g/t
Au) are reported by the AAS machine, 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
anticipated mineralisation. Quartz flushes are routinely
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 verification has not started
yet at Crush Creek. 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
sufficient 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.		 •
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
occurgiventhe early stage ofexplorationand understanding of

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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
•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.		 the geology.
•
The relationship between the drilling orientation and the
orientation of mineralised structures at Crush Creek is not
considered to have introduced a sampling bias and is not
considered to be material. Estimated True Width’s (ETW) of
mineralised intersections are shown in the Drill Hole Information
Summary 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
and BV7 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 activites 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 stream sediment and rock chip geochemistry.
•
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

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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
Criteria Explanation Commentary
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
volcanic 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 above 5gram*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 Evolutions
protocols. Open-hole drilling can cause contamination in drill
samples, particularly in a narrow high-grade gold environment.
•
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.

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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
Criteria Explanation Commentary
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.
•
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:
Delta Prospect Section A-A’ looking Northwest
Location plan showing drillhole collar locations at Crush
Creek during the June quarter
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.

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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
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.		 •
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 both the Delta and BV7 prospects.

Evolution Mining Limited Quarterly Report June 2020

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