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EVOLUTION MINING LIMITED Regulatory Filings 2023

Aug 7, 2023

64885_rns_2023-08-07_7af1526d-c7e6-4dd6-ac92-e3709a2e7aac.pdf

Regulatory Filings

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MUNGARI SITE VISIT UNLOCKING LONG-TERM RETURNS IN KALGOORLIE SESSION 1

➢

Scott Barber – General Manager 8 August 2023

PRODUCTION TARGET

Mungari Production Target and relevant proportions of Mineral Resources and Ore Reserves underpinning the Production Target

The Mungari Production Target of 1.9Moz to 2.7Moz between FY24 and FY38 comprises 3% Proved Ore Reserves, 49% Probable Ore Reserves, 19% Indicated Mineral Resources, 18% Inferred Mineral Resources and 11% Exploration Targets. 1

Cautionary statement concerning the proportion of Inferred Mineral Resources

There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised.

Cautionary statement concerning the proportion of Exploration Targets

Of Mungari's 1.9Moz to 2.7Moz production target, 11% is comprised of an Exploration Target. The potential quantity and grade of this Exploration Target is conceptual in nature and there has been insufficient exploration to determine a Mineral Resource and there is no certainty that further exploration work will result in the determination of Mineral Resources or that Production Target itself will be realised. See ASX release titled "Mungari Mine Life Extended to 15 Years at 18 to 20% Lower AISC", released 5 June 2023 and available to view at www.evolutionmining.com.au for further information on the Exploration Target.

Material Assumptions

The material assumptions on which the Mungari Production Target is based are presented in the ASX release titled "Mungari Mine Life Extended to 15 Years at 18 to 20% Lower AISC" dated 5 June 2023 and available to view at www.evolutionmining.com.au

Production Target Competent Persons' Statement

The Estimated Mineral Resources and Ore Reserves underpinning the Mungari Production Target have been prepared by Competent Persons in accordance with the requirements in Appendix 5A (JORC Code).

The Company confirms that all material assumptions underpinning the production targets and forecast financial information derived from the production targets in the 5 June 2023 release continue to apply and have not materially changed.

  1. Proportions quoted are based on the material classifications of the entire Production Target and is inclusive of material attributable to the East Kundana Joint Venture

FORWARD LOOKING STATEMENT

These materials 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.

All amounts are expressed in Australian dollars unless stated otherwise.

This presentation has been approved for release by the Executive Chair, Jake Klein.

Acknowledgement of Country

"Evolution would like to acknowledge the Traditional Custodians of the land on which we operate and on which we meet today, and pay our respects to Elders past, present, and emerging, for they hold the memories, the traditions, the culture and the hopes for Aboriginal people.

We acknowledge the elders for your resilience to pave the way for the generations after and we acknowledge those who continue to educate and empower to maintain and protect all aspects of Aboriginal heritage and culture."

4

Note: Artwork 'Care for Country' by Gubbi Gubbi artist Maggie-Jean Douglas

MUNGARI – CORNERSTONE ASSET

  • Consolidated regional ownership
  • Track record of stable and consistent operations
  • Expansion is a logical evolution of the region
  • Unlocking long term potential
  • Life of Mine (LOM) to ~2038
  • Targeting ~200kozpa
  • Mill expansion simple, typical WA goldfields kit
  • Discovery multiple opportunities to add resources
  • Mining focus on three mining centres for at least 5 years

High-return, low-cost, longer Life of Mine = cornerstone asset

MUNGARI – COMPELLING EXPANSION ECONOMICS

Feasibility study outcomes

  • Capital investment of \$250M
  • 30-month construction to March 2026
  • Increase throughput to 4.2Mtpa from 2Mtpa
  • Planned annual production 155koz (LOM) and 200koz (FY27-32)
  • Mine life of 15 years to 2038 with extension potential
  • Economics justify the investment now
  • Incremental NPV of \$260M and IRR of 19% at \$2,400/oz
    • Increases to NPV of \$600M and IRR of 28% at spot price
  • Payback of three years (1½ years at spot prices)
  • Reduces AISC by ~18% to LOM average of ~\$1,750/oz
  • Material upside at spot prices
  • Hedging in place as part of prudent capital management

Mungari expansion – 19% IRR, 15 year mine life at average AISC ~\$1,750/oz

1Payback period is years from commissioning 2Base case values calculated for a gold price of \$2,400/oz 3Spot price scenario calculated at a gold price of \$2,965/oz

MUNGARI – POSITIONING IN EVOLUTION

EMPLOYER OF CHOICE

  • ✓ People underpin our success, supported by our Values
  • ✓ Well established programs to recognise outstanding employee contributions and foster talent development:
  • 'Act Like an Owner' Program
  • Gold and Silver Leadership Programs
  • ✓ Strong partnerships with JTAcademy, Work180 and Gold Industry Group support our commitment to diversity
  • ✓ Stronger focus on employee engagement significantly reduced Mungari turnover during last 12 months

Award winning graduate program

  • Representatives from all intakes since 2013 still with the business
  • Graduates in 2022 Australian Association of Graduate Employers (AAGE) survey rated Evolution as the best mining company to work for in Australia

OUR

SUSTAINABILITY

Risk & Safety Performance

  • Clear value of Health & Safety
  • TRIF of 12.8 (June 2023)
  • Continued focus on critical risk management
  • Strong hazard reporting culture

Strong Local Community Support

  • Continuing to invest in the community with ongoing local partnerships with schools, universities, charity organisations, sporting groups
  • Community investment FY23: \$380,000
  • Evolution is the second largest employer in the Kalgoorlie Region
  • 76% (458) of our people currently live locally
  • ~\$46M spend in FY23 with local businesses

Environmental Stewardship

  • 30% reduction in GHG emissions by 2030 and Net Zero by 20501
  • Well established environmental governance and assurance practices

D E L I V E R I N G L O N G-T E RM S TAK E H O L D E R VAL U E T H R O U G H S AF E , L O W - C O ST G O L D P R O D U C T I O N I N AN E N V I R O NM E N TAL LY AN D S O C I AL LY R E S P O N S I B L E M AN N E R

9

FOUNDATIONS ESTABLISHED OVER PAST 2 YEARS

Operational stability: Quarter on quarter delivery

  • Harmonised working structures
  • Standardised renumeration
  • Gaining operational synergies

Successful integration: 3 distinct operations into 1

  • Mungari, Kundana and East Kundana now unified
  • Grade lifted as planned

Regional consolidation: Significant Mineral Resource

  • Key opportunity identified delivered
  • Mineral Resources and Ore Reserves increased almost two-fold
  • Mineral Resource now ~5Moz

Favourable benchmarking: Leader in the region to peers

  • Compares well with peer group in Eastern Goldfields
  • Bottom quartile AISC and long-life vs regional peers

Earned the right: Now is the time to realise full returns

  • Mungari has earnt the right for investment
  • Feasibility Study outcomes are compelling

MILL EXPANSION UNLOCKS SIGNIFICANT VALUE

  • Mungari Mill expansion – key enabler for region
  • Conventional crush and grind circuit, with conventional technologies
  • Metallurgical testing completed outcomes favourable
  • Mill capacity to double, processing unit cost reduced ~30%
  • Mungari Mill expansion key metrics1 :
  • Extends life to 15 years at average production of ~155kozpa
  • Average AISC \$1,750/oz with \$1,215/oz margin at spot
  • Incremental NPV of \$260M at \$2,400/oz and \$600M at spot
  • Incremental IRR 19% at \$2,400/oz and 28% at spot price
  • Short payback of 3 years and 1½ years at spot price

  1. See ASX release titled "Mungari Mine Life Extended 15 years at 18% lower AISC and higher production" dated 5 June 2023 for information on the Future Growth Project Feasibility Study available to view at www.evolutionmining.com.au

LONG-TERM FUTURE ON SOLID FOUNDATIONS

Current state

2.0Mtpa processing capacity

Gold Production 130,000oz (FY24 Guidance +/-5%)

AISC \$1,930/oz (FY24 Guidance +/-5%)

Mill expansion project

✓ Simple plant design

✓ Unlocks regional ore sources

✓ Processing unit costs ~30% lower

✓ Capex ~\$250M

& quick payback ✓ Was planned for FY24 with Kundana an enabler

4.2Mtpa nominal processing capacity

Future

Pathway to 15 years at ~200kozpa

AISC reduction By ~18%

~30 month build

Key messages

15-year mine life Reduced AISC ~18% lower

LOM production average: 155kozpa1 FY27-32: ~200kozpa1 Conventional mining Three ore sources first 5 years Compelling NPV, IRR,

  1. See slide 3 of this presentation for information on the Mungari Production Target Note: Dollar amounts are shown in AUD

12

Feasibility Study confirms compelling investment case

MUNGARI UNLOCKING LONG-TERM RETURNS IN KALGOORLIE SESSION 2

➢➢

Scott Barber – General Manager Brad Daddow – Manager Geology, Discovery Shane Barker – Manager Processing 8 August 2023

THREE MINING CENTRES

  • Three secure, well-known and low-risk ore sources:
  • Kundana (high grade underground ore source)
  • Castle Hill (base load open pit ore source)
  • Paradigm (base load ore source)
  • Initial mining is focused on the near field deposits
  • Conventional mining method for Eastern Goldfields

MUNGARI RESERVE GROWTH STRATEGY

  • ✓ Strategy is to continue to supply high-grade underground ore and baseload feed from open pits, maintaining a 200koz pa production rate for 10+ years at the 4.2Mtpa processing rate
  • ✓ December 2022 Mineral Resource increased by 10% year-on-year to 5.3Moz (net of mining depletion)
  • ✓ Organic growth via the drill bit discovery cost of \$47/oz, matching regional average
  • ✓ Significant Inferred Mineral Resource of 2Moz near mine growth opportunities
  • ✓ Reserve growth strategy supports the Plant Expansion Project
  • ✓ 124km of drilling planned in FY24
  • ✓ Prioritising resource work at three mining centres: Kundana, Paradigm and Castle Hill

Significant discovery program to support Ore Reserve growth

GEOLOGICALLY PROSPECTIVE ASSET

Tenure spans 45km of strike over two major structural corridors

  • 7Moz Zuleika Shear Zone1
  • 2Moz Kunanalling Shear Zone1
  • 700koz Carbine Thrust1

Significant Mineral Resource of 5.3Moz

  • 70% of Mineral Resources are within 3 mining centres
  • Kundana high-grade underground ore feed
  • Castle Hill base load open pit ore feed
  • Paradigm underground and open pit ore feed
  • Significant 2Moz Inferred Mineral Resource numerous near mine growth opportunities for upgrade to Ore Reserve
  • Potential to double the current Ore Reserve

KUNDANA CENTRE UPSIDE

Discovering new high-grade veins

  • Exploration historically focused on the two main lines of lode (Centenary Main Vein and Strzlecki/Xmas)
  • Recent success on newly identified lodes preserved as stacked ore zones in the hanging wall at Xmas (Genesis and Exodus)
  • FY24 drilling to expand high grade reserves enabling lateral production fronts higher in the mining sequence

Further information on exploration results is provided in the Drill Hole Information Summary and JORC Code 2012 Table 1 presented in the Appendix of this presentation. Reported intervals are downhole widths as true widths are not currently known. An estimated true width (etw) is provided where available

KUNDANA CENTRE UPSIDE – RALEIGH

Reinterpreted the location of the postmineral Lucifer Fault

  • Created space to the north along strike extending the Raleigh Main Vein (RMV)
  • New model confirmed by drilling which has returned numerous high-grade intercepts
  • Opportunity to expand Ore Reserve into this newly defined space

Further information on exploration results is provided in the Drill Hole Information Summary and JORC Code 2012 Table 1 presented in the Appendix of this presentation. Reported intervals are downhole widths as true widths are not currently known. An estimated true width (etw) is provided where available

CASTLE HILL CENTRE UPSIDE

  • Base load ore source with upside potential
  • Ore Reserve shell optimised on all Mineral Resource classifications (MI&I1 )
  • Opportunity to convert Inferred Mineral Resource to Ore Reserves within the existing pit design
  • Mineralisation extends down-dip – potential to expand the Ore Reserve through Mineral Resource conversion at depth

PARADIGM CENTRE UPSIDE

Base load and high-grade underground

  • Open pit pre-stripped in FY23 with FY24 production a gateway to the high-grade underground
  • FY23 drilling delivered 50% increase in Mineral Resource to 270koz (as at Dec 2022)
  • Drilling below the pit confirmed historic highgrade results and extended mineralisation down-dip
  • Resource extension drilling scheduled when underground mining begins (FY26)

Further information on exploration results is provided in the Drill Hole Information Summary and JORC Code 2012 Table 1 presented in the Appendix of this presentation. Reported intervals are downhole widths as true widths are not currently known. An estimated true width (etw) is provided where available

Paradigm

CONFIDENCE IN SUSTAINING 200KOZPA

  • ✓ Large land holding with significant Mineral Resource of 5.3Moz
  • ✓ Significant Inferred Mineral Resource of 2Moz – opportunities for conversion to Ore Reserves
  • ✓ 124km drilling in FY24
  • ✓ Geology work progressing to evaluate multiple near mine growth opportunities

Significant discovery program to support Ore Reserve growth

KEY TAKEAWAYS

Compelling expansion economics underpin 15 year mine life

Simple, brownfield plant expansion to 4.2Mtpa

200kozpa for first five years1

5Moz endowment – Discovery opportunity to sustain 200kozpa to FY38+

KUNDANA EXPLORATION RESULTS

Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi (MGA) Hole Depth From To DH Width Grade g/t
Au		 True
Width
MBRT22016A 331556 6599834 25 -50 40 257.45 22.35 23.15 0.8 15.3 0.04
XMRSD21001 331509 6599843 26 -45 51 211.7 47.15 47.45 0.3 11.6 0.27
XMRSD21008 331508 6599843 26 -46 28 302 45.82 46 0.18 83.8 0.07
XMRSD21010 331508 6599843 26 -32 15 318 43.44 43.67 0.23 12.3 0.16
XMRSD22016 331503 6599844 26 -65 25 288.63 55.55 56.85 1.3 20.8 1
XMRSD22017 331504 6599844 26 -45 43 219.22 48.3 48.4 0.1 34.5 0.1
XMRSD22020 331503 6599844 26 -59 26 279.01 52.35 53.42 1.07 189.6 1.07
XMRSD22021 331504 6599844 26 -54 17 309.7 51.31 52.3 0.99 50.5 0.12
XMRSD22022 331504 6599844 26 -60 17 299.98 53.24 54.31 1.07 50.0 1
XMRSD22023 331503 6599844 26 -57 10 337.04 52.42 52.69 0.27 49.5 0.15
XMRSD22023 331503 6599844 26 -57 10 337.04 53.7 54.2 0.5 4.7 0.4
XMRSD22024 331503 6599844 26 -55 4 341 52.75 53.52 0.77 11.1 0.3
XMRSD22024 331503 6599844 26 -55 4 341 54.56 54.61 0.05 7.0 0.1
XMRSD22024 331503 6599844 26 -55 4 341 61.02 61.26 0.24 7.4 0.23
XMRSD22027 331504 6599844 26 -46 15 309.9 48 49 1 12.0 0.1
XMRSD22027 331504 6599844 26 -46 15 309.9 49.4 49.76 0.36 25.3 0.35

Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi (MGA) Hole Depth From To DH Width Grade g/t
Au		 True
Width
CHCD17005A 331195 6600169 345 -71 68 693.9 478.77 479.07 0.3 26.6 0.09
CHCD17005A 331195 6600169 345 -71 68 693.9 671.13 671.9 0.77 24.89 0.65
MZRT20135 331639 6600393 97 -45 252 591.43 275.69 276.16 0.47 9.3 0.28
MZRT20135 331639 6600393 97 -45 252 591.43 402.8 403.1 0.3 11.9 0.17
MZRT20135 331639 6600393 97 -45 252 591.43 427.06 427.41 0.35 8.6 0.2
MZRT20135 331639 6600393 97 -45 252 591.43 438.8 439.1 0.3 4.8 0.17
MZRT20135 331639 6600393 97 -45 252 591.43 466.3 466.61 0.31 4.4 0.18
MZRT20135 331639 6600393 97 -45 252 591.43 493.24 493.8 0.56 73.3 0.2
MZRT20135 331639 6600393 97 -45 252 591.43 510.83 510.96 0.13 300 0.1
MZRT20135 331639 6600393 97 -45 252 591.43 524.55 524.85 0.3 10 0.17
MZRT20135 331639 6600393 97 -45 252 591.43 557.96 558.96 1 3.8 0.6
MZRT20135 331639 6600393 97 -45 252 591.43 564 565 1 4.5 0.6
MZRT20136 331639 6600393 97 -40 262 616.2 449.3 450 0.7 8.4 0.39
MZRT20136 331639 6600393 97 -40 262 616.2 548 548.4 0.4 3.3 0.2
MZRT20136 331639 6600393 97 -40 262 616.2 569.4 573 3.6 3.9 1.5
MZRT20136 331639 6600393 97 -40 262 616.2 578.8 579.3 0.5 4 0.26
MZRT20136 331639 6600393 97 -40 262 616.2 602.7 603 0.3 17.7 0.16

Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi (MGA) Hole Depth From To DH Width Grade g/t
Au		 True
Width
ZD468D 330925 6599505 344 -60 31 1488.3 1473.09 1473.18 0.09 10.8 0.1
ZRD026 331088 6600181 344 -60 23 877.25 583.45 583.95 0.5 14.1 0.2
ZRD026 331088 6600181 344 -60 23 877.25 787.85 788 0.15 5.63 0.1
ZRD031 331084 6600181 344 -55 15 897.55 81 82 1 22 0.6
ZRD031 331084 6600181 344 -55 15 897.55 83 84 1 25 0.6
ZRD031 331084 6600181 344 -55 15 897.55 582.45 582.6 0.15 75 0.08
ZRD031 331084 6600181 344 -55 15 897.55 785.93 786.06 0.13 122 0.07
ZRD031 331084 6600181 344 -55 15 897.55 787 788 1 3.5 0.5
ZRD037 331094 6599943 344 -57 25 933.5 320.6 320.7 0.1 10.7 0.05
ZRD037 331094 6599943 344 -57 25 933.5 721 722 1 4.7 0.48
ZRD037 331094 6599943 344 -57 25 933.5 743 744 1 5.8 0.53
ZRD037 331094 6599943 344 -57 25 933.5 774.35 774.47 0.12 5.1 0.06
ZRD037 331094 6599943 344 -57 25 933.5 864.09 864.63 0.54 6.44 0.4
ZRD037A 331094 6599943 344 -57 25 810.2 721.55 721.65 0.1 1530 0.05
ZRD037A 331094 6599943 344 -57 25 810.2 806 807 1 4.1 0.53
ZRD038 331093 6599941 343 -67 23 1605.6 792.95 793.07 0.12 42.6 0.06
ZRD038 331093 6599941 343 -67 23 1605.6 1078 1079 1 13.3 0.34

Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi (MGA) Hole Depth From To DH Width Grade g/t
Au		 True
Width
BKRT20155 331631 6600653 25 -12 250 606.03 248.1 249.12 1.02 5.8 1
BKRT20155 331631 6600653 25 -12 250 606.03 252 253 1 3.9 0.5
BKRT20155 331631 6600653 25 -12 250 606.03 359.3 359.8 0.5 2.7 0.1
BKRT20155 331631 6600653 25 -12 250 606.03 572 572.55 0.55 16.5 0.2

Kundana Section 1 Sampling Techniques and Data
Criteria Commentary
Sampling
techniques		 •
Sampling of gold was undertaken using diamond core (surface and underground),
•
Drilling and sampling for gold has been conducted by various companies since 1987. Sampling techniques is a summary of drilling and sampling methods as reported by Kundana Gold
Pty Ltd, Placer Dome Asia Pacific Ltd (Placer), Barrick, Phoenix Gold, Northern Star Resources (NSR) and Evolution Mining (EVN)
•
Diamond drill core sample intervals are based on geology to ensure a representative sample, mostly at lengths ranging from 0.1 to 1m. Diamond drilling for exploration and regional
resource definition was half core sampled. Diamond drilling for near mine resource definition and grade control was half or full
core sampled.
Diamond core samples were dried,
crushed and pulverised (total preparation) to produce a 30g to 50g charge for fire assay of Au.
•
All drill core was photographed and logged prior to sampling.
Diamond drill core was sampled to lithological, alteration and mineralisation related contacts.
•
Sampling was carried out according to the processes developed by previous project owners' protocols and QAQC procedures.
•
Sample representivity is guided by field-based observations from geological supervision, logging and other field records referring to sample quality, content and recovery.
Drilling
techniques		 •
Drilling incorporated in the Mineral Resource estimate has been collected using diamond drill rigs, RC drill rigs and development face samples.
•
Drill core is extracted using a standard tube and core diameter in either NQ2 (47.6mm) or HQ (63.5mm) size.
•
Prior to 2015, diamond core orientation is limited.
•
Diamond core was orientated utilizing either a bottom of hole spear, EZI-Mark or a real -time orientation device (ACE system, Tru-Core device)
Drill sample
recovery		 •
Diamond Core (DC) contractors use a core barrel and wire line unit to recover the DC, adjusting drilling methods and rates to
minimize core loss (e.g., changing rock type, broken ground
conditions etc.). Triple tubing method may be used DC was orientated, length measured and compared to core blocks denoting drilling depths by the drilling contractor. Any recovery
issues are recorded
Logging •
For DC, it is orientated then geologically and geotechnically logged, photographed and cut in half. DC loss is recorded in the logging process.
•
Geological logging is qualitative and quantitative in nature.
Logged data is currently captured by a portable data logger utilising AcQuire software.
Sub-sampling
techniques and
sample
preparation		 •
The sample preparation and analysis procedure is as follows:
•
The samples arrive at laboratory where they are profiled, reconciled, weighed and recorded.
•
They are dried for a duration dictated by analysis parameters at a temperature of 105°C.
•
The samples are crushed using a Jaw Crusher to achieve 90% passing 3mm and then pulverised in a LM5 pulveriser to a minimum of 90% passing 75µm.
•
A 200g sub-sample is scooped out, placed in a sample sachet and a 40g sample weighed out for fire assay.
•
The 40g charge is mixed with 170g of flux (flux contains lead monoxide, sodium carbonate, sodium tetraborate) for firing.

Kundana Section 1 Sampling Techniques and Data
Criteria Commentary
Quality of
assay data and
laboratory
tests		 •
The sampling preparation and assaying protocol used Mungari 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.
•
Assaying has been completed by fire assay on 30g, 40g or 50g subsamples with either gravimetric or AAS finish. Some screen fire assaying has been used when assays have returned
values at the maximum limits of the FA/AAS technique.
•
Certified reference material (1:20) and Blanks (1:20) are routinely inserted into the sampling sequence and 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,
batches which fail quality control checks are re-analysed.
•
A suite of multi elements are determined using four-acid digest with ICP/MS and/or an ICP/AES finish for some sample intervals.
Verification of
sampling and
assaying		 •
The quality control / quality assurance (QAQC) processes are designed and undertaken to determine that the intercepts are representative of the mineralised system.
•
Half core is retained for further verification is required.
•
Where appropriate, drill holes are twinned to validate specific geological observations and measurements that maybe material to the resource estimate or could be interpreted as having
more than one geological interpretation.
•
All sample and assay information are 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. Original laboratory digital assay files are stored in the site data system.
•
No adjustments or calibrations have been made to the final assay data reported by the laboratory.
Location of
data points		 •
On completion of drilling, drill hole collar positions were surveyed by either contract or site-based surveyors. Some earlier drilling was surveyed prior to drilling, but not resurveyed on
completion. Survey was by theodolite or differential GPS, to varying precision and accuracy relative to the AHD.
•
Down hole surveys consist of regular spaced Eastman single shot, electronic multishot surveys (generally <30m apart down hole) and north seeking gyro instruments obtained every 5m
down hole. Ground magnetics affect the result of the measured azimuth reading for these survey instruments except gyro.
•
Many of the earlier shallower drill holes (≤50m) were not down-hole surveyed and design azimuth and dip applied.
•
Data was collected on local grids, AMG84 and/or MGA94 co-ordinates.
•
Topographic control was generated from survey pick-ups of the area over the last 20 years, aerial surveys and Lidar surveys
Data spacing
and
distribution		 •
The nominal drill spacing in the deposit areas varies considerably from close spaced, less than 10m x 10m (nominally grade control drilling density) to 80m x 80m (nominal resource
targeting drill density). The drill spacing to define geological continuity is dictated by the level of understanding required to determine geological and grade continuity study work of the
mineralisation for Mineral Resource estimation.

Kundana Section 1 Sampling Techniques and Data
Criteria Commentary
Orientation of
data in relation
to geological
structure		 •
The majority of the structures in the Kundana camp dip steeply (80°) to WSW. To target these orientations, the drill hole dips of 60 -
70°
towards ~060°
achieve high angle intersections
on all structures. Diamond drilling was designed to target the ore bodies as close to perpendicular as possible, allowing for
a favourable intersection angle. In instances where this was
not achievable (mostly due to drill platform location), drilling was not completed or re-designed once a suitable platform became available.
•
For the intercepts reported, down hole widths have been used.
•
No drilling orientation and sampling bias has been recognised at this time.
Sample
security		 •
Samples are assumed to have been under the security if the respective tenement holders or until delivered to the laboratory where they are assumed to have been under restricted
access.
Audits or
reviews		 •
No documented Audits or Reviews have been conducted by independent third parties.
•
Internal reviews were completed on sampling techniques and data as part of the various operating companies' quality assessment practices.

Kundana Section 2 Reporting of Exploration Results
Criteria Commentary
Mineral
tenement and
land tenure
status		 •
All holes mentioned in this report are located within Mining Lease M16/72 and M16/97 which is owned by Kundana Gold Pty Ltd, a wholly owned subsidiary of Evolution Mining Limited.
There are no private royalty agreements applicable to this tenement. The deposits lie within vacant crown land.
•
Access to the project areas is via gazetted roads and fair-weather haul routes located on EVN owned Miscellaneous and Mining leases or, via Access Agreement from a third party
•
The State Government royalty of 2.5% NSR applies on gold produced.
•
An MGO royalty book is active and updated regularly that records and stores royalty information for specific leases.
•
Some resources have third party royalties based on:
•
Ore tonnes mined or processed payable to a 3rd party. These royalties can be capped
•
A \$/oz or percentage EVN produced from the lease
•
The tenements are in good standing and no known impediments exist.
Exploration
done by other
parties		 •
All the historic mining, exploration and resource development for the Mungari Gold Operation deposits was completed by companies
which held tenure over the Project since before
1987 up to 2022. Kundana Gold Pty Ltd, Placer Dome Asia Pacific Ltd (Placer), Barrick, Northern Star Resources (NSR) and Evolution Mining (EVN)
•
Results of exploration and mining activities by these companies aid EVNs exploration, resource development and mining.
Geology The geology is varied over the greater Mungari Operations project area and can be broken up into three broad geological camps
being the:
•
Kundana Gold Camp
•
Carbine Gold Camp
•
Kunanalling Gold Camp
The Kundana deposits are hosted by a structurally prepared sequence of sediments, volcaniclastics, mafic and ultramafic volcanic
and intrusive rocks typical of the greenstone sequences in
the Archaean Yilgarn Block. The deposits are spatially associated with the craton-scale Zuleika Shear Zone. The Zuleika Shear Zone represents the boundary between the Coolgardie
domain to the west and the Ora Banda domain to the east.
Barkers-style mineralisation consists of narrow vein deposits (0.20 m to 1.0 m thick) hosted by shear zones located along steeply-dipping overturned lithological contacts. The footwall
stratigraphy of Barkers consists of several different units of the Powder Sill Gabbro, a thick stratigraphy-parallel differentiated mafic intrusive. The volcaniclastic sedimentary rocks of the
hanging-wall consist of a sequence of interbedded siltstones, felspathic sandstones, felspathic-lithic wackes and felspathic-lithic rhyolites.
Drill hole
Information		 See the Kundana
drill hole information summary table in this presentation.

Kundana
Section 2 Reporting of Exploration Results
Criteria Commentary
Data
aggregation
methods		 •
All reported assay results have been length-weighted; no top cuts have been applied. Assay results are reported to a 0.8g/t Au lower cut over a minimum intersection of 1m for RC &
0.2m for DC.
•
A maximum of 2m of internal dilution (i.e., <2m @ <0.8g/t Au) is included for reporting RC intercepts targeting the supergene
mineralisation & for DDH intercepts targeting the fresh rock
mineralisation.
•
No metal equivalent values are used for reporting exploration results.
Relationship
between
mineralisation
widths and
intercept
lengths		 •
Drill hole intersections are generally at a high angle to each mineralised zone. Reported down hole intersections are noted as approximately true width, or otherwise are denoted as 'true
width not known'.

Kundana
Section 2 Reporting of Exploration Results
Criteria Commentary
Balanced
reporting		 •
A representative selection of drill holes have been reported that include, economic and sub economic drill hole intercepts.
•
Economic intercepts are defined as greater than 10 gram metres
Other
substantive
exploration
data		 •
No unreported exploration data has been collected relevant to these deposits that is considered material to this presentation.
Further work •
Further work will include mining studies appropriate to EVNs current open-cut and underground mining methods. If mining studies yield a positive result, infill resource definition is
planned to convert Inferred Mineral Resource category to Indicated Mineral Resource category and to test for extensions to mineralisation along strike and down-dip that would likely
impact the economic outcome.
•
A feasibility has been conducted to determine the economics of reducing the Mungai Processing facility unit cost by increasing throughput from 2.0Mpta to 4.2Mtpa. This has reduced
COGs for the MGO Mineral Resource Statement.

KUNDANA (RALEIGH) EXPLORATION RESULTS

Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi (MGA) Hole Depth From To DH Width Grade g/t
Au		 True
Width
RMRCD018 331583 6599519 344 -59 64 149.3 116.35 116.5 0.15 364.0 0.1
RRD001 331570 6599488 345 -59 61 187.1 142.35 142.6 0.25 82.1 0.2
RMRCD037 331545 6599451 345 -61 63 99.4 180 180.2 0.2 50.2 0.15
RMRCD039 331477 6599368 345 -60 59 288 273.48 274 0.52 19.7 0.36
RMRCD062 331486 6599141 344 -61 55 432 396.5 396.8 0.3 238.0 2.5
RMRCD041 331390 6599137 345 -60 59 482.6 466 466.2 0.2 13.7 0.2
RURD069 331587 6598824 -54 -10 2 347.1 342 342.1 0.1 153.0 0.1
RURD218 331605 6599084 -268 -16 337 86.5 42.4 42.6 0.2 164.0 0.2
RURD224A 331616 6599045 -303 -11 333 171.2 75.83 76.2 0.37 93.5 0.1
RURD248 331574 6599040 -336 -57 336 150.06 82.98 83.31 0.33 74.1 0.33
RURD204 331537 6598656 -342 -20 9 395.8 358.7 359.3 0.6 32.1 0.4
RUGD040 331652 6599368 143 -23 230 39.4 38.11 38.31 0.2 41.9 0.14
RF6051_HWOD_009 331664 6599255 61 0 234 3.4 2.7 2.9 0.2 164.0 0.2
RF6034_127 331684 6599212 44 0 238 3.35 2.1 2.3 0.2 330.0 0.2
RMRCD063 331466 6599178 344 -60 58 413.8 368.48 368.68 0.2 86.6 0.18
RF5812ACC_N_005 331845 6598701 -193 0 243 4.42 3.46 3.61 0.15 48.2 0.2
RURD154 331537 6598651 -343 -48 123 377.8 292.9 293.4 0.5 104.0 0.5
RURD280 331670 6598651 -324 -51 80 165.11 120 120.4 0.4 24.0 0.35
RURD067 331613 6598779 -57 -75 69 356.82 296.17 296.61 0.44 2.76 0.3
Raleigh Section 1 Sampling Techniques and Data
Criteria Commentary
Sampling
techniques		 •
Sampling of gold mineralisation at Mungari Operation that constitutes the Mineral Resource estimates for the 2022 MROR was undertaken using diamond core (surface and
underground), Reverse Circulation (RC) drilling and underground development face samples.
•
Drilling and sampling for gold has been conducted by various companies since 1987. Sampling techniques is a summary of drilling and sampling methods as reported by Mineral
Resources Australia (MRA), La Mancha Resources, Centaur Mining and Exploration, Placer Dome Asia Pacific Ltd (Placer), Barrick, Phoenix Gold, Northern Star Resources (NSR) and
Evolution Mining (EVN)
•
RC drilling was sampled at 1m or 2m intervals.
•
RC samples were dried, crushed and pulverised (total preparation) to produce a 30g to 50g charge for fire assay or Aqua Regia
assay for Au.
•
Diamond drill core sample intervals are based on geology to ensure a representative sample, mostly at lengths ranging from 0.1 to 1m. Diamond drilling for exploration and regional
resource definition was half core sampled. Diamond drilling for near mine resource definition and grade control was half or full
core sampled. Diamond core samples were dried,
crushed and pulverised (total preparation) to produce a 30g to 50g charge for fire assay of Au.
•
All drill core was photographed and logged prior to sampling. Diamond drill core was sampled to lithological, alteration and
mineralisation related contacts.
•
Face sample intervals are based on geological features and sampled by channel chip sampling across the face. The sequence of
intervals and samples across the face then is recorded
as a drillhole in the acQuire database.
•
Underground face sampling is completed at a standard height of the grade line, with historic minimum and maximum sample lengths of 0.05m to 2m. Face sampling is taken along the
grade line to obtain a representative sample for each geological division. Underground face sample weights vary, with a maximum around 3kg.
•
Sampling was carried out according to Mungari Operations protocols and QAQC procedures.
•
Sample representivity is guided by field-based observations from geological supervision, logging and other field records referring to sample quality, content and recovery.
Drilling
techniques		 •
Drilling incorporated in the Mineral Resource estimate has been collected using diamond drill rigs, RC drill rigs and development face samples.
•
Drill core is extracted using a standard tube and core diameter in either NQ2 (47.6mm) or HQ (63.5mm) size.
•
Prior to 2015, diamond core orientation is limited.
•
Diamond core was orientated utilizing either a bottom of hole spear, EZI-Mark or a real -time orientation device (ACE system, Tru-Core device)
•
RC drilling utilises a down-the-hole face sampling hammer with hole sizes varying between 4.25" (105mm) to 5.5" (140mm). Earlier
(cross-over sub and open hole hammer techniques
was used (usually pre-1995).
Drill sample
recovery		 •
RC drillers were instructed to adopt an RC drilling strategy for the ground conditions advised by geologist expected for each
hole to maximize sample recovery, minimize contamination,
and maintain specified spatial position.
•
RC sample recovery was not recorded quantitatively prior to 2000. Sample quality and moisture content was recorded in some instances, but in qualitative terms. Post 2000, RC drill
samples were visually logged for moisture content, sample recovery and contamination.
•
Diamond Core (DC) contractors use a core barrel and wire line unit to recover the DC, adjusting drilling methods and rates to
minimize core loss (e.g., changing rock type, broken ground
conditions etc.). Triple tubing method may be used DC was orientated, length measured and compared to core blocks denoting drilling depths by the drilling contractor. Any recovery
issues are recorded.

Raleigh Section 1 Sampling Techniques and Data
Criteria Commentary
Logging •
RC samples are geologically logged. Specifically, each interval is inspected and the weathering, regolith, rock type, alteration, mineralisation and structure recorded.
•
The entire length of RC holes are logged on a 1m interval basis (i.e.100% of the drilling is logged). Where no sample is returned due to voids or lost sample, it is logged and recorded as
such. DC is logged over its entire length and any core loss or voids are recorded.
•
For DC, it is orientated then geologically and geotechnically logged, photographed and cut in half. DC loss is recorded in the logging process.
•
Geological logging is qualitative and quantitative in nature. Logged data is currently captured by a portable data logger utilising AcQuire software.
Sub-sampling
techniques and
sample
preparation		 The sample preparation and analysis procedure is as follows:
•
The samples arrive at laboratory where they are profiled, reconciled, weighed and recorded.
•
They are dried for a duration dictated by analysis parameters at a temperature of 105°C.
•
The samples are crushed using a Jaw Crusher to achieve 90% passing 3mm and then pulverised in a LM5 pulveriser to a minimum of 90% passing 75µm.
•
A 200g sub-sample is scooped out, placed in a sample sachet and a 40g sample weighed out for fire assay.
•
The 40g charge is mixed with 170g of flux (flux contains lead monoxide, sodium carbonate, sodium tetraborate) for firing.
Quality of
assay data and
laboratory
tests		 •
The sampling preparation and assaying protocol used Mungari 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.
•
Assaying has been completed by fire assay on 30g, 40g or 50g subsamples with either gravimetric or AAS finish. Some screen fire assaying has been used when assays have returned
values at the maximum limits of the FA/AAS technique.
•
Certified reference material (1:20) and Blanks (1:20) are routinely inserted into the sampling sequence and 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,
batches which fail quality control checks are re-analysed.
•
A suite of multi elements are determined using four-acid digest with ICP/MS and/or an ICP/AES finish for some sample intervals.
Verification of
sampling and
assaying		 •
The quality control / quality assurance (QAQC) processes are designed and undertaken to determine that the intercepts are representative of the mineralised system.
•
Half core is retained for further verification is required.
•
Where appropriate, drill holes are twinned to validate specific geological observations and measurements that maybe material to the resource estimate or could be interpreted as having
more than one geological interpretation.
•
All sample and assay information are 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. Original laboratory digital assay files are stored in the site data system.
•
No adjustments or calibrations have been made to the final assay data reported by the laboratory.

Raleigh Section 1 Sampling Techniques and Data
------------------------------------------------ -- -- --
Criteria Commentary
Location of
data points		 •
On completion of drilling, drill hole collar positions were surveyed by either contract or site-based surveyors. Some earlier drilling was surveyed prior to drilling, but not resurveyed on
completion. Survey was by theodolite or differential GPS, to varying precision and accuracy relative to the AHD.
•
Down hole surveys consist of regular spaced Eastman single shot, electronic multishot surveys (generally <30m apart down hole) and north seeking gyro instruments obtained every 5m
down hole. Ground magnetics affect the result of the measured azimuth reading for these survey instruments except gyro.
•
Many of the earlier shallower drill holes (≤50m) were not down-hole surveyed and design azimuth and dip applied.
•
Data was collected on local grids, AMG84 and/or MGA94 co-ordinates.
•
Topographic control was generated from survey pick-ups of the area over the last 20 years, aerial surveys and Lidar surveys
Data spacing
and
distribution		 •
The nominal drill spacing in the
deposit areas varies considerably from
close spaced, less than 10m x 10m (nominally grade control drilling density) to
80m x
80m (nominal resource
targeting drill density). The drill spacing to define geological continuity is dictated by the level of understanding required to determine geological and grade continuity study work of the
mineralisation for Mineral Resource estimation.
Orientation of
data in relation
to geological
structure		 •
The major Raleigh structures dip steeply (80°) to the west (local grid). Diamond drilling was designed to target the ore bodies as close to perpendicular as possible, allowing for a
favourable intersection angle. In instances where this was not achievable (mostly due to drill platform location), drilling was not completed or re-designed once a suitable platform became
available.
•
For the intercepts reported, down hole widths have been used.
•
No drilling orientation and sampling bias has been recognised at this time.
Sample
security		 •
Samples are assumed to have been under the security if the respective tenement holders or until delivered to the laboratory where they are assumed to have been under restricted
access.
Audits or
reviews		 •
No documented Audits or Reviews have been conducted by independent third parties.
•
Internal reviews were completed on sampling techniques and data as part of the various operating companies' quality assessment practices.

Raleigh Section 2 Reporting of Exploration Results
Criteria Commentary
Mineral
tenement and
land tenure
status		 •
All holes referenced in this report are located within either the M15/993 or M16/157 Mining leases. M15/993 which is held by the
East Kundana Joint Venture (EKJV).
•
The tenements that host the East Kundana deposits are held by the East Kundana Joint Venture (EKJV). The EKJV is majority owned and managed by EVN (51%). The minority holding
held in the EKJV is Tribune Resources Ltd (36.75%) and Rand Mining Ltd (12.25%)
•
Access to the project areas is via gazetted roads and fair-weather haul routes located on EVN owned Miscellaneous and Mining leases or, via Access Agreement from a third party
•
The State Government royalty of 2.5% NSR applies on gold produced.
•
An MGO royalty book is active and updated regularly that records and stores royalty information for specific leases.
•
Some resources have third party royalties based on:
•
Ore tonnes mined or processed payable to a 3rd party. These royalties can be capped
•
A \$/oz or percentage EVN produced from the lease
•
The tenements are in good standing and no known impediments exist.
Exploration
done by other
parties		 •
All the historic mining, exploration and resource development for the Mungari Gold Operation deposits was completed by companies
which held tenure over the Project since before 1987
up to 2022. Rand Mining Ltd, and Tribune Resources Ltd, Gilt Edge Mining, Kundana Gold Pty Ltd, Placer Dome Asia Pacific Ltd (Placer), Barrick, Northern Star Resources (NSR) and
Evolution Mining (EVN)
•
Results of exploration and mining activities by these companies aid EVNs exploration, resource development and mining.
Geology The geology is varied over the greater Mungari Operations project area and can be broken up into three broad geological camps
being the:
•
Kundana Gold Camp
•
Carbine Gold Camp
•
Kunanalling Gold Camp
The Kundana deposits are hosted by a structurally prepared sequence of sediments, volcaniclastics, mafic and ultramafic volcanic
and intrusive rocks typical of the greenstone sequences in
the Archaean Yilgarn Block. The deposits are spatially associated with the craton-scale Zuleika Shear Zone. The Zuleika Shear Zone represents the boundary between the Coolgardie
domain to the west and the Ora Banda domain to the east.
Raleigh ore lodes are located along the Strzelecki structure, with mining commencing in 2000. The Raleigh mineralisation consists of narrow, laminated quartz veining on the contact
between volcanogenic sedimentary rock unit and andesite/gabbro (RMV). The Skinners vein (SKV) is believed to be a bifurcation
off the RMV and located (0-15m) in the hanging wall of the
RMV. Sadler is the southern extent of Raleigh with no clear geological boundary distinguishing them.
Drill hole
Information		 See the Raleigh
drill hole information summary table in this presentation.

Raleigh Section 2 Reporting of Exploration Results

Criteria Commentary
Data
aggregation
methods		 •
All reported assay results have been length-weighted; no top cuts have been applied. Assay results are reported to a 0.8g/t Au lower cut over a minimum intersection of 1m for RC & 0.2m
for DC.
•
A maximum of 2m of internal dilution (i.e., <2m @ <0.8g/t Au) is included for reporting RC intercepts targeting the supergene
mineralisation & for DDH intercepts targeting the fresh rock
mineralisation.
•
No metal equivalent values are used for reporting exploration results.
Relationship
between
mineralisation
widths and
intercept
lengths		 •
Drill hole intersections are generally at a high angle to each mineralised zone. Reported down hole intersections are noted as approximately true width, or otherwise are denoted as 'true
width not known'.

Raleigh Section 2 Reporting of Exploration Results
Criteria Commentary
Balanced
reporting		 •
A representative selection of drill holes have been reported that include, economic and sub economic drill hole intercepts.
•
Economic intercepts are defined as greater than 10 gram metres
Other
substantive
exploration
data		 •
No unreported exploration data has been collected relevant to these deposits that is considered material to this presentation.
Further work •
Further work will include mining studies appropriate to EVNs current open-cut and underground mining methods. If mining studies yield a positive result, infill resource definition is
planned to convert Inferred Mineral Resource category to Indicated Mineral Resource category and to test for extensions to mineralisation
along strike and down-dip that would likely
impact the economic outcome.
•
A feasibility has been conducted to determine the economics of reducing the Mungai Processing facility unit cost by increasing throughput from 2.0Mpta to 4.2Mtpa. This has reduced
COGs for the MGO Mineral Resource Statement.

PARADIGM EXPLORATION RESULTS

Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi (MGA) Hole Depth From To DH Width Grade g/t
Au		 True
Width
PDDD22001 301783 6627282 424 -56 73 516.33 87.9 88.9 1 4.3 1
285.95 287 1.05 3.2 1.05
312.25 312.65 0.4 5.8 0.4
406.65 407.4 0.75 4.8 0.75
438.1 447 8.9 2.5 8.9
450 453.79 3.79 29.9 3.79
PDDD22002 301719 6627258 424 -61 73 637.22 148.2 153.71 5.51 1.9 3.5
309.4 309.88 0.48 10.6 0.3
475.25 476 0.75 5.1 0.5
499.17 500.58 1.41 6.1 1
602 604 2 8.9 1.2
PDDD22003 301884 6627215 423 -63 73 312.97 193.5 193.8 0.3 11.4 0.3
286.1 288.1 2 12.9 1.5
PDDD22004 301814 6627200 423 -61 71 495 258.12 258.45 0.33 113.0 0.33
360.16 360.81 0.65 10.2 0.3
367 370 3 4.2 1.8
PDDD22006 301874 6627173 423 -62 76 433.4 318.3 320 1.7 8.5 1.7
373 375 2 1.9 1
418.6 421 2.4 2.6 2
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
PDDD22007 301898 6627132 422 -63 73 365.08 296.54 300 3.46 18.0 1.5
303.29 307.86 4.57 3.8 1.5
PDDD22009 301821 6627119 423 -58 76 502 344 345 1 5.7 0.6
361 363 2 3.8 2
416.4 420.2 3.8 2.3 2.28
427.11 430.02 2.91 2.3 1.36
432.8 433.43 0.63 10.0 0.38
481 482 1 5.4 0.6
PDDD22010 301738 6627097 423 -61 79 640.02 492.92 493.34 0.42 5.5 0.38
497 505 8 2.6 4.6
517 521 4 2.6 2.4
623.81 624.28 0.47 6.1 0.38
PDDD22011 301889 6627096 422 -62 70 355.3 307.31 308.24 0.93 10.1 0.6
327.23 330.39 3.16 8.1 0.93
PDDD22012 301873 6627091 422 -60 73 379.85 348.95 358.36 9.41 4.6 2.71
PDDD22014 301905 6627058 422 -61 71 351.25 309.65 311.22 1.57 14.2 1
312.4 312.88 0.48 14.0 0.2
PDDD22015 301877 6627050 422 -60 72 386.37 352.9 356.55 3.65 7.5 1
359.67 365 5.33 4.2 2
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
PDDD22016 301846 6627043 422 -59 74 442.43 420.78 421.56 0.78 10.4 0.66
405.65 407.07 1.42 588.3 1.2
370.38 371.77 1.39 6.3 1
PDDD22017 301793 6627029 422 -60 75 559.1 507 508.38 1.38 7.4 0.5
469 470.69 1.69 3.9 1
331.72 332.42 0.7 7.7 0.7
415.68 416.5 0.82 13.6 0.5
446 452 6.0 4.2 4
514 514.47 0.47 5.0 0.4
PDDD22018 301822 6626995 422 -59 73 504.9 190.6 193.22 2.62 4.7 1.05
346.45 346.95 0.5 5.6 0.5
481.34 482.38 1.04 6.6 0.16
484.62 486.66 2.04 3.3 0.32
PDDD22019 301762 6626979 422 -59 71 315.93 269.82 270.76 0.94 0.4 0.3
PDDD22020 301730 6626971 423 -59 70 357.8 316 316.48 0.48 0.5 0.48
PDDD22021 301825 6626955 422 -76 72 367.1 50.05 50.37 0.32 9.8 0.2
346.03 346.35 0.32 9.7 0.08
PDDD22022 301841 6626958 422 -66 77 273.9 227.45 227.8 0.35 8.5 0.25
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
PDDD22023 301854 6626859 422 -67 44 331.24 115.59 118 2.41 4.7 2
254.02 255 0.98 49.3 0.98
301.3 302.35 1.05 4.0 0.36
PDDD22024 301855 6626860 422 -67 53 310.3 285.75 286.7 0.95 10.0 0.26
PDDD22025 301858 6626862 422 -60 58 268.3 248.49 250.36 1.87 5.0 0.51
PDDD22026 301871 6626834 422 -64 71 320.08 286.78 288.12 1.34 2.5 1.34
PDDD22028 302208 6626978 419 -61 251 233.38 202.13 202.78 0.65 3.9 0.09
PDDD22029 302233 6626981 419 -68 252 263.03 244 245 1 1.0 1
PDDD22029A 302232 6626982 420 -61 252 280.3 232 233.46 1.46 4.1 0.88
240.95 241.6 0.65 7.2 0.39
246.37 246.75 0.38 6.9 0.38
PDDD22030 302260 6626987 420 -61 253 350.15 257.5 259 1.5 11.6 1.5
274 278 4 1.2 4
PDDD22031 302288 6626995 419 -60 254 385.04 241.8 242.45 0.65 4.7 0.36
256.2 256.7 0.5 7.5 0.3
PDDD22033 301910 6627249 423 -63 74 280 71 72 1 9.6 0.6
108 114.2 6.2 3.5 3.75
161 162 1 14.7 0.6
219.3 220.7 1.4 20.8 0.84
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
234 245.56 11.56 9.5 3.12
PDDD22034 301831 6627218 423 -60 74 282.2 178 180 2 2.7 2
PDDD22034A 301829 6627217 423 -58 73 421.9 218 218.55 0.55 7.0 0.33
233 234.18 1.18 8.2 0.71
349 354 5 15.7 1.3
355.28 356.36 1.08 3.6 0.65
PDDD22035 301861 6627146 422 -62 73 433.43 397.48 399.6 2.12 5.3 0.63
PDDD22036 301916 6626995 422 -62 72 280.3 245.8 246.5 0.7 1.3 0.7
PDRC22001 301938 6627270 422 -60 73 100 81 82 1 8.7 1
PDRC22002 301934 6627247 422 -60 73 100 69 70 1 6.5 1
PDRC22003 301918 6627242 422 -59 76 100 68 69 1 6.5 1
PDRC22004 301901 6627237 423 -61 74 100 92 93 1 1.0 1
PDRC22005 301885 6627233 423 -61 72 100 95 96 1 0.7 1
PDRC22006 301921 6627222 422 -61 75 100 54 58 4 1.2 4
PDRC22006 301921 6627222 422 -61 75 100 83 87 4 2.0 4
PDRC22007 301903 6627218 422 -58 73 100 79 80 1 2.8 1
PDRC22008 301883 6627217 423 -60 83 100 66 67 1 0.3 1
PDRC22009 301909 6627198 422 -60 73 90 60 61 1 0.4 1
PDRC22010 301894 6627189 422 -60 69 90 58 61 3 0.4 3
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
PDRC22011 301874 6627176 422 -54 55 95 65 66 1 0.5 1
PDRC22012 301873 6627175 422 -65 45 80 63 65 2 0.5 2
PDRC22013 301841 6627177 423 -61 74 90 68 72 4 9.0 4
PDRC22014 302135 6627266 421 -59 75 70 43 47 4 2.1 2.4
PDRC22015 301898 6627167 422 -60 72 90 49 50 1 0.8 1
PDRC22016 302042 6627222 421 -60 252 120 62 63 1 1.94 1
PDRC22017 302071 6627226 421 -60 253 150 63 65 2 3.9 1.2
PDRC22018 302097 6627234 421 -59 255 222 67 70 3 7.5 1.8
125 126 1 4.6 0.6
PDRC22019 301875 6627171 423 -56 119 80 60 61 1 1.0 1
PDRC22020 301850 6627126 422 -58 58 102 52 54 2 3.8 2
PDRC22021 302037 6627194 421 -59 255 100 59 60 1 1.6 1
PDRC22022 302058 6627201 421 -60 253 130 42 43 1 12.3 1
66 67 1 3.3 0.6
79 81 2 3.8 1.2
88 89 1 27.6 0.6
PDRC22023 302078 6627207 421 -60 253 174 74 76 2 26.9 1.2
PDRC22024 302099 6627213 421 -60 256 198 61 62 1 13.6 0.6
98 102 4 7.3 0.89
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
114 115 1 4.5 0.6
PDRC22025 302120 6627219 421 -60 255 220 129 137 8 7.9 1.71
144 145 1 12.2 0.21
181 183 2 4.1 1.2
188 189 1 11.7 0.6
PDRC22026 301875 6627125 422 -60 74 90 61 62 1 0.7 1
PDRC22027 301851 6627126 422 -58 85 105 55 56 1 4.7 1
PDRC22028 302013 6627167 421 -60 253 70 43 44 1 0.9 1
PDRC22029 302031 6627169 421 -61 252 100 70 74 4 9.6 2.4
PDRC22030 302054 6627178 421 -59 254 144 64 65 1 12.9 0.6
84 85 1 8.0 0.6
101 102 1 50.7 0.6
PDRC22031 302073 6627183 421 -60 249 150 58 59 1 3.4 0.6
61 63 2 7.8 1.2
126 131 5 17.0 3
PDRC22033 302102 6627191 421 -60 253 204 61 66 5 1.8 5
94 119 25 10.8 25
154 163 9 7.1 9
PDRC22034 302131 6627203 420 -60 256 230 145 146 1 5.5 0.6
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
150 160 10 5.8 1.71
PDRC22035 301870 6627092 422 -53 56 95 77 80 3 1.5 3
PDRC22036 301855 6627085 423 -55 61 110 78 80 2 8.4 2
PDRC22037 302006 6627144 422 -60 251 80 48 49 1 1.1 1
PDRC22038 302025 6627149 421 -61 253 96 43 44 1 4.4 0.6
54 57 3 5.0 1.8
PDRC22039 302048 6627156 421 -61 254 110 52 53 1 5.2 0.6
90 92 2 6.2 1.2
PDRC22040 302069 6627163 421 -60 256 130 50 54 4 15.9 2.4
116 118 2 8.0 1.2
PDRC22041 302079 6627170 421 -59 252 162 54 60 6 1.7 6
PDRC22042 302110 6627177 421 -61 253 210 57 59 2 7.6 1.2
76 77 1 3.3 0.6
83 89 6 5.3 3
113 114 1 41.8 0.21
178 180 2 8.5 1.2
PDRC22043 302132 6627183 421 -60 252 240 51 54 3 3.9 1.8
149 150 1 23.0 0.21
PDRC22044 301871 6627091 422 -54 83 98 61 63 2 6.4 2
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
PDRC22045 301856 6627083 423 -53 91 75 60 61 1 0.1 1
PDRC22046 302012 6627124 421 -58 251 60 44 45 1 0.4 1
PDRC22048 302056 6627138 421 -60 250 120 46 48 2 5.1 2
97 99 2 3.3 2
PDRC22049 302072 6627143 421 -60 252 140 29 30 1 4.3 1
47 49 2 12.8 2
51 61 10 6.2 10
117 119 2 14.5 2
PDRC22050 302089 6627148 421 -59 252 162 47 59 12 3.0 12
76 83 7 1.3 7
141 143 2 1.6 2
PDRC22051 302103 6627152 421 -60 254 190 51 52 1 4.5 0.6
96 101 5 5.2 1.78
134 136 2 10.6 1.2
162 165 3 3.8 1.8
PDRC22052 302122 6627158 421 -60 254 220 60 68 8 5.6 4.8
122 124 2 4.6 1.31
PDRC22053 302144 6627170 421 -60 254 252 50 54 4 3.3 4
87 92 5 0.9 5
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
97 111 14 0.7 14
121 126 5 1.3 5
142 145 3 3.1 3
148 162 14 3.1 14
PDRC22054 301904 6627058 422 -50 49 85 57 58 1 0.4 1
PDRC22055 301903 6627058 422 -65 47 88 57 59 2 17.9 2
62 64 2 9.8 2
PDRC22056 301877 6627050 422 -58 54 107 87 88 1 4.1 1
PDRC22057 302019 6627106 421 -61 254 60 43 44 1 0.8 1
PDRC22058 302038 6627111 421 -60 254 90 61 62 1 5.9 0.6
71 72 1 5.1 0.6
PDRC22059 302055 6627117 421 -60 252 170 42 46 4 3.8 2.4
PDRC22060 302073 6627122 421 -60 256 186 45 50 5 6.2 3
53 57 4 5.9 0.86
117 119 2 38.1 1.2
PDRC22061 302090 6627127 421 -60 252 198 37 38 1 16.8 0.6
72 82 10 5.9 2.14
PDRC22062 302108 6627133 421 -60 251 205 45 47 2 7.7 1.2
60 62 2 5.2 1.2
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
101 106 5 4.7 1.07
169 170 1 11.8 0.6
PDRC22063 302123 6627137 421 -59 254 222 106 124 18 6.2 3.86
133 134 1 4.7 0.6
152 153 1 5.1 0.6
PDRC22064 302141 6627142 420 -59 251 240 62 63 1 17.6 0.6
240 140 143 3 18 0.64
240 163 164 1 4.8 0.6
PDRC22065 302173 6627143 420 -57 254 270 57 60 3 2.3 1.8
260 262 2 12.6 1.2
113 115 2 2.9 1.2
250 251 1 5.8 0.6
PDRC22066 301878 6627048 422 -61 93 70 55 56 1 0.3 1
PDRC22067 302030 6627088 421 -60 251 70 42 43 1 0.8 1
PDRC22068 302049 6627094 421 -60 255 100 67 68 1 4.2 0.6
73 74 1 4.3 0.6
PDRC22069 302083 6627104 421 -59 253 150 44 45 1 4.3 0.6
73 76 3 15.6 0.64
PDRC22070 302103 6627109 421 -58 252 174 54 55 1 12.1 0.6
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
85 90 5 2.2 1.07
95 96 1 10.4 0.21
165 166 1 6.6 1
PDRC22071 302149 6627124 420 -60 253 228 56 57 1 5.6 0.6
112 114 2 3.0 1.8
126 130 4 4.8 2.4
151 157 6 5.7 3.6
165 175 10 3.9 2.14
218 221 3 4.6 1.8
PDRC22072 302171 6627131 420 -60 254 270 118 120 2 4.8 1.2
181 185 4 7.9 2.4
PDRC22073 302046 6627072 421 -60 253 80 48 49 1 3.2 0.6
PDRC22074 302062 6627077 421 -59 252 110 37 38 1 4.4 0.6
42 43 1 7.9 0.6
72 73 1 5.8 0.6
86 89 3 9.4 1.8
PDRC22075 302077 6627081 421 -62 253 150 64 66 2 6.0 1.2
PDRC22076 302092 6627086 421 -60 253 170 39 40 1 7.5 0.6
84 86 2 17.0 0.53
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
132 133 1 9.1 0.6
PDRC22077 302107 6627091 421 -60 253 180 98 102 4 9.0 1.2
149 150 1 3.5 0.6
PDRC22078 302141 6627101 420 -60 254 200 85 87 2 4.0 1.2
102 104 2 4.2 1.2
166 168 2 22.1 0.66
PDRC22079 302158 6627107 420 -60 252 240 211 214 3 2.8 0.99
PDRC22080 302175 6627112 420 -60 253 198 55 61 6 2.8 3.6
128 130 2 3.2 1.2
PDRC22081 302194 6627118 420 -60 254 198 98 100 2 7.6 1.2
PDRC22082 302068 6627055 421 -59 254 140 41 45 4 6.4 2.4
76 77 1 10.7 0.6
82 85 3 1.9 3
PDRC22083 302094 6627060 421 -59 254 160 34 37 3 2.1 1.8
72 74 2 3.6 0.72
PDRC22084 302157 6627090 420 -62 251 268 45 47 2 3.5 1.2
221 225 4 1.5 1.27
229 234 5 3.1 3
242 248 6 19.3 3.6
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
PDRC22085 302204 6627097 420 -60 253 174 159 160 1 6.2 0.6
PDRC22086 302230 6627107 420 -60 251 108 63 64 1 0.3 1
PDRC22087 301986 6627025 421 -59 71 132 73 74 1 4.3 1
79 105 26 2.5 26
114 115 1 4.0 1
PDRC22088 301966 6627006 422 -59 74 150 131 132 1 1.0 1
PDRC22089 302109 6627051 420 -59 253 110 36 44 8 0.9 8
87 93 6 1.2 6
105 107 2 3.7 2
PDRC22090 302135 6627057 420 -59 252 150 137 141 4 29.5 2.8
PDRC22091 302157 6627064 420 -60 252 200 198 199 1 18.1 0.7
PDRC22092 301981 6626986 421 -59 72 156 49 51 2 10.0 2
130 135 5 2.0 5
142 155 13 1.6 13
PDRC22093 302135 6627038 420 -50 258 136 103 108 5 10.9 5
120 125 5 14.8 5
PDRC22094 302139 6627038 420 -60 254 150 37 38 1 4.2 0.7
133 135 2 5.2 1.4
PDRC22095 302159 6627045 420 -60 251 190 178 179 1 6.1 0.7
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
PDRC22096 302143 6626989 420 -59 251 150 101 103 2 2.7 1.4
PDRC22097 302163 6627007 420 -59 252 170 157 161 4 4.3 2.8
PDRC22098 302154 6626970 420 -60 253 144 106 110 4 5.3 2.8
PDRC22099 302172 6626965 420 -60 253 150 126 128 2 39 0.91
PDRC22100 302150 6626939 420 -60 255 114 87 89 2 5.5 2
PDRC22101 302170 6626943 420 -60 254 138 55 62 7 0.6 7
65 68 3 0.7 3
76 78 2 1.4 2
84 91 7 1.0 7
102 103 1 3.9 1
112 119 7 2.5 7
122 124 2 3.1 2
PDRC22102 302191 6626950 420 -60 254 168 45 46 1 0.9 1
147 153 6 2.3 6
PDRC22103 302220 6626917 419 -60 253 180 50 51 1 0.8 1
140 141 1 2.0 1
PDRC22104 302233 6626898 419 -60 255 180 49 51 2 0.6 2
61 69 8 1.0 8
74 80 6 1.2 6
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
158 159 1 1.8 1
168 171 3 1.4 3
PDRC22105 302261 6626904 419 -60 253 258 46 51 5 1.1 5
111 113 2 1.3 2
132 133 1 1.4 1
249 256 7 1.9 7
PDRC22106 302208 6626912 419 -49 256 132 114 115 1 18.1 0.6
PDRC22107 302138 6626954 420 -60 254 105 45 47 2 2.6 1.2
63 65 2 9.7 1.2
75 77 2 5.4 0.66
PDRC22108 302190 6626969 419 -59 253 186 141 142 1 16.2 0.6
145 146 1 5.1 0.6
PDRC22109 302160 6627001 420 -54 252 185 118 122 4 15.4 0.97
141 142 1 21.3 0.6
153 156 3 13.2 1.8
161 162 1 4.9 0.6
179 180 1 20.1 0.6
PDRC22110 302165 6627017 420 -50 253 190 76 80 4 3.1 2.4
142 144 2 5.4 1.2
Hole ID East (MGA) North (MGA) RL (AHD) Dip Azi
(MGA)		 Hole Depth From To DH Width Grade g/t
Au		 True
Width
175 180 5 3.0 3
PDRC22111 302124 6627070 420 -59 253 155 112 116 4 12.0 1.32
142 143 1 3.4 0.6

Paradigm Section 1 Sampling Techniques and Data
Criteria Commentary
Sampling
techniques		 •
Sampling was completed using a combination of Reverse Circulation (RC) and Diamond (DD) drilling.
•
RC samples were split using a rig-mounted cone splitter on 1m intervals to obtain a sample for assay.
•
Diamond core was placed in core trays for logging and sampling. Half core samples were nominated by the geologist from diamond core with a minimum sample width of 20cm (HQ).
•
RC sampling was split using a rig mounted cone splitter to deliver a sample of approximately 2Kg
•
DD drill core was cut in half using an automated core saw, where the mass of material collected will vary on the hole diameter and sampling interval.
•
All samples were delivered to a commercial laboratory where they were dried, crushed to 95% passing 3mm if required, at this point large samples may be split using a rotary splitter,
pulverisation to 95% passing 75µm, a 50g charge was selected for fire assay.
Drilling
techniques		 •
Both RC and Diamond Drilling techniques were used at the Paradigm project.
•
All resource definition holes completed were drilled using HQ or HQ3 (63.5mm, 61.1mm) diameter core.
•
Core was orientated using an electronic 'back-end tool' core orientation system.
•
RC Drilling was completed using a 5.4" drill bit.
Drill sample
recovery		 •
RC drilling contractors adjust their drilling approach to specific conditions to maximise sample recovery.
•
For DD the contractors adjust their rate of drilling and method if recovery issues arise. Inconsistencies between the logging
and the driller's core depth measurement blocks are
investigated. Core recovery was acceptable.
•
The diamond drilling contractors adjust their rate of drilling and method if recovery issues arise. All recovery is recorded by the drillers on core blocks. This is checked and compared to
the measurements of the core by the geological team. Any issues are communicated back to the drilling contractor.
Logging •
All diamond core is logged for Regolith, Lithology, veining, alteration, mineralisation and structure. Structural measurements of specific features are also taken through oriented zones.
•
RC sample chips are logged in 1m intervals for the entire length of each hole. Regolith, lithology, alteration, veining and mineralisation are all recorded.
•
All logging is quantitative where possible and qualitative elsewhere. A photograph is taken of every core tray (wet).
•
In all instances, the entire drill hole is logged.

Paradigm Section 1 Sampling Techniques and Data
Criteria Commentary
Sub-sampling
techniques and
sample
preparation		 •
All diamond core that was half-core sampled was cut longitudinally with an automated core saw.
•
Sample preparation was conducted by ALS Global or Bureau Veritas Australia, commencing with sorting, checking and drying at less
than 110°C to prevent sulphide breakdown.
Samples are jaw crushed to a nominal 3mm particle size. The entire crushed sample is then pulverized to 90% passing 75μm, using a bowl or ring-mill pulveriser. 300g Pulp subsamples
are then taken with an aluminium scoop and stored in labelled pulp packets.
•
Grind checks are performed at both the crushing stage (3mm) and pulverising stage (75μm), requiring 90% of material to pass through the relevant size to ensure consistent sample
preparation.
•
All RC samples are split using a rig-mounted cone splitter to collect a 1m sample 2-3kg in size. All samples were intended and assumed to be dry, moisture content was recorded for
every sample.
•
Field duplicates were taken for RC samples on a ratio of 1 in 20.
•
Umpire sampling programs are carried out quarterly.
Quality of
assay data and
laboratory
tests		 •
A 40-50g fire assay charge is used with a lead flux, dissolved in the furnace. The prill is totally digested in HCl and HNO3 acids before Atomic Absorption Spectroscopy (AAS)
determination for gold analysis. This method ensures total gold is reported appropriately.
•
No geophysical tools were used to determine any element concentrations
•
Certified Reference Materials (CRMs) are inserted into the sample sequence randomly at a rate of 1 per 20 composite samples to ensure correct calibration. Any values outside of 3
standard deviations are scrutinised and re-assayed with a new CRM if the failure is deemed genuine.
•
Blanks are inserted into the sample sequence at a rate of 1 per 20 composite samples. Failures above 0.1g/t are scrutinised, and
re-assayed if required. New pulps are prepared if
failures remain.
•
Field Duplicates are taken for all RC samples and submitted for analysis based on a range of primary assay results skewed towards anomalous gold grades. No Field duplicates are
submitted for diamond core. However Pulp Dups are conducted for 5%.
•
All sample QAQC results are assessed by geologists to ensure the appropriate level of accuracy and precision when the results
have been returned from the laboratory.
Verification of
sampling and
assaying		 •
All significant intersections are verified by the project geologist and senior geologist during the drill hole validation process.
•
Half core and sample pulps are retained at Mungari if further verification is required.
•
No Twinned holes were drilled for this data set
•
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.
•
No adjustments or calibrations have been made to the final assay data reported by the laboratory.

Paradigm Section 1 Sampling Techniques and Data
Criteria Commentary
Location of
data points		 •
A planned hole is pegged using a Differential GPS by the field assistants. The final collar is picked up after hole completion with a Differential GPS in the MGA 94_51 grid.
•
During drilling single-shot surveys are every 30m to ensure the hole remains close to design. This is performed using the Axes or Reflex system which measures the gyro dip and
azimuth results are uploaded directly from the software export into the Acquire database.
•
Collar coordinates are recorded in MGA94 Zone 51
Data spacing
and
distribution		 •
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 data is composited before grade estimation is undertaken.
•
Compositing downhole within each estimation domain using a variable length compositing technique to a maximum length of one metre. The target composite length aligns with the
dominant sample length of the raw sample data.
Orientation of
data in relation
to geological
structure		 •
All drilling at surface is oriented as close as practical to perpendicular to the target structures. The orientation of all inferred target structures is well known and drill holes are only
designed where meaningful intercept angles can be achieved.
•
No sampling bias is considered to have been introduced by the drilling orientation.
Sample
security		 •
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.
Audits or
reviews		 •
A Lab audit with ALS Global in Kalgoorlie was completed on the 5th of July 2022. No actions were issued as a result of the audit.

Paradigm Section 2 Reporting of Exploration Results
Criteria Commentary
Mineral
tenement and
land tenure
status		 •
All holes mentioned in this report are located within located within Mining Lease M16/548 which is owned by Kundana Gold Pty Ltd, a wholly owned subsidiary of Evolution Mining
(Mungari) Pty Ltd.
•
Access to the project areas is via gazetted roads and fair-weather haul routes located on EVN owned Miscellaneous and Mining leases or, via Access Agreement from a third party
•
The State Government royalty of 2.5% NSR applies on gold produced.
•
An MGO royalty book is active and updated regularly that records and stores royalty information for specific leases.
•
Some resources have third party royalties based on:
•
Ore tonnes mined or processed payable to a 3rd party. These royalties can be capped
•
A \$/oz or percentage EVN produced from the lease
•
The tenements are in good standing and no known impediments exist.
Exploration
done by other
parties		 •
The Carbine -
Paradigm area has been explored since the late 1800's.
Numerous companies, including BHP, Newcrest, Centaur Mining, Goldfields Exploration, Placer Dome and
Barrick have conducted explroation and mining iwthin the area.
Geology •
The Carbine Paradigm area is considered to be northern extension of the regionally significant Zuleika Shear Zone.
The tenements are located in the Norseman-Wiluna Archaean
greenstone belt in the Eastern Goldfields province of the Yilgarn Craton, Western Australia.
•
Lithologies at Paradigm consist of a series of feldspathic volcaniclastic wackes intercalated with shales, siltstones and conglomerates, and form part of the Black Flag Group.
•
Gold mineralisation in the Zuleika Shear Zone and adjacent greenstone sequences occurs in all rock types, although historical
and recent production is dominated by two predominant
styles:
•
Brittle D2 faults with laminated (multiple crack-seal) quartz veining containing gold and trace base metal sulphides (galena, sphalerite, chalcopyrite, scheelite),
•
Brittle quartz vein stockworks developed within granophyric gabbro within the Powder Sill
•
At the Paradigm deposit, gold is hosted in veins and disseminated sulphides associated with shearing along the large scale Lincancunbur fault and adjacent fine grained stratigraphic
horizons
Drill hole
Information		 See the Paradigm
drill hole information summary table in this presentation.
Data
aggregation
methods		 •
All reported assay results have been length-weighted; no top cuts have been applied. Assay results are reported to a 0.8g/t Au lower cut over a minimum intersection of 1m for RC &
0.2m for DC.
•
A maximum of 2m of internal dilution (i.e. <2m @ <0.8g/t Au) is included for reporting RC intercepts targeting the supergene mineralisation & for DDH intercepts targeting the fresh rock
mineralisation.
•
No metal equivalent values are used for reporting exploration results.

Paradigm Section 2 Reporting of Exploration Results
Criteria Commentary
Balanced
reporting		 •
All Exploration and Resource Definition results have been reported in the Paradigm
drill hole information summary.
Other
substantive
exploration
data		 •
No other material exploration data has been collected for this drill program.
Further work •
Further work will include mining studies appropriate to EVNs current open-cut and underground mining methods. If mining studies yield a positive result, infill resource definition is
planned to convert Inferred Mineral Resource category to Indicated Mineral Resource category and to test for extensions to mineralisation along strike and down-dip that would likely
impact the economic outcome.
•
A feasibility has been conducted to determine the economics of reducing the Mungai Processing facility unit cost by increasing throughput from 2.0Mpta to 4.2Mtpa. This has reduced
COGs for the MGO Mineral Resource Statement.

MINERAL RESOURCES AND ORE RESERVES

GROUP GOLD MINERAL RESOURCES AT 31 DECEMBER 2022

Gold Measured Indicated Inferred Total Resource
Project Type Cut-off
(g/t Au)		 Tonnes (Mt) Gold
Grade
(g/t)		 Gold
Grade
(g/t)		 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)		 CP6
Cowal1 Open pit 0.35 29.5 0.46 440 182.9 0.86 5,033 26.5 0.80 682 238.9 0.80 6,155 1
Cowal UG 1.50 - - - 22.0 2.49 1,760 12.4 2.33 925 34.4 2.43 2,685 1
Cowal1 Total 29.5 0.46 440 204.9 1.03 6,793 38.8 1.29 1,607 273.3 1.01 8,840 1
Red Lake3 Total 2.5-3.3 - - - 35.7 6.66 7,639 24.8 5.90 4,702 60.4 6.35 12,342 2
Mungari1,4 Open pit 0.31-0.34 - - - 53.8 1.08 1,864 24.0 1.16 894 77.8 1.10 2,758 3
Mungari1,5 UG 1.46-2.44 1.4 4.66 205 9.7 4.28 1,332 8.7 3.74 1,043 19.7 4.07 2,580 3
Mungari1 Total 1.4 4.66 205 63.5 1.57 3,196 32.7 1.84 1,937 97.5 1.70 5,338 3
Mt Rawdon1 Total 0.23 5.5 0.30 54 21.0 0.58 389 2.3 0.48 35 28.8 0.52 478 4
Ernest Henry2 Total 26.4 0.78 664 44.0 0.74 1,050 24.4 0.74 579 94.8 0.75 2,292 5
Marsden Total 0.20 - - - 119.8 0.27 1,031 3.1 0.22 22 123.0 0.27 1,053 1
Total 62.8 0.68 1,362 488.9 1.28 20,098 126.1 2.19 8,882 677.8 1.39 30,343

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

Mineral Resources are reported inclusive of Ore Reserves

  1. Includes stockpiles

  2. Ernest Henry Operations reported Mineral Resources are reported within an interpreted 0.7% Cu mineralised envelope

  3. Red Lake Mineral Resource cut-off varies from 2.5g/t Au to 3.3g/t Au and is dependent on deposit and location from surface and processing plant

  4. Mungari Open Pit Mineral Resource cut-offs vary from 0.31g/t Au to 0.34g/t Au. The average open pit cut-off is 0.32g/t Au

  5. Mungari Underground Mineral Resource cut-offs vary from 1.46g/t Au to 2.44g/t Au per deposit. The average underground cut-off is 1.96g/t Au

  6. Group Gold Mineral Resources Competent Person (CP) Notes refer to 1. James Biggam; 2. Jason Krauss; 3. Brad Daddow; 4. Matthew Graham-Ellison; 5. Phil Micale

This information is extracted from the releases titled 'Annual Mineral Resources and Ore Reserves Statement' dated 16 February 2023 and "Mungari Mine Life Extended to 15 Years at 10 to 20% lower AISC" dated 5 June 2023 available to view at 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 release and that all material assumptions and parameters underpinning the estimates in the release 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 Reports

GROUP GOLD ORE RESERVES AT 31 DECEMBER 2022

( W I T H E R N E S T H E N RY J U N E 2 0 2 3 O R E R E S E R V E U P D AT E )

Gold Proved Probable Total Reserve Competent
Project Type Cut-off
(g/t Au)		 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)		 Person8
Cowal1,2 Open pit 0.45 27.4 0.47 414 86.2 0.99 2,745 113.6 0.87 3,160 1
Cowal3 UG 0.55/1.80 - - - 15.9 2.29 1,169 15.9 2.29 1,169 2
Cowal Total 27.4 0.47 414 102.1 1.19 3,915 129.5 1.04 4,329
Red Lake4 Total 2.5-4.0 - - - 13.0 6.90 2,878 13.0 6.90 2,878 3
Mungari5 UG 2.2-3.8 0.4 5.47 78 3.2 4.41 457 3.7 4.54 535 4
Mungari1,6 Open pit 0.57-0.74 - - - 20.7 1.06 703 20.7 1.06 703 5
Mungari1 Total 0.4 5.47 78 23.9 1.51 1,160 24.3 1.58 1,238
Mt Rawdon1 Open pit 0.31 1.9 0.40 25 9.0 0.66 191 10.9 0.61 216 6
Ernest Henry7,8 UG 0.50-0.75% CuEq 26.5 0.62 527 50.9 0.36 582 77.4 0.45 1,109 7
Marsden Open pit 0.30 - - - 65.2 0.39 817 65.2 0.39 817 8
Total 56.2 0.58 1043 264.0 1.12 9,544 320.3 1.03 10,587

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

  1. Includes stockpiles

  2. Ore Reserve has been updated for E42 Stage H Open Pit in line with 2022 corporate commodity price assumptions, updated modifying factors and allowing for depletion. All remaining 'Open Pit Continuation' Ore Reserves (OPC) are declared as per December 2021 Cowal Open Pit Ore Reserves. The OPC Ore Reserve will be updated at the completion of the OPC Feasibility Study ('FS'). Modifying factors to be updated during the FS include Mineral Resource, geotechnical, metallurgical, revenue and cost assumptions. To date, no fatal flaws have been identified during the FS. A materiality test was conducted on the impact of the change between the December 2021 and December 2022 Mineral Resource model on the OPC Ore Reserve, the change is expected to be less than 10%

  3. Cowal Underground Ore Reserve has been optimised using a \$1,600/oz price assumption, economically tested at up to \$2,200/oz and considers updated modifying factors and depletion. The Cowal Underground Ore Reserve includes development material at an incremental cut-off grade of 0.55g/t Au

  4. Red Lake Ore Reserve cut-off is 4.0g/t Au except for HG Young (3.0g/t Au) and Upper Campbell (2.5g/t Au)

  5. Mungari Underground Ore Reserve cut-off varies from 2.2g/t Au to 3.8g/t Au and is dependent on specific deposits and varies between each underground mine taking into account location and costs

  6. Mungari Open Pit Ore Reserves were optimised using a \$1,600/oz gold price assumption. The exceptions are the Paradigm and Castle Hill open pit operations which have been scheduled for production between 2023 and 2025 and have been optimised with a \$2,200/oz gold price assumption. Cut-offs vary by deposit from 0.57g/t Au to 0.74g/t Au and take into account location and costs

  7. Ernest Henry reported Ore Reserve estimate is based on the December 2022 Mineral Resource detailed in the ASX Release titled "Annual Mineral Resources and Ore Reserves Statement" dated 16 Feb 2023 and available to view at www.evolutionmining.com.au. The applied flow model cut-off grades of 0.50 % and 0.75% copper equivalent ('CuEq') are determined through an economic evaluation process which considers the Net Smelter Return (NSR) and operating costs. The utlised copper equivalent equation is: CuEq = Cu + Au NSR/56.4 where; Au NSR = 38.5 * Au - 0.04 8. Ernest Henry reported Ore Reserve estimate is depleted to 30 June 2023

  8. Group Gold Ore Reserve Competent Person (CP) Notes refer to 1. Dean Basile (Mining One); 2. Ryan Bettcher; 3. Brad Armstrong; 4. Blake Callinan; 5. Ben Young; 6. Michael Corbett; 7. Anton Kruger

This information is extracted from the releases titled 'Annual Mineral Resources and Ore Reserves Statement' dated 16 February 2023, "Mungari Mine Life Extended to 15 Years at 10 to 20% lower AISC" dated 5 June 2023 and "Ernest Henry Mine Life Extended to 2040 and Ore Reserves Doubled" dated 5 June 2023 available to view at 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 release and that all material assumptions and parameters underpinning the estimates in the release 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 Reports

GROUP RESOURCES & RESERVES AT 31 DECEMBER 2022 ( W I T H E R N E S T H E N RY J U N E 2 0 2 3 O R E R E S E R V E U P D AT E )

Group Mineral Resource – contained copper

Copper Measured Indicated Inferred Total Resource
Project Type Cut-off Tonnes
(Mt)		 Copper
Grade
(%)		 Copper
Metal
(kt)		 Tonnes
(Mt)		 Copper
Grade (%)		 Copper
Metal
(kt)		 Tonnes
(Mt)		 Copper
Grade (%)		 Copper
Metal
(kt)		 Tonnes
(Mt)		 Copper
Grade (%)		 Copper
Metal
(kt)		 CP1
Marsden Total 0.2g/t Au - - - 119.8 0.46 553 3.1 0.24 7 123.0 0.46 560 1
Ernest Henry Total 0.7% Cu 26.4 1.36 359 44.0 1.28 565 24.4 1.16 283 94.8 1.27 1,207 2
Total 26.4 1.36 359 163.8 0.68 1,118 27.5 1.06 291 217.7 0.81 1,767

Data is reported to significant figures to reflect appropriate precision and may not sum precisely due to rounding Ernest Henry Operations reported Mineral Resources are within an interpreted 0.7% Cu mineralised envelope 1. Group Mineral Resources Competent Person (CP) Notes refer to: 1. James Biggam; 2. Phil Micale

Group Ore Reserve – contained copper

Copper Proved Probable Total Reserve
Project Type Cut-Off Tonnes (Mt) Copper
Grade (%)		 Copper
Tonnes (Mt)
Metal (kt)		 Copper
Grade (%)		 Copper
Metal (kt)		 Tonnes (Mt) Copper Grade
(%)		 Copper
Metal (kt)		 CP4
Marsden Total 0.3g/t Au - - - 65.2 0.57 371 65.2 0.57 371 1
Ernest Henry2,3 Total 0.50-0.75% CuEq 26.5 1.08 287 50.9 0.59 302 77.4 0.76 589 2
26.5 1.08 287 116.1 0.58 673 142.6 0.67 960

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

  1. Ernest Henry reported Ore Reserve estimate is based on the December 2022 Mineral Resource detailed in the ASX Release titled "Annual Mineral Resources and Ore Reserves Statement" dated 16 Feb 2023 and available to view at

www.evolutionmining.com.au . The applied flow model cut-off grades of 0.50 % and 0.75% copper equivalent ('CuEq') are determined through an economic evaluation process which considers the Net Smelter Return (NSR) and operating costs. The utlised copper equivalent equation is: CuEq = Cu + Au NSR/56.4 where; Au NSR = 38.5 * Au - 0.04

  1. Ernest Henry reported Ore Reserve estimate is depleted to 30 June 2023

  2. Group Ore Reserve Competent Person (CP) Notes refer to: 1. Anton Kruger; 2. Michael Corbett

This information is extracted from the releases titled 'Annual Mineral Resources and Ore Reserves Statement' dated 16 February 2023, "Mungari Mine Life Extended to 15 Years at 10 to 20% lower AISC" dated 5 June 2023 and "Ernest Henry Mine Life Extended to 2040 and Ore Reserves Doubled" dated 5 June 2023 available to view at 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 release and that all material assumptions and parameters underpinning the estimates in the release 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 Reports

ADDITIONAL SITE INFORMATION

PROCESS PLANT CIRCUIT

PROCESS EQUIPMENT

  • Power
  • Western Power grid supply

▪ Crushing

  • Three stage crushing
  • Primary: Metso 40" single toggle jaw crusher
  • Secondary: Metso Cone HP 4 coarse liners
  • Tertiary: Metso Cone HP 4 coarse liners

▪ Grinding

  • Polysius overflow ball mill 5.5m (dia.) 8.74m (l)
  • 4.5 MW power, Hoffman gearbox, VSD, dual direction
  • Magotteaux 100mm balls (100%)
  • Polymet composite liners
  • Grind size 75% 150µm

▪ Gravity Circuit

  • 2 x Knelson concentrator 30"
  • 40-60% of gold recovered via gravity
  • Leaching
  • CIL circuit
  • 2 x 1,140m3 leaching tank
  • 6 x 750m3 adsorption tanks
  • Cyanide supply CSBP
  • Lime supply Cockburn

MINING EQUIPMENT

Underground mining equipment

  • Development drills
  • 5 x development jumbo Sandvik DD421
  • Production drills - 5 x longhole drills
  • 4x Epiroc S7C Simba
  • 1x Epiroc ME7 Simba
  • 1x Sandvik Solo 7S
  • Underground mine trucks
  • 5 x Sandvik TH551i
  • 4 x Sandvik TH663i
  • 2 x Caterpillar AD60
  • Underground loaders
  • 7x Sandvik LH517i
  • 1x Caterpillar R1700G

  • 1x Caterpillar R2900G

  • Ancillary Equipment

  • 4x Normet 1614B Charmec
  • 2x Epiroc Rocmec charge wagon
  • 2x Caterpillar 140M grader
  • 1x Caterpillar 980H wheel loader
  • 9x Volvo wheel loaders ( L120H, L120F, L110F, L50H, L35B)
  • 3x Caterpillar wheel loaders ( IT28G, IT924G)
  • 1x Normet L600 agitator truck
  • 1x Jacon sprayer Maxijet

MINING EQUIPMENT

Open -pit mining equipment

▪ Loading

  • 1 x 250t Hitachi EX2600
  • 1 x 110t Komatsu PC1250 (batters)

▪ Hauling

  • 5 x 135t Caterpillar 785 dump trucks
  • Dozers
  • 2 x Caterpillar D10T
  • Haul road maintenance
  • 1 x Caterpillar 773D 40,000L water cart
  • 1 x Caterpillar 16M grader
  • Drilling
  • 5 x Sandvik DP1500i drills, (115, 102mm, 5m bench blasting)

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