EVOLUTION MINING LIMITED - Capital/Financing Update 2026

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Evolution Mining Limited

ABN 74 084 669 036

Sydney Office P +61 2 9696 2900 F +61 2 9696 2901 Level 24 175 Liverpool Street Sydney NSW 2000

ASX Announcement

www.evolutionmining.com.au

15 April 2026

EXPLORATION UPDATE – Promising Exploration Results from Mungari and Cowal, Progress on New Discovery Opportunities

Key highlights

Drilling delivers high-grade intercepts at Mungari and Cowal, extending mineralisation along strike and at depth across both deposits

At Mungari, step-out drilling from Kundana has confirmed extensions of high-grade mineralisation at Genesis and Arctic, with intercepts extending known mineralised corridors near existing infrastructure and supporting potential for underground mine life extensions at current production rates. Highlights from drilling at Genesis include:
0.29m (0.17m estimated true width (‘etw’)) grading 336 g/t gold from 410.6m (GEGTT25011)
o 0.19m (0.12m etw) grading 784 g/t gold from 424.04m (GERT25026)
At Cowal, drilling continues to delineate new growth options, with high-grade results from the emerging Oban underground target and encouraging results beyond the pit outline at E41 highlighting the potential to unlock additional mining fronts and extend future production . The Oban drilling results include the following highlight intercept:
20.0m (14.0m etw) grading 8.22 g/t gold from 456m (RDU0225)
In North Queensland, exploration is being accelerated around Ernest Henry following consolidation of a large tenement package, with multiple gold-copper targets identified that have potential to provide future ore feed to help fill the mill. In Canada, permitting and engagement activities in support of drilling are underway at the Two Times Fred and Clisbako projects in British Columbia, while drilling is underway at ‑
the October Gold Joint Venture in Ontario, where several high priority targets are being tested.

Evolution Mining’s Vice President - Discovery, Glen Masterman said:

‑ “We are excited by results received from recent exploration programs, particularly the high grade results returned from Mungari and emerging growth opportunities at Cowal. These results confirm the potential for exploration to deliver future production growth at both operations while also opening up entirely new discovery targets.

Importantly, and in line with our Discovery strategy, we are building a pipeline of drill-ready exploration targets in North Queensland and Canada positioned to underpin production growth over the medium to long term. We look forward to reporting results of this work as our programs progress over the next 12 months.”

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Evolution Mining

Mungari, Western Australia

Genesis

At Genesis, drilling has been targeting extensions to the Mineral Resource[1] down-dip and along a ~300m underexplored gap northwards to the Barkers orebody along the same structural corridor (Figure 1). Drilling has returned high-grade gold intercepts including:

0.29m (0.17m etw) grading 336g/t gold from 410.6m (GEGTT25011)
0.19m (0.12 etw) grading 784 g/t gold from 424.04m (GERT25026)
0.20m (0.17m etw) grading 95g/t gold from 446.95m (BKRT25008)
0.72m (0.39m etw) grading 46.7g/t gold from 392.39m (GEGTT25010)

These results highlight the opportunity for additional lodes and extensions in the gap between the two orebodies. Ongoing drilling is planned to systematically test this position to define the scale and continuity of mineralisation.

Arctic

Further high-grade gold intercepts have been returned from surface drilling beneath the Arctic Mineral Resource[2] at Kundana along the interpreted Strzelecki structure (Figure 1). Key results include:

1.44m (1.15m etw) grading 44 g/t gold from 197.56m (ARDD25019)
0.45m (0.36m etw) grading 94.4 g/t gold from 246.63m (ARDD25007)

These intercepts build on results from previously reported drilling[3] and demonstrate the potential to expand underground Mineral Resources at Arctic, particularly in areas that remain untested at depth.

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Figure 1: A location map showing drilling activity and notable drilling results around Kundana at Genesis and Arctic. Refer to Table 1 for detailed results.

1 See the ASX announcement titled ‘Annual Mineral Resources and Ore Reserves Statement’, dated 6 June 2025 and ‘Clarification Announcement’ dated 2 September 2025 available to view at www.evolutionmining.com.au.

2 See the ASX Announcement titled ‘Annual Mineral Resources and Ore Reserves Statement’, dated 6 June 2025 and available to view at www.evolutionmining.com.au.

3 See the ASX Announcement titled ‘Exploration update – encouraging results from Mungari and Northparkes,’ dated 15 July 2025 and available to view at www.evolutionmining.com.au.

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Evolution Mining

Cowal, New South Wales

E41

Surface exploration drilling at E41 is returning significant drilling results outside of the planned open-pit[4] (Figure 2). New drill results from E41 include:

91.0m (63.7m etw) grading 1.05 g/t gold from 455m (E41D2955)
Including 13.0m (9.1m etw) grading 4.05 g/t gold from 516m
9.0m (5.4m etw) grading 5.83 g/t gold from 379m (E41D2960)
35.0m (24.5m etw) grading 1.08 g/t gold from 894m (E41D2951)

E41 is an important future ore source at Cowal, and these results highlight the opportunities to grow the deposit. Of note are the results from E41D2955, which was drilled from south to north perpendicular to mineralised veins, which returned mineralised intercepts in areas previously considered tested. This highlights the potential to grow E41 where historic drilling was mostly conducted parallel to mineralised veins, leaving multiple mineralised vein orientations inadequately tested, particularly to the north toward E42 and the Cowal underground. Drilling will recommence in the June quarter to infill and further understand the E41 footprint ahead of planned development.

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Figure 2: Long section between E41 and E42 showing recent exploration drilling results from drilling around E41 and from the Cowal underground at the Oban target .

Cowal underground - Oban

Underground drilling at the new Oban target is returning mineralised intercepts targeting mine scale faults and an important geological contact that elsewhere in the underground mine is known to be a favourable position for hosting high-grade mineralisation (Figure 2 & 3). This drilling is following up previously reported results[5] with new holes drilled on 200 metre centres with the aim of delineating scale and continuity of mineralisation.

4 See the ASX Announcement titled ‘Annual Mineral Resources and Ore Reserves Statement’, dated 6 June 2025 and available to view at www.evolutionmining.com.au. 5 See the ASX Announcement titled ‘Exploration Success Driving Future Growth Options’, dated 22 January 2025 and available to view at www.evolutionmining.com.au.

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Evolution Mining

Recent drilling highlights from Oban include (Figure 2 and 3):

3.0m (1.9m etw) grading 32.67 g/t gold from 396m (RDU0225)
20.0m (14.0m etw) grading 8.22 g/t gold from 456m (RDU0225)
3.22m (2.25m etw) grading 17.09 g/t gold from 219m (RDU0295)
28.0m (19.6m etw) grading 1.95 g/t gold from 289m (RDU0296A)

Oban will be a major focus for future exploration, targeting high-grade mineralisation underground in an underexplored position that has the potential to form a new, independent mining front at the Cowal underground.

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Figure 3: Plan view showing historic drilling along with recent Oban results on the western side of the Glenfiddich fault. The map is a 200m slice centred on 650mRL.

New discovery opportunities

North Queensland

Evolution is accelerating exploration surrounding the Ernest Henry Operations, targeting the discovery of new opportunities with potential to fully utilise latent milling capacity in the processing plant. The Company’s consolidated landholding has expanded to 1,982 km² following the acquisition of subsidiary Isa Tenements Pty Ltd from GBM Resources in January 2026.[6] This transaction further strengthens Evolution’s regional growth pipeline, adding highquality drill-ready exploration targets (Figure 4).

The recent land acquisition has secured full access to the FC4 prospects, located approximately 12 km north of Ernest Henry (Figure 5). Historic drilling has identified multiple zones of shallow copper anomalism that remain open in several directions and poorly tested at depth. Drilling during the June and September quarters will focus on FC4 and follow-up targets.

6 For more information on the acquisition of subsidiary Isa Tenements Pty Ltd from GBM Resources see the ASX Announcement titled ‘December 2025 Quarterly Report’, dated 21 January 2026 and available to view at www.evolutionmining.com.au.

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Evolution Mining

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Figure 4: Evolution’s exploration tenement holdings surrounding Ernest Henry Operations, showing prospect areas at drill-ready or target definition stage. Background image is reduced-to-pole magnetic geophysical data.

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Figure 5: Plan map of FC4 showing interpreted extents of coherent >0.1% copper anomalism in historic drilling, indicative of earlystage exploration target areas at the FC4 prospects. Copper anomaly interpretations are based on data above -300mRL and exclude deeper mineralization at Ernest Henry.

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Evolution Mining

Canada

British Columbia

Following the acquisition and option of the Two Times Fred and Clisbako exploration projects in February 2026,[7] Evolution is progressing First Nations engagement and permitting, with plans to drill both projects during the June and September 2026 quarters.

Both projects are in the Nechako basin of Central British Columbia, a prolific region for porphyry copper-goldmolybdenum and gold-silver epithermal deposits. Exploration completed to date at Two Times Fred and Clisbako has outlined several compelling, drill-ready epithermal gold targets that have the potential, subject to successful drilling, to deliver future production growth to the Group’s portfolio.

October Gold JV, Ontario

Evolution is currently drilling at the October Gold Project, a joint venture with OnGold Resource (TSXV: ONAU) where Evolution can earn a 75% ownership interest.[8] Evolution has delineated several compelling exploration targets through geophysical surveys, geochemical sampling, and geological mapping.

October Gold straddles the Rideout deformation zone, ~35 km northwest of IAMGOLD Corporation’s and Sumitomo Metal Mining’s Côté Lake project and is prospective for the discovery of large-scale Archaean greenstone gold deposits.

Assay results from the ongoing drill program are expected in the June 2026 quarter.

7 For more information on the Two Times Fred and Clisbako acquisitions see the ASX Announcement titled ‘Growth projects approved to deliver higher returns across the portfolio’, dated 11 February 2026 and available at www.evolutionmining.com.au. 8 For more information on the October Gold JV see the ASX Announcement titled ‘Exploration Success Continues at Cowal and Ernest Henry’, dated 17 January 2024 and available at www.evolutionmining.com.au.

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Evolution Mining

Competent Person’s statement

Evolution employees acting as a Competent Person may hold equity in Evolution Mining Limited and may be entitled to participate in Evolution’s executive equity long-term incentive plan, details of which are included in Evolution’s annual Remuneration Report. Annual replacement of depleted Ore Reserves is one of the performance measures of Evolution’s long-term incentive plans.

The information in this release relating to the Mineral Resource is extracted from the release titled ‘Annual Mineral Resources and Ore Reserves Statement’ dated 6 June 2025, available to view on the company’s website. 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 report.

Mungari exploration results

The information in this report that relates to Mungari exploration results is based on work compiled by Mr Bradley Daddow who is employed on a full-time basis by Evolution Mining Limited and is a Member of the Australian Institute of Geoscientists (member number 7736). Mr Daddow has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Mr Daddow consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Cowal exploration results

The information in this report that related Cowal exploration results is based on work compiled by Mr Zachary Murphy who is employed on a full-time basis by Evolution Mining Limited and is a Member of the Australian Institute of Geoscientists (member number 8686). Mr Murphy has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Mr Murphy consents to the inclusion in this report of the matters based his information in the form and context in which it appears.

Approval

This announcement is authorised by Evolution Mining’s Chair, Jake Klein.

Forward looking statements

This report prepared by Evolution Mining Limited (or ‘the Company’) includes 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

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Evolution Mining

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.

For further information please contact:

Investor enquiries

Peter O’Connor General Manager Investor Relations Evolution Mining Limited T +61 2 9696 2933

Media contact Michael Vaughan Media Relations Fivemark Partners T +61 422 602 720

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Evolution Mining

Appendix A: JORC Code 2012 Assessment and Reporting Criteria

Mungari – Arctic drill hole information summary

All available assays received in the period are reported. Both high ‑ and low ‑ grade results are included to provide a fair, balanced summary of drilling outcomes. Results below are reported at a 3 g/t Au lower cut-off and a maximum of 1m internal dilution. An intercept result below 3 g/t Au is considered No Significant Intercept and is denoted in the table as NSI. A negative dip indicates downward direction.

Hole ID	Hole type	Easting MGA (m)	Northing MGA (m)	Elevation AHD (m)	Dip	Azimuth	Hole length (m)	From (m)	Downhole width (m)	Estimated true width (m)	Gold grade (g/t)
ARDD25007	DD	6602722	329503	360	-51	30	500.00	246.63	0.45	0.36	94.39
ARDD25008	DD	6602617	329555	360	-48	31	306.40	285.60	0.40	0.32	3.16
ARDD25009	DD	6602612	329516	360	-66	31	422.00	373.4	1.15	0.92	2.96
ARDD25010	DD	6602570	329580	360	-65	30	410.00	393.10	0.90	0.72	3.87
ARDD25011	DD	6602402	329497	346	-62	29	650.40	627.75	0.47	0.38	8.59
ARDD25012	DD	6602447	329764	345	-61	29	328.00				NSI
ARDD25013	DD	6602383	329817	345	-58	30	345.90	292.30	0.35	0.28	6.90
ARDD25014	DD	6602344	329881	344	-60	29	336.70	260.60	0.74	0.59	16.65
ARDD25015	DD	6602282	329839	345	-69	30	510.80				NSI
ARDD25016	DD	6602229	330329	343	-60	29	126.80	80.80	0.70	0.56	34.58
ARDD25017	DD	6602175	330388	343	-61	30	109.00	87.40	0.53	0.42	17.09
ARDD25018	DD	6602106	330241	343	-51	31	303.70	229.30	0.30	0.24	12.94
ARDD25019	DD	6602098	330332	343	-63	30	216.80	197.56	1.44	1.15	44.03
ARDD25020	DD	6602015	330263	344	-64	30	348.70	321.50	0.80	0.64	21.70
ARDD25021	DD	6601777	330128	349	-61	34	594.80	248.00	1.00	0.80	3.58
ARDD26001	DD	6602477	329963	343	-55	29	303.94	120.40	0.31	0.25	6.38
ARDD26002	DD	6602401	330013	343	-52	29	339.70				NSI
ARDD26003	DD	6602341	330060	343	-50	28	346.70				NSI
ARDD26004	DD	6602291	330052	343	-52	25	412.00				NSI
ARDD26005	DD	6602261	330122	343	-53	25	390.40				NSI

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Evolution Mining

Mungari – Genesis and Pope John drill hole information summary

Hole ID	Hole type	Easting MGA (m)	Northing MGA (m)	Elevation AHD (m)	Dip	Azimuth	Hole length (m)	From (m)	Downhole width (m)	Estimated true width (m)	Gold grade (g/t)
BKRSD25005	DD	6600909	330994	-259	1	184	387.20	341.00	0.29	0.08	11.45
BKRSD25006	DD	6600909	330994	-259	-6	186	389.40	10.83	0.33	0.15	12.97
BKRSD25008	DD	6600909	330994	-259	-1	191	369.30				NSI
BKRSD25009	DD	6600909	330994	-259	-9	194	380.57	219.85	0.53	0.15	20.33
BKRSD25009	DD	6600909	330994	-259	-9	194	380.57	284.14	0.26	0.10	43.78
BKRSD25009	DD	6600909	330994	-259	-9	194	380.57	347.70	0.45	0.40	149.65
BKRSD25011	DD	6600909	330994	-259	-1	205	324.00	286.00	0.70	0.25	4.27
BKRSD25011	DD	6600909	330994	-259	-1	205	324.00	299.76	1.25	0.75	12.63
BKRSD25012	DD	6600909	330994	-259	-10	202	354.45	252.00	0.46	0.30	3.04
BKRSD25012	DD	6600909	330994	-259	-10	202	354.45	264.80	0.37	0.15	5.70
BKRSD25012	DD	6600909	330994	-259	-10	202	354.45	329.50	0.33	0.20	3.52

BKRSD25012	DD	6600909	330994	-259	-10	202	354.45	331.39	1.28	0.95	18.25
BKRT25001	DD	6600907	330997	-259	20	176	398.87	375.97	1.03	0.65	5.72
BKRT25002	DD	6600907	330997	-259	11	173	30.40				NSI
BKRT25002A	DD	6600907	330997	-259	12	173	428.41				NSI
BKRT25003	DD	6600907	330998	-259	3	179	448.00	387.00	1.00	0.05	3.66
BKRT25004	DD	6600907	330998	-258	9	165	520.51				NSI
BKRT25007	DD	6600907	330998	-259	-9	182	462.21	378.00	0.96	0.10	3.56
BKRT25007	DD	6600907	330998	-259	-9	182	462.21	411.25	0.23	0.16	13.11
BKRT25008	DD	6600907	330998	-259	-7	178	474.22	372.38	0.42	0.15	11.47
BKRT25008	DD	6600907	330998	-259	-7	178	474.22	396.90	1.09	0.52	8.04
BKRT25008	DD	6600907	330998	-259	-7	178	474.22	446.95	0.20	0.17	95.03
BKRT25009	DD	6600907	330998	-259	-9	173	528.10	461.85	0.30	0.22	3.27
BKRT25010	DD	6600907	330998	-260	-12	171	603.08	479.00	0.28	0.18	16.69
BKRT25010	DD	6600907	330998	-260	-12	171	603.08	555.28	0.40	0.15	136.30

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Evolution Mining

Hole ID	Hole type	Easting MGA (m)	Northing MGA (m)	Elevation AHD (m)	Dip	Azimuth	Hole length (m)	From (m)	Downhole width (m)	Estimated true width (m)	Gold grade (g/t)
BKRT25011	DD	6600907	330998	-259	-3	171	537.00				NSI
BKRT25012	DD	6600907	330998	-259	-2	164	455.92				NSI
BKRT25013	DD	6600907	330998	-260	-8	163	459.30				NSI
BKRT25014	DD	6600907	330998	-259	-16	170	456.18	441.75	0.12	0.08	54.74
BKRT25015	DD	6600907	330998	-260	-8	156	498.10	26.41	0.38	0.15	6.97
BKRT25016	DD	6600906	330998	-259	-20	161	504.07				NSI
GEGTT25001	DD	6600434	331310	-184	0	195	184.71				NSI
GEGTT25002	DD	6600435	331309	-184	0	247	179.61	104.32	0.31	0.15	5.40
GEGTT25003	DD	6600435	331309	-184	-16	239	209.71	39.69	0.27	0.13	4.82
GEGTT25003	DD	6600435	331309	-184	-16	239	209.71	123.70	0.39	0.16	34.07
GEGTT25003	DD	6600435	331309	-184	-16	239	209.71	165.00	1.75	0.82	9.21
GEGTT25004	DD	6600434	331310	-185	-21	220	221.90	106.82	0.30	0.18	111.90
GEGTT25005	DD	6600434	331310	-185	-26	236	256.03				NSI
GEGTT25006	DD	6600493	331412	-169	-23	227	384.00	84.71	0.20	0.09	3.20
GEGTT25006	DD	6600493	331412	-169	-23	227	384.00	85.25	0.30	0.13	3.11
GEGTT25006	DD	6600493	331412	-169	-23	227	384.00	184.22	0.28	0.11	12.61
GEGTT25006	DD	6600493	331412	-169	-23	227	384.00	263.00	3.00	1.50	4.26
GEGTT25006	DD	6600493	331412	-169	-23	227	384.00	273.00	1.00	0.50	4.49
GEGTT25007B	DD	6600492	331413	-169	-29	223	426.10	112.79	0.21	0.20	9.14
GEGTT25008	DD	6600494	331412	-169	-26	234	416.00				NSI
GEGTT25009	DD	6600494	331412	-169	-32	237	465.15	110.87	0.29	0.28	91.20
GEGTT25009	DD	6600494	331412	-169	-32	237	465.15	393.46	1.54	0.75	4.77
GEGTT25009	DD	6600494	331412	-169	-32	237	465.15	399.90	1.25	0.75	8.98
GEGTT25010	DD	6600494	331412	-169	-27	243	439.03	87.34	0.33	0.12	3.15
GEGTT25010	DD	6600494	331412	-169	-27	243	439.03	93.00	1.00	0.45	4.11
GEGTT25010	DD	6600494	331412	-169	-27	243	439.03	95.80	0.20	0.20	13.56
GEGTT25010	DD	6600494	331412	-169	-27	243	439.03	185.05	0.69	0.35	6.24
GEGTT25010	DD	6600494	331412	-169	-27	243	439.03	392.39	0.72	0.39	46.67

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Hole ID	Hole type	Easting MGA (m)	Northing MGA (m)	Elevation AHD (m)	Dip	Azimuth	Hole length (m)	From (m)	Downhole width (m)	Estimated true width (m)	Gold grade (g/t)
GEGTT25011	DD	6600494	331412	-169	-30	245	484.07	145.26	0.55	0.20	6.59
GEGTT25011	DD	6600494	331412	-169	-30	245	484.07	410.60	0.29	0.17	336.20
GEGTT25011	DD	6600494	331412	-169	-30	245	484.07	428.00	0.38	0.22	18.48
GEGTT25012	DD	6600494	331412	-169	-24	252	447.18	84.00	0.94	0.40	33.47
GEGTT25012	DD	6600494	331412	-169	-24	252	447.18	88.65	0.25	0.25	3.65
GEGTT25012	DD	6600494	331412	-169	-24	252	447.18	89.73	0.27	0.27	5.02
GEGTT25012	DD	6600494	331412	-169	-24	252	447.18	147.17	0.25	0.10	13.31
GEGTT25012	DD	6600494	331412	-169	-24	252	447.18	423.70	0.21	0.09	66.41
GERSD24021	DD	6599899	331302	-110	-22	348	482.85	182.00	1.00	0.50	5.60
GERSD24021	DD	6599899	331302	-110	-22	348	482.85	443.20	0.24	0.15	67.40
GERSD24021	DD	6599899	331302	-110	-22	348	482.85	459.34	0.66	0.40	7.74
GERSD24024	DD	6599899	331302	-110	-32	350	420.04	170.68	0.61	0.40	7.05
GERSD24024	DD	6599899	331302	-110	-32	350	420.04	373.61	2.74	1.25	67.24
GERSD24025	DD	6599899	331302	-110	-36	348	434.55	201.79	0.29	0.12	4.23
GERSD24025	DD	6599899	331302	-110	-36	348	434.55	251.78	0.22	0.12	4.79
GERSD24025	DD	6599899	331302	-110	-36	348	434.55	383.75	0.14	0.08	65.90
GERSD24027	DD	6599899	331302	-110	-29	348	451.00	221.69	0.44	0.15	4.50
GERSD24027	DD	6599899	331302	-110	-29	348	451.00	223.94	1.06	0.45	4.83
GERSD24027	DD	6599899	331302	-110	-29	348	451.00	379.88	0.37	0.05	38.10
GERSD24027	DD	6599899	331302	-110	-29	348	451.00	389.71	0.13	0.08	5.30
GERSD24028	DD	6599899	331302	-110	-33	346	485.60	220.20	1.00	0.40	7.74
GERSD24028	DD	6599899	331302	-110	-33	346	485.60	223.43	0.20	0.14	50.10
GERSD24084	DD	6599899	331303	-110	-51	001	410.00	249.45	0.17	0.12	37.71
GERSD24084	DD	6599899	331303	-110	-51	001	410.00	378.32	0.28	0.19	62.91
GERSD25007	DD	6599893	331308	-111	-50	027	367.00	137.10	0.90	0.40	27.00
GERSD25007	DD	6599893	331308	-111	-50	027	367.00	327.55	0.20	0.13	111.00
GERSD25008	DD	6599893	331308	-111	-56	024	392.50	356.36	0.52	0.35	15.97
GERSD25009	DD	6599893	331308	-111	-60	024	395.50	370.48	0.41	0.28	8.34

Page 12 of 48

Evolution Mining

Hole ID	Hole type	Easting MGA (m)	Northing MGA (m)	Elevation AHD (m)	Dip	Azimuth	Hole length (m)	From (m)	Downhole width (m)	Estimated true width (m)	Gold grade (g/t)
GERSD25010	DD	6599893	331308	-111	-54	011	394.00	7.50	0.25	0.10	3.58
GERSD25010	DD	6599893	331308	-111	-54	011	394.00	252.34	0.10	0.08	50.12
GERSD25010	DD	6599893	331308	-111	-54	011	394.00	361.45	0.15	0.07	5.99
GERSD25010	DD	6599893	331308	-111	-54	011	394.00	362.06	0.24	0.11	3.53
GERSD25010	DD	6599893	331308	-111	-54	011	394.00	366.04	0.96	0.15	4.38
GERSD25011	DD	6599899	331301	-110	-36	343	434.30	282.00	1.00	0.10	3.12
GERSD25014	DD	6599776	331345	-247	-47	060	290.48	269.50	0.24	0.12	52.51
GERSD25015	DD	6599777	331345	-247	-43	052	289.00	259.63	0.12	0.07	89.80
GERSD25016	DD	6599777	331345	-247	-49	052	299.40	274.53	0.17	0.10	317.60
GERSD25017	DD	6599780	331332	-246	-40	047	298.99	187.05	0.10	0.05	3.01
GERSD25017	DD	6599780	331332	-246	-40	047	298.99	209.00	1.00	0.35	3.80
GERSD25017	DD	6599780	331332	-246	-40	047	298.99	264.36	0.15	0.08	121.10
GERSD25017	DD	6599780	331332	-246	-40	047	298.99	267.61	0.39	0.21	8.72
GERSD25017	DD	6599780	331332	-246	-40	047	298.99	290.25	0.98	0.42	8.41
GERSD25018	DD	6599780	331332	-246	-45	047	306.88	174.00	1.00	0.15	3.27
GERSD25018	DD	6599780	331332	-246	-45	047	306.88	276.48	0.61	0.38	23.17
GERSD25018	DD	6599780	331332	-246	-45	047	306.88	284.00	1.00	0.50	3.75
GERSD25019	DD	6599780	331332	-246	-47	043	312.00	288.00	1.00	0.50	10.87
GERSD25020	DD	6599780	331332	-246	-50	039	329.09	180.35	0.15	0.05	37.02
GERSD25020	DD	6599780	331332	-246	-50	039	329.09	303.90	0.27	0.12	80.47
GERSD25021	DD	6599781	331325	-246	-48	034	342.06	175.00	1.00	0.25	19.01
GERSD25021	DD	6599781	331325	-246	-48	034	342.06	194.45	0.42	0.21	9.83
GERSD25021	DD	6599781	331325	-246	-48	034	342.06	318.00	1.00	0.50	3.27
GERSD25022	DD	6599781	331325	-246	-41	030	332.90	104.75	0.59	0.20	11.88
GERSD25022	DD	6599781	331325	-246	-41	030	332.90	299.50	0.13	0.06	101.60
GERSD25023	DD	6599781	331325	-246	-45	027	350.75	121.50	0.30	0.15	3.28
GERSD25024	DD	6599781	331325	-246	-35	025	323.50	283.05	0.25	0.08	18.11
GERSD25024	DD	6599781	331325	-246	-35	025	323.50	306.97	0.40	0.30	36.72

Page 13 of 48

Evolution Mining

Hole ID	Hole type	Easting MGA (m)	Northing MGA (m)	Elevation AHD (m)	Dip	Azimuth	Hole length (m)	From (m)	Downhole width (m)	Estimated true width (m)	Gold grade (g/t)
GERSD25025	DD	6599781	331325	-246	-38	020	349.51	127.30	0.98	0.40	3.40
GERSD25025	DD	6599781	331325	-246	-38	020	349.51	129.09	0.40	0.20	3.76
GERSD25025	DD	6599781	331325	-246	-38	020	349.51	327.03	0.20	0.11	121.70
GERT25012	DD	6599780	331328	-247	-68	043	380.30				NSI
GERT25013	DD	6599780	331328	-247	-53	038	342.10	331.25	1.24	0.70	4.18
GERT25013	DD	6599780	331328	-247	-53	038	342.10	334.00	1.00	0.50	5.54
GERT25014	DD	6599780	331327	-247	-55	034	363.00				NSI
GERT25015	DD	6599780	331328	-247	-59	038	355.47	268.78	0.25	0.12	7.91
GERT25016	DD	6599780	331327	-246	-50	032	342.10	226.60	0.40	0.23	3.22
GERT25016	DD	6599780	331327	-246	-50	032	342.10	321.83	0.10	0.06	39.75
GERT25016	DD	6599780	331327	-246	-50	032	342.10	323.00	0.54	0.25	12.33
GERT25016	DD	6599780	331327	-246	-50	032	342.10	334.36	0.64	0.31	3.02
GERT25017	DD	6599780	331327	-247	-53	029	365.00	26.89	0.29	0.20	7.00
GERT25018	DD	6599780	331327	-246	-58	029	380.00	184.00	1.00	0.50	9.90
GERT25019A	DD	6599780	331327	-246	-65	022	416.40				NSI
GERT25020	DD	6599780	331327	-247	-48	026	374.80	122.15	0.20	0.10	3.51
GERT25020	DD	6599780	331327	-247	-48	026	374.80	125.21	0.21	0.10	4.45
GERT25020	DD	6599780	331327	-247	-48	026	374.80	127.84	0.16	0.07	3.91
GERT25021	DD	6599792	331230	-245	-22	352	496.40				NSI
GERT25022	DD	6599791	331231	-245	-28	354	500.96	443.65	0.20	0.12	15.41
GERT25022	DD	6599791	331231	-245	-28	354	500.96	492.00	1.00	0.45	3.09
GERT25023	DD	6599791	331231	-244	-24	358	472.00	425.39	1.76	1.15	31.48
GERT25023	DD	6599791	331231	-244	-24	358	472.00	432.60	0.40	0.15	3.92
GERT25023	DD	6599791	331231	-244	-24	358	472.00	441.02	0.98	0.45	4.51
GERT25024	DD	6599792	331230	-244	-33	359	462.17	268.42	0.26	0.21	7.68
GERT25024	DD	6599792	331230	-244	-33	359	462.17	455.45	0.39	0.18	41.64
GERT25025	DD	6599791	331230	-244	-31	004	441.08	204.09	0.10	0.05	15.14
GERT25025	DD	6599791	331230	-244	-31	004	441.08	413.53	0.14	0.07	4.42

Page 14 of 48

Evolution Mining

Hole ID	Hole type	Easting MGA (m)	Northing MGA (m)	Elevation AHD (m)	Dip	Azimuth	Hole length (m)	From (m)	Downhole width (m)	Estimated true width (m)	Gold grade (g/t)
GERT25026	DD	6599791	331231	-245	-38	006	441.00	424.04	0.19	0.12	784.00
PJRT25001	DD	6600399	331381	-197	-32	033	438.00	391.61	1.29	0.97	6.86
PJRT25002	DD	6600399	331381	-197	-38	027	465.00	424.90	0.70	0.43	3.27
PJRT25003	DD	6600399	331381	-197	-43	034	495.11	369.30	3.35	2.25	8.54
PJRT25003	DD	6600399	331381	-197	-43	034	495.11	379.81	0.32	0.15	5.14
PJRT25003	DD	6600399	331381	-197	-43	034	495.11	382.55	0.45	0.15	9.31
PJRT25003	DD	6600399	331381	-197	-43	034	495.11	391.07	0.28	0.10	328.80
PJRT25004	DD	6600399	331381	-197	-36	041	451.08	262.55	0.60	0.38	6.23
PJRT25004	DD	6600399	331381	-197	-36	041	451.08	368.89	0.27	0.12	3.79
PJRT25004	DD	6600399	331381	-197	-36	041	451.08	372.68	0.24	0.12	6.19
PJRT25004	DD	6600399	331381	-197	-36	041	451.08	375.90	0.27	0.10	7.17
PJRT25004	DD	6600399	331381	-197	-36	041	451.08	403.54	2.47	1.73	15.84
PJRT25005	DD	6600420	331369	-197	-27	010	451.20	245.60	1.36	0.45	11.43
PJRT25005	DD	6600420	331369	-197	-27	010	451.20	270.35	0.75	0.42	12.56
PJRT25005	DD	6600420	331369	-197	-27	010	451.20	436.60	1.40	0.75	3.29
PJRT25006	DD	6600421	331369	-197	-38	017	473.69	239.65	0.58	0.40	16.93
PJRT25006	DD	6600421	331369	-197	-38	017	473.69	440.32	0.61	0.55	6.84
PJRT25006	DD	6600421	331369	-197	-38	017	473.69	446.00	1.07	0.35	3.45
PJRT25007	DD	6600420	331369	-197	-44	012	503.61	251.16	0.79	0.35	11.06
PJRT25007	DD	6600420	331369	-197	-44	012	503.61	253.61	0.51	0.30	4.76
PJRT25007	DD	6600420	331369	-197	-44	012	503.61	257.70	0.60	0.32	8.47
PJRT25007	DD	6600420	331369	-197	-44	012	503.61	475.67	1.17	0.55	3.77
PJRT25008	DD	6600420	331369	-197	-45	024	500.60	369.48	0.42	0.30	10.57
PJRT25008	DD	6600420	331369	-197	-45	024	500.60	460.00	1.00	0.62	48.09
PJRT25008	DD	6600420	331369	-197	-45	024	500.60	464.75	0.65	0.30	10.23
PJRT25009	DD	6600351	331407	-198	-42	038	504.58	461.06	8.70	7.80	27.51
PJRT25010	DD	6600351	331407	-198	-35	046	471.20	434.52	0.27	0.18	10.22
PJRT25010	DD	6600351	331407	-198	-35	046	471.20	435.80	6.24	4.56	23.62

Page 15 of 48

Evolution Mining

Hole ID	Hole type	Easting MGA (m)	Northing MGA (m)	Elevation AHD (m)	Dip	Azimuth	Hole length (m)	From (m)	Downhole width (m)	Estimated true width (m)	Gold grade (g/t)
PJRT25011	DD	6600351	331407	-198	-42	050	526.12	315.58	0.52	0.25	7.10
PJRT25011	DD	6600351	331407	-198	-42	050	526.12	441.00	0.84	0.50	3.31
PJRT25011	DD	6600351	331407	-198	-42	050	526.12	450.36	0.51	0.25	7.71
PJRT25011	DD	6600351	331407	-198	-42	050	526.12	465.43	0.57	0.26	3.03
PJRT25011	DD	6600351	331407	-198	-42	050	526.12	468.55	0.25	0.15	5.72
PJRT25011	DD	6600351	331407	-198	-42	050	526.12	472.30	1.00	0.25	4.13
PJRT25011	DD	6600351	331407	-198	-42	050	526.12	482.42	0.58	0.30	30.99
PJRT25013	DD	6600351	331407	-198	-29	060	504.00	192.44	0.14	0.08	10.24
PJRT25013	DD	6600351	331407	-198	-29	060	504.00	318.20	0.25	0.11	47.64
PJRT25013	DD	6600351	331407	-198	-29	060	504.00	464.18	0.31	0.24	8.24
PJRT25013	DD	6600351	331407	-198	-29	060	504.00	466.40	0.36	0.27	5.15
SOLGC25010	DD	6599875	331486	-238	-56	063	102.11	71.05	0.79	0.35	9.55
SOLGC25010	DD	6599875	331486	-238	-56	063	102.11	85.00	0.51	0.29	9.26
SOLGC25012	DD	6599875	331486	-238	-37	078	93.13	71.80	0.29	0.12	34.15
SOLGC25012	DD	6599875	331486	-238	-37	078	93.13	80.98	1.02	0.50	4.11
SOLGC25015	DD	6599940	331385	-247	-1	033	152.82	133.10	0.25	0.12	62.12
SOLGC25016	DD	6599940	331385	-247	-9	035	140.00	122.70	0.29	0.12	614.00
SOLGC25017	DD	6599940	331385	-247	-14	033	127.00	116.06	0.17	0.09	26.20
SOLGC25018	DD	6599940	331385	-247	-3	026	142.04	129.29	0.35	0.19	79.42
SOLGC25019	DD	6599940	331385	-247	-7	029	133.00	122.62	0.43	0.24	117.05
SOLGC25020	DD	6599940	331385	-247	-8	020	132.00	121.46	0.32	0.19	159.25
SOLGC25021	DD	6599940	331385	-247	-13	017	126.00	115.85	0.22	0.15	55.20
SOLGC25022	DD	6599940	331385	-247	-1	012	147.00	135.60	0.45	0.22	36.65
SOLGC25023	DD	6599940	331385	-247	-6	013	137.00	125.35	0.27	0.14	87.45
SOLGC25024	DD	6599940	331385	-247	-9	012	131.00	121.19	0.30	0.15	77.18
SOLGC25025	DD	6599940	331385	-247	-5	008	141.04	128.37	0.20	0.10	84.21
SOLGC25026	DD	6599941	331385	-247	-14	009	126.13	115.20	0.30	0.15	64.72
SOLGC25027	DD	6599941	331385	-247	-6	002	144.05	133.94	0.23	0.12	125.70

Page 16 of 48

Evolution Mining

Hole ID	Hole type	Easting MGA (m)	Northing MGA (m)	Elevation AHD (m)	Dip	Azimuth	Hole length (m)	From (m)	Downhole width (m)	Estimated true width (m)	Gold grade (g/t)
SOLGC25028	DD	6599941	331385	-247	-14	002	129.00	119.14	0.20	0.11	109.05
SOLGC25029	DD	6599942	331382	-247	-10	001	133.11	125.47	0.18	0.10	58.96
SOLGC25030	DD	6599942	331382	-247	-3	357	150.00	139.93	0.24	0.15	258.90
SOLGC25031	DD	6599942	331382	-247	-5	345	156.07	146.63	0.17	0.10	91.24
SOLGC25032	DD	6599942	331382	-247	-11	348	141.13	123.00	0.95	0.50	6.07
SOLGC25032	DD	6599942	331382	-247	-11	348	141.13	130.67	0.24	0.17	128.40
SOLGC25033	DD	6599942	331382	-247	-15	351	133.07	122.73	0.28	0.15	25.59
SOLGC25034	DD	6599942	331382	-247	-15	344	137.05	128.10	0.30	0.15	40.80
SOLGC25035	DD	6599940	331385	-247	-18	037	122.19	112.07	0.20	0.11	170.40
SOLGC25036	DD	6599940	331385	-247	-25	034	116.10				NSI
SOLGC25037	DD	6599940	331385	-247	-21	027	116.13	106.98	0.79	0.35	23.44
SOLGC25038	DD	6599940	331385	-247	-18	020	119.18	110.22	0.25	0.12	84.98
SOLGC25039	DD	6599942	331382	-247	-18	007	119.04	111.14	0.22	0.11	52.67
SOLGC25040	DD	6599942	331381	-247	-18	359	123.00				NSI
SOLRSD25001	DD	6599780	331332	-246	-26	020	271.50				NSI
SOLRSD25002	DD	6599780	331332	-246	-29	014	268.14	126.42	0.23	0.12	17.65
SOLRSD25003	DD	6599781	331325	-246	-24	007	278.77				NSI
SOLRSD25004	DD	6599781	331325	-246	-30	008	268.12				NSI
SOLRSD25005	DD	6599785	331291	-245	-21	009	284.51	259.31	0.18	0.10	37.59
SOLRSD25006	DD	6599785	331291	-245	-21	004	286.50				NSI
SOLRSD25007	DD	6599785	331291	-245	-26	005	281.76				NSI
SOLRSD25008	DD	6599791	331245	-244	-17	014	309.10	271.64	0.16	0.10	10.07
SOLRSD25009	DD	6599791	331245	-244	-15	008	303.11	36.99	0.37	0.15	3.51
SOLRSD25010	DD	6599790	331245	-244	-25	010	276.93	197.00	0.96	0.12	114.10
SOLRSD25010	DD	6599790	331245	-244	-25	010	276.93	215.00	1.00	0.15	3.14
SOLRSD25011	DD	6599790	331245	-244	-21	009	292.00	232.09	0.86	0.40	4.32
SOLRSD25011	DD	6599790	331245	-244	-21	009	292.00	234.00	0.60	0.30	4.40
SOLRSD25012	DD	6599791	331245	-244	-23	004	303.96				NSI

Page 17 of 48

Evolution Mining

Hole ID	Hole type	Easting MGA (m)	Northing MGA (m)	Elevation AHD (m)	Dip	Azimuth	Hole length (m)	From (m)	Downhole width (m)	Estimated true width (m)	Gold grade (g/t)
SOLRSD25013	DD	6599791	331231	-244	-14	006	302.30	246.15	0.75	0.35	3.50
SOLRSD25014	DD	6599792	331231	-244	-18	007	302.98				NSI
SOLRSD25015	DD	6599791	331230	-244	-10	002	317.03	286.46	0.11	0.07	144.90
SOLRSD25015	DD	6599791	331230	-244	-10	002	317.03	296.80	0.20	0.10	4.16
SOLRSD25016	DD	6599792	331230	-244	-15	001	307.00	247.61	0.41	0.20	3.54
SOLRSD25017	DD	6599791	331230	-244	-20	002	292.11				NSI
STZRSD25010	DD	6600630	331475	-246	-20	237	300.05	270.69	0.46	0.46	39.72
STZRSD25011	DD	6600630	331475	-246	-23	232	314.60				NSI
STZRSD25013	DD	6600630	331475	-246	-15	225	302.11	251.10	0.40	0.20	4.18
STZRSD25013	DD	6600630	331475	-246	-15	225	302.11	269.44	0.18	0.17	75.52
STZRSD25014	DD	6600631	331475	-246	-27	221	349.08				NSI
STZRSD25015	DD	6600630	331475	-246	-12	210	324.00	295.20	0.46	0.39	22.24
STZRSD25015	DD	6600630	331475	-246	-12	210	324.00	302.33	0.26	0.12	10.82
STZRSD25016	DD	6600630	331475	-246	-20	212	372.32	320.85	0.50	0.45	70.95
STZRSD25016	DD	6600630	331475	-246	-20	212	372.32	329.06	0.20	0.10	11.59
STZRSD25017	DD	6600631	331475	-246	-28	217	366.10	329.20	0.80	0.74	7.46
STZRSD25018	DD	6600630	331475	-247	-28	213	387.13	340.98	1.04	0.72	3.69

Page 18 of 48

Evolution Mining

Mungari, Western Australia

JORC Table 1

Mungari – Arctic Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

Mungari – Arctic Section 1 Sampling Techniques and Data
Criteria Commentary
Sampling techniques • Sampling was completed using a combination of reverse circulation (RC), reverse circulation with diamond drill tails (RCD) and diamond drill core (DD).
• DD drilling is sampled within geological boundaries with a minimum (0.3m) and maximum (1.0m) sample length. RC sampling is typically 1.0m sample lengths throughout the drill hole.
• DD drill core was nominated for either half core or full core sampling. Core designated for half core was cut in half using an automated core saw. The mass of material collected depends on the drill hole diameter and sampling interval selected. Core designated for full core was broken with a rock hammer if sample segments were too large to fit into sample bags.
• All samples were delivered to a commercial laboratory where they were assayed via photon analyses. Samples were dried, crushed to 3mm for photon, at this point large samples may be split using a rotary splitter, pulverisation to 90% passing 75µm for fire assays. ~500g is selected for photon analyses.
Drilling techniques • Both RC and DD techniques are used to drill the Kundana deposits. • Surface DD holes are completed using HQ3 (63.5mm diameter) drill size. • Core is orientated using the Boart Longyear Trucore Core Orientation system. • RC Drilling was completed using a 5.75” drill bit, downsized to 5.25” at depth. • In many cases, RC pre-collars were drilled followed by diamond tails. Pre-collar depth was determined in the drill design phase depending on the target been drilled, depth of weathering and production constraints.
Drill sample recovery • For DD drilling, any core loss is recorded on the core blocks by the driller. This is then captured by the logging geologist and entered as interval into the hole log.
• Recovery data is not recorded for each RC interval although some comments may be noted if recovery issues do arise. Discussions are held between geology and drill contractors when sample recovery is not satisfactory about how it can be rectified.
• Recovery was within tolerance for diamond core and RC drilling and no relationship between grade and recovery was observed. Average sample recovery across the Kundana camp is at 99%.
Logging • All DD and RC drill intervals are logged for lithology, veining, alteration, mineralisation and structural. Structural measurements of specific features are also taken through oriented zones in diamond drill holes.
• Logging is entered in acQuire (Kundana database) using a series of drop-down menus which contain the appropriate codes for description of the rock.
• All core logging is qualitative with mineralised zones assayed for quantitative measurements. Every core tray is photographed wet. • For all drillholes, the entire length of the hole was logged.

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	Mungari – Arctic Section 1 Sampling Techniques and Data
Criteria	Commentary
*Sub-sampling techniques* *and sample preparation*	• DD drill core was nominated for either half core or full core sampling. Core designated for half core was cut in half using an automated core saw. The mass of material collected will depend on the drill hole diameter and sampling interval selected. Core designated for full core was broken with a rock hammer if sample segments were too large to fit into sample bags. • Sample preparation commenced with sorting, checking, and drying at less than 110°C to prevent sulphide breakdown. Samples are jaw crushed to a nominal -6mm particle size. If the sample is greater than 3kg, a Boyd crusher with rotary splitter is used to reduce the sample size to less than 3kg (typically 1.5kg) at a nominal <3mm particle size. • For photon analyses, samples are cursed to 95% passing 3mm. 500g of sample is then placed into suitably designed jars and analyses through the photon machine. • The sample preparation is considered appropriate for the mineralisation style. • Procedures are utilised to guide the selection of sample material in the field. Standard procedures are used for all processes within the laboratory. • The samples are crushed to >90% passing 3mm using a Smart Boyd Crusher that also splits off 500g into a jar for photon analysis • Umpire sampling selection is conducted on all the Kundana core samples as an entire batch. A target minimum of 3% of the samples processed each monthare selected to be sent to a check laboratory. The sample sizes are considered appropriateforthematerialbeensampled.
*Quality of assay data and* *laboratory tests*	• ALS Kalgoorlie has provided Evolution Mungari with Photon analyses since November 2024. The process utilises sample sizes up to 500g, which is considered beneficial for coarse gold systems. • Photon assay is considered a total analysis technique because it measures the entire sample rather than just a portion. This reduces sampling errors and provides a more accurate representation of the sample's composition. • No geophysical tools were used to determine any element concentrations. • Certified reference materials (CRMs) are inserted into the sample sequence at a rate of 1 per 20 samples to ensure correct calibration. Any values outside of 3 standard deviations are re-assayed with a new CRM. • Blanks are inserted into the sample sequence at a nominal rate of 1 per 20 samples. The insertion points are selected at random, except where high grade mineralisation is expected. In these cases, a blank is inserted after the high-grade sample to test for contamination. Results greater than 0.2g/t are investigated, and re-assayed if appropriate. New pulps are prepared if anomalous results cannot be resolved. • In DD, barren flushes are regularly inserted after anticipated high gold grades at the pulverising stage. • No field duplicates were submitted for diamond core. • Pulp duplicates are requested after any ore zone. These are indicated on the sample sheet and submission sheet. • When visible gold is observed in core or RC, a quartz flush is requested after the sample. • Laboratory performance was monitored using the results from the quality assurance (QA) samples mentioned above. This was supplemented by the internal QA samples used by the laboratories, which included pulp duplicates and CRMs. Umpire samples are also sent for analyses and results reviewed for any bias. • The QAstudiesindicate that accuracy and precisionarewithin Evolution's acceptedlimits.
*Verification of sampling* *and assaying*	• All significant intersections are verified by another Evolution Senior Geologist during the drill hole validation process and later by a Competent Person. Similar validations were expected to have been completed by prior explorers before reporting of drill results. • No twinned holes were drilled for this data set. Re-drilling of some of the drillholes has occurred due to issues downhole (e.g., bogged rods). These have been named in the database with an ‘A’ suffix after the hole ID. Re-drilled holes are sampled whilst the original drillhole is logged but not sampled. • Geological logging and sampling are directly recorded into the Kundana database. Assay files are received in .csv, .pdf and .sif formats. The csv file formats are automatically loaded into the database using an appropriate importer object. Assays are then processed through a form in the database for quality assurance/quality control (QAQC) checks. Non-editable electronic copies of these are stored. • No adjustments aremade to this assay data. Ifthere areissueswiththeresultsfilesreceived, amendedversions arerequestedfromthelab.

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	Mungari – Arctic Section 1 Sampling Techniques and Data
Criteria	Commentary
*Location of data points*	• Planned holes are marked up by the mine survey department using a total station survey instrument in mine grid (Kundana 10). The actual hole position is then located by the mine survey department once drilling is completed. • Holes are lined up on the collar point using the DHS Minnovare Azimuth Aligner. Planned azimuths and dips of the holes are downloaded to the aligner which is then placed on the rod string to align the hole for drilling. • During drilling, single shot surveys are conducted every 30m to track the deviation of the hole and to ensure it stays close to design. This is performed using the Devishot or multishot gyro survey tool which measures the gravitational dip and magnetic azimuth. Results are uploaded from the software into a .csv format which is then imported into the Kundana database. At the completion of the hole, a continuous survey is completed taking measurements every 3m to ensure accuracy of the hole. The is relative change survey which is then referenced back to the Azimuth aligner to provide an accurate, continuous nonmagnetic survey. This is also converted to .csv format and imported into the Kundana database. • Collar coordinates are recorded in mine grid (Kundana 10) and transformed into MGA2020. • Quality topographic control has been achieved through Lidar data and survey pickups of holes over the last 15 years with the open pit and surrounding ground disturbed areas during openpitmining accurately survey controlled.
*Data spacing and* *distribution*	• Drillhole spacing varies across the deposit. For Resource Targeting drilling spacing was typically a minimum of 80m x 80m. This allowed for infill drilling at 40m x 40m spacing known as Resource Definition. Grade control drilling was drilled on a level-by-level basis with drill spacing at 20m x 20m. This include hanging wall and footwall probing where the ore body is greater than development drive width. • The data spacing and distribution is considered sufficient to support the Resource and Reserve estimates. • No sample compositinghas been applied.
*Orientation of data in* *relation to geological* *structure*	• Majority of the mineralisation in the Kundana area dips steeply (80°) to the WSW. Diamond drilling is designed to target the orebodies perpendicular to this orientation to allow for an ideal intersection angle. 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. • Drillholes with low intersection angles are excluded from resource estimation where more suitable data is available. • No sampling bias is considered to have been introduced by the drilling orientation. Where drillholes have been particularly oblique, they have been flagged as unsuitable for resource estimation.
*Sample security*	• Prior to laboratory submission, samples are stored by Evolution in a secure yard. Once submitted to the laboratories they are stored in a secure fenced compound, tracked throughtheirchainofcustody andvia audit trails.
*Audits or reviews*	• Laboratory audits are routinely undertaken (once per quarter) of the data and sampling practices and are completed by Evolution. The audit findings are relayed to the laboratory for rectification.

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Mungari – Arctic Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section)

	Mungari – Arctic Section 2 Reporting of Exploration Results
Criteria	Commentary
*Mineral tenement and land* *tenure status*	• All holes mentioned in this report are located within the M16/87, M16/72 and M16/97 tenements, which are owned by Kundana Gold Pty Ltd a wholly owned subsidiary of Evolution. The leases are subject to the WA state government 2.5% NSR royalty. There are no third-party royalty agreements applicable to this tenement. • M16/87, M16/72 and M16/97 are wholly within the Marlinyu Ghoorlie Registered Native Title Claim (WC2017/007) This claim is currently before the Tribunal for Determination. • No known impediments exist to obtain a license to operate in this area,and the tenements are ingood standing.
*Exploration done by other* *parties*	• Early exploration was completed as early as 1970 but mostly in the 1980s and 1990s by Kalbara Mining NL and the White Flag Joint Venture with the development and operation of the North Pit (present day Arctic open pit). • Exploration continued over the camp through various companies including Pancontinental, Goldfields Exploration, Aurion Gold, Placer Dome, Barrick Gold, and Northern Star Resources during the mid-1990’s to 2021. Barrick undertook some further mining at Arctic open pit in 2011-12. • Evolution Mining purchasedKundanafrom NorthernStar Resourcesin 2021.
*Geology*	• Kundana is situated within the Norseman-Wiluna Greenstone Belt, in an area dominated by the Zuleika shear zone, which separates the Coolgardie domain from the Ora Banda domain. • K2-style mineralisation consists of narrow vein deposits hosted by shear zones located along steeply dipping overturned lithological contacts. The K2 structure ispresent alongthe contact between a black shale unit(CentenaryShale)and intermediate volcaniclastics(Black FlagGroup).
*Drill hole Information*	• Referto the drill holeinformationtableintheAppendixofthisreport.
*Data aggregation methods*	• All reported assay results have been length weighted to provide an intersection width as ### metres and ### grade (g/t Au). Assay results are reported to a 3.0g/t Au lower cut, A maximum of 1m of internal dilution has been included in the calculation of these widths. No top-cutting is applied when reporting intersection results. • Where an intersection incorporates short lengths of high grade results these intersections will be reported in addition to the aggregate value (i.e., reported separately, forming part of the aggregated value). These will be reported as an example, as ### metres and ### grade (g/t Au), where appropriate. • Nometalequivalentvalues are usedfor reporting exploration results.
*Relationship between* *mineralisation widths and* *intercept lengths*	• Estimate true widths have been calculated for intersections of the known ore zones based on existing knowledge of the nature of these structures. • Both the downhole width and true width have been clearly specified when used.
*Diagrams*	• Relevant plan viewshowing the spatial locationoftheArctic drillingis outlined below.

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	Mungari – Arctic Section 2 Reporting of Exploration Results
Criteria	Commentary
	A longsection of Arctic alongthe Strzelecki line of lode,with recent drillingand significant intercepts:

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Mungari – Arctic Section 2 Reporting of Exploration Results
Criteria Commentary
Balanced reporting • No other material exploration data has been collected for this area.
Other substantive • Drilling will continue in various parts of the mine with the intention of extending areas of known mineralisation. Areas of focus will be to extend the
exploration data Arctic Strzelecki structure both down dip and along strike. Drilling will also focus on infilling areas of the resource attempting to improve geological confidence.
Further work • Further interpretation and an updated resource calculation will be conducted before any continuation of drilling activities to ascertain the ideal zones for targeting.

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JORC Table 1

Mungari – Genesis and Pope John Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

	Mungari – Genesis Section 1 Sampling Techniques and Data
Criteria	Commentary
*Sampling techniques*	• Sampling was completed using diamond drill core (DD). • Diamond core was transferred to core trays for logging and sampling. Half core or full core samples were nominated by the geologist from NQ diamond core, with a minimum sample width of 10cm and a maximum width of 100cm. • All samples were delivered to a commercial laboratory where they were assayed via photon analyses. Samples were dried, crushed to 3mm for photon, at this point large samples may be split using a rotary splitter, pulverisation to 90% passing 75 µm for fire assays. ~500g is selected for photonanalyses.
*Drilling techniques*	• For underground drilling, NQ2 (50.6mm) diameter core was used. • Corewas orientated using anelectronic‘back-end tool’core orientationsystem.
*Drill sample recovery*	• All diamond core was orientated and measured during processing and the recovery recorded into the drill-hole database. The core was reconstructed into continuous runs on a cradle for orientation marking. Hole depths were checked against the driller’s core blocks. • Inconsistencies between the logging and the driller’s core depth measurement blocks are investigated. Core recovery has been acceptable. • 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 site Geologists. Any issues are communicated back to the Drilling Contractor • Measures taken to maximise sample recovery include instructions to Drilling Contractor to reduce penetration rates or reduce the coring run length in less competent ground. • Analysis of drill sample bias and loss/gain was undertaken with the Overall Mine Reconciliationperformance where available.
*Logging*	• All diamond core is logged for regolith, lithology, veining, alteration, mineralisation and structure. Structural measurements of specific features are taken through oriented zones. All logging is quantitative where possible and qualitative elsewhere. A photograph is taken of every core tray (wet)
*Sub-sampling techniques* *and sample preparation*	• DD drill core was nominated for either half core or full core sampling. Core designated for half core was cut in half using an automated core saw. The mass of material collected will depend on the drill hole diameter and sampling interval selected. Core designated for full core was broken with a rock hammer if sample segments were too large to fit into sample bags. • Sample preparation commenced with sorting, checking, and drying at less than 110°C to prevent sulphide breakdown. Samples are jaw crushed to a nominal -6 mm particle size. If the sample is greater than 3kg, a Boyd crusher with rotary splitter is used to reduce the sample size to less than 3kg (typically 1.5kg) at a nominal <3mm particle size. • For photon analyses, samples are cursed to 95% passing 3mm. 500g of sample is then placed into suitably designed jars and analyses through the photon machine. • The sample preparation is considered appropriate for the mineralisation style. • Procedures are utilised to guide the selection of sample material in the field. Standard procedures are used for all processes within the laboratory. • The samples are crushed to >90% passing 3mm using a Smart Boyd Crusher that also splits off 500g into a jar for photon analysis • Umpire sampling selection is conducted on all the Kundana core samples as an entire batch. A target minimum of 3% of the samples processed each monthare selected to be sent to a check laboratory. The sample sizes are considered appropriateforthematerialbeensampled.

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	Mungari – Genesis Section 1 Sampling Techniques and Data
Criteria	Commentary
*Quality of assay data and* *laboratory tests*	• ALS Kalgoorlie has provided Evolution Mungari with Photon analyses since November 2024. The process utilises sample sizes (up to 500g), which is considered beneficial for coarse gold systems. • Photon Assay is considered a total analysis technique because it measures the entire sample rather than just a portion. This reduces sampling errors and provides a more accurate representation of the sample's composition. • No geophysical tools were used to determine any element concentrations. • Certified reference materials (CRMs) are inserted into the sample sequence at a rate of 1 per 20 samples to ensure correct calibration. Any values outside of 3 standard deviations are re-assayed with a new CRM. • Blanks are inserted into the sample sequence at a nominal rate of 1 per 20 samples. The insertion points are selected at random, except where high grade mineralisation is expected. In these cases, a blank is inserted after the high-grade sample to test for contamination. Results greater than 0.2 g/t are investigated, and re-assayed if appropriate. New pulps are prepared if anomalous results cannot be resolved. • In DD, Barren flushes are regularly inserted after anticipated high gold grades at the pulverising stage. • No field duplicates were submitted for diamond core. • Pulp duplicates are requested after any ore zone. These are indicated on the sample sheet and submission sheet. • When visible gold is observed in core or RC, a quartz flush is requested after the sample. • Laboratory performance was monitored using the results from the QA samples mentioned above. This was supplemented by the internal QA samples used by the laboratories, which included pulp duplicates and CRMs. Umpire samples are also sent for analyses and results reviewed for any bias.
*Verification of sampling* *and assaying*	• All significant intersections are verified by the Senior Geologist during the drill hole validation process. • 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 at the technical mining offices. • No adjustments orcalibrationshave been made to thefinalassay datareported by thelaboratory.
*Location of data points*	• All collars for underground drilling are in the local mine grid by a mine surveyor using a laser theodolite. • Mine surveyors update control points underground as mine development continues. All drillhole collars are surveyed with locating two control points asrequiredforprecisionof instrumentation.
*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 compositing was not applied due to the often-narrow mineralised zones. • 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.

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	Mungari – Genesis Section 1 Sampling Techniques and Data
Criteria	Commentary
*Orientation of data in* *relation to geological* *structure*	• All drilling both underground and surface is oriented as close as practical to perpendicular to the target structures. The orientation of all in-mine target structures is understood 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 laboratory submission, samples are stored by Evolution Mining in a secure yard. Once submitted to the laboratories they are stored in a securefenced compound, tracked throughtheirchainofcustody andvia audit trails.
*Audits or reviews*	• Laboratory audits are routinely undertaken (once per quarter) of the data and sampling practices and are completed by EVN. The Audit findings are relayed to the Laboratory for rectification.

Mungari – Genesis and Pope John Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section)

	Mungari – Genesis Section 2 Reporting of Exploration Results
Criteria	Commentary
*Mineral tenement and land* *tenure status*	• Diamond holes mentioned in this report are located within Mining Lease M16/157 and are held by Kundana Gold Pty Ltd, a wholly owned subsidiary of Evolution Mining. The leases are subject to the WA state government 2.5% NSR royalty. There are no third-party royalty agreements applicable to this tenement. • M16/157 is wholly within the Marlinyu Ghoorlie Registered Native Title Claim (WC2017/007) This claim is currently before the Tribunal for Determination. • Noknown impediments exist to obtainalicense to operateinthis area, and the tenements areingood standing.
*Exploration done by other* *parties*	• Underground drilling on the Kundana mines extends the mineralised trends from older drilling including that of previous operators of those mines includingBarrickGold,Placer DomeAsia-Pacific,AurionGold, GoldfieldsLimited,NorthernStar Resources and otherpredecessors.
*Geology*	• The Kundana camp is situated within the Norseman-Wiluna Greenstone Belt, in an area dominated by the Zuleika Shear Zone, which separates the Coolgardie domain from the Ora Banda domain. The Zuleika Shear Zone in the Kundana area comprises multiple anastomosing shears the most important of which are the K2, the K2A and Strzelecki Shears. • Xmas and Xmas HW (Genesis) mineralisation is hosted on the Strzelecki Structure. Strzelecki mineralisation consists of very narrow, very high- grade mineralisation on a laminated vein hosted in the camp-scale Strzelecki Shear which abuts a differentiated mafic intrusive, the Powder Sill Gabbro against intermediate volcanoclastic rocks (Black Flag Group). A thin ‘skin’ of volcanogenic lithic siltstone-sandstone lies between the gabbro and the Strzelecki shear. Being bound by an intrusive contact on one side and a sheared contact on the other, the thickness of the sedimentary package is highlyvariable from absent to about fortymetres true width.
*Drill hole Information*	• Referto the drill holeinformationtableintheAppendixofthisreport.
*Data aggregation methods*	• All reported assay results have been length weighted to provide an intersection width as ### metres and ### grade (g/t Au). Assay results are reported to a 3.0g/t Au lower cut, A maximum of 1m of internal dilution has been included in the calculation of these widths. No top-cutting is appliedwhen reportingintersection results.

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Mungari – Genesis Section 2 Reporting of Exploration Results

Criteria

==> picture [135 x 43] intentionally omitted <==

Relationship between mineralisation widths and intercept lengths

Commentary

Where an intersection incorporates short lengths of high grade results these intersections will be reported in addition to the aggregate value (i.e., reported separately, forming part of the aggregated value). These will be reported as an example, as ### metres and ### grade (g/t Au), where appropriate.
No metal equivalent values are used for reporting exploration results.
The orientation of target structures is understood for all in-mine exploration targets and estimated true widths can be calculated and are reported accordingly.
Both the downhole width and true width have been clearly specified when used.
The assay results are reported as down hole intervals with an estimate of true width provided in Appendix.

Diagrams

Relevant long sections and plan view showing the spatial location of the drilling results is outlined below:

==> picture [607 x 175] intentionally omitted <==

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==> picture [753 x 254] intentionally omitted <==

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

Mungari – Genesis Section 2 Reporting of Exploration Results
Criteria Commentary
A long section of the Genesis and Barkers corridor, with recent drilling and significant intercepts:
----- End of picture text -----

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Mungari – Genesis Section 2 Reporting of Exploration Results Criteria Commentary A long section of the Pope John, with recent drilling and significant intercepts:

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	Mungari – Genesis Section 2 Reporting of Exploration Results
Criteria	Commentary

*Balanced reporting*	• All ExplorationandResourceDefinition resultshave been reportedinthe drill holeinformationsummary ofthisreport.
*Other substantive* *exploration data*	• No other material exploration data has been collected for this drill program.
*Further work*	• Further work includes updating the geological model, for the drilling results received and updating the resource calculation. An economic evaluation willbe completed utilising aMine Shape Optimiser function.

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Appendix B: JORC Code 2012 Assessment and Reporting Criteria

Cowal – E41 drill hole information summary

Intercepts reported below are based on assay intervals exceeding 10 Au gram metres. Gram metres are calculated by the following equation. Estimated true width (m) x gold grade (g/t).

Hole ID	Hole type	Easting MGA (m)	Northing MGA (m)	Elevation AHD (m)	Dip	Azimuth	Hole length (m)	From (m)	Downhole width (m)	Estimated true width (m)	Gold grade (g/t)
E41D2947	DD	537841	6276012	209	-60	326	684.02	212	35	31.5	0.54
							and	254	28	25.2	0.43
							and	362	32	28.8	0.76
							including	366	3	3	3.8
E41D2948	DD	537835	6276012	209	-57	311	529.72	313	9	7.2	1.56
E41D2949	DD	537953	6276124	208.3	-62	325	745.05	433	4	2.4	6.53
							including	434	1	0.7	17.6
							and	491	23	16.1	0.71
							and	549	17	11.9	1.33
E41D2950	DD	537582	6276075	211	-60	12	609.82	338	28	22.4	0.67
							and	474	3	2.4	8.74
							including	474	1.15	0.8	21.52
E41D2951	DD	537612	6276274	210	-59	23	968.1	628	2	1.4	9.71

E41D2952	DD	537551	6276457	210	-55	50	971.83	492	1	0.7	49.1
E41D2953	DD	537754	6276505	209	-63	340	542.97	336	7	5.6	1.8
E41D2954	DD
		537806	6276562	209	-61	342	353.74	no significant itt
								nerceps
E41D2955	DD	537803	6276569	209	-55	21	793.21	68	19	15.2	0.95
							and	152	8	6.4	10.56
							and	229	15	12	1.0
							and	360.9	3.1	2.17	8.91
							and	373.07	22.93	16.05	0.86
							and	411	3	2.1	6.01
							and	455	91	63.7	1.05

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Hole ID	Hole type	Easting MGA (m)	Northing MGA (m)	Elevation AHD (m)	Dip	Azimuth	Hole length (m)	From (m)	Downhole width (m)	Estimated true width (m)	Gold grade (g/t)
							including	501	29	17.4	2.22
							including	528	1	0.7	21.18
E41D2956	DD	537863	6276674	208	-57.5	338	465.16	58.55	30.72	21.5	1.05
							and	144	1	0.7	17.53
							and	316	1	0.7	19.86
							and	447	1.1	0.77	29.65
E41D2957	DD
		537787	6276837	208	-65	339	297.4	no significant itt
								nerceps
E41D2958	DD
		537792	6276905	208	-62	117	567.3	no significant itt
								nerceps
E41D2959	DD	537842	6276951	205	-62	35	599.68	276	6	4.2	2.51
E41D2960	DD	537718	6275934	209	-62	311	431.8	379	9	5.4	5.83
							including	386	1.15	0.8	34.51

Note: Reported intervals are provided in both downhole widths and true widths. Negative dip indicates downward direction. Azimuths are given with respect to MGA1994 Grid North. Elevation is presented as Australian Height Datum (m) - expressed as height above mean sea level.

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Cowal – Oban drill hole information summary

Intercepts reported below are based on assay intervals exceeding 10 Au gram metres. Gram metres are calculated by the following equation. Estimated true width (m) x gold grade (g/t).

Hole ID	Hole type	Easting MGA (m)	Northing MGA (m)	Elevation AHD (m)	Dip	Azimuth	Hole length (m)	From (m)	Downhole width (m)	Estimated true width (m)	Gold grade (g/t)
RDU0162	DD	538293	6278106	-199	11.5	227.5	340	248	1	0.7	28.47
RDU0195	DD	538293	6278106	-201	-24	218	707.6	no significant intercepts
RDU0218	DD	538245	6277959	-307	-14.5	257.79	550	504	5	3.5	34.12
							including	505	1	0.7	157
RDU0225	DD	538245	6277959	-307	-3	252.5	500.01	396	3	2.1	32.67
							including	397.3	0.7	0.49	129
							and	417	13	9.1	3.08
							and	456	20	14	8.22
							including	463	1	0.7	124
							and	480	5	3.5	3.2
RDU0295	DD	538247	6277951	-307	-18	207	551.7	219	3.22	2.25	17.09
							including	221.87	0.35	0.24	95.3
RDU0296A	DD	538245	6277959	-307	-11	229	599.46	215	6	3.6	2.8
							and	289	28	19.6	1.95
							including	289	1	0.7	28.2
							and	358	4	2.8	3.94
							and	449	2.1	1.68	6.22
							and	532	2.45	1.71	22.33
RDU0299	DD	538273	6277986	-198	-14	234	296.65	148	3	2.1	10.34

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Cowal, New South Wales

JORC Table 1

Cowal – Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

	Cowal – Section 1 Sampling Techniques and Data	Cowal – Section 1 Sampling Techniques and Data
Criteria	Explanation	Commentary
*Sampling techniques*	• Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as downhole gamma sondes, handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representation and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are material to the Public Report. • In cases where ‘industry standard’ work has been completed this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems, or unusual commodities/mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	• Samples in this report consist of conventional HQ3 and NQ3 sized diamond core for surface diamond drilling and NQ2 for underground diamond drilling. • Collar and down hole surveys were utilized to accurately record final drill hole locations. • All samples were logged prior to sampling. Diamond core was sampled to lithological, alteration, and mineralization related contacts. Industry standard sampling, assaying and QA/QC practices were applied to all holes. • Drill core in this release was cut for the entire length of the hole, and half core sent for assay and half retained at the Cowal core yard. • Sample preparation and assaying for results reported in this release was conducted by ALS Orange and SGS Orange. • Sample preparation at ALS Orange consisted of: • Drying in the oven at 90ºC, • Crushing in a jaw crusher to 6mm, • Fine crushing in a Boyd crusher to 2-3mm and 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 75µm; • A 50g fire assay charge taken with atomic absorption (AA) • The detection limit is 0.01g/t for Au. • Sample preparation at SGS Orange consisted of: • Drying in the oven at 105ºC, • Fine crushing in a Boyd crusher to 2-3mm and linear splitting to a 500g assay sub-sample, • A PhotonAssay analysis, which uses high‑energy X‑rays to excitegold nuclei in the sample. The resulting

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	Cowal – Section 1 Sampling Techniques and Data	Cowal – Section 1 Sampling Techniques and Data
Criteria	Explanation	Commentary
		characteristic gamma radiation emitted during nuclear decay is measured to determine gold concentration. Each sample is analysed over two measurement cycles with a radiation time of 15 seconds per cycle. • The detection limit is 0.03g/t for Au. The sampling and assaying methods employed are considered appropriate and are representative for the mineralisation style. In historic holes drilled prior to 2018, drill core was halved with a diamond saw in 1m intervals, irrespective of geological contacts. Since 2018, sampling to lithological contacts and mineralised contacts has been implemented and occasional full core intervals have been submitted for assay.
*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.).	• Surface diamond holes are drilled with an HQ3 collar through the oxide and completed through the primary zone to target using NQ3 size coring tools. • Underground diamond drilling for Discovery, Resource Definition and Grade control purposes is conducted using diamond drill rigs, the core is extracted using a standard tube assembly and core diameter is NQ2 in size. • Where ground conditions permit, every run of core is oriented using a REFLEX ACT III core orientation tool to mark bottom of hole. • Core has been oriented using a variety of techniques in line with standard industry practice of 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. • Diamond drilling core recovery is recorded each run by drillers and is entered in the database by the core logging personnel. • There are no significant core loss or sample recovery issues or biases. • During processing, core is reoriented and marked up at 1m intervals. Measurements of recovered core are made,and

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Cowal – Section 1 Sampling Techniques and Data Criteria Explanation

Cowal – Section 1 Sampling Techniques and Data	Cowal – Section 1 Sampling Techniques and Data	Cowal – Section 1 Sampling Techniques and Data

Criteria	Explanation	Commentary
		reconciled to the driller’s depth blocks, and if necessary, to rod counts.
*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 has been geologically logged to the level of detail required for a Mineral Resource estimation. Rock Quality Designation (RQD) measurements and geotechnical logging were taken from diamond core and recorded. • All logging is both qualitative and quantitative in nature. Data captured includes the following fields: • Structural readings, • Sample recovery, • Lithology, • Mineralogy, • Alteration, • Mineralisation style, • Vein density and type, • Oxidation state, and • Colour. • All holes are photographed wet. • Structural measurements are taken from core using a Kenometer instrument.
*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 in this report is cut with a diamond saw, with half core retained, and half sent for analysis. Core is cut to preserve the bottom of hole orientation line. • Core is nominally sampled at 1m intervals, with a maximum sample interval of 1.3m, and a minimum interval of 0.3m to avoid sampling across lithological, alteration, or mineralisation boundaries. • Historic holes drilled prior to 2018 were sampled to 1m intervals regardless of geological contacts. • If unexpected or anomalous assays are returned, an additional quarter core may be cut and sent for analysis.

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Cowal – Section 1 Sampling Techniques and Data Criteria Explanation

Commentary
• The sample sizes are considered appropriate for the orebody and style of mineralisation, and are in line with industry standards

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
		• The sample sizes are considered appropriate for the orebody and style of mineralisation, and are 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.		• SGS Orange acts as a Primary Laboratory, with SGS Perth being utilised during periods of high sample volume. For Discovery drilling, samples are sent to ALS Orange for preparation and analysis. ALS and SGS conduct independent Umpire checks. All labs operate to international standards and procedures and take part in the Geostatistical Round Robin inter-laboratory test surveys. • The Cowal QA/QC program comprises blanks, Certified Reference Material (CRM) that cover the expected grade range of mineralisation within the deposit, inter-laboratory duplicate checks, and grind checks. • Both the SGS and ALS laboratories analyse for Au utilising Fire Assay with an AAS detection (ALS) and PhotonAssay (SGS), and both labs provide their own QA/QC data which includes laboratory standards and duplicates. • Typical protocols for QAQC checks are summarised below, however depending on sample submission batch sizes overall rates may vary slightly: • For fire assays • 1:30 fine crush residue has an assay duplicate. • 1:20 pulp residue has an assay duplicate. • 1:20 wet screen grind checks • 1:35 site blanks are inserted into the dispatch ensuring at least 1 blank per fire • 1:20 CRMs submitted in the dispatch • The frequency of repeat assays is set at 1 in 30 samples. • For PhotonAssay

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	Cowal – Section 1 Sampling Techniques and Data	Cowal – Section 1 Sampling Techniques and Data
Criteria	Explanation	Commentary
		• 1:30 fine crush residue has an assay duplicate. • 1:35 site blanks • 1:20 CRMs submitted in the dispatch • 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 return assays outside the ±2SD acceptance criteria from the CRM mean 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 local basalt which has been determined to be below detection limit. Results are reviewed by the QA/QC Administrator upon receipt for non-compliances. Any assay value greater than 0.1g/t Au will result in a notice to the laboratory.
*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.	• Sample check assays are sent to Umpire laboratories at a ratio of 1:20 samples. • The quality control / quality assurance (QA/QC) process ensures the intercepts are representative for the E41 and Oban gold system. Half core and sample pulps are retained at Cowal Operations if further verification is required. • The twinning of holes is not a common practice undertaken at Cowal Operations. • 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 the results. A QA/QC report is completed for each drill hole and filed with the log, assay sheet, and other appropriate data.

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	Cowal – Section 1 Sampling Techniques and Data	Cowal – Section 1 Sampling Techniques and Data
Criteria	Explanation	Commentary
		• No adjustments or calibrations have been made to the final assay data reported by the laboratory.
*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 locations were surveyed using a Trimble total station survey tool. • Drill holes are surveyed during drilling via use of a Reflex gyroscopic tool (gyro) at 30m intervals. A full-hole continuous gyro survey is completed at end of hole. 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. • All drill holes at Cowal have been surveyed for easting, northing and reduced level. Recent data is collected and stored in CGO Mine grid. • Surface topographic control was generated from detailed aerial surveys. • Historic drill data included in this report features downhole survey data collected with an Electric Multi Shot (EMS) tool.
*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 drillhole in this report was designed to test for continuity along the interpreted strike of the targets E41 and Oban. It is not yet known whether this drilling is testing the full extent of the mineralised geological zones. • Due to the nature (exploration drilling) of the holes in this report, inferences on continuity and scale of mineralisation cannot be made at this time. • 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 1.3m and a minimum sample length of 0.3m to avoid sampling across geological boundaries.

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	Cowal – Section 1 Sampling Techniques and Data	Cowal – Section 1 Sampling Techniques and Data
Criteria	Explanation	Commentary
*Orientation of data in* *relation to geological* *structure*	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	• Diamond holes in this report were positioned to optimise intersection angles of the target mineralised area, based on available information. • Information from structural measurements will be used to further refine optimal drill orientations for this target area. • It is not considered that the angle between drill orientation and orientation of mineralised vein sets has introduced a sampling bias in the holes reported.
*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. Samples sent to SGS are collected by an SGS representative up to twice daily. Samples submitted to ALS are collected by a reputable courier and delivered to the lab in Orange. • Access to laboratories is restricted and movements of personnel and samples are tracked under supervision of the laboratory staff.
*Audits or reviews*	• The results of any audits or reviews of sampling techniques and data.	• QA/QC audits of the SGS and ALS laboratories are conducted on a quarterly basis. Any issues are noted and agreed remedial actions assigned and dated for completion. • Internal and external audits have been conducted in the past at Cowal. • 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. • Numerous internal audits of the database and systems have been undertaken bysitegeologists and companytechnicalgroups from

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	Cowal – Section 1 Sampling Techniques and Data	Cowal – Section 1 Sampling Techniques and Data
Criteria	Explanation	Commentary
		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.

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Cowal – Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section)

	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 38km north of West Wyalong and 350km west of Sydney. • Drilling at E41 documented in this presentation was undertaken on mining license ML1535 • ML1535 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 • All mining licenses are in good standing. • A New South Wales government royalty is applicable to Cowal, payable on the value of processed gold, and is calculated as follows: • Royalty = 4% of {Total Revenue – Processing Costs – (33% of site Administration costs) – Depreciation} • There are no other known significant factors or risks that may affect access, title, or the right or ability to perform work programs on the Lease.
*Exploration done by other* *parties*	• Acknowledgment and appraisal of exploration by other parties.	• The Cowal region has been subject to various exploration and drilling programs by GeoPeko, North Ltd., Rio Tinto Ltd., Homestake, and Barrick. • Construction of the Cowal Mine began in 2004, and first gold was poured in 2006.
*Geology*	• Deposit type, geological setting and style of mineralisation.	• The Cowal gold deposits (E41, E42, E46, GRE46) occur within the 40 km long by 15 km wide Ordovician Lake Cowal Volcanic Complex, east of the Gilmore Fault Zone within the eastern portion of the Lachlan Fold Belt. There is sparse outcrop across the Lake Cowal Volcanic Complex. Consequently, the regional geology has largely been defined by interpretation of regional aeromagnetic and exploration drilling programs.

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	Cowal - Section 2 Reporting of Exploration Results	Cowal - Section 2 Reporting of Exploration Results
Criteria	Explanation	Commentary
		• 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 gold deposits occurring within and marginal to a 230 m thick dioritic to gabbroic sill intruding trachyandesitic 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 (the Gold Corridor) with bounding faults, the Booberoi Fault onthewesternside and theReflector Fault onthe easternside.
*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. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	• Refer to 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 in this report include a minimum gold gram metre of 10. • No top-cut is applied to gold grades. • On occasion, intervals with significantly elevated gold grades may be reported individually. An example is provided below: • 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.	• Mineralisation within the drilling area lies within a corridor of large north-south trending structures, however there are strong controls oblique to this which affect vein orientation.

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	Cowal - Section 2 Reporting of Exploration Results	Cowal - Section 2 Reporting of Exploration Results
Criteria	Explanation	Commentary
	• 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’).	• Drillholes are typically oriented to optimize the angle of intercept with mineralised veins. • Where reliable estimated true widths (ETW) can be calculated, these have been included alongside down hole measurements.
*Diagrams*	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole.

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Simplified geology plan view looking down at 650mRL showing recent drill program and reported drill intercept between E41 (south) Oban underground (centre). Slice is 200m thick.

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Oblqiue section showing the location of existing and proposed pits, ‘As built’ underground development and mineral resources. Labels represent deposits. Section is looking at 260 degrees and down 20 degrees.

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	Cowal - Section 2 Reporting of Exploration Results	Cowal - Section 2 Reporting of Exploration Results
Criteria	Explanation	Commentary
*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 available results from the Discovery drill program have been reported in the Drill Hole Information Summary in the Appendix of this report. • Grades and widths of mineralisation are clearly outlined in the Drill hole information summary presented in the Appendix of this report. • These assay results have not been reported previously.
*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 exploration data is contained in this report.
*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 work at Cowal is ongoing, which will include testing for lateral and depth extensions to the mineralisation identified in the holes in this report.

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AI assistant

EVOLUTION MINING LIMITED — Capital/Financing Update 2026

64885_rns_2026-04-14_5c860ad0-8fe0-46ab-ac47-05ad6fc4e2fc.pdf

ASX Announcement

15 April 2026

EXPLORATION UPDATE – Promising Exploration Results from Mungari and Cowal, Progress on New Discovery Opportunities

Key highlights

Evolution Mining’s Vice President - Discovery, Glen Masterman said:

Mungari, Western Australia

Genesis

Arctic

Cowal, New South Wales

E41

Cowal underground - Oban

New discovery opportunities

North Queensland

Canada

British Columbia

October Gold JV, Ontario

Competent Person’s statement

Mungari exploration results

Cowal exploration results

Approval

Forward looking statements

For further information please contact:

Appendix A: JORC Code 2012 Assessment and Reporting Criteria

Mungari – Arctic drill hole information summary

Mungari – Genesis and Pope John drill hole information summary

Mungari, Western Australia

JORC Table 1

Mungari – Arctic Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

Mungari – Arctic Section 2 Reporting of Exploration Results

JORC Table 1

Mungari – Genesis and Pope John Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

Mungari – Genesis and Pope John Section 2 Reporting of Exploration Results

Mungari – Genesis Section 2 Reporting of Exploration Results

Criteria

Commentary

Diagrams

Appendix B: JORC Code 2012 Assessment and Reporting Criteria

Cowal – E41 drill hole information summary

Cowal – Oban drill hole information summary

Cowal, New South Wales

JORC Table 1

Cowal – Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

Cowal – Section 2 Reporting of Exploration Results

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EVOLUTION MINING LIMITED Capital/Financing Update 2026