Evolution Mining : March 2020 Quarterly Report

April 22, 2020 at 07:08 pm EDT

QUARTERLY REPORT - For the period ending 31 March 2020

HIGHLIGHTS

Increased cash flow

Mine operating cash flow increased 10% quarter-on-quarter (QoQ) to A$257.4 million
Net mine cash flow increased 11% QoQ to A$159.7 million
- Record net mine cash flow at Mungari (A$31.9 million) and Cracow (A$27.6 million)
Group free cash flow increased 33% QoQ to A$111.5 million
Total liquidity of A$528.9 million including cash of A$168.9 million and an undrawn A$360.0 million revolver

Improved Sustainability performance

Continued improvement in safety performance with TRIF1 reduced to 7.2 (31 December 2019: 8.4)
MSCI ESG Rating upgraded to A from BBB

Consistent operational delivery

No material impact to Evolution's operations from COVID-19 virus
Group gold production declined 3% QoQ to 165,502 ounces
All-inSustaining Cost2 (AISC) declined 7% QoQ to A$991 per ounce (US$652/oz)3

Red Lake to drive significant growth

Successful completion of Red Lake gold mine acquisition in Ontario, Canada on 31 March 2020
Leaner site leadership team established and Interim General Manager appointed
Evolution to receive A$18.8 million in cash flow for March 2020 quarter under 'locked box' mechanism

Continued exploration success with best intersections at:

Red Lake's Cochenour: 6.60m (4.88m etw) grading 16.97g/t Au and 3.30m (2.67 etw) grading 11.40g/t Au
Cowal's GRE46 and Dalwhinnie: 5.0m (4.0m etw) grading 28.9g/t Au and 12m (9.6etw) grading 10.8g/t
Mungari's Boomer: 0.30m (0.27m etw) grading 256.74g/t Au and 1.22m (1.03m etw) grading 119.95g/t Au

FY20 Group guidance unchanged

Group FY20 gold production, excluding Red Lake, is expected to be around 725,000 ounces at an AISC4 at the top end of guidance of A$990/oz
Should current spot metal prices be maintained during the June quarter, net cash flow is expected to be A$90 - 95 million higher4 but AISC would be negatively impacted by ~A$20 - 25/oz due to higher royalties and lower by-product credits

This announcement is authorised by the Board of Directors.

Consolidated production and sales summary

	Units
Gold produced	oz

Silver produced	oz

Copper produced	t

C1 Cash Cost	A$/oz

All-in Sustaining Cost	A$/oz

All-in Cost5	A$/oz
Gold sold	oz

Achieved gold price	A$/oz

Silver sold	oz

Achieved silver price	A$/oz

Copper sold	t

Achieved copper price	A$/t

Jun 2019	Sep 2019	Dec 2019	Mar 2020	FY20 YTD
qtr	qtr	qtr	qtr

194,886	191,967	170,890	165,502	528,359

184,693	182,948	137,262	118,224	438,435

5,648	5,382	5,572	4,832	15,786

579	741	778	767	761

915	1,018	1,069	991	1,026

1,213	1,330	1,584	1,584	1,488

190,810	205,188	173,408	167,374	545,970

1,858	2,111	2,091	2,366	2,183

180,039	175,128	144,757	118,472	438,357

22	25	24	27	25

5,776	5,370	5,612	4,801	15,783

8,350	8,476	8,802	8,174	8,500

TRIF: Total recordable injury frequency. The frequency of total recordable injuries per million hours worked
Includes C1 cash cost, plus royalties, sustaining capital, general corporate and administration expense. Calculated per ounce sold
Using the average AUD:USD exchange rate of 0.6584 for the March 2020 quarter
FY20 metal price assumptions for AISC calculations: gold A$2,100/oz; copper A$8,400/t
Includes AISC plus growth (major project) capital and discovery expenditure. Calculated per ounce sold

Evolution Mining Limited Quarterly Report March 2020

HIGHLIGHTS

Group Total Recordable Injury Frequency (TRIF) at 31 March 2020 declined to 7.2 (31 Dec 2019: 8.4) reflecting a continued trend of improving safety performance. Evolution's MSCI ESG rating was upgraded to 'A' from 'BBB', highlighting the Company's achievements in Sustainability performance.

Group gold production for the March 2020 quarter was 165,502 ounces (Dec qtr: 170,890oz) at an AISC of A$991/oz (Dec qtr: A$1,069/oz). Using the average AUD:USD exchange rate for the quarter of 0.6584, Group AISC equated to US$652/oz - ranking Evolution as one of the lowest cost gold producers in the world.

As at 31 March 2020, Evolution had cash in the bank of A$168.9 million and bank debt of A$570.0 million post draw down of the Red Lake facility on 31 March 2020 to fund the acquisition. By the date of this report on 23 April 2020 the cash balance and liquidity had increased to approximately A$240.0 million and A$600.0 million respectively.

Evolution delivered mine operating cash flow and net mine cash flow of A$257.4 million and A$159.7 million respectively (Dec qtr: A$233.1M; A$144.4M). Mine capital expenditure increased to A$97.7 million (Sep qtr: A$88.7M).

Standout operational performances for the quarter:

Mungari produced 32,721oz at an AISC of A$1,099/oz generating record net mine cash flow of A$31.9 million
Cracow produced 22,227oz at an AISC of A$1,150/oz generating record net mine cash flow of A$27.6 million
Ernest Henry produced 20,261oz at an AISC of A$(188)/oz generating net mine cash flow of A$59.6 million

rigs operating. Initial results are particularly pleasing at Cochenour where the best extensional hole intersected 6.60m (4.88m etw) grading 16.97g/t Au and the best resource definition hole intersected 3.30m (2.67 etw) grading 11.40g/t Au.

FY20 Group production, excluding Red Lake, is expected to be around 725,000 ounces at an AISC at the top end of guidance of A$990 per ounce. Should current spot metal prices be maintained during the June quarter, net cash flow is expected to be A$90 - 95 million higher4 but AISC would be negatively impacted by ~A$20 - 25/oz due to higher royalties and lower by-product credits. The majority of the higher production in the June quarter is expected to come from Mt Rawdon accessing higher grade ore in the open pit and Mt Carlton achieving first production from the higher-grade underground mine.

Group safety performance (TRIF)

8.3	9.3	8.4

		7.2

FY19 Q4

FY20 Q1

FY20 Q2

FY20 Q3

Group production (koz)

194.9 192.0 170.9 165.5

FY19 Q4

FY20 Q1

FY20 Q2

FY20 Q3

Group AISC (A$ per ounce)

Drilling at Cowal's GRE46 and Dalwhinnie focused on underground resource conversion and extensions. Several significant intersections including 5.0m (4.0m etw) grading 28.99g/t Au and

915

1,018 1,069 991

12m (9.6etw) grading 10.8g/t Au continue to demonstrate the continuity and grade of this 2.5Moz orebody.

Infill drilling completed at the newly discovered Boomer prospect, 300 metres west of development at Frogs Leg, continued to intercept a narrow folded laminated vein with visible gold with a best intersection of 0.30m (0.27m etw) grading 256.74g/t Au and 1.22m (1.03m etw) grading 119.95g/t Au.

Resource definition and extensional drilling has commenced at Red Lake with four underground drill

FY19 Q4

FY20 Q1

FY20 Q2

FY20 Q3

Group operating mine cash flow

(A$M)

217.4 278.7 233.1 257.4

FY19 Q4

FY20 Q1

FY20 Q2

FY20 Q3

TRIF: Total recordable injury frequency. The frequency of total recordable injuries per million hours worked. Results above are based on a 12-month moving average

Evolution Mining Limited Quarterly Report March 2020

COVID-19 UPDATE

Evolution continues to actively respond to the ongoing COVID-19 virus currently impacting people and businesses globally. The health and safety of every person working at Evolution, their families and our communities remains paramount during this time.

To date there has been no material impact on Evolution's operations from the COVID-19 virus.

No Evolution employee or contractor has tested positive to COVID-19. Evolution continues to work closely with regulators and industry groups to ensure all our operations are complying with agreed protocols and all changing requirements.

Evolution is operating under protocols developed to minimise risks to our people and communities and ensure we can safely produce gold during this challenging period. These plans include activation of our crisis management protocols, suspending international travel, restricting domestic travel, suspending activities across most of the Company's greenfields exploration projects, enacting strict social distancing protocols including reducing face- to-face interactions, increasing flexible working arrangements, ensuring best practice health management is maintained at all times and regular COVID-19 communication with the entire workforce.

We have also been actively engaging with our communities to share our COVID-19 approach and offer support. Examples of community assistance include providing educational materials for local school children who are learning remotely, donating hampers to nurses in local hospitals, donating PPE and hand sanitisers to hospitals and emergency

services providers, offering temporary employment to community members who have lost their jobs, and providing iPads to a local aged care facility.

Additional site specific health and safety initiatives introduced by our operations include:

Extending rosters to reduce movement of people
Relocation of interstate employees
Introducing flexible working arrangements with people working from home where possible
Hiring additional vehicles and charter flights to ensure social distancing is maintained while travelling to site and during site activities
Floor markings 1.5 metres apart in pre-start areas to ensure social distancing
Reduced number of contractors permitted on site to perform mill shutdowns and extending shutdowns to perform tasks in compliance with required protocols
Introducing occupancy limits in offices and meeting rooms
Additional paramedics hired for the duration of the pandemic to ensure at least two paramedics are on site per roster
Daily temperature testing and screening of all personnel on site
Daily COVID-19 briefings to employees

Evolution Mining Limited Quarterly Report March 2020

OVERVIEW
March 2020 quarter production and cost summary1
March 2020 quarter	Units	Cowal	Mungari	Mt	Mt	Cracow	Ernest	Group
Carlton	Rawdon	Henry

UG lat dev - capital	m	0	165	359	0	261	189	973
UG lat dev - operating	m	0	224	487	0	471	1,675	2,857
Total UG lateral development	m	0	389	846	0	731	1,864	3,830
UG ore mined	kt	0	111	24	0	127	1,755	2,017
UG grade mined	g/t	0	3.62	3.27	0	5.62	0.60	1.11
OP capital waste	kt	4,625	5	955	884	0	0	6,469
OP operating waste	kt	0	400	245	873	0	0	1,517
OP ore mined	kt	626	563	168	1,137	0	0	2,494
OP grade mined	g/t	0.94	2.04	3.62	0.58	0	0	1.21
Total ore mined	kt	626	674	191	1,137	127	1,755	4,511
Total tonnes processed	kt	2,026	471	220	833	133	1,496	5,179
Grade processed	g/t	1.15	2.39	2.81	0.70	5.72	0.60	1.22
Recovery	%	81.1	90.6	82.7	87.9	90.7	70.3	81.7
Gold produced	oz	60,554	32,721	13,306	16,434	22,227	20,261	165,502
Silver produced	oz	14,251	2,632	55,216	19,546	10,398	16,181	118,224
Copper produced	t	0	0	362	0	0	4,470	4,832
Gold sold	oz	59,451	33,028	12,931	16,088	22,307	23,570	167,374
Achieved gold price	A$/oz	2,307	2,301	2,756	2,415	2,387	2,341	2,366
Silver sold	oz	14,251	2,632	55,463	19,546	10,398	16,181	118,472
Achieved silver price	A$/oz	28	25	27	25	25	27	27
Copper sold	t	0	0	331	0	0	4,470	4,801
Achieved copper price	A$/t	0	0	8,938	0	0	8,117	8,174
Cost Summary
Mining	A$/prod oz	88	681	229	369	459		355
Processing	A$/prod oz	559	346	636	638	243		457
Administration and selling costs	A$/prod oz	133	99	451	173	149		192
Stockpile adjustments	A$/prod oz	140	(162)	(4)	(27)	18		19
By-product credits	A$/prod oz	(7)	(2)	(335)	(30)	(12)	(1,812)	(256)
C1 Cash Cost	A$/prod oz	914	962	977	1,123	857	(510)	767
C1 Cash Cost	A$/sold oz	931	953	1,005	1,148	854	(439)	759
Royalties	A$/sold oz	66	61	189	118	132	178	104
Gold in Circuit and other	A$/sold oz	(32)	16	103	(23)	4		(2)
adjustments

Sustaining capital2	A$/sold oz	59	37	85	96	150	72	78
Reclamation and other	A$/sold oz	7	32	35	19	11		15
adjustments

Administration costs3	A$/sold oz							38
All-in Sustaining Cost	A$/sold oz	1,031	1,099	1,417	1,357	1,150	(188)	991
Major project capital	A$/sold oz	857	121	1,708	460	33	0	509
Discovery	A$/sold oz	122	117	13	2	22	0	83
All-in Cost	A$/sold oz	2,011	1,337	3,138	1,819	1,205	(188)	1,584
Depreciation & Amortisation4	A$/prod oz	413	463	616	509	470	1,459	586

All metal production is reported as payable. Ernest Henry mining and processing statistics are in 100% terms while costs represent Evolution's cost
Sustaining Capital includes 60% UG mine development capital. Group Sustaining Capital includes A$3.96/oz for Corporate capital expenditure
Includes Share Based Payments
Group Depreciation and Amortisation includes non-cash Fair Value Unwind Amortisation of A$39/oz in relation to Cowal (A$34/oz) and Mungari

($88/oz) and Corporate Depreciation and Amortisation of A$2.00/oz

Evolution Mining Limited Quarterly Report March 2020

OVERVIEW
FY20 year to date production and cost summary1
FY20 YTD	Units	Cowal	Mungari	Mt	Mt	Cracow	Ernest	Group
Carlton	Rawdon	Henry

UG lat dev - capital	m	1,935	296	1,389	0	1,321	511	5,451
UG lat dev - operating	m	0	789	487	0	1,849	5,230	8,355
Total UG lateral development	m	1,935	1,085	1,876	0	3,170	5,741	13,806
UG ore mined	kt	0	330	24	0	360	5276	5,990
UG grade mined	g/t	0	3.51	3.27	0.00	5.79	0.58	1.07
OP capital waste	kt	11,047	5	3,248	2,811	0	0	17,111
OP operating waste	kt	165	2,299	741	2,532	0	0	5,737
OP ore mined	kt	2,230	1,381	538	2,841	0	0	6,989
OP grade mined	g/t	1.21	1.97	3.20	0.67	0.00	0.00	1.29
Total ore mined	kt	2,230	1,711	562	2,841	360	5,276	12,979
Total tonnes processed	kt	6,413	1,410	661	2,484	389	5,008	16,366
Grade processed	g/t	1.20	2.33	2.97	0.80	5.60	0.58	1.22
Recovery	%	81.6	91.2	84.3	88.2	91.5	75.0	82.1
Gold produced	oz	201,441	96,210	43,970	56,022	63,997	66,719	528,359
Silver produced	oz	123,849	9,128	160,327	66,642	28,090	50,399	438,435
Copper produced	t	0	0	933	0	0	14,853	15,786
Gold sold	oz	208,588	97,005	47,787	55,862	63,568	73,160	545,970
Achieved gold price	A$/oz	2,144	2,136	2,344	2,224	2,209	2,197	2,183
Silver sold	oz	123,849	9,128	160,250	66,642	28,090	50,399	438,357
Achieved silver price	A$/oz	25	25	26	25	23	26	25
Copper sold	t	0	0	930	0	0	14,853	15,783
Achieved copper price	A$/t	0	0	8,695	0	0	8,488	8,500
Cost Summary
Mining	A$/prod oz	96	743	185	573	460		370
Processing	A$/prod oz	471	352	597	582	247		417
Administration and selling costs	A$/prod oz	128	110	417	156	163		190
Stockpile adjustments	A$/prod oz	148	(86)	61	120	(6)		58
By-product credits	A$/prod oz	(15)	(2)	(278)	(30)	(10)	(1,909)	(275)
C1 Cash Cost	A$/prod oz	829	1,118	981	1,401	855	(729)	761
C1 Cash Cost	A$/sold oz	800	1,108	903	1,405	861	(665)	737
Royalties	A$/sold oz	64	53	180	108	120	176	98
Gold in Circuit and other	A$/sold oz	20	(1)	46	(16)	(4)		9
adjustments

Sustaining capital2	A$/sold oz	39	77	333	147	256	111	120
Reclamation and other	A$/sold oz	6	25	34	17	12		13
adjustments

Administration costs3	A$/sold oz							49
All-in Sustaining Cost	A$/sold oz	931	1,263	1,496	1,660	1,244	(378)	1,026
Major project capital	A$/sold oz	549	57	1,199	207	59	0	353
Discovery	A$/sold oz	174	147	14	2	33	0	109
All-in Cost	A$/sold oz	1,654	1,467	2,708	1,868	1,336	(378)	1,488
Depreciation & Amortisation4	A$/prod oz	372	455	759	651	432	1,428	591

All metal production is reported as payable. Ernest Henry mining and processing statistics are in 100% terms while costs represent Evolution's cost and not solely the cost of Ernest Henry's operation
Sustaining Capital includes 60% UG mine development capital. Group Sustaining Capital includes A$1.69/oz for Corporate capital expenditure
Includes Share Based Payments
Group Depreciation and Amortisation includes non-cash Fair Value Unwind Amortisation of A$30/oz in relation to Cowal (A$34/oz) and Mungari

($91/oz) and Corporate Depreciation and Amortisation of A$1.89/oz

Evolution Mining Limited Quarterly Report March 2020

OPERATIONS

Cowal, New South Wales (100%)

Mungari, Western Australia (100%)

Cowal produced 60,554oz of gold at an AISC of A$1,031/oz (Dec qtr: 65,080/oz, AISC A$898/oz). The planned lower production reflected the continued treatment of low grade stockpile material which was partially upgraded through ore-sorting.

Mine operating cash flow for the quarter was A$89.0 million (Dec qtr: A$95.9M). Net mine cash flow was A$34.5 million, post sustaining capital of A$3.6 million and major capital of A$51.0 million. Major projects investment included a continuation of Stage H stripping, the completion of the water pipeline twinning, the continuation of the Integrated Waste Landform (IWL) tailings facility construction and the underground Pre-Feasibility Study (PFS).

Total ore processed of 2.0Mt was lower than the December quarter due to both planned and unplanned shutdowns resulting in lower mill utilisation. Throughput is expected to increase back to the 9.0Mtpa run rate in the June 2020 quarter.

The combination of recent rains and increased pumping capacity through the completion of the pipeline twinning work have eased immediate water security issues. Work continues to further reduce the reliance on fresh groundwater offtake through accessing subsurface saline water sources.

GRE46 is Cowal's major project which provides significant production and mine life growth for the asset. The underground mine PFS is progressing to plan with an EPCM contractor mobilised during the quarter for initial design work. Underground drilling continues to upgrade resource classification and grow the 2.5Moz Mineral Resource. The maiden Ore Reserve is on track to be released in the December 2020 half year.

As Cowal progresses multiple projects, major capital for the year is expected to be A$165.0 - A$175.0 million. The higher investment is related to timing or new projects approved during the year comprising; Stage H development; water security infrastructure; and the underground mine PFS.

Mungari produced 32,721oz of gold at a significantly lower AISC A$1,099/oz (Dec qtr: 32,751oz, AISC A$1,344/oz).

Mine operating cash flow for the quarter was a record A$37.2 million (Dec qtr: A$30.4M). Net mine cash flow was also a record A$31.9 million (Dec qtr: A$24.8M) post sustaining and major capital investment of A$5.3 million.

The record net mine cash flow reflects a continued impressive turnaround as the operation consistently delivers to its operating plan. Mungari experienced strong margin expansion during the quarter driven by increased grade, lower sustaining capital and a higher gold price.

The Frog's Leg underground produced a consistent ore feed of 111kt at an increased grade of 3.62g/t gold (Dec qtr: 116kt at 3.27g/t gold). Total development of 389 metres was in line with operating plan.

Development to access the Boomer high grade vein is 90 metres from breaking through to the first ore position. Detailed drilling completed during the quarter informed design of the optimal access point for commencement of ore development. Vein access is expected to occur late in the June 2020 quarter.

White Foil open pit total material movement was 1,512kt, with ore mined at 563kt grading at 2.05g/t gold. Ore was sourced from both Stage 3a and 3b.

A major milestone was reached with Cutters Ridge open pit mining commencing during the quarter.

A total of 471kt of ore was processed at an average grade of 2.39g/t gold. Plant throughput was above plan but at a slightly lower rate than the December quarter as capital works commenced to achieve a sustainable 2.0Mtpa processing rate.

1,002					1,031	1,242	1,351	1,344
					1,099
				898
			885

67,878oz	75,807oz	65,080oz	60,554oz	30,457oz	30,738oz	32,751oz	32,721oz
FY19 Q4	FY20 Q1	FY20 Q2	FY20 Q3	FY19 Q4	FY20 Q1	FY20 Q2	FY20 Q3
		Production gold (oz)			AISC (A$/oz)			Production gold (oz)	AISC (A$/oz)

Evolution Mining Limited Quarterly Report March 2020

OPERATIONS

Mt Carlton, Queensland (100%)

Mt Rawdon, Queensland (100%)

Mt Carlton produced 13,306oz of payable gold comprising of 11,672oz contained in 12,757 dry metric tonnes (dmt) of gold concentrate and 1,634oz in gold doré (Dec qtr: 9,787oz production; 9,710oz in concentrate; 77oz gold doré). AISC decreased to A$1,417/oz (Dec qtr: A$2,182/oz).

Mine operating cash flow was A$20.1 million (Dec qtr: A$2.7 million). Net mine cash flow was negative A$3.0 million post sustaining and major capital of A$23.2 million predominantly related to developing the new underground mine and capital development in the open pit (Dec qtr: A$22.7M).

Mill throughput exceeded plan with a total of 220kt of ore at 2.81g/t gold treated (Dec qtr: 229.2kt; 2.09g/t). Recoveries averaged 82.7%.

Underground development has reached the orebody three months ahead of schedule and underground stoping will commence in the June 2020 quarter providing higher grade feed to the mill. Orebody intersections in development are broadly aligning with expectations from drilling and grade control drilling continues to infill the underground orebody to a 10 x 10m pattern.

The early delivery of the underground mine and accelerated open pit waste stripping will result in major capital for FY20 of A$65.0 - A$70.0 million. The higher capital spend this financial year is related to timing of these projects which would have been invested in FY21.

Mt Rawdon produced 16,434oz of gold at an AISC of A$1,357/oz (Dec qtr: 20,338oz; A$1,815/oz).

Mine operating cash flow was A$18.1 million (Dec qtr: A$13.9M). Net mine cash flow of A$9.1 million (Dec qtr: A$9.1M) was generated post sustaining and major capital investment of A$8.9 million.

Total material mined was in-line with plan as the western wall stabilisation project continued in the March quarter.

A total of 833kt of ore was processed at an average grade of 0.70g/t gold (Dec qtr: 832kt at 0.86 g/t). Plant recovery was 87.9% and plant utilisation was 96.2%.

Mt Rawdon is on track to deliver significantly higher production and lower AISC in the June 2020 quarter with recommencement of mining higher grade ore in the south-western end of the pit.

2,182

1,748

1,815

1,357

1,301

1,417

1,065

744

28,232oz

20,877oz

9,787oz

13,306oz

24,404oz

19,250oz

20,338oz

16,434oz

FY19 Q4

FY20 Q1

FY20 Q2

FY20 Q3

FY19 Q4

FY20 Q1

FY20 Q2

FY20 Q3

Production gold (oz)

AISC (A$/oz)

Production gold (oz)

AISC (A$/oz)

Evolution Mining Limited Quarterly Report March 2020

OPERATIONS

Cracow, Queensland (100%)

Cracow produced 22,227oz of gold at an AISC of A$1,150/oz (Dec qtr: 19,854oz, AISC A$1,284/oz).

Mine operating cash flow for the quarter was a record A$31.7 million (Dec qtr: A$23.0M). Net mine cash flow was also a record A$27.6 million (Dec qtr: A$16.0M), post sustaining capital of A$2.2 million and major capital of A$1.8 million.

A total of 127kt of ore was mined at an average grade of 5.62g/t gold. Primary ore sources were the Baz, Coronation and Imperial ore bodies. Mining was in line with forecasts with a continued focus on delivering to plan.

Mill throughput for the quarter was 133kt with record throughput of 51.6kt achieved in the month of March.

1,329	1,307	1,284	1,150

18,095oz	21,917oz	19,854oz	22,227oz
FY19 Q4	FY20 Q1	FY20 Q2	FY20 Q3
		Production gold (oz)		AISC (A$/oz)

Ernest Henry, Queensland

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

Evolution's interest in Ernest Henry delivered 20,261oz of gold and 4,470t of copper at an AISC of negative A$(188)/oz (Dec qtr: 23,080oz Au and 5,355t Cu at A$(526)/oz). Production in the quarter was negatively impacted by an unplanned breakdown in the ball mill which has been repaired. With excess processing capacity available, the operation is planning to make up for some of the March shortfall in the June quarter.

Ore mined was 1,755kt at an average grade of 0.60g/t gold and 1.10% copper. Underground lateral development was 2,234m, which includes 1,675m of operating development, 189m of capital development and 370m of rehab development. Ore processed was 1,496kt at an average grade of 0.60g/t gold and 1.09% copper. Gold recovery of 72.9% and copper recovery of 95.3% was achieved with mill utilisation at 79.4%.

Cash operating costs (C1) was negative A$(510)/oz after accounting for copper and silver by-product credits (Dec qtr: A$(925)/oz). Cash operating costs (C1) included by-product credits of A$(1,812)/oz.

Copper sales in the quarter were 4,470t at an average copper price of A$8,117/t.

Operating mine cash flow for the quarter was A$61.3 million representing the gold (A$55.2 million) and by-product sales of copper (A$36.3 million) and silver (A$0.4 million), net of Evolution's contribution to operating costs of A$30.6 million. Ernest Henry contributed a net mine cash flow of A$59.6 million, post sustaining capital of A$1.7 million.

Drilling below the 1200mRL is proceeding to plan with the development of a third platform currently underway. Initial drilling results have indicated mineralisation as expected which provided confidence to move to the next stage in the program. Over 18,000m of drilling is planned for CY2020.

Regarding COVID-19, a significant volume of work has been completed to ensure the sustainability of the Ernest Henry operation. A number of measures have been implemented specifically in relation to hygiene, cleaning and social distancing. To date, no significant impacts have been noted on the Ernest Henry operation.

						(188)
			(414)	(526)
(644)

25,820oz	23,378oz	23,080oz	20,261oz
FY19 Q4	FY20 Q1	FY20 Q2	FY20 Q3
		Production gold (oz)			AISC (A$/oz)

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

costs and not solely the cost of Ernest Henry's operation

Evolution Mining Limited Quarterly Report March 2020

OPERATIONS

Red Lake, Ontario (100%)

(Acquisition completed 31 March 2020)

Under the 'locked box' agreement with Newmont since 1 January 2020, Evolution will receive A$18.8 million in April 2020 from Red Lake's net cash generation in the March 2020 quarter. The mine produced and sold 37,895 and 42,141 ounces respectively in the March quarter.

Red Lake's June 2020 quarter production is expected to be around 25,000 ounces at an AISC of A$2,100 - A$2,3001 per ounce as the operation focuses on implementing the interim and transformation plans. Sustaining and major capital are expected to be A$5.0 - A$7.0 million and A$15.0 - A$17.0 million respectively. Exploration investment is expected to be A$3.0 - A$4.0 million.

Since the Red Lake acquisition was announced on 26 November 2019, all of Evolution's executive team, in addition to many other senior leaders and technical experts, have spent a considerable amount of time on site to commence planning the turnaround strategy and to ensure a smooth integration into the Evolution portfolio.

Key observations include: a high level of confidence in the ability to substantially grow mineral inventory; confirmation of the belief that fixed and variable costs can be significantly reduced; very positive engagement with the workforce who acknowledge change is required to secure the long term future of the operation; and validation of the scale of the turnaround opportunity.

An interim plan is now being executed at Red Lake as part of the delivery of a longer-term operational transformation with key objectives of:

Improving and maintaining the safety culture
Reducing AISC to below US$1,000 per ounce
Increasing production to above 200,000 ounces per annum

In order to recapitalise the asset and materially reduce the cost base of the operation, Evolution has committed to a significant investment in capital development and exploration over the next three years.

On 1 April 2020, immediately post completion of the acquisition, the Evolution Leadership team commenced 'virtual' town hall meetings to welcome the Red Lake team into the Evolution business. A new site leadership structure was announced and implemented which reduced leadership roles by 40%. Restructuring of the broader workforce will continue in the June 2020 quarter.

Evolution has made good progress to date in several key areas including:

Underground development rates increased to 755 metres in March. Development is expected to average 850 - 900 metres per month in the June 2020 quarter as the operation ramps up towards sustained development rates of over 1,000 metres per month from the September 2020 quarter onwards. Development in non- core areas has been stopped
Decommissioning of redundant underground mobile equipment
Commenced procurement process for underground mobile equipment to increase capacity and efficiencies. Delivery of the equipment is expected by the end of FY21.
Commencement of decommissioning the #1 shaft. Decommissioning of the Campbell shaft is scheduled for the March 2021 quarter
Refurbishment of the Campbell mill to improve reliability is underway and expected to be completed in the September 2020 quarter
Four diamond drills have commenced near mine resource definition and extensional drilling with a plan to increase this number to eight over the next 12 months

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

First gold doré bar poured at Red Lake under

Evolution ownership

1. Using an AUD:CAD FX assumption of 0.88 for the June 2020 quarter

Evolution Mining Limited Quarterly Report March 2020

FINANCIALS

Evolution ended quarter with cash at bank of A$168.9 million. Group cash flow improved by 33% to A$111.5 million prior to paying dividends of A$119.3 million in March and costs associated with the Red Lake transaction. The completion of the Red Lake acquisition resulted in the drawdown of A$570.0 million of syndicated debt.

Net mine cash flow for the March 2020 quarter totalled A$159.7 million, exceeding the December 2019 quarter (A$144.4M) primarily due to favourable metal prices and record quarterly net mine cash flows at Mungari and Cracow.

Mungari generated a record net mine cash flow of A$31.9 million (Dec qtr: A$24.8M). This record builds on the positive momentum at the site over the last three quarters while achieving a consistent operating performance and a sustained improvement in mill throughput rates

Cracow also generated record net mine cash flow of A$27.6 million for the quarter (Dec qtr: A$16.0m) following further increases in plant throughput due to sustained improvements in crusher and mill utilisation as well as reduced capital spend at the site.

Cowal generated net mine cash flow of A$34.5 million (Dec qtr: A$51.9M) after investing A$53.7 million.

Ernest Henry and Mt Rawdon's net mine cash flows were in line with the December quarter at A$59.6 million, and A$9.1 million respectively (Dec qtr: A$62.7M; and A$9.0M) while Mt Carlton's net mine cash flow was negative A$3.0 million (due to the investment on developing the new underground mine) but was better than the December quarter (negative A$20.0M) due to improved costs, higher sales volumes and a higher gold price.

During the March quarter, Evolution sold 167,374oz of gold at an average gold price of A2,366/oz (Dec qtr: 173,408oz at A$2,091/oz). Deliveries into the hedge book totalled 25,000oz at an average price of A$1,786/oz with the remaining 142,374oz of gold was delivered on spot markets at an average price of A$2,468/oz.

	Operating	Sustaining	Major
Cash flow (A$ Millions)	Mine Cash
	Capital	Capital1
	flow



Cowal	89.0	(3.6)	(51.0)

Mungari	37.2	(1.9)	(3.4)

Mt Carlton	20.1	(1.0)	(22.2)

Mt Rawdon	18.1	(1.5)	(7.4)

Cracow	31.7	(2.2)	(1.8)

Ernest Henry	61.3	(1.7)	0.0

March 2020 Quarter	257.4	(12.5)	(85.9)

December 2019 Quarter	233.1	(20.1)	(68.6)

September 2019 Quarter	278.7	(26.9)	(44.4)

Year to Date March 2020	769.3	(60.2)	(198.8)

1. Major Capital includes 100% of the UG mine development capital

Net	Net Mine
Mine	Cash
Cash	Flow
flow	YTD
34.5	176.3
31.9	72.9
(3.0)	(10.2)
9.1	26.7
27.6	57.5
59.6	188.4
159.7
144.4
207.4
511.5

Key capital investment items for the quarter included:

Cowal: Stage H Development (A$34.4 million); Integrated Waste Landform (A$5.5 million); Water security infrastructure (A$5.9 million), and underground mine Pre-Feasibility Study (A$2.7 million)
Mt. Carlton: Underground mine development (A$7.6 million) and Stage 4 Capital Stripping (A$6.4 million)
Mungari: Boomer deposit access (A$3.5 million)
Mt Rawdon: Open pit capital waste stripping and tails storage buttressing project (A$7.4 million)

FY20 Group Sustaining Capital is expected to be below the bottom end of guidance at A$80.0 - A$85.0 million (FY20 guidance: A$90.0 - A$130.0 million). Major Capital is expected to be above the top end of guidance at A$265.0 - A$275.0 million (FY20 guidance: (A$195.0 - A$235.0 million). This is primarily driven by acceleration of projects at Cowal and at Mt Carlton. Details are outlined in the commentary of the respective operations.

Evolution Mining Limited Quarterly Report March 2020

FINANCIALS

Discovery expenditure for the quarter was A$13.9 million (Dec qtr: A$23.5M). This included investment in the Warraga Exploration Decline at Cowal (A$2.8 million), continued drilling at the GRE underground at Cowal (A$5.7 million), and commencement of the Crush Creek and Cue projects (A$2.0 million). A total of 77,615 metres were drilled across the group (Dec qtr: 52,000m).

Corporate administration costs were A$5.5 million (Dec qtr: A$7.8M).

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

Cash flow (A$ Millions)		September		December		March		March
	2019 Qtr		2019 Qtr		2020 Qtr		2020 YTD



Operating Mine Cash flow		278.7		233.1		257.4	769.3

Total Capital		(71.3)		(88.7)		(97.7)	(257.7)

Net Mine Cash flow		207.4		144.4		159.7	511.5

Corporate and discovery		(29.8)		(31.3)		(19.4)	(80.6)

Net Interest expense		(1.8)		(1.7)		(1.2)	(4.7)

Dividend received		0.0		2.2		0.0	2.2

Working Capital Movement		3.8		(6.1)		(13.3)	(15.6)

Income Tax		(20.9)		(23.7)		(14.3)	(58.9)

Group Cash flow		158.6		83.8		111.5	353.9

Dividend payment		(102.1)		0.0		(119.3)	(221.4)

Debt repayment		(25.0)		(275.0)			(300.0)

Debt drawdown for Red Lake						570.0	570.0

Payment for Red Lake						(551.9)	(551.9)

Acquisitions and Integration		0.0		(5.2)		(11.7)	(16.9)

Net Group Cash flow		31.5		(196.4)		(1.4)	(166.3)

Opening Cash Balance 1 July 2019		335.1

Opening Cash Balance 1 October 2019				366.7

Opening Cash Balance 1 January 2020						170.3

Closing Group Cash Balance		366.7		170.3		168.9	168.9

Evolution's hedge book as at 31 March 2020 was 325,000oz at an average price of A$1,865/oz for deliveries of 25,000oz per quarter to June 2023.

At the completion of the Red Lake transaction, the company sold forward 120,000 ounces of gold (10,000 ounces per quarter) at an average spot price of C$2,302/oz through to 30 June 2023. Due to the backwardation of the forward market this results in an averaged hedged price of C$2,272/oz. This is as part of the Company's approach to have all operations funding their own capital investment requirements.

Interactive Analyst CentreTM

Evolution's financial and operational information is available to view via the Interactive Analyst CentreTM provided on our website at www.evolutionmining.com.auunder the Investors tab. This useful interactive platform allows users to chart and export Evolution's historical results for further analysis.

Evolution Mining Limited Quarterly Report March 2020

EXPLORATION

Exploration highlights

Red Lake

Resource definition and extensional drilling commenced with four underground drill rigs. Initial results at Cochenour are encouraging with the best extensional hole intersecting 6.60m (4.88m etw) grading 16.97g/t Au and the best resource definition holes intersecting 3.30m (2.67 etw) grading 11.40g/t Au and 0.20m (0.15m etw) grading 955.53g/t Au

Cowal

Drilling at GRE46 and Dalwhinnie is now focused on underground resource conversion and extending mineralisation beyond underground resource outlines. Several significant intersections including: 5.0m (4.0m etw) grading 28.99g/t Au and 12m (9.6m etw) grading 10.8g/t Au continue to demonstrate continuity and grade of the orebody

Mungari

Infill drilling completed at the Boomer, prospect 300m west of development at Frogs Leg, continued to intercept a narrow folded laminated vein with visible gold. The best intersections returned were 0.24m (0.22m etw) grading 102.88g/t Au and 1.22m (1.03m etw) grading 119.95g/t Au. An access drive from the Frogs Leg decline is advancing and is expected to intersect the Boomer vein late in the June 2020 quarter

Mt Carlton

Drilling commenced at the Crush Creek project (EVN earning 100%) located 30 kilometres southeast of Mt Carlton. Crush Creek consists of numerous high grade mineralised epithermal vein targets which could become important satellite ore feed for the operations at Mt Carlton. A second rig is expected to be added to the drilling program during the June 2020 quarter. Evolution expects initial results will start to become available late in the June 2020 quarter.

Total drilling of 23,888m (resource definition) and 77,615m (discovery) was completed during the quarter. Evolution's exploration tenement holding interests in Australia and Canada now stands at 8,708 km2.

Red Lake, Ontario (100%)

During the March quarter, drilling was focused on expanding and converting resource to reserves for the near- term mine plan. It was concentrated at the Cochenour and the Balmer Complexes. A total of 47 underground diamond drill holes (7,104m) were drilled utilising four drill rigs, two at each complex. Balmer Complex drilled a total of 21 underground drill holes (3,219m) and Cochenour Complex drilled a total of 26 diamond drill holes (3,885m).

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

Evolution Mining Limited Quarterly Report March 2020

EXPLORATION

Cochenour

Twenty six diamond drill holes were started and/or completed at Cochenour for a total of 3,885 metres. All holes were drilled by two underground rigs drilling from 4485L Exploration Drift.

Figure 2: Inclined Long Section Looking East, highlighting all pierce points of holes drilled in March quarter

A large number of results received during the quarter were from drilling completed in late 2019 and included complete results for eight holes completed in this period. The best intercepts include:

6.60m (4.88m etw) grading 16.97g/t Au from 122.8m (C44141) [BIF (Extensional)]
0.20m (0.15m etw) grading 955.53g/t Au from 31m (C44143B) [BIF (Infill)]
4.40m (3.18m etw) grading 7.32g/t Au from 64.9m (C44158) [BIF (Infill)]
3.30m (2.67 etw) grading 11.40g/t Au from 69.5m (C44154) [BIF (Infill)]

Drilling will continue from the 4485L exploration drift in the June 2020 quarter to extend existing ore panels along with conversion of inferred resource to indicated classification.

Lower Red Lake

Underground drilling at Lower Red Lake utilised two drills targeting the Deep Sulphides (DS), Hanging Wall 7 (HW7) and Twin Otter (TO) targets. The drilling programs were designed for resource conversion and expansion of known mineralisation.

Significant results from infill drilling at Twin Otter include:

6.70 (5.78m etw) grading 5.70g/t from 164.3m (44L911)
7.00 (5.32m etw) grading 3.41g/t from 175.9m (44L911)

Grades and widths are consistent with those predicted in the resource model and have increased confidence in grade continuity Twin Otter.

Evolution Mining Limited Quarterly Report March 2020

EXPLORATION

Figure 3: Long Section looking North East, highlighting all pierce points of diamond drill holes drilled in March

quarter within the Twin Otter project

Results from Deep Sulphides include:

4.40m (4.26m etw) grading 6.87g/t from 69.2m (43L502) from extension drilling
3.80m (3.25m etw) grading 6.85g/t from 98.4m (43L503) from infill drilling

Mineralised zones are typically 1 - 5m wide with an average strike length of 50m.

Figure 4: Long Section Looking North East, highlighting all pierce points of holes drilled in March quarter

targeting the Deep Sulphides project

Evolution Mining Limited Quarterly Report March 2020	14

EXPLORATION

Cowal, New South Wales (100%)

During the March quarter, resource definition drilling continued at GRE46 with 17 surface diamond holes (5,061m), and 65 underground diamond holes (17,901m) being completed. Regional exploration continued at the Reflector, Central Cowal and E46 North target areas with the drilling of 226 aircore holes (25,462m) and two diamond drill holes (709.1m).

GRE46

Hole numbers 1535DD453G and 1535DD544C returned the deepest intercepts to date, 880m and 910m below surface respectively. Pleasingly these results confirm that mineralisation remains open down plunge. Assay results include:

17m (13.6m etw) grading 4.56g/t from 1,267m (1535DD544C)
28m (22.4m etw) grading 2.36g/t from 1,140m (1535DD453G)
5m (4m etw) grading 9.19g/t from 1,222m (1535DD453G)

including 1m (0.8m etw) grading 38.7g/t from 1,225m

Surface drilling during the June quarter will focus on mineral resource extensions down plunge of known shoots.

The underground drilling program targeted mineralisation in the lava and Dalwhinne/volcaniclastics below the Warraga Decline with the aim of converting resources from inferred to indicated classification. Significant intercepts included:

5m (4m etw) grading 28.99g/t from 40m (GRUD0120)
12m (9.6m etw) grading 10.80g/t from 409m (GRUD0109)
23m (18.4m etw) grading 5.12g/t from 252m (GRUD0116)
34m (27.2m etw) grading 3.07g/t from 548m (GRUD0116)
22m (17.6m etw) grading 4.3g/t from 246m (GRUD0108)

Underground drilling continues from the eastern drill platforms targeting inferred mineral resource blocks in order to convert to indicated classification in the northern lava and the Dalwhinnie areas.

Figure 5: Long projection of the GRE46 structure looking west showing the location of drilling

completed during the March 2020 quarter

Evolution Mining Limited Quarterly Report March 2020

EXPLORATION

Mungari, Western Australia (100%)

A total of 12,930m of drilling was completed across three targets at Mungari during the quarter (Figure 6). Of this drilling, 45 surface diamond drill holes were completed at the Boomer prospect for 11,232m.

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

Boomer

Extensional and infill drill holes at Boomer, located 300m west of Frog's Leg development, continues to intercept a narrow, folded, laminated quartz vein, predominantly dipping 65° towards the south-west, with a shallow southeast plunge. Step-out drilling discovered a new lower lode, also folded and laminated, with a similar dip and plunge orientation. The vein contained visible gold and base metal sulphides. Best intercepts for the quarter include:

1.22m (1.03m etw) grading 119.95g/t Au from 146.3m (EVDD0110)
0.24 (0.22m etw) grading 102.88g/t Au from 215.8m (EVDD0082A)
0.38m (0.33m etw) grading 37.24g/t Au from 197.7m (EVDD0072)

Assays are pending for seven holes. The Boomer access drive is 185m from the Frogs Leg decline and is expected to intersect the Boomer vein late in the June 2020 quarter.

Evolution Mining Limited Quarterly Report March 2020

EXPLORATION

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

Picante Trend

Drilling continued along the Picante Trend approximately 1.5km north of the planned Castle Hill pit. Two diamond holes (443m in total) targeted a small high grade mineralised shoot now called Muy Picante. The holes intercepted mineralisation on the sheared contact between the tonalite and ultramafic and assisted with understanding controls on mineralisation and grade trends for estimation. Best intercepts include:

4.00m (3.87m etw) at 1.65g/t Au from 108 m (PICD030)
1.00m (0.97m etw) at 31.20g/t Au from 140 m (PICD031)
9.00 (8.70m etw) at 1.96g/t Au from 163 m (PICD031)

Exploration will continue along the 5km strike extent of the Picante Trend in FY21.

Evolution Mining Limited Quarterly Report March 2020

EXPLORATION

Figure 8: Long section of the Picante Trend looking west showing the location of drilling completed during the

March quarter (Intervals reported at >0.3 g/t with a max dilution of 1m)

Australian Greenfields Exploration

At the Cue Project (EVN earning 75% from Musgrave Minerals Ltd, ASX:MGV) an initial diamond drilling program was completed with two holes drilled for 574m during the quarter. A large regional aircore drilling program is ongoing over Lake Austin, with 138 holes drilled for 14,382m. It is anticipated the program will be completed early in the June 2020 quarter.

At the nearby Murchison Joint Venture (EVN earning 80% from Enterprise Metals Limited, AZX:EML) an aircore drilling program completed 77 holes (6034m) before it was suspended due to COVID-19 restrictions.

Exploration programs were suspended on the Drummond Project (EVN earning 80% from Andromeda Metals Limited, ASX:ADN) and at Connors Arc (EVN 100%) during the quarter also as a result of COVID-19.

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

Evolution Mining Limited Quarterly Report March 2020

EXPLORATION

Competent person statement

Exploration results

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

	Activity		Competent person


	Mungari resource definition and exploration results		Marcelle Watson


	Cowal resource definition and exploration results		James Biggam

	Red Lake resource definition and exploration results		Dean Fredericksen

Forward looking statements

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

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

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

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

Evolution Mining Limited Quarterly Report March 2020

CORPORATE INFORMATION

ABN 74 084 669 036

Board of Directors

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

Investor enquiries

Bryan O'Hara

General Manager Investor Relations

Evolution Mining Limited

Tel:	+61 (0) 2 9696 2900

Media enquiries

Michael Vaughan

Fivemark Partners

Tel:	+61 (0) 422 602 720

Internet address

www.evolutionmining.com.au

Registered and principal office

Level 24, 175 Liverpool Street

Sydney NSW 2000

Tel:	+61 (0)2 9696 2900
Fax:	+61 (0)2 9696 2901

Share register

Link Market Services Limited

Locked Bag A14

Sydney South NSW 1235

Tel:	1300 554 474 (within Australia)
Tel:	+61 (0)2 8280 7111
Fax:	+61 (0)2 9287 0303
Email:	registrars@linkmarketservices.com.au

Stock exchange listing

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

Issued share capital

At 31 March 2020 issued share capital was 1,704,404,430 ordinary shares.

Conference call

Jake Klein (Executive Chairman), Lawrie Conway (Finance Director and Chief Financial Officer), Bob Fulker (Chief Operating Officer), Glen Masterman (VP Discovery and Business Development) and Bryan O'Hara (General Manager Investor Relations) will host a conference call to discuss the quarterly results at 11.00am Sydney time on

Thursday 23 April 2020.

Shareholder - live audio stream

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

Analysts and media - conference call details

Conference call details for analysts and media includes Q

A participation. To be able to access the conference call please click on the link below. You will be required to pre- register which you will then be provided with a dial-in number, passcode and a unique access pin. This information will also be emailed to you as a calendar invite.

https://s1.c-conf.com/diamondpass/10004834-invite.html

To then join the conference, simply dial the number in the calendar invite and enter the passcode followed by your pin, and you will join the conference instantly. Please dial in five minutes before the conference starts and provide your name and the participant ID number.

Interactive Analyst CentreTM

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

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Drill Hole Information Summary

Red Lake

		Hole		Northing		Easting		Elevation	Hole
Hole ID						Length
	Type		NAD83 (m)		NAD83 (m)		(m)
						(m)



43L502		DDH		5655579.70		448068.45		-1538.71	118.9







43L503		DDH		5655580		448068.5		-1538.3	126.6

43L503		DDH		5655580		448068.5		-1538.3	126.6

43L503		DDH		5655580		448068.5		-1538.3	126.6

44L911		DD		5655146.51		448356.26		-1554.53	219.5





C44141		DD		5658195.73		442570.58		-962.54	218.4









C44155		DD		5658033.17		442519.26		-966.27	87.7


C44156		DD		5658033.25		442519.26		-966.90	120.4


C44158		DD		5658033.04		442519.71		-964.93	78.8


C44143B		DD		5658196.48		442570.87		-962.80	243.8



C44154		DD		5658033.26		442519.27		-965.64	78

C44159A		DD		5658032.81		442519.94		-966.44	97.5

C44159A

C44159A

C44159A

C44160		DD		5658032.66		442520.61		-963.83	96.1

Dip	Azimuth		From		Interval1	ETW		Au
NAD83	NAD83		(m)		(m)	(m)		(g/t)


-20.8	50.2		69.2		4.40	4.26		6.87

Including		71.3		0.60	0.58		28.53

			83.2		0.90	0.82		5.38

			89.3		0.30	0.26		20.27

			94.1		3.30	3.04		4.77

-5.4	50.5		88.3		0.80	0.69		8.002

-5.4	50.5		93.2		0.80	0.7		6.775

-5.4	50.5		98.4		3.80	3.25		6.853

-6.5	60.3		87.8		0.90	0.70		6.35

			164.3		6.70	5.78		5.70

			173.9		0.60	0.48		13.58

			175.9		7.00	5.32		3.41

-21.5	260.6		8.5		0.80	0.61		28.63

			48		2.40	1.95		5.19

Including		50.3		0.10	0.12		32.71

			122.8		6.60	4.88		16.97

Including		125.7		0.80	0.55		130.52

			168.5		3.70	3.58		4.23

-2.8	259		79.3		1.90	1.23		10.65

Including		80.3		0.20	0.10		59.82

-17.2	259.8		24.6		1.10	0.88		10.98

			44.6		0.30	0.30		19.75

22.4	247.2		45.4		0.30	0.26		22.23

			64.9		4.40	3.18		7.32

-20.5	284.7		31		0.20	0.15		955.53

			169.2		1.50	0.98		5.73

8.5	259.3		69.5		3.30	2.67		11.40

-8.9	247.4		23.3		4.00	3.06		4.07

			87.3		3.80	2.97		7.75

Including		87.3		0.20	0.19		24.65

Including		90.3		0.20	0.19		27.97

49.2	235.4		12.4		0.70	0.38		12.55

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Cowal

		Hole		Northing		Easting		Elevation	Hole		Dip	Azimuth	From		Interval	ETW		Au
Hole ID						Length				1
	Type		MGA (m)		MGA (m)		AHD (m)		MGA		MGA	(m)		(m)		(g/t)
						(m)				(m)


1535DD453G		DD		6,278,516		538,707		203.717	1382.67		-60	280	955		21	16.8	2.93

											including	955	7		5.6	5.68

													1002		4	3.2	3.46

													1048		8	6.4	2.59

													1140		28	22.4	2.36

													1222		5	4	9.19

											including	1225	1		0.8	38.7

1535DD466A		DD		6,278,038		538,797		204	1122.31		-60	261	912		2	1.6	35.45

													917		2.3	1.84	5.5

													931.47		1.3	1.04	38.3

													1114		1.3	1.04	8.9

1535DD466EXT		DD		6,278,038		538,797		204	1047.35		-60	261	831		4	3.2	3.16

													855		2	1.6	58.96

1535DD544C		DD		6,278,183		538,565		208.78	1665.72		-57	309	1267		17	13.6	4.56

1535DD544D		DD		6,278,183		538,565		208.78	925		-57	309	693		7	5.6	4.04

													871		12	9.6	2.58

1535DD545		DD		6,277,796		538,509		204.06	870.34		-58	306	697		9	7.2	12.14

GRUD0071		DD											202.7		1.3	0.78	16.6

GRUD0078		DD		6,278,781		538,071		-28.39	218.34		29	61	101		10	8	2.91

													113		3	2.4	3.21

													183		1	0.8	12.5

GRUD0079		DD		6,278,781		538,070		-29.34	260.56		15	42.5	129		9	7.2	5.43

GRUD0081		DD		6,279,012		538,008		-65.75	242.54		15	62	157		1	0.6	49.5

													168		7	4.2	3.5

GRUD0083		DD		6,279,012		538,008		-66.92	215.81		-12	86	155.8		2.2	1.32	5.05

													161		7.24	4.34	2.25

GRUD0084		DD		6,279,012		538,008		-65.4	305.07		23	77	157		4	2.4	12.03

											including	158	1		0.6	45.4

GRUD0086		DD		6,278,780		538,072		-29.41	190.25		10.5	88	87		6.1	3.66	3.86

													102		26	15.6	3.03

GRUD0087		DD		6,278,781		538,070		-30.7	230		-20	58	139		2	1.2	8.17

GRUD0088		DD		6,278,887		538,041		-47.87	197.83		-12	88	97		4	2.4	3

GRUD0090		DD		6,278,889		538,041		-47.63	340.02		6	74	296		2	1.2	7.02

GRUD0091		DD		6,278,890		538,040		-47.84	224.51		-4	58	105		1	0.8	27.9

													113		9	7.2	3.17

GRUD0093		DD		6,278,889		538,041		-48.68	239.76		-29.5	81	11		1	0.8	14.7

													148		12	9.6	2.18

GRUD0095		DD		6,278,318		538,447		63.14	530		-30	314	366		29	23.2	2.79

GRUD0097		DD		6,278,318		538,448		63.22	494.88		-18.5	318	243		3	2.4	6.85

													375		7	5.6	8.19

GRUD0098		DD		6,278,259		538,444		62.53	650		-54	285.5	350		3	2.4	4.65

													358		10	8	6.52

													409		8	6.4	7.02

													518		9	7.2	13.14

GRUD0099		DD		6,278,259		538,444		62.53	530		-49	304	342		16	12.8	4.2

													457		18	14.4	3.26

GRUD0100		DD		6,278,259		538,444		62	545.03		-46	302	274		15	12	3.75

													327		3	2.4	14.66

													335		1	0.8	27.5

													398		3	2.4	3.13

													430		3	2.4	6.58

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

		Hole		Northing		Easting		Elevation	Hole		Dip	Azimuth	From		Interval		ETW	Au
Hole ID						Length				1
	Type		MGA (m)		MGA (m)		AHD (m)		MGA		MGA	(m)		(m)		(g/t)
						(m)				(m)


													465		4		3.2	4.66

GRUD0101		DD		6,278,318		538,448		63	599.8		-36	310	336		17		13.6	2.89

													376		10		8	6.31

													455		2		1.6	8.5

													565		3		2.4	5.13

GRUD0108		DD		6,278,890		538,040		-49.02	330.03		-52	58	127		7		5.6	5.05

													156		4		3.2	3.41

													168		1		0.8	13.7

													217		6		4.8	3.74

													246		22		17.6	4.3

													321		4		3.2	3.95

GRUD0109		DD		6,278,259		538,444		62.53	570		-42	309.5	320		1		0.8	18.6

													346		4		3.2	3.73

													409		12		9.6	10.8

													427		2		1.6	5.35

													467		1		0.8	24.5

													534		2		1.6	5.32

GRUD0110		DD		6,278,259		538,444		62	480		-37	310	255		7		5.6	10.52

GRUD0115		DD		6,278,805		538,393		-7	461.82		-26	313	381		7		5.6	3.52

GRUD0116		DD		6,278,805		538,393		-7	596.7		-22	324	220		1		0.8	15.08

													252		23		18.4	5.12

												including	262		9		7.2	11.13

													517		8		6.4	3.96

													548		34		27.2	3.07

												including	552		15		12	4.44

GRUD0117		DD		6,278,805		538,393		-7	650.88		-31	319	407		5		4	2.77

													512		18		14.4	2.64

												including	518		3		2.4	8.81

													543		5		4	4.86

												including	544		1		0.8	19.4

GRUD0118		DD		6,278,259		538,444		62	535.42		-36.5	313	280		1		0.8	12.9

													283.94		4.06		3.25	9.58

													378		1		0.8	21.4

													406		4		3.2	3.47

													452		6		4.8	2.55

													475		8		6.4	8.49

													251		3		2.4	3.77

													367		5		4	3.4

GRUD0120		DD		6,278,816		538,208		-10	418.72		-48	342	15		1.1		0.88	23.1

													40		5		4	28.99

												including	42		1		0.8	139

													70		9		7.2	3.88

												including	75		3		2.4	8.69

													122		20		16	2.61

													405		5.1		4.08	4.26

GRUD0121		DD		6,278,318		538,448		63	353.52		-36.5	303	235		1		0.8	27.6

													247.94		2.06		1.65	34.99

GRUD0122		DD		6,278,273		538,389		61	236		-52.5	296.5	189		7		5.25	10.56

												including	191.9		2.1		1.5	31.65

GRUD0123		DD		6,278,273		538,389		61	279.77		-38.5	310.5	266		1		0.75	19.03

GRUD0124		DD		6,278,273		538,389		61	221.7		-26	317	125		0.8		0.6	12.84

													130		8		6	2.61

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

		Hole		Northing		Easting		Elevation	Hole		Dip	Azimuth	From		Interval		ETW	Au
Hole ID						Length				1
	Type		MGA (m)		MGA (m)		AHD (m)		MGA		MGA	(m)		(m)		(g/t)
						(m)				(m)


													150		9		6.75	4.22

													202		3		2.25	7.48

GRUD0125		DD		6,278,753		538,391		-9	833.59		-40.5	316.5	17		3		2.4	3.73

GRUD0126		DD		6,278,273		538,389		61	510.41		-53.5	306	239		16		12	3.19

												including	247		6.08		4.56	6.12

													305		1		0.75	40.9

GRUD0127		DD		6,278,805		538,393		-7	791.68		-36	320	707		4		3.2	4.83

													770		13		10.4	3.87

												including	777		4		3.2	10.28

GRUD0128		DD		6,278,753		538,391		-9	1000		-46	321	329		2		1.6	6.7

													338.24		3.06		2.45	10.21

													440		1		0.8	72.26

													737		5		4	2.57

													812		2.3		1.84	6.32

													914		4.12		3.3	3.21

GRUD0130		DD		6,278,273		538,389		61	280.03		-39	319	160		13		9.75	2.97

GRUD0131		DD		6,278,805		538,393		-7	599.39		-35	313	373		1		0.8	16.4

													387		4		3.2	2.5

													406		5		4	2.66

													437		26		20.8	2.51

												including	450		12		9.6	4.13

													524		1		0.8	13.4

													538		1		0.8	11.3

													554		5		4	13.6

GRUD0132		DD		6,278,273		538,389		61	260.15		-45.5	307	157		3		2.25	8.04

													235		4		3	2.78

GRUD0133		DD		6,278,273		538,389		61	266.44		-57	287	211		4		3	2.88

													219		3		2.25	2.88

													240		2		1.5	6.47

													247		2		1.5	12.7

GRUD0137		DD		6,278,259		538,444		62	557.48		-53.5	280	290		16		12.8	2.58

													317		34		27.2	2.72

												including	329		6		4.8	7.05

													390		9		7.2	2.52

													404		8		6.4	4.43

													425		19		15.2	2.42

												including	437		7		5.6	3.81

													454		13		10.4	2.46

													537		7		5.6	3.68

GRUD0138		DD		6,278,273		538,389		61	215.2		-21	323	58		3		2.3	5.52

													158		8		6	6.4

												including	161		1		0.75	33.4

													208		3		2.25	4.51

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

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

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Mungari

Hole ID		Hole
	Type

PICD030 DD

PICD031 DD

EVDD0072DD

EVDD0081DD

EVDD0082ADD

EVDD0083DD

EVDD0091ADD

EVDD0092DD

EVDD0093DD

EVDD0095DD

EVDD0096DD

EVDD0103DD

EVDD0108DD

EVDD0109DD

EVDD0110DD

EVDD0112DD

EVDD0113DD

EVDD0114DD

EVDD0116DD

EVDD0121DD

EVDD0128DD

EVDD0078DD

EVDD0084DD

EVDD0086DD

EVDD0087DD

EVDD0088DD

EVDD0090DD

EVDD0097DD

EVDD0098DD

EVDD0099DD

EVDD0101DD

EVDD0104DD

EVDD0106DD

EVDD0107DD

EVDD0111DD

FLRD378 DD

EVDD0080DD

Northing MGA		Elevation	Hole	Dip	Azimuth	From	Interval1	ETW	Au
Easting MGA (m)	Length
(m)	AHD (m)	MGA	MGA	(m)	(m)	(m)	(g/t)
	(m)

311645.84	6610200.34	417.97	201.80	-59.84	269.66	108.00	4.00	3.87	1.65
311673.01	6610279.82	416.82	241.00	-59.91	269.19	140.00	1.00	0.97	31.20
311673.01	6610279.82	416.82	241.00	-59.91	269.19	163.00	9.00	8.70	1.96
6595472.47	333845.53	337.81	240.00	-58.45	45.03	197.70	0.38	0.33	37.24
6595421.79	333870.16	338.61	255.00	-55.00	46.00	199.10	0.25	0.23	11.70
6595412.98	333861.68	338.43	280.20	-55.00	46.00	215.89	0.24	0.22	102.88
6595563.00	333844.90	337.73	170.13	-64.70	43.80	125.40	0.60	0.49	9.58
6595563.00	333844.90	337.73	170.13	-64.70	43.80	100.10	0.90	0.74	1.82
6595417.00	333872.00	338.00	224.80	-40.00	63.00	197.00	1.00	0.91	10.10
6595417.00	333872.00	338.00	224.80	-40.00	63.00	178.28	0.42	0.38	2.49
6595417.00	333872.00	338.00	224.80	-40.00	63.00	205.51	0.32	0.29	2.39
6595299.32	333915.69	338.69	235.05	-45.36	45.83	218.80	0.21	0.20	29.13
6595299.32	333915.69	338.69	235.05	-45.36	45.83	185.13	0.87	0.83	3.71
6595299.32	333915.69	338.69	235.05	-45.36	45.83	191.00	1.00	0.96	3.09
6595299.32	333915.69	338.69	235.05	-45.36	45.83	207.33	0.67	0.64	3.64
6595368.32	333889.18	337.79	245.00	-49.00	39.32	208.50	0.20	0.19	6.86
6595381.51	333888.64	337.63	250.02	-59.00	46.00	204.60	1.29	1.12	4.47
6595369.18	333876.54	338.58	265.20	-57.50	45.39	225.10	0.20	0.18	2.03
6595398.84	333758.30	343.83	330.03	-59.00	48.00	259.52	1.00	0.87	2.63
6595398.84	333758.30	343.83	330.03	-58.00	48.00	293.97	1.56	1.36	26.90
6595273.95	333892.12	342.29	323.73	-61.22	50.31	290.70	1.30	1.09	3.18
6595224.06	333840.56	345.04	425.32	-64.75	46.22	421.10	0.30	0.25	3.67
6595224.06	333840.56	345.04	425.32	-64.75	46.22	395.50	0.40	0.33	2.65
6595535.36	333843.84	338.10	170.10	-62.00	42.00	146.28	1.22	1.03	119.95
6595371.31	333761.98	343.75	331.20	-56.00	48.50	311.40	0.30	0.27	32.93
6595342.30	333776.47	343.65	375.00	-61.00	53.00	342.30	0.60	0.50	2.62
6595436.87	333745.71	343.43	310.00	-58.00	48.00	246.00	0.25	0.22	1.88
6595436.87	333745.71	343.43	310.00	-58.00	48.00	246.53	0.47	0.41	1.94
6595436.87	333745.71	343.43	310.00	-57.60	48.54	261.00	2.00	1.75	3.70
6595436.87	333745.71	343.43	310.00	-57.60	48.54	265.00	0.50	0.44	2.60
6595462.51	333735.77	343.44	287.30	-55.00	53.00	240.00	2.00	1.77	2.27
6595462.51	333735.77	343.44	287.30	-55.00	53.00	249.50	0.50	0.44	2.18
6595462.51	333735.77	343.44	287.30	-55.00	53.00	250.50	1.00	0.88	3.95
6595410.27	333763.27	343.39	310.30	-54.00	47.00	279.90	0.40	0.36	3.37
6595298.56	333798.51	344.26	407.00	-61.00	47.00	369.00	1.30	1.11	5.97
6595579.86	333829.47	337.74	185.10	-69.96	47.46		No significant intercept

6595637.79	333827.85	339.46	111.10	-40.00	45.07	No significant intercept

6595604.60	333795.70	339.13	140.90	-41.00	44.31	No significant intercept

6595589.46	333778.91	339.83	155.00	-41.00	44.22	No significant intercept

6595595.50	333843.33	338.17	116.00	-45.00	45.00	No significant intercept

6595508.47	333883.92	337.73	165.00	-43.00	75.00	No significant intercept

6595358.80	333863.94	339.74	285.30	-58.74	45.00	No significant intercept

6595706.52	333824.95	339.99	90.03	-52.34	45.00	No significant intercept

6595676.45	333794.52	339.34	125.24	-58.71	45.00	No significant intercept

6595482.53	333730.77	342.65	298.14	-62.10	45.00	No significant intercept

6595301.87	333702.06	342.46	440.00	-59.45	47.00	No significant intercept

6595300.91	333805.48	344.17	390.00	-61.90	45.00	No significant intercept

6595237.76	333739.95	343.49	448.38	-58.46	45.00	No significant intercept

6595617.43	333812.25	338.23	130.30	-65.87	45.00	No significant intercept

6595699.79	334164.38	234.50	333.40	-21.90	229.20	No significant intercept

6595425.56	333873.45	338.71	250.00	-53.00	42.44	No significant intercept

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

		Hole		Northing MGA			Elevation		Hole		Dip		Azimuth		From		Interval1		ETW	Au
Hole ID				Easting MGA (m)		Length
	Type		(m)		AHD (m)			MGA		MGA		(m)		(m)		(m)		(g/t)
						(m)


EVDD0085		DD		6595619.05	333811.97		338.72		124.00		-40.32		42.75			No significant intercept

EVDD0089		DD		6595509.46	333881.66		337.53		159.30		-41.20		53.02			No significant intercept

EVDD0094		DD		6595398.59	333882.70		337.87		233.70		-57.40		50.53			No significant intercept

EVDD0117		DD		6595444.00	333752.00		344.00		314.00		-66.39		41.00				Awaiting results

EVDD0118		DD		6595466.00	333747.00		343.00		293.10		-64.04		50.00				Awaiting results

EVDD0122		DD		6595381.00	333768.00		343.00		367.00		-68.76		35.50				Awaiting results

EVDD0123		DD		6595387.00	333775.00		343.00		327.00		-58.59		45.00				Awaiting results

EVDD0125		DD		6595329.00	333859.00		343.00		305.00		-58.00		38.00				Awaiting results

EVDD0127		DD		6595368.26	333774.30		343.26		372.10		-68.16		45.00				Awaiting results

EVDD0129		DD		6595289.11	333692.04		342.64		465.40		-61.78		45.00				Awaiting results

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

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake

Red Lake Section 1 Sampling Techniques and Data

Red Lake Operations Section 1 Sampling Techniques and Data

Criteria

Sampling techniques

Drilling techniques

Drill sample recovery

Explanation

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, handheldXRF instruments, etc). These examples should not be taken as limiting the broad meaning ofsampling.
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 thePublic Report.
In cases where 'industry standard' work has been completed this wouldbe relatively simple (e.g. 'reverse circulation drilling was used to obtain 1m samples from which 3 kg was pulverised to produce a 30 g chargefor 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/mineralisationtypes (e.g. submarine nodules).
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 whatmethod, etc.).
Method of recording and assessing core and chip sample recoveries andresults assessed.
Measures taken to maximise sample recovery and ensure representativenature of the samples.
Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain offine/coarse material.

Commentary

Sampling of gold mineralisation at Red Lake Operation was undertaken using diamond core (surface and underground).
All drill samples were logged prior to sampling. Diamond drill core was sampled to lithological, alteration and mineralisation related contacts. Sampling was carried out according to Red Lake Operations protocols and QAQC procedures which comply with industry best practice. All drill-hole collars were surveyed using a total station theodolite or total GPS.
The sampling and assaying methods are appropriate for the orogenic mineralised system and are representative for the mineralisation style. The sampling and assaying suitability was validated using Red Lake Operations QAQC protocol and no instruments or tools requiring calibration were used as part of the sampling process.
Diamond drill core sample intervals were based on geology to ensure a representative sample, with lengths ranging from 0.15 to 0.9m. Diamond drilling was half core sampled. All diamond core samples were dried, crushed and pulverised (total preparation) to produce a 50g charge for fire assay of Au. A suite of multi elements are determined using four-acid digest with ICP/MS and/or an ICP/AES finish for some sample intervals.
Drilling on site is conducted using diamond drill rigs, the core is extracted using a standard tube and core diameter is either BQTK (40.7mm) or NQ (47.6mm) in size,
All exploration drill core is orientated using the Tru-Core device.
Percentage of drill core recovery is not recorded at this time on site. All core is oriented and marked up at 1-foot intervals, intervals are compared to drillers depth.

Evolution Mining Limited Quarterly Report March 2020	27

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 1 Sampling Techniques and Data

Criteria

Logging

Sub-sampling techniques and sample preparation

Explanation

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 therelevant intersections logged.
If core, whether cut or sawn andwhether quarter, half or all core taken.
If non-core, whether riffled, tube sampled, rotary split, etc and whethersampled wet or dry.
For all sample types, the nature, quality and appropriateness of thesample preparation technique.
Quality control procedures adopted for all sub-sampling stages to maximiserepresentivity 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 thematerial being sampled.

Commentary

• All logging is both qualitative and quantitative in nature

recording features such as structural data, lithology,

mineralogy, alteration, mineralisation types, vein density, colour

etc. All holes are photographed wet.

• All diamond holes were logged in entirely from collar to end of

hole.

• All drill core once logged is digitally photographed. The

photographs capture all data presented on the core.

• Diamond core drilled was half core sampled and the remaining

half was retained.

• Core is cut to preserve the bottom of hole orientation line, in

some instance core may be quarter cut and send for analysis.

• Sample preparation of diamond samples was undertaken by

external laboratories according to the sample preparation and

assaying protocol established to maximise the representation of

the Red Lake Operations mineralisation. Laboratories

performance was monitored as part of Red Lake Operations

QAQC procedure. Laboratory inspections were undertaken to

monitor the laboratories compliance to the Red Lake Operations

sampling and sample preparation protocol.

• The sample and size (1.5kg to 4kg) relative to the particle size

(>90% passing 75um) of the material sampled is a commonly

utilised practice for effective sample representation for gold

deposits within the Orogenic Gold deposits of the Superior

Craton Canada.

• Quality control procedures adopted to maximise sample

representation for all sub-sampling stages include the collection

of field and laboratory duplicates and the insertion of certified

reference material as assay standards (1 in 20) and the

insertion of blank samples (1 in 20) or at the geologist's

discretion. Coarse blank material is routinely submitted for

assay and is inserted into each mineralised zone where

possible and always after a sample identified as having visible

gold. The quality control performance was monitored as part of

Red Lake Operations QAQC procedure.

• The sample preparation has been conducted by commercial

laboratories. All samples are oven dried (60°C), jaw crushed to

90% passing <2mm and riffle split to a maximum sample weight

of 1kg as required. The primary sample is then pulverised in a

one stage process, using a LM2 pulveriser, to a particle size of

>90% passing 75um. Approximately 250g of the primary sample

is extracted by spatula to a numbered paper pulp bag that is

used for a 50g fire assay charge. The pulp is retained, and the

bulk residue is disposed of after four months.

• Measures taken to ensure sample representation include the

collection of field duplicates during diamond core sampling

drilling at the geologist's discretion and within the ore zone.

Duplicate samples for diamond core are collected during the

sample preparation crushing and pulverisation stage. A

comparison of the duplicate sample vs. the primary sample

assay result was undertaken as part of Red Lake Operations

QAQC protocol. It is considered that all sub-sampling and lab

preparations are consistent with other laboratories in Canada

and are satisfactory for the intended purpose.

• The sample sizes are considered appropriate and in line with

industry standards.

• The sampling preparation and assaying protocol used at Red

Quality of assay data	•	The	nature,	quality	and
and laboratory tests	appropriateness of the	assaying	and
	laboratory	procedures	used	and

	whether the technique is considered
	partial or total.

Lake Operations was developed to ensure the quality and

suitability of the assaying and laboratory procedures relative to

the mineralisation types.

• No geophysical tools or other remote sensing instruments were

utilised for reporting or interpretation of gold mineralisation.

• Fire assay is designed to measure the total gold within a

Evolution Mining Limited Quarterly Report March 2020	28

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 1 Sampling Techniques and Data

Criteria

Verification of sampling and assaying

Location of data points

Data spacing and distribution

Orientation of data in relation to geological structure

Explanation

Commentary

• For geophysical tools, spectrometers,

sample. Fire assay has been confirmed as a suitable technique

handheld XRF instruments etc. the

for orogenic type mineralisation. It has been extensively used

parameters used in determining the

throughout the North Western Ontario region. Screen fire assay

analysis including instrument make and

•

have also been used to validate the fire assay techniques.

model,

reading

times,

calibrations

Quality control samples were routinely inserted into the

factors applied and their derivation, etc.

sampling sequence and also inserted at the discretion of the

• Nature of quality control procedures

geologist

either

inside or around

the

expected zones

mineralisation. The intent of the procedure for reviewing the

adopted

(eg

standards,

blanks,

performance

certified standard

reference

material

duplicates, external laboratory checks)

examine for

any

erroneous results

result

outside

the

and

whether

acceptable

levels

expected statistically derived tolerance limits) and to validate if

accuracy

(i.e.

lack

bias)

and

required; the acceptable levels of accuracy and precision for all

precision have been established.

stages of the sampling and analytical process. Typically,

batches which fail quality control checks are re-analysed.

•

The

verification

significant

•

Independent

internal

or external

verification

of significant

intercepts is not routinely completed. The quality control / quality

intersections by either independent or

assurance

(QAQC)

process ensures

the

intercepts

are

alternative company personnel.

representative for the orogenic gold systems. Half core and

• The use of twinned holes.

sample pulps are retained at Red Lake Operations for two years

if further verification is required.

• Documentation of primary data, data

•

The twinning of holes is not a common practice undertaken at

entry procedures, data verification and

Red Lake Operations. The face sample and drill hole data with

data storage (physical and electronic)

the mill reconciliation data is of sufficient density to validate

protocols.

neighbouring samples. Data which is inconsistent with the

• Discuss any adjustment to assay data

known geology undergoes further

verification

to ensure

its

quality.

• All sample and assay information is stored utilising the acQuire

database software system. Data undergoes QAQC validation

prior to being accepted and loaded into the database. Assay

results are merged when received electronically from the

laboratory. The geologist reviews the database checking for the

correct merging of results and that all data has been received

and entered. Any adjustments to this data are recorded

permanently in the database. Historical paper records (where

available) are retained in the exploration and mining offices.

• No adjustments or calibrations have been made to the final

assay data reported by the laboratory.

• Accuracy and quality of surveys used

• Drill hole collar positions are surveyed by the site-based survey

department or contract surveyors (utilising a differential GPS or

to locate drillholes (collar and downhole

conventional surveying techniques, with reference to a known

surveys), trenches, mine workings and

base station) with a precision of less than 0.2m variability.

other

locations

used

Mineral

• All drill holes at Red Lake Operations have been surveyed for

Resource estimation.

easting, northing and reduced level. Recent data is collected

• Specification of the grid system used.

and stored in RLO Mine Grid.

• Topographic control was generated from aerial surveys and

• Quality and adequacy of topographic

detailed Lidar surveys.

control.

•

Data

spacing

for

reporting

•

The nominal drill spacing for Exploration drilling is 22m x 42m

Exploration Results.

or wider and for Resource Definition is 11m x 21m.This spacing

• Whether the data spacing and

includes data that has been verified from previous exploration

distribution is sufficient to establish the

•

activities on the project.

degree

geological

and grade

Data spacing and distribution is considered sufficient for

continuity appropriate for the Mineral

establishing geological continuity and grade variability

Resource and Ore Reserve estimation

•

appropriate for classifying a Mineral Resource.

procedure(s)

and

classifications

Sample compositing was not applied due to the often-narrow

applied.

mineralised zones.

• Whether sample compositing has

been applied.

• Whether the orientation of sampling

•

Mineralized

zones

the Red Lake-Campbell

deposit

are

distinguished first

spatial orientation

relative

to structural

achieves

unbiased

sampling

corridors and second by the style of mineralization. It is common

possible structures

and the

extent to

for mineralized zones to have multiple styles of mineralization

which

this is

known,

considering

the

within the same host lithology.

deposit type.

• There are four types of mineralization in Red Lake-Campbell

Deposit; 1) Vein Style Gold Mineralization, 2)

Vein and Sulphide Style Gold Mineralization, 3) Disseminated

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 1 Sampling Techniques and Data

	Criteria	Explanation			Commentary

		• If the relationship between the drilling			Sulphide Style Mineralization locally referred to as replacement
		orientation and the orientation of key			mineralization 4) Free Gold Mineralization Style
		mineralised structures is considered to			• The relationship between the drilling orientation and the
		have introduced a sampling bias, this			orientation of key mineralised structures at Red Lake is not
		should be assessed and reported if			considered to have introduced a sampling bias and is not
		material.			considered to be material.
					• Resource Definition and Exploration drilling is typically planned
					to intersect mineralised domains in an orientation that does not
					introduce sample bias. A small number of holes are drilled at
					sub-optimal orientations to test for alternate geological
					interpretations.

	Sample security	• The measures taken to ensure			• Chain of custody protocols to ensure the security of samples are
			followed. Prior to submission samples are retained on site and
		sample security.
				access to the samples is restricted. Collected samples are

					dropped off at the respective commercial laboratories in North
					Western Ontario. Access into the laboratory is restricted and
					movements of personnel and the samples are tracked under
					supervision of the laboratory staff. During some drill campaigns
					some samples are collected directly from site by the commercial
					laboratory. While various laboratories have been used, the
					chain of custody and sample security protocols have remained
					similar.

	Audits or reviews	• The results of any audits or reviews			• Internal and External audits have been conducted in the past at
			Red Lake Operations.
		of sampling techniques and data.


Red Lake Section 2 Reporting of Exploration Results

Red Lake Operations Section 2 Reporting of Exploration Results

Criteria			Explanation			Commentary

Mineral tenement and	•	Type,	reference name/number,	•	Resource Definition drilling was undertaken on the following
land tenure status	location	and	ownership	including		mining claims: Cochenour & Red Lake Claims: PAT-8059,
	agreements or material issues with third	•	PAT-8064,PAT-6850,PAT-6836,MLO-3508
	parties such as joint ventures,	All mining claims are in good standing. Tenure consists of
	partnerships,	overriding	royalties,		Patents, subject to annual Mining Land Taxes issued in
	native title interests, historical sites,		January.
	wilderness or national park and	• Title registered on land tenure is 100% owned.
	environmental settings.		• There are currently no paying Royalties. Of the five known
	• The security of the tenure held at the		Royalties within the Mine Closure Plan, two are proximal to the
	time of reporting along with any known		current Cochenour workings, TVX (Kinross) and Inco (Vale),
	impediments to obtaining a licence to		and one is proximal to the Red Lake workings (Hill). The
	operate in the area.			shapes are recorded in Engineering work files for future
							reference and mine planning.
						• Historical sites have been rehabilitated and are monitored by
							the Environmental Dept.

Exploration done by	•	Acknowledgment and appraisal of	• Red Lake and Campbell were first staked during the Red Lake
other parties	exploration by other parties.
		Gold Rush in 1926. Subsequently, there was a period of claim

							cancellations and re-staking of the area. Both mines opened in
							the late 1940's. Red Lake and Campbell Mine were combined
							in 2006 when Goldcorp purchased Campbell Mine.
						• The earliest known exploration on the Cochenour-Willans
							property was in 1925. Cochenour-Willans Gold Mines Ltd. was
							incorporated in 1936 and production began in 1939 at a rate of
							136-181 t/d. Operations ran for 32 years, from 1939-1971. It
							was acquired by Goldcorp in 2008.
						• Aside from the Red Lake gold mines and Cochenour mine,
							Evolution also holds past producing operations that include the
							HG Young, Abino, McMarmac, Gold Eagle Mine, and McKenzie
							Red Lake mines.

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 2 Reporting of Exploration Results

Criteria

Geology

Drill hole Information

Data aggregation methods

Relationship between mineralisation widths and intercept lengths

Explanation

Deposit type, geological setting andstyle of mineralisation.

A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Materialdrillholes:
o easting and northing of the drillholecollar
o elevation or RL of the drillhole collaro dip and azimuth of the hole
o downhole length and interceptiondepth
o hole length.
In reporting Exploration Results,
weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-offgrades are usually materialand should be stated.
Where aggregate intercepts incorporate short lengths of high-graderesults and longer lengths of low-graderesults, the procedure used for such aggregation should be stated and some typical examples of such aggregationsshould be shown in detail.
The assumptions used for any reporting of metal equivalent valuesshould be clearly stated.
These relationships are particularly important in the reporting of ExplorationResults.

Commentary

The mineralization within the Red Lake Operations can be classified as an Archean greenstone belt-hosted gold deposit.
Red Lake Operations is hosted in the Red Lake greenstone belt within the Uchi Domain on the southern margin of the North Caribou Terrane of the Superior Province, Canada.
Red Lake Operations is underlain mainly by tholeiitic basalt and locally by komatiitic basalt of the Balmer Assemblage. The mine sequence also includes felsic, peridotitic and other mafic to lamprophyric intrusive rocks of various younger ages. Both Red Lake- Campbell and Cochenour deposits are hosted within significantly folded and sheared portions of the Balmer assemblage. Shear zones act as primary hydrothermal fluid corridors and host significant portions of the gold mineralization in the area. Other significant mineralized structures occur within lower-strain areas of the stratigraphy, usually associated with brittle conjugate fracture systems in close proximity to lithological boundaries possessing high competency contrasts.
Gold mineralization is hosted in a variety of rock types within the Red Lake Greenstone belt, although the majority of the productive zones occur as vein systems accompanying sulphide replacement within sheared mafic to komatiitic basalts of the Balmer Assemblage.
Gold bearing zones in the Red Lake-Campbell and Cochenour deposit are distinguished first by spatial orientation relative to structural corridors and second by the style of mineralization. It is common for zones to have multiple styles of mineralization within the same host lithology. There are four styles of mineralization common in the Red Lake-Campbell and Cochenour deposit; Vein style, Vein and Sulphide style, Disseminated Sulphide (Replacement) style and free gold style.
Refer to the drill hole information table in the Appendix of this report.

For results reporting: A minimum grade truncation of 2.74gpt standard is followed; no maximum grade truncation standard is applied.
Where aggregate intercepts incorporate short lengths of high- grade and longer lengths of low-grade results, a weighted average of the values is applied to report the entire aggregate intercept. A short length high-grade intercept is then highlighted as an including value if result is >3 times the grade of the entire aggregate intercept in which it is incorporated.
Intercept length weighted average techniques, minimum grade truncations and cut-off grades have been used in this report.
If a hole has NSA values (ie gxm is less then 4 or 4g/t x m) the interval has been removed from the hole, if the entire hole has NSA, the hole is noted in the table in the appendix with an NSA value for g/t.
Composite lengths and grade as well as internal significant values are reported in Appendix.
No metal equivalent values are used.
At Red Lake Operations where reliable estimated true widths can be calculated these have been included along with down hole measurements.

Evolution Mining Limited Quarterly Report March 2020	31

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 2 Reporting of Exploration Results

Criteria

Diagrams

Explanation

If the geometry of the mineralisation with respect to the drill hole angle isknown, its nature should be reported.
If it is not known and only the downhole lengths are reported, there should be a clear statement to this effect (e.g. 'downhole length, true widthnot known')
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 viewof drill hole.

Commentary

Drill hole location diagrams and representative sections of reported exploration results are provided either below or in the body of this report.

Plan view showing locations of drill holes and targeted

projects at Deep sulphides and Twin Otter

Plan view showing locations of drill holes and targeted

projects at Cochenour

Balanced reporting		• Where comprehensive reporting of all		• All Exploration and Resource Definition results have been
	Exploration Results is not practicable,		reported in the Drill Hole Information Summary in the Appendix

		representative reporting of both low and		of this report.
		high grades and/or widths should be
		practiced to avoid misleading reporting
		of Exploration Results.
Other substantive		• Other exploration data, if meaningful		• A substantial Exploration and Resource Definition program is
	and material, should be reported		on-going at the Red Lake Operation site.
exploration data
	including (but not limited to): geological

		observations;	geophysical	survey
		results; geochemical survey	results;
		bulk samples - size and method of
		treatment; metallurgical test	results;

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Red Lake Operations Section 2 Reporting of Exploration Results

Criteria		Explanation		Commentary

	bulk density, groundwater, geotechnical
	and rock	characteristics;	potential
	deleterious	or	contaminating
	substances.
Further work	• The nature and	scale of	planned	• Further Exploration, Near Mine Exploration and Resource
	further work (e.g. tests for lateral		Definition work on the Red Lake Operations is planned for the
	extensions or depth extensions or		remainder of FY20
	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 commerciallysensitive.

Cowal

Cowal Section 1 Sampling Techniques and Data

Criteria

Explanation

Commentary

Sampling techniques

• Nature and quality of sampling (e.g. cut

• Holes in this report consist of conventional diamond core

channels, random chips, or specific

drilling.

specialised

industry

standard

• Drill holes were positioned strategically to infill gaps in the

measurement tools appropriate to the

existing drill data set and test continuity of known

minerals under investigation, such as

lodes/mineralised structures. Collar and down hole surveys

downhole

gamma

sondes,

handheld

were utilised to accurately record final locations. Industry

XRF instruments, etc.). These examples

standard sampling, assaying and QA/QC practices were

should not be taken as limiting the broad

applied to all holes.

meaning of sampling.

• Prior to 2018 drill core was halved with a diamond saw in 1 m

• Include reference to measures taken to

intervals, irrespective of geological contacts. Since 2018

Sampling to lithological contacts has been implemented. Oxide

ensure sample representation and the

material that was too soft and friable to be cut with a diamond

appropriate

calibration

any

saw was split with a chisel. Core was cut to preserve the bottom

measurement tools or systems used.

of hole orientation mark and the top half of core sent for analysis

• Aspects

the

determination

to ensure no bias is introduced. RC samples were collected

mineralisation

that are material to

the

directly from a splitter at the drill rig.

Public Report.

• Sample preparation was conducted by SGS West Wyalong and

In cases where 'industry standard' ALS Orange. Sample preparation consisted of:

		work has been completed this would be			• Drying in the oven at 105ºC; crushing in a jaw crusher; fine
		relatively	simple	(e.g.	'reverse	crushing in a Boyd crusher to 2-3mm; rotary splitting a 3kg
		circulation drilling was used to obtain 1			assay sub-sample if the sample is too large for the LM5 mill;
		m samples from which 3 kg was			pulverising in the LM5 mill to nominal; 90% passing 75 µm; and
		pulverised to produce a 30 g charge for			a 50g fire assay charge was taken with an atomic absorption
		fire assay'). In other cases, more			(AA) finish. The detection limit was 0.01 g/t Au.
		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).

Drilling technique		• Drill type (e.g. core, reverse circulation,			• Diamond drill holes were drilled HQ diameter through the
	open-hole hammer, rotary air blast,			clay/oxide and NQ diameter through the primary rock to end of

		auger, Bangka, sonic, etc.) and details			hole.
		(e.g. core diameter, triple or standard			• All core in this report has been drilled since 2009 and has been
		tube, depth of diamond tails, face-			oriented using accepted industry techniques at the time.
		sampling bit or other type, whether core
		is oriented and if so, by what method,
		etc.).

Drill sample recovery		• Method of recording and assessing core			• Provisions are made in the drilling contract to ensure that hole
	and chip sample recoveries and results			deviation is minimised, and core sample recovery is maximised.

		assessed.				Core recovery is recorded in the database. There are no

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Cowal Section 1 Sampling Techniques and Data

Criteria	Explanation	Commentary

Measures taken to maximise samplesignificant core loss or sample recovery issues. Core is
recovery and ensure representativereoriented and marked up at 1m intervals. Measurements of

nature of the samples.

recovered core are made and reconciled to the driller's depth

• Whether a relationship exists between

blocks, and if necessary, to the driller's rod counts.

• There is very no apparent relationship between core-loss and

sample recovery and grade and whether

grade.

sample bias may have occurred due to

preferential

loss/gain

fine/coarse

material.

• Logging

• Whether core and chip samples have

•

Geologists log core

for lithology, alteration, structure, and

veining. Logging was done directly onto laptop computers via

been

geologically

and

geotechnically

LogChief software which is validated and uploaded directly into

logged

to a

level

detail

to support

the Datashed database.

appropriate Mineral Resource estimation,

• The Cowal logging system allows recording of both a primary

mining studies and metallurgical studies.

and a secondary lithology and alteration. Geologists also record

• Whether

logging

qualitative

the colour, texture, grain size, sorting, rounding, fabric, and

fabric intensity characterising each lithological interval.

quantitative in nature. Core (or costean,

• The logged structures include faults, shears, breccias, major

channel etc.) photography.

veins, lithological contacts, and intrusive contacts. Structures

The total length and percentage of the

are also recorded as point data to accommodate orientation

relevant intersections logged.

measurements.

• Structural measurements are obtained using a core orientation

device. Core is rotated into its original orientation, using the

Gyro survey data as a guide. Freiberg compasses and

Kenometer Core Orientation tools are used for structural

measurements.

• Geologists log vein

data including

vein frequency, vein

percentage of interval, vein type, composition, sulphide

percentage per metre, visible gold, sulphide type, and

comments relative to each metre logged.

•

Geotechnical logging is done by field technicians and

geologists. Logging is on a per metre basis and includes

percentage core recovery, percentage RQD, fracture count, and

an estimate of hardness. The geotechnical data is entered into

the database.

• All drill core, once logged, is digitally photographed on a core

tray-by-tray basis. The digital image captures all metre marks,

the orientation line (BOH) and geologist's lithology, alteration,

mineralogy, and other pertinent demarcations. The geologists

highlight geologically significant features such that they can be

clearly referenced in the digital images.

Sub-sampling

• If core, whether cut

sawn

and

•

Diamond Core is cut with a diamond saw or chisel. Core is cut

whether quarter, half or all core taken.

to preserve the bottom of hole orientation mark and the top half

techniques and

• If non-core, whether riffled, tube

of core is always sent for analysis

to ensure no bias is

sample preparation

sampled, rotary split, etc. and whether

•

introduced.

sampled wet or dry.

In 2003 Analytical Solutions Ltd conducted a Review of Sample

For all sample types, the nature, qualityPreparation, Assay and Quality Control Procedures for Cowal
and appropriateness of the sampleGold Project. This study, combined with respective operating

preparation technique.		company policy and standards (North Ltd, Homestake, Barrick
• Quality control procedures adopted for		and Evolution) formed the framework for the sampling, assaying
all sub-sampling stages to maximise		and QAQC protocols used at Cowal to ensure appropriate and
representivity of samples.		representative sampling.
• Measures taken to ensure that the		• Results per interval are reviewed for half core samples and if
sampling is representative of the in-situ		unexpected or anomalous assays are returned an additional
material collected, including for instance		quarter core may be submitted for assay.
results for field duplicate/second-half
sampling.

Whether sample sizes are appropriate to the grain size of the material beingsampled.

Quality of assay data	• The nature, quality and appropriateness			• SGS West Wyalong and ALS Orange are utilised as primary
		sources of analytical information. Round	robin checks are
and laboratory tests	of the assaying and laboratory
		completed regularly between the two laboratories. Both labs
	procedures used and whether the
			operate to international standards and procedures and take part
	technique is considered partial or total.
			in the Geostatistical Round Robin inter-laboratory test survey.

				The Cowal QA/QC program comprises	blanks, Certified

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Cowal Section 1 Sampling Techniques and Data

Criteria	Explanation	Commentary

For geophysical tools, spectrometers,Reference Material (CRM), inter-laboratory duplicate checks,

handheld XRF instruments etc. the

•

and grind checks.

parameters

used

determining

the

1 in 30 fine crush residue samples has an assay duplicate. 1 in

analysis including instrument make and

20 pulp residue samples has an assay duplicate.

model, reading times, calibrations factors

•

Wet screen grind checks are performed on 1 in 20 pulp residue

applied and their derivation, etc.

samples. A blank is submitted 1 in every 38 samples, CRM's

• Nature of quality

control

procedures

are submitted 1 in every 20 samples. The frequency of repeat

assays is set at 1 in 30 samples.

adopted

(e.g.

standards,

blanks,

• All sample numbers, including standards and duplicates, are

duplicates,

external

laboratory

checks)

pre-assigned by a

QA/QC

Administrator

and given

to the

and

whether

acceptable

levels

sampler on a sample sheet. The QA/QC Administrator monitors

accuracy (i.e. lack of bias) and precision

the assay results for non-compliance and requests action when

have been established.

necessary. Batches with CRM's that are outside the ±2SD

acceptance criteria are reviewed and re-assayed if definitive

bias is determined or if re-assay will make a material difference.

• Material

used

for

blanks

uncertified,

sourced

locally,

comprising fine river gravel which has been determined to be

below detection limit. A single blank is submitted every 38

samples. Results are reviewed by the QA/QC Administrator

upon receipt for non-compliances. Any assay value greater than

0.1 g/t Au will result in a notice to the laboratory. Blank assays

above 0.20 g/t Au result in re-assay of the entire batch. The

duplicate assays (Au2) are taken by the laboratory during the

subsampling at the crushing and pulverisation stages. The

results were analysed using scatter plots and relative

percentage difference (RPD) plots. Repeat assays represent

approx. 10% of total samples assayed. Typically, there is a large

variance at the lower grades which is common for low grade

gold deposits, however, the variance decreases to less than

10% for grades above 0.40 g/t Au, which is the cut-off grade

used at Cowal.

• Approximately

of the pulps, representing a range of

expected grades, are submitted to an umpire assay laboratory

(ALS Orange) to check for repeatability and precision. Analysis

of the data shows that the Principal Laboratory is performing to

an acceptable level.

Verification of

•

The

verification

significant

• No dedicated twinning drilling has been conducted for this drill

program.

sampling and

intersections by

either

independent

•

Cowal uses DataShed software system

to maintain the

assaying

alternative company personnel.

database. Digital assay results are loaded directly into the

• The use of twinned holes.

database. The software performs verification checks including

checking

for

missing sample

numbers,

matching

sample

Documentation of primary data, datanumbers, changes in sampling codes, inconsistent "from-to"
entry procedures, data verification andentries, and missing fields. Results are not entered into the
data storage (physical and electronic)database until the QA/QC Administrator approves of the results.

	protocols.					A QA/QC report is completed for each drill hole and filed with
						the log, assay sheet, and other appropriate data. Only the
	• Discuss any adjustment to assay data
				Senior Project Geologist and Database Manager have

						administrator rights to the database. Others can use and sort

						the database but not save or delete data.
Location of data	• Accuracy and quality of surveys used to			• All drill hole collars were surveyed using high definition DGPS.
			All drill holes were surveyed using a downhole survey camera.
points	locate drillholes (collar	and downhole
			The first survey reading was taken near the collar to determine
	surveys), trenches, mine	workings and
				accurate set up and then at regular intervals downhole.
	other locations used in Mineral Resource
			• On completion of each angled drill hole, a down hole gyroscopic
	estimation.
					(Gyro) survey was conducted. The Gyro tool was referenced to

	• Specification of the grid system used.			•	the accurate surface surveyed position of each hole collar.
			The Gyro results were entered into the drill hole database
	• Quality and adequacy of topographic
				without conversion or smoothing.
	control.				•	An aerial survey was flown during 2003 by AAM Hatch. This
						digital data has been combined with surveyed drill hole collar
						positions and other features (tracks, lake shoreline) to create a
						digital terrain model (DTM). The survey was last updated in late
						2014.
					• In 2004, Cowal implemented a new mine grid system with the
						assistance of AAM Hatch. The current mine grid system covers
						all areas within the ML and ELs at Cowal with six digits.

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Cowal Section 1 Sampling Techniques and Data

Criteria			Explanation			Commentary

Data spacing and		•	Data spacing for reporting of			• The exploration drillholes reported in this report are targeted to
	Exploration Results.			test for continuity of mineralisation as interpreted from previous
distribution
	• Whether the data spacing and			drilling. It is not yet known whether this drilling is testing the full

		distribution is sufficient to establish the			extent of the mineralised geological zones. All drilling prior to
		degree of geological and grade continuity			2018 is sampled at 1 m intervals down hole. Lithological based
		appropriate for the Mineral Resource and			sampling was implemented in 2018 with a maximum sample
		Ore Reserve estimation procedure(s) and			length of 1m and a minimum sample length of 0.3m to avoid
		classifications applied.		sampling across geological boundaries.

Whether sample compositing has beenapplied.

Orientation of data in	• Whether the orientation of sampling			• Diamond holes were positioned to optimise intersection angles
relation to geological	achieves unbiased sampling of possible			of the target area. In respect of the drilling at E41W drilling is
structure	structures and the extent to which this is			targeted to drill at right angles to the dominant vein direction
	known, considering the deposit type.			however the extent of the vein package is currently unknown.
	• If the relationship between the drilling			• The Drilling at Galway Regal is oriented perpendicular to the
	orientation and the orientation of key			known mineralised package.
	mineralised structures is considered to
	have introduced a sampling bias, this
	should be assessed and reported if
	material.
Sample security	• The measures taken to ensure sample			• Drill contractors are issued with drill instructions by an Evolution
		geologist. The sheet provides drill hole names, details, sample
	security.
			requirements, and depths for each drill hole. Drill hole sample

				bags are pre-numbered. The drill holes are sampled by
				Evolution personnel who prepare sample submission sheets.
				The submission sheet is then emailed to the laboratory with a
				unique submission number assigned. This then allows
				individual drill holes to be tracked.
				• An SGS West Wyalong (SGS) representative collects the
				samples from site twice daily, however, if samples are being
				sent to another laboratory a local freight company is used to
				collect the samples from site and deliver them to the laboratory.
				Upon arrival, the laboratory sorts each crate and compares the
				received samples with the supplied submission sheet. The
				laboratory assigns a unique batch number and dispatches a
				reconciliation sheet for each submission via email. The
				reconciliation sheet is checked, and any issues addressed. The
				new batch name and dispatch information is entered into the
				tracking sheet. The laboratory processes each batch separately
				and tracks all samples through the laboratory utilising the LIMS
				system. Upon completion, the laboratory emails Standard
				Industry Format (SIF) files with the results for each batch to
				Evolution personnel.
				• The assay batch files are checked against the tracking
				spreadsheet and processed. The drill plan is marked off
				showing completed drill holes. Any sample or QA/QC issues
				with the results are tracked and resolved with the laboratory.
• Audits or reviews	• The results of any audits or reviews of			• QA/QC Audits of the Primary SGS West Wyalong Laboratory
		are carried out on an approximately quarterly basis and for the
	sampling techniques and data.
			Umpire ASL Orange Laboratory approximately on a six-monthly

				basis. Any issues are noted and agreed remedial actions
				assigned and dated for completion.
				• Numerous internal audits of the database and systems have
				been undertaken by site geologists and company technical
				groups from North Ltd, Homestake, Barrick and Evolution.
				External audits were conducted in 2003 by RMI and QCS Ltd.
				and in 2011 and 2014 review and validation was conducted by
				RPA. MiningOne conducted a review of the Cowal Database in
				2016 as part of the peer review process for the Stage H
				Feasibility Study. Recent audits have found no significant issues
				with data management systems or data quality.

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Cowal Section 2 Reporting of Exploration Results

Criteria			Explanation						Commentary

Mineral tenement and		• Type, reference name/number, location			•	The Cowal Mine is located on the western side of Lake
	and ownership including agreements or				Cowal in central New South Wales, approximately 38 km
land tenure status
	material issues with third parties such as				north of West Wyalong and 350 km west of Sydney. Drilling

		joint ventures, partnerships, overriding				documented in this report was undertaken on ML1535. This
		royalties, native title interests, historical				Lease is wholly owned by Evolution Mining Ltd. and CGO
		sites, wilderness or national park and				has all required operational, environmental and heritage
		environmental settings.						permits and approvals for the work conducted on the Lease.
		• The security of the tenure held at the				There are not any other known significant factors or risks
		time of reporting along with any known				that may affect access, title, or the right or ability to perform
		impediments to obtaining a licence to				further work programs on the Lease.
		operate in the area.
Exploration done by		•	Acknowledgment and	appraisal	of			• The Cowal region has been subject to various exploration and
				drilling programs by GeoPeko, North Ltd., Rio Tinto Ltd.,
other parties		exploration by other parties.
						Homestake and Barrick.


Geology		•	Deposit type, geological	setting	and			• The Cowal gold deposits (E41, E42, E46, Galway and Regal)
				occur within the 40 km long by 15 km wide Ordovician Lake
		style of mineralisation.
							Cowal Volcanic Complex, east of the Gilmore Fault Zone

									within the eastern portion of the Lachlan Fold Belt. There is
									sparse outcrop across the Lake Cowal Volcanic Complex
									and, as a consequence, the regional geology has largely
									been defined by interpretation of regional aeromagnetic and
									exploration drilling programs.
								• The Lake Cowal Volcanic Complex contains potassium rich
									calc-alkaline to shoshonitic high level intrusive complexes,
									thick trachyandesitic volcanics, and volcaniclastic sediment
									piles.
								•	The gold deposits at Cowal are structurally hosted,
									epithermal to mesothermal gold deposits occurring within and
									marginal to a 230 m thick dioritic to gabbroic sill intruding
									trachy-andesitic volcaniclastic rocks and lavas.
								• The overall structure of the gold deposits is complex but in
									general consists of a faulted antiform that plunges shallowly
									to the north-northeast. The deposits are aligned along a
									north-south orientated corridor with bounding faults, the
									Booberoi Fault on the western side and the Reflector Fault on
									the eastern side (the Gold Corridor).
Drill hole Information		• A summary of all information material to			•	Drill hole information is provided in the Drill Hole Information
		the understanding of the exploration				Summary presented in the Appendix of this report.
		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.

Data aggregation		• In reporting Exploration	Results,		• Significant intercepts have nominally been calculated based
	weighting	averaging	techniques,		on a minimum interval length of 3m, max internal dilution of
methods
	maximum	and/or minimum	grade		5m and a minimum grade of 0.4g/t Au. However, some

		truncations (e.g. cutting of high grades)		intervals with sizable Au grades may be reported individually
		and cut-off grades are usually material		if appropriate. Au Grades are reported un-cut.
		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 beshown in detail.

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Cowal Section 2 Reporting of Exploration Results

Criteria			Explanation			Commentary

		• The assumptions used for any reporting
		of metal equivalent values should be
		clearly stated.

Relationship between		•	These relationships are particularly			• Mineralisation within the drilling area is bounded by large
	important in the reporting of Exploration			north-south trending structures, however it has strong
mineralisation widths
	Results.			internally oblique structural controls. Drill holes are typically
and intercept lengths
	• If the geometry of the mineralisation with			oriented to optimise the angle of intercept at the target

		respect to the drill hole angle is known, its			location. All significant intercepts are reported as down hole
		nature should be reported.			intervals unless labelled as Estimated True Widths (ETW).
		• If it is not known and only the downhole
		lengths are reported, there should be a
		clear statement to this effect (e.g.
		'downhole length, true width not known')
Diagrams		•	Appropriate maps and sections (with			• Drill hole location plans for reported drilling at Cowal is
			provided below. A representative section is provided.
		scales) and tabulations of intercepts

		should be included for any significant
		discovery being reported. These should
		include, but not be limited to a plan view
		of drill hole

Drill hole location plan

Cross section through E42 and GRE46

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

Significant intercepts reported are only those areas where mineralisation was identified.
These assay results have not been previously reported.
All earlier significant assay results have been reported in previous ASX announcements.
The intercepts reported for this period form part of a larger drill program that was still in progress at the time of writing. Remaining holes are awaiting logging, processing and assays and future significant results will be published as appropriate.

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Cowal Section 2 Reporting of Exploration Results

Criteria			Explanation			Commentary

Other substantive	• Other exploration	data, if meaningful			• No other substantive data was collected during the report
		period.
exploration data	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 orcontaminating substances.

Further work	• The nature and scale of planned further
	work (e.g. tests for lateral extensions or
	depth extensions or largescale step-out
	drilling).
	• Diagrams clearly highlighting the areas
	of possible extensions, including the main
	geological interpretations and future
	drilling areas, provided this information is
	not commercially sensitive.

Results from these programs will be incorporated into current models and interpretations and further work will be determined based on the outcomes.

Mungari

Mungari Section 1 Sampling Techniques and Data

Criteria		Explanation			Commentary

Sampling techniques	• Nature and quality of sampling (e.g.			• Sampling of gold mineralisation at Mungari was undertaken
	cut channels, random chips, or			using diamond core (surface) and reverse circulation (RC) drill
	specific specialised industry standard			chips.
	measurement tools appropriate to the			• All drill samples were logged prior to sampling. Diamond drill
	minerals under investigation, such as			core was sampled to lithological, alteration and mineralisation
	downhole gamma sondes, handheld			related contacts, whilst RC samples were collected at 1m
	XRF instruments, etc). These			downhole intervals. Sampling was carried out according to
	examples should not be taken as			Evolution protocols and QAQC procedures which comply with
	limiting the broad meaning of			industry best practice. All drill-hole collars were surveyed using
	sampling.				a total station theodolite or total GPS.
	• Include reference to measures taken			• The sampling and assaying methods are appropriate for the
	to ensure sample representation and			orogenic mineralised system and are representative for the
	the appropriate calibration of any			mineralisation style. The sampling and assaying suitability was
	measurement tools or systems used.			validated using Evolution's QAQC protocol and no instruments
	• Aspects of the determination of			or tools requiring calibration were used as part of the sampling
	mineralisation that are material to the			process.
	Public Report.				• RC drilling was sampled to obtain 1m samples using a static
	• In cases where 'industry standard'			cone splitter from which 3 to 5 kg was crushed and pulverised
	work has been completed this would			to produce a 30g to 50g subsample for fire assay. Diamond
	be relatively simple (e.g. 'reverse			drillcore sample intervals were based on geology to ensure a
	circulation drilling was used to obtain 1			representative sample, with lengths ranging from 0.2 to 1.2m.
	m samples from which 3 kg was			Surface diamond drilling was half core sampled. All diamond
	pulverised to produce a 30 g charge			core samples were dried, crushed and pulverised (total
	for fire assay'). In other cases, more			preparation) to produce a 30g to 50g charge for fire assay of Au.
	explanation may be required, such as			A suite of multi elements are determined using four-acid digest
	where there is coarse gold that has			with ICP/MS and/or an ICP/AES finish for some sample
	inherent	sampling	problems, or			intervals.
	unusual	commodities/mineralisation
	types (e.g. submarine nodules).

Drilling techniques	• Drill	type (e.g.	core, reverse			• RC sampling was completed using a 4.5" to 5.5" diameter face
	circulation, open-hole hammer, rotary			sampling hammer. Diamond holes from surface were
	air blast, auger, Bangka, sonic, etc.)			predominantly wireline NQ2 (50.5mm) or HQ (63.5mm) holes.
	and details (e.g. core diameter, triple or			• All diamond core from surface core was orientated using the
	standard tube, depth of diamond tails,			reflex (act II or ezi-ori) tool.
	face-sampling bit or other type, whether

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Mungari Section 1 Sampling Techniques and Data

Criteria

Explanation

Commentary

core is oriented and if so, by what

method, etc.).

Drill sample recovery

• Method of recording and assessing

• RC drilling sample weights were recorded for selected sample

intervals and monitored for fluctuations against the expected

core and chip sample recoveries and

sample weight. If samples were below the expected weight,

results assessed.

feedback was given promptly to the RC driller to modify drilling

• Measures taken to maximise sample

•

practices to achieve the expected weights.

All diamond

core

was orientated

and

measured

during

recovery

and ensure

representative

processing and the recovery recorded

into the drill-hole

nature of the samples.

database. The core was reconstructed into continuous runs on

• Whether a relationship exists

a cradle for orientation marking. Hole depths were checked

between sample recovery and grade

•

against the driller's core blocks.

and whether sample bias may have

Inconsistencies between the logging and the driller's core depth

occurred due to preferential loss/gain of

measurement blocks are investigated. Core recovery has been

fine/coarse material.

acceptable. Surface drilling recoveries were generally excellent

with the exception of oxide zones however these rarely fell

below 90%.

•

Measures taken to maximise sample recovery include

instructions to drillers to slow down drilling rates or reduce the

coring run length in less competent ground.

• Analysis of drill sample bias and loss/gain was undertaken with

the Overall Mine Reconciliation performance where available.

Logging

• Whether core and chip samples have

•

RC drill chips and diamond core have been geologically logged

been geologically and

geotechnically

to the level of detail required for the Mineral Resource

logged to a level of detail to support

•

estimation, mining studies and metallurgical studies.

appropriate

Mineral

Resource

All logging is both qualitative and quantitative in nature

estimation,

mining

studies

and

recording features such as structural data, RQD, sample

metallurgical studies.

recovery, lithology, mineralogy, alteration, mineralisation types,

• Whether logging is qualitative or

vein density, oxidation state, weathering, colour etc. All holes

quantitative in nature. Core (or costean,

•

are photographed wet.

channel etc.) photography.

All RC and diamond holes were logged in entirety from collar to

The total length and percentage of the

end of hole.

relevant intersections logged.

Sub-sampling

• If core,

whether cut

or sawn

and

• Most diamond core drilled from surface was half core sampled

and the remaining half was retained. In the oxide zone, where

techniques and

whether quarter, half or all core taken.

cutting can wash away samples, some surface holes were full

sample preparation

• If non-core, whether riffled,

tube

core sampled.

• All RC samples were split by a cone or a riffle splitter and

sampled, rotary split, etc and whether

collected into a sequenced calico bag. Any wet samples that

sampled wet or dry.

could not be riffle split were dried then riffle split.

• For all sample types, the nature,

•

Sample preparation of RC and diamond samples was

quality and appropriateness of the

undertaken by external laboratories according to the sample

sample preparation technique.

preparation and assaying protocol established to maximise the

• Quality control procedures adopted

representation

the Mungari

mineralisation. Laboratories

performance was

monitored as

part

Evolution's

QAQC

for all sub-sampling stages to maximise

procedure. Laboratory inspections were undertaken to monitor

representivity of samples.

the laboratories compliance to the Mungari sampling and

• Measures taken to ensure that the

sample preparation protocol.

• The sample and size (2.5kg to 4kg) relative to the particle size

sampling is representative of the in-situ

(>85% passing 75um) of the material sampled is a commonly

material

collected,

including

for

utilised practice for effective sample

representation

for gold

instance

results

for

field

deposits within the Eastern Goldfields of Western Australia.

duplicate/second-half sampling.

•

Quality control procedures adopted to maximise sample

• Whether sample sizes are

representation for all sub-sampling stages include the collection

appropriate to the grain size of the

of field and laboratory duplicates and the insertion of certified

material being sampled.

reference material as assay standards (1 in 20) and the

insertion of blank samples (1 in 20) or at the geologist's

discretion. Coarse blank material is routinely submitted for

assay and is inserted into each mineralised zone where

possible. The quality control performance was monitored as part

of Evolution's QAQC procedure.

• The sample preparation has been conducted by commercial

laboratories. All samples are oven dried (between 85°C and

105°C), jaw crushed to nominal <3mm and if required split by a

rotary splitter device to a maximum sample weight of 3.5kg as

required. The primary sample is then pulverised in a one stage

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Mungari Section 1 Sampling Techniques and Data

Criteria

Quality of assay data and laboratory tests

Verification of sampling and assaying

Explanation

• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is consideredpartial or total.

For geophysical tools, spectrometers, handheld XRF instruments etc. the parameters used in determining the analysis including instrument make and model, reading times, calibrationsfactors 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) andprecision have been established.

The verification of significant intersections by either independent oralternative 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

Commentary

process, using a LM5 pulveriser, to a particle size of >85% passing 75um. Approximately 200g of the primary sample is extracted by spatula to a numbered paper pulp bag that is used for a 40g fire assay charge. The pulp is retained and the bulk residue is disposed of after two months.

There are two assay analysis methods used for Boomer diamond samples with visible gold have four 40g charges extracted from the parent pulp sample bag and fire assayed with the average used for final reporting. This is to manage the variability in assay grades due to the nuggetty gold. Boomer vein intercepts without visible gold have the standard 1 x 40g fire assay as described above.
Measures taken to ensure sample representation include the collection of field duplicates during RC drilling at a frequency rate of 5%. Duplicate samples for both RC chips and diamond core are collected during the sample preparation pulverisation stage. A comparison of the duplicate sample vs. the primary sample assay result was undertaken as part of Evolution's
QAQC protocol. It is considered that all sub-sampling and lab preparations are consistent with other laboratories in Australia and are satisfactory for the intended purpose.
The sample sizes are considered appropriate and in line with industry standards.
The sampling preparation and assaying protocol used at Mungari was developed to ensure the quality and suitability of the assaying and laboratory procedures relative to the mineralisation types.
Fire assay is designed to measure the total gold within a sample. Fire assay has been confirmed as a suitable technique for orogenic type mineralisation. It has been extensively used throughout the Goldfields region. Screen fire assay and LeachWELL / bottle roll analysis techniques have also been used to validate the fire assay techniques.
The technique utilised a 30g, 40g or 50g sample charge with a lead flux, which is decomposed in a furnace with the prill being totally digested by 2 acids (HCI and HN03) before the gold content is determined by an AAS machine.
No geophysical tools or other remote sensing instruments were utilised for reporting or interpretation of gold mineralisation.
Quality control samples were routinely inserted into the sampling sequence and were also inserted either inside or around the expected zones of mineralisation. The intent of the procedure for reviewing the performance of certified standard reference material is to examine for any erroneous results (a result outside of the expected statistically derived tolerance limits) and to validate if required; the acceptable levels of accuracy and precision for all stages of the sampling and analytical process. Typically, batches which fail quality control checks are re-analysed.
Independent internal or external verification of significant intercepts is not routinely completed. The quality control / quality assurance (QAQC) process ensures the intercepts are representative for the orogenic gold systems. Half core and sample pulps are retained at Mungari if further verification is required.
The twinning of holes is not a common practice undertaken at Mungari. The face sample and drill hole data with the mill reconciliation data is of sufficient density to validate neighbouring samples. Data which is inconsistent with the known geology undergoes further verification to ensure its quality.
All sample and assay information is stored utilising the acQuire database software system. Data undergoes QAQC validation prior to being accepted and loaded into the database. Assay results are merged when received electronically from the laboratory. The geologist reviews the database checking for the correct merging of results and that all data has been received

Evolution Mining Limited Quarterly Report March 2020	41

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Mungari Section 1 Sampling Techniques and Data

Criteria

Explanation

Commentary

and entered. Any adjustments to this data are recorded

permanently in the database. Historical paper records (where

available) are retained in the exploration and mining offices.

• No adjustments or calibrations have been made to the final

assay data reported by the laboratory.

Location of data

• Accuracy and quality of surveys used

• All surface drill holes at Mungari have been surveyed for

easting, northing and reduced level. Recent data is collected

points

to locate drillholes (collar and downhole

and stored in MGA 94 Zone 51 and AHD.

surveys), trenches, mine workings and

• Resource drill hole collar positions are surveyed by the site-

other

locations

used

Mineral

based survey

department or

contract surveyors (utilising a

Resource estimation.

differential GPS or conventional surveying techniques, with

• Specification of the grid system used.

reference to a known base station) with a precision of less than

0.2m variability.

• Quality and adequacy of topographic

•

Topographic control was generated from aerial surveys and

control.

detailed Lidar surveys to 0.2m accuracy.

Data spacing and

•

Data

spacing

for

reporting

•

The nominal drill spacing for Exploration drilling is 80m x 80m

Exploration Results.

or wider and for Resource Definition is 40m x 40m or in some

distribution

• Whether the data spacing and

areas 20m x 20m.

This spacing includes data that has been

distribution is sufficient to establish the

•

verified from previous exploration activities on the project.

degree

geological

and

grade

Data spacing and distribution is considered sufficient for

continuity appropriate for the Mineral

establishing geological continuity and grade variability

Resource and Ore Reserve estimation

•

appropriate for classifying a Mineral Resource.

procedure(s)

and

classifications

Sample compositing was not applied due to the often-narrow

applied.

mineralised zones.

• Whether sample compositing has

been applied.

Orientation of data in

• Whether the orientation of sampling

• Mineralisation at Boomer is hosted within a narrow, folded,

laminated quartz vein, predominantly dipping 65° towards the

relation to geological

achieves

unbiased

sampling

south-west, with a shallow south-east plunge. The mineralised

structure

possible structures

and

the extent

structure lies within a 35m wide shear zone dipping 70° west.

which

this

known, considering the

Surface and underground drilling intersect the mineralisation at

deposit type.

an angle to minimise bias.

• If the relationship between the drilling

•

Drilling at

the

Wookie prospect is

planned to

intersect the

structure in an orientation that does not introduce sample bias.

orientation and the orientation of key

• Surface holes typically intersect at an angle to the mineralisation

mineralised structures is considered to

and there

observed

bias

associated

with drilling

have introduced a sampling bias, this

orientation.

should be assessed and reported if

•

The relationship between the drilling orientation and the

material.

orientation of key mineralised structures at Mungari is not

considered to have introduced a sampling bias and is not

considered to be material.

• Resource Definition and Exploration drilling is typically planned

to intersect ore domains in an orientation that does not introduce

sample bias. A small number of holes are drilled at sub-optimal

orientations to test for alternate geological interpretations.

Sample security

•

The

measures

taken to

ensure

• Chain of custody protocols to ensure the security of samples are

followed. Prior to submission samples are retained on site and

sample security.

access to the samples is restricted. Collected samples are

dropped off at the respective commercial laboratories in

Kalgoorlie.

The laboratories are contained within a

secured/fenced compound. Access into the laboratory is

restricted and movements of personnel and the samples are

tracked under supervision of the laboratory staff. During some

drill campaigns some samples are collected directly from site by

the commercial laboratory. While various laboratories have

been used, the chain of custody and sample security protocols

have remained similar.

Audits or reviews

• The results of any audits or reviews

• The Mungari geology and drilling database was reviewed by

acQuire in

December 2015

and

no material

issues were

of sampling techniques and data.

identified.

• Oscillating cone splitter has been in use for RC sampling at all

prospects. Data collected has returned more consistent

duplicate sample weights than a standard static cone splitter.

Mungari Section 2 Reporting of Exploration Results

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Mungari Section 2 Reporting of Exploration Results

Criteria		Explanation				Commentary

Mineral tenement and	• Type,	reference name/number,		•	Resource Definition drilling was undertaken on the
land tenure status	location	and	ownership	including			following tenements: M15/1827
	agreements or material issues with third		•	Exploration drilling was undertaken on the following
	parties such as joint ventures,			tenements: M15/0688, 16/532 and E15/961.
	partnerships,	overriding	royalties,		• All tenements are in good standing and no known impediments
	native title interests, historical sites,		exist. Prospecting leases with imminent expiries will have
	wilderness or national park and		mining lease applications submitted in due course.
	environmental settings.

The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence tooperate in the area.

Exploration done by

•

Acknowledgment

and

appraisal of

• Exploration

has been

carried

out

a number

parties

including Electrum Resources

(1985-1989),

Castle Hill

other parties

exploration by other parties.

Resources NL (1989-1996), Goldfields Exploration Ltd (2001)

and Cazaly Resources Ltd (2004-2008). The historical data and

database have been reviewed by Cube and is deemed to be of

acceptable quality for Mineral Resource estimation.

• The initial discovery of Frog's Leg was made by Mines and

Resources Australia Ltd who was a precursor company to La

Mancha Resources Australia Pty Ltd. The deposit was

discovered in 2000 as a result of following up on regional

anomalism identified through rotary air blast (RAB) and aircore

drilling. La Mancha was acquired by Evolution in August 2015.

• Significant historical work has been performed across the

Regional Tenement package by numerous parties since the

original discovery of gold in the region c.1890. Recent

exploration commenced during the 1970's onwards and has

included exploration for base metal and gold mineralisation.

Geology

• Deposit type, geological setting and

• The Greater Picante Trend is located on the eastern margin of

the Kintore

Tonalite,

NE of the

Castle Hill

deposit.

style of mineralisation.

Mineralisation is shear hosted on the contact between the

Kintore tonalite and an ultramafic.

• The Boomer prospect is located in the southern portion of the

Kundana mining area, within the Achaean Norseman-Wiluna

greenstone belt of the Eastern Goldfields Province. The

Kundana gold deposits are structurally related to the Zuleika

Shear Zone, a regional NNW-trending shear zone that

juxtaposes the Ora Banda domain to the east and the

Coolgardie domain to the west. The Boomer prospect is

located on the sheared contact between the Black Flag Group

turbidites and andesites and andesitic volcaniclastic rocks of

Black Flag Group.

Drill hole Information

• A summary of all information material

• Refer to the drill hole information table in the Appendix of this

to the understanding of the exploration

report.

results including a tabulation of the

following information for all Material

drillholes:

o easting and northing of the drillhole

collar

o elevation or RL of the drillhole collar

o dip and azimuth of the hole

o downhole length and interception

depth

o hole length.

Data aggregation

• In reporting Exploration Results,

• Intercept length weighted average techniques, minimum grade

methods

weighting

averaging

techniques,

truncations and cut-off grades have been used in this report.

maximum

and/or

minimum grade

• At Boomer composite grades of > 1 g/t have been reported.

truncations (e.g. cutting of high grades)

• Composite lengths and grade as well as internal significant

and cut-off grades are usually material

values are reported in Appendix.

and should be stated.

• No metal equivalent values are used.

•

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

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Mungari Section 2 Reporting of Exploration Results

Criteria

Relationship between mineralisation widths and intercept lengths

Diagrams

	Explanation		Commentary

	typical examples of such aggregations
	should be shown in detail.
	• The assumptions used for any
	reporting of metal equivalent values
	should be clearly stated.
	• These relationships are particularly		• There is a direct relationship between the mineralisation widths
	important in the reporting of Exploration		and intercept widths at Mungari.
	Results.		• The assay results are reported as down hole intervals however
	• If the geometry of the mineralisation		an estimate of true width is provided in Appendix.
	with respect to the drill hole angle is
	known, its nature should be reported.
	• If it is not known and only the
	downhole lengths are reported, there
	should be a clear statement to this
	effect (e.g. 'downhole length, true width
	not known')
	• Appropriate maps and sections (with		• Drill hole location diagrams and representative sections of
	scales) and tabulations of intercepts		reported exploration results are provided either below or in the
	should be included for any significant		body of this report.
	discovery being reported. These should
	include, but not be limited to a plan view
	of drill hole.

Location plan of drilling at the Picante Trend

Evolution Mining Limited Quarterly Report March 2020

APPENDIX 1 - JORC CODE 2012 ASSESSMENT AND REPORTING CRITERIA

Mungari Section 2 Reporting of Exploration Results

Criteria	Explanation	Commentary

Location plan of drilling at the Boomer project

Balanced reporting

• Where comprehensive reporting of all

• All Exploration and Resource Definition results have been

Exploration Results is not practicable,

reported in the Drill Hole Information Summary in the Appendix

representative reporting of both low and

of this report.

high grades and/or widths should be

practiced to avoid misleading reporting

of Exploration Results.

Other substantive

• Other exploration data, if meaningful

• A substantial Exploration and Resource Definition program is

and material, should be reported

on-going at the Mungari site. Other works include field mapping

exploration data

including (but not limited to): geological

and geophysical surveys.

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

contaminating

substances.

Further work

• The

nature

and scale

planned

• Further Exploration, Near Mine Exploration and Resource

further work (e.g. tests for lateral

Definition work on the Mungari tenements are planned for the

extensions or depth extensions or

remainder of FY20

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 commerciallysensitive.

Evolution Mining Limited Quarterly Report March 2020	45

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Evolution Mining Limited published this content on 23 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 April 2020 23:07:01 UTC

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