Evolution Mining Limited (ASX: EVN) ('Evolution') advises that the sale of the Cracow gold mine to Aeris Resources Limited (ASX: AIS) ('Aeris') has successfully completed.

Evolution has received the A$60 million upfront cash payment from Aeris. The sale agreement also includes an additional A$15 million cash payable on 30 June 2022 and up to A$50 million contingent consideration payable in the form of a 10% net value royalty, based on gross revenues less C1 direct cash costs, in relation to any gold produced at Cracow in the five-year period from 1 July 2022 to 30 June 2027.

This announcement has been authorised for release to the ASX by Executive Chairman, Jake Klein.

Contact:

Bryan O'Hara

Tel: +61 2 9696 2900

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