Evolution Mining : Denver Gold Forum 2020 Presentation

ASX Announcement

21 SEPTEMBER 2020

DENVER GOLD FORUM PRESENTATION

ABN 74 084 669 036

Sydney Office

1. [phone] F [phone] Level 24

175 Liverpool Street

Sydney NSW 2022

www.evolutionmining.com.au

Evolution Mining Limited (ASX: EVN) advises that Jake Klein, Executive Chairman, is today presenting at the 2020 Denver Gold Forum. The presentation for this virtual event is attached. A video recording of the presentation is also available on Evolution's website www.evolutionmining.com.auunder 'Latest News'.

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

For further information please contact:
Investor Enquiries	Media Contact
Bryan O'Hara	Michael Vaughan
General Manager Investor Relations	Media Relations
Evolution Mining Limited	Fivemark Partners
Tel: [phone]	Tel: [phone]

About Evolution Mining

Evolution Mining is a leading, growth-focused global mid-tier gold miner. Evolution operates five wholly-owned mines - Cowal in New South Wales, Mungari in Western Australia, Mt Carlton and Mt Rawdon in Queensland and Red Lake in Ontario, Canada. The Company also holds an economic interest in the Ernest Henry copper- gold mine in Queensland.

In the 2021 Financial Year Evolution is guiding gold production of 670,000 - 730,000 ounces at an All-In Sustaining Cost of A$1,240 - A$1,300 per ounce.

Evolution Mining Limited

DENVER GOLD FORUM

20 - 23 SEPTEMBER 2020

FORWARD LOOKING STATEMENT

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

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

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

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

This presentation has been approved for release by Evolution's Board of Directors.

AUD:USD exchange rate assumption of 0.725 used throughout this presentation unless stated otherwise.

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EVOLUTION SNAPSHOT

ASX CODE	EVN
MARKET CAPITALISATION (1)	US$7.3B / A$10.1B

Production outlook (koz)

850

770

AVERAGE DAILY TURNOVER(2)	US$51M / A$70M
NET DEBT(3)	US$142M / A$196M

730

670700

790

DIVIDEND POLICY	Payout of 50% of
free cash flow
MINERAL RESOURCES(4)	26.2Moz
ORE RESERVES(4)	7.3Moz
RESERVE PRICE ASSUMPTION	A$1,450/oz
FY21 PRODUCTION GUIDANCE	670 - 730koz
FY21 AISC GUIDANCE(5)	US$920/oz / A$1,270/oz

1. Based on share price of A$5.90 per share on 14 September 2020
2. Average daily share turnover for one month through to 14 September 2020
3. As at 30 June 2020. Bank debt of A$570 million less cash of A$374 million

FY21

FY22

FY23

AISC outlook (US$/oz)

940	930
	860
900	885	815

FY21

FY22

FY23

(4) Further information can be found on our website, www.evolutionmining.com.auor from the ASX releases entitled "Annual Mineral Resources and Ore Reserves Statement" on 12 February 2020; "Cowal Maiden Underground Ore Reserve" on 23 July 2020; and "Red Lake 11 Million Ounce Mineral Resource" on 13 August 2020. Ore Reserves exclude Red Lake

(5) Mid-point of FY21 AISC guidance

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