R ed Lak e oper a tion Highgrade asset in one of Canada s most prolifc gold district F A CT SHEET ALL IN SUS T AINING CO ST FY18 PRODUCTION 200k o z US1 000 o z www evolutionminingcom Evolution Mining is a leading growth focused Australian gold company In FY19 Evolution produced 756001 ounces of gold at an AISC of A924 per ounce to reach eight consecutive years of achieving production guidance Evolution has guided FY20 Group gold production of around 725000 ounces at an Allin sustaining cost AISC of A940 A990 per ounce of gold The Red Lake operation is an undercapitalised asset with signifcant turnaround opportunity and has outstanding exploration opportunity for historical head grades of 20gt gold Our objective for Red Lake is to become a cornerstone asset with annual production in excess of 200koz per annum at an AISC below US1000 per ounce Location W estern Ontario Canada approximately 535km northwest of Thunder Bay Producing Gold Management Owner operator Mine Site contact number 1 807 735 2077 The operation transaction was completed on 31 March 2020 and is situated on one of the largest highest grade gold camps in North America with a 457km 2 land package in a highly prospective district Evolution Mining is committed to a US50 million exploration expenditure over three years with a planned drill program of 100000 metres per annum Evolution Mining has identifed signifcant upside at Red Lake Campbell and Cochenour complexes along with excellent long term regional potential to grow the current Resource base The highest priority targets include Cochenour Upper Main Zone and INCO Red Lake A viation complex HG Y oung W e are also committed to a three year US100 million investment phase to recapitalise asset increase mining rates reduce costs and restore asset to proftable production The Mineral Resources and Ore Reserves support a current 13 year Life of Mine Plan Summary High grade long life gold mine in Canada s most prolifc gold district W e have committed to invest US100 million on existing operations and an additional US50 million in exploration at Red Lake over the frst three years Planned operational improvements include I mproved drill and blast practices to increase mining recovery and reduce dilution Improve mining feet efciency and efectiveness Rationalisation of material movement THREE YEAR OBJECTIVE