UNDERCAPIT ALISED A S SET WITH SIGNIFICANT TURNAROUND OPPORTUNITY Miner al R esour c es June 18 Or e R eserv es June 18 7 0 M oz 1 19 4Mt 112g t gold 2 1Mo z 1 9 2Mt 7 0g t gold The Red Lake operation is an underground mine operating in three diferent historical mining complexes Red Lake Campbell and Cochenour All three complexes are interconnected underground Access is through three shafts Cochenour Reid and No 3 The primary mining method is sublevel open stoping along with traditional and modifed A voca methods Ore and waste is moved via internal passes trams and ramp trucking Ore is hoisted to surface through two diferent production shafts Reid and 3 Shaft V entiliation is a pushpull system consisting of 4 intake and 5 exhaust fans and 15 underground booster fans Mining dates back as far as 1939 at the Cochenour deposit and the current Red Lake Gold Mines organisation dates to the 2006 acquisition of the Campbell mine by Goldcorp Mining is carried out with a companyowned feet of mining equipment supplemented by contractor production drills Evolution s planned operational improvements include Improved drill and blast practices to increase mining recovery and reduce dilution Improve mining feet efciency and efectiveness Rationalisation of material movement Mining 1 Mineral Resources and Ore Reserves of Red Lake are taken from Goldcorp s Mineral Resources Ore Reserves Update as at 30 June 2018 which was released by Goldcorp on 22 February 2019 and is available on www sedar com Those Mineral Resources and Ore Reserves have been prepared using the Canadian NI 43101 Standards and are not JORC compliant for example under NI 43101 Mineral Resources are reported inclusive of Ore Reserves Evolution expects that when it re certifes Red Lake Mineral Resources and Ore Reserves following completion of the transaction Ore Reserves will be revised 30 to 40 lower using Evolution s estimation methodology and to allow for mining depletion from 1 July 2018