Evolution Mining FY24 Guidance Update
GROUP RESOURCES & RESERVES AT 31 DECEMBER 2022
(WITH ERNEST HENRY JUNE 2023 ORE RESERVE UPDATE)
Group Mineral Resource - contained copper
Copper
Measured
Indicated
Inferred
Total Resource
Tonnes
Project
Type
Cut-off
(Mt)
Copper
Grade
(%)
CP1
Copper
Metal (kt)
Tonnes
Copper
Copper
Tonnes
Copper
Copper
Tonnes
Copper
Copper
(Mt)
Grade (%)
Metal (kt)
(Mt)
Grade (%)
Metal (kt)
(Mt)
Grade (%)
Metal (kt)
Marsden
Ernest Henry
Total
Total
0.2g/t Au
119.8
0.46
553
3.1
0.24
7
123.0
0.46
560
1
0.7% Cu
26.4
1.36
359
44.0
1.28
565
24.4
1.16
283
94.8
1.27
1,207
2
Total
26.4
1.36
359
163.8
0.68
1,118
27.5
1.06
291
217.7
0.81
1,767
Data is reported to significant figures to reflect appropriate precision and may not sum precisely due to rounding
Ernest Henry Operations reported Mineral Resources are within an interpreted 0.7% Cu mineralised envelope
1. Group Mineral Resources Competent Person (CP) Notes refer to: 1. James Biggam; 2. Phil Micale
Group Ore Reserve - contained copper
Copper
Proved
Probable
Total Reserve
CP4
Project
Туре
Cut-Off
Tonnes (Mt)
Copper
Grade (%)
Copper
Metal (kt)
Tonnes (Mt)
Copper
Grade (%)
Copper
Metal (kt)
Tonnes (Mt)
Copper Grade
(%)
Copper
Metal (kt)
Marsden
Total
0.3g/t Au
65.2
0.57
371
65.2
0.57
371
1
Ernest Henry2,3
Total
0.50-0.75% CuEq
Total
26.5
1.08
287
50.9
0.59
302
77.4
0.76
589
2
26.5
1.08
287
116.1
0.58
673
142.6
0.67
960
Data is reported to significant figures to reflect appropriate precision and may not sum precisely due to rounding
2. Ernest Henry reported Ore Reserve estimate is based on the December 2022 Mineral Resource detailed in the ASX Release titled "Annual Mineral Resources and Ore Reserves Statement" dated 16 Feb 2023 and available to view at
www.evolutionmining.com.au. The applied flow model cut-off grades of 0.50 % and 0.75% copper equivalent ('CuEq') are determined through an economic evaluation process which considers the Net Smelter Return (NSR) and operating costs. The utlised
copper equivalent equation is: CuEq = Cu + Au NSR/56.4 where; Au NSR = 38.5 * Au - 0.04
3. Ernest Henry reported Ore Reserve estimate is depleted to 30 June 2023
4. Group Ore Reserve Competent Person (CP) Notes refer to: 1. Anton Kruger; 2. Michael Corbett
This information is extracted from the releases titled 'Annual Mineral Resources and Ore Reserves Statement' dated 16 February 2023, "Mungari Mine Life Extended to 15 Years at 10 to 20% lower AISC" dated 5 June 2023 and "Ernest Henry Mine Life
Extended to 2040 and Ore Reserves Doubled" dated 5 June 2023 available to view at www.evolutionmining.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the release
and that all material assumptions and parameters underpinning the estimates in the release continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons' findings are presented
have not been materially modified from the Reports
Evolution
MINING
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