Evolution Mining FY24 Guidance Update
ERNEST HENRY TOTAL ORE RESERVE AT JUNE 2023
Evolution
MINING
Proved
Probable
Project
Cut-off (flow Tonnes
Copper
Copper
Tonnes
Copper
model)
(Mt)
Grade (%)
Metal (kt)
(Mt)
Grade (%)
Copper
Metal (kt)
Tonnes
(Mt)
Total Ore Reserve
Copper
Grade (%)
Copper
Metal (kt)
Ernest Henry
(Base)
0.75 CuEq
17.6
1.07
189
15.2
0.58
87
32.7
0.84
276
Ernest Henry
(Extension)
0.50 CuEq
9.0
1.10
99
35.7
0.60
214
44.7
0.70
313
Total
26.5
1.08
287
50.9
0.59
302
77.4
0.76
589
Proved
Probable
Total Ore Reserve
Project
Cut-off (flow
model)
Tonnes
(Mt)
Gold
Grade (g/t)
Gold Metal
Tonnes
(koz)
(Mt)
Gold
Grade (g/t)
Gold Metal
(koz)
Tonnes
(Mt)
Gold
Grade (g/t)
Gold Metal
(koz)
Ernest Henry
0.75 CuEq
17.6
0.57
324
15.2
0.30
148
32.7
0.45
472
(Base)
Ernest Henry
0.50 CuEq
9.0
0.70
203
35.7
0.38
434
44.7
0.44
637
(Extension)
Total
26.5
0.62
527
50.9
0.36
582
77.4
0.45
1,109
Data is reported to significant figures to reflect appropriate precision and may not sum precisely due to rounding
The 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
Level footprints are designed to align with Domain 7 (0.70 % Cu), which defines the Mineral Resource, while also maintaining a geometry amendable to caving.
The cut-off (shut-off) grades of 0.75 % CuEq and 0.50 % CuEq, as applied in the cave flow model software, are determined through an economic evaluation process.
The utlised copper equivalent equation is: CuEq = Cu + Au NSR/56.4 where; Au NSR = 38.5 * Au -0.04
Ernest Henry Ore Reserve Competent Person is Michael Corbett
This information is extracted from the release titled 'Ernest Henry Mine Life Extended to 2040 and Ore Reserves Doubled" dated 5 June 2023 and 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
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