Evolution Mining Limited announced Continued Exploration Success at Ernest Henry. New drillholes as part of the ongoing Ernest Henry exploration program have intersected significant mineralisation widths below and within the Pre-Feasibility Study (PFS) mine life extension area and include: 118.1m (60m etw) grading 0.79g/t gold and 1.15% copper (EH1226_EXT_D7). 20.4m (17.9m etw) grading 1.69g/t gold and 2.16% copper (EH1226_EXT_D5).

Results confirm that strong mineralisation exists below the PFS area, indicating significant potential for mining beyond the current study. As a result, a decision has been made to extend the PFS to incorporate the larger footprint in determining the optimal location of infrastructure with this work expected to be completed in the June quarter. Continuity of mineralisation within the PFS extension area has been confirmed with the first two drillholes (out of eight planned holes) intersecting mineralisation outside the current interpretation.

Evolution has met the earn-in expenditure to acquire a 75% interest in the Cue Joint Venture. The latest surface drillholes targeting depth extensions to interpreted mineralisation below the Pre-Feasibility Study (PFS) area have confirmed the mineralisation widths seen in previously reported hole EH1226_EXT_D6 and have also defined the top of the mineralised zone. Complementary to this, resource definition drilling within the PFS area has confirmed both up-plunge and down-plunge extensions to interpreted mineralisation.

Assay results from EH1226_EXT_D7 have been returned, confirming significant mineralisation widths observed in EH1226_EXT_D6. Encouragingly, these intersections lie outside the current mineralisation interpretation and below the PFS area. Whilst the copper and gold grades in EH1226_EXT_D7 are not as strong as those in EH1226_EXT_D6, the width of mineralisation intersected in this drillhole increases the likelihood that mineralisation continues well below at depth.

EH1226_EXT_D7 has returned 118.1m (60m etw) grading 0.79g/t gold and 1.15% copper. Assay results for EH1226_EXT_D5 were also returned in December, which intersected the top of the same mineralised zone intersected in EH1226_EXT_D6. EH1226_EXT_D5 intersected 20.4m (17.9m etw) grading 1.69 g/t gold and 2.16% copper.

The first two drillholes designed to test the up and down-plunge continuity of mineralisation have been completed with samples dispatched and awaiting assay. Geological observations from these drillholes (EH1312 and EH1314) confirm extension of mineralisation up-plunge (from EH1226_EXT_D6 and EH1226_EXT_D7) and down-plunge extensions from Ernie Junior. The volume of mineralisation within the PFS area will likely increase as a result of these intersections, with a further six drillholes yet to be completed.