Red Lake (100% Ownership)

Red Lake – a cornerstone Evolution asset being restored into a premier Canadian gold mine

The Red Lake operation is an underground gold mine in north western Ontario and is situated in one of the highest grade Archean gold camps in Canada. Acquired in April 2020, an operational transformation plan is underway to restore Red Lake to a premier Canadian gold mine. 

In our first year of ownership, Red Lake produced 126,339 ounces of gold at an AISC of A$2,044 per ounce which was within both production and cost guidance. The three year transformation program at Red Lake is well underway to restore the operation’s production to above 200,000 ounces per annum at an AISC of less than US$1,000 per ounce.

Construction of the Campbell Young Dickinson (CYD) Decline box cut is progressing well with first development to commence in the September 2021 quarter. This decline will provide independent access to the Upper Campbell
and HG Young ore bodies where 4.8 million ounces of Red Lake’s 11 million ounce Mineral Resource estimate is situated.

On 20 May 2021 Evolution announced the completion of the Battle North Gold acquisition which will enable growth plans to be accelerated at Red Lake. With the acquisition of Battle North Gold the Board has also approved an
accelerated plan to deliver in excess of 350,000 lowcost ounces per annum at Red Lake within five years.
The acquisition also provides the opportunity to build on our track record as a safe and sustainable operator for the long-term benefit of a broad range of stakeholders including the local workforce, regional communities and
our Wabauskang and Lac Seul First Nation Partners.
The consolidated operation will consist of the Lower Red Lake, Upper Campbell, Cochenour and McFinley mining areas that will provide ore to the Campbell, Red Lake and Bateman mills with a total processing capacity target of two million tonnes by FY26.

Video: Red Lake overview

Scroll to Top

Disclaimer

Please note that you are now entering a website directly or indirectly maintained by a third party (the “External Site”) and that you do so at your own risk.

Evolution Mining LTD., (“EVN”) has no control over the External Site, any data or other content contained therein or any additional linked websites. The link to the External Site is provided for convenience purposes only.

By clicking “Accept” you acknowledge and agree that neither EVN nor third party provider Virtua Research, Inc. (“Virtua) is responsible, or accepts or assumes any responsibility or liability whatsoever for, the content, the data or the technical operation of the Linked Site. Further, by entering the External Site, you also acknowledge and agree that you completely and irrevocably waive any and all rights and claims against EVN and Virtua and further acknowledge and agree that in no event shall EVN or Virtua, its officers, employees, directors and agents be liable for any (i) indirect, consequential, incidental, special, compensatory or punitive damages, (ii) damages for loss of income, loss of business profits, business interruption, loss of data or business information, loss of or damage to property, (iii) claims of third parties, or (iv) other pecuniary loss, arising out of or related to this disclaimer or the External Site

By entering the External Site, you further acknowledge and agree that the disclaimer of warranties and limitations of liability set out in this disclaimer shall apply regardless of the causes, circumstances or form of action giving rise to the loss, damage, claim or liability, even if such loss, damage, claim or liability is based upon breach of contract (including, without limitation, a claim of fundamental breach or breach of a fundamental term), tort (including, without limitation, negligence), strict liability or any other legal or equitable theory, and even if EVN and Virtua are advised of the possibility of the loss, damage, claim or liability. The waiver and release specifically includes, without limitation, any and all rights and claims pertaining to the processing of personal data, including but not limited to any rights under any applicable data protection statute(s).

If in any jurisdiction, any part of this disclaimer is held to be unenforceable by a court of competent jurisdiction, such part of this disclaimer shall be restricted or eliminated to the minimum extent and the remaining disclaimer shall otherwise remain in full force and effect.

Please note the information presented is deemed representative at the time of its original release. Changes in historical information may occur due to adjustments in accounting and reporting standards & procedures.

Non-IFRS Information

In addition to disclosing results determined in accordance with IFRS, EVN may also disclose certain non-IFRS and pro forma non-IFRS results of operations, including certain ratios, operational and miscellaneous data, as well as net income, diluted earnings per share, operating expenses, and operating income that make certain adjustments or exclude certain charges and gains that are outlined in the schedules included in this website. Management believes that this non-IFRS and pro forma non-IFRS information provides investors with additional information to assess EVN operating performance by making certain adjustments or excluding costs or gains and assists investors in comparing our operating performance to prior periods. Management uses this non-IFRS and pro forma non-IFRS information, along with IFRS information, in evaluating its historical operating performance. EVN and Virtua also take no responsibility for third party pricing data provided for informational purposes and certain ratio results formulated from the provided third party pricing data.

The non-IFRS information is not prepared in accordance with IFRS and may not be comparable to non-IFRS information used by other companies. The non-IFRS information should not be viewed as a substitute for, or superior to, other data prepared in accordance with IFRS.