Reserves & Resources

MINERAL RESOURCE AND ORE RESERVE STATEMENT - DECEMBER 2021

Gold Resources StatementMeasuredIndicatedInferredTotal Resources 
ProjectTypeCut-OffTonnes (Million)Gold Grade (g/t)Gold Metal (koz)Tonnes (Million)Gold Grade (g/t)Gold Metal (koz)Tonnes (Million)Gold Grade (g/t)Gold Metal (koz)Tonnes (Million)Gold Grade (g/t)Gold Metal (koz)CP
Cowal1Open-Pit0.3524.80.46367207.50.835,55537.30.78929269.60.796,8521
CowalUnderground1.5022.42.471,77613.32.3299135.72.412,7661
Cowal1Total24.80.46367229.90.997,33150.61.181,920305.30.989,6181
Red LakeUnderground3.300.04.20429.77.306,96818.76.664,01348.57.0510,9852
BatemanUnderground2.502.14.933353.04.374225.14.607572
Red Lake3Total0.04.20431.87.147,30321.76.344,43553.66.8211,7422
Mungari1Open-Pit0.4044.31.181,67610.51.3645854.81.212,1343
MungariUnderground1.801.75.3929510.14.261,3879.43.581,08621.24.052,7673
Mungari1Total1.75.3929554.51.753,06319.92.411,54476.12.004,9023
Mt Rawdon1Total0.216.30.3265 27.20.554815.70.468439.20.506304
Ernest Henry2Total13.30.6929432.20.7880825.90.6957271.40.731,6745
MarsdenTotal0.20119.80.271,0313.10.2222123.00.271,0531
Total46.10.691,025495.51.2620,017127.02.108,577668.51.3829,619

Gold Reserves StatementProvedProbableTotal Reserve 
ProjectTypeCut-OffTonnes (Million)Gold Grade (g/t)Gold Metal (koz)Tonnes (Million)Gold Grade (g/t)Gold Metal (koz)Tonnes (Million)Gold Grade (g/t)Gold Metal (koz)CP
Cowal1Open Pit0.4523.90.4635699.70.993,164123.60.893,5201
CowalUnderground1.8014.42.311,06914.42.311,0692
CowalTotal23.90.46356114.11.154,233138.01.034,589
Red Lake3Total4.5013.17.002,93513.17.002,9353
Mungari4Underground4.820.84.891322.64.333653.54.464984
Mungari5Open Pit0.733.01.5414914.21.2958717.21.337365
Mungari1Total3.92.2728216.81.7695220.61.861,234
Mt Rawdon1Open pit0.333.10.394012.60.6426015.70.593006
Ernest Henry2Underground9.80.7724119.20.3521729.00.494597
MarsdenOpen Pit0.3065.20.3981765.20.398178
Total40.70.70919241.01.229,414281.71.1410,333

Copper Resources StatementMeasuredIndicatedInferredTotal Resources
ProjectTypeCut-OffTonnes (Million)Copper Grade (%)Copper Metal (kt)Tonnes (Million)Copper Grade (%)Copper Metal (kt)Tonnes (Million)Copper Grade (%)Copper Metal (kt)Tonnes (Million)Copper Grade (%)Copper Metal (kt)CP
MarsdenTotal0.2119.80.465533.10.247123.00.465601
Ernest HenryTotal0.713.31.2516532.21.2941625.91.1730471.41.248852
Total13.31.25165152.10.6496929.01.07311194.40.741445.

Copper Reserves StatementProvedProbableTotal Reserve 
ProjectTypeCut-OffTonnes (Million)Copper Grade (%)Copper Metal (kt)Tonnes (Million)Copper Grade (%)Copper Metal (kt)Tonnes (Million)Copper Grade (%)Copper Metal (kt)CP
MarsdenTotal0.365.20.5737165.20.573711
Ernest Henry2Total0.79.81.4113919.20.6813029.00.932692
Total9.81.4113984.40.5950194.20.68640

General Notes:

Data is reported to significant figures to reflect appropriate precision and may not sum precisely due to rounding.

Mineral Resources are reported inclusive of Ore Reserves. Estimates undertaken by Evolution include all exploration and resource definition drilling information up to 31 December 2021 and have been depleted for mining to 31 December 2021.

Gold Mineral Resource

  1. Includes stockpiles
  2. Ernest Henry Operations reported Mineral Resources are above a 0.7% Cu cut-off within an interpreted 0.7% Cu mineralised envelope
  3. Red Lake Mineral Resource cut-off is 3.3g/t Au except for Cochenour (3.0g/t Au) and HG Young (3.2g/t Au) deposit
  4. Mungari Underground Mineral Resource cut-offs vary from 1.56g/t Au to 2.61g/t Au per deposit. The average underground cut-off is 1.8g/t Au. The Mungari Mineral Resource estimate excludes the Falcon deposit (142koz) held by the East Kundana Joint Venture (Evolution Mining 51%, Tribune Resources Ltd 36.75% and Rand Mining (12.25%). Information on the Falcon deposit is provided in Northern Star Resources ASX release titled “Strong Growth in Reserves and Resources” dated 3 May 2021 and available to view at nsrltd.com

Gold Ore Reserve

  1. Includes stockpiles
  2. Ernest Henry Operations reported Ore Reserve uses Glencore price assumptions: Gold Price ($US/oz): 1300, Copper Price ($US/t): 6500, Exchange Rate (AU:US): 0.75. December 2021 Ore Reserves reported above 0.7% Cu
  3. Red Lake Ore Reserve cut-off is 4.5g/t Au except for Cochenour and Lower Campbell (4.1g/t Au), HG Young (3.0g/t Au) and Upper Campbell (2.5g/t Au)
  4. Mungari Underground Ore Reserve cut-off is 4.82g/t Au except for Kundana (4.08g/t Au) and Frog’s Leg (2.90g/t Au)
  5. Mungari Open Pit Ore Reserve cut-offs vary from 0.61g/t Au to 0.80g/t Au per deposit. The average open pit cut-off is 0.73g/t Au

This information is extracted from the ASX release entitled “Annual Mineral Resources and Ore Reserves Statement” released to the ASX on 16 February 2022.

 

Group Gold Mineral Resources Competent Person (CP) Notes refer to 1. James Biggam; 2. Jason Krauss; 3. Brad Daddow; 4. Justin Watson; 5. Aaron Meakin (CSA Global)

Group Gold Ore Reserve Competent Person (CP) Notes refer to 1. Dean Basile (Mining One); 2. Joshua Northfield; 3. Brad Armstrong; 4. Peter Merry; 5. Chris Honey; 6. Martin Sonogan; 7. Mike Corbett (Glencore); 8. Anton Kruger

Group Copper Mineral Resources Competent Person (CP) Notes refer to 1. James Biggam; 2. Aaron Meakin (CSA)

Group Copper Ore Reserve Competent Person (CP) Notes refer to 1. Anton Kruger; 2. Michael Corbett (Glencore)

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