Triple Flag International will fund US$84.3 million in Q4 2026 to develop the high-grade gold-dominant E44 open pit deposit at Northparkes. In exchange, Triple Flag secures rights to purchase 20% of payable gold and 30% of payable silver at 10% of the spot price for each ounce.

Evolution has committed to minimum deliveries totaling 45,052 ounces of gold and 446,200 ounces of silver from the E44 deposit between 2030 and 2037. These guaranteed volumes are secured against the new stream and are in addition to Triple Flag's existing stream obligations.

Evolution has approved block cave development of the gold-rich E22 deposit and initiated a study to expand Northparkes mill capacity from 7.5 Mtpa to at least 10 Mtpa. These initiatives aim to leverage the broader mine's copper, gold, and silver resources within the 1,000 km² stream area.

On a 100% basis, the E44 resource comprises 8.7 million tonnes grading 1.34 g/t gold, equating to 0.38 million ounces in the measured and indicated category. The gold-dominant nature and high grades present significant upside beyond Northparkes' current 0.28 g/t reserve grade.