EVOLUTION MINING LIMITED — Board/Management Information 2008

Sep 11, 2008

==> picture [587 x 56] intentionally omitted <==

==> picture [587 x 57] intentionally omitted <==

12 September 2008

CATALPA RESOURCES APPOINTS CFO

Bruce McFadzean, Managing Director of Perth-based Catalpa Resources (ASX:CAH), today announced the appointment of Erik Palmbachs as the Company’s Chief Financial Officer with effect from 20[th] October 2008.

Mr Palmbachs is an experienced CFO and holds an MSc in Mineral Economics and a Bachelor of Business (Accounting). He is a member of the Australian Society of Accountants (AASA, CPA) and has an impressive resume with over 30 years hands-on experience, much of which was gained in the resources sector.

ASX Code: CAH

Capital Structure

Total number of shares: On issue: 345,377,313 Share Price Current: (11 Sept 2008) $0.045 (Market cap changes according to share price) 12 month range: $0.075 (high) - $0.038 (low)

Board of Directors

Mr Palmbachs was formerly the Chief Financial Officer at Territory Resources Limited.

“Erik joins us at an exciting time in our company’s growth cycle,” Mr McFadzean said.

“We are on the cusp of a new phase of development utilising our Edna May (gold) project as a launching pad for growth.

“Erik’s experience and proven track record in overseeing the financial aspects of systems, project development, discovery and acquisition of resources is an important skill set to benefit Catalpa in our journey towards becoming a mid-tier producer,” Mr McFadzean said.

“We see Erik making a significant contribution in the financing and funding strategy of Catalpa over the coming months, and also in terms of Catalpa’s strategy to review other regional opportunities for acquisition and/or joint venture,” Mr McFadzean added.

“Catalpa’s Board and management team are currently focussed on moving the Edna May (gold) project towards production and Erik’s appointment is an indication of our commitment towards achieving this goal.

“We are very pleased to have attracted someone with Erik’s experience and skill set to Catalpa Resources and we are delighted that Erik shares our confidence in Catalpa’s assets and the future of the Company,” Mr McFadzean concluded.

Mr John Rowe: Chairman Mr Bruce McFadzean: Managing Director Mr Murray Pollock: Non Exec Director Mr Barry Sullivan: Non Exec Director Mr Chris Melloy: Non Exec Director Mr Nigel Johnson: Non Exec Director Mr Graham Anderson: Company Secretary Mr Leonard Math: Company Secretary

Major Shareholders

Major Shareholders
Lion Selection Group Limited	44.04%
Goldrich Holdings Zero Nominees	4.05% 2.57%
HSBC Custody Nominees Aus.	2.03%
Charlemagne Investments	1.35%
Drummond Shay Margaret	1.16%
Geddes Angus William	0.88%
ANZ Nominees Limited	0.78%
Pretorius Leon Eugene	0.58%

ENDS

==> picture [568 x 69] intentionally omitted <==

==> picture [587 x 56] intentionally omitted <==

==> picture [587 x 57] intentionally omitted <==

ABOUT CATALPA RESOURCES

Perth-based Catalpa Resources Limited (ASX: CAH) aims to become Australia’s next mid tier producer by developing its open pit assets, located on its extensive and wholly-owned mining tenements in Western Australia.

Catalpa is on the cusp of a new phase of development towards production at its Edna May (gold) Project, conveniently positioned a few kilometres from the infrastructure of Westonia, an established town with a long mining history. The project is just 3 hours or 300km by road from Perth; half way between Perth and Kalgoorlie and ideally situated to be serviced by both centres.

Notably, there have been three previous successful mining programs which have occurred both above and below the planned open pit at Edna May, which significantly reduces the risk of Catalpa’s current project.

Catalpa has an experienced and innovative Board and management team that is committed to realising a timely production and cash flow profile from the development of the Edna May open pit resources.

This is the company’s immediate strategy; and an update to the Company’s 2006 Edna May Gold Project Feasibility Study is on schedule to be finalised in the September quarter 2008. In preparation for planned production at Edna May, the Company relocated its 2.8mtpa Big Bell mill to site in 2007. The mill is being maintained ‘ready for construction’ adjacent to the proposed plant construction site.

Catalpa is pursuing parallel growth with a renewed exploration programme underway of its 800km² of under-explored Westonia Greenstone Belt, and is reviewing other regional opportunities for acquisition and/or joint venture. In particular, Catalpa seeks to identify and develop new projects and/or acquisitions on its extensive land holding or within the region, which is prospective for gold, nickel and base metals.

Catalpa has a sound Resource base at Edna May with significant upside to grow resources and reserves and move towards production. With a buoyant outlook on the gold price, the Company’s Board believes that Catalpa Resources presents a sound investment opportunity with significant upside potential.

Catalpa Resources has adopted best practice standards across all its operating activities, including its social, health and safety, environmental management and corporate governance functions.

For further enquiries contact:

Bruce McFadzean Warrick Hazeldine / Annette Ellis Managing Director Media and Investor Relations Catalpa Resources Limited Purple Communications Tel (08) 9321 3088 Tel: (08) 9485 1254

==> picture [568 x 69] intentionally omitted <==