EVOLUTION MINING LIMITED — Capital/Financing Update 2010

Mar 10, 2010

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MARKET RELEASE

11 March 2010

Catalpa Resources Limited

TRADING HALT

The securities of Catalpa Resources Limited (the “Company”) will be placed in pre-open at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in pre-open until the earlier of the commencement of normal trading on Tuesday, 16 March 2010 or when the announcement is released to the market.

Security Code: CAH CAHO CAHOB

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Matthew Foy Senior Adviser Issuers (Perth)

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12 March 2010

Mr Matthew Foy ASX Limited Exchange Plaza 2 The Esplanade PERTH WA 6000

Dear Matthew,

RE: Request for trading halt

Pursuant to Listing Rule 17.1, Catalpa Resources Limited ( Catalpa ) requests a trading halt be granted by the ASX from the commencement of trading on the 12 March 2010, with respect to the following securities:

• i. Catalpa fully paid ordinary shares (ASX code: CAH);

• ii. Catalpa options expiring June 2010 (ASX code: CAHO); and

• iii. Catalpa options expiring October 2011 (ASX code: CAHOB).

In accordance with Listing Rule 17.1, Catalpa advises:

• (a) the trading halt is requested pending an announcement by Catalpa in relation to debt restructuring and capital raising ( Transaction );

• (b) Catalpa requests the trading halt to remain in place until it makes an announcement in relation to the Transaction on or before commencement of trading on 16 March 2010; and

• (c) Catalpa is not aware of any reason why the trading halt should not be granted.

Yours sincerely

Leonard Math

Company Secretary Catalpa Resources Limited

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