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Media Release / ASX Announcement
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ASX Codes

12 May 2011

Shares: CAH Options: CAHOB

Shares on issue: 178,014,015 Share Price Current:

A$1.36 (11 May 2011)

12 month range: A$2.27 (high) - A$1.36 (low) Market Capitalisation: A$242 million

PRESENTATION BY BRUCE McFADZEAN, MANAGING DIRECTOR AND CEO

Catalpa Resources Limited (ASX:CAH) is pleased to provide a presentation given by Bruce McFadzean, Managing Director and CEO, at the RIU Sydney Resources Round Up Conference, 11 to 13 May 2011.

Board of Directors

Mr Peter Maloney Non-executive Chairman Mr Bruce McFadzean Managing Director and CEO Mr John Rowe Non-executive Director Mr Barry Sullivan Non-executive Director Mr Graham Freestone Non-executive Director Mr Murray Pollock Non-executive Director

Senior Management

Mr Erik Palmbachs Chief Financial Officer and Company Secretary Mr Stuart Pether Chief Operating Officer Mr Nick Winnall Manager Exploration Mr Adrian Pelliccia Manager Business Development Mr John Winterbottom Manager Geology Ms Raelene Wyatt Manager HR Mr John Fraser General Manager - Edna May

For further enquiries contact:

Bruce McFadzean Managing Director and CEO Catalpa Resources Limited Tel +61 8 6216 9700

Adrian Pelliccia Manager Business Development Catalpa Resources Limited Tel +61 8 6216 9700

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RIU Sydney Resources Round Up Sydney, 11 to 13 May 2011

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Disclaimer

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The information contained in this presentation is not financial product advice. The presentation is for information purposes and is of a general and summary nature only. It does not constitute an offer. Catalpa Resources Limited (Catalpa) gives no warranties in relation to the statements and information in this presentation. Investors should seek appropriate advice on their own objectives, financial situation and needs. This presentation contains certain statements which may constitute “forward-looking statements”. Such statements are only predictions and are subject to inherent risks and uncertainties which could cause actual values, performance or achievements to differ materially from those expressed, implied or projected in any forward-looking statements.

Catalpa disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. Investors are cautioned that forward-looking statements are not guarantees of future performance and investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

This presentation does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in Catalpa nor shall it or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or commitment or investment decision relating to any securities in Catalpa. Any decision regarding any proposed subscription for securities in Catalpa must be made solely on the basis of information on Catalpa that is publicly available.

Outline

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Item

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Company Overview Edna May Gold Operations Cracow Gold Operations Investment Summary Appendix

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Company Overview

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Corporate Snapshot

ASX Code CAH ASX Top 300 ASX Market Cap[(1)] A$245 million Shares 178 million Options[(2)] 14 million Cash & Bullion[(3)] A$43 million Debt[(3) ] A$55 million Producing operations Two gold mines Forward Sales[(1)] 301,600 ounces at A$1,572/ounce FY2012 C1 Cash Costs[(4)] A$815-890/ounce Mineral Resources[(5)] 2.1 million ounces Ore Reserves[(5)] 1.0 million ounces

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Register Composition Institutions and Funds Retail Management

(1) As at ASX market close 9 May 2011
(2) Exercise price A$0.83 – A$1.69 (3) As at 31 March2011

(4) C1 cash cost represents the cost for mining, processing and administration, including accounting movement of stockpiles and gold in circuit. It does not include costs for exploration, mine development, royalties or processing mill capital works. It includes net proceeds from by-product credits. (5) Depleted as at 31 December 2010

Delivering Shareholder Value

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FY2008 FY2011
Under-valued Apply new
Asset strategy Delivering on Five Year
Strategic Growth Plan
Reserve
Reserve
1,020,000
540,000 ounces ounces Shareholder Value
Two Year Share Price Growth
A$20 million A$245 million [1]
Market Cap Market Cap $2.50
$2.00
No Mine Two Mines
$1.50
$1.00
$0.50
Source – IRESS $0.00
1 As at 9 May2011
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Delivering Shareholder Value	Delivering Shareholder Value	Delivering Shareholder Value	Delivering Shareholder Value
	80,000
	70,000			68,041
	60,000
Ounces	30,000 40,000 50,000	27,536		45,024
	20,000	9,808
	10,000	17,728		23,017
	-
		FY2010		FY2011
		Cracow (30%)	Edna May

Consolidated gold production of 68,041 ounces FY2011 to date

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Resource Growth Driven By Exploration Success Group Resource Growth

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Annual Growth Rate: ~ 17%
2,500
2,000
1,500
Open
1,000
500
Open
0
CY2007 CY2008 CY2009 CY2010
Open
Ounces ('000s)
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Significant growth potential at under-explored historic gold operations

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High Grade, High Value

Group Ore Reserve Growth

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1200
Annual Growth Rate: ~ 25%
1000
800
600
400
200
0
Year
2007 2008 2009 2010
Ounces ('000s)
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Edna May Gold Operations

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Location – Edna May Gold Operations

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300km from Perth, 300km from Kalgoorlie and 45km from Merredin

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2km from township Westonia which is the location of the mine village and shared use of recreational and emergency facilities

10km from Great Eastern Hwy and Trans-Australia railway line Access to grid power, scheme water and fibre optic cable to site

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Local Geology – Edna May Gold Operations

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Hanging Wall Greenfinch
8% Reserve
Ultramafic
ounces
Edna May
88% Reserve
ounces
Golden Point
4% Reserve
ounces
Edna May
Gneiss
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Edna May – Snapshot

Mine Life: Nine years Low Strip ratio: 2:1 Ore Reserves: 1.0m ounces Mineral Resources: 1.8m ounces Plant Capacity: 2.8mtpa Plant Recovery: 91.5% Location: Western Australia

Edna May Gold Production

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20,000
18,000
16,000
14,000 17,148
12,000 14,463
13,413
10,000
8,000
9,808
6,000
4,000
2,000
0
Jun 2010 Qtr Sep 2010 Qtr Dec 2010 Qtr Mar 2011 Qtr
Ounces Produced
Ounces
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Edna May – Highlights

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Gold production of 55,000 ounces since first gold pour

Production

Production ramp-up September quarter 2011
Gold production delivered into hedge book at A$1,557/ounce

Plant Performance

Plant ramping up to nameplate 2.8Mtpa
3.2mtpa plant upgrade planned in-line with BFS

Reconciliation

Resource and grade control models reconcile within 0.1g/t of gold production
High grade underground Mineral Resource of 660,000t @ 9.1g/t for 195,000 ounces - Targeting high grade ore delivery 2012

Resource Growth

Resource definition drilling success - new high grade zones defined,
broad high grade mineralisation identified 7.07m @ 25.5g/t gold , 4.93m @ 33.3g/t gold, 8.4m @ 19.2g/t gold and 12.20m @ 7.5g/t gold

Opportunities

Tungsten recovery - potential for >A$50/ounce cost benefit through tungsten credit and improved gold recovery
Regional acquisition and growth opportunities continue to be assessed

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Edna May Operations - Mining

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2 x Open Pits – Edna may and Greenfinch 1 x EX1900 and 7 x Cat 100t trucks 26.9Mt @ 1.1 g/t for 940koz Ancillary equipment 2.1:1 strip ratio Mining capacity of 10-12Mtpa

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Edna May Operations - Processing

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Refurbished Placer Plant from Big Bell 2.8Mtpa Throughput 2kw SAG Mill and 3.7kw Ball Mill Gravity circuit with approx 45% rec 10,600m [3] leach and adsorption capacity

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Pressure Zadra elution circuit Tailings Thickener PSA Oxygen plant Desalination water plant

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Edna May Operations Progress Wall failure - corrected

Upper oxide level only North wall only Delayed access to ore Wall complete Minimal LOM impact SAG liner wear - optimised BFS assumption 3 months Currently 14 weeks with upside Water supply - improved Thickener commissioned New bore field drilled Adsorption tank agitators – replacement in progress Unusual failure Slurry within design assumptions New agitators being installed Subject to insurance claim

Edna May North Wall

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minimal cut back volume

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North Wall Stabilised April 2011

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30 wall angle

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Recent Operational Performance

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Edna May Gold Production

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20,000
18,000
16,000 17,148
14,000
14,463
13,413
12,000
10,000
8,000
9,808
6,000
4,000
2,000
0
Jun 2010 Qtr Sep 2010 Qtr Dec 2010 Qtr Mar 2011 Qtr
Ounces Produced
Ounces
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Gold production of 55,000 ounces since first gold pour

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Edna May Delivering Production Growth

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Resource Growth

A$5m accelerated resource expansion drill programme 2011 planned at the high potential, under-explored Edna May, Golden Point and Greenfinch gold corridors

High Grade Underground Potential

Infill drilling 2011 – 2 drill rigs
Mineral Resource update May 2011
Underground mining studies commenced targeting high grade ore delivery 2012

Plant Throughput & Reliability

A$3.9m tailings thickener and A$0.6m fine carbon screen commissioned
Plant optimisation and mill upgrade studies underway (planned BFS upgrade to 3.2mtpa)
Plant reliability and critical spares review

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Edna May – Fast Growing, Strong Potential

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Mid Tier Gold Producer

2008 2008 2009 2009 2009 2009 2010 2010 2011 Edna May Changed A$65M Raised Commence Merger with First gold Maiden Underground Feasibility name to Debt and A$40M A$92M plant Lion and Share pour Underground study Update Catalpa Hedge Capital construction Restructure Resource commences A$15M Resources market cap

Target Exploration Upside Target Target

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Edna May Long Section

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Edna May Drilling Success

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Confirmed high-grade gold continuity of mineralisation beneath Edna May open pit
Identified new high-grade zones in hanging wall of Edna May Gneiss
Accelerated • Identified broad zones of high-grade gold mineralisation
Drilling including; 7.07m @ 25.5g/t gold, 12.20m @ 7.5g/t gold, 3.93m @ 33.3g/t gold, 8.4m @ 19.2g/t gold
Programs
Results anticipated to improve Mineral Resource confidence to the Indicated category in a portion of target area
Mineralisation remains open at depth, down dip and along strike

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Recent Exploration Results

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Drilling intersections confirming high grade continuity Mineralisation remains open at depth, down-dip and along strike

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The Edna May Underground Opportunity Indicative Timetable to High Grade Ore Production

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	Edna May Underground Potential - Indicative Timetable	Edna May Underground Potential - Indicative Timetable	Edna May Underground Potential - Indicative Timetable	Edna May Underground Potential - Indicative Timetable	Edna May Underground Potential - Indicative Timetable	Edna May Underground Potential - Indicative Timetable	Edna May Underground Potential - Indicative Timetable	Edna May Underground Potential - Indicative Timetable	Edna May Underground Potential - Indicative Timetable

	2010		2013 2011 2012
UG Evaluation Maiden UG Resource Stage 1 Edna May Infill Drilling Stage 2 Edna May Infill Drilling Stage 3 Edna May Infill Drilling Edna May Deeps Drilling Greenfinch Drilling Mineral Resource Udate Sept Qtr		Dec Qtr Mar Qtr	Jun Qtr Sept Qtr In Progress In Proress In Pro		Dec Qtr Mar Qtr gress	Jun Qtr	Sept Qtr	Dec Qtr	Mar Qtr
p UG Mining Study Ore Reserve Estimate Borefield Establishment Decline Rehabilitation UG Infill Drilling Trial Mining and UG Dev Ramp up UG Ore Production Full Scale Production			g In Pro	gress

Full scale production ramping Edna May output to 140,000+ ounces p.a.

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Cracow Gold Operations

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Cracow – Snapshot

Mine Life: >two years

30% owned – Joint Venture with Newcrest

Mineral Resources (100%): 930,000 ounces

Ore Reserves: (100%) 190,000 ounces

Plant Capacity: 550,000tpa Plant Recovery: 92%

Location: Queensland, Australia

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Cracow Gold Production

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9,000 $700
8,000 $650
8,466
7,000 7,727 7,794 7,496 $600
$550
6,000
6,437
$500
5,000
$450
4,000
$400
3,000
$350
2,000 $300
1,000 $250
0 $200
Mar 2010 Jun 2010 Sep 2010 Dec 2010 Mar 2011
Ounces Produced 30% Cash Cost/oz
Ounces
A$ per ounce
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Cracow – Highlights

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Consistent gold production with 39,000 ounces CAH attributable since
Production Newcrest JV
- Cash operating costs in line with guidance A$570 to A$530/ounce
Plant Performance Plant upgraded to 550,000tpa March quarter 2011
- Accelerated A$11.3m exploration programme targeting high grade epithermal gold mineralisation to increase Mineral Resource and Ore Reserves to support five year mine plan
- Resource growth set to exceed mine depletion
Resource Growth • Exploration success with the extensions to the western epithermal field by several hundred metres to the south
- Exploration success at the historic Golden Plateau mine with the intersection of 7m @ 5.9 g/t gold
Drill results in line with expectations within Kilkenny and Empire shoots with best intersections including, 6.8m @ 25.0 g/t gold and
Resource Definition 36.6m @ 8.0 g/t gold
- Potential for additional shoot at Kilkenny; 1.2m @ 68g/t gold

Note: C1 Cash Cost represents the cost for mining, processing and administration, including accounting movements for stockpiles and gold-in-circuit. It does not include costs for exploration, mine development, royalties or processing mill capital works. It includes net proceeds from by-product credits.

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Cracow – Projects and Targets Large 2M ounce epithermal system

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Cracow – Recent Infill and Exploration Results

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SCHEMATIC LONG SECTION
2010 CRACOW
(looking west) RESOURCE [(1)]
4.8Mt @
Surface
6.6 g/t Au
SOUTH NORTH
1.0 Moz Au
PHOENIX
KILKENNY
500m
TIPPERARY KKU064
18m @ 5.5g/t Au
KKU096
KKU087 11m @ 6.7g/t Au 19m @ 5.3g/t Au
KKU094 8.1m @ 10.7g/t Au
KKU099 4.6m @ 25g/t Au
KKU104 9m @ 8.5g/t Au
KKU108 15m @ 5.8g/t Au
KKU109 24m @ 8.0g/t Au
KKU114 9.5m @ 10g/t Au
Exploration
Target
KKU070
1,000m 250 m 1.2m @ 68g/t Au 6000mN
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NOTE: (1) refer Newcrest Resource and Reserves statement, 2010. Resource figures quoted on 100% basis.

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2005 – Discovered
Kilkenny Structure 2009
2002 –
1995 – Newcrest and 2001 – Discovered Encouragement
Sedimentary form 70/30 JV to Discovered along strike
explore Cracow Field Crown Shoot Sovereign, 2008 Kilkenny (south) of Kilkenny 2010 – Golden
targeting epithermal 1999 – Empire & Phoenix Resource Resource – New Plateau and
mineralisation Discovered Royal Structures Shoot ?? Kilkenny SE
Shoot exploration
success
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Cracow – Discovery History

2011 1931 – Payable gold 1932-92: Sporadic discovery Drilling 1875 – First Gold Discovered discovered (Golden Plateau) and production of 850koz, Programmes mainly from Golden Plateau Underway

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Investment Summary

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Organic Growth from Existing Assets

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Cracow growth (30%) Edna May underground opportunity Edna May mill Expansion to 3.2Mtpa Edna May high grade regional opportunities Tungsten & Increased Gold Recovery

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200,000
100,000
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Note: ‘Ounces per annum’ are management estimates only

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Edna May – A Long Life Growth Platform

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Long mine life (nine years)

Production growth

Significant cash operating margin Two operating gold mines; Edna May and Cracow Highly prospective multi-million ounce gold belts

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A sound strategic growth plan offering attractive gold production growth opportunities delivering shareholder value

High grade underground opportunity

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Appendix

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Catalpa MROR Statement (100%)

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Notes to Mineral Resource Statement

Edna May and Greenfinch Footnotes

Edna May April 2010 and Greenfinch December 2009, Mineral Resources, were estimated using Hellman & Schofield MIK bloc modeling techniques, based on a (0.4g/t) Au cut-off grade within a geologically and grade defined mineralisation envelopes and in accordance with the Australian JORC Code.

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The Resources are estimates of recoverable tonnes and grades using Multiple Indicator Kriging with block suppor correction into 25 metres (East) by15 metre (North) by 5 metre (Elevation) model blocks and assuming smallest minin unit for ore selection in mine grade control of 5 metres (East) by 3 metres (North) by 2.5 metres (Elevation).
Measured and Indicated resources lie in areas where drilling is available at a maximum of 25 x 25 metre spacing, Inferre resources exist in areas of broader spaced drilling, generally peripheral to the Measured and Indicated panels.
Edna May and Greenfinch Mineral Resource figures are stated at the 31 December, 2010 on an attributable basis, wit depletion by production where relevant.
There are no known environmental, permitting, legal, taxation, political or other relevant issues that would materially affec the estimates of the Mineral Resources.
Mineral Resources are inclusive of Ore Reserves. The stated contained Mineral Resource metal ounces are considere insitu; beneficiation recovery factors have not been applied.
Due to rounding of figures small discrepancies may exist.

The reported Mineral Resource has been compiled by Mr Nic Johnson. Mr Johnson is a Member of the Australian Institute o Geoscientists and an employee of Hellman & Schofield Pty Ltd. He has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a Competent Person as defined in the „Australasian Code for Reporting of Mineral Resources and Ore Reserves‟ of December 2004 (“JORC Code”) as prepared by th Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Minerals Council of Australia. Mr Johnsons consents to the inclusion in the report of the matters based on his information in th form and context in which it appears.

Edna May Underground Footnotes

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Edna May Underground Mineral Resources, were estimated using condition simulation techniques by SRK Consulting based on a 3g/t Au cut-off grade within a geologically and grade defined mineralisation envelopes and in accordance with the Australian JORC Code.
Edna May Underground Mineral Resources figures are stated at the 18 November, 2010 on an attributable basis, wit depletion by production where relevant.

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Notes to Ore Reserve Statement

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Edna May and Greenfinch Footnotes

The Edna May & Greenfinch Ore Reserve, which was estimated using Whittle Software based on relevant diluted mining Au cut-off grades in accordance with the Australian JORC Code, is summarised in the following table:

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A gold price of A$1,250 has been assumed in estimating the Greenfinch and Edna May Ore Reserves
The economic cut-off grade applied to the Edna May and Greenfinch Ore Reserve was 0.4g/t Au
Edna May and Greenfinch Ore Reserve figures are stated at the 31 December, 2010 on a 100% attributable basis, wit depletion by production where relevant.
There are no known environmental, permitting, legal, taxation, political or other relevant issues that would materially affec the estimates of the Ore Reserves.
Due to rounding of figures small discrepancies may exist.

The reported Edna May and Greenfinch Ore Reserves have been compiled by Mr Harry Warries. Mr Warries is a Member of the Australian Institute of Mining and Metallurgy and an employee of Coffey Mining Pty Ltd. He has sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a Competen Person as defined in the „Australasian Code for Reporting of Mineral Resources and Ore Reserves‟ of December 2004 (“JORC Code”) as prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Minerals Council of Australia. Mr Warries gives Catalpa Resources Limited consent to use this estimate in reports.

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Competent Persons

The reported Edna May Underground Mineral Resource has been compiled by Mr Daniel Guibal. Mr Guibal is a Member of the Australian Institute of Geoscientists and an employee of SRK Consulting Pty Ltd. He has sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a Competent Person as defined in the ‘Australasian Code for Reporting of Mineral Resources and Ore Reserves’ of December 2004 (“JORC Code”) as prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Minerals Council of Australia. Mr Guibal consents to the inclusion in the report of the matters based upon his information in the form and context in which it appears.

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The reported exploration results have been compiled by Mr John Winterbottom (Manager Geology), who is a Member of the Australian Institute of Geoscientists (AIG) and a full-time employee of Catalpa Resources Limited. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Winterbottom consents to the inclusion in the report of the matters based upon his information in the form and context in which it appears.

The information in this report that relates to Mineral Resources is based on work completed by Mr Nicolas Johnson, who is a Member of the Australian Institute of Geoscientists. Mr Johnson is a full time employee of Hellman and Schofield Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Johnson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Ore Reserves is based on work completed by Mr Harry Warries, who is a Member of the Australian Institute of Geoscientists. Mr Warries is a full time employee of Coffey Mining and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Warries consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The reported Cracow Mineral Resource and Ore Reserve are based on a Competent Persons Statement provided by Newcrest Mining Limited on behalf of the Cracow Gold Joint Venture. Cracow is an unincorporated joint venture between Catalpa (30%) and Newcrest (70%). Further details on CGJV Mineral Resources and Ore Reserves are available on the Newcrest website www.newcrest.com.au.

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Edna May History

3 historical mining phases 1910 to 1922 and 1934 to 1948  356k oz @ 19.5 g/t UG stoping  Historic tungsten production 1985 - 1990 ACM  274k oz @ 1.7 g/t ACM open pit 1989 – 1992 ACM  Decline development  limited stoping and then closure CAH Plant built 2009 – 2010 Commissioning plant from May 2010  55k oz @ 0.92 g/t - Mined  967koz @ 1.1 g/t - Depleted Reserve

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Edna May, Golden Point & Greenfinch Open Pit

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Greenfinch 8% Reserve ounces

Edna May 88% Reserve ounces

Golden Point 4% Reserve ounces

Surface Expression of Edna May, Greenfinch & Golden Point Gneiss and new pit design

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Edna May, Golden Point & Greenfinch Long Section

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A Strong and Experienced Board

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PETER MALONEY, Non-Executive Chairman

Mr Maloney has significant commercial, financial and management experience, including a long career with WMC Resources, where he held the positions of Treasurer, Executive Vice President (Americas) and Manager Commercial and Marketing (WA). He has been Executive General Manager, Finance at Santos, Chief Financial Officer at FH Faulding, and Director of Indophil Resources and Barra Resources, as well as Chief Financial Officer of Lion Selection since 2003

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BRUCE MCFADZEAN, Managing Director/CEO

Mr McFadzean brings over 30 years of management, mining, processing and project "start up" experience to Catalpa, half of which was gained in the employ of Rio Tinto and BHP Billiton. He also has broad commodity experience in a wide range of roles including corporate, managerial, technical and operational. Mr McFadzean is a non-executive director of Venture Minerals Limited

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BARRY SULLIVAN, Non-Executive Director

Mr. Sullivan is an experienced and successful mining engineer with a career spanning 40 years, including more than 20 years with Mount Isa Mines. In the final 5 years of his tenure with MIM, Mr Sullivan was Executive General Manager responsible for the extensive Mount Isa and Hilton operations. More recently, Mr Sullivan has worked with a number of smaller exploration and mining companies

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JOHN ROWE, Non-Executive Director

John Rowe brings a wealth of geological and business development skills to the Company. Mr Rowe has 35 years experience within the Nickel and Gold industries of Western Australia. He has held a variety of positions in mine management, exploration and business development and was previously employed as an executive of Lion Ore in Australia.

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GRAHAM FREESTONE, Non -Executive Director

Graham Freestone has over 30 years experience in the finance and natural resources industry in Australia and internationally. He has a broad finance, corporate and commercial background obtained from various senior finance positions with the Shell Group, Acacia Resources and AngloGold. Graham was involved in the float of the Shell Group’s mineral interests through Acacia Resources Limited

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MURRAY POLLOCK , Non-Executive Director

Murray Pollock is a businessman with 40 years experience within the mineral resource sector, principally in drilling. Mr Pollock is a drilling and mine management services consultant for several companies.

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Management Team: Mining, Operational & Start-up Experience

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GM Edna May 25 years 25 years 1

JOHN FRASER Processing Experience Operations Experience Project Start up

BRUCE MCFADZEAN Mining Experience Operations Experience Project Start up

Managing Director/CEO 32 years 27 years 6

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ERIK PALMBACHS Finance Experience Mining Experience Project Start up

CFO/Company Secretary 29 years 17 years 3

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ADRIAN PELLICCIA Mining Experience Operations Experience Project Start up

Manager Bus Dev 11 years 6 years 2 Exploration Manager 35 years 30 years

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NICK WINNALL

STUART PETHER Mining Experience Operations Experience Project Start up

COO 20 years 15 years 1

Exploration Experience In-field Experience

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JOHN WINTERBOTTOM Manager Geology Mining Experience 15 years Resource Evaluation 15 years Project Start up 3 years

RAELENE WYATT Human Resources Mining Experience Project Start up

Manager HR 15 years 8 years 4

Hand picked management team Sound blend of skills in engineering, geology, metallurgy, human resources & finance Significant technical and operating expertise Experienced start-up team

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For more information, please contact:

Donna Kelly, Investor Relations Advisor Tel: +61 8 6216 9700 [email protected]

Level 1, 9 Havelock Street, West Perth Western Australia, 6005 Ph: +61 8 6216 9700 Fax: +61 8 9321 8804

www.catalparesources.com.au

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AI assistant

EVOLUTION MINING LIMITED — Investor Presentation 2011

64885_rns_2011-05-11_f802c6f1-f254-4f28-ad8c-bd96b53c0a95.pdf

ASX Codes

PRESENTATION BY BRUCE McFADZEAN, MANAGING DIRECTOR AND CEO

Board of Directors

Senior Management

For further enquiries contact:

Disclaimer

Outline

Item

Company Overview

Corporate Snapshot

Delivering Shareholder Value

Resource Growth Driven By Exploration Success Group Resource Growth

High Grade, High Value

Group Ore Reserve Growth

Edna May Gold Operations

Location – Edna May Gold Operations

Local Geology – Edna May Gold Operations

Edna May – Snapshot

Edna May Gold Production

Edna May – Highlights

Plant Performance

Reconciliation

Resource Growth

Edna May Operations - Mining

Edna May Operations - Processing

Edna May Operations Progress Wall failure - corrected

Edna May North Wall

North Wall Stabilised April 2011

Recent Operational Performance

Edna May Gold Production

Edna May Delivering Production Growth

Edna May – Fast Growing, Strong Potential

Mid Tier Gold Producer

Edna May Long Section

Edna May Drilling Success

Recent Exploration Results

The Edna May Underground Opportunity Indicative Timetable to High Grade Ore Production

Full scale production ramping Edna May output to 140,000+ ounces p.a.

Cracow Gold Operations

Cracow – Snapshot

Cracow Gold Production

Cracow – Highlights

Cracow – Projects and Targets Large 2M ounce epithermal system

Cracow – Recent Infill and Exploration Results

Cracow – Discovery History

Investment Summary

Organic Growth from Existing Assets

Edna May – A Long Life Growth Platform

Appendix

Catalpa MROR Statement (100%)

Notes to Mineral Resource Statement

Edna May and Greenfinch Footnotes

Edna May Underground Footnotes

Notes to Ore Reserve Statement

Edna May and Greenfinch Footnotes

Competent Persons

Edna May History

Edna May, Golden Point & Greenfinch Open Pit

Edna May, Golden Point & Greenfinch Long Section

A Strong and Experienced Board

PETER MALONEY, Non-Executive Chairman

BRUCE MCFADZEAN, Managing Director/CEO

BARRY SULLIVAN, Non-Executive Director

JOHN ROWE, Non-Executive Director

GRAHAM FREESTONE, Non -Executive Director

MURRAY POLLOCK , Non-Executive Director

Management Team: Mining, Operational & Start-up Experience

NICK WINNALL

For more information, please contact:

More from EVOLUTION MINING LIMITED

EVOLUTION MINING LIMITED Investor Presentation 2011