EVOLUTION MINING LIMITED — Major Shareholding Notification 2009

Dec 9, 2009

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ASX Code: CAH*

10 December 2009

TOP 20 SHAREHOLDERS FOR FULL PAID ORDINARY SHARES AND LISTED OPTIONS

Please find below tables for the Distibution for Equity Securities and the 20 largest holders of :

Total number of shares on issue*: 194,563,256

Share Price Current*: $1.58 (9 December 2009)

12 month range $1.98 (high) - $0.20 (low)

Board of Directors

• Fully paid ordinary shares

• Listed options exercisable at $1.10 expiring 30 June 2010

• Listed options exercisable at $1.10 expiring 31 October 2011

The tables include Catalpa shares issued as consideration under the merger.

ENDS

For further enquiries contact:

Warrick Hazeldine/Annette Ellis Media and Investor Relations Purple Communications Tel: (08) 9485 1254

Bruce McFadzean Managing Director Catalpa Resources Limited Tel (08) 9321 3088

Mr Peter Maloney Non Exec Chairman Mr Bruce McFadzean: Managing Director Mr John Rowe: Non Exec Director Mr Murray Pollock: Non Exec Director Mr Barry Sullivan: Non Exec Director Mr Graham Freestone: Non Exec Director Mr Graham Anderson: Company Secretary Mr Leonard Math: Company Secretary

Senior Management Erik Palmbachs CFO Stuart Pether GM Operations Nick Winnall Manager Exploration Adrian Pelliccia Manager Geology Major Shareholders Auselect Limited * 25.66% HSBC Custody Nominees 8.78% Citicorp Nominees 6.47% ANZ Nominees Limited 4.35% National Nominees 3.07% Lion Manager 3.04% Cogent Nominees 2.90% Creasy Mark Gareth 1.57% Reneagle 0.89% Goldrich Holdings 0.75%

• Includes Auselect Limited circa 50m shares which subject to shareholder approval Catalpa intends to cancel within 12 months from the date of merger with Lion Selection Limited

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(a) Distribution of equity securities

Analysis of numbers of equity security holders by size of holdings:

		Ordinary shares	Listed Options (CAHO)	Listed Options (CAHOB)
		Number of holders	Number of holders	Number of holders
1	1,000	2,064	243	113
1,001	5,000	3,783	121	204
5,001	10,000	1,413	30	69
10,001	100,000	1,448	34	85
100,001	and over	97	3	10
		8,805	431	481

The number if shareholders less than a marketable parcel of shares is 580 with 69,958 shares.

• (b) Twenty largest shareholders

(i) The names of the twenty largest holders of quoted ordinary shares are:

	Listed Ordinary shares	Percentage of
	Number of shares	Ordinaryshares
1 AUSELECT LTD	49,922,703	25.66%
2 * HSBC CUSTODY NOM AUST LTD	17,083,615	8.78%
3 CITICORP NOM PL	12,589,655	6.47%
4 ANZ NOM LTD	8,455,562	4.35%
5 NATIONAL NOM LTD	5,967,739	3.07%
6 LION MANAGER PL	5,923,763	3.04%
7 COGENT NOM PL	5,651,160	2.90%
8 CREASY MARK GARETH	3,062,502	1.57%
9 RENEAGLE PL	1,729,790	0.89%
10 *GOLDRICH HLDGS PL	1,454,546	0.75%
11 NEFCO NOM PL	1,204,546	0.62%
12 AUSTOCK NOM PL	1,100,626	0.57%
13 *J P MORGAN NOM AUST LTD	1,000,039	0.51%
14 BENNETT ROBERT W AND D G	977,789	0.50%
15 SPRINGTIDE CAP PL	881,819	0.45%
16 *YANDAL INV PL	805,398	0.41%
17 WIDDUP ROBIN ANTHONY AND J	804,793	0.41%
18 MIVIVA PL	789,091	0.41%
19 MIRRABOOKA INV LTD	669,000	0.34%
20 SWANSON A P AND L M	600,006	0.31%
	120,674,142	62.01%

Voting rights

All ordinary shares (whether fully paid or not) carry one vote per share without restriction.

(ii) The names of the twenty largest holders of quoted options expiry 30 June 2010

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	Listed Options	Percentage of
	Number of Options	Options
1 AUSELECT LTD	1,536,327	44.13%
2 * RUBITON PL	146,445	4.21%
3 DELLA BOSCA JOHN + J	104,273	3.00%
4 HSBC CUSTODY NOM AUST LTD	93,750	2.69%
5 FORTIS CLEARING NOM PL	92,585	2.66%
6 * YANDAL INV PL	89,489	2.57%
7 * EVANS SIMON ROBERT	87,922	2.53%
8 * MINT FINCL GRP PL	84,755	2.43%
9 * GOLDRICH HLDGS PL	79,968	2.30%
10 MATCHETT SHANE A + M A	58,170	1.67%
11 DAVID E PERKS & ASSOCS PL	45,455	1.31%
12 ROBERT MACFADYEN PL	45,455	1.31%
13 RECHT ALEX AND HELEN	45,455	1.31%
14 STRANGE KEVIN AND BONSU I	34,091	0.98%
15 BOSCH KATRINA ALISON	31,819	0.91%
16 COHEN SEYMOUR BENTLEY	24,387	0.70%
17 PARKER ROGER A A AND M D	23,682	0.68%
18 MOUSETRAP NOM PL	23,071	0.66%
19 MAGNIM PL	22,728	0.65%
20 RESNIK MARK	18,182	0.52%
	2,688,009	77.22%

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(iii) The names of the twenty largest holders of quoted options expiry 30 June 2011

	Listed Options	Percentage of
	Number of Options	Options
1 AUSELECT LTD	10,218,873	65.10%
2 CALLITON PL	469,432	2.99%
3 PARKRANGE NOM PL	318,182	2.03%
4 GOFFACAN PL	272,728	1.74%
5 * RUBITON PL	220,336	1.40%
6 * DRUMMOND SHAY MARGARET	182,855	1.16%
7 * GOLDRICH HLDGS PL	181,819	1.16%
8 * GEDDES ANGUS WILLIAM S	156,115	.99%
9 GOFFACAN PL	136,364	.87%
10 RENEAGLE PL	129,627	.83%
11 CUSTODIAL SVCS LTD	100,000	.64%
12 BURFORD MATTHEW	95,455	.61%
13 CHARLEMAGNE INV PL	90,910	.58%
14 SUPER 1136 PL	81,819	.52%
15 WALDRON MARK ANDREW	63,470	.40%
16 * SHEARD KENNETH	61,863	.39%
17 BURG BRIAN	60,887	.39%
18 KWORT JOSEPH AND FOKAS K A	54,546	.35%
19 DELLA BOSCA JOHN AND J	48,728	.31%
20 * LITTLE GARY WILLIAM	47,728	.30%
	12,991,737	82.76%

Note: * Denotes merged holder

ENDS

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ABOUT CATALPA RESOURCES

Catalpa Resources Limited (ASX: CAH) has two exciting gold assets; a 30% interest in the 100 000+ ounces per annum Cracow Gold Operations - a producing gold mine in Queensland (70% Newcrest Mining Limited); and the 100 000+ ounces per annum Edna May Gold Operations in Western Australia (100%) - an advanced gold project on schedule to commence production in June 2010.

The A$92 million Edna May Gold Project is fully funded, and, as part of the finance facility, Catalpa has sold forward 352,316 ounces of gold at A$1,557.50 per ounce. At an average gold price of A$1,400 per ounce Catalpa will realize an average cash operating margin of A$72 million per annum from the Edna May Gold Operations alone.

With a combined Mineral Resource of more than 1.9 million ounces and a combined Ore Reserve of more than a million ounces of gold, the Cracow and Edna May Operations will provide a sustainable cash flow to fund Catalpa’s growth strategy.

Catalpa is confident that both the Cracow and Edna May Gold Operations offer further Reserve and Resource growth potential, with ongoing exploration programmes at both operations. In parallel, the Company continues to proactively identify and assess other production growth opportunities.

The Company has a committed and technically accomplished management team and a highly-experienced and supportive Board, committed to realising shareholder value from the Company’s growing asset portfolio.

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

EDNA MAY OPERATIONS (100%)

Catalpa’s wholly-owned Edna May Gold Operations is conveniently positioned just two kilometers from the infrastructure of Westonia, on the eastern edge of WA’s Wheatbelt region. The mine is half way between Perth and Kalgoorlie and ideally situated to be serviced by either of these major mining centres.

With its robust economics, geologically and metallurgically well defined ore-body, high Ore Reserve confidence and excellent recovery rate of more than 92%, Catalpa’s Edna May Gold Operations offers an attractive, long-term platform to grow a mid tier gold producer.

Catalpa’s mine and processing schedule demonstrate average gold production at Edna May in excess of 100,000 ounces of gold recovered per annum for a life of mine of more than nine years, with production planned to commence in June 2010.

CRACOW GOLD OPERATIONS (30%)

Catalpa owns 30% of the Cracow Gold Operations in Queensland with Newcrest Mining Limited, and also has a preemptive right over Newcrest’s 70% stake in the asset. The Cracow Gold Project is well managed and operated by Newcrest, allowing Catalpa to remain focused on constructing the Edna May Gold Project on time and within budget.

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The Cracow Gold Project has a history of steady gold production of over 100,000 ounces per annum for the past four years and it is considered to have considerable exploration upside.

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