EVOLUTION MINING LIMITED — Board/Management Information 2008

Dec 11, 2008

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12 December 2008

ASX Code: CAH

CATALPA BOARD CHANGE

Catalpa Resources Limited (ASX: CAH) today advised that Mr Chris Melloy (Non-Executive Director) has resigned from the Catalpa Board with immediate effect.

Mr Melloy, an Executive Director of Lion Manager, has been Lion Selection’s representative on the Catalpa Board since before the Company (formerly Westonia Mines Limited) listed on the ASX in August 2002.

Mr Melloy’s resignation follows the appointment of Mr Barry Sullivan, presently a Non-Executive Director of Catalpa, to the Lion Board in November 2008. Mr Sullivan will remain on the Catalpa Board as Lion’s representative.

Lion recently re-affirmed its confidence in the Catalpa Board and management, and the Company’s Edna May Gold Project, by sub-underwriting 100% of the recent successfully-completed rights issue to raise approximately $3.5M before costs.

The Catalpa Board was strengthened during 2008 by the appointment of Mr Bruce McFadzean as Managing Director in May 2008, Mr Barry Sullivan in June 2008, and Mr Nigel Johnson in August 2008.

Total number of shares on issue: 518,168,935

Share Price Current: $0.026

12 month range: $0.075 (high) - $0.020 (low)

Board of Directors

Mr John Rowe: Non Exec 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

The remaining five-member Board has a sound mix of corporate, technical, operational and financial expertise to progress the Edna May Gold Project to production.

Major Shareholders

I would like to thank Mr Melloy, on behalf of the Board, for his significant contribution to Catalpa over the past six years.

John Rowe Chairman

Major Shareholders
Lion Selection Group Limited	51.05%
Goldrich Holdings	3.09%
Zero Nominees	1.71%
Drummond Shay Margaret	1.16%
Parkrange Nominees	1.14%
UBS Wealth Management	0.95%
Charlemagne Investments	0.88%
ANZ Nominees Limited	0.69%
Goffacan	0.58%
Calliton	0.56%

For further enquiries contact:

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

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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 three 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 tabled to the Board in the December 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 880km² 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.

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