EVOLUTION MINING LIMITED — Regulatory Filings 2008

Sep 23, 2008

24 September 2008

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CATALPA DRILLING & ASSAY RESULTS “PROMISING”

HIGHLIGHTS

• Promising assay results received for the first drill hole aimed at defining high grade underground targets at Edna May

ASX Code: CAH

• Eight significant intercepts in hole WDD144A including

• 1.56m @ 49.42 g/t Au including 0.44m @160g/t Au from 536.88m

• 0.62m @ 99.1 g/t Au from 542.38m

• 0.87m @ 140g/t Au from 568.30m

Total number of shares on issue: 345,377,313 Share Price Current: (23 Sept 2008) $0.061

• 1.09m @ 62.7 g/t Au from 577.17m, and

• Four occurrences of visible gold reported in second drill hole WWD145 within a well defined quartz reef structure.

Catalpa Resources ( ASX:CAH ), Perth-based resources company, today reported promising assay results from the first of 11 holes in its current drill programme, aimed at defining high grade arcuate reef structures at its wholly-owned Edna May Gold Project in Western Australia.

Bruce McFadzean, Catalpa Resources Managing Director confirmed that results from drill hole WDD144A are very encouraging.

“While further review and study is required to determine the extent to which the intercepts enhance the geological picture of the Edna May underground potential, there is mounting evidence of preferentially mineralised zones within the Edna May Gneiss,” Mr McFadzean said.

“Drill hole WDD144A yielded eight significant intercepts; four of which can be considered as potential stockwork or small-vein related intercepts, and four high-grade assays from zones of silicification and/or narrow (<10cm) mineralised quartz veins w ithin the Edna May Gneiss and immediate footwall rocks.”

The Edna May Gneiss was intersected from 440m to 556m.

Mr McFadzean said that the results will be subject to continued analysis and interpretation as the 11-hole programme is progressed.

“With four occurrences of visible gold in the second drill hole WDD145 at 511.22m, 513.20m, 514.30m and 515.30m, we are confident in the targets identified by the team and in our belief that Edna May is prospective for underground mining,” Mr McFadzean said.

In the interim, the buoyant outlook for the long-term Australian gold price supports Catalpa’s Edna May Gold Project Feasibility Study that is on schedule to be in draft later this month.

12 month range: $0.075 (high) - $0.038 (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

Major Shareholders

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

The table below, based on a 5 g/t Au cut off, lists the assay data relating to the first drill hole WDD144A.

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	m	Au g/t	From (m)	To (m)
WDD144A	0.82	6.04	500.55	501.37
WDD144A	0.27	129.00	513.00	513.27
WDD144A	1.00	6.68	522.69	523.69
WDD144A	1.56	49.42	536.88	538.44
	Inc 0.44m	160.00	538.00	538.44
WDD144A	0.62	99.10	542.38	543.00
WDD144A	0.34	85.70	547.86	548.20
WDD144A	0.87	140.00	568.30	569.17
WDD144A	1.09	62.70	577.17	578.26

ENDS

Competent Person Statement

The exploration data has been compiled according to the JORC Code for the reporting of Mineral Resources and Ore Reserves by Nick Winnall (Exploration Manager), a full-time employee of Catalpa Resources Limited. Mr. Winnall is a Member of the Australasian Institute of Mining and Metallurgy (AUSIMM) 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 December 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr. Winnall consents to the inclusion in the report of the matters based upon his information in the form and context in which it appears.

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.

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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.

For further enquiries contact:

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

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

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