EVOLUTION MINING LIMITED — M&A Activity 2009

Nov 16, 2009

No:

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ASX Circular

Date: 17 November 2009

CATALPA RESOURCES LIMITED – MERGER WITH LION SELECTION LIMITED BY SCHEME OF ARRANGEMENT

Key topics

1. Scheme of Arrangement

2. Catalpa Resources Limited (ASX Code: CAH)

3. Lion Selection Limited (ASX Code: LST)

Shareholders in Catalpa Resources Limited (“CAH”) have voted in favour of the Scheme of Arrangement (the “Scheme”) giving effect to the merger between Lion Selection Limited (“LST”) and CAH at a meeting held on 17 November 2009. The Scheme is subject to approval by the Federal Court of Australia and the satisfaction of various conditions precedent under the Merger Implementation Agreement.

Scheme Consideration

Reading List

Banks Client Advisers Compliance Managers Corporate Advisory DTR Operators Institutions ASTC Participants Office Managers Operations Managers Research Analysts

Authorised by

Farlee Walker

Contact

Farlee Walker

Telephone

(08) 9224 0015

ASX Markets Supervision Pty Ltd ABN 26 087 780 489 Exchange Centre 20 Bridge Street Sydney NSW 2000 PO Box H224 Australia Square NSW 1215

Internet: http://www.asx.com.au

LST shareholders will receive one CAH share for every one LST share held, on a post consolidation basis, on the implementation date of the Scheme.

Timetable

The following timetable is expected to apply to the Scheme.

Tuesday 17	Scheme approved by CAH shareholders at the
November 2009	Extraordinary General Meeting.
Friday 27	Court hearing for approval of Scheme.
November 2009
Monday 30	Effective date – Court orders approving the Scheme
November 2009	to be lodged with ASIC.
	Calculation Date – for the calculation of Scheme
	consideration.
	LST shares cease trading at close of trading.
Monday 7	Scheme record date for determining entitlements to
December 2009	Scheme consideration.
Thursday 10	Share Scheme implementation date – all Scheme
December 2009	participants to be provided with the Scheme
	consideration to which they are entitled.
	Despatch of transaction confirmation statements.

For further information please refer to CAH and LST’s recent announcements, including the Scheme Booklet released on ASX on 12 October 2009.

No responsibility is accepted for any inaccuracies contained in the matter published.

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