2 December 2008
Company Announcements Office
Australian Stock Exchange Limited
Exchange Plaza
Sherwood Court
PERTH
WA 6000
Dear Sir / Madam
Independent Report: Catalpa
Resources
We draw the attention of current and
potential investors in Catalpa Resources to a Report by Strachan Corporate,
available on our website:
http://www.catalparesources.com.au/index.php/broker_research_reports
Yours faithfully
Bruce McFadzean
Managing Director
For further
enquiries contact:
Bruce McFadzean
Warrick Hazeldine / Annette
Ellis
Managing
Director
Media and Investor Relations
Catalpa
Resources Limited
Purple Communications
Tel (08)
9321
3088
Tel: (08) 9485 1254
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 880km? 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.
Issued by
Purple Communications
Level 3, 28
Kings Park Road, WEST PERTH
WA 6005
Ph: 08 9485 1254 Fax: 08 6263 0455
purple@purplecom.com.au