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, or half way between Perth and Kalgoorlie, ideally situated to be serviced by both centres.

Catalpa has an experienced and innovative Board and management team that aims to realise a production and cash flow profile from the development of the Edna May open pit resources in the most appropriate timeframe.

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 in final draft 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.

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 is also pursuing parallel growth by exploring its 800km� of under-explored Westonia Greenstone Belt and reviewing other regional opportunities for acquisition and/or joint venture. In particular, the Company 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.

The company 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.