Did you run it in Administrator mode? It looks like it's having issues writing to disk, but shouldn't be an issue unless you're not an Administrator. You should also double-check all files are nested within the folders, rather than in subfolders of the same name, which sometimes happens using archiving tools to unarchive.
Additionally, just in case, these are the steps to use, in order, for the server to run by default:
NOTE: Run EVERYTHING as Administrator.
Step 1: Run MySQL.bat from _Server.
Step 2: Run authserver.exe from Release.
Step 3: Run worldserver.exe from Release.
NOTE: If the game hangs during log-in, remove libeay32.dll and ssleay32.dll from the _Server folder.
Step 4: Log-in using the following details: Username - Admin, Password - Admin.