MATSA RESOURCES LIMITED — AGM Information 2007

Nov 20, 2007

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12 November 2007

Dear Shareholder,

As you have been previously informed, on Wednesday 28 November 2007 we will hold our first Annual General Meeting under the new and dynamic team now managing Kalgoorlie-Boulder Resources Limited.

We are encouraged by invigorated public recognition of our company, and aim to demonstrate our commitment to implementing a new approach not just to the operations and management of KAL, but in the Company’s relationship with you, our shareholders and the investing public.

We are seeking to make the Annual General Meeting as informative as possible because we believe a continuous information flow to you is an essential part of doing business. A part of this is our new website, which you can visit at http://www.kalgoorlieboulderres.com.au. The website is a work in progress and will be continually upgraded on a regular basis.

Following the ordinary business described in the Notice of Meeting, our Operations Manager Mark Sampson will deliver a detailed power point presentation which we hope will give you greater insight into our operations and future direction. As your Chairman, I will also share with your our vision and our expectations for the coming year.

I am also pleased to advise that Mr Stanley Lewis, one of our US based directors and a director of RASL Au LLC (a 31% shareholder in KAL) will be attending the Annual General Meeting and will be available to meet with shareholders after the meeting.

Of course, we expect to hear and to answer questions at the AGM and we look forward to that opportunity for a close dialogue with you all.

Even if you are unable to attend the meeting in person, we would still like to receive and answer any questions you may have. Please write your questions where indicated below and mail them to me at the company in the enclosed pre-paid envelope. Please mail the envelope before close of business on Wednesday 21 November.

You may also email them to us at: karen.ridley@kbrl.com.au

Within the constraints of the listing rules we aim to address all questions.

Yours faithfully,

Michael Atkins Chairman

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Annual General Meeting

Wednesday 28 November 2007

If you are unable to attend the meeting in person, please write your questions where indicated below and mail them to the company in the enclosed pre-paid envelope, before close of business on Wednesday 21 November.

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