MATSA RESOURCES LIMITED — Capital/Financing Update 2010

Mar 25, 2010

ABN 48 106 732 487

25 March 2010

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ASX Announcement

Company Announcements Office Australian Securities Exchange Limited (‘ASX’)

MATSA RESOURCES LIMITED (ASX Code: MAT)

SECONDARY TRADING NOTICE PURSUANT TO SECTION 708A (5) (e) OF THE CORPORATIONS ACT 2001

Matsa Resources Ltd (‘Company’) gives this notice pursuant to section 708A (5) (e) of the Corporations Act 2001 (Cth) (‘Act’).

The Company has raised $4,423,000 via the placement of 12,157,012 fully paid ordinary shares.

The Company advises that the Shares were issued without disclosure to investors under Part 6D.2 of the Act. The Company, as at the date of this notice has complied with:

• (a) the provisions of Chapter 2M of the Act as they apply to the Company; and

• (b) Section 674 of the Act.

As at the date of this notice there is no information that is excluded information for the purposes of sections 708A (7) and (8) of the Act.

Yours sincerely

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Andrew Chapman Company Secretary

Head Office: Suite 11, 139 Newcastle Street, Perth Western Australia 6000 Kalgoorlie Office: Suite 1, Vosper House, 31-33 Dugan Street, Kalgoorlie 6430 Bangkok Office: Unit 1808, 2 Pacific Place, Sukhumvit Road, Sukhumvit Bangkok reception@matsa.com.au www.matsa.com.au

Tel : +61 8 9230 3555 Fax : +61 8 9227 0370 Tel: +61 8 9021 7200 Fax: +61 8 9021 7277 Tel: +66 0 2653 0258 Fax: +66 0 2653 0258 P a g e | 1