MATSA RESOURCES LIMITED — Capital/Financing Update 2017

Apr 6, 2017

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Matsa Resources Limited
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LIMITED ABN 48 106 732 487

ASX Announcement

7[th] April 2017

Matsa Continues to Grow Lake Carey Gold Project

Highlights

• Matsa has acquired a 100% interest in E39/1837 with an area of 19.68 km[2 ] at Lake Carey

• The acquisition of E39/1837, 4km south of the Sunrise Dam Gold Mine operated by AngloGold Ashanti, is an extension of the Bindah Fault which controls mineralisation at Matsa’s recently announced BE 1 gold discovery

• This increases the Company’s exploration footprint in the highly prospective Laverton tectonic zone

• A review of past exploration within the new area is currently underway

CORPORATE SUMMARY

Executive Chairman

Paul Poli

Director

Frank Sibbel

Director & Company Secretary

Andrew Chapman

Shares on Issue

144.7 million

Unlisted Options

17.02 million @ $0.25 - $0.30

Top 20 shareholders

Hold 53.12%

Share Price on 6[th] April 2017

22.5 cents

Market Capitalisation

$32.56 million

Head Office: Suite 11, 139 Newcastle Street, Perth Western Australia 6000 Tel : +61 8 9230 3555 Fax: +61 8 9227 0370 Bangkok Office: Unit 1808, Pacific Place 2, 142 Sukhumvit Road, Klongtoey, Bangkok 10110 Tel : +66 0 2653 0258 Fax : +66 0 2653 0258 reception@matsa.com.au www.matsa.com.au

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Matsa Resources Limited
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Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased to advise that is has further expanded the exploration area at the Lake Carey Gold project by acquiring a 100% interest in E39/1837 from Sammy Resources Pty Ltd as shown in Figure 1. The licence covers an area of 19.68 km[2 ] along an extension of the Bindah Fault where Matsa’s recently announced BE 1 gold mineralisation was discovered. Imortantantly, the licence is contiguous with AngloGold Ashanti’s Sunrise Dam gold project and is only 4km south of the Sunrise Dam gold mine. The acquisition represents an expansion of Matsa’s Lake Carey gold project where commencement of trial mining of the Fortitude gold deposit is expected mid-2017.

The acquisition has increased Matsa’s exploration footprint at Lake Carey to 444.88 km[2] in the highly prospective Laverton tectonic zone, close to a number of significant gold mines including Red October (Saracen), Sunrise Dam (AngloGold Ashanti PLC), and the Granny Smith and Wallaby mines operated by Goldfields Ltd (Figure 1).

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Figure 1: Matsa’s Lake Carey Project and major tenement holdings on aeromagnetic image

The new licence is situated over a northern extension of the Bindah Fault as interpreted from aeromagnetics and Matsa believes that the licence could be prospective for gold mineralisation. A review of past exploration within this licence is currently underway. Salient aspects of the newly acquired tenement is summarised in Table 1.

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Matsa Resources Limited
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Tenement	Type	Status	Holder	**Granted **	**Area **	Units	Area(km2)
E 39/1837	EXPLORATION LICENCE	LIVE	SAMMY RESOURCES PTY LTD	5/02/2016	7	BL.	19.68

Table 1: Exploration Licence acquired by Matsa

Terms of Agreement

Matsa to acquire 100% of E39/1837 on the following terms:

• Payment of $50,000 on signing of final transfer documents (completed)

• 1% NSR royalty on all gold produced

For further information please contact:

Paul Poli Executive Chairman

Phone +61 8 9230 3555 Fax +61 8 9227 0370 Email reception@matsa.com.au Web www.matsa.com.au

Competent Person

The information in this report that relates to Exploration results, is based on information compiled by David Fielding, who is a Fellow of the Australasian Institute of Mining and Metallurgy. David Fielding is a full time employee of Matsa Resources Limited. David Fielding has sufficient experience which is relevant to the style of mineralisation and the type of ore deposit under consideration and the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. David Fielding consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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