MATSA RESOURCES LIMITED — Capital/Financing Update 2018

Jun 6, 2018

==> picture [595 x 56] intentionally omitted <==

----- Start of picture text ----- Matsa Resources Limited----- End of picture text -----

==> picture [132 x 117] intentionally omitted <==

LIMITED ABN 48 106 732 487

ASX Announcement

7[th] June 2018

Mining Approvals & Licences Received Red Dog Gold Project

Highlights

• Matsa has received final approval for its Mining Proposal, Mine Closure Plan and Project Management Plan for the Red Dog Gold Project

CORPORATE SUMMARY

Executive Chairman

Paul Poli

Director

• All regulatory approvals have now been received, thus allowing immediate commencement of mining

• Tendering process for mining and haulage complete, with finalisation and awarding of contracts in progress

• Ore Processing Agreement negotiations in progress

• Final mining studies and feasibility due to be completed shortly

• Expected start in early Q3 2018

Frank Sibbel

Director & Company Secretary

Andrew Chapman

Shares on Issue

176.93 million

Unlisted Options

13.70 million @ $0.25 - $0.30

Top 20 shareholders

Hold 51.68%

Share Price on 6[th] June 2018

16 cents

Market Capitalisation

$28.31 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 1801, 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

==> picture [596 x 60] intentionally omitted <==

----- Start of picture text ----- Matsa Resources Limited----- End of picture text -----

Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased to advise that it has received approval from the Department of Mines Industry, Regulation and Safety (DMIRS) for its Mining Proposal, Mine Closure Plan and Project Management Plan for its Red Dog Gold project.

All regulatory approvals have now been received, which means that mining can commence at the Red Dog Gold project as soon as Matsa completes all arrangements.

Whilst Matsa progressed the approvals for the project, Matsa also completed the tendering for mining and haulage works as well as advancing negotiations on an Ore Purchase/Processing Agreement. Matsa is progressing to mining at Red Dog Gold project and expects to commence in early Q3 2018.

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

Page 2