MATSA RESOURCES LIMITED — Capital/Financing Update 2021

Sep 19, 2021

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ASX Announcement

20[th] September 2021

Issue of Options and Secondary Trading Notice

Matsa Resources Limited (‘Company’) wishes to confirm the allotment of 21,095,929 Options with an exercise price of $0.17 each and expiring 30 April 2023 following receipt of shareholder approval at the general meeting held on Friday 17 September 2021. The options issued were part of the $3.38M placement announced 15 July 2021.

CORPORATE SUMMARY

Executive Chairman

Paul Poli

Directors

An Appendix 2A has been lodged with respect to the issue of the new shares and the Company gives this notice pursuant to section 708A(5)(e) of the Corporations Act.

The Company advises that the Options 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.

This ASX announcement is authorised for release by the Board of Matsa Resources Limited.

Yours sincerely

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Andrew Chapman Director/Company Secretary

Frank Sibbel

Pascal Blampain

Director & Company Secretary

Andrew Chapman

Shares on Issue

358.15 million

Listed Options

49.22 million @ $0.17

Unlisted Options

65.38 million @ $0.17 - $0.35

Top 20 shareholders

Hold 53.17%

Share Price on 20[th] Sept 2021

5.7 cents

Market Capitalisation

$20.41 million

For further information please contact:

Paul Poli

Executive Chairman T 08 9230 3555 E reception@matsa.com.au

Matsa Resources Limited | www.matsa.com.au | ABN 48 106 732 487

Head office: 11/139 Newcastle Street, Perth Western Australia 6000 | T 08 9230 3555 | reception@matsa.com.au