MATSA RESOURCES LIMITED — Share Issue/Capital Change 2005

Dec 13, 2005

KALGOORLIE-BOULDER RESOURCES LTD ABN 48 106 732 487

14 December 2005

Release to ASX

ASX Code: KAL

Allot Shares and Options

The directors of Kalgoorlie-Boulder Resources Ltd are pleased to advise that they have today allotted a total of:

• 9,765,250 ordinary fully paid shares at an issue price of 16 cents per share; and
• 4,882,625 options with an exercise price of 20 cents per share expiring on 31 July 2008 $\bullet$ for nil consideration,

pursuant to the replacement prospectus dated 18 November 2005.

The monies raised from the placement will fund the payment of an initial instalment under the Wilson Prospect Letter Agreement. This agreement, subject to its completion, will see the Company acquire a 75% Working Interest in oil and gas leases covering 640 acres in Okmulgee County, Oklahoma, United States.

The Company had previously lodged an Appendix 3B in relation to the shares and options to be issued under the replacement prospectus dated 18 November 2005. A replacement Appendix 3B application for quotation of the new shares and options will be lodged.

For and on behalf of the directors of Kalgoorlie-Boulder Resources Ltd

John Coles Company Secretary