MAT: Large Gold System Confirmed at Fortitude North Lake Carey

MATSA RESOURCES LIMITED

• All assay results from the 2023 RC drill program at Fortitude North confirm a large gold mineralized system.
• Seven of the top twelve intercepts come from the 2023 program with significant width and grade.
• Mineralization at Fortitude North is comparable to the world-class Sunrise Dam gold deposit and remains open in all directions.

2023-06-02 09:26:00

MAT: Strong Upside in Updated Scoping Study Devon Project

MATSA RESOURCES LIMITED

• Updated Scoping Study on Devon Pit restart shows potential project cash flow surplus of A$50.4m over 16 months at A$3,000/oz.
• Production estimate of 250kt at 5.25g/t Au with a recovered ~39koz and all-in cash costs of A$1,613/oz gold.
• Definitive Feasibility Study (DFS) expected to be finalized by 31 August 2023, with proof of funding by 30 September 2023 and FID expected late 2023.

2023-05-17 09:33:00

MAT: Further Excellent Gold Results at Fortitude North

MATSA RESOURCES LIMITED

• Further assay results from 5 holes in the 20 RC drill hole program indicate strong potential for a substantial gold story at Fortitude North, within Lake Carey.
• Received results include 14m @ 3.4g/t Au, 35m @ 3g/t Au, and 21m @ 1.7g/t Au among others, showing a significant build on the size and scale of Fortitude North.
• Assays for the remaining 5 holes are expected in the near term, potentially adding further to Matsa's gold resource at Lake Carey.

2023-05-11 09:30:00

MAT: High Grade Gold Results - Devon Pit JV Lake Carey

MATSA RESOURCES LIMITED

• Assay results from a 15-hole RC drilling program at Devon Pit JV in Lake Carey reveal high-grade gold findings in the Main Lode and West Lode.
• All significant gold intercepts are within the current optimized pit shell at Devon, with ongoing work on Mineral Resource upgrades.
• Key environmental permits have been submitted for approval to relevant authorities.

2023-05-08 09:40:00

MAT: New Strong Gold Intercepts at Fortitude North - Lake Carey

MATSA RESOURCES LIMITED

• A 20 RC drill hole program has been completed, enhancing the potential of Fortitude North at Lake Carey Gold Project.
• Initial results show strong gold intercepts, with drilling extending the mineralised system over a 1.7km strike length that remains open in multiple directions.
• Geological observations suggest similarities between Fortitude North and the 12M oz Sunrise Dam gold mine, located in the same regional geological structure.

2023-05-04 09:28:00

MAT: Positive Lepidolite Processing Test Results Thailand Lithium

MATSA RESOURCES LIMITED

• Yongxing Special Materials achieved over 95% lithium recoveries on Matsa's lepidolite samples from western Thailand.
• Excellent lithium concentrate grades obtained, and high-quality battery-grade lithium carbonate can be produced.
• Discussions on potential arrangements and cooperative exploration of Matsa's Thailand lithium project continue with Yongxing and other parties.

2023-04-04 09:20:00

MAT: Drilling Commenced At Devon Pit - Lake Carey Gold Project

MATSA RESOURCES LIMITED

• 3,500m drilling program started at Devon Pit of Matsa's Lake Carey Gold Project
• Drilling aims to finalize pit designs and potentially increase mine size
• Results will be used to complete a definitive feasibility study for an open pit mine at Devon Pit

2023-03-21 09:36:00

MAT: Strong Gold Intercepts Continue at Fortitude North

MATSA RESOURCES LIMITED

• Recent RC drilling at Fortitude North delivered significant intercepts including 14m @ 2.87g/t Au from 130m and 19m @ 3.77g/t Au from 100m.
• A 1.6km mineralised system has been identified and it is likely that additional thick, high grade shoots are still to be discovered.
• 1,518m of the 3,310m planned drilling program has been completed, with the balance expected to be finished in March 2023.

2023-02-16 09:22:00

MAT: Lithium Testing Agreement with Yongxing - Thailand Lithium

MATSA RESOURCES LIMITED

• Matsa has signed a cooperation agreement with Yongxing Special Materials Technology Co. to conduct testwork on samples from their Thailand lithium projects.
• Yongxing is one of China’s largest lepidolite miners and processors, generating sales of A$3.26B in the 2022 calendar year.
• Four producers in Jiangxi province, China, produce battery grade lithium carbonate exclusively from lepidolite.

2023-02-15 09:20:00

MAT: Excellent Preliminary Lithium Results in Westerrn Thailand

MATSA RESOURCES LIMITED

• Matsa has found 3.45% Li (7.4% Li2O) in lepidolite bearing pegmatites in Kanchanaburi and Ratchaburi Provinces, Thailand.
• 6 new Special Prospecting Licences have been acquired to capture the new lithium bearing pegmatites in close proximity to the railway line linking Thailand to China.
• Four producers in Jiangxi province, China, produce lithium carbonate exclusively from lepidolite: Yongxing Material, Jiangte Motor, Nanshi Lithium and Feiyu New Energy.

2023-02-14 09:51:00

MAT: Strong Gold Assays at Fortitude North Lake Carey Project

MATSA RESOURCES LIMITED

• Results from two reverse circulation drill holes at Fortitude North returned significant intercepts, including 26m @ 3.22g/t Au from 147m.
• Samples from a further seven holes were submitted for assay with results awaited.
• The drilling program is scheduled to be completed in February/March 2023.

2023-02-01 09:23:00

MAT: RC Drilling Commenced at Fortitude North - Lake Carey

MATSA RESOURCES LIMITED

1. Priority drilling has commenced at Fortitude North prospect at the Company’s flagship Lake Carey Gold Project.
2. Drilling will focus on the northern strike extent of the prospect to establish a maiden resource over that part of the mineralsed zone.
3. An initial 3,310m is planned for Fortitude North this first quarter.

2023-01-11 09:24:00