Slide 1: A Vibrant and Growing Gold Producer in a World Class District
A Vib rant and Gro w ing Go ld Pro d ucer in a W o rld Class Dist rict Sydney GAIC 2019 Paul Poli Executive Chairman
Slide 2: Important Notice
IMPORTA NT NOTICE Disclaimer and Forward Looking Statements Competent Persons Statements This presentation has been prepared by Matsa Resources Limited (“Matsa” or the “Company”). Exploration Results It should not be considered as an offer or invitation or inducement to subscribe for or the The info
Slide 3: Corporate Overview
CORPORA TE OVERVIEW CORPORA TE SNA PSHOT TICKER SHARES ON ISSUE UNLISTED OPTIONS MARKET CAPITALISATION CASH AND LIQUIDS ASX:MAT 216.92 22.4M A$30.37M ~A$8.36M @ $0.17 - $0.30 @ $0.14 (23rd Oct 2019) (21 Oct 2019) SIGNIFICA NT SHA REHOLDERS SHA REHOLDING ( A S A T 23 t h Oct 20 19 ) MA T: TW ELVE MON
Slide 4: Why buy Matsa?
W hy b uy Mat sa? Because w e’re o n t he m o v e! MA TSA RESOURCES INVESTOR PRESENTA TION 4
Slide 5: Western Australian Project Portfolio
W ESTERN A USTRA LIA N PROJECT PORTFOLIO Red October Gold Mine Mining Ongoing 99,000 oz Au Fortitude Gold Mine Mining to Start 342,600 oz Au Lake Carey Gold Project Drilling Ongoing 563km2 Symons Hill Nickel Project Exploration 56km2 Lake Rebecca Gold 20% JV Exploration 171km2 MA TSA RESOURCES INVES
Slide 6: Matsa's Gold Resources
MA TSA ’S GOLD RESOURCES Build ing Go ld Reso urces at Lake Carey Build ing Go ld Reso urces at Lake Carey INDICATED INFERRED TOTAL RESOURCE Tonnes (kt) Au (g/t) Tonnes (kt) Au (g/t) Tonnes (kt) Au (g/t) Au (Oz) FORTITUDE * 2,945 1.8 2,503 2.1 5,449 2 342,600 RED OCTOBER ** 340 4.5 106 14.7 446 6.9
Slide 7: Lake Carey Gold Project
LA KE CA REY GOLD PROJECT World class gold mines nearby Sunrise Dam >10Moz Wallaby >7Moz Granny Smith >2Moz Access to available infrastructure Underground mining at Red October Mining of ore commenced in June with ore deliveries in July, mining continuing Open pit mining to start at Fortitude Trial
Slide 8: Proven Capacity to Mine Successfully
PROVEN CA PA CITY TO MINE SUCCESSFULLY Proven development capability - Red Dog Mine A$5.4M cash surplus, delivered on time and on budget - Fortitude trial mine A$700,000 cash surplus, excellent knowledge base for larger Stage 2 mine AngloGold Ashanti relationship - Excellent working relationship und
Slide 9: Red October Gold Mine
RED OCTOBER GOLD MINE 100% Matsa owned and operated - Red October is a high-grade narrow vein structurally controlled gold deposit with significant exploration potential - Historical production of 342,000 oz gold at an average of 6.1g/t U/G Resource 85,000 oz @ 13.6 g/t gold - Mine has been fully ma
Slide 10: Red October Gold Mine
RED OCTOBER GOLD MINE Initial phase AISC of approximately A$1,300 per ounce - Anticipated Cash surplus ~ A$4.075M at A$1750/oz gold - New drilling is expected to extend mining beyond this initial 7 month phase - Mining studies indicate 27 resource targets having potential for mining after initial 7
Slide 11: Red October Gold Mine
RED OCTOBER GOLD MINE Underground Mining Ongoing - Waste mining started April - Ore mining started June 2019 - Ore Delivery commenced July 2019 - Mining plan ~57,000t of ore at 5.6 g/t Au for 10,222 oz gold New 6 month Drill Programme Mining t Ongoing now Commenced - Targeting new high shoots - Test
Slide 12: High Grades at Red October Gold Mine
HIGH GRA DES A T RED OCTOBER GOLD MINE High grade results from previous round drilling Red October Shear Zone “ROSZ” 1.60m @ 36.90g/t Au 4.32m @ 16.30g/t Au 2.84m @ 15.95g/t Au 6.30m @ 4.54g/t Au ROSZ Bonanza grade intercepts North decline 0.81m @ 181.50g/t Au in HW 362 lode 1.33m @ 40.51g/t Au in H
Slide 13: Red October Gold Mine Infrastructure
RED OCTOBER GOLD MINE INFRA STRUCTURE MA TSA RESOURCES INVESTOR PRESENTA TION 13
Slide 14: Red October Gold Mine Mined Areas
RED OCTOBER GOLD MINE MINED A REA S MA TSA RESOURCES INVESTOR PRESENTA TION 14
Slide 15: Red October Gold Mine Future Mining Potential
RED OCTOBER GOLD MINE FUTURE MINING POTENTIA L MA TSA RESOURCES INVESTOR PRESENTA TION 15
Slide 16: Red October Significant Exploration Upside
RED OCTOBER GOLD MINE SIGNIFICA NT EXPLORA TION UPSIDE Substantial underground targets - Targets outside of the underground resource, already identified for diamond drilling - Drill targets such as Bruce Lode, Nemo and Eastern Breaks represent exciting targets for near mine mineralisation - Extensio
Slide 17: Red October Exploration Upside
RED OCTOBER GOLD MINE EXPLORA TION UPSIDE High priority surface exploration targets identified from past exploration data * - Aircore intercepts along strike from Red October Gold Mine up to 2.49 g/t Au - Aircore intercepts at Nautilus up to of 5.98 g/t Au over distance of 3km - Aircore and RC inter
Slide 18: Fortitude Stage 2 Gold Mine Set to Proceed
FORTITUDE STA GE 2 GOLD MINE SET TO PROCEED - Trial Mine result provides high confidence of - Mine life has strong potential to grow from new gold resource and metallurgical recoveries optimisations - Feasibility and re-optimisations of Stage 2 now - Interest from nearby treatment plants increasing
Slide 19: Fortitude Stage 2 Mine Studies
FORTITUDE STA GE 2 GOLD MINE MINE STUDIES Stage 2 Mine Study Results Month surplus and cash flow $7,000,000 $25,000,000 - Total cash surplus A$21.8M $6,000,000 - 22 months open pit mine life $20,000,000 $5,000,000 - Production of 54,400 oz gold at 93% $15,000,000 recovery $4,000,000 $10,000,000 MONT
Slide 20: Fortitude Stage 2 Timeline
FORTITUDE STA GE 2 GOLD MINE TIMELINE Mining Activities Time Line - New Mine Manager appointed - Dewatering of existing Pit - November - Re-optimise mine pit design – November - Ore treatment option - November - Financing package - November - Call for contractor tenders - November - Expand professio
Slide 21: Lake Carey - Exploration Upside
LA KE CA REY - EXPLORA TION UPSIDE 563km2 highly prospective tenement package - In the Laverton tectonic zone near world class gold mines - Considerable scope for regional exploration success, with early drilling demonstrating opportunities - Areas covered by salt lakes with little or no exploration
Slide 22: Lake Carey - Exploration Upside
LA KE CA REY - EXPLORA TION UPSIDE New drilling throughout Lake Carey set to commence - Previous Matsa drilling - 46,531m of aircore drilling, - 2,142m of RC drilling - 3,578m of diamond drilling since 2016 - Majority of the drilling has been on targets in and immediately adjacent to Lake Carey - Re
Slide 23: Lake Carey - Fortitude North
LA KE CA REY- FORTITUDE NORTH Previous Drilling results Fortitude North Diamond intercepts include: 8m @ 2.94 g/t Au Inc 5.75m @ 3.8 g/t Au Inc 1.3m @ 6.73 g/t Au Down-dip extension of previous high grade gold intercepts include 5m @ 5.46 g/t Au 8m @ 5.14 g/t Au Aircore intercepts include 47m @ 2.55
Slide 24: Lake Carey - Fortitude North
LA KE CA REY- FORTITUDE NORTH MA TSA RESOURCES INVESTOR PRESENTA TION 24
Slide 25: Well Funded and Full Steam Ahead
W ELL FUNDED A ND FULL STEA M A HEA D A CLEAR AND COMMITTED PORTFOLIO OF QUALITY GOLD GROWTH PLAN from mining TARGETS with aggressive exploration operations and extensive exploration program aimed at increasing gold tenement package resources and mine life Process begun of ENGAGING WITH MANAGEMENT H
Slide 26: Contact
CONTA CT Paul Poli Executive Chairman Suite 11, 139 Newcastle Street Perth, Western Australia 6000 +61 8 9230 3555 reception@matsa.com.au MA TSA RESOURCES INVESTOR PRESENTA TION 26