Matsa Resources : Gold Coast Investment Showcase Presentation

Towards 1Moz and

beyond

Gold Coast Investment Showcase

Matsa Corporate Presentation | 22-23 June 2022

Disclaimer

Disclaimer and Forward Looking Statements

This presentation has been prepared by Matsa Resources Limited ("Matsa" or the "Company"). It should not be considered as an offer or invitation or inducement to subscribe for or the purchase of any securities in the Company. This presentation may contain certain "forward-looking statements" which may not have been based solely on historical facts, but rather may be based on Matsa's current expectations about future events and results. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. Actual results and developments may differ materially from those expressed or implied.

The material in this presentation is intended to be a summary of current and proposed activities, selected geological data and Mineral Resource estimates. This data is based on information available at the time. It does not include all available information and should not be used in isolation as a basis to invest in the Company. This overview of Matsa does not purport to be all-inclusive or to contain all information which its recipients may require in order to make an informed assessment of the Company's prospects. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision.

This presentation includes information and graphics relating to a conceptual mining study, completed Mineral Resource estimate and a scoping study and includes "forward looking statements" which include, without limitation, estimates of gold production based on mineral resources that are currently being evaluated.

While the Company has a reasonable basis on which to express these estimates, any forward looking statement is subject to risks, uncertainties, assumptions and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Risks include, without limitation, gold metal prices, foreign exchange rate movements, project funding capacity and estimates of future capital and operating costs. The Company does not undertake to release publicly any revisions to forward looking statements included in this report to reflect events or results after the date of this presentation, except as may be required under applicable securities regulations.

Any potential investor should refer to publicly available reports on the ASX website and seek independent advice before considering investing in the Company.

Production Targets and Forecast Financial Information

The information in this presentation that relates to production targets and financial information is extracted from ASX announcements dated 22 January 2021 (Concept Study 600,000tpa Treatment Plant Lake Carey Project) and 14 April 2021 (Devon Pit Scoping Study Delivers Excellent Results). Matsa confirms that all material assumptions underpinning the production targets and forecast financial information derived from production targets set out in those announcements, including the cost and pricing assumptions, continue to apply and have not materially changed.

Competent Persons Statements

The information contained within this presentation that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on, and fairly represents information prepared by Mr Pascal Blampain, a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy (AusIMM) and Australian Institute of Geoscientists (AIG). Mr Blampain is a Director of Matsa Resources Ltd and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves". Mr Blampain consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

Overview

Corporate Overview

DIRECTORS

Paul Poli

Executive Chairman

Mr Poli is a CPA with over 34 years of business and corporate experience. He founded Matsa Resources and has spearheaded M&A deals with Panoramic, Bulletin, Westgold, Pantoro and IGO.

Pascal Blampain

Executive Director

Mr Blampain is a geologist with over 27 years experience across Australia and Papua New Guinea having held senior positions with global miners including Barrick Gold and Goldfields Australia.

Frank Sibbel

Non-Executive Director

Mr Sibbel is a mining engineer 40 years of operational and managerial experience across mining development and production projects. He was formerly Operations Director at Tanami Gold NL.

Andrew Chapman

Executive Director & Company Secretary

Mr Chapman is a chartered accountant with 25 years experience in publicly listed companies in the mineral resources, oil and gas and technology sectors.

Ratha Kheowkhamsaeng

Thailand subsidiary Managing Director

Mr Kheowkhamsaeng holds a BA (USA) and has 25 years management experience. He is a former director of 5 Thai and Thai/Japanese companies and brings extensive experience in law, culture and business in Thailand.

Gold Resource*		Resource Grade		Top 20 Ownership
553,000 oz		1.9 g/t		60.18%
Shares on Issue		Share Price (20 June 2022)		Market Cap
358m		$0.046		$17M*

BNP Paribus Nominees 30%

Ownership

Deutsche Balaton 7%

Other Shareholders

60% Paul Poli

4%

All currency expressed in Australian dollars unless otherwise stated, existing debt $4M (from $5M facility)

* 314koz at Red October and Devon (not quoted above) subject to LGA Sale and Purchase Agreement (ASX release 20 December 2021)

Overview

2022 - A Reinvigorated Matsa

2 Significant Developments

All currency expressed in Australian dollars unless otherwise stated

1st development - $20M Divestment

$20M Partial Lake Carey Sale

Transaction

• Matsa to receive $20M in cash and shares*
• Retain 553Koz JORC resource and 385km2 (3rd largest in province)
• Red October and Devon tenement package sold (314koz @ $64/resource oz) to Linden Gold Alliance ("LGA")
• Cash injection into Matsa:
• • Upper case -> $15.5M cash + $4.5M shares = $20M
  • Lower case -> $11M cash + $9M shares = $20M
• $3M non refundable deposit already received
• C&M costs at Red October and Devon covered by LGA
• Settlement target date 30 June 2022

*Subject to ASX approvals and listing of LGA