Matsa Resources Limited June 2012 LIMITED ABN 48 106 732 487 ASX Announcement Fraser Range North Project Farm-In Agreement Matsa Resources (ASX:MAT) ("Matsa" or the "Company") advises that it has entered into a binding term sheet with Triton Gold Limited ( Triton, ASX: TON) to earn a 90% interest in Triton s Fraser Range North Project. The Fraser Range North Project is prospective for gold mineralisation and is located in the highly prospective Albany Fraser Province. Executive Chairman Paul Poli said this farm-in represents a cost-effective opportunity for Matsa to assess the prospectivity of the province for gold mineralisation. A full description of the terms and conditions of the agreement are included in the attached Triton ASX announcement. For further Information please contact: Paul Poli Executive Chairman Phone +61 8 9230 3555 Fax +61 8 9227 0370 Email reception@matsa.com.au Web www.matsa.com.au Frank Sibbel Non-Executive Director CORPORATE SUMMARY Executive Chairman Paul Poli Director Frank Sibbel Director & Company Secretary Andrew Chapman Shares on Issue 131.17 million Unlisted Options 19.1 million @ 27.3c + Top 20 shareholders Hold 57% Share Price on 19 June 2012 15 cents Market Capitalisation $19.67 million Head Office: Suite 11, 139 Newcastle Street, Perth Western Australia 6000 Tel: +61 8 9230 3555 Fax: +61 8 9227 0370 Kalgoorlie Office: Suite 10, Vosper House, 31-33 Dugan Street, Kalgoorlie 6430 Tel: +61 8 9021 7200 Fax: +61 8 9021 7277 Bangkok Office: Unit 1808, Pacific Place 2, 142 Sukhumvit Road, Klongtoey, Bangkok Tel: +66 0 2653 0258 Fax: +66 0 2653 0258 reception@matsa.com.au www.matsa.com.au
Matsa Resources Limited June 2012 BACKGROUND About Matsa: Matsa is an ASX listed exploration and development company based in Western Australia. The Corporate office is located in Perth with offices in Kalgoorlie and Bangkok, Thailand. The Company aims to increase shareholder wealth through the discovery and development of mineral properties within Australia and South East Asia. It is committed to developing its Norseman Gold Project and associated magnetite by-product to generate cash flow for shareholder benefit. Page 2
NEW STRATEGIC PARTNER Triton Gold Limited (ASX: TON, Triton, the Company ) is pleased to advise the execution of a binding term sheet in relation to the Fraser Range North Project, which is further defined in Diagram 1, with active mineral explorer, Matsa Resources Ltd (ASX: MAT, Matsa ). In line with the new strategic direction of the Company, Matsa was considered the ideal strategic partner, given their local knowledge and expertise and the various synergies between the two companies. Matsa is an ASX listed exploration and development company based in Western Australia and is a unique resource junior boasting six projects across multiple commodities, in gold, iron ore and copper, which are strategically located in the goldfields of Western Australia and central Thailand. The Company feels the combined resources and expertise of Triton and Matsa was the most appropriate path for Triton getting the most value out of the Fraser Range North Project. The project is located in the highly prospective region of the Albany Fraser Province and this area is now known as a significant gold province with the announcement of the +5Moz Tropicana Gold Mine (AngloGold Ashanti/Independence Group JV), and exciting exploration results reported by Beadell Resources Ltd, Sipa Resources Ltd, International Goldfields Ltd and others. The introduction of a new strategic partner helps the Company to focus on developing its other assets and provides the Company the ability to continue actively considering various opportunities for new projects which will facilitate a strengthening of the Company s current portfolio of projects and future growth potential. The provisions of the Term Sheet are outlined below: Matsa will farm-in earning a ninety (90%) percent interest on the completion of an agreed exploration expenditure on the project. The Parties shall execute a Joint Venture Agreement ( JVA ). Matsa will keep the above tenements in good standing. Triton have first right of refusal should Matsa wish to relinquish any tenements. After executing the JVA parties shall contribute to the on-going costs of the Project, on the basis of their relevant interest positions held in the Project or dilute on standard industry formula.
Managing Director Brad Boyle stated: One of the reasons for forming the strategic partnership was the Matsa was because of their local experience in dealing with remote projects. Further, the Matsa Norseman Gold and Dunnville Projects showed various similarities and characteristics to the Company s Fraser Range North Project. I believe even in these tough market conditions it is an exciting time for both companies and I look forward to working with Matsa to get the most out of the Fraser Range North Project. Brad Boyle Managing Director Triton Gold Ltd For further information, please contact: Brad Boyle Managing Director Tel: +61 89215 4222 Email: bboyle@tritongold.com.au
Diagram 1: Location of Fraser Range North Project