NEW GOLD TREND EMERGES AT LAKE CAREY

AngloGold Ashanti drilling identifies a mineralised gold trend extending more than 2km on Matsa’s Lake Carey tenure

Matsa Resources Limited (ASX:MAT) has reported that AngloGold Ashanti has identified a significant mineralised gold trend extending over a strike length of more than 2km on tenement M39/599 at the Lake Carey Gold Project in Western Australia.

The update follows drilling completed by AngloGold Ashanti under the Tenement Option Agreement announced in February 2025. A total of 41 holes have now been drilled for 11,355 metres, comprising a mix of reverse circulation, diamond core and diamond tail drilling. Assay results have been received for 34 holes.

Among the strongest reported intersections were:

14m at 3.13g/t gold from 153m, including 6.0m at 5.54g/t gold from 153m and 2.0m at 4.51g/t gold from 275m (TYRC089D)
1.0m at 10.87g/t gold from 238m, with 2.0m at 7.59g/t gold from 46m and 1.0m at 5.19g/t gold from 38m (TYRC088D)
1.0m at 8.79g/t gold from 217m and 1.0m at 5.78g/t gold from 146m (TYDD037)
2.0m at 8.3g/t gold from 250m (TYRC079D)
1.0m at 6.14g/t gold from 375m, with additional intersections of 1.0m at 4.23g/t gold from 144m and 1.0m at 4.18g/t gold from 314m (TYDD080D)

Matsa said its interpretation of the drilling indicates a mineralised gold trend extending for more than 2km, with the program still at an early stage. The company also noted that AngloGold Ashanti’s drilling on the adjacent tenement has extended along the shared boundary, supporting further investigation of the broader area.

Executive Chairman Paul Poli

AngloGold Ashanti have been quite active in this area and has conducted geophysical (gravity) surveys, flora, fauna and heritage surveys and has now completed a substantial drilling program over the past six months. The 3rd and final option instalment, prior to exercise, was received last week and announced to the market on Thursday the 18th June.

Drilling and assay results so far, are encouraging and it is clear from some of the depths of the drilling that Anglo are reaching, they are quite serious about the project and what they are aiming to achieve. Obviously, they are being thorough.

Whilst it is still early in the program, it appears that mineralisation has been intersected over a sustained strike length. Furthermore, the drilling AngloGold Ashanti completed on their adjacent tenement also extended along the boundary. Based on these observations, it suggests that AngloGold Ashanti’s findings warrant further investigation.

Matsa has a great working relationship with Anglo, and we look forward to seeing them continue their exploration efforts on these tenements. I look forward to providing further results as they become available to Matsa.