RIU EXPLORERS PERTH

19 February 2014

PAUL POLI

EXECUTIVE CHAIRMAN

ASX: MAT For

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Disclaimer

Forward Looking Statements

The material used in this presentation is intended to be a summary of selected geological data, current and proposed activities, as well as resource estimates based

on information available to Matsa Resources Limited (“Matsa” or “the Company”) at the time.

It does not include all available information and should not be used in isolation as a basis to invest in Matsa Resources.

This presentation may include information and graphics relating to a conceptual mining study, completed independent 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 risk.

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 presentation 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 publically available reports on the ASX website and seek independent advice before considering investing in the company.

Competent Persons Statements

The information in this report that relates to Exploration results, is based on information compiled by David Fielding, who is a Fellow of the Australasian Institute of

Mining and Metallurgy. David Fielding is a full time employee of Matsa Resources Limited. David Fielding has sufficient experience which is relevant to the style of

mineralisation and the type of ore deposit under consideration and the activity which he is undertaking to qualify as a Competent Person as defined in the 2004

Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. David Fielding consents to the inclusion in the report of

the matters based on his information in the form and context in which it appears.

Mineral Resources and Reserves

The information in this report that relates to mineral resources and reserves, is based on information compiled by Richard Breyley, who is a member of the

Australasian Institute of Mining and Metallurgy. Richard Breyley is a full time employee of Matsa Resources Limited. Richard Breyley has sufficient experience which is

relevant to the style of mineralisation and the type of ore deposit under consideration and the activity which he is undertaking to qualify as a Competent Person as

defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Richard Breyley consents to the

inclusion in the report of the matters based on his information in the form and context in which it appears.

¹ Exploration Targets

The estimates of exploration target sizes in this announcement are in accordance with the guidelines of the JORC Code (2004) and should not be misunderstood or

misconstrued as estimates of Mineral Resources. The potential quantity and quality of the exploration targets are conceptual in nature and there has been insufficient

exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

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Corporate Information

Significant Shareholders (as at 31 March 2013)

Shareholding %

JP Morgan 10.3

HF Resources 8.1

Paul Poli 7.31

RASL 5.88

Top 20 Shareholders 48.14

Directors

Paul Poli Executive Chairman

Frank Sibbel Non - Executive Director

Andrew Chapman Non - Executive Director & Company

Secretary

Corporate Structure

Stock Code ASX: MAT

Shares on Issue 144.15 million

Unlisted Options 8.3 million @ $0.31 - $0.45

Market Capitalisation A$31million @ $0.215

Cash and Liquids A$9 million

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Investment Concept

Pipeline of projects at varying stages of development

across diversified commodities and countries

Mt Henry Gold JV with Panoramic Resources at BFS stage

with targeted production in late 2015

Symons Hill, Nickel Copper Project, Fraser Range is in

exploration/drilling progressing in earnest

Major shareholder in Panoramic Resources, 14 million

shares sharing their exploration/production success

Well funded, substantial cash and liquid assets of A$9M

Multiple drivers for share price increase

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Project Pipeline Overview

Western Australian Projects

Mt Henry Gold JV (30%) – BFS

Symons Hill Fraser Range – Drilling

Killaloe Au and Ni (80%) – Exploration

Dunnsville Gold Project -- Exploration

Minigwal Nickel/Gold – Exploration

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Thailand Projects

Siam Copper -- Soil Sampling

Paisali Iron Ore – Ground Magnetics

KT Gold – Anomaly Definition

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Impressive Tenement Holdings 6

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Mt Henry Gold JV MAT 30%

Overview

JV with Panoramic Resources (ASX:

PAN) one of the last unmined large

open cut gold deposits in Australia

Contains combined Resource of

1.71Moz Au with over 75% indicated

being 45.09Mt at 1.18g/t Au

BFS underway and due for

completion in Q2, 2014

Significant opportunity to convert

resources into reserves

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Mt Henry Gold JV

Positive Scoping Study results

Annual production averaging

116,000oz Au pa

Initial project life of 7.25 years

~840,000oz Au production

Average operating costs ~A$930/oz

Estimated initial capital of

~A$195M (including contingency)

Potential for significant reduction in

OPEX and CAPEX given economic

conditions

Pre-tax cash flow of

A$215m at A$1,500/oz

A$425M at A$1,750/oz

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Symons Hill Regional Setting MAT 100% owned (E69/3070)

Situated 6 km south of Sirius’ Nova-Bollinger within a discrete complex part of the Fraser Zone

Structural zone highly prospective as new nickel province

Ni-Cu discoveries to date are within metagabbro sills in the Fraser Zone

Symons Hill covers 96Km2 of the Nickel prospective Fraser zone

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Nova Bollinger

World class discoveries at Sirius’

Nova/Bollinger

Much of mineralised zone is at depth

and not detectable by ground EM

surveys

Geochemistry important tool for

exploration to detect Ni-Cu halo around

massive sulphide target

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Finding similar geology and similar “halo

effect” the key to the next discovery

Mineralisation comprises, pentlandite,

chalcopyrite and pyrrhotite

Best early aircore intercepts at Nova

8m @ 1.06%Ni 0.12%Cu

7m 0.49%%Ni and 0.01%Cu

3m @ 0.45% and 0.01% Cu

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Reconnaissance aircore drilling completed

over 5 of the 6 key geochemical targets

SHG01-SHG04 and SHG06

Aircore drilling returned assays greater than

0.8% Ni and up to 1.1% Ni with co-incident

elevated Cu, Co and PGE’s at 2.5km long

Target SHG02

Nickel values of similar tenor to reported early

exploration results in weathered profile at

Nova/Bollinger

Petrography confirms existence of olivine rich

metagabbro at Target SHG02 described as

similar to host rocks at Sirius’s Nova-Bollinger

deposits

Petrography also confirms that elevated

copper assays (>100ppm) at SHG01 and

SHG02 coincide with fine disseminated

copper sulphides chalcopyrite/chalcocite

Symons Hill Aircore Drilling 11

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Reconnaissance RC drilling confirms elevated

Ni in unweathered metagabbro at SHG02

and SHG03

• 108m @ 0.27% Ni, 43ppm Cu from 12m, to

EOH SHG02

• 100m @ 0.21% Ni, 29ppm Cu from 20m to

EOH SHG02

• 56m @ 0.39% Ni, 162ppm Cu from 28m in SHG03

RC drilling also confirms higher grade Ni in

weathered metagabbro included:

• 8m @ 0.81% Ni, 82ppm Cu SHG02

• 8m @ 0.64% Ni, 404ppm Cu SHG03

Ni-enriched olivine-bearing metagabbro

observed at SHG02 similar to host rocks at

Nova Bollinger

Downhole EM in progress in all RC holes

drilled to date

12 Symons Hill RC Drilling

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Nova-Bollinger interpreted to be hosted by a doubly-plunging synformal metagabbro unit (“The Eye”)

All 6 of Matsa’s key targets (SHG01-SHG06) are located within extensive complexly folded metagabbro units

• 4 targets occur within Interpreted Symons

Hill dome (SHG02, SHG03, SHG04 and SHG06)

• 2 occur in separate structures outside of the dome (SHG01 and SHG05)

Metagabbro units including SHG05, extend southwards towards Sheffield Resources Sleeper-Stud-Earlobe discoveries

Ni-enriched olivine-bearing metagabbro observed at SHG02 similar to interpreted feeder zone host rocks at Nova Bollinger

Complexly folded olivine-bearing metagabbro considered high priority targets

Targets included gravity anomalies which coincide with conductors and also geochem targets

Symons Hill Structural Study 13

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Exploration in Full Swing with multi crews

currently on site with near term results

New targets in the metagabbro include

previously identified EM conductors which

have been significantly enhanced by the

interpretation

Aircore drilling programme has been

substantially increased from 8,000m to

14,400m in order to test new targets

Additional ground EM surveys underway to

test newly identified bedrock conductors

close to the prospective metagabbro unit

Limited IP (Induced Polarisation) surveys

proposed to explore for disseminated

sulphides searching for “Halo effect”

Deep diamond drill targets currently being

developed using the new structural

interpretation

Symons Hill Exploration 14

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Killaloe MAT 80%

Killaloe project 94km2, 20km NW of

Norseman. Adjacent to Sirius

Resources Polar Bear Project

Appears to be extension to the

Kambalda Ni and Higginsville gold

trend

Original focus on gold mineralisation in

trucking distance Mt Henry Gold Mill

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Killaloe - Gold Drilling has intersected broad zones of

anomalous gold at Gossan E with

48m @ 0.28g/t Au from 4m depth

including 1m @ 7.24g/t Au, and 1m @

2.74g/t Au in (13RC004)

3 aircore drill holes at KLGT02 intersected

anomalous gold value

2m @ 0.68g/t Au from 16m to end of

hole, being a possible extension of

Sirius Resources’ Polar

Bear/Humphrey prospect (13AC024)

2 drillholes intersected anomalous

gold values including 4m @ 0.33g/t Au

being a possible NW extensions to

Gossan E (13KAC005)

New explorations currently being designed

to test new discoveries

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Gossan E

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Killaloe – Nickel/Base Metals Could signify a large system for base

metals

Previously identified magmatic Ni

Sulphide minerals but RC drilling

discovered highly anomalous zinc results

18m @ 1.05% Zn from 96m

including 1m @ 8.04% Zn and

5.1g/t Ag and 4m @ 4.2% Zn (13KC50)

28m of 0.26% Ni, 0.027% Cu,

0.039% Co from 24m including

strongly anomalous values 3m of

0.5% Ni, 0.08% Cu and 0.10% Co (13KC26)

20m @ 43ppb Pd and 53ppb Pt

from 76m including 4m @ 59ppb

Pd and 102ppm Pt from 80m and

12m @ 56.5ppb Pd and 67ppb Pt

3m @ 85ppb Pd and 97ppb Pt

(13KC58)

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Gossan E

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Minigwal - Nickel Matsa 100% tenements for 593km2

Sandwiched between the St George

Minerals’ Ltd Cambridge Project and

Impact Minerals Ltd Mulga Tank

Project

4 large areas of structural

complexity prospective for gold

at Minigwal South

several extensive komatiite

units prospective for Ni

8 targets already prioritised for

immediate follow up ground EM

First pass soil and MMI sampling

program to commence in

underexplored area with high

prospectivity

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Dunnsville Gold

Large tenement holding ~304km2 over zone favourable for gold mineralisation

Discovered at least three gold in soil anomalies with combined length > 10km

Drill results include grades of up to 7.85g/t

Infill and regional soil sampling programme totalling 419 samples complete

4 hole diamond drilling programme to test for vein hosted gold mineralisation complete

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Other Projects

Thailand Projects

Siam Copper

Paisali Iron Ore

KT Gold

Other projects currently under review in Western Australia

Dundas Iron Ore

Kurnalpi (Nickel)

Binneringie (Nickel)

Zanthus (Gold)

Fraser Range North

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Contact Information:

Paul Poli

Executive Chairman

Suite 11, 139 Newcastle Street

Perth, Western Australia 6000

+61 8 9230 3555

reception@matsa.com.au

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