Matsa Resources Limited announced additional results from its December 2019 RC drilling programme which was designed to test a number of exploration targets close to the Company's Red October gold mine. The programme included 8 RC drill holes at the newly acquired Olympic target. This new target is located 800m west of the Devon project where strong results were recently announced. The Olympic target has not been previously explored by Matsa. These results reaffirm Matsa's view of the high prospectivity and potential of its Lake Carey gold project in the Eastern Goldfields of Western Australia. Results from Olympic RC Drilling: Drilling was carried out at the Olympic target during December 2019. Drill holes completed were designed to test gold mineralisation below and along strike of historic drilling and underground workings. The mineralised structure at Olympic (Olympic Lode) lies 800m west of the Devon Mine where drilling during the same drill campaign produced results including 15m @ 20.8g/t Au and 3m @ 35g/t Au. Previous tenement boundary limitations have resulted in the exploration prospectivity of the area between Olympic and Devon not being tested by drilling. Matsa's acquisition of the entire area provides an opportunity to efficiently and effectively explore the between and along strike of these two mineralised systems. The recent high grade results from drilling the hangingwall lode at Devon supports the potential for further high grade lodes to exist between Devon and Olympic areas and provides encouragement for further work in the area. Gold Mineralisation at Olympic: Olympic is located 8km south of Red October and 800m west of Devon. It is centred on a variable thickness (average 1m) quartz-sulphide bearing shear zone striking NNW and dipping 75° east over a current strike length of 500 metres. The shear is proximal and sub-parallel to the western contact of a felsic porphyry dyke within a sequence of metasediments and carbonated intermediate to mafic volcanics. Mineralised lodes appear as steeply plunging shoots within the Olympic shear zone and interpretation of historical assay data suggests mineralisation may also be present within sub- parallel hangingwall and footwall shears. A series of SE striking dextral faults cross the Olympic shear but their relationship to mineralisation is not yet understood. They may be linking faults between the Olympic shear and the Devon shear structure to the east. The Olympic and Danube mines were worked sporadically between 1897 and 1921. Available historical production reports total 1,436 tonnes @ 39 g/t for 1,805 ounces of gold. RC Drilling Programme December 2019: The December RC drilling programme was designed to test for high grade gold mineralisation at Olympic, which could, in conjunction with Devon, potentially complement gold production from Matsa's nearby Red October gold mine. Eight RC holes were drilled.