Matsa Resources Limited announced assay results from recent Reverse Circulation (RC) drilling at the Company's Olympic Prospect, which forms part of the Devon gold mine project area, and is located 800m west of the Devon pit within the Lake Cary Gold Project in the Eastern Goldfields of Western Australia. The RC drilling program at Olympic comprised a total of 12 holes (20ODRC009-20ODRC020) for 1,437m of drilling. Drilling was designed to follow up higher grade mineralisation interpreted from RC drilling carried out late 2019. This drilling program was carried out as part of Matsa's stated objective of increasing the Company's resource base within the Lake Carey gold project through the discovery of new gold mineralisation. Drilling was designed to further test the resource potential at Olympic in terms of the continuity and strike extent of gold mineralisation and the distribution of thicker and higher grade mineralisation. New drill results which include further high grade intersections, have confirmed continuity of gold mineralisation over a distance of 500m which remains open along strike and at depth. Interpretation and comments on drilling results can be summarised as follows: Gold mineralisation occurs in a zone of steeply ENE dipping quartz sulphide lodes along a NNE trending shear zone. Mineralisation is typically <1m thick, over a strike extent of ~500m and is developed in a basaltic volcanic sequence containing interflow iron rich chert units. Lenticular felsic porphyry intrusives are associated with the mineralization; Most drilling to date has intersected mineralisation to a depth of ~75m below surface, and has confirmed multiple mineralised shoots of thicker and/or higher grade gold mineralisation which coincide broadly with the historic workings. Further drilling is required to define the geometry and extent of the higher grade and thicker mineralization. Recent deeper drilling below the historic Olympic workings (20ODRC019 2m @ 6.35 g/t Au from 169m) has demonstrated that this mineralised shoot continues at depth and remains open. This may also apply to the mineralised shoot adjacent to the Danube workings Much of the mineralised trend is concealed beneath a waste dump from recent mining (2015/2016) at the Devon pit which is not expected to impede development High grade intercepts from recent drilling at Olympic have the capacity to enhance the development potential of a combined mining project based around the Devon pit, Olympic, Hill East and a number of early stage exploration targets. All assay results have been received from the 12 RC drill holes completed in the most recent round of drilling. These assays were subject to ongoing industry-wide delays caused by the substantial increase in drilling activity seen in Western Australia in recent months.