Matsa Resources Limited announced the completion of its highly successful mining operations at the Red Dog gold project in Western Australia's Eastern Goldfields. Mining operations at the Red Dog project were completed in late November 2018, and haulage of ore to the Sunrise Dam Gold Mine (SDGM) under Matsa's ore purchase agreement with AngloGold Ashanti Australia Limited (AGAA) was completed in late December. The mining at Red Dog has delivered an outstanding result, generating production of 12,704 ounces and an operating profit of $5.5 million ­ which exceeds the target set down in the Company's Red Dog Mine Study of July 2018. The Red Dog gold project result is further demonstration of the successful execution of Matsa's small-scale gold mining and revenue generating strategy at its wider Lake Carey gold project area in WA's Eastern Goldfields, and comes after the successful completion of Stage 1 mining operations at the Fortitude gold project in 2018.

As a result of the highly successful outcome of Matsa's mining operations at the Red Dog gold project, the Company's board determined to pay a maiden dividend to shareholders of 1 cent for every 5 shares held (0.2 cents per share).