Bulletin Resources Limited set to acquire 80% interest in Matsa Resources (ASX: MAT) Hodgkinson Basin Gold Project

KEY TAKEAWAYS:

• Bulletin Resources Limited enters a Sale and Purchase Agreement with Territory Minerals Limited for the acquisition of 80% interest in the Hodgkinson Basin Gold Project.
• The project is estimated to accommodate 618,000 ounces of gold and 11,000 tonnes of antimony covering 784 square kilometres of land.
• The acquisition will be made in staged payments over 30 months, with a total amount of
  $1.65m.

Bulletin Resources Limited has announced the entering of a Sale and Purchase Agreement with Territory Minerals Limited for the acquisition of 80% interest in the Hodgkinson Basin Gold Project in NorthQueensland, Australia. The project, located in a known gold district, covers 784 square kilometres of land with an estimated 618,000 ounces of gold. The Project also consists of 11 Mining lease and 19 Exploration Permits for Minerals (EMP). The acquisition agreement includes a small warehouse with general facilities as well as an office in Cairns.

Bulletin expects the gold project to result in a positive return of capital to shareholders and will create significant shareholder value over time. The project also has an estimated 11,000 tonnes of antimony, and the project offers the opportunity to build on these gold and antimony mineralisations. Bulletin must pay $1.65m over a 30-month plan or in full to earn 80% equity participation. Bulletin also has the right to withdraw from the project at any time. The acquisition is subject to a purchase review and shareholder approval.

About Matsa Resources Limited (ASX: MAT)

Matsa is an ASX listed explorer/developer who has become a gold producer following the acquisition and development of the Fortitude gold mine. Fortitude forms part of the Lake Carey gold project south of Laverton. Matsa has a pipeline of quality projects within Australia and central Thailand. Matsa has recently acquired the Red October Gold mine near Lake Carey which boosts the mining potential within the area.

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