Inaugural Winter Drill Program Commences at Cape Ray

Matador Mining Limited (ASX: MZZ; OTCQX: MZZMF; FSE: MA3) (“Matador” or the “Company”) is pleased to announce the successful launch of its inaugural winter drill program at the Cape Ray Gold Project (the “Project”) in Newfoundland, Canada.

Highlights

• First ever winter drill programcommenced;
• 30 hole / 3,000-4,500 metre diamond drillprogram;
• Testing targets at PW East, Stag Hill, Isle aux Morts and Benton

Figure 1 Inaugural winter diamond drilling at PW East with Window Glass Hill in the background

Executive Chair Ian Murray commented:

“I would like to congratulate our exploration team and our service providers for the hard work they have put into the planning and preparation of this inaugural winter drill program. As with all exploration programs, safety and environment are front of mind. With a winter program, new potential challenges need to be planned for, which our team has done well during the preparation for this program.

In 2021, we commenced the largest ever drill program at the highly prospective Cape Ray Gold Project, with 20,681 metres of diamond drilling completed during the year. However, winter conditions in Newfoundland typically halt traditional drilling for a few months. To mitigate this, our inaugural winter drill program, which consists of around 30 diamond holes for 3,000 - 4,500 metres, will allow Matador to maintain the aggressive pace of exploration that we have established at Cape Ray, during what is typically a period of inactivity in the field.

As the winter program then segues into our 2022 summer program, Matador will prove itself as an exploration company that can successfully and efficiently execute exploration programs in all seasons, and provide investors with regular news flow throughout the year.

I look forward to updating the market of the results from this winter drill program in due course.”

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