Infill Drilling Highlights Grade Continuity and Opportunities for Further Mineral Resource Growth at Window Glass Hill

Matador Mining Limited (ASX: MZZ; OTCQX: MZZMF; FSE: MA3) (“Matador” or the “Company”) is pleased to announce infill assay results from diamond drilling completed in late 2021 for the Window Glass Hill (“WGH”) resource at the Cape Ray Gold Project (the “Project”) Newfoundland, Canada.

Highlights:

• Mineral Resource infill drilling at WGH has confirmed grade continuity, substantiating the robustness of the resource model
• Gold mineralisation remains open and untested in multiple directions at the south-west extremity of the 232,000 ounces WGH Mineral Resource, highlighting further opportunities for growth
• Holes drilled at the periphery of the resource returned better than expected mineralised intercepts, highlighting the potential for further lateral growth of the WGH MineralResource
• CRD265: 1 metre at 3.9 g/t Au from 24 metres and 2 metres at 5.7 g/t Au from 46 metres
• CRD315: 17 metres at 0.9 g/t Au from 7 metres and 5 metres at 1.1 g/t Au from 100 metres
• CRD293: 2 metres at 4.0 g/t Au from 126 metres
• CRD269: 6 metres at 1.5 g/t Au from 56 metres
• Winter drilling is progressing well at PW-East, currently focused on testing the newly identified three- kilometre north-eastern extension of the Window Glass Hill Granite (“WGHG”) immediately north of, and parallel to, the 526,000 oz Central Zone MineralResources
• Assays from 25 diamond holes from the 2021 program are expected in coming weeks

Matador’s Chief Geologist Warren Potma commented:

“The infill drilling within the WGH Mineral Resource is providing critical insights into the geometry and structural controls on gold mineralisation across the six-kilometre-long WGHG gold system. This recent drilling also confirms the continuity of mineralisation defined by the existing wider spaced resource drilling and is expected to contribute to increased future Mineral Resource classification confidence.

It is particularly encouraging to see good gold intercepts near the periphery of the current WGH Mineral Resource, reinforcing our belief in the potential for more gold to be hosted within the manifestly under-explored WGHG mineral system, where less than 15% of the six-kilometre-long WGHG has been tested by diamond drilling, despite widespread gold anomalism in rock chip and basement power auger geochemistry.

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