Matador Mining Limited provided an update on assays received relating to its summer 2022 prospecting and sampling program at the Company's Malachite target area along the Cape Ray Shear Zone ("CRSZ") in Newfoundland, Canada. Matador has focused the 2022 Canadian summer field season on following up several high priority gold targets identified in first pass till and gold grain sampling programs across the 15- by 4-kilometre Malachite area completed near the end of 2021. The summer work program included detailed prospecting, geological mapping and rock chip sampling of priority target areas, as well as selected infill till and gold grain sampling designed to deliver well constrained diamond drilling targets for the Canadian autumn 2022 drilling program, which has just been completed (assays pending). During the field program, the Company collected approximately 340 surface rock chip and float samples, along with more detailed gold and multi-element assays from the infill till and basement sampling program. The MAL01 target is the site of the best gold grain anomalies sampled at Malachite (1,201 & 716 grains3). New rock
chip assays returned a peak value of 213 ppb Au from a float sample in the same area. The target structure identified from the magnetics at MAL01 is buried under till cover with no outcrop. Additional till geochemistry sampling was completed to refine the drill target, confirming a gold-silver-arsenic-tellurium anomaly coincident with the high gold grain count anomaly over the buried target structure.