Matador Mining Limited announced the final outstanding assay results from diamond drilling completed in late 2021 at the Cape Ray Gold Project Newfoundland, Canada. CRD318 intersected two broad mineralised corridors, which contained internal high grade gold intervals (15 metres at 2.9 g/t Au from 10 metres including 1 metre at 24.1 g/t Au, and 14 metres at 4.5 g/t Au from 88 metres including consecutive 1 metre at 27.4 g/t Au and 1 metre at 17 g/t Au intervals). These results reinforce Matador's confidence in the consistency of an interpreted higher-grade plunging shoot at the core of the WGH Mineral Resource.

This domain hosts a higher frequency of mineralised veins, with infill drilling both confirming and extending the dimensions of this zone. The positive results from CRD322 (23 metres at 2.3 g/t Au from 22 metres including 4 metre at 8.8 g/t Au) (Figure 4) demonstrate the potential for this domain to extend further south than previously recognized, and potentially link with the WGHG Granite Margin Target to the south-west. Drilling south and west of CRD322 remains broadly spaced with further infill and extension drilling planned for the 2022 summer season.

Initial drill results from the previously untested WGHG-HSP area, north-west of the WGH Mineral Resource high-grade zone, returned a significant intercept of 0.9 metre at 13.2 g/t Au from 9.4 metres (CRD313). CRD313 redrilled (twinned) another hole (CRD313A) which had to be abandoned due to drilling conditions but returned 4 metres at 3.0 g/t Au from 9 metres (incl. 2 metres at 3.9 g/t Au and 2 metres at 2.2 g/t Au) in two 2-metre sample intervals affected by core loss.

Several other holes from the WGHG-HSP drilling returned significant gold intercepts >0.5 g/t cutoff.