Matador Mining Limited reported the outstanding results from an extensive till sampling program completed in late 2021 near the Cape Ray Gold Project in Newfoundland, Canada. The Malachite area is situated in the centre of Matador's 120-kilometre-long Cape Ray Shear tenement package, and specifically on the largest structural bend along this multi-million-ounce corridor which hosts Marathon Gold's 4.8 Moz Au Mineral Resource and Matador's 837 koz Au Mineral Resource. The area is geologically complex, with a large array of interpreted faults and shear zones splaying off the CRSZ and wrapping around multiple intrusions and other prospective host rocks.

Towards the end of 2021, Matador completed an extensive till sampling program across Malachite, covering an area of 15 x 4 kilometres, which is an area larger than that hosting the 4.8 Moz Valentine Lake project to the north. The Malachite structures were revealed through a detailed magnetic survey completed in 2021 with data received and interpreted late in the year. In addition to conventional one-kilogram till geochemistry samples collected at a 400 x 100 metre spacing, 12- kilogram till samples were collected on a 400 x 400 metre sample location grid which were submitted for gold grain analysis2 (completed for Matador by Overburden Drilling Management Ltd).

Two thirds of the gold grain results were previously reported on 20 April 2022, with those results identifying nine high-tenor gold grain anomalies, three of which were at the edge of the survey area and open in multiple orientations3. Of the nine anomalies identified, one sample at the northern edge of the survey area returned a gold grain count of 716 grains, including 607 pristine grains indicating the sample was likely taken less than 100 metres from the basement gold source. This sample was taken proximal to the junction of second and third order fault splays 2.9 kilometres north of the CRSZ.

The remaining gold grain analyses being reported reveal an additional eight high-tenor gold anomalies in the western portion of the program area with one sample 400 metres to the south of the CRSZ at the edge of the survey area returning a count of 336 gold grains (including 76 pristine grains). To the north-west, another sample returned 57 pristine gold grains from a total of 62 grains, 2.5 kilometres north of the CRSZ. Multiple field crews are scheduled to infill and extend till sampling around the priority anomalies, as well as refining future diamond drill targets using Matador's power auger basement geochemistry core sampling methodology.