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ASX Announcement 8 June 2022 ASX: MZZ; OTCQX: MZZMF; FSE: MA3 Matador Mining Limited ABN 45 612 912 393 ASX:MZZ; OTCQX: MZZMF; FSE: MA3 Level 20, 140 St George’s Terrace Perth, WA, 6000 T: [phone] www.matadormining.com.au [e-mail] 1 Matador Mining Identifies Eight Additional High-Tenor Gold Anomalies at Malachite Matador Mining Limited (ASX: MZZ; OTCQX: MZZMF; FSE: MA3) (“Matador” or the “Company”) is pleased to report the outstanding results from an extensive till sampling program completed in late 2021 near the Cape Ray Gold Project (the “Project”) in Newfoundland, Canada. Highlights: • Eight additional high-tenor gold grain anomalies identified in the western side of the 15 x 4 kilometre Malachite structural target area • 336 gold grains recovered in one till sample collected 470 metres south of the Cape Ray Shear Zone (“CRSZ”) containing 76 pristine gold grains indicating the sample was taken close to the gold source • A total of 17 high-tenor gold grain anomalies have now been identified at Malachite, including the 716 gold grain samples previously reported1 Figure 1: Remaining one third of the till-HMC gold grain analysis samples together with previously reported gold grain analyses 1 ASX announcement 20 April 2022 Page 2 of 14 Matador’s Managing Director and Chief Executive Officer, Sam Pazuki said, “The final batch of till-samples from Malachite has further confirmed how prospective we believe this new area to be. Finding gold grains in these numbers, and with so many in pristine condition, is highly encouraging and suggests we could have goldbearing structures in bedrock very close to the sample location.” “Matador has one of the largest tenement packages in Newfoundland and these new geochemical anomalies identified at Malachite are a primary driver for our recent decision to test the greater potential of this multimillion-ounce gold belt.” “The Malachite area is underexplored with no exploration drilling to-date and only a fraction of the area sampled. We are planning our summer exploration program in which we will conduct extensive field work, primarily at Malachite, to identify specific areas in which to diamond drill and expect this drilling to commence this summer.” “Newfoundland remains one of most underexplored tier-one jurisdictions globally and we are well positioned on the largest and currently most highly endowed gold structure on the island to make new discoveries.” Till sampling and gold grain analysis from heavy mineral concentrates 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 ( Figure 11). 2 Refer to Appendix 1 - JORC Table 1 for description of sampling and analysis methods 3 ASX announcement 20 April 2022 Page 3 of 14 Figure 2: New peak anomalous gold grains (>10 grains) reported in this release over geology interpretation with 2021 till arsenic anomalies and historic high tenor silver in soils Figure 3: Peak Till-Heavy Mineral Concentrate gold grain counts with pathfinder element anomaly contours Page 4 of 14 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. This announcement has been authorised for release by the Company’s Board of Directors. To learn more about the Company, please visit www.matadormining.com.au, or contact: Sam Pazuki – Managing Director & CEO Alex Cowie – Investor Relations Phone: [phone] Phone: [phone] Email: [e-mail] Email: [e-mail] Twitter: @MatadorCEO About the Company Matador Mining Limited (ASX: MZZ; OTCQX: MZZMF; FSE: MA3) is a gold exploration company with tenure covering 120 kilometres of continuous strike along the highly prospective, yet largely under-explored Cape Ray Shear in Newfoundland, Canada. In November 2021 Matador was the recipient of the CIM NL Prospector/Explorer of the Year award. The Company released a Scoping Study which outlined an initial potential seven-year mine life, with a forecast strong IRR (51% post Tax), rapid payback (1.75 year) and LOM AISC of US$776/oz Au (ASX announcement 6 May 2020). Matador acknowledges the financial support of the Junior Exploration Assistance Program, Department of Industry, Energy and Technology, Provincial Government of Newfoundland and Labrador, Canada. Page 5 of 14 Reference to Previous ASX Announcements In relation to the results of the Scoping Study which were announced on 6 May 2020, Matador confirms that all material assumptions underpinning the production target and forecast financial information included in that announcement continue to apply and have not materially changed. In relation to the Mineral Resource estimate announced on 6 May 2020, the Company confirms that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. In relation to the exploration results included in this announcement, the dates of which are referenced, the Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. Competent Person’s Statement The information contained in this announcement that relates to exploration results is based upon information compiled by Mr Warren Potma, who is an employee of Matador Mining Limited in the position of Chief Geologist. Mr Potma is a Member of the AIG and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code 2012. Mr Potma consents to the inclusion in the announcement