Matador Mining Limited announced new diamond drilling results for the Cape Ray Gold Project (the "Project") in Newfoundland, Canada. All results are from infill drilling of the Window Glass Hill ("WGH") Inferred Mineral Resource and are designed to increase resource classification confidence. The WGH 46-hole program was designed to infill the broad-spaced WGH Mineral Resource drill pattern down to 40 metres x 40 metres (or closer) to facilitate the conversion of resource classification from Inferred to Indicated. Assays for the first 11 holes of the recent program are reported here, with assays for a further 10 holes pending. The grades and widths of significant intercepts reported here are consistent with existing wider-spaced drilling into the deposit. This, combined with comparable vein orientations obtained from the orientated diamond core, reinforces its confidence in the geological model and the interpreted gold lode geometries, grade and continuity. One rig is actively drill-testing greenfield targets at Big Pond generated from the detailed magnetics and recent positive power auger basement geochemistry results. The second rig is following up on the exciting initial results from the WGH Granite Margin Target6. Results of this drilling are expected to be reported in the December 2021 quarter. The two power-auger (ATV Winkie Drill) crews have been deployed to Stag Hill. This area is between two to four kilometres north-east along strike from the Central Zone Mineral Resources on the main mineralized trend and has never been tested by diamond drilling. Past surface geochemistry sampling (soils and tills) in this area is considered ineffective as the prospective structure is buried beneath two to eight metres of transported glacial till cover and the basement rocks have never been sampled. Given the slightly deeper cover, and three kilometres of prospective strike length along the main structure, results of this power auger exploration program are expected to be delivered in tranches through the December 2021 quarter. Matador's three backpack drill sampling crews have been re-assigned to complete a broad first-pass surface till sampling program covering a large (44km2) area of previously unexplored ground north of the Malachite Lake Target area. This new target area was identified following preliminary interpretation of the detailed aeromagnetics dataset acquired earlier in 20217, and is located within the new claims pegged earlier this year. These new detailed magnetic data reveal significant structural complexity and high priority gold exploration targets relating to fault splays off the Cape Ray Shear Zone. This area has never been surface-sampled or drilled and represents a virgin exploration target area that has emerged from analysis of the newly acquired aeromagnetic data. Results from this broad first pass till sampling program are anticipated throughout December and March quarters in time to design follow-up work for the June 2022 quarter. Extended turnaround times for these data are likely given the requirement for expert heavy mineral separation, gold grain and indicator mineral analysis of the till samples, a specialist service which is currently in high demand across Canada.