Meridian Announces Fully Subscribed CAD 10m Non-Brokered Private Placement Financing & Outlines 2025 Programs

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Meridian Mining UK S (TSX:MNO)(Frankfurt/Tradegate:2MM)(OTCQX:MRRDF) ("Meridian" or the "Company") is pleased to announce its expanded plans for 2025 along with a strategic non-brokered private placement of CAD 10M (the "Private Placement"), fully subscribed by a single European investor increasing their stake to [12.1]%, as the Company continues towards its goal of being Brazil's next copper-gold producer.

Mr. Gilbert Clark, CEO, comments: "Meridian is now set for a potentially transformational 2025, led by its flagship project, the advanced Cabaçal Au-Cu-Ag project ("Cabaçal"). We are grateful for the considerable support from our European investor. On closing of the Private Placement, Meridian will have an enhanced working capital position well beyond the completion of Cabaçal's Pre-Feasibility Study ("PFS"), and with an expected positive report, will be substantially financed to initiate the subsequent Feasibility Study ("FS").

The PFS remains on schedule for reporting by the end of Q1 2025 and is expected to build on the confidence outlined in Cabaçal's PEA1, by increasing certainty, using a staged production expansion scenario, additional drill data, metallurgical test work, and other studies advanced and completed in 2024.

Meridian is focussed both on, developing Cabaçal's near-term potential to be Brazil's next Au-Cu-Ag mine, as well as testing the untapped exploration potential of the broader Cabaçal VMS belt ("the Belt). The potential of the Santa Helena Au-Cu-Ag & Zn deposit ("Santa Helena") as a future open-pit resource is advancing, illustrating the longer-term vision of the Company for a multiple mine along the VMS belt. Our discovery of the high-grade gold-silver VMS system in the western sector of Santa Helena in 20242, has locally changed the nature of the deposit's potential towards a more precious metal system. An extensive section of this open, high-grade gold-silver extension is hosted within the oxide and transitional layers ("Figure 2"), where Meridian currently has no metallurgical data. To avoid under-reporting the recoverable gold and silver mineralization at Santa Helena, the Company will complete additional metallurgical test work, before reporting the initial Santa Helena resource which is expected in Q2.

With the growing exploration potential of the Belt's southeastern zone centred on Santa Helena's open mineralization and its near-mine upside, Meridian will include into Santa Helena's Preliminary License submission's scope, the ability for the historical mine site to be re-established as a stand-alone processing facility, with associated infrastructure waste and dry-stack-tailing facilities.