Meridian's PFS Drill Program Returns Multiple Wide, Shallow Mineralized Intercepts at Cabaçal

Meridian Mining UK. S announced that the ongoing Pre-Feasibility Study drill program continues to produce robust results at its Cabacal Au-Cu-Ag deposit. The ongoing PFS drill program continues with the aim to convert in-pit resources to higher classifications and increase confidence in the Cabacal project.

Strong results of gold-copper-silver mineralization including CD-400's 25.8m @ 1.4 g/t AuEq including 9.5m @ 2.9 g/t AuEq reported by Meridian Mining; Meridian drills zones of gold and copper at Cabacal grading up to 9.5m @ 2.,9 g/t AuEQ; Results recently received included infill holes drilled from the Cabacal Northwest Extension ('CNWE'), and historical Cabacal mine area. These results form part of the PFS process that is a crucial phase in the development and growth of the project. Drill results from the CNWE were returned from the 25m infill program.

Results include: CD-395: 10.9m @ 1.3 g/t AuEq (0.3 g/t Au, 0.8% Cu & 1.1 g/t Ag) from 43.7m; Including: 4.1m @ 2.8 g/t AuEq ("0.2 g/t Au, 1.8% Cu & 2.9 g/t Ag) from 50.0m; CD-396: 15.6m @ 0.8 g/t Au Eq (0.2 g/t Ag) from 126.1m; CD-404: 20.4m @ 1.1 g/t AuEq(0.4 g/t Au,0.5% Cu & 0.8 g/t Ag); including 101.2m; Including: 3.8m @ 3.6 g/t AuEQ (1.3 g/t Au), 1.7% Cu & 2.2 g/t Ag), from 113.5m; and CD-413: 8.4m @ 1.5 g/t AuEq.0 g/t AuEq® (0.2 g-t Au, 0.9% Cu & 1.8 g/t Ag) from 73.7m. Highlights from recent drilling and field mapping at the Cabacal deposit. As part of the data generation requirements for its pre-feasibility study of the Cabacal project, Meridian has commissioned the independent geotechnical consultancy, Fundacao Luiz Englert, to undertake a geotechnical study of the Cabacal pit in order to deliver enhanced confidence to the assumptions that were used in the Cabacal pit completed in March 2023.

Mining lower volumes of waste rock would benefit the operating costs for the project as well as result in smaller areas required for the storage of waste rock. The Preliminary Economic Assessment technical report dated March 30, 2023, entitled: "Cabacal Gold" and "Cabacal Gold Project".