Meridian Mining Announces Option on Tin Project in Rondônia, Brazil

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[{"type":"text","content":"\n\n\n\nMeridian Mining Announces Option on Tin Project in Rondônia, Brazil\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nAMSTERDAM, The Netherlands, Dec. 19, 2016\n\n\n\n\nPotential for near-term cash flow \nRight of first refusal on central area, including the existing mine \nOption to earn up to 80% of non-explored claims\n\n\n\nAMSTERDAM, The Netherlands, Dec. 19, 2016 /CNW/ - Meridian Mining S.E. (TSX V: MNO) (\"Meridian \" or the \"Company\"), today announced that, through its wholly-owned subsidiary Brasil Manganês Corporation Mineração S.A. (\"BMC\"), it has entered into a definitive Investment Agreement (the \"Agreement\") with Cooperativa de Garimperiros de Santa Cruz Ltda. (\"Coopersanta\") and Cooperativa Metalúrgica de RondôniaLtda. (\"Coopermetal\") (together the \"Cooperatives\"), whereby BMC can earn an interest in up to three components of the Cooperatives operation. Pursuant to the Agreement, and as discussed in further detail below, BMC has the right to provide tailings reprocessing services on certain tailings to the Cooperatives; has a right of first refusal on either the acquisition of the mineral rights or the provision of underground mining services in the central area; and can earn 80% of the non-explored area surrounding the mines. \n\n\n \n \n\n \nThe Bom Futuro mine has produced more than 192,000 tonnes of tin since its discovery in 1987, and is the largest producing tin mine in the Ariquemes district. The Ariquemes District, located in Rondônia, NW Brazil has produced approximately 3% of the world's tin supply over the past 30 years.\n\n\"Similar to our manganese project, this option offers us both potential near-term cash flow through the re-processing of tailings from an existing tin mining operation, as well as longer-term exploration upside, consistent with our overall strategy for the Company,\" said Mr. Anthony Julien, President and CEO of Meridian. \"Entering into this agreement will allow us to leverage our extensive experience in Rondônia and apply the latest exploration an...

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