Slide 1: Technical Presentation: Cabaçal
Technical Presentation: Cabaçal presents a compelling opportunity for a standalone mining operation within underexplored 50km VMS belt Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM meridianmining.co
Slide 2: Cautionary Note Regarding Forward-Looking Statements
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation does not constitute or form a part of, and should not be construed as an offer, solicitation or invitation to subscribe for, underwrite or otherwise acquire, any securities of Meridian Mining UK Societas (“Meridian”), nor shall i
Slide 3: Table of Contents
TABLE OF CONTENTS 1. Meridian Introduction Slides 4-8 2. Cabaçal a. Geology i. Resource Slides 10-15 ii. Cross-Sections Slides 17-45 iii. Angled Drilling Slides 47-52 iv. Unsampled Zones Slides 54-57 b. Metallurgy Slides 59-62 c. Preliminary Economic Assessment Slides 64-73 d. Belt Scale Exploration
Slide 4: Meridian Highlights
M ERIDIAN H IGHLIGHTS Developing the next polymetallic mining belt in Brazil 1 See News Release 6th March 2023 Notes: Base Case PEA Low Initial Capital Cost After Tax NPV5 USD 573 M & IRR 58.4% USD 180 M Low All-in-Sustaining-Costs (AISC) Industry leading Payback USD 671 / oz (Year 1-5) 10.6 months
Slide 5: Brazil - Top Tier Mining Jurisdiction
B R A Z I L - T O P T I E R M I NI NG J UR I S DI CT I ON C A B A ÇA L : Development Priority - largest Cu-Au VMS project in Brazil; one of the largest in South America E SP I GÃ O : Exploration Upside - large IOCG exploration target comparable to Carajás and Olympic Dam ESPIGÃO C A B A ÇA L Technic
Slide 6: Corporate Information
C OR P OR A T E I NFOR M A T I ON - M E R I DI A N M I NI NG U K S Corporate Structure1 Meridian Mining UK S Shares Outstanding 202.8 m Compensation Warrants 0.5 m (CAD 0.35) TSX OTCQB Frankfurt MNO MRRDF 2MM 18.1 m Options (CAD 0.07-1.10) Fully Diluted 221.4 m CAD 0.43 Share Price (13 March 2023) M
Slide 7: Meridian Leadership
M E R I DI A N L E A DE R S HI P G I L B E RT C L A RK MARTIN MCFARLANE JOEL BRANDAO Executive Chairman President Manager, Director of Brazil +25 years experience + 30 years experience + 40 years experience A D R I A N M C A RT HU R SORAIA MORAIS FREDERIC VANDEROOST CEO & Director Chief Financial Of
Slide 8: Meridian Advisory Board
M E R I DI A N A DV I SO R Y B O A R D Cabaçal History BP Minerals Rio Tinto Discovery Development Production Acquisition 1980-1984 1984-1986 1986-1991 1989-2005 AFONSO ROCKY G I L SO N JO HN F I G U E I RE D O OSBORNE T E I X E I RA W A G HO RN Geologist Geologist Geologist Geologist + 50 years + 4
Slide 9: ESG Clean Industrial Renewable Energy
ESG CLEAN I NDUSTRIAL R ENEWABLE ENERGY Regional Hydroelectric 2 www.frontiersin.org/articles/10.3389/fenvs.2020.579031/full Generation1 Source: 1 www.quebecengenharia.com.br/complexo-juruena Jaurú Cascade2 235.9 MW (6 Facilities) Juba Cascade2 139.4 MW (4 Facilities) Governing ESG Philosophies a LO
Slide 10: Table of Contents
TABLE OF CONTENTS 1. Meridian Introduction Slides 4-8 2. Cabaçal a. Geology i. Resource Slides 10-15 ii. Cross-Sections Slides 17-45 iii. Angled Drilling Slides 47-52 iv. Unsampled Zones Slides 54-57 b. Metallurgy Slides 59-62 c. Preliminary Economic Assessment Slides 64-73 d. Belt Scale Exploration
Slide 11: Cabaçal Mineral Resource
CABAÇAL H IGHER G RADE C ONTINUOUS S UB -D OMAINS 1 Note 1 See News Release dated 26th September 2022 Cabaçal Mineral Resource Category Mt Au g/t Cu % Ag g/t AuEq g/t Au Mozs Cu Kt Ag Mozs AuEq Mozs Indicated 52.9 0.64 0.32 1.4 1.05 1.1 168 2.4 1.8 Inferred 10.3 0.68 0.24 1.1 0.96 0.2 24.5 0.4 0.3 T
Slide 12: Drilling the deposit's upside
CABAÇAL F URTHER E XPANDING AND I NFILLING C ABAÇAL R ESOURCE 1 CD-049 Drilling the deposit’s 53.7m @ 11.1 g/t AuEq including 26.7m @ 21.8g/t AuEq upside Further defining high- grade structures New targeted zones around Cabaçal Resource CNWE grid reducing to 25 x 25m Meridian Mining Claims Assays re
Slide 13: Sections Through Cabaçal Deposit
CABAÇAL S ECTIONS T HROUGH C ABAÇAL D EPOSIT 1 ^ A-A’ - LONG SECTION THROUGH CABAÇAL LOOKING NORTHEAST A ~1,900 m Resource Strike A’ ^ B-B’ - CROSS SECTION THROUGH CABAÇAL MAIN LOOKING NORTHWEST A B B’ B’ ~450 m B Wide copper-gold VMS package cut by later stage high-grade gold veins A’ Note 1 See Ne
Slide 14: Initial Focus on the CNWE Shallow High-Grade Trends
CABAÇAL I NITIAL FOCUS ON THE CNWE SHALLOW HIGH - GRADE TRENDS Open high-grade shallow gold zone on Cabaçal ridge - Potential to become a starter pit in a development scenario Expansion through ongoing resource definition and belt-scale exploration Indicated Resource C’ C C’ Inferred Resource C Note
Slide 15: Table of Contents
TABLE OF CONTENTS 1. Meridian Introduction Slides 4-8 2. Cabaçal a. Geology i. Resource Slides 10-15 ii. Cross-Sections Slides 17-45 iii. Angled Drilling Slides 47-52 iv. Unsampled Zones Slides 54-57 b. Metallurgy Slides 59-62 c. Preliminary Economic Assessment Slides 64-73 d. Belt Scale Exploration
Slide 16: Long Section Plan View
CABAÇAL L ONG S ECTION P LAN V IEW 7 8 3 4 6 Block model @ 0.5g/t AuEq Cut-off 2 5 Ind - 34.5Mt - 1.6 Moz AuEq @ 1.4g/t AuEq 1 Inf - 5.6Mt - 0.3Moz AuEq @ 1.5g/t AuEq 8’ 4’ 7’ 3’ 6’ 2’ 5’ 1’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 16
Slide 17: Long Section 1-1'
CABAÇAL L ONG S ECTION 1-1’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 17
Slide 18: Long Section 2-2'
CABAÇAL L ONG S ECTION 2-2’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 18
Slide 19: Long Section 3-3'
CABAÇAL L ONG S ECTION 3-3’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 19
Slide 20: Long Section 4-4'
CABAÇAL L ONG S ECTION 4-4’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 20
Slide 21: Long Section 5-5'
CABAÇAL L ONG S ECTION 5-5’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 21
Slide 22: Long Section 6-6'
CABAÇAL L ONG S ECTION 6-6’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 22
Slide 23: Long Section 7-7'
CABAÇAL L ONG S ECTION 7-7’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 23
Slide 24: Long Section 8-8'
CABAÇAL L ONG S ECTION 8-8’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 24
Slide 25: Cross Section Map
CABAÇAL C ROSS S ECTION M AP A’ Block model @ 0.5g/t AuEq Cut-off B’ Ind - 34.5Mt - 1.6 Moz AuEq @ 1.4g/t AuEq C’ Inf - 5.6Mt - 0.3Moz AuEq @ 1.5g/t AuEq D’ A E’ F’ B G’ H’ C I’ J’ D K’ L’ E M’ F N’ O’P’ G Q’ R’ H S’ I J K L M N O P Q R S Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF /
Slide 26: Section A-A'
CABAÇAL S ECTION A-A’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 26
Slide 27: Section B-B'
CABAÇAL S ECTION B-B’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 27
Slide 28: Section C-C'
CABAÇAL S ECTION C-C’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 28
Slide 29: Section D-D'
CABAÇAL S ECTION D-D’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 29
Slide 30: Section E-E'
CABAÇAL S ECTION E-E’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 30
Slide 31: Section F-F'
CABAÇAL S ECTION F-F’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 31
Slide 32: Section G-G'
CABAÇAL S ECTION G-G’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 32
Slide 33: Section H-H'
CABAÇAL S ECTION H-H’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 33
Slide 34: Section I-I'
CABAÇAL S ECTION I-I’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 34
Slide 35: Section J-J'
CABAÇAL S ECTION J-J’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 35
Slide 36: Section K-K'
CABAÇAL S ECTION K-K’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 36
Slide 37: Section L-L'
CABAÇAL S ECTION L-L’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 37
Slide 38: Section M-M'
CABAÇAL S ECTION M-M’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 38
Slide 39: Section N-N'
CABAÇAL S ECTION N-N’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 39
Slide 40: Section O-O'
CABAÇAL S ECTION O-O’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 40
Slide 41: Section P-P'
CABAÇAL S ECTION P-P’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 41
Slide 42: Section Q-Q'
CABAÇAL S ECTION Q-Q’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 42
Slide 43: Section R-R'
CABAÇAL S ECTION R-R’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 43
Slide 44: Section S-S'
CABAÇAL S ECTION S-S’ Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 44
Slide 45: Table of Contents
TABLE OF CONTENTS 1. Meridian Introduction Slides 4-8 2. Cabaçal a. Geology i. Resource Slides 10-15 ii. Cross-Sections Slides 17-45 iii. Angled Drilling Slides 47-52 iv. Unsampled Zones Slides 54-57 b. Metallurgy Slides 59-62 c. Preliminary Economic Assessment Slides 64-73 d. Belt Scale Exploration
Slide 46: Angled drilling defines sub-vertical gold overprint BP missed
Meridian’s full assaying of angled DDH defines CABAÇAL Cabaçal’s sub-vertical gold overprint that BP missed BP’s Vertical drilling poorly defines sub vertical high-grade gold Meridian drills angled holes 1st Phase Q1 2021 to Q3 2022: • 50m x 50m spaced angle drilling defines gold zones missed by BPM
Slide 47: Positive results from near surface infill drilling
CABAÇAL Positive results from near surface infill drilling CBDS27616 31.05 - 31.50 @ 48.7 g/t Au ^ Example of free-gold in CD205 CBDS27613 - 29.0-30.0m @ 1.9g/t Au ^ CBDS27628 - 37.53 - 37.95 m @ 6.1 g/t Au ^ CBDS27632 - 39.88 - 40.45 m @ 37.3 g/t Au ^ Note: 1 See News Release Technical Presentation
Slide 48: Positive results from ongoing infill drill program
CABAÇAL Positive results from ongoing infill drill program Meridian Drilling highlights some important lessons in “Brownfields” exploration • Wide spaced drilling is at high-risk of missing economic mineralization. Meridian’s 50x50m patten defined multiple trends that were not detected in the wide s
Slide 49: Grade distribution – Meridian vs. BPM drilling
CABAÇAL Grade distribution – Meridian vs. BPM drilling Note: 1 See News Release Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 49
Slide 50: Structural Style of Cabaçal
CABAÇAL Structural Style of Cabaçal • The cross-section below (bottom left) and schematic diagram (bottom right) highlight the structural controls identified in the mine environment. Elements of the interpretation include: • En-echelon "Upper Zone" gold lenses formed during the first shearing event
Slide 51: Structural Style – subvertical structures
CABAÇAL Structural Style – subvertical structures • Examples of overprinting sub-vertical normal and reverse faults carrying gold mineralization, with grade distribution in channel sampling: • A: Example of gold enrichment in the normal “Gamma” Fault • B: Example of gold enrichment in the reverse “D
Slide 52: Table of Contents
TABLE OF CONTENTS 1. Meridian Introduction Slides 4-8 2. Cabaçal a. Geology i. Resource Slides 10-15 ii. Cross-Sections Slides 17-45 iii. Angled Drilling Slides 47-52 iv. Unsampled Zones Slides 54-57 b. Metallurgy Slides 59-62 c. Preliminary Economic Assessment Slides 64-73 d. Belt Scale Exploration
Slide 53: BP's 1984-1988 Historical Drilling Campaigns
CABAÇAL BP’S 1984-1988 HISTORICAL DRILLING CAMPAIGNS Long section through the Cabaçal mine, showing all of BP’s drilling and the unsampled near surface zone that sits (black sectors of hole traces) between the surface topography and the grey triangulation presenting part of the exploration upside wi
Slide 54: Cabaçal's current drill coverage
CABAÇAL Cabaçal’s current drill coverage TAC Footwall All of Cabaçal’s drill traces colored by gold grades above the deposit’s basal TAC contact (brown layer), the “Footwall” Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 54
Slide 55: Exploration upside within the Cabaçal deposit
CABAÇAL Exploration upside within the Cabaçal deposit TAC Footwall Contour of the top of the historical sample limit Cabaçal project showing all drill traces above the grey contour that represents the top of the historical sampling limit and where the Cabaçal resource model is limited by data points
Slide 56: Zoomed in on Cabaçal Mine area
CABAÇAL Zoomed in on Cabaçal Mine area CD-045 Area above the Cabaçal mine showing non sampled area with Meridian’s angled drill hole CD-04 5 (3m @ 12.7g/t Au, 0.1% Cu & 2.4g/t Ag from 6.0m), showing the limited data points Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frankfurt: 2MM M
Slide 57: Table of Contents
TABLE OF CONTENTS 1. Meridian Introduction Slides 4-8 2. Cabaçal a. Geology i. Resource Slides 10-15 ii. Cross-Sections Slides 17-45 iii. Angled Drilling Slides 47-52 iv. Unsampled Zones Slides 54-57 b. Metallurgy Slides 59-62 c. Preliminary Economic Assessment Slides 64-73 d. Belt Scale Exploration
Slide 58: Cabaçal Metallurgical Results
CABAÇAL Cabaçal Metallurgical Results METALLURGICAL METALURGICAL HIGHLIGHTS HIGHLIGHTS Top Tier Metal Recoveries High Quality Copper Concentrate - up to 29% Course Grind ~200 microns Simple Floatation - 65% Chalcopyrite Low Bond Work Index - 11.2 Copper Recovery Gold Recovery Low Abrasion Index - 0.
Slide 59: Top Tier Metallurgical Recoveries
CABAÇAL Top Tier Metallurgical Recoveries +94% Copper Recoveries Copper Recovery Copper recovery exceeds 90% from 0.1% to >3% Cu head grade While copper recovery declines with head grade the slope is very moderate Consideration will therefore be given to the viability of processing lower grade miner
Slide 60: 25-29% Copper Concentrate
CABAÇAL Cabaçal Concentrate Testwork 25-29% Copper Concentrate High-grade Copper Concentrate Copper concentrate grade correlates well to Sulphur : Copper feed grade ratio Concentrate grades varied up to 30% Cu with average mineralization expected to yield 25 – 29% Cu concentrate grade Copper concent
Slide 61: Simple process flowsheet with high recoveries
CABAÇAL Conceptual Flow Sheet Simple process flowsheet with high recoveries Jaw Crusher Primary Grind ~200 microns Gravity Circuit – 30% Au First Cu Flotation Re-Grind ~40 microns Cleaner Circuit total recovery up to ~ 90% Au & ~ +93% Cu Sulphide Flotation Non-Acid Generating TSF Note: 1 See News Re
Slide 62: Cabaçal Historical Operation
CABAÇAL Cabaçal Historical Operation 1 Cabaçal Historical Production METALLURGICAL DATA - BP MINERALS / RIO TINTO - FULL YEAR MILL SUMMARY 1990 ^ Cabaçal Mill Flotation Gravity Total Metal • Cabaçal underground mine operated by BP Minerals / Rio Tinto from 1987 Year: 1990 Feed Recoveries Recoveries
Slide 63: Table of Contents
TABLE OF CONTENTS 1. Meridian Introduction Slides 4-8 2. Cabaçal a. Geology i. Resource Slides 10-15 ii. Cross-Sections Slides 17-45 iii. Angled Drilling Slides 47-52 iv. Unsampled Zones Slides 54-57 b. Metallurgy Slides 59-62 c. Preliminary Economic Assessment Slides 64-73 d. Belt Scale Exploration
Slide 64: Cabaçal PEA Highlights
C ABAÇAL PEA H IGHLIGHTS Cabaçal’s PEA delivers superior economics, driven by simple processing, low strip ratio, low-cost hydroelectric power supply, high-grade starter pit, and Brazil’s low-cost operating environment USD 573 M 58.4% USD 180 M Base Case After-Tax NPV5 After-Tax IRR Low Initial Cape
Slide 65: Production Metrics
P RODUCTION M ETRICS 1.8 Moz AuEq 131 koz AuEq USD21.25/t Milled Total Production Ave. Y1-5 Production Total Operating Costs 55.6 Mt 22.3 Year 2.1x Total Milled Life of Mine Strip Ratio 2.5 Mtpa 92.4% 89.7% Throughput Rate Average Cu Recovery Average Au Recovery Notes: 1 See News Release 6th March 2
Slide 66: Valuation Metrics
V ALUATION M ETRICS ˅ Post Tax NPV5 (USD) & IRR Sensitivity to Metals Prices Post Tax NPV & IRR Sensitivity to Metal Prices Copper Price Downside Base Spot Upside 3.50 3.59 4.00 4.13 4.50 5.00 NPV IRR NPV IRR NPV IRR NPV IRR NPV IRR NPV IRR 1,550 $510 m 53.5% $523 m 54.2% $582 m 57.0% $600 m 57.9% $
Slide 67: Production Metrics
P RODUCTION M ETRICS Item Plant Feed Mined Mt 55.6 Waste Mined Mt 118.1 Total Mined Mt 173.7 Mill Throughput Mt/annum 2.5 Total gold production ounces 1,021,320 Total copper production tonnes 159,926 Total silver production ounces 1,758,923 Item Milled tonnes Mt 55.6 Mill throughput Mt/ annum 2.5 St
Slide 68: Capital & Operating Cost Breakdown
C APITAL & O PERATING C OST B REAKDOWN Cabaçal Initial Capital Costs Cabaçal Sustaining Capital Costs Item US$mm Item US$mm Equipment & Packages 39.93 Process 30.53 Materials 9.67 Tailings 47.73 Construction And Erection 36.51 Indirect Costs 7.83 Others 32.14 Owner Costs 3.91 Indirects Costs 31.43 C
Slide 69: Project Economics
P ROJECT E CONOMICS Item Base Case Spot Case Life of mine Years 22.3 22.3 NPV(5%) USD million 572.5 745.2 IRR % 58.4% 69.7% Payback Days 321 279 Initial Capital Expenditure USD million 180 180 Sustaining Capital Expenditure USD million 108 108 Item Average Year 1-5 Total LOM Average Year 1-5 Total L
Slide 70: Mine Layout
M INE L AYOUT Open Pit ~2,000m x 500m Compact site to minimise transport distances Plant site design flexible for expansion opportunities Potential to minimise cost by using depleted open pit for waste storage Notes: 1 See News Release 6th March 2023 Technical Presentation, March 2023 TSX: MNO / OTC
Slide 71: Flowsheet
F LOWSHEET Simple process flowsheet with high recoveries Jaw Crusher Primary Grind ~200 microns Gravity Circuit – 30% Au First Cu Flotation Re-Grind ~40 microns Cleaner Circuit total recovery up to ~ 90% Au & ~ +93% Cu Sulphide Flotation Non-Acid Generating TSF Notes: 1 See News Release 6th March 20
Slide 72: Leading with Sustainable Power Sources
L EADING WITH SUSTAINABLE POWER SOURCES Sustainable local hydroelectric power PEA assumes USD 0.075 / kWh power cost with significant potential for optimization Regional Hydroelectric Generation ~375 MW in 10 Facilities On-going run-of-river and solar power evaluation Extensive use of ethanol flex f
Slide 73: Near-Term Potential Upside and Optimization
N EAR - TERM POTENTIAL UPSIDE AND OPTIMIZATION Key areas for near-term upside opportunities and optimization Evaluating potential increase Incorporate Santa Helena Throughput rate ~3.5 - 4.5 mtpa Potential for high-grade feed Cabaçal Resource Upgrade Mine corridor development Expand resource C2A Au-
Slide 74: Table of Contents
TABLE OF CONTENTS 1. Meridian Introduction Slides 4-8 2. Cabaçal a. Geology i. Resource Slides 10-15 ii. Cross-Sections Slides 17-45 iii. Angled Drilling Slides 47-52 iv. Unsampled Zones Slides 54-57 b. Metallurgy Slides 59-62 c. Preliminary Economic Assessment Slides 64-73 d. Belt Scale Exploration
Slide 75: Systematically Unlocking Belt Scale Upside
CABAÇAL S YSTEMATICALLY U NLOCKING B ELT S CALE U PSIDE C4-B Cabaçal Mine 1.9 km with ~2 Moz AuEq Au-Cu-Ag C2 Trend ~2 km strike Au-Ag Sucuri ~2 km strike Au-Ag Alamo ~4 km strike Cu-Au-Ag 1 See Meridian NI-43-101 2nd June 2022 Santa Helena Mine 1.3 km strike Zn-Cu-Au-Ag-Pb Technical Presentation, M
Slide 76: Cabaçal Tenements – Geological Map
CABAÇAL C ABAÇAL T ENEMENTS – G EOLOGICAL M AP Technical Presentation, March 2023 TSX.V: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 76
Slide 77: Mine Corridor: VTEM Conductivity
MINE CORRIDOR: VTEM CONDUCTIVITY CABAÇAL WITH TARGETS Mine Corridor: Exploration Program Technical Presentation, March 2023 TSX.V: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 77
Slide 78: Analytical Signal VTEM Magnetics with Targets
CABAÇAL Analytical Signal VTEM Magnetics with Targets 1 See press Release 12th April 2021 Technical Presentation, March 2023 TSX.V: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 78
Slide 79: Soils Program Confirming New Untested Anomalies
CABAÇAL S OILS PROGRAM CONFIRMING NEW UNTESTED ANOMALIES Cabaçal West Cabaçal West Conductors CabaçalMine Conductors Cabaçal Cabaçal Mine Northwest Conductors Cabaçal South C2A: Area 1 Cabaçal South C2A: Area 1 Peak Cu in rock 4075 ppm Peak Cu in rock 4075 ppm Peak Zn in rock: 3530 ppm Peak Zn in ro
Slide 80: Cabaçal Mine Corridor – Drill Map
CABAÇAL C ABAÇAL M INE C ORRIDOR – D RILL M AP Note: 1 See News Release Technical Presentation, March 2023 TSX.V: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 80
Slide 81: Cabaçal West Targeting Potential New Mineralization
CABAÇAL C ABAÇAL W EST TARGETING POTENTIAL NEW MINERALIZATION A B CABAÇAL WEST TARGET, IN RELATION TO BHEM CONDUCTIVE MODELS AMCD-15- CD-038 B 006 CD-058 CD-049 A CD-054 1 See News Release 23rd August 2021 Note: 1 See News Release Technical Presentation, March 2023 TSX.V: MNO / OTCQB: MRRDF / Frankf
Slide 82: Cabaçal Mine direct extensions
Cabaçal Mine direct extensions with CABAÇAL overlaid, Soils and VTEM Anomalies 1 See press Release 11th May 2021 Note: 1 See News Release Technical Presentation, March 2023 TSX.V: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 82
Slide 83: Expanding the Copper Potential from Archives
CABAÇAL E XPANDING THE COPPER POTENTIAL FROM A RCHIVES Alvorada uncovered as Cabaçal’s most significant Cabaçal Mine copper in stream anomaly Peak Cu: 56 ppm Cabaçal Resource: Indicated: 52.9Mt @ 0.6g/t Au, 0.3% Cu and 1.4g/t Ag Inferred: 10.3Mt @ 0.7g/t Au, 0.2% Cu & 1.1g/t Ag Santa Helena Mine Pea
Slide 84: Regional Exploration Targets
CABAÇAL R EGIONAL E XPLORATION TARGETS 1 928 km2 tenements Regional Exploration by BP Minerals Historical Cu-Au-Zn Hydroelectric Dam geochemical anomalies Local Electric Substation Potential extensions of VMS belt stratigraphy Jaurú & Araputanga Greenstone belts potential to repeat discovery success
Slide 85: Table of Contents
TABLE OF CONTENTS 1. Meridian Introduction Slides 4-8 2. Cabaçal a. Geology i. Resource Slides 10-15 ii. Cross-Sections Slides 17-45 iii. Angled Drilling Slides 47-52 iv. Unsampled Zones Slides 54-57 b. Metallurgy Slides 59-62 c. Preliminary Economic Assessment Slides 64-73 d. Belt Scale Exploration
Slide 86: Santa Helena Historic Mine Open Pit Exploration Target
CABAÇAL S ANTA H ELENA H ISTORIC M INE O PEN P IT E XPLORATION T ARGET Multiple new EM plates extending out from Santa Helena Mine Historic Resource Info Untested targets for further Cu‐Zn‐Au‐Ag massive sulphide and feeder zones defined Note: 1 See News Release Technical Presentation, March 2023 TSX
Slide 87: Santa Helena - Soils
CABAÇAL S ANTA H ELENA - S OILS Note: 1 See News Release Technical Presentation, March 2023 TSX.V: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 87
Slide 88: Santa Helena - Trenching
CABAÇAL S ANTA H ELENA - T RENCHING Note: 1 See News Release Technical Presentation, March 2023 TSXV: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 88
Slide 89: Santa Helena - Drilling
CABAÇAL S ANTA H ELENA - D RILLING Note: 1 See News Release Technical Presentation, March 2023 TSX.V: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 89
Slide 90: Santa Helena – Cross-Section
CABAÇAL S ANTA H ELENA – C ROSS -S ECTION z Note: 1 See News Release Technical Presentation, March 2023 TSXV: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 90
Slide 91: Santa Helena – Cross-Section
CABAÇAL S ANTA H ELENA – C ROSS -S ECTION Note: 1 See News Release Technical Presentation, March 2023 TSX.V: MNO / OTCQB: MRRDF / Frankfurt: 2MM Meridian Mining UK S | 91
Slide 92: Table of Contents
TABLE OF CONTENTS 1. Meridian Introduction Slides 4-8 2. Cabaçal a. Geology i. Resource Slides 10-15 ii. Cross-Sections Slides 17-45 iii. Angled Drilling Slides 47-52 iv. Unsampled Zones Slides 54-57 b. Metallurgy Slides 59-62 c. Preliminary Economic Assessment Slides 64-73 d. Belt Scale Exploration
Slide 93: Espigão IOCG Target
ESPIGÃO E SPIGÃO IOCG T ARGET Espigão Project Iron Oxide-Copper-Gold (“IOCG”) type deposits host the giant Cu-Au mines of Brazil and some of the biggest Cu-Au mines internationally e.g. Salobo and Olympic Dam Espigão hosts the prospective geochemistry comparable to large-scale IOCG type deposits Fir
Slide 94: Meridian Mining UK S Contact
Meridian Mining UK S Dr Adrian McArthur Gilbert Clark Phone: +1 778 715 6410 Corporate Address: Chief Executive Officer Executive Chairman Email: info@meridianmining.net.br 6th Floor, 65 Gresham Street, London EC2V 7NQ United Kingdom Technical Presentation, March 2023 TSX: MNO / OTCQB: MRRDF / Frank