Meridian Mining Reports on Cabaçal Installation Licence Submission and Provides DFS Update

About this update from Meridian Mining Plc

Highlights: Cabaçal advances the next step towards Financial Investment Decision ("FID") with the application for its Installation Licence; Cabaçal Feasibility Study is nearing 50% completion and remains on schedule for Q4 2026; Meridian commences the purchase of Cabaçal's long-lead mill equipment; Purchasing of long-lead items now locks in prices and shortens the time to construction SAG Mill technical specification completed and pricing secured; Electrical transformers ordered from Brazilian supplier; Pre-construction civil engineering studies fast-tracked; Roads, bridges and power easements surveyed for upgrade and construction; Tenders for civil engineering are now under review; and Commitment letters for life-of-mine power supply signed. London, United Kingdom--(Newsfile Corp. - May 27, 2026) - Meridian Mining plc (LSE: MNO) (TSX: MNO) (FSE: N2E0) (Tradegate: N2E0) (OTCQX: MRRDF) ("Meridian" or the "Company") is pleased to announce the submission of the Cabaçal Au-Cu-Ag project's ("Cabaçal") Installation Licence (Licença de Instalação "the IL") application, to the Mato Grosso State Environmental Secretariat ("SEMA"). An IL for Cabaçal is needed prior to commencing any mine-site construction, and extensive preparation and consultations have been undertaken prior to its submission. To ensure the near-term schedule for Cabaçal, the ordering of long-lead time items including the main transformer of the plant's substation has commenced. The SAG mill's design, technical specifications and pricing have been agreed, with only contract terms to be finalised. The civil surveying of planned access routes, power easements and bridges forming a key element of the future construction preparation has entered the final stages of completion. Mr. Gilbert Clark, CEO, comments: "The submission for an Installation Licence for Cabaçal is a major step in advancing towards a near-term final investment decision. The submission represents a significant amount of engineering design work, adding to the positive engagement with the Mato Grosso environmental agency SEMA and our local communities during the Preliminary Licence granting process. The commitment to finance the future construction of a major mine is never taken lightly. However, our confidence to start placing the orders and pay deposits for long-lead time items, and shortly to commence the civil works, stems from Cab...

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