Meridian Mining's Cabacal Project's Preliminary Licence Approval Formalised by the State of Mato Grosso

About this update from Meridian Mining Plc

London, United Kingdom - Meridian Mining UK S (TSX: MNO) (FSE: N2E) (OTCQX: MRRDF) ('Meridian' or the 'Company') is pleased to announce that the approval of the Cabacal Gold-Copper-Silver project's ('Cabacal') Preliminary Licence ('the PL'), has been formalized with the publication in the Official Gazette of the State of Mato Grosso . The Company is now focused on the ongoing preparation and submission of Cabacal's Installation Licence ('the IL') in H1 2026. The Company also announces that the application for a Preliminary Licence for the Santa Helena's Au-Cu-Ag & Zn project ('Santa Helena') has been submitted. Mr. Gilbert Clark , CEO, comments: 'Following the PL's unanimous approval1, it is now gazetted. A tremendous permitting milestone for the Company has been achieved. Congratulations to our Brazilian team and their commitment, to over two years of environmental studies, social-environmental and technical reviews, and 12 months of multiple public consultations. The Cabacal's PL process commenced in Q4 2021, as Meridian's experienced 'in house' team saw the potential for rapidly returning this dormant mining camp back into production. The PL's gazetting, represents the significant endorsements and support by our local communities and the state of Mato Grosso for Cabacal to achieve this potential. Meridian is now preparing Cabacal's IL application to the same high standard that the successful PL's application was completed. In parallel, Meridian is advancing its correspondence with potential project finance groups. This is to ensure that the progression of the IL is in alignment with Cabacal's project financing, the Final Investment Decision and the Company's equities. In addition, I believe the submission of the Santa Helena PL represents a major advancement for our second project. Establishing the greater Cabacal Au-Cu-Ag belt to be Brazil's most advanced and modern VMS mining camp as well as its most prospective. Our corporate goals remain focused on the disciplined development of Cabacal, the resource development at Santa Helena, and on further unlocking this greater belt scale exploration potential.' About Meridian Meridian Mining is focused on: The development and exploration of the advanced stage Cabacal VMS gold-copper project; The initial resource definition at the second higher-grade VMS asset at Santa Helena as the first stage of the Cabacal Hub development strategy; Regional scale exploration of the Cabacal VMS belt to expand the Cabacal Hub strategy and Exploration in the Jauru & Araputanga Greenstone belts (the above all located in the State of Mato Grosso, Brazil ). The Pre-feasibility Study technical report (the 'PFS Technical Report') dated March 31, 2025 , entitled: 'Cabacal Gold-Copper Project NI 43-101 Technical Report and Pre-feasibility Study' outlines a base case after-tax NPV5 of USD 984 million and 61.2% IRR from a pre-production capital cost of USD 248 million , leading to capital repayment in 17 months (assuming metals price scenario of USD 2,119 per ounces of gold, USD 4.16 per pound of copper, and USD 26.89 per ounce of silver). Cabacal has a low All-in-Sustaining-Cost of USD 742 per ounce gold equivalent & production profile of 141,000-ounce gold equivalent life of mine, driven by high metallurgical recovery, a low life-of-mine strip ratio of 2.3:1, and the low operating cost environment of Brazil . The Cabacal Mineral Reserve estimate consists of Proven and Probable reserves of 41.7 million tonnes at 0.63g/t gold, 0.44% copper and 1.64g/t silver (at a 0.25 g/t gold equivalent cut-off grade). Contact: Mr. Gilbert Clark Email: [email protected] Tel: +44 (0) 203 930 3145 Gareth Tredway Tel: +44 (0) 207 920 3150 Email: [email protected] Cautionary Statement on Forward-Looking Information Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading 'Risk Factors' in Meridian's most recent Annual Information Form filed on www.sedarplus.ca. While these factors and assumptions are considered reasonable by Meridian, in light of management's experience and perception of current conditions and expected developments, Meridian can give no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Meridian disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. (C) 2025 Electronic News Publishing, source ENP Newswire

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