Meridian Mining UK S (TSX: MNO) (FSE: N2E) is pleased to announce that it has closed the brokered private placement previously announced on July 24, 2025, for gross proceeds to the Company of C$50,000,000 pursuant to the terms of the agency agreement dated August 7, 2025, among the Company and Stifel Canada, BMO Capital Markets and Beacon Securities Limited, as co-lead agents and joint bookrunners, along with SCP Resource Finance LP, Cormark Securities Inc. and Raymond James Ltd. as co-agents. Pursuant to the Offering, the Agents sold 64,102,564 common shares of the Company at a price of C$0.78 per Common Share.

An insider of the Company participated in the Offering and purchased an aggregate of 7,371,795 Common Shares. Participation of such insider in the Offering constituted a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, but was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities issued to the insider nor the consideration paid by the insider exceeded 25% of the Company’s market capitalization. None of the Company’s directors expressed any contrary views or disagreements with respect to the foregoing. The Company did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of the insider of the Company had not been confirmed at that time. The Offering is subject to final approval from the Toronto Stock Exchange.

The Company intends to use the net proceeds of the Offering to advance the definitive feasibility study for its Cabaçal Au-Cu project, to continue to advance Santa Helena to an initial resource, to expand regional exploration programs on the wider Cabaçal VMS Belt and for general corporate and administration costs and general working capital, each as further described in the offering document filed by the Company on July 24, 2025, in respect of the Offering.

Mr. Gilbert Clark, CEO, stated: “We are very pleased to have been strongly supported by our existing and new shareholders to successfully close this C$50.0 million financing. With a strong cash position, Meridian is now funded to meet key milestones including, up to and including the final investment decision at the Cabaçal Au-Cu-Ag project, the Santa Helena initial resource, and an expanded belt scale exploration program. We look forward to updating the market as we develop Brazil’s next gold & copper mining district.”

No U.S. Offering or Registration

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “1933 Act“) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

ABOUT MERIDIAN

Meridian Mining is focused on:

• The development and exploration of the advanced stage Cabaçal VMS gold-copper project;
• The initial resource definition at the second higher-grade VMS asset at Santa Helena as the first stage of the Cabaçal Hub development strategy;
• Regional scale exploration of the Cabaçal VMS belt to expand the Cabaçal Hub strategy; and
• Exploration in the Jaurú & Araputanga Greenstone belts (the above all located in the State of Mato Grosso, Brazil).

The Pre-feasibility Study technical report dated March 31, 2025, entitled: “Cabaçal 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). Cabaçal 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 Cabaçal 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).

Readers are encouraged to read the PFS Technical Report in its entirety. The PFS Technical Report may be found under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.meridianmining.co.

The PFS Technical Report was prepared for the Company by Tommaso Roberto Raponi (P. Eng), Principal Metallurgist with Ausenco Engineering Canada ULC; Scott Elfen (P. E.), Global Lead Geotechnical and Civil Services with Ausenco Engineering Canada ULC; John Anthony McCartney, C.Geol., Ausenco Chile Ltda.; Porfirio Cabaleiro Rodriguez (Engineer Geologist FAIG), of GE21 Consultoria Mineral; Leonardo Soares (PGeo, MAIG), Senior Geological Consultant of GE21 Consultoria Mineral; Norman Lotter (Mineral Processing Engineer; P.Eng.), of Flowsheets Metallurgical Consulting Inc.; and, Juliano Felix de Lima (Engineer Geologist MAIG), of GE21 Consultoria Mineral.

Qualified Person

Mr. Erich Marques, B.Sc., FAIG, Chief Geologist of Meridian Mining and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, verified, and approved the technical information in this news release.