Mr. Gilbert Clark reports

MERIDIAN ANNOUNCES LEADERSHIP CHANGES INCLUDING APPOINTMENTS OF CHIEF EXECUTIVE OFFICER AND INTERIM CHAIR

Meridian Mining U.K. Societas has provided leadership updates, including Gilbert Clark agreeing to take on the chief executive officer role, and Susanne Sesselmann accepting the interim chair role. As such, the company has made the following executive and board changes:

• Mr. Clark, a non-independent director of the company, has been appointed as the company's new chief executive officer.
• Dr. Adrian McArthur, a non-independent director of the company, has been reappointed as president to continue the leadership of the company's day-to-day operations and implementation of the company's business.
• Martin McFarlane is now senior vice-president, strategy and projects, and will be responsible for the strategy and the development of the company's projects.
• Ms. Sesselmann, an independent director of the company, has agreed to act as interim independent chair of the board following unanimous board support.

The changes reflect the board's strategy for Meridian going forward, and to forgo the previous executive chairman role, as the board continues to advance the search for an independent chair to be appointed expediently.

Mr. Clark, CEO, stated: "I am honoured and excited to return to lead the company, and i want to thank the board for their unanimous vote of confidence and for this opportunity. In this next phase of the company's growth, the time is right to reset our structure to achieve our long-term goals. I would like to thank Adrian for his leadership and contributions in unlocking the value of Cabacal to date.

"Going forward, I will continue to work closely with Adrian, Martin and the entire Meridian team in furthering the growth and development of our flagship Cabacal project. I would like to thank Susanne, for her acceptance of interim chair role. Her leadership during this new phase is one unanimously supported by the board and management.

"The Cabacal project is an advanced gold-copper asset with industry-leading economics. Our management team will focus on the implementation of the company's strategy to achieve a near-term production decision at Cabacal. In parallel, we will be advancing the exceptional belt-scale VMS exploration potential, starting at Santa Helena, in order to maximize value for all shareholders through discovery and resource definition."

About Meridian Mining U.K. Societas

Meridian Mining is focused on:

• Development and exploration of the advanced-stage Cabacal volcanogenic massive sulphide gold-copper project;
• Regional-scale exploration of the Cabacal VMS belt;
• Exploration in the Jauru and Araputanga greenstone belts (the above all located in the state of Mato Grosso, Brazil);
• Exploring the Espigao polymetallic project in the state of Rondonia, Brazil.

Cabacal is a gold-copper-silver-rich VMS deposit with the potential to be a stand-alone mine within the 50-kilometre VMS belt. Cabacal's base metal- and precious metal-rich mineralization is hosted by volcanogenic type, massive, semi-massive, stringer and disseminated sulphides within deformed metavolcanic-sedimentary rocks. A later-stage gold overprint event has emplaced high-grade gold mineralization.

Qualified person

Erich Marques, BSc, MAIG, chief geologist of Meridian Mining and a qualified person as defined by National Instrument 43-101, has reviewed and verified the technical information in this news release.

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