An anonymous director reports

MERIDIAN ANNOUNCES $15M BOUGHT DEAL PUBLIC OFFERING

Meridian Mining U.K. Societas has entered into an agreement with Beacon Securities Ltd. and BMO Capital Markets, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, with a right to arrange for substitute purchasers, 42.86 million common shares of the company at a price of 35 cents per offered share for aggregate gross proceeds to the company of $15,001,000.

The company has granted the underwriters an option, exercisable in whole or in part at any time and from time to time for up to 30 days following the closing date (as defined herein), to purchase up to an additional number of offered shares equal to 15 per cent of the number of offered shares sold pursuant to the offering at a price per additional share equal to the issue price to cover overallotments, if any, and for market stabilization purposes.

The offered shares will be offered (i) in Canada by way of a prospectus supplement to the company's existing short form base shelf prospectus dated Feb. 24, 2023, to be filed on or before April 3, 2024, in the provinces of British Columbia, Alberta and Ontario pursuant to National Instrument 44-101 -- Short Form Prospectus Distributions and National Instrument 44-102 -- Shelf Distributions, which shall qualify the distribution of the offered shares in the qualifying jurisdictions; and (ii) to eligible purchasers by way of available prospectus exemptions in certain jurisdictions outside of Canada.

The company intends to use the net proceeds to advance the Cabacal project, including for the purposes of a prefeasibility study, resource delineation drilling and continued exploration on the property, working capital, and general corporate purposes.

The closing of the offering is anticipated to occur on or about April 9, 2024, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

A copy of the base shelf prospectus is available under the company's profile on SEDAR+. Once filed, the prospectus supplement in connection with the offering will also be available on SEDAR+.

About Meridian Mining U.K. Societas

Meridian Mining U.K. S is focused on:

• The development and exploration of the advanced stage Cabacal VMS (volcanogenic massive sulphide) gold-copper project;
• Regional scale exploration of the Cabacal VMS belt;
• Exploration in the Jauru & Araputanga greenstone belts (those listed are all located in the state of Mato Grosso, Brazil).

We seek Safe Harbor.