Mr. Mr. Gilbert Clark reports

MERIDIAN ANNOUNCES LIFE OFFERING OF UP TO C$50 MILLION

Meridian Mining U.K. Societas has entered into an agreement with Stifel, BMO Capital Markets and Beacon Securities Ltd., for and on behalf of a syndicate of agents, in connection with a best-efforts private placement of up to 64,102,564 common shares of the company at a price of 78 cents per common share for aggregate gross proceeds of up to $50-million, with the common shares to be issued pursuant to the listed issuer financing exemption (as defined below).

The company intends to use the net proceeds of the offering to advance the definitive feasibility study for its Cabacal Au-Cu (gold-copper) project, to continue to advance Santa Helena to an initial resource, to expand regional exploration programs on the wider Cabacal VMS (volcanogenic massive sulphide) belt, and for general corporate and administration costs and general working capital.

The offering is expected to close on or about Aug. 7, 2025, and is subject to customary closing conditions of this nature, including but not limited to, the company receiving all necessary regulatory approvals, including the conditional approval from the Toronto Stock Exchange.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -- Prospectus Exemptions (NI 45-106), the common shares will be offered for sale to purchasers resident in each of the provinces and territories of Canada, except Quebec, and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. As the offering is being completed pursuant to the listed issuer financing exemption, the common shares issued pursuant to the offering will not be subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document dated July 24, 2025, related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

About Meridian Mining U.K. Societas

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;
• Exploration in the Jauru and Araputanga greenstone belts (the above all located in the state of Mato Grosso, Brazil).

The prefeasibility study 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 (net present value, 5-per-cent discount rate) of $984-million (U.S.) and 61.2-per-cent IRR (internal rate of return) from a preproduction capital cost of $248-million (U.S.), leading to capital repayment in 17 months (assuming metals price scenario of $2,119 (U.S.) per ounces of gold, $4.16 (U.S.) per pound of copper and $26.89 (U.S.) per ounce of silver). Cabacal has a low all-in sustaining-cost of $742 (U.S.) per ounce gold equivalent and production profile of 141,000 ounces 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 0.63 gram per tonne gold, 0.44 per cent copper and 1.64 g/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+ and on the company's website.

The PFS technical report was prepared for the company by Tommaso Roberto Raponi (PEng), principal metallurgist with Ausenco Engineering Canada ULC; Scott Elfen (PE), global lead of geotechnical and civil services with Ausenco Engineering Canada ULC; John Anthony McCartney, CGeol, 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; PEng) of Flowsheets Metallurgical Consulting Inc.; and, Juliano Felix de Lima (engineer geologist MAIG) of GE21 Consultoria Mineral.

Qualified person

Erich Marques, BSc, 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.

We seek Safe Harbor.