Mr. Gilbert Clark reports

MERIDIAN ANNOUNCES CLOSING OF C$50 MILLION LIFE OFFERING

Meridian Mining U.K. Societas has closed the brokered private placement previously announced on July 24, 2025, for gross proceeds to the company of $50-million pursuant to the terms of the agency agreement dated Aug. 7, 2025, among the company and Stifel Canada, BMO Capital Markets and Beacon Securities Ltd., 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 78 cents 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 per cent 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 Cabacal gold-copper project, to continue to advance Santa Helena to an initial resource, to expand regional exploration programs on the wider Cabacal volcanogenic massive sulphide 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.

Gilbert Clark, chief executive officer, stated: "We are very pleased to have been strongly supported by our existing and new shareholders to successfully close this $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 Cabacal 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 and copper mining district."

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; and
• 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 net present value discounted at 5 per cent of $984-million (U.S.) and a 61.2-per-cent internal rate of return from a preproduction capital cost of $248-million (U.S.), leading to capital repayment in 17 months (assuming a metal price scenario of $2,119 (U.S.) per ounce 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 ounce gold equivalent life of mine, driven by high metallurgical recovery, a low life-of-mine strip ratio of 2.3 to 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 prefeasibility study 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 geotechnical and civil services with Ausenco Engineering Canada; 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, 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.