Mr. Richard Revelins reports

MERYLLION ANNOUNCES CANCELLATION OF STOCK OPTIONS AND PROPOSED SHARES-FOR-DEBT SETTLEMENT

Meryllion Resources Corp. has cancelled an aggregate of 2.29 million stock options of the company. Of the cancelled options, an aggregate of 1.34 million were exercisable at exercise prices of 10.5 cents to 11.5 cents until May 27, 2026, and an aggregate of 950,000 were exercisable at exercise prices of 10.5 cents to 11.5 cents until Sept. 26, 2027. All of the options were voluntarily surrendered by the holders thereof for no consideration.

The company intends to complete a shares for debt transaction with its chief financial officer to settle $10,000 of accrued salary through the issuance of 200,000 common shares in the capital stock of Meryllion at a deemed issue price of five cents per share. Completion of the debt settlement is subject to the receipt of all necessary regulatory approvals, including from the Canadian Securities Exchange. The shares to be issued will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable securities laws.

The issuance of the shares pursuant to the shares for debt transaction constitutes a related party transaction as such term is defined by Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company expects to rely on the exemptions from the valuation and minority shareholder approval requirements for related party transactions in connection with the issuance of the shares that are set out in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the subject matter of nor the fair market value of the consideration for the issuance of the shares exceeds 25 per cent of the company's market capitalization (as determined under MI 61-101).

We seek Safe Harbor.