Mr. Gilbert Clark reports

MERIDIAN ANNOUNCES CLOSING OF C$57.5M BOUGHT DEAL FINANCING

Meridian Mining PLC has closed the bought deal offering previously announced on Feb. 4, 2026, and further upsized on Feb. 4, 2026, by issuing 36,392,900 common shares of the company at $1.58 per offered share for aggregate gross proceeds to the company of $57,500,782 pursuant to terms of the underwriting agreement entered into among Stifel Canada and BMO Capital Markets, as joint bookrunners, together with Beacon Securities Ltd., as co-lead underwriters, and ATB Cormark Capital Markets, Scotia Capital Inc., SCP Resource Finance LP and Raymond James Ltd. The offering included 4,746,900 offered shares issued pursuant to the full exercise of the overallotment option by the underwriters.

Gilbert Clark, chief executive officer, commented: "Meridian greatly appreciates the strong support from its existing and new shareholders and the exceptional efforts of the underwriters. Our postclosing balance sheet will show over $100-million in cash and equivalents, positioning Meridian to capitalize on a clear execution plan at Cabacal and long-term value creation via its extensive exploration programs. The company can now enter an exciting period of growth as it continues to develop what it considers to be, the pre-eminent VMS [volcanogenic massive sulphide] gold-copper-silver development project of South America."

The company intends to use the net proceeds to advance the development of the Cabacal Au-Cu-Ag DFS (definitive feasibility study) program (including deposits for long-lead items and advanced infrastructure and civil works, increased exploration activity within the Cabacal, Jauru and Araputanga belts, and exploration of the Esipgao IOCG (iron oxide copper-gold) belt in Rondonia), working capital and general corporate purposes.

The offered shares issued pursuant to the offering were qualified for distribution by way of a prospectus supplement of the company dated Feb. 6, 2026, to the company's existing short-form base shelf prospectus dated Jan. 5, 2026, filed in the provinces of British Columbia, Alberta and Ontario, and offered and sold to eligible purchasers by way of available prospectus exemptions in certain jurisdictions outside of Canada. The base shelf prospectus, the prospectus supplement, the documents incorporated by reference therein and the underwriting agreement are available on the company's profile on SEDAR+. The offering is subject to final approval from the Toronto Stock Exchange.

An insider of the company participated in the offering and purchased an aggregate of 5,719,936 offered 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.

About Meridian Mining PLC

Meridian Mining is focused on:

• The development and exploration of the advanced-stage Cabacal VMS gold-copper project;
• Expanding the initial resource inventory in the Santa Helena area through extension of Santa Helena Central and targeting new discoveries;
• 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 Prefeasibility Study," outlines a base-case after-tax net present value (discounted at 5 per cent) of $984-million (U.S.) and internal rate of return of 61.2 per cent 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 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 2.3:1 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 grams per tonne silver (at a 0.25-gram-per-tonne-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, 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, BSc, Geo, 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.

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