Multiple Zones Of Mineralization At Cabacal Au-Cu-Ag Project

LONDON, UK - Meridian Mining UK. S reported strong intersections of Au-Cu-Ag mineralization from its ongoing drill program at its flagship Cabaçal Cu-Au-Ag project. Recent drill results have returned strong zones of gold-copper-silver mineralization within the open pit shell1, highlighted by CD-492's 13.4m @ 4.6g/t AuEq (3.1% CuEq) from 73.8m, part of a broader zone grading 35.4m @ 2.2g/t AuEq (1.5% CuEq) from 51.8m. Multiple higher-grade zones of Au-Cu-Ag mineralization grading between 17.0 and 18.6g/t AuEq, including zones of visible gold, are also being reported. Exploration drilling of the mine corridor is commencing with a program to test multiple Cu-Au VMS targets as part of Meridian's strategy to develop the 50km Cabaçal VMS belt. Drilling and resource definition continues at both the Cabaçal and Santa Helena deposits respectively and further assays are pending.

Meridian returned strong Au-Cu-Ag mineralization at Cabaçal grading 13.4m @ 4.6g/t AuEq - CD-492: 35.4m @ 2.2g/t AuEq (1.5% CuEq) from 51.8m, and including 13.4m @ 4.6g/t AuEq (3.1% CuEq) from 73.8m, plus 1.1m @ 18.6g/t AuEq (12.5% CuEq) from 85.4m). CD-493 : 6.9m @ 2.0g/t AuEq (1.3% CuEq) from 106.5m, and included a 51cm zone of hosting visible gold grading 17.0g/t AuEq from 109.7m. CD-498 : 8.2m @ 1.7g/t AuEq (1.1% CuEq) from 45.9m.

Cabaçal's PFS geotechnical drilling required for mine and mill infrastructure engineering largely completed. Drilling continues at Santa Helena, with a new bore hole geophysics program commenced, commencement of mine-corridor Cu-Au-Ag & Zn exploration drill program testing multiple targets.

Gilbert Clark, CEO, said, "Our drilling continues to deliver strong intervals of robust grades at shallow depths as seen by CD-492's 13.4m @ 4.6 g/t AuEq. As we advance towards the mining decision at Cabaçal, these wider zones - up to 35.4m at 2.2g/t AuEq - will become the core of our long-term mining scenarios. The advancement of Cabaçal's PFS is going well with the geotechnical and hydrological programs across the intended mine site now largely completed, and the engineering and trade off studies are progressing well.

In expanding the belt-scale potential, we have started to deploy our specialized Geonics bore hole electromagnetic ("EM") tool at Santa Helena to open up new "blind" exploration prospects. We are also excited to expand our mine-corridor exploration program, having commenced drilling to begin to test our multiple targets that will continue throughout 2024 and 2025. We look forward to results from the ongoing programs targeting copper and gold mineralization along the Cabaçal VMS belt."