Meridian Mining Receives New Loan Agreement and Executive Departure

LONDON - Meridian Mining SE has entered into a new loan agreement with Sentient Global Resources Funds IV LP. The proceeds from the Amendment will be used for: Purchasing or leasing of additional pre-screening equipment and ancillary equipment; Due diligence on new prospects outside of the Company's current tenements; and General working capital.

Gilbert Clark, Interim CEO & President, said "By working with the Espigao mining and processing teams, we have identified significant cost reductions associated with the production of the Manganese concentrate. The pre-screening of the mined material prior to hauling to the processing plants, removes 75% of the gangue material while minimizing manganese loss. The residual ~25% volume is then processed at the plants and produces an equivalent volume of Mn concentrate.

The Company is also evaluating the opportunity of adding Mn prospects to its current portfolio of properties.

The loan constitutes a "related party transaction" for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The transaction is exempt from the valuation and minority approval requirements of MI 61-101 in accordance with sections 5.5(a) and 5.7(a), respectively, by virtue of the fact that the value of the loan is less than 25% of the Company's market capitalization.