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Highlights:<\/b><\/p>\n London, United Kingdom–(Newsfile Corp. – November 3, 2025) – Meridian Mining UK S (TSX: MNO) (FSE: N2E) (OTCQX: MRRDF) (“Meridian” or the “Company”) is pleased to announce that the approval of the Caba\u00e7al Gold-Copper-Silver project’s (“Caba\u00e7al”) Preliminary Licence (“the PL”), has been formalized with the publication in the Official Gazette of the State of Mato Grosso. The Company is now focused on the ongoing preparation and submission of Caba\u00e7al’s Installation Licence (“the IL”) in H1 2026.<\/p>\n The Company also announces that the application for a Preliminary Licence for the Santa Helena’s Au-Cu-Ag & Zn project (“Santa Helena”) has been submitted.<\/p>\n Mr. Gilbert Clark, CEO, comments: “Following the PL’s unanimous approval1<\/sup>, it is now gazetted. A tremendous permitting milestone for the Company has been achieved. Congratulations to our Brazilian team and their commitment, to over two years of environmental studies, social-environmental and technical reviews, and 12 months of multiple public consultations.<\/p>\n The Caba\u00e7al’s PL process commenced in Q4 2021, as Meridian’s experienced “in house” team saw the potential for rapidly returning this dormant mining camp back into production. The PL’s gazetting, represents the significant endorsements and support by our local communities and the state of Mato Grosso for Caba\u00e7al to achieve this potential.<\/p>\n Meridian is now preparing Caba\u00e7al’s IL application to the same high standard that the successful PL’s application was completed. In parallel, Meridian is advancing its correspondence with potential project finance groups. This is to ensure that the progression of the IL is in alignment with Caba\u00e7al’s project financing, the Final Investment Decision and the Company’s equities.<\/p>\n In addition, I believe the submission of the Santa Helena PL represents a major advancement for our second project. Establishing the greater Caba\u00e7al Au-Cu-Ag belt to be Brazil’s most advanced and modern VMS mining camp as well as its most prospective. Our corporate goals remain focused on the disciplined development of Caba\u00e7al, the resource development at Santa Helena, and on further unlocking this greater belt scale exploration potential.”<\/p>\n Qualified Person Statement<\/b><\/p>\n Mr. Erich Marques, B.Sc., FAIG, Chief Geologist of Meridian Mining and a Qualified Person as defined by National Instrument 43-101, has reviewed, verified, and approved the technical information in this news release.<\/p>\n About Meridian<\/b><\/p>\n Meridian Mining is focused on:<\/p>\n The Pre-feasibility Study technical report (the “PFS Technical Report”) dated March 31, 2025, entitled: “Caba\u00e7al Gold-Copper Project NI 43-101 Technical Report and Pre-feasibility Study” outlines a base case after-tax NPV5 of USD 984 million and 61.2% IRR from a pre-production capital cost of USD 248 million, leading to capital repayment in 17 months (assuming metals price scenario of USD 2,119 per ounces of gold, USD 4.16 per pound of copper, and USD 26.89 per ounce of silver). Caba\u00e7al has a low All-in-Sustaining-Cost of USD 742 per ounce gold equivalent & 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.<\/p>\n The Caba\u00e7al Mineral Reserve estimate consists of Proven and Probable reserves of 41.7 million tonnes at 0.63g\/t gold, 0.44% copper and 1.64g\/t silver (at a 0.25 g\/t gold equivalent cut-off grade).<\/p>\n 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+ at www.sedarplus.ca<\/a> and on the Company’s website at www.meridianmining.co<\/a>.<\/p>\n The PFS Technical Report was prepared for the Company by Tommaso Roberto Raponi (P. Eng), Principal Metallurgist with Ausenco Engineering Canada ULC; Scott Elfen (P. E.), Global Lead Geotechnical and Civil Services with Ausenco Engineering Canada ULC; John Anthony McCartney, C.Geol., 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; P.Eng.), of Flowsheets Metallurgical Consulting Inc.; and, Juliano Felix de Lima (Engineer Geologist MAIG), of GE21 Consultoria Mineral.<\/p>\n On behalf of the Board of Directors of Meridian Mining UK S<\/p>\n Mr. Gilbert Clark – CEO and Director<\/p>\n Meridian Mining UK S Email: info@meridianmining.co Media Enquiries: Stay up to date by subscribing for news alerts here: https:\/\/meridianmining.co\/contact\/ Cautionary Statement on Forward-Looking Information<\/b><\/p>\n Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading “Risk Factors” in Meridian’s most recent Annual Information Form filed on www.sedarplus.ca<\/a>. While these factors and assumptions are considered reasonable by Meridian, in light of management’s experience and perception of current conditions and expected developments, Meridian can give no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Meridian disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise.<\/p>\n\n
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8th Floor, 4 More London Riverside
London SE1 2AU
United Kingdom<\/p>\n
<\/a>Ph: +44 (0) 203 930 3145 (GMT)<\/p>\n
<\/b>Gareth Tredway \/ Ruairi Millar
Tel: +44 (0) 207 920 3150
Email: meridianmining@tavistock.co.uk<\/a><\/p>\n<\/div>\n
<\/a>Follow Meridian on X: https:\/\/X.com\/MeridianMining
<\/a>Further information can be found at: www.meridianmining.co<\/a><\/p>\n
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