Meridian Announces Appointment of New Independent Director
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Meridian Announces Appointment of New Independent Director
LONDON, United Kingdom, July 13, 2023 / Accesswire / Meridian Mining UK S (TSX: MNO) (OTCQX:
MRRDF) (Frankfurt/Tradegate: 2MM) (“Meridian” or the “Company”) is pleased to announce the
appointment of Mr. Douglas E. Ford as a new independent director to the Board of Directors (the “Board”),
with immediate effect. Mr. Ford, who is considered independent within the meaning of National
Instrument 52-110, has also been appointed as Chairman of the Audit Committee of the Board and as a
member of the Compensation Committee of the Board.
Mr. Ford brings over 35 years of board and management experience with public and private companies
in governance, compliance, due diligence, financial reporting and corporate finance over a variety of
industries from mineral and energy exploration/development to biotechnology, new technologies and
emerging businesses in Canada, the United States and Europe. Mr. Ford serves as Managing Director of
Dockside Capital Group Inc., a family -office involved in venture capital investing and merchant banking ,
since 1987; as CFO and a director of Chemistree Technology Inc., a CSE-listed investment company, since
2008; and Lead Director of North American Nickel Inc. (now, Premium Nickel Resources Ltd.), a TSXV -
listed company, from 1992 to August 2022. Mr. Ford has also been a director and member of various
audit, compensation, corporate governance and nominating committees of other public -listed mineral
exploration companies. Mr. Ford holds a BA in Political Science from the University of British Columbia
(1986).
Dr. Adrian McArthur, CEO and director of the Company, comments: “We are delighted to welcome Doug
to our Board , as part of our ongoing board strengthening process. I am confident that his depth of
corporate and finance experience will be significant to our team as we continue to unlock the potential of
the Cabaçal VMS Gold-Copper project.”
ABOUT MERIDIAN
Meridian Mining UK S is focused on:
• The development and exploration of the advanced stage Cabaçal VMS gold‐copper project;
• Regional scale exploration of the Cabaçal VMS belt;
• Exploration in the Jaurú & Araputanga Greenstone belts ( the above all located in the State of
Mato Grosso, Brazil); and
• Exploring the Espigão polymetallic project in the State of Rondônia, Brazil.
Cabaçal is a gold-copper-silver rich VMS deposit with the potential to be a standalone mine within the
50km VMS belt. Cabaçal’s base and precious metal -rich mineralization is hosted by volcanogenic type,
massive, semi-massive, stringer, and disseminated sulphides within deformed metavolcanic-sedimentary
rocks. A later-stage sub-vertical gold overprint event has emplaced high-grade gold mineralization cross-
cutting the dipping VMS layers.
The Cabaçal Mineral Resource estimate consists of Indicated resources of 52. 9 million tonnes at 0.6g/t
gold, 0.3% copper and 1.4g/t silver and Inferred resources of 10.3 million tonnes at 0.7g/t gold, 0.2%
copper & 1.1g/t silver (at a 0.3 g/t gold equivalent cut -off grade), including a higher-grade near-surface
zone supporting a starter pit.
The Preliminary Economic Assessment technical report (the “PEA Technical Report”) dated March 30,
2023, entitled: "Cabaçal Gold -Copper Project NI 43 -101 Technical Report and Preliminary Economic
Assessment, Mato Grosso, Brazil” outlines a base case after-tax NPV5 of USD 573 million and 58.4% IRR
from a pre -production capital cost of USD 180 million, leading to capital repayment in 10.6 months
(assuming metals price scenario of USD 1,650 per ounces of gold, USD 3.59 per pound of copper, and USD
21.35 per ounce of silver). Cabaçal has a low All-in-Sustaining-Cost of USD 671 per ounce gold equivalent
for the first five years, driven by high metallurgical recovery, a low life -of-mine strip ratio of 2.1:1, and
the low operating cost environment of Brazil (see press release dated March 6, 2023).
Readers are encouraged to read the PEA Technical Report in its entirety. The PEA Technical Report may
be found on the Company's website at www.meridianminig.co and under the Company's profile on
SEDAR at www.sedar.com.
The qualified persons for the PEA Technical Report are: Robert Raponi (P. Eng), Principal Metallurgist with
Ausenco Engineering), Scott Elfen (P. E.), Global Lead Geotech nical and Civil Services with Ausenco
Engineering), Simon Tear (PGeo, EurGeol), Principal Geological Consultant of H&SC, Marcelo Batelochi,
(MAusIMM, CP Geo), Geological Consultant of MB Geologia Ltda, Joseph Keane (Mineral Processing
Engineer; P.E), of SGS, and Guilherme Gomides Ferreira (Mine Engineer MAIG) of GE21 Consultoria
Mineral.
On behalf of the Board of Directors of Meridian Mining UK S
Dr. Adrian McArthur
CEO and Director
Meridian Mining UK S
Email: [email protected]
Ph: +1 (778) 715-6410 (PST)
Qualified Person
Dr. Adrian McArthur, B.Sc. Hons, Ph .D. FAusIMM., CEO and Director of Meridian as well as a Qualified
Person as defined by National Instrument 43-101, has reviewed and verified the technical information in
this news release.
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Further information can be found at: www.meridianmining.co
FORWARD-LOOKING STATEMENTS
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 under the
heading "Risk Factors" in Meridian's most recent Annual Information Form filed on www.sedar.com.
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 requ ired 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.