Meridian Announces Grant of Stock Options
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Meridian Announces Grant of Stock Options
LONDON, United Kingdom, October 12, 2023 / Accesswire / Meridian Mining UK S (TSX: MNO) (OTCQX:
MRRDF) (Frankfurt/Tradegate: 2MM) (“Meridian” or the “Company”) announces that pursuant to the
Company’s Omnibus Incentive Plan, the Company has granted stock options to certain directors, officers
and employees o f the Company to acquire an aggregate of 950,000 common shares of the Company,
exercisable at C$0.50 per common share, for a period of 5 years.
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
• Advancing the portfolio of exploration projects 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 gold overprint event has emplaced high‐grade gold mineralization.
The Cabaçal Mineral Resource estima te 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 high er‐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.meridianmining.co and under the Company's profile on
SEDAR+ at https://www.sedarplus.ca.
The qualified persons for the PEA Technical Report are: Robert Raponi (P. Eng), Principal Metallurgist with
Ausenco Engineering), Scott Elfen (P. E.), Global Lead Geotechnical 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
Mr. Gilbert Clark
CEO and Director
Meridian Mining UK S
Email: [email protected]
Ph: +1 (778) 715‐6410 (PST)
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Further information can be found at: www.meridianmining.co
Qualified Person
Mr. Erich Marques, B.Sc., MAIG, Chief Geologist of Meridian Mining and a Qualified Person as defined by
National Instrument 43‐101, has reviewed, and verified the technical information in this news release.
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 Meridian's
most recent Annual Information Form filed on https://www.sedarplus.ca/ 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 infor mation, future events, or
results or otherwise.