MNO.TO · 2021-10-27 12:00:00

Meridian Drills New High Grade Gold Trend at Cabaçal and Reports Assays for Cabaçal Mine Area

Drill Results

Meridian Drills New High Grade Gold Trend at Cabaçal

and Reports Assays for Cabaçal Mine Area

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./

CD-063 intercepts new gold trend over

4.2m

with Visible Gold and assays up to 22.9g/t Au

LONDON

Oct. 27, 2021

/CNW/ - Meridian Mining UK S (TSXV: MNO) (

Frankfurt

: 2MM) (Tradegate: 2MM) (OTCQB:

MRRDF) ("Meridian" or the "Company") is pleased to provide an update on results from the ongoing drilling programs

at its Cabaçal Copper-Gold VMS Project ("Cabaçal") in

Mato Grosso, Brazil

. CD-063 was drilled to test a small

geophysical anomaly between the Cabaçal West target and the Cabaçal Northwest Extension's ("CNWE") zone. CD-

063 intersected VMS type Cu-Au mineralisation and an internal structural zone with visible gold was intercepted at

128.8m

and returned

4.8m

@ 0.2% Cu, 2.4g/t Au & 0.8g/t Ag from

128.8m

with individual gold assays of 7.2 and 22.9

g/t Au

. The high-grade Au structure is consistent in appearance to those reported within the Cabaçal Mine and

CNWE

. This new gold trend is entirely open, untested by angled drilling, and provides further future upside (Figure 1).

High-grade gold mineralization projecting immediately northwest along strike from the Cabaçal Mine was known to

form a structural corridor at least ~250m wide. The CD-063 intercept is

50m

Southeast from CD-038's

high-grade Au

interval that has values of up to 10.3 g/t Au (Figure 2) and indicates strong continuity and confirms a prospective

cross-strike footprint of at least ~500m for the late-stage gold event, opening a much broader domain to target the

high-grade gold potential.

The Company is also reporting assays for the Cabaçal Mine area where broad zones of VMS type Cu-Au sulphide

mineralization has been intercepted with localised internal structural zones of high-grade gold encountered, having

individual Au intervals grading up to 43.3g/t Au

_________________________

Sample CBDS07393 (131.0- 131.35m, 22.9 g/t Au, 0.7% Cu, 3.3 g/t Au); Sample CBDS07390 (129.6 - 130.0m, 7.2 g/t Au, 1.1% Cu, 2.3g/t Ag)

See Meridian News releases August 31, September, 2nd, 7th & 13th and October 21st 2021

See Meridian News release August 23rd 2021

Sample CBDS07098 (CD-062: 37.5 - 38.0m: 43.3 g/t Au, 0.4% Cu, 3.4 g/t Ag)

Highlights of today's update:

Meridian defines new high-grade gold zone with visible gold and assays up to 22.9 g/t Au;

Search corridor of Cabaçal's high-grade gold trend to be widened from the initial

250m

to ~500m;

CD-063 intercepts

4.8m

@ 0.2% Cu, 2.4g/t Au & 0.8g/t Ag;

including:

1.8m

@ 0.5% Cu, 6.3g/t Au and 1.4g/t Ag;

Cabaçal Mine area returns multiple zones of strong Cu-Au VMS and high-grade gold mineralization, including:

CD-062 (Central Copper Zone):

7.0m

@ 0.1% Cu,

4.1g/t Au

, & 0.4g/t Ag; and

CD-052 (Eastern Copper Zone):

31.3m

@ 0.7% Cu, 0.2g/t Au, 4.2g/t Ag, 0.6% Zn,

including:

8.2m

1.7% Cu

, 0.5g/t Au, 11.9g/t Ag, 1.9% Zn.

"Today's release further opens the prospectivity for further replications of high-grade gold veins overprinting Cabaçal's

VMS Cu-Au sequence", commented Dr

Adrian McArthur

, CEO and President. "The presence of high-grade gold

intervals within the VMS Cu-Au layers previously outside of the main Cabaçal trend, has confirmed an exciting ~500m

corridor for future infill drill programs. We have a growing interest to see if the VMS mine stratigraphy is the host for

these high-grade gold veins or if they are a separate feature that continues below the VMS sequence; that is yet

untested. As we develop these highly prospective extensions outside of the Cabaçal Mine, the ongoing drill program is

continuing within the mine area and delivering results comparable to the open ground to the Northwest. We are all

looking forward to future drilling and assay results."

Figure 1:

Drill map showing results reported today (CNW Group/Meridian Mining UK Societas)

Figure 2:

Examples of visible gold from late-stage high-grade veins in new trend : Left: CD-063; Sample CBDS07393

(131.0- 131.35m, 22.9 g/t Au, 0.7% Cu, 3.3 g/t Ag). Right : CD-038 : Sample CBDS04778 (96.55 – 97.0m, 10.3g/t

Au, 3.2% Cu, 12.6g/t Ag) (CNW Group/Meridian Mining UK Societas)

Northwestern corridor

The exploratory hole CD-063, part of a series of three holes drilled at the limit of the historical data, encountered the

VMS host units and overprinting high-grade gold veins. The extension of the gold event to this position shows there is

a significant footprint to the gold event, both along strike and down-dip from the mine. High-grade gold intervals

structurally overprinting the VMS sequenced were encountered (sample CBDS07393: 22.9g/t Au 0.7% Cu, 3.3 g/t Ag

over

0.35m

from

131.0m

; 7.2 g/t Au, 1.1% Cu, 2.3 g/t Ag over

0.4m

from

129.6m

) - part of an overall zone running

4.8m

@ 2.4g/t Au, 0.2% Cu, 0.8g/t Ag from

128.8m

, including

1.8m

@ 6.3g/t Au, 0.5% Cu, 1.4g/t Ag from

129.6m

There are similar gold zones in the two holes drilled immediately to the north (CD-038 – peak assay of 10.3 g/t Au,

3.2% Cu, 12.6g/t Ag over

0.45m

from 96.55 in CD-036). The mineralization is associated with overprinting quartz

veins – sulphide assemblages (pyrite-chalcopyite) and visible gold, not dissimilar to those present in the CNWE trend

and the Cabaçal Mine. The veins are at a high-angle to the VMS sequence and the significance of the results, is in

demonstrating the potential for gold mineralization extending the Cabaçal Mine trend's prospectively from ~250m to a

potentially

500m

wide zone trending Northwest. The understanding of geochemical/geological controls of this high-

grade gold overprinting at Cabaçal is evolving, and it is possible that these features may extend below the VMS host

units.

Results were reported for one hole in Cabaçal northwest extension "CNWE": CD-056 returned a wide footprint of

mineralization associated with the VMS Cu-Au-Ag stratigraphy:

6.8m

@ 0.2% CuEq (0.1% Cu, 0.1g/t Au, 0.3g/t Ag) from

18.7m

8.1m

@ 0.3% CuEq ( 0.4g/t Au, 0.3g/t Ag) from

32.0m

34.7m

@ 0.4% CuEq (0.2% Cu, 0.4g/t Au, 0.8g/t Ag) from

58.3m

Including

@ 1.1% CuEq (0.1% Cu, 1.6g/t Au, 0.8g/t Ag) from

89.0m

27.9m

@ 0.4% CuEq (0.3% Cu, 0.1g/t Au, 0.8g/t Ag) from

108.0m

The interval of mineralization from

89.0m

returned peak grades of 3.4g/t over

0.8m

(sample CBDS06674), and likely

represents a projection of the gold-dominant structure which will have some periodicity in grade distribution over the

950m

strike length projecting from the Cabaçal Mine (as the Cabaçal Mine does itself). The width of the mineralized

VMS package continues to be encouraging.

Cabaçal Mine Results

Results reported are part of the definition program of the Cabaçal Mine, including tests on the peripheral up-dip and

down-dip edges of the deposit, and some holes targeted within the system of galleries.

Eastern Copper Zone ("ECZ"): CD-050,CD-051, CD-052, CD-055, CD-060, CD-061.

Central Copper Zone ("CCZ"): CD-062

Southern Copper Zone ("SCZ"): CD-047, CD-048

All holes returned mineralization. Of particular interest were the results of hole CD-052 (a hole drilled outside of the

limits of the historical resource), returning stronger than expected result:

31.3m

@ 1.0% CuEq (0.7% Cu, 0.2g/t Au, 4.2g/t Ag, 0.6% Zn) from

64.2m

Including

8.2m

@ 2.7% CuEq (1.7% Cu, 0.5g/t Au, 11.9g/t Ag, 1.9% Zn) from

86.8m

CD-052 is an example of mineralization concealed under a gently dipping post-mineralization sill, which conceals the

geochemical response of the deposit at surface. The hole passed through gabbro to a depth of

43m

then into the

mine sequence stratigraphy. The results demonstrate Meridian's interpretation that the system remains open and

strong, with further definition required to the southeast. CD-053 is located

150m

south-east of the limit of underground

development.

Results of CD-062 are consistent with the expected wide footprint in mineralization in the core of the deposit:

intersected multiple mineralized horizons from near-surface:

13.6m

@ 0.5% CuEq (0.4% Cu, 0.0g/t Au, 1.2g/t Ag) from

13.5m

7.0m

@ 2.6% CuEq (0.1% Cu, 4.1g/t Au, 0.4g/t Ag) from

31.0m

33.4m

@ 0.8% CuEq (0.4% Cu, 0.8g/t Au, 1.5g/t Ag) from

45m

, including

8.5m

@ 1.1% CuEq (0.2% Cu, 1.6g/t Au, 0.8g/t Ag) from

51.5m

2.1m

@ 0.6% CuEq (0.2% Cu, 0.6g/t Au, 1.1g/t Ag) from

85.0m

Results from CD-062 of

7.0m

@ 4.1g/t Au, 0.1% Cu, 0.4g/t Ag confirm the presence of gold mineralization above the

historical 3g/t Au cut-off grade preserved as predicted in the pillars of the selective room and pillar mining.

Mine Extensions – southeastern corridor

Three exploratory holes were drilled to the far south of mine setting. Hole CD-065 is located

550m

southeast step-out

from the Cabaçal Mine, an angled hole drilled to project beneath the post-mineralization mafic sill. The presence of the

mineralized mine sequence stratigraphy was confirmed in the hole with:

9.8m

@ 0.6% CuEq (0.5% Cu, 0.2g/t Au, 2.1g/t Ag) from

125.0m

Sample CBDS07629 (133.75 -

134.10m

), logged with visible gold, returned 1.3% Cu, 2.2 g/t Au, 8.3 g/t Ag. A screen

fire assay check has been requested on the interval, to check on the interval due to its coarse gold nature. The

position aligns with a linear projection of the SCZ, and further reconnaissance drilling will be undertaken to test for the

projection of high-grade trends of the ECZ, CCZ and SCZ to the south, having demonstrated the mine sequence

continues to be mineralized and open hundreds of meters beyond the southern limit of the workings.

Two other exploratory holes were drilled, with CD-057 testing a geophysical target which was found to be associated

with more pyritic-pyrrhotite dominant sulphides in a hanging wall position (limit of footwall felsic volcanic unit ("TAC")

not reached). The hole intersected trace mineralization (

3.5m

@ 0.1g/t Au from

57.0m

;

7.0m

@ 0.1% Cu, from

101.0m

). Further exploration of the deeper TAC contact in the area will follow further geophysical studies). One

additional hole (CD-059) was drilled

630m

southeast of the mine and terminated in the gabbroic sill.

Complete assays are pending for Cabaçal West holes CD-058 and CD-066, which have been dispatched to ALS to

assist with high-precision pathfinder element analysis, and will be reported separately in conjunction with the

observations from the current hole with remains in progress.

Hole Id

Zone

Intercept

Grade

From

CuEq

(m)

(%)

(g/t)

(%)

(m)

CD-047

SCZ

5.0

0.8

0.7

0.1

2.3

0.1

0.0

38.0

15.0

0.9

0.4

0.7

0.8

0.0

59.0

18.5

0.2

0.1

0.5

0.0

76.7

CD-048

SCZ

10.0

0.2

0.1

0.0

0.6

0.0

8.0

4.2

0.6

0.5

0.1

1.0

0.0

31.8

23.0

0.6

0.1

0.8

0.3

0.0

42.0

4.8

0.4

0.3

0.1

2.0

0.0

77.0

CD-050

ECZ

18.5

0.3

0.2

0.1

1.2

0.0

5.5

CD-051

ECZ

18.7

0.3

0.0

0.9

0.0

7.3

3.5

1.0

0.6

0.2

3.5

0.5

0.1

33.5

CD-052

ECZ

1.6

1.4

0.2

3.0

0.0

59.3

31.3

1.0

0.7

0.2

4.2

0.6

0.0

64.2

Inc

8.2

2.7

1.7

0.5

11.9

1.9

0.0

86.8

CD-055

ECZ

15.2

0.5

0.3

1.4

0.0

52.4

CD-056

CNWE

6.8

0.2

0.1

0.3

0.0

18.7

8.1

0.3

0.0

0.4

0.3

0.0

32.0

34.7

0.4

0.2

0.4

0.8

0.0

58.3

Inc

4.0

1.1

0.1

1.6

0.8

0.0

89.0

27.9

0.4

0.3

0.1

0.8

0.0

108.0

CD-057

3.5

0.1

0.0

0.1

0.0

57.0

7.0

0.1

0.0

0.3

0.0

101.0

CD-058

Pending

CD-059

Regional

No significant Intersection

CD-060

ECZ

37.0

0.5

0.0

1.8

0.0

2.0

9.5

1.4

0.8

0.7

3.2

0.2

0.0

48.0

CD-061

ECZ

5.7

0.3

0.0

0.8

0.0

8.4

7.3

0.2

0.0

0.8

0.0

27.1

11.5

0.7

0.6

0.2

2.5

0.1

0.0

40.4

1.2

1.4

0.5

0.1

3.6

2.7

0.1

56.0

CD-062

CCZ

13.6

0.5

0.4

0.0

1.2

0.0

13.5

7.0

2.6

0.1

4.1

0.4

0.0

31.0

33.4

0.8

0.4

0.8

1.5

0.0

45.0

Inc

8.5

1.1

0.2

1.6

0.8

0.0

51.5

2.1

0.6

0.2

0.6

1.1

0.0

85.0

CD-063

7.0

0.3

0.0

0.3

0.0

96.0

4.8

1.7

0.2

2.4

0.8

0.0

128.8

Inc

1.8

4.3

0.5

6.3

1.4

0.0

129.6

CD-064

CNWE

Pending

CD-065

9.8

0.6

0.5

0.2

2.1

0.0

125.0

Drill Details

Hole Id

Dip

Azimuth

EOH

CD-047

-90

000

109.0

CD-048

-90

000

90.2

CD-049

-50

060

132.3

CD-050

-60

045

73.0

CD-051

-90

000

50.4

CD-052

-89

068

109.3

CD-053

-70

045

217.8

CD-054

-49

060

186.6

CD-055

-89

334

92.8

CD-056

-50

060

150.9

CD-057

-65

045

126.8

CD-058

-70

045

441.1

CD-059

-50

045

150.3

CD-060

-50

045

99.8

CD-061

-90

000

75.0

CD-062

-90

000

96.7

CD-063

-50

060

251.5

CD-064

-55

060

145.0

CD-065

-50

045

213.8

* ECZ: Eastern Copper Zone, CCZ: Central Copper Zone, SCZ: Southern Copper Zone, CNWE: Cabaçal NorthWest

Extension, CS: Cabaçal South

Notes

Holes have been drilled HQ through the saprolite and upper bedrock and then reduced to NQ – mineralized

intervals represent half HQ or NQ drill core. Samples have been analysed at the accredited SGS laboratory in

Belo

Horizonte

. Gold analyses have been conducted by FAA505 (fire assay of a 50g charge), and base metal analysis by

methods ICP40B and ICP40B_S (four acid digest with ICP-OES finish). Samples are held in the Company's secure

facilities until dispatched and delivered by staff and commercial couriers to the laboratory. Pulps are retained for

umpire testwork, and ultimately returned to the Company for storage. The Company submits a range of quality

control samples, including blanks and gold and polymetallic standards supplied by ITAK and OREAS,

supplementing laboratory quality control procedures. True widths are interpreted to be ~90% of intersection widths.

Qualified Person

Dr.

Adrian McArthur

, B.Sc. Hons, PhD. FAusIMM., CEO and President of Meridian as well as a Qualified Person as

defined by National Instrument 43-101, has supervised the preparation of the technical information in this news

release.

On behalf of the Board of Directors of Meridian Mining UK S

Dr.

Adrian McArthur

CEO, President and Director

Meridian Mining UK S

Email:

[email protected]

Ph: +1 (778) 715-6410 (PST)

Stay up to date by subscribing for news alerts here:

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Follow Meridian on Twitter:

https://twitter.com/MeridianMining

Further information can be found at

www.meridianmining.co

ABOUT MERIDIAN

Meridian Mining UK S is focused on the acquisition, exploration, and development activities in

Brazil

. The Company is

currently focused on resource development of the Cabaçal VMS Copper-Gold project, exploration in the Jaurú &

Araputanga Greenstone belts located in the state of

Mato Grosso

; exploring the Espigão polymetallic project and the

Mirante da Serra manganese project in the State of Rondônia

Brazil

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 include, among others, statements with respect to the

Company's plans for exploration, development and exploitation of its properties and potential mineralization. These

statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and

other factors, which may cause the actual results, performance, or achievements to be materially different from any

future results, performance or achievements expressed or implied by the statements. Such risk factors include, among

others, failure to obtain regulatory approvals, failure to complete anticipated transactions, the timing and success of

future exploration and development activities, exploration and development risks, title matters, inability to obtain any

required third party consents, operating risks and hazards, metal prices, political and economic factors, competitive

factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision,

seasonality, technological change, industry practices and one-time events. In making the forward-looking statements,

the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the

proposed exploration, development and exploitation of mineral projects will proceed as planned; (2) market

fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be

available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any

forward-looking statements whether as a result of new information, future events or otherwise except as otherwise

required by applicable securities legislation.

The Company cautions that it has not completed any feasibility studies on any of its mineral properties, and no mineral

reserve estimate or mineral resource estimate has been established. Geophysical exploration targets are preliminary

in nature and not conclusive evidence of the likelihood of a mineral deposit.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither TSX

Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture

Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE

Meridian Mining UK Societas

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/October2021/27/c3358.html

%SEDAR: 00040264E

For further information:

Dr. Adrian McArthur, CEO, President and Director, Meridian Mining UK S, Email:

[email protected], Ph: +1 (778) 715-6410 (PST)

CO: Meridian Mining UK Societas

CNW 07:30e 27-OCT-21

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