MNO.TO · 2022-05-11 12:00:00

Meridian Drills Significant Visible Gold Within The Cabaçal Mine & Reports Further Northwest Extension Results Drilling intersects the strongest layer of visible gold at the Cabaçal Mine and further visible gold at CNWE

Drill Results

Meridian Drills Significant Visible Gold Within

The Cabaçal Mine & Reports Further

Northwest Extension Results

Drilling intersects the strongest layer of visible gold at the Cabaçal Mine and further visible gold at

CNWE

LONDON

May 11, 2022

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

Frankfurt

/Tradegate: 2MM)

(OTCQB: MRRDF), ("Meridian" or the "Company") is pleased to announce it has intersected the

strongest zone of layered gold mineralization with CD-128 returning multiple visible gold occurrences

between 70.2 to

73.3m

(Photo 1), within the Southern Copper Zone ("SCZ") hosted by a broad

package of copper-gold VMS mineralization. The Cabaçal Mine's historical data indicates, that some

of the copper-gold VMS layers included garnet-rich bands hosting visible gold which reported some

of the highest gold grades. Meridian is also reporting further results from the Cabaçal Northwest

Extension ("CNWE"). CD-110's gold only layer has assayed

31.3 m

@ 1.0g/t Au, 0.1% Cu from

20.2m

with a high-grade zone of

10.4m

@ 2.3g/t Au from

32.5m

. The CNWE's drilling continues

along and across strike, where further visible gold has been intersected by CD-127; assays are

pending (Figure 1). These results show good continuity of the western extensions to the CNWE's

newly defined gold trend. Drilling is ongoing with further results pending.

Highlights of today's announcement:

Meridian intersects strongest layer of visible gold within the Cabaçal Mine;

Infill drilling in the Cabaçal Mine returns new zone of abundant visible gold;

CD-128 returns strongest visible gold intersection from the Southern Copper Zone

("SCZ")

;

Multiple coarse gold intervals within copper-gold VMS layer between 70.2 to

73.3m

;

Garnet-host to mineralization historically noted to be one of the richest host rocks;

CNWE's western trend of gold overlaying copper-gold VMS mineralization extended further;

CD-110 assays confirm good continuity in new CNWE western structure;

CD-110 assays:

31.3 m

@ 0.7 % CuEq

(0.1 % Cu, 1.0 g/t Au & 0.2 g/t Ag) from

20.2 m

Gold only structure:

26.4m @

1.1g/t Au & 0.1g/t Ag from

20.2m

;

Including:

10.4m

2.3g/t Au & 0.1g/t Ag from

32.5m

;

High grade-gold overprinting structure assays

♦ 10.0g/t Au over

0.80m

from

34.2m

(sample: CBDS14660);

♦ 8.6g/t Au over

0.75m

from

37.65m

(sample: CBDS14665);

Lower VMS layer

24.4 m

@ 0.4% Zn, 0.1% Cu, 0.1g/t Au & 1.0g/t Ag from

53.7m

; and

CNWE's mineralization continues to be open, with further visible gold drilled;

Visible gold logged in CD-127 (assays pending) aligning with 2

CNWE gold trend.

Note: Copper Equivalents ("CuEq") have been calculated using the formula CuEq = ((Cu%*Cu

price 1% per tonne) + (Au ppm*Au price per g/t) + (Ag ppm*Ag price per g/t) + (Zn%*Zn price 1%

per tonne)) / (Cu price 1 % per tonne). Commodity Prices: Copper and Zinc ("Zn") prices from

LME Official Settlement Price dated

April 23, 2021

USD per Tonne: Cu =

USD 9,545.50

and Zn =

USD 2,802.50

. Gold & Silver prices from LBMA Precious Metal Prices USD per Troy ounce: Au =

USD 1781.80

(PM) and Ag =

USD 26.125

(Daily). The CuEq values are for exploration purposes

only and include no assumptions for metallurgical recovery.

Adrian McArthur

, CEO and President of Meridian, comments: "Confirmation drilling has

delivered strong visual results from within the Cabaçal Mine's SCZ. CD-128 has cored a

particularly wide interval of abundant visible gold, which has been dispatched for priority analysis.

The visible gold's host unit included bands rich in the mineral garnet, which was historically noted

to be one of the richest units for hosting gold in the mine. The results continue to support our

expectation that significant high-grade copper-gold mineralization remains present in the mine

environment. The CNWE's resource drilling program continues to extend the footprint of the newly

defined western trend and its gold only layer. The

50m

spacing infill program of angled holes has

confirmed continuity in this trend, with CD-110's mineralization located between the robust

intersections of previously reported in CD-113 and CD-099. This gold only horizon again shows

signs of detachment from the flatter lying VMS host sequence which has local and more regional

implications in exploration for gold-dominant structures associated with the overprinting gold event.

With visible gold identified in CD-127 and assays pending, this trend is showing signs of growing

further along strike as infill drilling extends back towards the mine."

Figure 1. Distribution of results reported today. (CNW Group/Meridian Mining UK Societas)

Cabaçal Drilling Update

Hole CD-128 drilled within the SCZ, an area with historical workings. Has intersected a strong zone

of mineralization with visible gold observed in multiple intervals between 70.2 to

73.3m

, within a

broader interval of stringer to disseminated sulphides above the basal felsic volcanic "TAC" unit

intersected at

109.5m

. The gold is in part of a different style than previously reported, being hosted

within a horizon with a marked concentration of the aluminous mineral garnet. This known garnet-

gold association has returned some of the highest historical gold assays from the Cabaçal Mine,

with peak grades of JUSPD111 (collared

115m

east-south-east of CD-128 returned) returning

1,182.4g/t Au over

1.04m

from

59.3m

. The lower part of the interval 70.2 to

73.3m

contained further

visible gold hosted by quartz-sulphide (chalcopyrite) veins and within the foliated mine sequence

units. This further confirms the Company's observations that within the Cabaçal Mine's limits,

significant high-grade copper-gold mineralization remained after mining ceased in 1991. Samples

have been dispatched with priority, with assays pending.

Figure 2: Top: CD-128 Visible gold (circled) within garnet-rich mine sequence host rock. Bottom: left,

detail of gold within garnet matrix (red mineral), and right margin of sulphide band, in the interval

70.23m-70.53m. (CNW Group/Meridian Mining UK Societas)

CNWE assay results

CD-110 reported today, is an infill hole located between the CD-099 and CD-113, and includes a

broad zone of gold mineralization, also hosted a sub-vertical overprinting structure. This gold interval

projects above the underlying VMS mineralization horizon. CD-110's results confirm good grade

continuity, returning:

31.3m

@ 0.7% CuEq (1.0g/t Au, 0.1% Cu & 0.2g/t Ag) from

20.2m

Including:

10.4m

@ 1.6% CuEq (2.3g/t Au & 0.1g/t Ag) from

32.5m

High grade-gold overprinting structure assays:

10.0g/t Au over

0.80m

from

34.2m

(sample: CBDS14660);

8.6g/t Au over

0.75m

from

37.65m

(sample: CBDS14665);

The results again confirm a wide footprint of mineralization extending beyond the narrow projection

previously modelled from the wide spaced vertical drilling. The lower VMS horizon reported

24.4m

@ 0.2% CuEq (0.1% Cu, 0.1g/t Au, 1g/t Ag, 0.4% Zn) from

53.7m

. There were signs of

strengthening zinc mineralization, with a peak assays of 4.2% Zn over

0.45m

(sample CBDS14688;

4.2% Zn, 0.1% Cu, 0.1g/t Au, 3.4g/t Ag, 0.4% Pb).

Results from ongoing resource definition drilling at Cabaçal continuing to extend upside potential for

the CNWE. The first results[1] from drill holes CD-113 and CD-099 in the western structure have

indicated potential for a strong new western trend and gold overprint. Infill drilling is continuing and

has already shown signs of further along strike extensions to this trend, with visible gold recorded in

the correlative sequence of CD-127 at a depth of

69.8m

within a broader package of altered mine-

sequence stratigraphy. CD-127 is collared

50m

south-east of CD-113, and

98m

southeast of CD-

110, and

147m

southeast of CD-099. The results show an expanding footprint to this second

structure with drilling remaining in progress.

CD108 – a CNWE cross-strike infill hole drilled further down-slope,

50m

to the southeast of CD-099.

This hole continued to intersect a mineralized copper-gold halo associated with the mineralized mine

sequence stratigraphy:

22.9m

@ 0.2% CuEq (0.2% Cu & 0.1g/t Ag) from

8.5m

; and

27.0m

@ 0.4% CuEq (0.2% Cu, 0.3g/t Au, 1.3g/t Ag & 0.1% Zn) from

36m

This position will also continue to be tested along strike. A peak assay of 1.5 g/t Au over

from

40.0m

(CBDS14050) may be indicative of a structural position.

[1] Meridian News Release of

26 April, 2022

Southern Copper Zone assay results

CD-107: a SCZ infill hole – covering an area of wider historical data coverage, confirming the

continued presence of a broader lower grade halo and higher grade mineralization around a void

intersected between 55.0 -

58.7m

22.0m

@ 0.2% CuEq (0.2% Cu & 0.4g/t Ag) from

11.0m

; and

32.0m

@ 0.4% CuEq (0.2% Cu, 0.4g/t Au & 0.6g/t Ag) from

43.0m

;

Including

7.8m

@ 1.1% CuEq (0.3% Cu, 1.3g/t Au & 0.4g/t Ag) from

52.0m

(void included)

Table 1: Cabaçal Assays reported today.

Hole Id

Zone

Intercept

Grade

From

CuEq

(m)

(%)

(g/t)

(%)

(m)

CD-110

CNWE

31.3

0.7

0.1

1.0

0.2

0.0

20.2

Including

26.4

0.7

0.0

1.1

0.1

0.0

20.2

Including

10.4

1.6

0.0

2.3

0.1

0.0

32.5

And

24.4

0.2

0.1

1.0

0.4

0.0

53.7

CD-108

CNWE

22.9

0.2

0.0

0.1

0.0

8.5

And

27.0

0.4

0.2

0.3

1.3

0.1

0.0

36.0

CD-107

SCZ

22.0

0.2

0.0

0.4

0.0

11.0

And

32.0

0.4

0.2

0.4

0.6

0.0

43.0

Including

7.8

1.1

0.3

1.3

0.4

0.0

52.0

Drill Details

Hole Id

Dip

Azimuth

EOH

CD-110

-48

188.1

CD-108

-48

61.1

CD-107

-89

100.5

* SCZ: Southern Copper Zone, CNWE: Cabaçal Northwest Extension

Notes

True widths are approximately 80-90% of downhole lengths and assay figures and intervals

rounded to 1 decimal place.

Holes are 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 ALS laboratory in

Lima

. Gold analyses have been conducted by Au-

AA23 (fire assay of a 30g charge with AAS finish). High-grade samples are repeated with a

gravimetric finish (Au-GRA21). Base metal analysis is by methods four-acid digestion and ICP-

AES finish (ME-ICP61a; Cu-OG62 for over-range samples). Samples are held in the Company's

secure facilities until dispatched and delivered by staff and commercial couriers to the laboratory.

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.

Qualified Person

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

Executive Chairman

Meridian Mining UK S

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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 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

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 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.

SOURCE

Meridian Mining UK Societas

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/May2022/11/c7158.html

%SEDAR: 00040264E

For further information:

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

CO: Meridian Mining UK Societas

CNW 06:15e 11-MAY-22

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