Meridian Mining Makes First Option Payment on Cabacal Project Due diligence commences on extensive technical database

Meridian Mining Makes First Option Payment

on Cabacal Project

Due diligence commences on extensive technical database

London, United Kingdom--(Newsfile Corp. - September 3, 2020) -

Meridian Mining SE (TSXV: MNO)

("Meridian" or the "Company") today announces that it has commenced due diligence on the Cabaçal

Copper-Gold Project ("Cabaçal"), in the state of Mato Grosso, Brazil (Figure. 1), following the first

payment of the staged option agreement

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. Initial reviews are focussed on the extensive diamond drill

hole ("DDH") database to confirm Cabaçal's prospectivity. This has already generated indications that

the main mineralised zone has silver ("Ag"), zinc ("Zn") and lead ("Pb") contents of interest, in addition to

the copper ("Cu") and gold ("Au") mineralisation previously reported.

The Company has reviewed more closely the results of 2015 DDH AMCD-15-005 that twinned historical

DDH JUSPED-31. The complete suite of assay data in AMCD-15-005 (Figure 2) shows that Cabaçal

has broader stream of metals to be considered when evaluating resource modelling and processing

scenarios. Hole AMCD-15-005, Lower Zone, was previously summarized as returning 45m @ 0.73% Cu

& 0.34 g/t Au.

The highlights of the full assay suite are:

45m @ 0.73% Cu, 0.34g/t Au, 8.3g/t Ag, 0.78% Zn, 0.17% Pb from 149m, (estimated true

width 39.0m)

Including:

28m @ 1.01% Cu, 0.47g/t Au 11.9 g/t Ag, 1.19% Zn, 0.27% Pb from 166m (estimated true

width 24.2m); and

Peak assay values of 3.1% Cu, 2.35 g/t Au, 50.8g/t Ag, 5.01% Zn, 1.12% Pb over 1m from

181m (estimated true width 0.87m)

The intersection highlights the broad style of mineralization, ranging from massive / semi-massive to

stringer / disseminated. The results show that whilst sectors of the mineral system are dominant in Cu or

Cu-Au, other parts host a broader stream of potential base metal and silver credits. The previously

recorded historical resource

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was estimated on a copper-equivalent cut-off basis, using only the Cu and

Au assays, despite historical sales of Cu-Au-Ag (from the Cabaçal mine) and Zn and Cu-Au-Ag

concentrates from the adjacent Santa Helena mine.

The undeveloped Cu-Au-Ag plus Zn-Pb mineralization zone at Cabaçal extends beyond historical

selective high-grade underground workings with residual mineralisation delineated by over 400 surface

drill holes

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. A focus of the technical review is to confirm the scope of work required to bring the historical

resource to a NI-43-101 standard in advance of a feasibility study and to understand sources of upside

in exploration and in processing routes. The Company will be reviewing the BP Minerals / Rio Tinto

reports to access what suite of metals have been analysed but not yet fully compiled.

Dr Adrian McArthur, CEO & President, states, "We have been encouraged by what we have seen in the

first days of the technical review. Understanding the broader distribution of base and precious metal

credits through compilation of the historical data and/or check drilling will be key to optimizing this

opportunity, in a climate which is seeing a resurgence in base and precious metal values. The full assay

results of DDH AMCD-15-005 indicate that Cabaçal presents a strong copper gold project opportunity,

with additional potential for zinc, lead and silver credits".

Figure 1: Location of Cabaçal and Santa Helena mines in the Cabaçal Option Area.

To view an enhanced version of Figure 1, please visit:

https://orders.newsfilecorp.com/files/7354/63188_2d2f680e64225b47_001full.jpg

Figure 2: Full assay results of 2005 verification drilling compared to historical RTZ drilling, down-hole

widths.

To view an enhanced version of Figure 2, please visit:

https://orders.newsfilecorp.com/files/7354/63188_2d2f680e64225b47_002full.jpg

QUALIFIED PERSON

Dr. Adrian McArthur, B.Sc. Hons, PhD. FAusIMM., CEO and President of Meridian Mining 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 SE

Adrian McArthur

CEO, President and Director

Notes

Samples from the 2005 verification program were analysed at SGS GEOOL Laboratories (Belo

Horizonte). Gold was determined by fire assay and AAS finish of a 50 g charge (method FAA505).

Silver and base metals were determined by multiacid digest with AAS finish (method AAS41B).

Quality

control involved company-submitted blanks, duplicates, and certified standards from Geostats Pty Ltd

(GBM399-6, GBM998-4), supplementing SGS QAQC procedures.

ABOUT MERIDIAN

Meridian Mining SE is focused on the acquisition, exploration and development activities in Brazil. The

Company is currently focused on exploring the Espigão polymetallic project, the Mirante da Serra

manganese project, and the Ariquemes tin project in the state of Rondônia.

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 include, among others, statements with

respect to the Company's plans for exploration, development and exploitation of its properties and

potential mineralisation.

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.

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.

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

U.S

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News release of 26 August, 2020

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