MNO.TO · 2021-11-29 12:00:00

Meridian screen fire assaying of CD-072

Corporate Updates

returns 12.4m @ 16.6/t Au & 1.0% Cu

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

U.S./

Coarse gold in high grade gold veins captured by screen fire assay, Au veins grades up to

299.1g/t Au

LONDON

Nov. 29, 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 its ongoing drilling and exploration programs at its camp scale Cabaçal

Copper-Gold VMS Project ("Cabaçal") in

Mato Grosso, Brazil

. Meridian has confirmed that the re-

assaying of CD-072

located within the Cabaçal Northwest Extension ("CNWE"), has via screen fire

assay, captured the previously missed coarse gold ("Au") component hosted within the high-grade

Au veins intercepted and returned

49.0m

@ 4.3g/t Au, 0.4% Cu and 1.2 g/t Ag (previously

announced on

November 9, 2021

, as returning 49.0m @ 1.6g/t Au, 0.4% Cu and 1.2g/t Ag)

Meridian is also announcing that CD-071, collared

100m

Northwest of the Cabaçal mine has

intercepted high-grade Au structures overprinting shallow layers of VMS style copper ("Cu"), Au, and

silver ("Ag") and effectively connected the mine's Cu-Au mineralization with that of the CNWE's. This

near surface continuous trend of VMS Cu-Au-Ag layers overprinted by high grade Au structures has

now been defined by Meridian's ongoing drill program to over a ~1,700m strike length that remains

open (Figure 1). This has been further confirmed by CD-068 collared in the Eastern Copper Zone

("ECZ") that has also intercepted a broad VMS Cu-Au-Ag layer overprinted by a high-grade Au

structure.

Highlights of today's update:

Meridian's CD-072 assays

49.0m

@ 4.3g/t Au, 0.4% Cu & 1.2 g/t Ag

from

43.0m

; including:

12.4m

@ 16.6g/t Au, 1.0% Cu, 2.8g/t Ag from

73.0m

; including:

3.2m

@ 62.7g/t Au, 1.4% Cu & 5.3g/t Ag from

79.4m

;

High-grade Au veins with grades up to 299.1g/t Au over

0.55m

;

CD-071 links historical Cabaçal underground mine to Cabaçal Northwest Extension and assays;

29.5m

@ 0.6% CuEq (0.2% Cu, 0.7g/t Au & 1.1g/t Ag) from

45.9m

including:

10.2m

@ 1.0% CuEq (0.1% Cu, 1.5g/t Au & 0.3g/t Ag) from

46.6m

;

Multiple high grade overprinting gold structures intercepted with peak gold intervals of:

13.5g/t Au over

0.4m

from

46.6m

and 5.6g/t Au over

1.4m

from

55.4m

;

CD-068 intercepts broad VMS Cu-Au-Ag layer overprinted by a high-grade Au structure in the

ECZ;

45m

@ 0.5% CuEq (0.4% Cu, 0.3g/t Au & 1.0g/t Ag) from

14.0m

including:

@ 3.5g/t Au, 0.5% Cu & 1.9g/t Ag from

34m

; and

9.1m

@ 0.6% CuEq (0.4% Cu, 0.1g/t Au & 1.8g/t Ag) from

67.0m

;

6.9m

@ 1.1% CuEq (0.7% Cu, 0.2g/t Au, 4.0g/t Ag & 0.9% Zn) from

82.4m

;

Results and next step's for Cabaçal West target outline.

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 ("Cu") 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 ("Au") & Silver ("Ag") 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.

________

See Meridian news release November 9, 2021

Adrian McArthur

, CEO and President of Meridian, comments, "The screen fire assay reanalysis

of the high-grade gold mineralization in CD-072 confirms our team's visual observation of abundant

coarse gold mineralization in the core. The drill results in the CNWE and ECZ continue to align our

geological model of high-grade gold structures overprinting a much broader envelop of VMS Cu-Au-

Ag mineralization. As we move forward, and as visible gold is not an uncommon occurrence, when-

ever it is logged in the core we will be screen fire assaying that interval. CD-071's result confirms,

that the Cabaçal deposit was selectively mined to the limit of its grade control data and finished in

open mineralization, that we have extended

700m

to the northwest and

500m

to the southeast; and it

is still open with further results pending. BP's 1980's surface program was too widely spaced to

define all the high-grade gold structures we are frequently encountering overprinting Cabaçal's VMS

Cu-Au-Ag layers. The Company will be focussing immediate drill priorities on this shallower

mineralization at Cabaçal and it's extensions which are within easy reach of open-pit development."

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

Drilling Program – Cabaçal and Extensions

CD-072 was drilled along strike from and previously reported high-grade in the CNWE, being a

50m

sectional step out to CD-049

which returned

53.7m

@ 10.8g/t Au, 0.3% Cu, 1.3g/t Ag, including

8.0m

@ 71.3g/t Au, 0.4% Cu, 5.1g/t Ag from

83.0m

. The new results reported today, confirms that

the Company's QA/QC protocols work and that checks implemented to verify the repeatability in the

presence of coarse gold

work. Samples were repeated by the metallic screen fire assay method,

resulting in more accurate characterisation of the coarse gold population and an upgrade to the

mineralized interval, now being

49.0m

@ 4.3g/t Au

, 0.4% Cu & 1.2 g/t Ag from

43.0m

;

including:

12.4m

@ 16.6g/t Au, 1.0% Cu

, 2.8g/t Ag from

73.0m

; including:

3.2m

@ 62.7g/t Au, 1.4% Cu,

5.3g/t Ag from

79.4m

. As a result of the review, screen fire assay will be the default analytical

methods for intervals in which visible gold is now observed.

Figure 2: Cross-section looking northwest, of updated screen fire assay results for CD072, in

relation to historical JUSPD231. Left assay is CuEq%, right assays are Cu %, Au g/t & Ag g/t. Zn &

Pb not displayed (CNW Group/Meridian Mining UK Societas)

CD-071 was drilled as part of the CNWE's ongoing infill drill program to cover a gap between the

limit of historical underground mine development and the recent high-grade Cu-Au-Ag results. The

Northwestern limit of the mine's development corresponds to a rapid decrease in the drill spacing,

from tightly-spaced surface and underground grade control with drill grids at 10-

20m

spacings, to 50

then

100m

spaced vertical holes (Figure 3). The mine's historical cut-off grade was defined on

intervals equivalent to >

1.8m

@ 3.0g/t. CD-071 was drilled as an angled hole and confirmed that

the mine's ~550 strike of broad VMS Cu-Au-Ag layer overprinted by a high-grade Au structure

continues uninterrupted a further

700m

to the Northwest where it remains open, as it does ~500m to

the Southeast.

__________

Meridian News Release of September 7, 2021

Meridian News Release of November 9, 2021.

Figure 3 CD-071 Cross section and focus view looking northwest, grade-colour scale as per figure 1

(CNW Group/Meridian Mining UK Societas)

The Company's ongoing drilling is infilling and extensional drilling along the larger

2,000m

prospective

zone. With holes testing the CNWE's extensions and twinning some 1980's BP narrow diameter

(AQ) exploration holes as part of the validation program. Assays are pending for holes CD-077, 078,

080, 082, 083, 084. Hole CD-064 is undergoing QA/QC repeat analysis. A number of cross-

structures were historically interpreted at the Northwestern limits of the CNWE, and the next phase

of work will include infill holes across strike to better define the footprint of the VMS Cu-Au-Ag zones

and the overprinting high-grade Cu structures

Within the ECZ, hole CD-068 (Figure 4) was drilled to the southeast of CD-045

and returned a

higher-grade gold interval within the broader predicted Cu-Au Ag envelope. The structure appears to

align as a moderate to steeply SW dipping trend, with further work to test for a southernly plunge to

the position.

Figure 4: Cross section of CD-045 to CD-068 looking northwest, grade-colour scale as per Figure 1

(CNW Group/Meridian Mining UK Societas)

The Company has commenced the first of its metallurgical holes within the mine environment, with

first holes to target the Southern and Eastern Copper Zones.

_______

Meridian News Release of August 31, 2021

Cabaçal West Update

The Company is concluding a third hole targeting the Cabaçal West electromagnetic ("EM")

anomaly. Drilling has intersected localized Cu-Au-Ag stringer mineralization and late – stage quartz

vein overprinting structures with minor Zn-bearing stratiform sulphide horizons; typical of VMS

alteration halos. CD-075 intersected a deformed and altered meta-felsic volcanic in a higher-than-

expected position. The Company is encouraged by the level of alteration seen but it is yet to

intersect a coherent massive Cu/Zn/Pb sulphide source associated with Cabaçal West's conductors.

The three closely spaced holes show highly variable geology and coupled with the high-strain

tectonic environment indicates a more complicated geology of folding / faulting of the host

stratigraphy and boudinage of associated sulphides (as seen in the Cabaçal and

St Helena

mines).

This maybe be further influenced, by the complexity of the host volcano-sedimentary environment

(with domal intrusions). As Cabaçal West's EM conductors are linear (Maxwell Plates) modelled by

the strongest conductive units. These linear EM conductors are unable to replicate the geometry of

the deformed host geology encountered by CD-058, CD-066 & CD-075 so more accuracy and

information is needed to do so.

To create a clearer targeting (geological/geophysical) model for the next drill program, Meridian will

shortly commence a 3D Induced Polarization ("IP") survey, using its own equipment already on-site.

3D IP can be modelled to reflect the conductive mineralization trends hosted by this deformed

geology encountered. This will be then combined with the Cabaçal West's EM conductors to

generate more precise targets for the next drill program and potentially unlock this near-mine upside.

The Company has received results from CD-058 and CD-066 at Cabaçal West. Peak assays were

returned by of 1.7% Cu, 0.4g/t Au, 2.6 g/t Ag over

0.35m

and 1.1% Zn, 1.0% Pb, 0.3% Cu, 0.1 g/t

Au, 65.6 g/t Ag over

0.6m

with additional intervals of disseminated sulphide mineralization; an

alteration halo in CD-058 (interval sampled continuously between 350 -

403.5m

averaging 0.12%

combined Cu+Pb+Zn). CD-066 expressed a similar broad halo (

58m

@ 0.17% combined Cu+Pb+Zn

from

332m

), with peak assays of 1.8% Cu over

0.45m

Table 1 Cabaçal Assays reported today.

Hole Id

Zone

Intercept

Grade

From

CuEq

(m)

(%)

(g/t)

(%)

(m)

CD-058

53.5

0.1

0.07

0.01

0.83

0.04

0.02

350.0

Including

0.35

2.0

1.7

0.4

2.6

0.0

381.0

0.6

1.3

0.3

0.1

65.6

1.1

1.0

396.0

CD-066

58.0

0.1

0.10

0.01

4.2

0.06

0.01

332.0

Including

0.45

1.8

0.1

3.0

0.0

369.1

7.0

0.1

0.07

0.01

0.89

0.20

0.03

544.0

CD-068

ECZ

45.0

0.5

0.4

0.3

1.0

0.0

14.0

Including

3.0

2.6

0.5

3.5

1.9

0.0

34.0

And

9.1

0.6

0.4

0.1

1.8

0.0

67.0

6.9

1.1

0.7

0.2

4.0

0.9

0.0

82.4

CD-071

CNWE

3.0

1.1

0.8

0.4

2.7

0.0

19.0

2.0

0.4

0.3

0.2

0.8

0.0

36.0

29.5

0.6

0.2

0.7

1.1

0.0

45.9

Including

10.2

1.0

0.1

1.5

0.3

0.0

46.6

Including

0.4

8.1

0.0

13.5

0.2

0.0

46.6

Including

1.4

3.4

0.2

5.6

0.9

0.0

55.4

CD-072

CNWE

49.0

3.0

0.4

4.3

1.2

0.0

43.0

Including

12.4

11.0

1.0

16.6

2.8

0.0

73.0

Including

3.2

N/A

1.4

62.7

5.3

0.0

79.4

Including

0.55

N/A

3.0

299.1

18.8

0.0

0.2

79.7

Drill Details

Hole Id

Dip

Azimuth

EOH

CD-058

-70

042

441.1

CD-066

-69

049

590.6

CD-068

-55

045

112.4

CD-071

-50

060

126.6

CD-072

-50

060

115.1

* CNWE: Cabaçal Northwest Extension, CW: Cabaçal West, ECZ: Eastern Copper Zone.

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). Reanalysis of samples associated with the visible gold interval has

been conducted at SGS by metallic screen fire assay method MET150-FAASCR, with these results

given priority. 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 approximately 80% of

downhole lengths and assay figures and intervals rounded to 1 decimal place.

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

Meridian Mining UK S

Email:

[email protected]

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

Stay up to date by subscribing for news alerts here:

https://meridianmining.co/subscribe/

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/November2021/29/c4482.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 29-NOV-21

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