Meridian Secures Positive Amendment to Cabaçal Option Agreement

Meridian Secures Positive Amendment to

Cabaçal Option Agreement

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

U.S./

Amendment frees up reserved capital for further investment into resource development at Cabaçal

LONDON

,

Jan. 28, 2022

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

Frankfurt

: 2MM)

(Tradegate: 2MM) & (OTCQB: MRRDF), ("Meridian" or the "Company") is pleased to announce that

it has secured an amendment ("the Amendment") to the Cabaçal Purchase Agreement

1

("CPA")

that increases the available cash on hand to be invested in its ongoing resource development and

exploration activities at its camp scale Cabaçal Copper-Gold VMS Project ("Cabaçal") in

Mato

Grosso, Brazil

. The Amendment benefits all Meridian shareholders including those holding the rights

to the Vendor Shares of the CPA, whereby the 3

rd

Purchase Price installment of

USD 1.75M

has

been rescheduled for

August 1, 2023

unless accelerated upon completion of an equity financing. The

Amendment subject to certain conditions allows for a larger pool of the Company's capital to be

made available to the Cabaçal project in 2022 and into 2023.

Highlights of today's update:

Meridian positively amends the Cabaçal Purchase Agreement freeing up

USD1.75M

of working

capital; for near-term exploration

Capital reserved for 3

rd

Vendor consideration can now be made available for Meridians ongoing

copper-gold development program at Cabaçal.

The Vendors have agreed to the Company's initiative to free up the bulk of the capital reserves

allocated for the 3

rd

Vendor payment notionally anticipated for allocation during the 4

th

Quarter 2022

until

August 2023

. The Company is very grateful for the agreement by the Vendors to the

Amendment.

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.

_______________________________

1

See Meridian press releases August 26 and November 9, 2020

SOURCE

Meridian Mining UK Societas

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For further information:

Mr Gilbert Clark, Executive Chairman, Meridian Mining UK S, Email:

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

CO: Meridian Mining UK Societas

CNW 07:30e 28-JAN-22