MNO.TO · 2021-06-28 12:00:00

Provides Cabaçal Exploration Update

Exploration Programs

Meridian Drills 46.0m @ 1.0% CuEq and

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

U.S./

Multiple high grade layers of Cu-Au mineralisation including

9.6m

@ 3.3% CuEq assayed

LONDON, United Kingdom

June 28, 2021

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

Frankfurt

2MM) ("Meridian" or the "Company") is pleased to report further assays from its ongoing

10,000m

drill program at its Cabaçal Copper-Gold camp-scale VMS project ("Cabaçal") in

Mato Grosso,

Brazil

. Further wide zones of significant and extensive Copper ("Cu"), Gold ("Au") and Silver ("Ag")

mineralisation starting at

, and with individual aggregated mineralisation intercepts exceeding

110m

, are reported for holes CD-014 to CD-019 (Table 1), within and extending out from the

Cabaçal Mine (Figure 1). Encouragingly, several results such as CD-017 returned broader than

expected envelopes of mineralization, providing potential upside to future resource calculations

where historic holes have been selectively sampled down hole. Meridian is also announcing the field

deployment of its modern and deep penetrating Electromagnetic ("EM") equipment with surveys in

progress over the priority

1,000m

long VTEM conductor of Cabaçal West and then progressing to

Cabaçal South's conductive corridor, extending out from the Cabaçal mine's historical limits.

Highlights of today's results:

Meridian drills

multiple zones of high grade copper gold

mineralisation at Cabaçal;

30.0m

40.0m

and

60.0m

wide intervals of strong Cu-Au mineralisation drilled at Cabaçal;

CD-017

returned

46.0m

@ 1.0% CuEq

from

29.0m

, including:

9.6m

@ 3.3% CuEq

from

56.0m

;

CD-019

returned

62.5m

@ 0.6% CuEq

from

12.0m

, including:

2.5m

@ 3.1% CuEq

from

20.7m

;

2.2m

@ 3.5% CuEq

from

53.5m

;

17.2m

@ 1.2% CuEq

from

130m

;

Total aggregate mineralisation was

110.7m

@ 0.6% CuEq

from

12.0m

;

CD-015 returned an aggregate

46.0m

@ 0.8% CuEq

from

40.7m

, including:

6.1m

@ 1.0% CuEq

from

67.2m

; and

4.5m

@ 3.0% CuEq

from

77.9m

CD-016

returned

26.0m

@ 0.5% CuEq

from

42.5m

CD-014*

returned

20.5m

@ 0.8% CuEq

from

54.0m

; including:

6.8m

@ 1.2% CuEq

from

55.6m

;

3.3m

@ 1.0% CuEq

from

69.2m

; and

CD-018*

returned

14.2m

@ 0.4% CuEq

from

9.0m

Further results from Cabaçal will be released throughout 2021 supported by the Company's strong

cash-on-hand position of CAD ~5.0M.

Note: True widths of CD-014 to 018 are approximately 90% of downhole lengths and assay figures and intervals are rounded to 1 decimal place; the true width for CD-019 is

approximately 75% of downhole lengths. 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.

"Today's high grade drill results starting at shallow depths are important in highlighting the excellent

open-pit geometry that Cabaçal presents." commented Dr

Adrian McArthur

, CEO and President.

"These results also really surprised us by defining thick shallow layers of Cu-Au-Ag mineralisation

next to BP's drill results, but at intervals they didn't assay. A common occurrence in the 1980's when

full sampling of core wasn't the norm. Our ongoing drilling is including a proportion of verification

targets but is also carefully targeting positions where data is sparse; outside of the mine's limits. We

have also launched the exciting next stage of geophysical surveys using our own modern IP & EM

equipment, that now is in the field. EM surveys have been initiated to map the down plunge cluster of

Cabaçal West VTEM conductors interpreted to be the potential massive sulphide pile of Cabaçal.

Then the EM surveys will continue SE, out from CD-004 that returned

15.9m

@ 4.0% CuEq.

The Company's program is advancing, with a combination of twin and infill Diamond Drill Holes

("DDH") straddling the Eastern-Copper Zone ("ECZ"), Central-Copper-Zone ("CCZ") and Southern-

Copper-Zone ("SCZ"). Over

4,800m

of drilling has been completed to date.

Central Copper Zone Results

CD-014

was designed to test Cu-Au mineralisation (and collared) proximal to BP Mineral's historical

DDH ("BP") JUSPD048 that returned

20.1m

@ 0.3% Cu, 0.0g/t Au from

22m

17.6m

@ 0.3% Cu,

0.1g/t Au from

47.4m

;

40.9m

@ 0.7% Cu, 0.6g/t Au from

68.4m

). CD-014 returned comparable

results to the upper copper zones of JUSPD048, of

26.4m

@ 0.3% Cu, 0.2g/t Au, 0.4g/t Ag from

20.0m

, and

20.5m

@ 0.6% Cu, 0.3g/t Au, 0.4g/t Ag from

54.0m

). CD-014 struck a void from

75.1m

78.5m

; and was terminated without replicating the lower results of JUSPD048.

CD-015

was designed to twin to BP's JUSPD068, which historically returned

42.7m

@ 0.7% Cu,

0.5g/t Au from

43.8m

in the CCZ. CD015 traversed a mining void between 52.7 –

56.4m

, and

assays returned

20.0m

@ 0.2% Cu, 0.1g/t Au, 0.7g/t Ag from

12.0m

, and an aggregate

46.0m

0.4% Cu, 0.6g/t Au, 1.2g/t Ag from

37.0m

, comprising

15.7m

@ 0.4% Cu, 0.1g/t Au, 0.7g/t Ag

from

37.0m

above the void, and

30.3m

@ 0.5% Cu, 0.9g/t Au, 1.5g/t Ag from

56.4m

. The lower

zone included higher grade intervals of

3.8m

@ 1.3% Cu, 0.4g/t Au, 1.7g/t Ag

from

43.0m

, and

6.1m

@ 0.4% Cu, 1.0g/t Au, 1.0g/t Ag

from

67.2m

4.5m

@ 1.0% Cu, 3.3g/t Au, 4.6g/t Ag

from

77.9m

. The hole terminated in mineralization due to the drilling conditions.

CD-016

was designed to twin BP's JUSPD280 , which historically returned

8.7m

@ 0.3% Cu, 0.4g/t

Au from

29.0m

11.7m

@ 1.3% Cu, 0.9g/t Au from

50.0m

, and the lower limit of sampling

terminating in disseminated copper mineralization at

75.2m

. CD-016 traversed a mining void

between 85.2 -

86.2m

but the hole terminated at

87.1m

. Assays returned results of

14.0m

@ 0.3%

Cu, 0.7g/t Ag from

20.0m

26.0m

@ 0.3% Cu, 0.3g/t Au, 1.4g/t Ag from

42.5m

________

Assigning mining void null grade and zero width.

Eastern Copper Zone Results

CD-017

was designed to twin BP's JUSPD265 that returned

23.2m

@ 0.8% Cu, 0.4g/t Au, 3.8g/t Ag

from

44.6m

(upper limit of sampling) being collared

4.6m

from the historical collar. CD-017 returned

46.0m

@ 0.8% Cu, 0.3g/t Au, 3.4g/t Ag from

29.0m

, including a higher grade interval of

9.6m

2.6% Cu, 0.9g/t Au, 12.2g/t Ag

, 0.1% Zn from

56.0m

CD-018

was designed to twin BP's JUSPD301 that returned

29.0m

@ 1.8% Cu, 1.0g/t Au, 8.8g/t Ag

from

36.0m

. CD-018 returned

14.2m

@ 0.3% Cu, 0.1g/t Au, 0.8g/t Ag from

(an interval

incompletely sampled in JUSPD301, and

12.4m

@ 0.3% Cu, 0.3g/t Au, 0.7g/t Ag from

33.0m

. CD-

018 encountered a void from 45.4 to

52.6m

and was terminated without replicating the lower results

of JUSPD301.

CD-019

was designed to infill the ECZ and its aggregated Cu-Au mineralisation returned

110.7m

0.6% CuEq of disseminated, stringer and breccia sulphide mineralization, comprised of

62.5m

0.5% Cu, 0.1g/t Au, 0.8g/t Ag from

12.0m

31.0m

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

84.0m

, and

17.2m

@ 0.8% Cu, 0.4g/t Au, 3.9g/t Ag from

130.0m

. CD-019 terminated ~72m SE of CD-013

and

results are consistent as a down dip extension to those results.

________

See Meridian News release June 15, 2021

Figure 1: Top: CD-001 to CD-040 locations, CD-014 to CD-019 reported today. Bottom: NW-SE

long section, pre-mining. (CNW Group/Meridian Mining S.E.)

Hole Id

Zone

Intercept

Grade

From

CuEq

(m)

(%)

(g/t)

(%)

(m)

CD-014

CCZ

26.4

0.4

0.3

0.2

0.4

0.0

20.0

20.5

0.8

0.6

0.3

0.4

0.0

54.0

Including

6.8

1.2

0.9

0.5

0.7

0.0

55.6

3.4

1.0

0.9

0.2

0.5

0.0

69.2

CD-015

CCZ

20.0

0.2

0.1

0.7

0.0

12.0

15.7

0.5

0.4

0.1

0.7

0.0

37.0

30.3

1.0

0.5

0.9

1.5

0.0

56.4

Including

3.8

1.5

1.3

0.4

1.7

0.0

43.0

6.1

1.0

0.4

1.0

0.0

67.2

4.5

3.0

1.0

3.3

4.6

0.1

0.0

77.9

CD-016

CCZ

14.0

0.3

0.0

0.7

0.0

20.0

26.0

0.5

0.3

1.4

0.0

42.5

CD-017

ECZ

46.0

1.0

0.8

0.3

3.4

0.0

29.0

Including

9.6

3.3

2.6

0.9

12.2

0.1

56.0

CD-018

ECZ

14.2

0.4

0.3

0.1

0.8

0.0

9.0

And

12.4

0.4

0.3

0.7

0.0

33.0

CD-019

ECZ

62.5

0.6

0.5

0.1

0.8

0.0

12.0

Including

2.5

3.1

2.9

0.4

4.9

0.0

20.7

2.2

3.5

2.9

1.0

4.3

0.1

0.0

53.5

And

31.0

0.4

0.2

0.3

0.1

0.0

84.0

And

17.2

1.2

0.8

0.4

3.9

0.1

0.0

130

Drill Details

Hole Id

Dip

Azimuth

EOH

CD-014

-59

78.5

CD-015

-89

110

86.7

CD-016

-90

000

87.1

CD-017

-89

029

91.4

CD-018

-89

272

52.9

CD-019

-55

165

174.1

Table 1 Highlighted assay results for CD-014 through to CD-019.

The mineralisation reported today is a consistent copper dominant sulphide assemblage, present as

disseminated, stringer, brecciated zones with local semi-massive sulphides. The confirmation of

broad intact mine sequence stratigraphy returning strong grades and presence of mineralization

extending beyond the limits of historically sampled core is a positive development. This will further

review of the database as further results emerge and possibly additional drilling targeted are areas

where drill density and/or sample coverage are sparse. It will be important that all mineralization is

represented, including copper-dominant mineralization of higher or lower grades that may been

peripheral to the focus of BP-Minerals/Rio Tinto's surface and underground drilling programs.

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 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

Notes

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

mineralized intervals represent half 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). Silver is repeated by method AAS12E. Samples are held in the company's secure

facilities until dispatch 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 controls samples, including blanks and gold and polymetallic standards

supplied by ITAK, supplementing laboratory quality control procedures.

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 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.

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 S.E.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/June2021/28/c9278.html

%SEDAR: 00040264E

For further information:

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

Email: [email protected]

CO: Meridian Mining S.E.

CNW 07:30e 28-JUN-21

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