Meridian Mining UK S reported further strong near-surface results at the Santa Helena copper, gold, silver and zinc mine ("Santa Helena"), with CD-321 returning a high-grade gold zone grading 3.6m @ 1.3% Cu, 4.2g/t Au, 35.3g/t Ag & 0.5% Zn from 10.0m within a broader interval of 23.1m @ 0.5% Cu, 0.9g/t Au, 13.9g/t Ag and 0.4% Zn from 6.1m. Meridian to extend Santa Helena drill program targeting poorly tested upside; Result emphasises the presence of high-grade mineralization easily accessible to surface open pit development; and Cabacal's PEA and resource upgrades progressing well. Santa Helena's near mine exploration upside has also been extended out to at least 1.6km beyond the historical resource limits, with the geophysical anomaly now shown to coincide with an eastern copper-gold anomaly, enhancing the potential for further discovery.

Santa Helena is a Cu-Au-Ag & Zn deposit located ~9km to the southeast of the Cabacal Mine area. The Company commenced initial drilling in August 2023 as part of a verification program, to validate the historical data in line with 43-101 requirements, and to initiate scout drilling for resource extensions defined by geophysics. The Company considers that like the Cabacal mine area, the gold content of the Santa Helena VMS system has been upgraded by an overprinting event.

With the new results from CD-321, the Company continues to add data that can be integrated into a resource update, expanding the footprint of near-surface high-grade mineralization. Santa Helena Drill Program: Santa Helena is a Cu- Au-Ag & Zn deposits located approximately 9km to the southeast of the cabacal Mine area. The company commenced initial drilling in August 20 23 as part of a verification program.

to validate the historical data inline with 43-101 requirements. The Company considers that like The Cabacal mine area, The gold content of the Santa HelenaVMS system has been upgraded by a overprinting event. With The new results from CD-321.

CD-321, the company continues to add data that can been integrated into a resource update, expand the footprint of near- surface high-grade mineralization. The Company is also reporting results from CA_TR_034, an infill trench in the Cabacal Northwest extension and infill drill results. One of the Company's drill contractors, Sonda Service, is also adapting its equipment to be able to drill low-angle holes (down to 20deg dip), and a number of additional holes will be test drilled at Cabacal in areas where topography places constraints for conventional drill rigs.

The Preliminary Economic Assessment technical report dated March 30, 2023, entitled: "Cabacal Gold-Copper Project NI 43-101 Technical Report and Preliminary Economic Assessment, Mato Grosso, Brazil" outlines a base case after-tax NPV5 of USD 573 million and 58.4% IRR from a pre-production capital cost of USD 180 million, leading to capital repayment in 10.6 months (assuming metals price scenario of USD 1,650 per ounces of gold, USD 3.59 per pound of copper, and USD 21.35 per ounce of silver).