LONDON - 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 to the Cabacal Purchase Agreement 1 that increases the available cash on hand to be invested in its ongoing resource development and exploration activities at its camp scale Cabacal Copper-Gold VMS Project ('Cabacal') in Mato Grosso, Brazil.

The Amendment benefits all Meridian shareholders including those holding the rights to the Vendor Shares of the CPA, whereby the 3rd 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 Cabacal project in 2022 and into 2023.

Highlights of today's update

Meridian positively amends the Cabacal Purchase Agreement freeing up USD1.75M of working capital; for near-term exploration

Capital reserved for 3rd Vendor consideration can now be made available for Meridians ongoing copper-gold development program at Cabacal.

The Vendors have agreed to the Company's initiative to free up the bulk of the capital reserves allocated for the 3rd Vendor payment notionally anticipated for allocation during the 4th Quarter 2022 until August 2023. The Company is very grateful for the agreement by the Vendors to the Amendment.

Contact:

Dr. Adrian McArthur

Tel: +1 (778) 715-6410

Email: info@meridianmining.net.br

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 Cabacal VMS Copper-Gold project, exploration in the Jauru & Araputanga Greenstone belts located in the state of Mato Grosso; exploring the Espigao polymetallic project and the Mirante da Serra manganese project in the State of Rondonia 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.

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