Meridian Mining UK S (TSX:MNO)(OTCQX:MRRDF) (Frankfurt/Tradegate:2MM) ('Meridian' or the 'Company'), is pleased to announce that its common shares are now trading on the OTCQX Best Market (the 'OTCQX') under the symbol 'MRRDF', having graduated from the OTCQB Venture Market.

The OTCQX is the highest tier of OTC Markets, which operates markets on which more than 12,000 U.S. and international securities trade. Trading on OTCQX enhances visibility and accessibility to U.S. investors. The Company's common shares continue to trade on the Toronto Stock Exchange under the symbol 'MNO'.

Mr. Gilbert Clark, Executive Chairman, comments: 'We are delighted with our graduation to the OTCQX Market and the greater opportunity this provides for institutional and retail investors to invest in Meridian's ongoing growth. The Company's advanced gold-copper project Cabacal provides an exciting opportunity for those investors looking for exposure in gold equities but also the opportunity to invest in a company with strong exposure to the electrification future via its clean copper. Cabacal is located in Brazil, the South American powerhouse where the Company benefits from the exposure to this expanding economy.'

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best-practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

About Meridian: Meridian Mining UK S is focused on: The development and exploration of the advanced stage Cabacal VMS goldcopper project; Regional scale exploration of the Cabacal VMS belt; Exploration in the Jauru & Araputanga Greenstone belts (the above all located in the State of Mato Grosso, Brazil) and Exploring the Espigao polymetallic project in the State of Rondonia, Brazil.

Cabacal is a gold-copper-silver rich VMS deposit with the potential to be a standalone mine within the 50km VMS belt. Cabacal's base and precious metal-rich mineralization is hosted by volcanogenic type, massive, semi-massive, stringer, and disseminated sulphides within deformed metavolcanic-sedimentary rocks. A later-stage sub-vertical gold overprint event has emplaced high-grade gold mineralization cross-cutting the dipping VMS layers.

The Cabacal Mineral Resource estimate consists of Indicated resources of 52.9 million tonnes at 0.6g/t gold, 0.3% copper and 1.4g/t silver and Inferred resources of 10.3 million tonnes at 0.7g/t gold, 0.2% copper & 1.1g/t silver (at a 0.3 g/t gold equivalent cut-off grade), including a higher-grade near-surface zone supporting a starter pit.

The Preliminary Economic Assessment technical report (the 'PEA 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). Cabacal has a low All-in-Sustaining-Cost of USD 671 per ounce gold equivalent for the first five years, driven by high metallurgical recovery, a low life-of-mine strip ratio of 2.1:1, and the low operating cost environment of Brazil.

Readers are encouraged to read the PEA Technical Report in its entirety. The PEA Technical Report may be found on the Company's website at www.meridianmining.co and under the Company's profile on SEDAR at www.sedar.com.

Contact:

Tel: +1 (778) 7156410 (PST)

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 address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading 'Risk Factors' under the heading 'Risk Factors' in Meridian's most recent Annual Information Form filed on www.sedar.com While these factors and assumptions are considered reasonable by Meridian, in light of management's experience and perception of current conditions and expected developments, Meridian can give no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Meridian disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise.

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