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    MNO   NL0012084479

MERIDIAN MINING UK SOCIETAS

(MNO)
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Meridian Mining UK Societas : Reports Further Significant High Grade Gold along at Cabacal Northwest Extension

09/14/2021 | 11:11am EDT

LONDON - Meridian Mining UK S (TSXV: MNO) (Frankfurt: 2MM) (OTCQB: MRRDF) ('Meridian' or the 'Company') is pleased to report further significant high grade gold mineralization from the Cabacal Northwest Extension ('CNWE') as part of its maiden ongoing drill-program.

The CNWE is part of the Cabacal Copper-Gold Project ('Cabacal') in Mato Grosso, Brazil

Within the CNWE, 410m to the Southeast of CD-049[1] (which intercepted 26.7m @ 21.5g/t Au), CD-054 has drilled a high-grade gold structure that returned 16.5m @ 7.2 g/t Au from 45.1m, part of a broader intersection of 54.4m @ 2.6g/t Au, 0.4% Cu, 1.7g/t Ag from 44.6m. CD-054 is an infill angled hole within the CNWE, located 200m from the Northwest limits of the Cabacal Mine. Further drill results for the CNWE are pending and an expansion to the angled drill program along and beyond the CNWE is underway.

In addition, the Company today reports results from a preliminary inspection of CD-065, a 550m Southeast step-out from the Cabacal Mine. A sulphide assemblage was intersected from 94.0m to 134.0m that included visual gold; XRF analysis[2] confirms that a prospective sulphide assemblage is present.

Contact:

Dr. Adrian McArthur

Tel: +1 (778) 715-6410

Email: info@meridianmining.net.br

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 are conducted by FAA505 and FAA525 (fire assay of a 50g charge), and base metal analysis by methods ICP40B and ICP40B_S (four acid digest with ICP-OES finish). 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 control samples, including blanks and gold and polymetallic standards supplied by ITAK and OREAS, supplementing laboratory quality control procedures. True widths are interpreted to be 80% of intersection widths.

Samples for historical Cabacal drill programs were analysed by for gold by 50g Fire Assay with AAS finish, copper three-acid-digest and AA finish, and silver by Aqua Regia by AA finish at BP Mineral's laboratory at Bonsucesso (Rio de Janeiro, Brazil), Samples were prepared at Caxias and the mine site itself. Half-core was dried, crushed to a quarter inch size through a jaw crusher, pulverised to 150 mesh in a ring mill, passed through a Jones Splitter to produce a 100-200g split, with one sample archived for reference and the other dispatched for analysis. BP Mineral's quality control program included duplicate analyses, and periodic checks using independent laboratories.

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.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 - - -
Net income 2021 -20,0 M -15,8 M -15,8 M
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 105 M 82,5 M 82,9 M
Capi. / Sales 2021 -
Capi. / Sales 2022 -
Nbr of Employees -
Free-Float 71,1%
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Number of Analysts 1
Last Close Price 0,79 CAD
Average target price 1,30 CAD
Spread / Average Target 64,6%
Managers and Directors
Adrian McArthur President, Chief Executive Officer & Director
Soraia Morais Chief Financial Officer
Gilbert Percy Clark Executive Chairman
Charles Louis Riopel Lead Independent Director
John Skinner Independent Director
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