Meridian Provides Corporate and Cabaçal Update

Core Viewpoint - Meridian Mining UK S has announced key leadership changes and significant milestones in the development of the Cabaçal project, aiming for a decision to mine by 2027 [1][2][4]. Leadership Changes - Mr. David Halkyard has been appointed as Interim Chief Financial Officer (CFO) following the resignation of Ms. Soraia Morais, who served since 2020 [1][4]. - Mr. Vitor Hugo de Sousa Belo has transitioned to Chief Development Officer (CDO), overseeing the Cabaçal project development [1][5][6]. Cabaçal Project Progress - The Definitive Feasibility Study (DFS) drill program for the Cabaçal project has been completed, involving 591 holes drilled over 66,487 meters [7][8]. - The title transfer for the Cabaçal and Santa Helena projects to the Brazilian subsidiary, Rio Cabaçal Mineração Ltda, has been finalized, marking a significant milestone [2][9]. Financial and Technical Highlights - The Cabaçal project has a projected after-tax NPV5 of USD 984 million and an IRR of 61.2%, with a pre-production capital cost of USD 248 million [12]. - The project is expected to have a low All-in Sustaining Cost of USD 742 per ounce of gold equivalent, with a production profile of 141,000 ounces of gold equivalent over its life [12]. Mineral Reserve Estimates - The Cabaçal Mineral Reserve consists of Proven and Probable reserves of 41.7 million tonnes at grades of 0.63g/t gold, 0.44% copper, and 1.64g/t silver [13].