Meridian Appoints Ausenco Brazil as Lead Engineer for the Cabaçal Definitive Feasibility Study and Signs LOI with Aurubis AG

Highlights:

• Meridian has engaged Ausenco do Brasil Engenharia Ltda. (Ausenco) to undertake a definitive feasibility study ("DFS") of the Cabaçal Au-Cu project;

  • DFS targeted to be completed prior to the end of 1H 2026.

Meridian Signs Corporate Agreement with Aurubis AG, Europe's largest smelter group;

Meridian and Aurubis to establish technical exchange to optimize Cabaçal's Cu + Au-Ag sulphide concentrates:

• Optimize Cabaçal's Cu +Au-Ag sulphide concentrates for flash (copper) smelter performance;

Establishment of corporate framework to advance the export of Cabaçal's future Cu-Au-Ag concentrates to Europe; and

• To advance Meridian's compliance with the EU Supply Chain Due Diligence Act and the OECD Due Diligence.

LONDON, UK / ACCESS Newswire / May 8, 2025 / Meridian Mining UK S (TSX:MNO)(Frankfurt/Tradegate:2MM)(OTCQX:MRRDF) ("Meridian" or the "Company") is pleased to announce that it has appointed Ausenco do Brasil Engenharia Ltda ("Ausenco") to undertake the Definitive Feasibility Study ("the DFS") for its advanced Cabaçal Au-Cu project ("Cabaçal"), located in Mato Grosso, Brazil. Ausenco is an internationally respected engineering firm with extensive global and Brazilian experience in conducting feasibility studies on projects similar to the scale of Cabaçal. On completion of the DFS, Meridian will be positioned to make a final investment decision on the Cabaçal build in 2026.

Mr. Gilbert Clark, CEO, comments: "Having completed the PEA and PFS on Cabaçal, the later delivering nearly a billion dollars in NPV for Cabaçal, I'm delighted to continue this long-term relationship with Ausenco by having them perform Cabaçal's DFS. With Ausenco's "A" team on the DFS who are already familiar with Cabaçal means that we can kick off the study immediately, progress it rapidly, and after its potential successful reporting, focus on the build.

I'm very pleased to have established an important corporate relationship with Aurubis that will greatly help to grow the Company from being a resource developer to a mining and exporting company. With the Agreement, we can now start preparing the Company to be compliant with the import regulations of Germany and the European Union, look to access strategic European equity and project financing facilities while maintaining our schedule to be Brazil's next near-term copper-gold-silver concentrate exporter".