Mr. Gilbert Clark reports

MERIDIAN ANNOUNCES ADMISSION TO TRADING ON THE LONDON STOCK EXCHANGE

Further to its announcement on April 27, 2026, Meridian Mining PLC's entire issued ordinary share capital consisting of 485,513,514 ordinary shares, will be admitted to the equity shares (commercial companies) category of the official list of the Financial Conduct Authority and to trading on the Main Market for listed securities of the London Stock Exchange today at 8 a.m. The ordinary shares will trade on both the London Stock Exchange and the Toronto Stock Exchange under the ticker symbol MNO.

Following admission, the share capital of the company will consist of 485,513,514 ordinary shares, each with one vote. The company does not hold any ordinary shares in treasury. Therefore, the total voting rights figure of 485,513,514 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the company under the FCA's disclosure guidance and transparency rules.

The company expects its free float and liquidity would make it eligible for inclusion in the FTSE U.K. Index Series, although inclusion remains subject to review by FTSE Russell. In particular, it is targeting FTSE All-Share inclusion at the next rebalancing and FTSE 250 inclusion within 12 months. FTSE index inclusion will trigger mandatory buying from passive capital.

Meridian is a resource development and exploration company focused on gold-copper projects in Brazil and is headquartered in London, United Kingdom. The primary focus of the company is the development of the advanced-stage Cabacal gold-copper project, located in the state of Mato Grosso, Brazil. Within the wider Cabacal belt, the company is also developing a hub and spoke strategy. The next stage of this hub and spoke strategy is resource definition at the company's high-grade Santa Helena Central gold-copper-silver and zinc-lead project, which is expected to be followed by regional-scale exploration across the Cabacal belt, exploration at the Aguapei gold prospect and exploration in the Jauru and Araputanga greenstone belts.

Meridian has completed a substantial exploration and development program at the Cabacal project since 20211, culminating in the reporting of the prefeasibility study (PFS) in March, 2025, outlining a robust, high-margin project for low upfront capital expenditure for the Cabacal project.

Meridian is well positioned on the ESCC segment of the LSE, with the following attributes:

• Attractive project economics: The PFS defines Cabacal as a high-margin, low-complexity project. It targets 141,000 ounces gold equivalent annually over a 10-year mine life with a 61.2-per-cent after-tax IRR (internal rate of return) and $984-million (U.S.) net present value from a preproduction capital cost at $248-million (U.S.) (assuming a metals price scenario of $2,119 (U.S.) per ounce of gold, $4.16 (U.S.) per pound of copper and $26.89 (U.S.) per ounce of silver), reflecting an attractive, capital-efficient development profile.
• Simple, executable development: Shallow mineralization, straightforward metallurgy and proximity to infrastructure allow for low-cost processing by standard crushing/grinding/gravity/flotation. Construction is estimated at two years, with a rapid 17-month capital payback. The project's NPV/capex (capital expenditure) ratio of around 4.0 times compares favourably with peers, highlighting its capital efficiency and technical simplicity.
• Advanced permitting: The Cabacal project has been granted its preliminary licence and is expected to submit its application for the installation licence in Q2 2026.
• Tier 1 infrastructure and location: Located in mining-friendly Brazil, the project leverages existing roads, hydroelectric power and water. Proximity to infrastructure minimizes upfront capex. Access to Brazil's mature mining ecosystem ensures competitive pricing for equipment and skilled labour, supporting a robust, low-cost operating structure and fast-tracked development.
• Significant exploration upside: Meridian controls 1,073 square kilometres across three mineralized belts. The 50-kilometre Cabacal belt displays VMS (volcanogenic massive sulphide) clustering potential. A hub and spoke strategy is planned, with aggressive exploration at Santa Helena and other regional targets running in parallel with project development to drive continuous resource growth.
• Premium metallurgical profile: Ore from the Cabacal project is highly amenable to coarse flotation and is projected to yield 92.3 per cent copper and 87.1 per cent gold recoveries, with the resulting clean, high-grade concentrate having low impurities. This high-quality product enhances financing optionality, through potential offtake-linked financing from major global trading houses.
• Proven management team: Management and the board present the balance of international and Brazilian experience needed to advance Cabacal, including mine finance, mine construction, permitting and ESG (environmental, social and governance). The Brazilian project team is well positioned to prepare delivery of Cabacal, focused on the development schedule and budget while maintaining low-cost, responsible operations.
• Fully financed to construction: Following the April, 2026, equity raise, Meridian has $104-million (U.S.) (77.4 million British pounds/$143.1-million (Canadian)) in cash. This fully funds the company through the definitive feasibility study (DFS), permitting and final investment decision in late 2026/early 2027. Subsequent construction financing is expected through a mix of equity and project debt facilities.

The company's vision is to create sustainable value for its investors and stakeholders by developing and exploring for high-quality mineral resource assets. The company is committed to being a responsible steward of the environment and building collaborative partnerships with communities, governments and all other stakeholders for mutual success.

The next step on this strategy is to complete the DFS and subsequently the construction of the Cabacal project. This will be the company's first and core production hub of the wider Cabacal VMS belt. The Santa Helena Central project is next in line for further drilling, development studies and near-mine exploration to test expansion potential. Regional geophysical and geochemical surveys continue across the wider 50-kilometre-long Cabacal greenstone belt, generating additional targets, and are planned to extend into the neighbouring Araputanga and Jauru greenstone belts.

Meridian also announces that Stifel Nicolaus Europe Ltd., Joh. Berenberg, Gossler & Co. KG, and Peel Hunt LLP have been appointed as the company's joint corporate brokers with immediate effect.

Scientific and technical information

Scientific and technical information in this announcement is derived from the PFS. The PFS, entitled "Cabacal Gold-Copper Project NI 43-101 Technical Report and Pre-feasibility Study" is dated March 31, 2025, and was prepared for the company by Tommaso Roberto Raponi, PEng, principal metallurgist with Ausenco Engineering Canada ULC; Scott Elfen, PE, global lead, geotechnical and civil services, with Ausenco Engineering Canada; John Anthony McCartney, CGeol, Ausenco Chile Ltda.; Porfirio Cabaleiro Rodriguez, engineer geologist, FAIG, of GE21 Consultoria Mineral; Leonardo Soares, BSc, Geo, MAIG, senior geological consultant of GE21 Consultoria Mineral; Norman Lotter, mineral processing engineer, PEng, of Flowsheets Metallurgical Consulting Inc.; and Juliano Felix de Lima, engineer geologist, MAIG, of GE21 Consultoria Mineral. Readers are encouraged to read the PFS in its entirety. The PFS may be found under the company's profile on SEDAR+ and on the company's website.

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