Mr. Gilbert Clark reports

MERIDIAN ANNOUNCES FILING OF THE NI 43-101 DEFINITIVE FEASIBILITY STUDY TECHNICAL REPORT FOR THE CABACAL GOLD-COPPER-SILVER DEPOSIT IN BRAZIL

Meridian Mining PLC has filed its independent definitive feasibility study technical report for its advanced Cabacal gold-copper-silver project located in Mato Grosso, Brazil, with an effective date of Sept. 15, 2026, in support of the company's news release dated Sept. 22, 2026. There are no material differences in the DFS technical report from the information disclosed in the news release.

The definitive feasibility study technical report dated Oct. 28, 2026, entitled "Cabacal Gold-Copper Project NI 43-101 Technical Report & Definitive Feasibility Study, Mato Grosso, Brazil," outlines a base-case after-tax net present value (discounted at 5 per cent) of $2.1-billion (U.S.) and an internal rate of return of 108 per cent from a preproduction capital cost of $322-million (U.S.), leading to capital repayment in 0.9 years (assuming metals price scenario of $3,570 (U.S.) per ounce of gold, $5.03 (U.S.) per pound of copper and $50.17 (U.S.) per ounce of silver, net of tax credits). Cabacal has a low all-in sustaining cost of $1,056 (U.S.) per ounce of gold equivalent and production profile of average annual 183,526 ounces of gold equivalent for mining over years 1 to 5, driven by high metallurgical recovery, a low life-of-mine strip ratio of 1.4:1 and the low operating cost environment of Brazil.

The Cabacal mineral reserve estimate consists of proven and probable reserves of 56.04 million tonnes at 0.61 gram per tonne gold, 0.35 per cent copper and 1.33 grams per tonne silver (at a 0.138-gram-per-tonne-gold-equivalent cut-off grade).

The DFS technical report was prepared for the company by Tommaso Roberto Raponi, PEng, principal metallurgist with Ausenco Engineering Canada ULC; Scott Elfen, PE and PEng, global lead (geotechnical and civil services) with Ausenco Engineering Canada; Porfirio Cabaleiro Rodriguez (FAIG), senior mining engineer with GE21 Consultoria Mineral; Leonardo Soares, BSc (Geo), MAIG, senior geologist with GE21 Consultoria Mineral; Norman Lotter, PEng, PrEng, CEng, president and consulting engineer with Flowsheets Metallurgical Consulting Inc.

Readers are encouraged to read the DFS technical report in its entirety, including all qualifications, assumptions, exclusions and risks that relate to the mineral resource, mineral reserves and life-of-mine plan. The DFS technical report is intended to be read as a whole, and sections should not be read or relied upon out of context.

The DFS will be filed on the company's website and on SEDAR+ in accordance with National Instrument 43-101.

Qualified person

Erich Marques, BSc, FAIG, chief geologist of Meridian Mining and a non-independent qualified person as defined by NI 43-101, has reviewed the DFS study on behalf of the company and has approved the technical disclosure contained in this news release.

About Meridian Mining PLC

Meridian Mining is focused on:

• The development and exploration of the advanced-stage Cabacal VMS gold-copper project;
• Expanding the initial resource inventory at the Santa Helena area through extension of Santa Helena Central and new discoveries;
• Regional-scale exploration of the Cabacal VMS (volcanogenic massive sulphide) belt to expand the Cabacal hub strategy;
• Exploration in the Jauru and Araputanga greenstone belts (the above all located in the state of Mato Grosso, Brazil).

Readers are encouraged to read the DFS technical report in its entirety, including all qualifications, assumptions, exclusions and risks that relate to the mineral resource, mineral reserve and life-of-mine plan. The DFS technical report is intended to be read as a whole, and sections should not be read or relied upon out of context.

The DFS has been filed on the company's website and on SEDAR+ in accordance with NI 43-101.

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