Meridian Expands Upside Potential at Santa Helena With the Discovery of a Second Layer of Gold-Silver and Zinc-Lead VMS Mineralisation

Executive Summary

• Meridian Mining plc reports a significant new VMS mineralization discovery at its Santa Helena project, with drill hole CD-869 intercepting a second Au-Ag & Zn-Pb system located below and east of the Santa Helena Central resource.
• The CD-869 intersection marks the first appearance of visible gold in the Santa Helena area and is interpreted as the down-dip extension of the Santa Helena North chargeability anomaly, with mineralization remaining open for further exploration.
• Additional drill results from the Santa Helena Central program were released, and the company has commenced field evaluation and secured environmental permits for a new Cu-Au exploration program at the Espigão target.

Key Details

• CD-869 (Santa Helena North/Álamo): 7.2m @ 1.4g/t Au, 0.1% Cu, 24.3g/t Ag, 2.3% Zn, 0.9% Pb from 177.6m; including 6.2m @ 1.6g/t Au, 0.1% Cu, 26.6g/t Ag, 2.6% Zn, 1.0% Pb from 178.1m. First visible gold observed in Santa Helena mineralization.
• CD-859: 0.8m @ 5.0g/t Au, 3.2g/t Ag, 1.0% Zn, 0.3% Pb from 63.2m.
• CD-857 & CD-867: Returned multiple lower-grade intersections; CD-857 tested ~80m down-dip from CD-869, and CD-867 was drilled ~117m obliquely up-dip.
• Santa Helena Central - CD-866: 15.4m @ 0.7g/t Au, 0.6% Cu, 29.1g/t Ag, 5.1% Zn from 31.3m; including 8.6m @ 0.8g/t Au, 1.0% Cu, 42.7g/t Ag, 8.6% Zn from 38.1m.
• Santa Helena Central - CD-861: 12.0m @ 0.8g/t Au, 0.6% Cu, 36.7g/t Ag, 4.9% Zn from 29.7m; including 3.4m @ 1.0g/t Au, 1.3% Cu, 68.7g/t Ag, 7.7% Zn from 30.1m.
• Santa Helena Central - CD-862: 11.1m @ 0.2g/t Au, 0.2% Cu, 15.2g/t Ag, 2.1% Zn from 48.0m; and 13.6m @ 0.3g/t Au, 0.2% Cu, 16.2g/t Ag, 2.3% Zn from 61.9m.
• Espigão Project: Field evaluation for Cu-Au targets has commenced; environmental permission (SEDAM) obtained for the first phase of reconnaissance drilling in the coming months.
• Geological & Assay Context: The CD-869 sulphide zone shows elevated gold/silver grades, with peak grades of 4.8% Zn, 3.8g/t Au, 41.5g/t Ag, and 1.6% Pb. The zone is positioned within/above a sodium-depleted hydrothermal leaching zone with chloritic alteration in the footwall. The metal distribution suggests a more distal, cooler domain of a broader VMS system.

Notable Quotes

• Gilbert Clark, CEO: "CD-869's discovery of a second layer of strong precious and base metal mineralisation at Santa Helena presents an exciting opportunity for Meridian's shareholders. The potential of further resource growth is enhanced as is the future installation of a second hub along the Cabaçal Belt. CD-869 and the recently reported CD-852 at Álamo both intercepted gold-rich mineralisation. CD-869's visible gold is an attribute rarely seen at Santa Helena, and this may signal an additional structural gold overprint or gold-enriched VMS mineralisation like that seen at Cabaçal. Following the London IPO, our well-funded exploration programmes are delivering, with a high frequency of exceptionally encouraging results. This reflects the high prospectivity of what we see as South America's most prospective VMS belt."