Meridian Mining's Definitive Feasibility Study for Cabaçal Delivers After-Tax NPV5 of USD 2.09 Billion, 108% IRR, and 0.9 Year Payback

Meridian Mining plc (LSE: MNO) (TSX: MNO) (FSE: N2E0) (Tradegate: N2E0) (OTCQX: MRRDF) ("Meridian" or the "Company") is pleased to announce the results of the Definitive Feasibility Study (the "DFS" or the "Study") for the Cabaçal gold-copper-silver deposit in Mato Grosso, Brazil ("Cabaçal" or the "Project").

The DFS for Cabaçal was completed by Ausenco do Brasil Engenharia Ltda and Ausenco Engineering Canada ULC (together "Ausenco"), supported by GE21 Consultoria Mineral Ltd ("GE21"). The Study findings show that Cabaçal has industry-leading economics for a conventional open-pit mine, mill, and process plant. Cabaçal's ore produces a clean, high-grade Cu + Au-Ag concentrate that easily convert to high-grade blister copper in standard flash furnaces. The DFS supersedes Cabaçal's March 2025 Preliminary Feasibility Study ("PFS"). Key updates reported in the Study include stronger economics, an updated and larger Mineral Reserve statement, an optimised mine plan, and improved metallurgy.

All amounts are in United States Dollars unless otherwise stated. Meridian reports economics from Cabaçal's Definitive Feasibility Study; Cabaçal DFS After-Tax outputs Base Case Economics $3,570 Au / $5.03 Cu / $50.17 Ag Spot Price Economics * $4,394 Au / $6.53 Cu / $64.14 Ag. Net Present Value @ 5% USD 2.092 Billion USD 2.902 Billion. Internal Rate of Return 107.6.% 134.7%. Payback Period 0.9 Year 0.7 Year. NPV 5 /Capex 6.5x 9.0x. *Spot metal prices dated on London close, 10 September 2026.

Base Case Total LOM Revenue USD 5.4 billion and LOM After-Tax Free Cash flow of USD 2.9 billion; Life of Mine All-In-Sustaining-Costs ("AISC") of USD 1,056/oz AuEq. First production years 1-5: Average annual production of 183,526 AuEq; AISC of USD 715/oz AuEq; Average annual after-tax free cashflow of USD 413.8 million. Initial Capital Expenditure of USD 322M includes 10% contingency, tax credits and pre-investment for expansion to 4.5mtpa from year 4 onwards. Offsite civil works for mine commenced: Installation Licence for power line construction granted.

Mr. Gilbert Clark, CEO, comments: "What a tremendous result has been achieved. The DFS delivered a NPV 5 exceeding two billion dollars, an IRR over one hundred percent and a payback of less than one year. Our NPV 5 to Capex ratio of 6.5 times is a testament to the compelling economic potential of the Cabaçal project. Using spot prices these all get better again. Reading these numbers, it elevates Cabaçal to potentially be the next "near-term" VMS gold-copper mine developed globally. Importantly, the study is based on a conservatively engineered mine design, that can be financed and built. Congratulations to the team for delivering a tremendous result. I want to thank all our shareholders and stakeholders, without your support, we could not have delivered these remarkable results that unlock tremendous value. Meridian is already well on the path to building Cabaçal. Preconstruction investments are underway on multiple fronts with committed capital contracts of USD 15.9 million. Installation licence permitting has been lodged, and financing activities to construct Cabaçal are progressing. Developing the next near-term VMS Au-Cu-Ag mine of South America is a tremendous opportunity. Combine this with a highly prospective exploration portfolio and you have an incredibly compelling mining investment opportunity."