CABACAL HIGH GRADE ZONE

Meridian Mining is focused on becoming the next mid-tier Copper-Gold developer and producer with a focus on Brazil. The Company’s priority is on the Cabaçal project, an advanced stage VMS district scale Cu-Au project located in the state of Mato Grosso, discovered in 1983 by BP Minerals. The 36km Cabaçal VMS belt hosts a large historic resource, and two historic high-grade underground mines. The Cabaçal Central resource contains broad zones of coalescing Cu-Au mineralisation starting from shallow depths containing high-grade internals layers with top percentile metallurgical recoveries. Cabaçal Central’s mineralisation remains open beyond ~175 meters below surface and extends 3,700 meters along strike. Meridian’s on-going 10,000 metre drill program involves a combination of infill and twin drilling to statistically validate the BP Minerals / Rio Tinto database and expand along the belt leveraging the state-of-the-art Geophysics exploration. Cabaçal represents a low risk, pre-defined Copper-Gold investment opportunity, with the Cabaçal Central providing a standalone open pit resource development project to drive the camp scale expansion.

Cabaçal Tenure

Advanced permitting covering 768 km2

• Cabaçal – Mining Lease Application
• St Helena – Mining License
• Cabaçal Direct Extension – 3 x Exploration Licenses
• Cabaçal Southern extension – Exploration license
• Jaurú & Araputanga belts – 8 x Exploration license

Cabaçal Cu-Au Mine

• Polymetallic VMS system Cu-Au + Ag-Zn-Pb
• Defined multiple thick shallow dipping zones of Copper-Gold plus Silver-Zinc-Lead mineralization ideal for open-pit development
• Large Historic Resource

Cabaçal Database

• 600 DDH: 70,000 metres of drilling
• 17,300 assays
• 2,800km of aerial geophysics
• 190km of ground geophysics

Cabaçal Production

Historical production and excellent recoveries:

• Produced 869,279t @ 5g/t Au + 0.82% Cu over 4 years
• Historic recoveries -+90% Cu / 90% Au / +85% Ag
• Simple recovery process – Crush / Grind (110μm) / Float / Gravity

Cabaçal Program

• Initial drill program involves a combination of infill drilling and twin drilling to statistically validate the historic database
• Validation drilling program at Cabaçal Central:
  • 60-70 drillholes (30 twin) ~ 7,000 – 8,000 m
  • 2,000 – 3,000 m of Drilling and Trenching along the belt