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HIGHLIGHTS:
- Meridian Mining’s Cabaçal Au-Cu-Ag Challenge’s Preliminary Licence (“PL”) authorized by CONSEMA Council Assembly:
- Mato Grosso’s CONSEMA Council Assembly unanimously approves Cabaçal’s PL
- Long run socio-economic advantages of Mato Grosso and Brazil’s subsequent mine, strikes nearer to being shovel-ready with PL’s approval by CONSEMA.
- Cabaçal’s technical deserves, environmental feasibility and social acceptance affirmed.
- PL strikes to formal issuance by way of the State of Mato Grosso’s official gazette.
- Meridian Mining completes one other strategic step ahead in direction of constructing its first mine at Cabaçal:
- Cabaçal’s Definitive Feasibility Examine advances in direction of publication in 2026; and
- Cabaçal’s Set up License utility is advancing in direction of submission.
Meridian Mining UK S (TSX: MNO,OTC:MRRDF) (FSE: N2E) (OTCQX: MRRDF) (“Meridian” or the “Firm”) is happy to announce that CONSEMA, the Environmental Council for the State of Mato Grosso, met in Cuiaba on October 29, 2025, and unanimously authorized the Cabaçal Au-Cu-Ag venture’s (“Cabaçal”) Preliminary Licence (“PL”). CONSEMA’s determination, after reviewing SEMA’s (Mato Grosso State Environmental Secretariat) constructive technical opinion, which was based mostly on the Environmental Impression Evaluation (“EIA”) & Relatório de Impacto Ambiental (“RIMA”) of Cabaçal.
The formal issuance of the Preliminary Licence is now in course of with SEMA, who publish the formal approval within the State of Mato Grosso gazette: www.iomat.mt.gov.br. Meridian shouldn’t be conscious of any dangers related to the formal gazetting of the PL.
Beforehand the staff of Meridian’s native subsidiary, Rio Cabaçal Mineração Ltda, together with the representatives of SETE, GE21 and Ausenco had offered to CONSEMA. Collectively, they communicated Cabaçal’s technical facets, environmental and social impacts, and display the long-term socio-economic advantages of the proposed mine to a constructive and supportive response. The CONSEMA council, supported by the constructive technical opinion of SEMA, unanimously voted in favour of the issuance of the PL.
The Preliminary License (PL) is the primary and most vital of the three allowing levels wanted for the event of Cabaçal. The subsequent step is the Set up License granting. This is able to permit for the graduation of Cabaçal’s beneficiation plant & buildings development actions and is the set off for a Last Funding Choice. Lastly, the Working License is granted after the mine’s development is accomplished.
Certified Particular person Assertion
Mr. Erich Marques, B.Sc., FAIG, Chief Geologist of Meridian Mining and a Certified Particular person as outlined by Nationwide Instrument 43-101, has reviewed, verified and authorized the technical info on this information launch.
About Meridian
Meridian Mining is targeted on:
- The event and exploration of the superior stage Cabaçal VMS gold‐copper venture;
- The preliminary useful resource definition on the second higher-grade VMS asset at Santa Helena as the primary stage of the Cabaçal Hub improvement technique;
- Regional scale exploration of the Cabaçal VMS belt to develop the Cabaçal Hub technique; and
- Exploration within the Jaurú & Araputanga Greenstone belts (the above all positioned within the State of Mato Grosso, Brazil).
The Pre-feasibility Examine technical report (the “PFS Technical Report”) dated March 31, 2025, entitled: “Cabaçal Gold-Copper Challenge NI 43-101 Technical Report and Pre-feasibility Examine” outlines a base case after-tax NPV5 of USD 984 million and 61.2% IRR from a pre-production capital value of USD 248 million, resulting in capital compensation in 17 months (assuming metals worth situation of USD 2,119 per ounces of gold, USD 4.16 per pound of copper, and USD 26.89 per ounce of silver). Cabaçal has a low All-in-Sustaining-Value of USD 742 per ounce gold equal & manufacturing profile of 141,000-ounce gold equal lifetime of mine, pushed by excessive metallurgical restoration, a low life-of-mine strip ratio of two.3:1, and the low working value atmosphere of Brazil.
The Cabaçal Mineral Reserve estimate consists of Confirmed and Possible reserves of 41.7 million tonnes at 0.63g/t gold, 0.44% copper and 1.64g/t silver (at a 0.25 g/t gold equal cut-off grade).
Readers are inspired to learn the PFS Technical Report in its entirety. The PFS Technical Report could also be discovered beneath the Firm’s profile on SEDAR+ at www.sedarplus.ca and on the Firm’s web site at www.meridianmining.co.
The PFS Technical Report was ready for the Firm by Tommaso Roberto Raponi (P. Eng), Principal Metallurgist with Ausenco Engineering Canada ULC; Scott Elfen (P. E.), World Lead Geotechnical and Civil Providers with Ausenco Engineering Canada ULC; John Anthony McCartney, C.Geol., Ausenco Chile Ltda.; Porfirio Cabaleiro Rodriguez (Engineer Geologist FAIG), of GE21 Consultoria Mineral; Leonardo Soares (PGeo, MAIG), Senior Geological Advisor of GE21 Consultoria Mineral; Norman Lotter (Mineral Processing Engineer; P.Eng.), of Flowsheets Metallurgical Consulting Inc.; and, Juliano Felix de Lima (Engineer Geologist MAIG), of GE21 Consultoria Mineral.
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Additional info will be discovered at: www.meridianmining.co
Cautionary Assertion on Ahead-Trying Data
Some statements on this information launch include forward-looking info or forward-looking statements for the needs of relevant securities legal guidelines. These statements handle future occasions and situations and so contain inherent dangers and uncertainties, as disclosed beneath the heading “Danger Elements” in Meridian’s most up-to-date Annual Data Kind filed on www.sedarplus.ca. Whereas these elements and assumptions are thought of cheap by Meridian, in mild of administration’s expertise and notion of present situations and anticipated developments, Meridian can provide no assurance that such expectations will show to be appropriate. Any forward-looking assertion speaks solely as of the date on which it’s made and, besides as could also be required by relevant securities legal guidelines, Meridian disclaims any intent or obligation to replace any forward-looking assertion, whether or not on account of new info, future occasions, or outcomes or in any other case.
To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/272493
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