Tillkännagivande • May 10

Meridian Mining Provides Update on Ongoing Drill Program At Cabaçal

Meridian Mining provided an update on the continuing successes of the ongoing drill program at Cabaçal. Drill results have confirmed that the near-surface VMS mineralization within Cabaçal's open pit, largely un-assayed by the historical drill program, hosts extensive copper-gold mineralization, and that the higher-grade copper-gold trends within the Cabaçal resource remain open. Additionally, drilling of the up-dip extensions of the Cabaçal Northwest Extension ("CNWE"), external to the resource model but within the open-pit, where it is currently classified as waste, have returned the grade copper VMS mineralization within the CNWE. The ongoing drill program will shortly be expanded to three rigs. Assay results are pending. In-Pit Angled Drilling Program Adding Metal Content: As the Cabaçal host geology is dipping at ~15o to the southwest, both angled and vertical drill holes have comparable widths of mineralization (~96% of stratigraphic true width). The Company objective was to evaluate on average how the two different drill orientations perform as it does not expect that individual angled holes will always be universally better than vertical holes. CD-228 overlapped historical holes JUSPD-358, JUSPD-383, JUSPD-368, JUSPD-386, JUSPD-388 and JUSPD-354. Taking the intersection-times-grade in AuEq as a measure of metal content, CD-228 returned a cumulative 81.0 gram-meters AuEq, compared to an average of 57.2 gram-meters AuEq in the historical holes overlapped (ranging from 28.8 to 84.0 gram-meters AuEq); a 41% superior metal content. CD-228 also returned the highest-grade gold interval of this fence of 62.5g/t Au (sample CBDS31263, 58.4- 58.7m), compared to the next in JUSPD-358 (48.0g/t Au, sample CAIF04773, 37.4- 37.9m). CD-230 overlapped the historical holes: JUSPD-388, JUSPD-354, JUSPD-351 and JUSPD-279. CD-230 returned a superior 53.4 gram-meters AuEq, compared to the JUSPD's series lower average of 31.6 gram-meters AuEq (ranging from 25.2 to 41.9 gram-meters AuEq). Despite CD-230 intersecting a mining void that was assigned zero grade, it hosted superior metal contents. Together, the average gram-meter content of 67.2 in CD-228 and CD-230, compared to an average of 51.3 in the vertical holes cutting the same area, being 31% higher in cumulative metal content. Up-dip holes CD-232 (35.5 gram-meters AuEq) and CD-234 (39.8 gram-meters AuEq) continue to extend the mineralized trend positively up-dip through the decline area, compared to the next closest vertical hole up-dip on this section (JUSPD-110 - 16.6 gram-meters AuEq). The Company is of the view that significant potential remains for additional gold mineralization hosted by the high-grade gold overprint within the Cabaçal resource area. The quantum of this upside will be directly tested by the increased density of angle drilling from the infill program. The Importance of Advancing The Angled Drilling Within Mine Areas: Cabaçal is two deposits in one, the bulk tonnage gently dipping copper-gold-silver VMS deposit that has been "overprinted" by a later event of sub-vertical high-grade gold structures. The 1980's "vertical" resource drilling by BP Minerals (~70% of the current Cabaçal resource database) targeted what they thought was a shallow dipping system, and under-represents the gold related to the steeper high-grade overprint event. Since 2021, Meridian's CNWE drill program has confirmed via its angled drilling that it has a significantly higher probability of hitting the high-grade gold overprint while still intercepting the VMS system. The Company recently completed a four hole test line through the mine area where the highest density of historical vertical drilling is located. Two key findings have arisen. Firstly, preliminary results indicate that despite the higher density of vertical drilling the Test program still generated on average a higher metal content per metre of drilling. Secondly, the Test's results within the near surface zone, the area largely not assayed in the 1980's, is mineralized and is considered open and prospective along the length of the resource model. These positive findings support the Company's belief that further drilling both within and beyond the resource envelop has potential to increase the Cabaçal deposit's metal budget. Continued results such as these have the potential to add value to both the early and later stages of the mine schedule outlined in the recent PEA. The Test line was collared over the Central Copper Zone. Four angled holes were drilled, from southwest to the northeast: CD-228, CD-230, CD-232 and CD-234. CD-232 and CD-234 terminated outside the area of the underground galleries in a more sparsely drilled position, in the area of the decline. Results included: CD-228: 61.3m @ 1.2g/t AuEq (0.9g/t Au, 0.2% Cu & 0.9g/t Ag) from 10.8m; Including: 11.2m @ 0.8g/t AuEq (0.5% Cu & 1.3g/t Ag) from 10.8m (shallow zone); 15.6m @ 3.0 AuEq (2.5g/t Au, 0.3% Cu & 1.4g/t Ag) from 51.5m; 6.1m @ 1.1g/t AuEq (0.2g/t Au, 0.6% Cu & 2.1g/t Ag) from 78.0m; CD-230: 56.7m @ 0.9g/t AuEq (0.3g/t Au, 0.5% Cu & 2.3g/t Ag) from 15.1m; Including: 18.5m @ 2.0g/t AuEq (0.7g/t Au, 0.9% Cu & 5.1g/t Ag) from 44.7m; CD-232: 10.2m @ 1.4g/t AuEq (0.4g/t Au, 0.7% Cu & 4.2g/t Ag) from 53.0m; 14.0m @ 1.3g/t AuEq (0.6g/t Au, 0.5% Cu & 2.7g/t Ag) from 69.0m; CD-234: 25.3m @ 1.1g/t AuEq (0.4g/t Au, 0.5% Cu & 2.8g/t Ag) from 37.0m; and 7.9m @ 1.0g/t AuEq (0.3g/t Au, 0.5% Cu & 3.3g/t Ag) from 67.0m. Cabaçal Northwest Extension's Waste Zones Converted To Mineralization: The infill program has been targeting the areas in the CNWE, largely where the resource remains inferred or unclassified (waste). The drilling efforts have been primarily concentrated on exploring the up-dip extension of the mine sequence, covering a distance of 1000 meters along the strike. The results are important as Cabaçal moves towards the next phase of resource upgrade, ensuring areas that are currently classified as waste, negatively influencing Cabaçal's PEA, have their true mineral content confirmed. CD-248's and CD-225's results highlight how the up-dip extensions within the CNWE, largely classified as waste through lack of drill coverage, are returning robust grades and widths of copper-gold mineralization. In particular, CD-248 returned the u VMS sample to date with 10.6% Cu. This confirms that copper rich zones extend out beyond the old workings. The Company believes these results will contribute positively to future advanced mining and economic studies. Results included: CD-248: 15.1m @ 2.5g/t AuEq (0.4g/t Au, 1.5% Cu, 1.8g/t Ag) from 44.7m; and CD-225: 12.7m@ 1.2g/t AuEq (0.4g/t Au, 0.6% Cu & 1.1g/t Ag) from 27.0m. Results continue to build from the earlier intersection of CD-193 (15.6m @ 1.6g/t AuEq (0.8% Cu, 0.4g/t Au, 1.3g/t Ag) from 42m.

VD-lön i procent	n/a
Anställning som VD	2.7yrs
Ägande av VD	1.0%
Ledningens genomsnittliga anställningstid	2.7yrs
Styrelsens genomsnittliga mandatperiod	5.2yrs

Namn	Position	Anställning	Kompensation	Ägarskap
Gilbert Clark	CEO & Non-Independent Director	2.7yrs	US$328.08k	0.97% $ 5.8m
Adrian McArthur	President & Non-Independent Director	2.7yrs	US$260.05k	0.27% $ 1.6m
David Halkyard	Senior VP of Project Finance & CFO	less than a year	inga uppgifter	inga uppgifter
James McLucas	Senior Vice President of Corporate Development	3.3yrs	inga uppgifter	0.14% $ 859.7k
Vitor De Souza Belo	Chief Development Officer	no data	US$113.25k	0.27% $ 1.6m
Martin McFarlane	Senior VP of Strategy & Projects	2.7yrs	US$113.46k	0.024% $ 145.1k
Erich Marques	Chief Geologist	2.8yrs	inga uppgifter	inga uppgifter
Catherine Apthorpe	Corporate Secretary	less than a year	inga uppgifter	inga uppgifter

Namn	Position	Anställning	Kompensation	Ägarskap
Gilbert Clark	CEO & Non-Independent Director	7.9yrs	US$328.08k	0.97% $ 5.8m
Adrian McArthur	President & Non-Independent Director	5.8yrs	US$260.05k	0.27% $ 1.6m
Donald McLeod	Independent Non-Executive Chairman of the Board	2.6yrs	US$32.49k	0.20% $ 1.2m
Neil Gregson	Independent Director	2.6yrs	US$23.32k	0.0026% $ 15.7k
Douglas Ford	Senior Independent Non-Executive Director	2.8yrs	US$21.96k	0.11% $ 653.2k
Susanne Sesselmann	Independent Director	4.6yrs	US$21.85k	0.030% $ 178.6k
Grant Osborne	Member of Advisory Board	5.2yrs	inga uppgifter	inga uppgifter
William Skinner	Independent Director	5.3yrs	US$21.85k	1.17% $ 7.0m
Mike Ounpuu	Member of Advisory Board	5.2yrs	inga uppgifter	inga uppgifter
Afonso de Figueiredo	Member of Advisory Board	5.2yrs	inga uppgifter	inga uppgifter
John Waghorn	Member of Advisory Board	5.2yrs	inga uppgifter	inga uppgifter
Gilson Teixeira	Member of Advisory Board	5.2yrs	inga uppgifter	inga uppgifter

Uppgifter	Senast uppdaterad (UTC-tid)
Analys av företag	2026/05/07 03:32
Aktiekurs vid dagens slut	2026/05/07 00:00
Intäkter	2025/12/31
Årlig intjäning	2025/12/31

Paket	Uppgifter	Tidsram	Exempel US-källa
Företagets finansiella ställning	10 år	Resultaträkning Kassaflödesanalys Balansräkning	SEC Form 10-K SEC Form 10-Q
Analytikernas konsensusuppskattningar	+3 år	Prognos för finansiella poster Analytikernas prismål	Rapporter från analytiker Blue Matrix
Marknadspriser	30 år	Aktiekurser Utdelningar, splittar och åtgärder	ICE Marknadsdata SEC Form S-1
Ägarskap	10 år	Största aktieägare Insiderhandel	SEC Formulär 4 SEC Formulär 13D
Förvaltning	10 år	Ledningsgrupp Styrelse och verkställande direktörer	SEC Form 10-K SEC Form DEF 14A
Viktiga utvecklingstendenser	10 år	Företagsmeddelanden	SEC Formulär 8-K

Analytiker	Institution
Stefan Ioannou	ATB Cormark
Michael Curran	Beacon Securities Limited
Andrew Mikitchook	BMO Capital Markets Equity Research

Meridian Mining Förvaltning

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Viktig information

Senaste uppdateringar av ledningen

Meridian Mining Plc, Annual General Meeting, Jun 23, 2026

Meridian Mining UK Societas, Annual General Meeting, Jun 24, 2025

Meridian Mining UK Societas, Annual General Meeting, Jun 04, 2024

Meridian Mining Uk Societas Appoints Mr. Bruce Mcleod as New Independent Director

Meridian Mining Uk Societas Announces Appointment of Neil Gregson as New Independent Director

Meridian Mining UK Societas Announces Management Changes

Recent updates

Meridian Mining Plc, Annual General Meeting, Jun 23, 2026

Meridian Mining Plc has filed a Follow-on Equity Offering in the amount of £2.5 million.

Meridian Mining Plc has completed a Follow-on Equity Offering in the amount of CAD 57.500782 million.

Meridian Mining Plc has filed a Follow-on Equity Offering in the amount of CAD 40.00007 million.

Meridian Updates Resources for Cabacal and Santa Helena Central Deposits

Meridian Mining UK Societas announced that it has received CAD 50 million in funding

Meridian Mining UK Societas announced that it expects to receive CAD 50 million in funding

Meridian Drills Copper Dominated Layers of Ore Grading 28.6m @ 3.5 g/t AuEq (2.6% CuEq) at Cabacal

Meridian Mining UK S Provides an Update on its Santa Helena Au-Cu-Ag & Zn Project

Meridian Mining UK Societas, Annual General Meeting, Jun 24, 2025

Meridian Mining UK Drills into Shallow High-Grade Cu-Au-Zn & Ag Massive to Semi-Massive Sulphides on the Open Western Limit of Santa Helena

Meridian Mining UK S Announces Positive Results of the Preliminary Feasibility Study

Meridian Mining UK Societas announced that it expects to receive CAD 10 million in funding

Meridian Mining Uk. Provides A Drilling Update for the Santa Helena Cu-Au-Ag & Zn Deposit ("Santa Helena")

Meridian Mining UK. S Drills Significant High-Grade VMS Gold Mineralization: 75.6m @ 4.6 g/t AuEq (3.0 g/t Au, 1.0% Cu, 30.2g/t Ag & 2.5% Zn) at Santa Helena

Meridian Mining UK S Announces Further Strong Results from Its Advanced Cabaçal Cu-Au-Ag Project

Meridian Mining UK Societas Reports High-Grade Assay Results & New Geophysical Targets at Santa Helena

Meridian Mining UK S Announces Further Strong Results from its Cabaçal Cu-Au-Ag Project

Meridian Mining UK. S Reports Multiple Zones of Mineralization Including 13.4m @ 4.6g/t AuEq At Cabaçal

Meridian Mining SE's 500th Drill Hole Delivers 14.3m @ 3.7 g/t AuEq from 49.0m At Santa Helena

Meridian Mining UK.S Provides an Update on its Drilling Activities at the Cabacal and Santa Helena Mines

Meridian Mining UK. S Reports 7Km Copper in Stream Anomaly At Its Jauru Project, Brazil

Meridian Mining UK Societas has completed a Follow-on Equity Offering in the amount of CAD 17.5 million.

Meridian Mining UK Societas, Annual General Meeting, Jun 04, 2024

Meridian Mining UK Societas has filed a Follow-on Equity Offering in the amount of CAD 15.001 million.

Meridian Mining UK Societas Reports on Cabaçal's Met Testing, Drill Results, and Permit Update

Meridian's PFS Drill Program Returns Multiple Wide, Shallow Mineralized Intercepts at Cabaçal

Meridian Mining UK. S Announces Strong Results from Its First Bore Hole Electromagnetic Surveys at its Santa Helena High-Grade Deposit

Meridian Mining UK S Commences Cabaçal's PFS & Advances Santa Helena Resource Delineation in Expansion of the Cabaçal Belt's Hub and Spoke Strategy

Meridian Mining UK S Defines Initial Exploration Target of 3.2 - 7.3 Mt at 3.0 - 3.2g/t AuEq at Santa Helena

Meridian Mining UK Reports Further Drill Results at Santa Helena & Cabacal Deposit

Meridian Mining Uk Societas Appoints Mr. Bruce Mcleod as New Independent Director

Meridian Mining Uk S Reports Gold and Base Metal Assays Up to 6.7% Cueq At Santa Helena

Meridian Mining Uk Societas Announces Appointment of Neil Gregson as New Independent Director

Meridian Mining UK S Confirms High-Grade Gold at Santa Helena

Meridian Mining UK Societas Reports Its First Drill Results in the Santa Helena Copper, Gold, Silver and Zn Mine

Meridian Mining UK Societas Announces Management Changes

Meridian Mining Appoints Erich Marques as Chief Geologist

Meridian Mining Uk Societas Announces Appointment of Mr. Douglas E. Ford as New Independent Director

Meridian Mining UK S Provides an Update on Its Programs at Cabacal

Meridian Mining UK S Announces Resignation of Gilbert Clark as Executive Chairman

Meridian Mining UK S Announces Board Changes

Meridian Mining UK Societas Provides an Update on Its Geophysical Program At Cabaçal, with A Mise-A-La-Masse Survey

Meridian Mining Provides Update on Ongoing Drill Program At Cabaçal

Meridian Mining UK Societas Provides an Update on the Uncovering of the Most Significant Copper Anomaly At the Cabaçal Project

Meridian Mining UK Societas Announces Management Changes

Meridian Mining UK Societas Reports Multiple Strong Drill Results from the Cabaçal Gold-Copper VMS Deposit

Meridian Mining Announces Board Changes and New Directors

Meridian Mining S.E.(TSXV:MNO) dropped from S&P/TSX Venture Composite Index

Meridian Mining S.E. Announces the Initiation of Field Work At Its Cabaçal Vms Copper- Gold Project

Meridian Mining SE Provides Update on Espigao Copper- Gold Exploration Program

Meridian Mining S.E. announced that it has received CAD 4.3153 million in funding

Meridian Mining S.E. announced that it expects to receive CAD 4.25 million in funding

Meridian Mining SE Announces Mineralised Extensions to Cabacal High Grade Zones: DDH CAIK-211 of 29.3m @ 6.04 % Cu, 3.10 g/t Au, 28.81 g/t Ag and 0.65% Zn to be First Focus for Meridian

Meridian Mining S.E. (TSXV:MNO) signed a binding purchase agreement to acquire Cabaçal Copper-Gold Project from Prometálica Mineração Ltda and IMS Engenharia Mineral Ltda. for $9.2 million.

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