Meridian Announces Admission To Trading On The London Stock Exchange

May 01, 2026 2:01 AM EDT | Source: Meridian Mining Plc

THIS ANNOUNCEMENT IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION, OFFER OR SALE WOULD BE UNLAWFUL.

Neither this announcement, nor anything contained herein, shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors should not subscribe for or purchase any shares referred to in this announcement except solely on the basis of the information contained in the prospectus approved by the FCA (together with any supplementary prospectus, if relevant, the "Prospectus"), including the risk factors set out therein, published by Meridian Mining plc ("Meridian" or the "Company") in connection with the offer of ordinary shares in the Company ("Ordinary Shares") and the admission of the issued and to be issued Ordinary Shares to the Official List of the FCA in the equity shares (commercial companies) category and to trading on the Main Market for listed securities of London Stock Exchange plc (the "London Stock Exchange"). A copy of the Prospectus published by the Company is available for inspection on the Company's website at , subject to certain access restrictions.

London, United Kingdom--(Newsfile Corp. - May 1, 2026) - Meridian Mining plc (LSE: MNO) (TSX: MNO) (FSE: N2E0) (Tradegate: N2E0) (OTCQX: MRRDF) announces that, further to its announcement on 27 April 2026, its entire issued ordinary share capital consisting of 485,513,514 Ordinary Shares, will be admitted to the equity shares (commercial companies) category of the Official List of the FCA and to trading on the Main Market for listed securities of the London Stock Exchange (together, "Admission") today at 8:00 a.m. The Ordinary Shares will trade on both the London Stock Exchange and the Toronto Stock Exchange under the ticker symbol "MNO".

Following Admission, the share capital of the Company will consist of 485,513,514 Ordinary Shares, each with one vote. The Company does not hold any Ordinary Shares in treasury. Therefore, the total voting rights figure of 485,513,514 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Company expects its free float and liquidity would make it eligible for inclusion in the FTSE UK Index Series, although inclusion remains subject to review by FTSE Russell. In particular, it is targeting FTSE All-Share inclusion at the next rebalancing and FTSE 250 inclusion within 12 months. FTSE index inclusion will trigger mandatory buying from passive capital.

Meridian is a resource development and exploration company focused on gold-copper projects in Brazil and is headquartered in London, UK. The primary focus of the Company is the development of the advanced stage Cabaçal gold-copper project ("Cabaçal") located in the State of Mato Grosso, Brazil. Within the wider Cabaçal Belt, the Company is also developing a hub and spoke strategy. The next stage of this hub and spoke strategy is resource definition at the Company's high-grade Santa Helena Central Gold-Copper-Silver & Zinc-Lead project¹, which is expected to be followed by regional scale exploration across the Cabaçal Belt, exploration at the Aguapei gold prospect and exploration in the Jauru & Araputanga Greenstone belts.

Meridian has completed a substantial exploration and development programme at the Cabaçal Project since 2021¹, culminating in the reporting of the Pre-feasibility Study in March 2025² (the "PFS"), outlining a robust, high margin project for low upfront capital expenditure for the Cabaçal Project.

Meridian is well positioned on the ESCC segment of the LSE, with the following attributes:

Attractive project economics: The PFS defines Cabaçal as a high-margin, low-complexity project. It targets 141koz AuEq annually over a 10-year mine life with a 61.2% post-tax IRR and USD984M NPV5, from a pre-production capital cost at USD248M (assuming a metals price scenario of USD 2,119 per ounce of gold, USD 4.16 per pound of copper, and USD 26.89 per ounce of silver), reflecting an attractive, capital-efficient development profile.³ Simple, executable development: Shallow mineralisation; straightforward metallurgy; and proximity to infrastructure allow for low-cost processing via standard crushing-grinding-gravity-flotation. Construction is estimated at two years, with a rapid 17-month capital payback. The project's NPV/Capex ratio of c.4.0x compares favourably to peers, highlighting its capital efficiency and technical simplicity. Advanced Permitting: The Cabaçal project has been granted its Preliminary License⁴ and is expected to submit its application for the Installation License in Q2 2026. Tier-1 infrastructure & location: Located in mining-friendly Brazil, the project leverages existing roads, hydroelectric power, and water. Proximity to infrastructure minimizes upfront Capex. Access to Brazil's mature mining ecosystem ensures competitive pricing for equipment and skilled labor, supporting a robust, low-cost operating structure and fast-tracked development. Significant exploration upside: Meridian controls 1,073km² across three mineralized belts. The 50km Cabaçal Belt displays VMS clustering potential. A hub and spoke strategy is planned, with aggressive exploration at Santa Helena and other regional targets⁵ running in parallel with project development to drive continuous resource growth. Premium metallurgical profile: Ore from the Cabaçal project is highly amenable to coarse flotation, and is projected to yield 92.3% copper and 87.1% gold recoveries, with the resulting clean, high-grade concentrate having low impurities. This high-quality product enhances financing optionality, via potential offtake-linked funding from major global trading houses. Proven management team: Management and the Board present the balance of international and Brazilian experience needed to advance Cabaçal including mine finance, mine construction, permitting, and ESG. The Brazilian project team is well-positioned to prepare delivery of Cabaçal, focused on the development schedule and budget while maintaining low-cost, responsible operations. Fully funded to construction: Following the April 2026 equity raise, Meridian has USD104.0m (£77.4m / CAD143.1m) in cash. This fully funds the Company through the Definitive Feasibility Study ("the DFS")⁶, permitting, and Final Investment Decision in late 2026 / early 2027. Subsequent construction funding is expected via a mix of equity and project debt facilities.

The Company's vision is to create sustainable value for its investors and stakeholders by developing and exploring for high quality mineral resource assets. The Company is committed to being a responsible steward of the environment and building collaborative partnerships with communities, governments, and all other stakeholders for mutual success.

The next step on this strategy is to complete the DFS and subsequently the construction of the Cabaçal Project. This will be the Company's first and core production hub of the wider Cabaçal VMS Belt. The Santa Helena Central project is next in line for further drilling, development studies, and near-mine exploration to test expansion potential. Regional geophysical and geochemical surveys continue across the wider 50 km-long Cabaçal Greenstone Belt, generating additional targets, and are planned to extend into the neighbouring Araputanga and Jauru Greenstone Belts.

Meridian also announces that Stifel Nicolaus Europe Limited ("Stifel"), Joh. Berenberg, Gossler & Co. KG ("Berenberg") and Peel Hunt LLP ("Peel Hunt") have been appointed as the Company's joint corporate brokers with immediate effect.

On behalf of the Board of Directors of Meridian Mining plc

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