Meridian Mining Announces Board Changes

LONDON, May 28, 2018 /CNW/ - Meridian Mining SE (TSX V: MNO) ("Meridian" or the "Company") today announces certain corporate changes. The Company has been in recent discussions with Sentient Equity Partners, acting on behalf of Sentient Executive GP IV Limited (together "Sentient"), about potential financial support. The Company is pleased to report that Sentient has indicated that it is prepared to make available interim financing of up to US$2 million for working capital requirements, subject to mutual agreement on conditions, structure, and finalisation of necessary documentation. 

However, in the course of these discussions, it became apparent that Sentient considered it necessary to reconstitute the board of directors of the Company and that some of the incumbent directors would not be supported for re-election at the Company's upcoming annual general meeting of shareholders. Accordingly, effective May 24, 2018 Barry Bolitho and Doug Willock have resigned as directors of the Company. The Company would like to thank Messrs. Bolitho and Willock for their valuable contribution to the Company and wish them all the best in their future ventures.

The Company is also pleased to announce the appointment of John Sabine and Charles Riopel to the board of directors to fill the vacancies created by the resignations of Messrs. Bolitho and Willock. 

Mr. Sabine has over 40 years of legal experience advising on corporate and securities matters, financings, reorganizations, mergers and acquisitions. He represented clients in a number of industries and has focused on mining and natural resources. With transaction experience in the Americas, Africa, Europe and Asia, John is widely recognized for advising clients on complex international projects. In addition to advising public companies and investment banks, John has served on the boards of directors of a number of public and private companies in a variety of businesses. He is currently Non-Executive Chair of North American Nickel Inc., and a director of Seabridge Gold Inc., Falco Resources Ltd., and Barkerville Gold Mines Ltd.  He holds Bachelor of Arts and Law degrees from Western University.  

Mr. Riopel is an accomplished senior-level executive with 20 years domestic/international investment experience in mining. He has managed over these years both private and public investment funds. He is the founder and managing partner at Latitude 45°, a private equity fund specialized in mining. Prior thereto, he was Senior Investment Director at The Sentient Group, one of the largest PE Funds in mining with over US$2.7 billion under management. He served as Senior Investment Director Metals & Mining at the SGF from 2006 to 2012. He was appointed to the Board of Directors of Women in mining Canada in 2017 and is currently the Chair of the Corporate Governance Committee. He is also a board member of Aligo Innovation. He has served as a director and/or officer of several Canadian and international companies. He holds a Bachelor of Economics degree from Montreal University and a Masters in Business Administration degree from Laval University. 

On behalf of the Board of Directors
of Meridian Mining SE

Anthony Julien
President, CEO and Director

ABOUT MERIDIAN

Meridian Mining SE is focused on the acquisition, exploration, development and mining activities in Brazil. The Company is currently focused on exploring and developing the Espigão manganese and gold projects, the Bom Futuro tin JV area, and adjacent areas in the state of Rondônia. The Company employs a two-pronged strategy with the objective of growing pilot production while advancing a parallel multi-commodity regional exploration program. Meridian is currently producing high grade manganese at its project located at Espigão do Oeste.

Further information can be found at www.meridianmining.co.

FORWARD-LOOKING STATEMENTS

Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the Company's plans for exploration and development of its properties and potential mineralization. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such risk factors include, among others, failure to obtain regulatory approvals, failure to complete anticipated transactions, the timing and success of future exploration and development activities, exploration and development risks, title matters, inability to obtain any required third party consents, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

The Company cautions that it has not completed any feasibility studies on any of its mineral properties, and no mineral reserve estimate has been established. In particular, because the Company's production decision relating to BMC's manganese project is not based upon a feasibility study of mineral reserves, the economic and technical viability of the Espigão manganese project has not been established.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Meridian Mining S.E.

Anthony Julien, tel: [phone], [email protected]