LONDON, April 9, 2018 /CNW/ - Meridian Mining SE (TSX
V: MNO) ("Meridian" or the "Company") today announced Q1 2018 production and sales results for Meridian's high-grade
manganese project located in the state of Rondônia, in North-Western Brazil.
Between January 1 and March 31st 2018, Meridian:
- Produced 11,333 metric tonnes
- Sold 21,576 metric tonnes
- Completed the trommel upgrade at the Rio Madeira Plant
"Despite intense rainfall events affecting the extraction and transport of material and the closure of Rio Madeira plant to allow a replacement trommel to be installed, production has still achieved its
1st quarter targets. This has been a testing time for the team but with the end of the wet season in sight,
production will benefit from the upgrades in infrastructure and equipment," said Anthony Julien, President and CEO of
Meridian. "We are now positioned to capitalise on an increasing demand for high quality manganese utilising our enhanced
capacity."
Production
Meridian more than doubled production output producing 11,333 metric tonnes (Mt) of manganese product in the first
quarter of 2018 versus 5,530 Mt in the first quarter of 2017.
Sales
Sales increased 67% over the prior year period. In the first quarter of 2017 Meridian sold 12,921 Mt of manganese versus 21,576 Mt in the first quarter of 2018.
CIF Tianjin benchmark pricing for 44% manganese was US$8.76 per dmtu as of March 30th, 2018 versus US$
5.21 per dmtu as of March 31, 2017. (source: www.metalbulletin.com ).
QUALIFIED PERSON
The technical information about the Company's production and sales activities has been prepared under the supervision of and
verified by Carlos Braga (B.Sc., MBA, member of the Chilean Mining Commission), the Chief
Operating Officer of Meridian Mining, who is a "qualified person" within the meaning of National Instrument 43-101.
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 in no way passed upon the merits of the proposed Arrangement and 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.
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