ASX ANNOUNCEMENT ASX Code: MII 7 April 2010
Meridian confirms Placement and Loan Facility to Advance the Lennard Shelf Project, Western Australia Key points: - Meridian announces AU$2M Placement of ordinary fully paid shares to Indian cornerstone industry investor, Binani Zinc. - Funds to be applied to the development of the Lennard Shelf Project. - Binani will also advance EUR euro6M loan to Meridian for purchase of the Galmoy zinc-lead processing plant. - Placement and Loan Facility are conditional on applicable approvals from FIRB and Reserve Bank of India. The Directors of Australian resources company Meridian Minerals Limited (Meridian or Company) (ASX: MII) are pleased to announce that Binani Zinc Limited (Binani) has agreed to an AU$2M Placement and EUR euro6M Loan Facility to advance development of the Lennard Shelf Project in Western Australias Kimberley region. Binani − the pioneer of zinc manufacturing in India and the operator of a zinc smelting facility in that country − has agreed to an AU$2M Placement of ordinary fully paid shares in Meridian. Under the terms of the Placement and Loan Facility, Binani will also have first right of refusal over 65% of zinc concentrate produced from the Lennard Shelf.

Completion of the Placement is conditional on approval by the Australian Foreign Investment Review Board (FIRB) and the Reserve Bank of India (RBI).

Binani has also agreed to advance a loan of EUR euro6M (approximately AU$8.8M) to Meridian for the purchase of the Galmoy zinclead processing plant.

The loan facility will be available to Meridian in five tranches over seven months to November 2010 and will be for a 12 month term.

The Loan Facility is conditional on approval by the RBI. The Loan Facility is repayable in one of the following ways: - by transferring title of the Galmoy zinc-lead processing plant to Binani; - by repaying EUR euro6M; or - by repaying EUR euro3M via issue of ordinary fully paid Meridian shares and repaying EUR euro3M from zinc concentrate sales over the first 18 months of production. Meridian Minerals managing director Mr.

Jeremy Read said: "We are very pleased to have negotiated an agreement which supports Meridians intention to advance development of the Lennard Shelf project in a way that delivers a range of commercial options." "Additionally, Meridian is welcoming another long-term cornerstone industry investor with a strong interest in zinc manufacturing onto our share register." "Binani will join existing industry investors NWME, Teck and Lennard Shelf Pty Ltd which is further evidence that companies remain supportive of Meridians management team and the Lennard Shelf Project.

This deal with Binani also signifies that smelting companies are still aware of the significant potential of the Lennard Shelf Project and the high-grade and clean nature of the metal concentrates capable of being produced from the project." Patersons Securities (Patersons) is acting as Lead Manager to the Placement. To download the full ASX Announcement click here. http://esp.gewru.com/download/files/12414/1130513/Meridian%20confirms%20plaement%20and%20loan%20facility%20to%20advance%20the%20Lenn.pdf For further information please visit www.meridianminerals.com.au or contact
Mr Jeremy Read Managing Director Meridian Minerals Limited Tel: 07 3844 6444 Mob: 0409 484 322 James Harris Professional Public Relations Tel: 08 9388 0944 Mob: 0400 296 547 Em:
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Jeremy Read, who is a member of The Australasian Institute of Mining and Metallurgy.

Mr Read is a full-time employee of Meridian Minerals Limited. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to quality as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

Mr Read consents to the inclusion in this announcement of the matters based upon his information in the form and context in which it appears.
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