Significant Sulphides Intersected at Meridian

Medallion Metals Limited (ASX:MM8, Medallion or the Company) is pleased to report visual results from diamond drilling at the regional Meridian prospect. Meridian is situated approximately 4km to the west of the Ravensthorpe townsite (Figure 1) and 21 kms along strike from the Kundip Mining Centre (KMC) which hosts the Company’s current JORC 2012 Mineral Resource Estimate (“MRE”) of 674,000 oz1 at 2.4g/t Au.

Highlights

• First diamond drill hole intersects 4.6m of mineralisation at Meridian prospect
• Disseminated and matrix to massive sulphide mineralisation intersected at down hole depth predicted by DHEM conductor
• Targeting success supports DHEM as a key predictive tool at Meridian
• Multiple additional DHEM conductors remain to be tested

Managing Director, Paul Bennett, commented:

“This is an outstanding result and full credit to the project team who have stuck to a process they believed in and have undertaken some outstanding exploration work. For the first hole to generate an intersection containing significant massive sulphides validates DHEM as an effective targeting tool at Meridian which greatly enhances our confidence and ability to be predictive. Importantly, Meridian has been extended at depth building confidence it’s a mineralised system with scale. Given its location 21km along strike from Kundip underlines the district scale opportunity Medallion’s dominant ground holding represents.”

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