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					ASX / Media Release
5 August 2010


    Metallurgical Tests on Mineralisation from Kapok West in WA
        Produce Excellent Quality Mineral Concentrates and
                    Significantly De-Risk Project

Highlights

   •   Metallurgical test work on lead and zinc mineralisation from the Kapok West
       Mineral Resource confirms that the Kapok West mineralisation produces high
       grade lead and zinc mineral concentrates at excellent recoveries;
   •   A locked cycle test produced a lead mineral concentrate of 77% lead at a 96%
       recovery and a zinc mineral concentrate of 61% zinc at a 93% recovery;
   •   The metallurgical test work confirms that the Kapok West mineralisation can
       be processed in the same manner as previously applied to the historical
       Kapok and Cadjebut mines and this represents a significant de-risking of the
       project.

Australian resources company Meridian Minerals Limited (‘Meridian’ or ‘Company’) (ASX: MII)
today announces the results from metallurgical test work conducted on lead and zinc mineralisation
from the Kapok West Mineral Resource on the Lennard Shelf Project, Western Australia. The
metallurgical test work was undertaken as a component of the Emanuel Range Bankable Feasibility
Study which is examining the viability of recommencing mining operations on the Lennard Shelf
based upon the Kapok, Kapok West and Cadjebut Splay Mineral Resources (see Table One).

The Kapok West metallurgical test work has confirmed that the lead and zinc mineralisation from the
Kapok West Mineral Resource produce very high grade lead and zinc mineral concentrates in a
manner entirely consistent with lead and zinc mineralisation from the historical Kapok and Cadjebut
mines. The flotation regime used for the test work was identical to that used when the Kapok mine
was previously in production, confirming that the Kapok West mineralisation can be processed in the
same manner as the Kapok mineralisation was previously processed.

Meridian’s Managing Director, Jeremy Read, said that the metallurgical test work confirms that the
Kapok West mineralisation can be processed in the same manner as the mineralisation from the
historical Kapok mine and significantly de-risks the project.

“When in production the Lennard Shelf Project had a reputation for producing high grade and very
clean mineral concentrates which were sought after by smelters,” Mr Read said.

“The metallurgical test work completed on the Kapok West mineralisation confirms that Kapok West
will also produce high grade, clean mineral concentrates using the same process as previously
applied to the Kapok mineralisation.”

“This is an important result as we can now finalise the processing and flotation design for the
processing plant, which will essentially be the same as previously used on the project.”
Kapok West Metallurgical Test Work Program

In late November 2009, Meridian commenced a Bankable Feasibility Study (‘BFS’) to determine the
viability of recommencing mining of the Kapok Mineral Resource and establishing new mining
operations at the Kapok West and Cadjebut Splay Mineral Resources. This study is termed the
Emanuel Range BFS, due to the geographic location of Kapok, Kapok West and Cadjebut Splay in
the Emanuel Range region of the Lennard Shelf Project (Figure One).

An important component of the Emanuel Range BFS was to determine if the Kapok West lead and
zinc mineralisation was capable of being processed using the same methodology as previously
applied to the mineralisation from the Kapok mine when it was in production. In order to investigate
the metallurgical characteristics of the Kapok West mineralisation, mineralised sections from drill
holes KW09-001 and KW09-003 were sampled and sent to the AMMTEC laboratory in Tasmania for
metallurgical evaluation. From the two mineralised intervals, six composite samples of variable zinc
and lead content were compiled.

The six composite samples were subjected to chemical analysis, mineralogical analysis and batch
flotation tests. One of the composite samples was selected for locked cycle flotation work. The
flotation regime used was identical to that used for processing mineralisation from the Kapok mine
when it was in production.

Overall, the flotation results were consistently good and in particular, for the flotation of the lead
mineralisation. Lead recovery to concentrate of 93-97% was typical. The locked cycle test produced
a lead concentrate of 77% lead at 96% recovery. This result actually exceeds the historical
performance of the Kapok ore and is mostly due to the fact that Kapok West has higher grades of
lead, in comparison to Kapok when it was in production.

The zinc metallurgical test results typically showed recoveries of 83-89%, with the lower recoveries
coming from lower zinc mineral intersections. The locked cycle test produced a zinc concentrate of
61% zinc at 93% recovery. This is a very good result considering the relatively low zinc head grade
of 2.6% zinc (Kapok West is a predominantly lead mineral resource).

The mineralogical analysis showed very good liberation of lead and zinc at the nominated grind size
of p80=106µm.



        For further information please visit www.meridianminerals.com.au or contact:

                  Mr Jeremy Read                                   Mr James Harris
                 Managing Director                           Professional Public Relations
              Meridian Minerals Limited                           Tel: 08 9388 0944
                 Tel: 07 3225 0400                                Mob: 0400 296 547
                Mob: 0409 484 322                           Em: james.harris@ppr.com.au
                                      Table One – Lennard Shelf Mineral Resource Inventory June 2010

                                          Cutoff                                            Indicated            Inferred
                 Resource                                               Measured                                                              Total
                                          Grade
                                                         Tonnes                                                 1,100,000                  1,100,000
                                           3%             Zn %                                                     2.4                         2.4
              Cadjebut Splay                              Pb %                                                     8.5                         8.5
                                          Zn+Pb
                                                          Ag g/t                                                   15.7                       15.7
                                                         Tonnes                                                 2,900,000                  2,900,000
                                           3%             Zn %                                                     3.1                         3.1
                Kapok West                                Pb %
                                          Zn+Pb                                                                    5.5                         5.5
                                                          Ag g/t                                                   13.9                       13.9
                                                         Tonnes            23,000            868,000                                        891,000
                                          5% Zn
              Kapok Central*                              Zn %               7.0               8.6                                             8.6
                                           Eq
                                                          Pb %               9.4               5.5                                             5.6
                                                         Tonnes             1,000            261,000             357,000                    619,000
                                          5% Zn
                Kapok East*                               Zn %               2.6               6.9                 8.0                         7.6
                                           Eq
                                                          Pb %              18.2               6.6                 11.2                        9.3
                                                         Tonnes                             1,910,000            430,000                   2,340,000
                                          5% Zn           Zn %                                 7.4                 6.4                         7.2
                   Kutarta*
                                           Eq             Pb %                                 0.6                 0.3                         0.5
                                                          Ag g/t                                36                  53                         39
                                                         Tonnes                                                 2,620,000                  2,620,000
                                           3%             Zn %                                                     5.4                         5.4
                  Palijippa
                                          Zn+Pb           Pb%                                                      1.2                         1.2
                                                          Ag g/t                                                   33.6                       33.6
                                                         Tonnes                                                 2,150,000                  2,150,000
                                          3% Zn           Zn %                                                     9.5                         9.5
               Fossil Downs*
                                           Eq             Pb %                                                     2.1                         2.1
                                                          Ag g/t                                                    50                         50
                                                         Tonnes                                                  590,000                    590,000
                                                          Zn %                                                     8.5                        8.5
                                          5% Zn
              Napier Range*                               Pb %                                                     8.0                        8.0
                                           Eq
                                                          Cu %                                                     0.5                        0.5
                                                          Ag g/t                                                   75                         75
                                                        Tonnes             24,000           3,039,000           9,747,000                 13,210,000
              Lennard Shelf
                                                         Zn%                 6.8               7.7                 5.9                        6.3
                  Total
                                                         Pb%                 9.8               2.5                 4.2                        3.8


   Prospects marked with an * indicate the mineral resource has been reported according to the guidelines of the Australasian Code for Reporting Resources and
   Ore Reserves (The JORC Code 1999). Where used, zinc equivalent (Zn Eq) cut-off grades were calculated using the formula Zn Eq = Zn % + (Pb % / 2). Also,
   a minimum downhole thickness of two meters was used during the mineral resource estimation for the prospects marked with an asterisk. At Palijippa, Kapok
   West and Cadjebut Splay the mineral resource is reported according to the guidelines of the Australasian Code for Reporting Resources and Ore Reserves
   (The JORC Code 2004).



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. The information in this report that relates to the Palijippa and
Cadjebut Splay Mineral Resources is based on information compiled by Mr Trevor Ellice, who is a member of The Australasian Institute of Mining and Metallurgy. Mr
Ellice is a full-time employee of Xstract Mining Consultants Pty Ltd. 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 Ellice consents to the inclusion in this announcement of the matters based upon his information in the
form and context in which it appears. The information in this report that relates to the Kapok West Mineral Resources is based on information compiled by Mr Jason
Hosken, who is a member of The Australasian Institute of Mining and Metallurgy. Mr Hosken is a full-time employee of Xstract Mining Consultants Pty Ltd. 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 Hosken
consents to the inclusion in this announcement of the matters based upon his information in the form and context in which it appears.
                    Cut-off                   120°E                                                                                     125°E                                                                                    130°E
  Resource          Grade                  Measured Indicated     Inferred        Total
                                 Tonnes
                                                                                                                                                                                                                                   Daly River
                                                                  2,900,000      2,900,000
                     3%           Zn%                                3.1            3.1
 Kapok West                       Pb %
                    Zn+Pb                                            5.5            5.5                                                                                                           JOSEPH
                                  Ag g/t                             13.9           13.9
                                                                                                                                                                                               B O N A PA RT E
                                 Tonnes     23,000     868,000                   891,000
                    5% Zn                                                                                                                                  Warrender                                GULF
Kapok Central*                    Zn%        7.0         8.6                       8.6
                     Eq
                                  Pb %       9.4         5.5                       5.6
                                 Tonnes      1,000     261,000    357,000        619,000
                    5% Zn
 Kapok East*                      Zn%         2.6        6.9        8.0            7.6
                     Eq           Pb %       18.2        6.6       11.2            9.3
15°S                                                                                                                                                                                                                                               15°S
                                 Tonnes               1,910,000    430,000       2,340,000
                    5% Zn         Zn%                    7.4         6.4            7.2
   Kutarta*
                     Eq           Pb %                   0.6         0.3            0.5                                                                                             Wyndham
                                  Ag g/t                 36           53             39
                                                                                                                                                                                                                                         Timber Creek
                                 Tonnes                           1,100,000      1,100,000                                                                                                               Kununurra
                    5% Zn         Zn%                                2.4            2.4
Cadjebut Splay*
                     Eq           Pb %                               8.5            8.5
                                  Ag g/t                             15.7           15.7                               Koolan
                                 Tonnes                           2,620,000      2,620,000                                                                                                               Lake Argyle
                     3%           Zn%                                5.4            5.4
   Palijippa
                    Zn+Pb         Pb%                                1.2            1.2
                                  Ag g/t                             33.6           33.6
                                 Tonnes                           2,150,000      2,150,000                                                            0.59 Mt @ 8.5% Zn, 8.0% Pb & 75 g/t Ag
                    3% Zn         Zn%                                9.5            9.5
Fossil Downs*
                     Eq           Pb %                               2.1            2.1
               INDIAN             Ag g/t      OCEAN                   50             50                                                Napier Range (Wagon Pass)                                Turkey Creek
                                 Tonnes                            590,000        590,000                     DERBY
                                  Zn%                                8.5            8.5
                    5% Zn
Napier Range*                     Pb %                               8.0            8.0
                     Eq                                                                                                                         LENNARD SHELF
                                  Cu%                                0.5            0.5
                                  Ag g/t                              75             75                                                                                            2.15 Mt @ 9.5% Zn, 2.1% Pb & 50 g/t Ag
                                 Tonnes     24,000    3,039,000 10,147,000 13,210,000
Lennard Shelf                     Zn%        6.8         7.7        5.9       6.3                   BROOME
    Total                                                                                                                                                 Fossil Downs
                                  Pb %       9.8         2,5        4.2       3.8
                                                                                                                                   Fitzroy Crossing                                     Halls Creek                    NORTHERN
                                                                                                                                                           PILLARA
                                                                                                                                    GOONGEWA                                                                           TERRITORY
                                                                             Lagrange
                                                                                                                                      CADJEBUT                                             0.89 Mt @ 8.6% Zn, 5.6% Pb
                                                                             1.10 Mt @ 2.4% Zn, 8.5% Pb, 15.7 g/t Ag                                         KAPOK
                                                                                                                                   Cadjebut Splay            KAPOK EAST
                                                                                                                                          Kutarta                                          0.62 Mt @ 7.6% Zn, 9.3% Pb
                                                                                   2.34 Mt @ 7.2% Zn, 0.5% Pb & 39 g/t Ag                Palijippa
                                                                                                                                      Kapok West                       2.62 Mt @ 5.4% Zn, 1.2% Pb, 33.6 g/t Ag

                                           Pardoo                                         2.9 Mt @ 3.1% Zn, 5.5% Pb, 13.9 g/t Ag
20°S                                                                                                                                                                                                                                               20°S

 PORT HEDLAND                                   GOLDSWORTHY                                                      WESTERN                 AUSTRALIA
                                                                                                                                                                                                                                    The Granites


                                     Marble Bar
                                                     120°E                                                                              125°E                                                                           130°E




                                                                             0                100            200 km                     Mine                   Railway                                 LENNARD SHELF PROJECT
                                                                                                                                        Resource               Principal Road             LOCATION OF MINES AND PROSPECTS
                                                                       Lambert Conformal Conic Projection.
                                                                                GDA94 Datum.                                                                   Secondary Road             Prepared:            Date: June 2010
   Level 1, 30 Little Cribb Street   Tel +61 7 3225 0400                                                                                                                                                                                 FIGURE 1
   Milton QLD 4064                   Fax +61 7 3225 0499                                                                                                                                  Drawn: RRM           Drwg No.:

				
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