The New Drilling Season

I thought I would for forum members, old, new and prospective, remind them of MEI's resource and prospects as we head into the new drilling season.

Firstly JURUENA:

Most notable were the drill intercepts from the first campaign particularly at Dona Maria where most of the JORC resource has been obtained.

J1 and J8 returned some of the best gold drill intercepts GLOBALLY in 2019.

J1 confirmed the bonanza grades in the mineralised system.

JUDD001 ‐ 20.6m @ 94.9 g/t Au from 96.8m (1,954 g/t.m) including 3.65m @ 508.4 g/t Au from
107.5m (1,885 g/t.m) (ASX announcement 18/9/19)

While the J1 intercept was no doubt spectacular and jaw dropping to say the least it was J8 that really got me interested.

JUDD008 ‐ 14.0m @ 81.7 g/t Au from 142.0m (1,144 g/t.m) including 2.0m @ 71.6 g/t Au from
144.5m (143 g/t.m) and 2.5m @ 287.4 g/t Au from 149.0m (716 g/t.m) (ASX announcement 14/10/19)

Why?

It proved that bonanza grades were extended at the Dona Maria ore shoot and gave greater scope to the JORC being outside the indicated, in the inferred zone.

To quote the company report:

'Importantly, the JUDD008 intercept is approximately 30m south and 40m down dip of the bonanza intercept
previously reported from JUDD001 and has extended the very high‐grade ore‐shoot at Dona Maria. Further, the
JUDD008 intercept occurs outside the Indicated portion of the Dona Maria Mineral Resource in the inferred
zone. The success of JUDD008 will lead to further testing of this sub‐vertically plunging ore shoot at depth
towards the end of the program.'

What was also really encouraging was that there was a continuity of high grade gold further down the shoot(J9) and this continued beneath the dolerite(J22)under the base of the resource model! showing the resource of high grade gold was open at depth opening up exciting drill targets to explore the depth and width of the southern shoot in this upcoming drill season. The northern shoot is relatively unexplored but has had some high grade hits from the previous owners which by this fact, and the encouraging results from the southern shoot, represents further drill targets for this season.






CRENTES-A Copper-Gold Porphyry Deposit?

What was also particularly encouraging was the potential for a copper-gold porphyry deposit with the drill result for J-10, as in I quote:

JUDD010 intersected a thick zone of gold‐copper mineralisation at Crentes Prospect, immediately adjacent to Dona Maria

*54.3m @ 1.33g/t Au and 0.23% Cu from 171m including:

* 12.0m @ 4.54g/t Au and 0.25% Cu from 178.5m



Interestingly geophysical mapping suggests that the drill bit got it right when we look at the map and look at the copper values(in red) at Crentes. Also the data suggests the anomalies were BELOW 100 metres and thus never intersected in previous drilling and therefore made sense that Meteoric's significant intercept was from 171 metres.

Therefore further drilling here opens up the discovery for a copper-gold porphyry deposit which can add considerable value to the resource!

To quote the company:

'Stronger Cu‐Mo values in the Crentes‐Uiliam area (coincident with IP resistivity and chargeability features)
appear to be consistent with a better mineralised, perhaps younger or higher‐level porphyry body. 3D inversion
of the IP data suggests the anomalies are below 100m and hence were likely never intersected with drilling.'


Note also the copper values in other areas at Juruena like Arrastro Hills which to quote the company, opens up the potential for
additional gold‐rich porphyry discoveries across the ENTIRE Juruena project.

Novo Astro:

Novo has great potential, and is a huge gold anomaly.

To quote MEI:

“Although these results were not what we had anticipated based on the alteration and sulphides observed
in the drilling, both the Brazilian Geology team and the Board still believe Novo Astra represents an
enormous opportunity for discovery. We have clearly drilled into a major mineralised system with all the
right trace metals, but equally, clearly are in the wrong part of that system."

Clearly MEI need to do geophysical analysis on Novo to delineate drill targets for the future. Also remember that Dr. Andrew Tunks, Managing Director of MEI acquired the tenements for Juruena, with Novo being a bonus.

However, the priority at the moment is Juruena with already a sizeable JORC and the capacity to expand that resource significantly and in addition the potential to delineate a copper-gold porphyry deposit.

Therefore all in all an exciting drill program to look forward to at Dona and Crentes and who knows what else in the upcoming drill season.

Proposed Drill Targets for 2020 Drill Program at Juruena:

P.S.

1. Since MEI has acquired this project the price of gold has increased as much as 50% and the conservative Bank of America predicts gold to reach $3000 USD(currently $1727 USD) in 18 months.--PRESS HERE

2. MEI's current JORCsee table below)




Sure, more work is required to increase JORC confidence from inferred into indicated, and also MEI will be drilling to expand its resource.
However, note the indicated grade for Dona Maria is 13.9 g/t and Querosene 28.4 g/t. Now if you consider that 5 grams per tonne is generally considered high grade MEI's grading is literally OFF THE CHARTS!

Price of Gold and JORC: see above, suffice to say that MEI's resource is now worth 50% more than when they acquired the project last year, and if the conservative Bank of America's prediction is right and in 18 months the gold price reaches $3000, MEI's resource will be worth 150% more than it was last year-PRESS HERE

3. Plenty of cash in the bank!

Unlike other companies MEI have plenty of cash in the bank($7 million) which is way more than enough to drill Juruena, and to take advantage of this massive gold bull run by acquiring some other projects which the company has mentioned recently.

4. When will MEI be drilling?

Mato Grosso where MEI have their tenements has been relatively unaffected by Covid-19 and they are opening their businesses there. Goiania, the lab where MEI has its assays done is open for business. Brazil has declared mining an essential service, Anglo-American are continuing to mine in Brazil, and Altimara with a project near us(Cajuerio) are planning to return to operations in late May.-PRESS HERE Also, Tolga Kumova our number one shareholder met with management this week-PRESS HERE. So, joining the dots I would expect us to be drilling again soon.

Therefore perhaps next week we will get an announcement which with the potential we have you would think be a stimulus to the share price knowing that we will be drilling and results will start to flow. I would expect therefore some FOMO to kick in as we build up to the next announcement.

AIMO