MDG Meridian Gold

Meridian Gold Inc. ("Meridian Gold" or the "Company") (TSX:MNG) (NYSE:MDG) has been advised that Yamana Gold Inc. ("Yamana") has filed documents with the U.S. Securities and Exchange Commission and Canadian securities authorities formally commencing an unsolicited tender offer to acquire all of the outstanding common shares of Meridian Gold on the basis of 2.235 Yamana common shares and Cdn$3.15 in cash for each common share of Meridian Gold. Consistent with its fiduciary duties, Meridian Gold's Board of Directors will carefully review and consider the offer and will advise Meridian Gold shareholders of the Board's recommendation with respect to the offer and the reasons for its recommendation within the next ten business days. Accordingly, Meridian Gold urges its shareholders to defer making any decision with respect to the Yamana offer until they have been advised of the Board's recommendation. Goldman, Sachs & Co. and BMO Capital Markets are acting as financial advisors to the Company. Canadian legal counsel to the Company is Fraser Milner Casgrain LLP and U.S. legal counsel is Skadden, Arps, Slate, Meagher & Flom LLP. About Meridian Gold A unique mid-tier gold producer, with world-class mining operations in Chile and Nevada and a pipeline of promising exploration projects throughout the Americas, Meridian's success to date has been based on grassroots gold discoveries and a low-cost strategy, resulting in a better approach to adding value and balancing growth. Meridian strives to be "The Premier Value Gold Mining Company," while building a better future for all of its stakeholders. In response to the offer by Yamana, Meridian Gold will send to shareholders a Directors' Circular and file with the U.S. Securities and Exchange Commission a Solicitation/Recommendation Statement on Schedule 14D-9. Shareholders of Meridian Gold are advised to read these documents carefully when they become available because they will contain important information. Shareholders may obtain a free copy of the Solicitation/Recommendation Statement on Schedule 14D-9 (when it becomes available), as well as any other documents filed by Meridian Gold in connection with the offer by Yamana, free of charge at the SEC's website at www.sec.gov or at the Investor Relations section of the Meridian Gold web site at www.meridiangold.com, and will also be available, without charge, by directing requests to Meridian Gold's Investor Relations department. Meridian Gold Inc. ("Meridian Gold" or the "Company") (TSX:MNG) (NYSE:MDG) has been advised that Yamana Gold Inc. ("Yamana") has filed documents with the U.S. Securities and Exchange Commission and Canadian securities authorities formally commencing an unsolicited tender offer to acquire all of the outstanding common shares of Meridian Gold on the basis of 2.235 Yamana common shares and Cdn$3.15 in cash for each common share of Meridian Gold. Consistent with its fiduciary duties, Meridian Gold's Board of Directors will carefully review and consider the offer and will advise Meridian Gold shareholders of the Board's recommendation with respect to the offer and the reasons for its recommendation within the next ten business days. Accordingly, Meridian Gold urges its shareholders to defer making any decision with respect to the Yamana offer until they have been advised of the Board's recommendation. Goldman, Sachs & Co. and BMO Capital Markets are acting as financial advisors to the Company. Canadian legal counsel to the Company is Fraser Milner Casgrain LLP and U.S. legal counsel is Skadden, Arps, Slate, Meagher & Flom LLP. About Meridian Gold A unique mid-tier gold producer, with world-class mining operations in Chile and Nevada and a pipeline of promising exploration projects throughout the Americas, Meridian's success to date has been based on grassroots gold discoveries and a low-cost strategy, resulting in a better approach to adding value and balancing growth. Meridian strives to be "The Premier Value Gold Mining Company," while building a better future for all of its stakeholders. In response to the offer by Yamana, Meridian Gold will send to shareholders a Directors' Circular and file with the U.S. Securities and Exchange Commission a Solicitation/Recommendation Statement on Schedule 14D-9. Shareholders of Meridian Gold are advised to read these documents carefully when they become available because they will contain important information. Shareholders may obtain a free copy of the Solicitation/Recommendation Statement on Schedule 14D-9 (when it becomes available), as well as any other documents filed by Meridian Gold in connection with the offer by Yamana, free of charge at the SEC's website at www.sec.gov or at the Investor Relations section of the Meridian Gold web site at www.meridiangold.com, and will also be available, without charge, by directing requests to Meridian Gold's Investor Relations department.