Meridian Gold Acquires 100% Interest In Gold Fields Joint Venture Prop

    News Editors

    RENO, Nev.--(BUSINESS WIRE)--March 30, 2005--All Dollar amounts in U.S. currency

    Meridian Gold (TSX:MNG)(NYSE:MDG) is pleased to announce that it has agreed to purchase full control of the joint venture property previously shared with Gold Fields. This transaction consolidates Meridian's control of 720 square kilometers of contiguous land in the expanding El Penon gold and silver district in northern Chile, which has already yielded discoveries of over 4.6 million ounces of gold and 110 million ounces of silver.

    The Property

    The property, which lies to the west and adjacent to the El Penon claim block, extends Meridian's control of El Penon by 78 square kilometers. It hosts the high-grade Fortuna Vein that Meridian geologists discovered during 2004, which is located approximately 7 kilometers west of the El Penon processing facilities. Drilling to date has identified the main structure with several high-grade intercepts. Significant published results from the latest phase of drilling can be found in the fourth quarter 2004 earnings release issued on February 23, 2005, and a long section of the Fortuna Vein with all the drill holes plotted can be found on the Company's website at www.meridiangold.com. The vein remains open along strike and at depth.

    The Transaction

    Minera Meridian Ltda, a wholly-owned subsidiary of Meridian Gold, Inc. paid $7.5 million to Gold Fields Chile Ltda, a wholly-owned subsidiary of Gold Fields Ltd. The purchase price also includes a 2% royalty on all precious metals production.

    The Strategy

    Darcy Marud, Meridian's Vice President of Exploration, commented, "I am delighted that we are entering this next chapter at El Penon. As a company, we continue to focus on exploration and the El Penon district plays a key role in our growth strategy. This transaction represents an exciting opportunity for the Company and is consistent with our strategy as we continue to expand our land position at El Penon and throughout northern Chile. The early success we've had with the Fortuna Vein provides excellent potential as we continue exploring this vein and expanding our exploration efforts in the surrounding areas. The El Penon district will receive the highest priority in Meridian's 2005 exploration program as the Company expands its four early-stage discoveries made in 2004 of Dorada, Fortuna, Sorpresa and Providencia."

    Meridian Gold Inc. is a different kind of gold company because we focus on profitability, and the quality of the ounces we produce, not the quantity of ounces produced. The quality of these ounces is measured by the value we deliver to all stakeholders in the process, including our shareholders, our employees and the communities and environment in which we live and operate. Meridian Gold Inc.'s approximately 100 million common shares are traded on the Toronto Stock Exchange (MNG) and the New York Stock Exchange (MDG).



    Meridian Gold Inc. (TSX:MNG) (NYSE:MDG)

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CONTACT: Meridian Gold Inc. Deborah Liston Investor Relations (800) 572-4519 Fax: (775) 850-3733 investorrelations@meridiangold.com www.meridiangold.com

KEYWORD: NEVADA NEW YORK INTERNATIONAL CANADA INDUSTRY KEYWORD: MINING/METALS SOURCE: Meridian Gold Inc.

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