Offer Update

Brancote Holdings PLC
19 April 2002

Announcement of F-4 filing

Further to the announcement of an Offer for Brancote Holdings PLC ('Brancote' or
the 'Company') by Meridian Gold Inc. ('Meridian') on 4 April 2002, the Company
confirms that filing of an F-4 Registration Statement was made on 19 April 2002
by Meridian with the US Securities and Exchange Commission ('SEC'). The Offer
Document will be posted to shareholders of Brancote upon confirmation from the
SEC of the F-4 Registration Statement becoming effective.



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