Result of EGM

Brancote Holdings PLC
17 June 2002

PRESS RELEASE

For Immediate Release



17 June 2002



   Not for release, publication or distribution in or into Australia or Japan

RECOMMENDED SHARE EXCHANGE OFFER BY MERIDIAN GOlD inc. FOR BRANCOTE HOLDINGS PLC
(the 'OFFER')

               Result of Brancote's Extraordinary General Meeting
                                      and
                      level of acceptances under the Offer

Meridian Gold Inc. ('Meridian') and Brancote Holdings PLC ('Brancote' or the
'Company') are pleased to announce that at this morning's Extraordinary General
Meeting convened to approve the increase in Brancote's authorised share capital
and to give authority to the directors of Brancote to allot shares to the
holders of the minority interest in the Company's subsidiary, Minera El Desquite
S.A., all the resolutions set out in the notice convening the meeting were duly
passed.

It is noted that all the conditions to the Offer relating to required regulatory
or third party consents have been satisfied.

By 3.00 p.m. on 17 June 2002, valid acceptances of the Offer had been received
by Meridian in respect of 17,976,897 Brancote shares, representing 20.29 per
cent of Brancote's issued share capital.

The valid acceptances of the Offer referred to above include acceptances in
respect of 15,559,697 Brancote shares, representing 17.56 per cent of Brancote's
existing issued share capital, held by directors of Brancote and Consolidated
Press International Limited, the Company's largest shareholder, in respect of
which irrevocable undertakings to Meridian to accept the Offer were given prior
to the commencement of the Offer. In addition, since the commencement of the
Offer  certain directors of Brancote have exercised options over 901,778
Brancote shares and valid acceptances of the Offer in respect of 151,778 of the
resulting shares have been received by Meridian.

The first closing date of the Offer is 3.00 p.m. on 26 June 2002.

Meridian has filed a registration statement on Form F-4 with the SEC that
includes the offer document/prospectus relating to the exchange offer.  Brancote
shareholders are urged to read the offer document/prospectus before they make
any decision with respect to the exchange offer. Brancote shareholders and
Meridian shareholders may obtain a free copy of the offer document/prospectus
and other documents filed by Meridian with the SEC at the SEC's website at
www.sec.gov.  The offer document/prospectus and other documents may also be
obtained for free upon written or oral request from Meridian, 9670 Gateway
Drive, Suite 200, Reno, Nevada 89511-8953 USA, attention Heather Fatzer,
telephone [phone].



PRESS ENQUIRIES



Meridian                        Tel: [phone]
Wayne Hubert

Standard Bank London Limited    Tel: [phone]
Andrew King

BMO Nesbitt Burns Inc.          Tel: [phone]
Egizio Bianchini

Brancote                        Tel: [phone]
Richard Prickett
Bill Humphries

Brown, Shipley & Co. Limited    Tel: [phone]
William Staple

Holborn                         Tel: [phone]
David Bick

The Offer is not being made, directly or indirectly, in or into Australia or
Japan, or by the use of, the mails of or by any means or instrumentality
(including, without limitation, telephonicallyor electronically) of interstate
or foreign commerce of, or of any facility of a national securities exchange of,
Australia or Japan. Accordingly, copies of this announcement are not being, and
must not be, mailed or otherwise distributed or sent in or into Australia or
Japan.

Standard Bank, which is regulated in the UK by the Financial Services Authority,
is acting for Meridian and no one else in connection with the Offer and will not
be responsible to anyone other than Meridian for providing the protections
afforded to clients of Standard Bank nor for providing advice in relation to the
Offer.

Brown Shipley, which is regulated in the UK by the Financial Services Authority,
is acting for Brancote and no one else in connection with the Offer and will not
be responsible to anyone other than Brancote for providing the protections
afforded to clients of Brown Shipley nor for providing advice in relation to the
Offer.



END.



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