Meridian Gold issues statement regarding Ontario Securities Commission ruling; Board continues to recommend shareholders reject unsolicited offer



    RENO, NV, Sept. 5 /CNW/ - Meridian Gold Inc. ("Meridian Gold" or the
"Company") (TSX:MNG) (NYSE:  MDG) today issued the following statement regarding
the Ontario Securities Commission ("OSC") order which has the effect of cease
trading the Meridian Gold shareholder rights plan effective 9:00 a.m., EDT, on
September 11, 2007 in connection with the unsolicited offer to acquire common
shares of the Company by Yamana Gold Inc. ("Yamana"), as extended until 8:00
p.m., EDT, on September 11, 2007:
    "Today's ruling by the OSC in no way affects our Board's unanimous
recommendation that Meridian Gold shareholders reject the Yamana offer and not
tender their shares," stated Brian Kennedy, Chairman of Meridian Gold's Board
of Directors. "We continue to strongly believe that holding Meridian Gold
shares is preferable to accepting the inadequate Yamana offer and note that
the Board of Directors' value maximization process remains ongoing."
    Any shareholders that have questions about tendering their shares or who
have already tendered their shares and wish to withdraw their shares should
contact Georgeson Shareholder at 1-888-605-7618.

    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 Gold'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 Gold strives to be "The Premier
Value Gold Mining Company," while building a better future for all of its
stakeholders.

    Additional Information for Meridian Gold Shareholders
    -----------------------------------------------------
    Shareholders of Meridian Gold and other interested parties are advised to
read Meridian Gold's Directors' Circular and the Solicitation/Recommendation
Statement on Schedule 14D-9 filed with the U.S. Securities and Exchange
Commission ("SEC") on July 31, 2007 (including any amendments or supplements
thereto and the other documents filed as exhibits thereto), because they
contain important information. Shareholders may obtain a free copy of the
Directors' Circular and Meridian Gold's Schedule 14D-9 at the Investor
Relations section of Meridian Gold's website at www.meridiangold.com, or by
contacting Georgeson Shareholder, the information agent retained by Meridian
Gold, at 1-888-605-7618. Free copies of the Directors' Circular are also
available at www.sedar.com and, together with Meridian Gold's Schedule 14D-9,
at www.sec.gov. The Directors' Circular was filed by Meridian Gold as an
exhibit to Meridian Gold's Schedule 14D-9.

    Cautionary Statement
    --------------------
    This press release contains forward-looking information (as defined in
the Securities Act (Ontario)) that is based on expectations, estimates and
projections as of the date of this press release. These forward-looking
statements can often, but not always, be identified by the use of
forward-looking terminology such as "plans", "predicts", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases, or statements that certain actions,
events or results "may", "could", "would", "might" or "will" be taken, occur
or be achieved. Actual results and developments (including forecasted
production, earnings and cash flows) are likely to differ, and may differ
materially, from those expressed or implied by the forward-looking statements
contained in this press release.
    Forward-looking statements contained in this press release are based on a
number of assumptions that may prove to be incorrect, including, but not
limited to: timely implementation of Meridian Gold's anticipated drilling
program; the successful completion of new development projects, planned
expansions or other projects within the timelines anticipated and at
anticipated production levels; the accuracy of reserve and resource estimates,
grades, mine life and cash cost estimates; whether mineral resources can be
developed; title to mineral properties; financing requirements; general
economic conditions; changes in laws, rules and regulations applicable to
Meridian Gold; and whether or not a superior proposal to the Yamana offer will
emerge. In addition to being subject to a number of assumptions,
forward-looking statements in this press release involve known and unknown
risks, uncertainties and other factors that may cause actual results and
developments to be materially different from those expressed or implied by
such forward-looking statements, including the risks identified under "Note
Concerning Resource Calculations" in Meridian Gold's Directors' Circular as
well as the risks identified in the filings by Meridian Gold with the SEC and
Canadian provincial securities regulatory authorities, including Meridian
Gold's Annual Report on Form 40-F for the fiscal year ended December 31, 2006.
    Meridian Gold believes that the expectations reflected in the
forward-looking statements contained in this press release are reasonable, but
no assurance can be given that these expectations will prove to be correct. In
addition, although Meridian Gold has attempted to identify important factors
that could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or
intended. Accordingly, you should not place undue reliance on any
forward-looking statements contained in this press release.





For further information:

For further information: Meridian Gold Inc., Investor Relations: Krista
Muhr, Senior Manager, (800) 572-4519, fax: (775) 850-3733,
krista.muhr@meridiangold.com; or Georgeson Shareholder, 1-888-605-7618, (212)
440-9800; or Media Relations: Sard Verbinnen & Co., Dan Gagnier, (212)
687-8080 x.226; Paul Kranhold, (415) 618-8750; Meridian Gold Inc., 9670
Gateway Drive, Suite 200, Reno, Nevada, 89521, Phone: (775) 850-3777, Fax:
(775) 850-3733

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MERIDIAN GOLD

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