Meridian Gold to review revised unsolicited tender offer by Yamana

    Reno, NV, Sept. 20 /CNW/ - Meridian Gold Inc. ("Meridian Gold" or the
"Company") (TSX: MNG) (NYSE:   MDG) announced today, in response to the revised
unsolicited tender offer by Yamana Gold Inc. ("Yamana") to acquire all of the
outstanding common shares of Meridian Gold on the basis of 2.235 Yamana common
shares and Cdn $6.50 in cash for each common share of Meridian Gold, that the
Company's Board of Directors will carefully review and consider the revised
offer and will issue in due course a statement containing the Board's
recommendation to Meridian Gold shareholders with respect to the revised
Yamana offer and an update of Meridian Gold's Solicitation / Recommendation
Statement on Schedule 14D-9. During this time, Meridian Gold urges its
shareholders to defer making any decision with respect to the revised Yamana
offer until they have had the opportunity to review the Board's statement and
the related amendment to Meridian Gold's Solicitation / Recommendation
    BMO Capital Markets and Goldman, Sachs & Co. 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 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
    Meridian Gold's Board will amend its Solicitation/Recommendation
Statement on Schedule 14D-9 in response to the revised Yamana offer. This
revised document will contain important information, including the Board's
recommendation to Meridian Gold shareholders with respect to the revised
Yamana offer. 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 by Meridian Gold
with the SEC on July 31, 2007 (and any amendments (including the forthcoming
amendment) or supplements thereto and the other documents filed as exhibits
thereto), because they contain important information. Shareholders and other
interested parties 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, or by contacting Georgeson
Shareholder, the information agent retained by Meridian Gold, at
1-888-605-7618. Free copies of Meridian Gold's Directors' Circular may also be
obtained at and, together with Meridian Gold's Schedule 14D-9,
at The Directors' Circular was filed by Meridian Gold as an
exhibit to its Schedule 14D-9.

For further information:

For further information: Meridian Gold Inc., Investor Relations: Krista
Muhr, Senior Manager, 1-800-572-4519, fax: (775) 850-3733, 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

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