<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 6-K

                            Report of Foreign Issuer
                      Pursuant to Rule 13a-16 or 15d-16 of
                       the Securities Exchange Act of 1934

For the month of July, 1998                   Commission File Number: 001-12003

                               MERIDIAN GOLD INC.
                              (Name of Registrant)

                               9670 Gateway Drive
                               Reno, Nevada 89511
                    (Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.

                      Form 20-F  /X/             Form 40-F  / /

Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the SEC
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                      Yes  /X/                   No  / /


Meridian Gold Inc.                   [LOGO OF MERIDIAN GOLD INC. APPEARS HERE]
9670 Gateway Drive
Reno, Nevada 89511
Phone:  702-850-3777
Fax:  702-850-3733



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MERIDIAN GOLD INC.
9670 GATEWAY DRIVE
RENO, NEVADA 89511
PHONE: (702) 850-3777
FAX:   (702) 850-3733
-------------------------------------------------------------------------------

     MERIDIAN GOLD REPORTS SIGNIFICANTLY HIGHER-GRADE RESULTS FROM EL PENON
                          All Currency in U.S. Dollars

RENO, NEVADA, JULY 14, 1998 - Meridian Gold Inc. today is pleased to report
further successful results from drilling on the Quebrada Colorada and Doncella
zones at El Penon. Reverse circulation drilling at Quebrada Colorada is
continuing to confirm and expand the mineralization reported in the press
release of July 6, 1998. There are now two drill rigs -- one RC, one diamond --
drilling 24 hours per day on the zone, and a third rig will be added this week.
A total of 24 holes have been drilled on the zone. Including this release, a
total of 15 holes have been reported.

QUEBRADA COLORADA RESULTS
Assay results from three new holes (PP223-PP225) have extended the
mineralization 60 meters to the north and 65 meters down-dip from previously
reported results. The deepest of the three new holes (PP224) continues to
confirm that the mineralization becomes wider and stronger with depth. The total
potential strike length of the mineralization is unknown at this time but
currently extends for a total of 210 meters based on assay results.

Meridian is awaiting assays for drill holes over an additional 270 meters of
strike length. All of the holes contain visual mineralization consisting of
quartz veins, stockworks, and breccias. Visible gold occurs in four of these
holes. These indications give a total current strike length to the zone of at
least 480 meters (from section 2350 to section 2830). The vertical range of the
mineralization (down-dip) is confirmed by assays for at least 65 meters and by
quartz veins with visible gold for an additional 135 meters. This gives a
minimum drilled vertical extent for the mineralization of more than 200 meters.
The zone is currently open along strike in both directions and down-dip
(vertical).

The new assay results for Quebrada Colorada are presented below:

QUEBRADA COLORADA  -- HOLE PP223

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
   Sample #                Interval (m)                     Bondar-Clegg              Geolab
                   From         To       Distance     Au (g/t)       Ag (g/t)        Au (g/t)
--------------------------------------------------------------------------------------------------
<S>                <C>      <C>          <C>          <C>            <C>             <C>
     129           256          258          2           34.7          889.2            38.5
     130           258          260          2          496.1        5,112.5           430.0
     131           260          262          2          178.1        2,440.5           170.0
     132           262          264          2           10.9          345.1            11.4

   Tot/Avg         256          264          8          180.0        2,196.8           162.5
   True width is approximately 4.5 meters
</TABLE>

<PAGE>   3


QUEBRADA COLORADA  -- HOLE PP224

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
   Sample #                Interval (m)                     Bondar-Clegg              Geolab
                   From         To       Distance     Au (g/t)       Ag (g/t)        Au (g/t)
--------------------------------------------------------------------------------------------------
<S>                <C>      <C>          <C>          <C>            <C>             <C>
     133           264          266          2          10.7          189.6            11.3
     134           266          268          2          42.0          359.8            40.8
     135           268          270          2           3.0          178.8             3.9
     136           270          272          2           3.9          254.0             4.2
     137           272          274          2         133.4        1,108.5           131.0
     138           274          276          2          71.4        1,087.6            61.8
     139           276          278          2          20.7          999.5            19.1
     140           278          280          2          32.2        1,408.7            16.5

   Tot/Avg         264          280         16          39.7          698.3            36.1
   True width is approximately 6.5 meters
</TABLE>

QUEBRADA COLORADA  -- HOLE PP225

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
   Sample #                Interval (m)                     Bondar-Clegg              Geolab
                   From         To       Distance     Au (g/t)       Ag (g/t)        Au (g/t)
--------------------------------------------------------------------------------------------------
<S>                <C>      <C>          <C>          <C>            <C>             <C>
     115           228          230          2             0.5           225.0            0.3
     116           230          232          2             0.5           790.0            0.5
     117           232          234          2             1.7         2,232.0            1.9
     118           234          236          2            28.5           668.7           38.6
     119           236          238          2         1,075.9         2,494.0        1,210.0
     120           238          240          2           488.1         1,587.7          556.0
     121           240          242          2           340.1         1,855.5          362.0
     122           242          244          2           125.8         1,044.5          141.0
     123           244          246          2            14.2           431.3           13.6
     124           246          248          2             4.6            27.8            3.9

   Tot/Avg         234          248         14           296.7         1,158.5          332.2
   True width is approximately 7.0 meters
</TABLE>

Because of the extremely high values being encountered, all samples have been
assayed several times. Also, additional check samples have been completed, with
more in progress, at a separate analytical lab. ITS Bondar-Clegg has completed
all of the results to date by standard fire assay methods with AA and
gravimetric finish at their lab in La Serena, Chile. The check samples have been
prepared and assayed using standard fire assay procedures and AA finish, with
gravimetric results to follow, by ALS Geolab S.A., at a separate facility in
Santiago, Chile.

For this release, given the magnitude of the results check values on the gold
are being reported. It is planned that future releases will not contain the
check sample results, as this results in a delay for reporting purposes.

The mineralization is above the water table and continues to consist of oxidized
quartz veins, breccias, and stockworks with local visible gold in a steeply west
dipping, north-south trending structure. This style and type of bonanza grade
mineralization being encountered is not atypical in strongly mineralized, low


<PAGE>   4

sulfidation vein systems throughout the world, and has historically contributed
to significant production from these types of deposits.

Presently, Meridian is planning to develop a separate production-size decline
into the Quebrada Colorada zone with the purpose of developing an underground
mine. Based on the information from the initial drilling, it appears the zone
would be amenable to the drift and fill mining methods to be used at Quebrada
Orito. The Company expects this zone to produce at a rate of 500-800 tonnes per
day by the first quarter of 2000.

Underground development costs at Quebrada Colorada are expected to be
approximately $5 million, and will be incremental to the initial capital
estimate in the feasibility study of $66.5 million to develop the Quebrada Orito
and Cerro Martillo deposits and to build the processing facilities. The impact
of this new zone may be significant in reducing cash costs at El Penon from the
earlier-announced $180 per ounce level and in dramatically increasing gold
production at El Penon from the 130,000 ounces per year outlined in the
feasibility study from Quebrada Orito and Cerro Martillo.

DONCELLA RESULTS
Recent follow-up drilling on the Doncella zone has intercepted a narrow,
high-grade structure. Hole PX074 encountered 56.4 g/tonne gold and 1,949.0
g/tonne silver over 2 meters at a depth of 272-274 meters. This is the highest
intercept to date on Doncella, and gold-silver ratios are similar to those being
seen at Quebrada Colorada. This new mineralization will be offset with
additional drilling.

Meridian Gold Inc. is a proven, exploration-oriented gold producer, led by a
strong management team committed to growth and possessing a healthy balance
sheet. The common shares of Meridian are traded on The Toronto Stock Exchange
(MNG) and the New York Stock Exchange (MDG).

------------------------------------------

Safe Harbor Statement under the United States Private Securities Litigation
Reform Act of 1995: Statements in this release that are forward-looking
statements are subject to various risks and uncertainties concerning the
specific factors identified above and in the corporation's periodic filings with
the Ontario Securities Commission and the U.S. Securities and Exchange
Commission. Such information contained herein represents management's best
judgment as of the date hereof based on information currently available. The
corporation does not intend to update this information and disclaims any legal
liability to the contrary.

For further information, please visit our website at www.meridiangold.com, or
contact:

     Wayne M. Hubert                Tel:  (702) 850-3730
     Investor Relations             Fax: (702) 850-3733
     Meridian Gold Inc.             E-mail: whubert@meridiangold.com
<PAGE>   5



                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

Date:  July 23, 1998                 MERIDIAN GOLD INC.

                                     By:    /s/ Brian J. Kennedy
                                        ---------------------------------------
                                        Brian J. Kennedy
                                        President and Chief Executive Officer