Midas Resources Limited is a Perth based exploration and development
company with a significant gold project at Lake Carey in the world class
Laverton District of Western Australia and a porphyry copper-molybdenum
project at Connors Range in Queensland.

The Lake Carey gold project contains the Fortitude gold deposit of 473,000oz
at 1.6 g/t Au at an 0.5 g/t cut off grade or 388,000oz @ 2.4 g/t Au at a 1.0 g/t
Au cut off grade. Significant drill hits have recently been obtained at the
nearby Bindah project (8m @ 10.6 g/t Au from 116m) and at Intrepid
(9m @ 1.1 g/t Au from 78m) also within the Lake Carey tenements.

The Company is currently carrying out pre-feasibility work on the Fortitude
deposit and aggressively exploring the other gold prospects at Lake Carey
with the objective of expanding the gold resource base to a level that will
justify a stand-alone mining and treatment operation. Midas has evaluated
the feasibility of trucking 75km to local treatment facilities and determined
that a stand-alone operation offers greater flexibility for multiple mining
operations and the efficient extraction of resources. A resource base of one
million ounces has been targeted at Lake Carey.

At Connors Range Midas is evaluating the Waitara copper-molybdenum
porphyry and in China Midas has a cooperative joint venture with Geological
Brigade 405 exploring for copper, gold, nickel and platinum over a 700km 2
area.