PILBARA IRON ORE PROJECTS

Midas Resources has acquired a package of highly prospective iron ore tenements in the Pilbara District and has an active exploration program of drilling and assessment under way in 2010.
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LAKE CAREY PROJECT - WA


The Company's 100% owned Lake Carey gold project is situated in the Laverton Tectonic Zone in Western Australia's North Eastern Goldfields. The project includes the Fortitude gold deposit and adjacent satellite deposits, where the JORC compliant estimate (Indicated + Inferred) of total Mineral Resources stands at 9.068 million tonnes grading 1.6 g/t (473,000 ounces of contained gold) at an 0.5 g/t Au cut off grade.

The resource was estimated by RSG Global (now Coffey Mining) using Multiple Indicator Kriging based on a 3mE x 6mN x 2.5mRL Selective Mining Unit and reported in the ASX release of 31st June 2007.

This strategically located project is just 35 km by exisiting road from Anglogold Ashanti's Sunrise Dam mining operation (past production and current resources total ~8.0 million contained ounces). Midas is currently undertaking studies into the most efficient and cost effective method of mining and treatment for the Fortitude gold deposit.

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PATERSON PROJECT

Midas has applied for seven Exploration Licences (E45/3506 – E45/3510 and E45/3467 and E45/3468) in the Paterson Province, Western Australia, covering key sections of the highly prospective Yeneena Group sediments that are host to copper deposits at Nifty and at Maroochydore. The exploration target involves potential for “world class” copper deposits of the Zambian Copper Belt type and Mt Isa type Cu-Zn-Pb deposits.
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