HAMMER METALS LIMITED — AGM Information 2013

Nov 6, 2013

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7 November 2013

Exploration Proposal – Mt Isa Region, Copper-Gold Projects

As previously announced, Midas Resources Limited (“ Midas” or “the Company” ) has entered into a Sale and Purchase Agreement ( “SPA” ) with Hammer Metals Limited ( “Hammer” ), pursuant to which Midas will acquire all of the issued capital in Hammer, as well as all of the issued capital of Mount Dockerell Mining Pty Ltd ( “MDM ”), a wholly owned subsidiary of Santana Minerals Limited (ASX: SMI) ( “Santana” ).

The completion of this acquisition is subject to shareholder approval which is being sought at the Company’s upcoming Annual General Meeting to be held on Tuesday the 19th of November at 9am at 52 Ord Street West Perth.

The Board believe that the proposed acquisitions, as described in detail in the Notice of Annual General Meeting provide an exciting new opportunity for growth for your Company and recommend that Shareholder’s vote in favour of the resolutions set out in the Notice.

An outline of both the strategy and the exploration potential of the Mt Isa projects is attached.

Shareholders are encouraged to attend the meeting, which also provides an opportunity to meet your company’s directors.

Regards Alexander Hewlett

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Executive Director.

MIDAS RESOURCES LIMITED

ABN. 87 095 092 158

Queensland exploration proposal

Mount Isa Region: Blueprint for a Mining Hub. november 2013

Note: The properties, the subject of this presentation, are not currently owned by Midas Resources Limited (Midas). The Company has entered into a Sale and Purchase Agreement to acquire 100% of the issued capital of Hammer Metals Limited (“Hammer”) and Mt Dockerell Mining Pty Ltd (“MDM”). The agreement is subject to Midas shareholder approval. The principal assets of both Hammer and MDM are the Mt Isa Projects, Mount Morgan Projects and the Kalman Projects.

MOUNT ISA PROJECT OVERVIEW

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Major land position located in the Mount Isa province “sandwiched” between several major players including;

• Glencore Xstrata (Mount Isa, E1, Ernest Henry)

• BHP Billiton (Cannington)

• Inova (Osborne, Merlin, Mt Elliott)

• CopperChem (Mt Colin, Cloncurry)

• Cudeco (Rocklands)

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MOUNT ISA REGION DRILL TARGETS

Objective: To create a mining hub centred on the Kalman deposit.

How: To define a number of resources within close trucking distance of Kalman.

Priority Drill Targets

• Kalman

• Overlander

• Andy’s Hill

• Pelican

• Pindora South

• Tiny Boot

• Serendipity

• Python

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KALMAN

Multiple areas for the current resource to be extended, key areas include;

• Northern Fault offset target mineralisation.

• High grade Cu open at depth and to South (including 9m @ 20%Cu, 0.47g/tAu from 581m)

• High Grade Mo open at depth and to South.

• Anomalous Cu and Mo

geochemistry extending to Python (12km to the south).

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• Copper equivalent grade is based on copper, gold, silver and cobalt.

• The copper metal equivalent calculation is based on a copper price of $US8,340/t, gold price of $US1,300/oz, silver price of $US23.66/oz and a cobalt price of $US21/lb.

• Grade and price units are converted to percent and tonnes respectively. The sum product is calculated and then divided by the copper price to arrive at a copper equivalent grade.

• The metals included in the equivalent calculation have a reasonable potential to be recovered although definitive metallurgical testwork has only been conducted on copper at this stage of the Kalman project’s development.

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OVERLANDER

• Shallow RC drilling has identified

• 2 zones of high grade Cu, Co and Au close to surface.

• Best sections and plan view shown opposite. Including;

• 13m @ 2.2%Cu from 43m in DDH01 and

• 15m @ 2.2%Cu from 9m in N12.

• Proposed RC Drill program aims to define open pit resource.

• 6 Km from Kalman.

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• Untested magnetic high (IOCG target)

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ANDY’S HILL

• Magnetic anomalies (IOCG copper targets) at Overlander and Andy’s Hill prospects

• Extensive Red Rock alteration with broad zone of copper anomalism in drilling

• 8Km West from Kalman

• Off-hole EM Conductor to be tested

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PELICAN

• Kalman - style copper-gold in previous drilling.

• 3km South of and directly along strike from Kalman.

• Open-pit potential.

• RC drilling proposed.

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PINDORA SOUTH

• Systematic rockchips over 950m averaging 3%Cu and 0.6g/tAu.

• 5.5Km South East of Kalman.

• Along strike of Pindora copper mine.

• RC Drilling proposed to test Cu, Au anomaly.

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TINY BOOT

• 250m copper gossan at surface.

• 1.6Km along strike from Chinalco Ltd’s new discovery “Elaine no 3”.

• 5km south of CopperChem Ltd’s Mount Colin.

• 25Km North from Kalman.

• VTEM survey planned.

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SERENDIPITY / PYTHON

• Extensive gold in soil anomalies on the Pilgrim Fault.

• 25m @ 0.5g/t Au from 137m in drillhole at Serendipity.

• Shallow drilling to test the extent of mineralisation.

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COMPETENT PERSONS STATEMENT

The information in this Notice that relates to Mineral Resources and Exploration Results is based on information compiled by Mr Russell Davis who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Davis is a director, shareholder and optionholder of Hammer Metals Limited. Mr Davis has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ Mr Davis consents to the inclusion in this Notice of the matters based on his information and information presented to him in the form and context in which it appears.

The information in this Notice as it relates to Mineral Resources and Exploration Results was reviewed by Mr John Downing, who is a Member of the Australian Institute of Geoscientists and a full time employee of Midas Resources Limited. Mr Downing has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Downing consents to the inclusion in the Notice of the matters based on the information in the form and context in which it appears.

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