HAMMER METALS LIMITED — Capital/Financing Update 2003

Feb 20, 2003

MARKET RELEASE

21 February 2003

MIDAS RESOURCES LIMITED

ADMISSION TO OFFICIAL LIST

Midas Resources Limited was admitted to the Official List of Australian Stock Exchange Limited on Friday, 21 February 2003.

Official Quotation of the following securities will commence at 12.30 pm E.D.S.T. (9.30 am W.S.T.) on Tuesday, 25 February 2003.

45,576,425

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ordinary shares fully paid issued at \$0.20 per share

18,638,375

options exercisable at 25 cents each on or before 1 December 2006

Security Code:

MDS MDSO

Brendan O'Hara Manager Companies

COMMENCEMENT OF OFFICIAL QUOTATION - MIDAS RESOURCES LIMITED

Midas Resources Limited was admitted to the official list of Australian Stock Exchange Limited on Friday, 21 February 2003.

Official quotation of the following securities will commence on Tuesday, 25 February 2003.

Quoted securities:	45,576,425 ordinary shares fully paid ("Shares")
	18,638,375 options exercisable at 25 cents each on or before 1 December 2006 ("Options")
ASX Code:	MDS ("Shares")
	MDSO ("Options")
Time:	12.30 E.D.S.T. (9.30 W.S.T.)
SEAT Abbreviation:	MIDAS RES
ISIN:	AU000000MDS4 ("Shares")
	AU00000MDSO0 ("Options")
Home Branch:	Perth
Industry Classification:	151040 Metals & Mining
Registered Office:	Level 1, Chart House
	1200 Hay Street
	WEST PERTH WA 6005
	Phone: (08) 9481 5311
	Facsimile: (08) 9481 5611
	www.midasresources.com.au
Company Secretary:	David Lymburn
Share Registry:	Advanced Share Registry Services
	Level 7, 200 Adelaide Terrace
	PERTH WA 6000
	Phone: (08) 9221 7288
	Facsimile: (08) 9221 7869

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Broker to Issue:	Hartleys Limited
	Level 7, Hartleys Building
	141 St George's Terrace
	PERTH WA 6000
Balance Date:	30 June
CHESS:	Participating. The Company will also operate an issuer sponsored subregister.
State of incorporation:	Western Australia
Restricted securities:	Refer to below
Dividend Policy:	Refer to page 109 of the prospectus dated 20 January 2003
Activities:	Gold exploration

The following securities are not quoted and are classified as restricted securities for a period of 24 months from 25 February 2003:

3,637,298 Shares

24,074 Options

1,600,000 options exercisable at 20 cents each on or before 31 December 2005

500,000 options with 250,000 exercisable at 27.5 cents each and 250,000 exercisable at 35 cents each on or before 1 December 2006

5,071,529 options exercisable at 20 cents each on or before 1 March 2006

The following securities are not quoted and are classified as restricted securities for a period of 12 months from the date of issue:

10,750,000 Shares issued on 20 February 2003

146,250 Shares issued on 18 November 2002

659,629 Shares issued on 14 November 2002

242,185 Shares issued on 2 December 2002

19,199 Shares issued on 15October 2002

2,000,000 Options issued on 20 February 2003

73,125 Options issued on 18 November 2002

329,815 Options issued on 14 November 2002

121,093 Options issued on 2 December 2002

300,000 options exercisable at 20 cents each on or before 31 December 2005 issued on 19 August 2002

The Company will also have the following securities on issue which will not be quoted:

5,133,616 options exercisable at 20 cents each on or before 1 March 2006

ASX Contact:	Christine Panetta
Business Unit	Companies Perth
Ext.No:	6014
Date:	21 February 2003