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HAMMER METALS LIMITED Capital/Financing Update 2007

Sep 25, 2007

65065_rns_2007-09-25_c4f8776a-e95b-4cc4-a4b4-8c1b5098ff1d.pdf

Capital/Financing Update

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ASX Release ASX Code 26 September 2007 MDS

The Manager Company Announcements Office ASX Limited

Midas Resources Limited Closes Share Purchase Plan

Midas is pleased to advise that the Share Purchase Plan ( SPP ) announced on 4 September 2007 raised $1 million, including $533,000 from existing shareholders with the balance provided by the underwriter, Patersons Securities Limited.

Midas will issue a total of 11.36 million shares under the SPP at 8.8 cents per share. The issue price, calculated in accordance with the terms and conditions of the SPP, reflects the 20% discount to the volume weighted average sale price of Midas shares on ASX during the period from 19 September 2007 to 25 September 2007 (inclusive).

The shares will be allotted today and the Company expects to despatch holding statements shortly.

Midas Resources Limited

Phillip MacLeod Company Secretary