HAMMER METALS LIMITED — Capital/Financing Update 2012

Nov 20, 2012

ASX Announcement ASX Code: MDS ABN 87 095 092 158 21 November, 2012

Diversified mining and metals company Midas Resources (ASX: MDS ) is a gold and copper focussed company with an advanced gold project at Lake Carey south of Laverton where the Company is carrying out a scoping study on the Fortitude gold deposit. Midas also has an active gold exploration program at Lake Carey testing various targets. In the multi-metal Paterson Province Midas is preparing to diamond drill-test a number of geophysical targets for IOCG and Nifty style copper deposits.

Key Projects:

• Paterson Province (100%)

• Lake Carey (100%)

• Leonora Gold Project (100%)

LISTED OPTION EXPIRY

Resources developer, Midas Resources Limited (“Midas” or “the Company”) (ASX: MDS) provides notice of the impending expiry of a class of listed options with an exercise price of 3 cents.

As a result of the significant difference between the exercise price and the current market price of the Company’s ordinary listed shares, a notice in accordance with Appendix 6A of the ASX Listing Rules will not be sent to all registered holders, if there is a price movement in the Company’s ordinary shares to within ¾ of the exercise price of the options between today’s date and the option expiry date the Company will send a notice to the relevant option holders.

The Company has not complied with the correct notice period set out in clause 6.1 of Appendix 6A, however the Company provides the following information:

• a) There are 289 registered holders of MDSOC listed options;

Corporate Structure

Shares on issue	525.8m
Listed Options	47.90m
Performance Options	2.07m
52 week high	A$0.017
52 week low	A$0.006

• b) There are 47,988,933 options over ordinary shares;

• c) The exercise price of these options is 3 cents;

• d) The due date for payment is 5pm AWST Friday, 30[th] November 2012

• e) If you are a registered holder and you DO NOT wish to exercise your options then you need to nothing. The consequence of doing nothing will be that the options will lapse on close of business 30[th] November 2012;

• f) This class of listed option will cease to be quoted by ASX at close of market on Friday 23[rd] November 2012;

• g) At close of trade yesterday 20[th] November 2012, the market price for ordinary shares in the Company was 0.8 cents;

Company Directors

John Hopkins Chairman

Geoff Balfe Managing Director

Terry Streeter Non-Executive Director

Company Secretary Mark Pitts

• h) The highest price for shares in the Company over the preceding 3 months was 1.7 cents on 26 September 2012 and the lowest was 0.7 cents on 1 November 2012;

• i) N/A

• j) N/A

There is no obligation on registered option holders to exercise their options, however if you have any queries please contact the Company Secretary on 08 9388 2211.

For and on behalf of the Board of Midas Resources Limited

Mark Pitts Company Secretary

MIDAS RESOURCES LIMITED | ABN 87 095 092 158 Level 1 282 Rockeby Road Subiaco WA 6008 | PO Box 356 Subiaco WA 6904 T +61 8 9388 2211 | F +61 8 9388 2600 | www.midasresources.com.au