MIDAS MINERALS LTD — Capital/Financing Update 2022

Jan 24, 2022

ASX / MEDIA ANNOUNCEMENT 25 January 2022

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Gold and Nickel drill targets defined at Weebo

Drill rig booked and preparations underway for Q1 2022 drill campaign

Highlights

• Midas has now received assays for the remaining 8 RC holes from Weebo with results including:

Scone Stone Prospect

• Multiple 1m to 4m intercepts of 0.7g/t to 2.1g/t gold with the periphery of mineralisation previously reported (refer ASX 22 December 2021).

Otto Bore Prospect

• Significantly, the 6m at 0.7g/t gold from MDRC0021 at Otto Bore east, which only penetrated 11m of basement below cover, confirms an anomalous zone over 1.2km by >200m, where 8 prior holes[1 ] all intersected gold mineralisation.

• Midas has now received all assays from the initial 2,255 auger program completed in Q4 2021:

• Auger soil sampling is proving superior in clearly defining both gold and nickel anomalies compared to previous soil sampling results.

• Over 10 priority gold anomalies are now defined coincident with untested gold workings or wide-spaced historic RAB drill intercepts.

• The Warrida nickel auger geochemical anomaly, defines an extensive channelised ultramafic unit, north along strike from the ASX:NST-owned Waterloo and Amorac nickel deposits.

• Based on this early success, Midas will now follow up several targets defined by the maiden exploration programs with RC drilling, planned for Q1 2022.

Executive Director Nick Katris commented:

“Within four months of our ASX listing, the Company has undertaken significant exploration on the Weebo project and has successfully defined a good compilation of early-stage to advanced gold drill targets. In addition, several priority nickel targets have been identified for drilling.

“The Company is currently making final preparations for a program of deeper drilling to follow up these encouraging first-pass results, and to test the extensive gold and nickel geochemical anomalies defined from these latest auger results.

“We are well-funded to continue high-impact exploration and are excited to be in a position to continue our strong news flow in the coming months.”

1 Historic Weebo exploration drilling results refer to ASX:MM1 on 3 September 2021 – Prospectus – Appendix C – Independent Geological Report, Appendix B.

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Midas Minerals Limited | Ground Floor, 24 Outram St, West Perth WA 6005

P: +61 8 6283 6595 | E: info@midasminerals.com www.midasminerals.com

ASX / MEDIA ANNOUNCEMENT 25 January 2022

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Midas Minerals Limited ( “ Midas ”, or “ The Company ”) (ASX: MM1) is pleased to announce it has received remaining assay results from its auger geochemical sampling completed in October 2021 and aircore (AC) and reverse circulation (RC) drilling program, completed in November 2021, at its Weebo Gold Project ( Weebo ) in the Goldfields region of Western Australia.

EXPLORATION AND GEOLOGICAL DETAIL

WEEBO GOLD PROJECT

Drilling

Drilling focused on defining gold mineralisation at the Ockerburry, Scone Stone and Otto prospects (refer ASX releases on the 29 November 2021 and 22 December 2021 ), testing prospects located along strike and proximal to Northern Star Resources’ (ASX: NST) Thunderbox mine and Otto Bore gold deposit. Results were recently reported for seven RC holes (refer ASX 22 December 2021).

Midas’ program was successful in delineating significant gold mineralisation in several areas, all at shallow depths, including previously and current reported intercepts of:

Scone Stone Prospect[2]

• 6m @ 1.3g/t gold from 11m and 6m @ 4.4g/t gold from 54m

• 3m @ 6.7g/t gold from 43m including 1m @ 18.2g/t gold from 44m

• 7m @ 0.7g/t gold from 87m and 29m @ 1.1g/t gold from 98m including 16m @ 1.7g/t gold from 108m

Ockerburry 1 Prospect[2]

• 32m @ 0.7g/t gold from 40m including 6m @ 1.5g/t gold and 14m @ 0.7g/t gold from 52m.

• 4m @ 0.9g/t gold from 46m and 28m @ 0.6g/t gold from 66m, including 2m @ 3.1g/t gold from 66 and 3m @ 1.5g/t gold from 81m.

• 2m @ 18.4g/t gold from 8m.

• 6m @ 0.6g/t gold from 33m and 7m @ 0.9g/t gold from 45m.

• 4m @ 0.6g/t gold from 44m and 10m @ 0.8g/t gold from 70m including 1m @ 4.7g/t gold from 76m

Otto Prospect

• 6m at 0.7g/t gold from MDRC0021 - which only penetrated 11m of basement through transported cover.

Geochemical Sampling Wheel of Fortune

Midas has received assays for an additional 477 auger geochemical drill holes completed in the Wheel of Fortune area, selected for sampling based on the existence of historic gold workings and a lack of prior exploration. The shallow auger drilling, totalling 881 samples, completed on a nominal 200m by 20m grid was successful in defining strong gold anomalism proximal to and along strike of areas containing historic gold workings. Limited rock chip sampling by Midas (refer ASX announcement 25 October 2021) also returned significant gold results from several gold workings including 24.0g/t gold, 21.7g/t gold and 3.25g/t gold. The strong gold anomalism and the lack of prior exploration highlights the potential of the 2.4 km of strike, between the Wheel of Fortune South and Wheel of Fortune gold deposits.

2 Intercepts previously announced refer to the ASX on 22 December 2021.

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Table 1: Summary of Auger Gold Anomalies Wheel of Fortune

Anomaly	Strike length (m)	Peak gold ppb	Samples ≥10ppb Au	Comment
WOF1	300	35	23	Historic surface gold workings, 4 prior RAB holes – likely wrongdirection.
WOF2	<200	206	4	Wheel of Fortune workings, 1 prior drill hole.
WOF3	<200	20	5	Anomalous arsenic, no prior drilling.
WOF4	450	81	17	Wheel of Fortune Central workings, anomalous lead, no prior drilling. Rock chipsamples1upto 24g/tgold.
WOF5	<200	66	3	No prior drilling.
WOF6	800	43	5	No prior drilling.
WOF7	500	66	53	Wheel of Fortune South workings, anomalous arsenic. Rock chips samples* up to 21.7g/t gold, no recorded drilling.

*Refer to Midas, ASX announcement 25 October 2021.

Geochemical Sampling Sir Samuel

Midas has received assay results for all 1,374 shallow auger drill holes completed on the Sir Samuel Prospect soil grids sampled in the September quarter 2021 (refer ASX announcement 25 October 2021). The two areas were selected based on gold mineralisation intercepted in very wide-spaced prior RAB drilling completed on an 800m by 100m grid, and coincident lithological/structural targets identified from geophysics.

The shallow auger geochemical drilling completed on 200m by 20m and 200m by 40m grids was generally successful in penetrating transported cover or residual regolith with an estimated 90% of samples from insitu clays or saprock. The auger geochemistry assay results have enabled the interpretation of relatively coherent and robust gold anomalies that now represent excellent priority drill targets.

Table 2: Summary of Auger Gold Anomalies Sir Samuel

Anomaly	Strike length (m)	Peak gold ppb	Samples ≥10ppb Au	Peak gold RAB *drilling **	Comment
SS1	1,400	44	12	1.0g/t (1m)	Open to south MSR1250 6m@0.3g/tgold.
SS2	800	55	11	-	MSR0983 along strike, 1m @ 13.0g/t gold.
SS3	2,300	27	19	1.9g/t (1m)	Open to south and north.
SS4	500	20	3	0.4g/t (4m)	-
SS5	1,800	53	18	2.0g/t (1m)	Recent eluvial gold workings MSR2063 9m@0.4g/tgold.
SS6	800	43	5	0.02g/t (1m)	Recent eluvial gold workings.

*Refer to ASX:MM1 on 3 September 2021 – Prospectus – Appendix C – Independent Geological Report, Appendix B.

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ASX / MEDIA ANNOUNCEMENT 25 January 2022

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Sulphides Nickel Targets Emerging

Auger drilling has successfully refined the previously poorly defined 1.7km long ultramafic channelised flow unit, which is up to 400m wide, and where multiple A-B flows within the sequence are characterised by important lithological features including ortho-cumulate bases and well-developed spinifex textured flow tops. Prior limited exploration identified a main cut down channel with an apparent strike of at least 500m. This is now a priority nickel-sulphide drill target.

Auger drilling and recent geophysics has also successfully extended the ultramafic to a strike of at least 2.6km within the Weebo project. Auger drilling has identified at least two trends of elevated Ni, Cr, PGE and Cu, including one at the base of the overturned south-east plunging channel sequence.

Highly anomalous PGE associated with moderately anomalous Mg, Ni and Cu has been defined in a zone parallel to gold anomaly SS3. Platinoids are important pathfinders for the Waterloo deposit located 17km along strike to the south, and in other deposits in the region.

Weebo Agreement

Based on recent results Midas is pleased to report it has notified the vendors of the Weebo Gold Project that it has elected to extend its option for a further 12 months.

Under the Tenement Option and Acquisition Agreement, entered into on the 24 January 2021 (Option Agreement), Midas has paid a cash consideration of $60,000 ( Extension Payment ) to the vendors.

In consideration for the Extension Payment, the new option anniversary will be the 24 January 2023. At any time during the 12-month option period, the Company can acquire 100% of the tenements under option by making a cash payment of $600,000.

Next steps

Midas has identified a compilation of early and advanced stage gold and nickel drill targets on the Weebo project.

The Company is planning a program to follow up the three more advanced gold prospects, Scone Stone, Ockerburry and Otto with a larger capacity RC drill rig, capable of penetrating deeper into bedrock.

The Company is also planning to drill additional gold and nickel targets generated from recent geochemical and geophysical surveys.

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ASX / MEDIA ANNOUNCEMENT 25 January 2022

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Figure 1: Weebo Gold Project auger traverse and drill hole locations as at 25 January 2022.

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Figure 2: Wheel of Fortune North auger gold anomalies as at 25 January 2022.

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Figure 3: Wheel of Fortune South auger gold anomalies as at 25 January 2022.

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Figure 4: Sir Samuel auger gold anomalies as at 25 January 2022.

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Figure 5: Sir Samuel North gold and Warrida nickel auger anomalies as at 25 January 2022.

ENDS

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ASX / MEDIA ANNOUNCEMENT 25 January 2022

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This release was authorised by the Board of Midas Minerals Limited.

For more information:

Nick Katris Nathan Ryan Executive Director Media / Investor Relations E: info@midasminerals.com E: nathan.ryan@nwrcommunications.com.au

About Midas

Midas Minerals is a junior mineral exploration company listed on the ASX on 7 September 2021. Midas is based in Western Australia, targeting economic mineral deposits.

Midas’ primary focus is gold; however, our projects are prospective for nickel, platinoids, copper, nickel, base metals, silver and lithium.

The Company has three projects located in the Leinster, Leonora, and Mt Magnet areas of Western Australia. Midas’ projects, Weebo, Challa and Sunset, have prospective areas that remain essentially unexplored due to prior fragmented or private ownership. All projects are proximal to infrastructure and within 60km of mining towns and processing plants.

Midas’ Board and management have extensive experience in mineral discovery and a proven track record of significant gold discoveries and mine development.

Forward Looking Statement

Statements regarding Midas’s plans, forecasts and projections with respect to its mineral properties and programmes are forward-looking statements. There can be no assurance that Midas’s plans for development of its mineral properties will proceed. There can be no assurance that Midas’s will be able to confirm the presence of Mineral Resources or Ore Reserves, that any mineralisation will prove to be economic or that a mine will be successfully developed on any of Midas’s mineral properties. The performance of Midas’s may be influenced by a number of factors which are outside the control of the Company, its directors, staff or contractors.

Competent Person's Statement

The information in this announcement that relates to Exploration Results is based on and fairly represents information and supporting documentation prepared by Mr Mark Calderwood, a consultant of the Company. Mr Calderwood is a Competent Person and is a member of the Australasian Institute of Mining and Metallurgy. Mr Calderwood has sufficient experience relevant to the style of mineralisation under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Calderwood consents to the inclusion in this announcement of the matters based on his information and supporting documents in the form and context in which it appears.

Mr Calderwood is a shareholder of the Company and the Company does not consider this to constitute an actual or potential conflict of interest to his role as Competent Person due to the overarching duties he owes to the Company. Mr Calderwood is not aware of any other relationship with Midas which could constitute a potential for a conflict of interest.

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ASX / MEDIA ANNOUNCEMENT 25 January 2022

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APPENDIX A: DRILLING RESULTS

Table 3: Summary of Reverse Circulations Drill Intercepts

Prospect	Hole ID	Depth (m)	From (m)	To (m)	Intercept (m)	Au (g/t)
Scone Stone	MDRC0015	125	82	83	1	1.72
			96	97	1	1.27
Scone Stone	MDRC0016	119	8	10	2	0.38
			19	21	2	0.41
			66	67	1	0.79
			96	100	4	0.74
		Incl.	96	97	1	2.06
Scone Stone	MDRC0017	122	55	56	1	0.57
			61	62	1	0.49
			83	84	1	0.46
Scone Stone	MDRC0018	125	81	82	1	1.02
			95	96	1	1.66
			103	104	1	0.70
			108	109	1	1.99
Otto	MDRC0019	77	NSI
Otto	MDRC0020	77	NSI
Otto	MDRC0021	116	108	114	6	0.73
		Incl.	109	112	3	1.12
Otto	MDRC0022	98	NSI

Notes

1) NSI denotes - no significant intercepts

Refer to JORC tables 1 and 2

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APPENDIX B: JORC CODE 2012 EDITION - TABLE 1 FOR EXPLORATION RESULTS

Section 1 Sampling Techniques and Data

Criteria	JORC Code Explanation	Commentary
Sampling techniques	• Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representativity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	All drilling and sampling was undertaken in an industry standard manner Reverse circulation (RC) holes at Weebo were sampled on a 1m basis with samples collected from a cone splitter mounted on the drill rig cyclone. 1m samples ranged from 2.0-3.5kg. The independent laboratories pulverised the entire samples for analysis as described below Industry prepared independent standards were inserted approximately 1 in 19 to 1 in 29 samples. Field duplicates were inserted 1 in 19 samples. Sample sizes are considered appropriate for the material sampled. The samples are considered representative and appropriate for the types of drilling. RC samples are appropriate for use in a mineral resource estimate. Auger geochemical samples comprise <0.5kg of ---2mm auger drill cutting collected at the drill hole collar. Auger holes. One sample was collected per auger hole, field duplicates were taken at intervals of 1:20 holes
Drilling techniques	• Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc.).	RC drilling - utilising 121mm face sampling DTH hammer and inter-tube reverse circulation sample return.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	RC samples were visually assessed for recovery. Samples were generally considered representative with acceptable recovery. Any intervals having less than optimal recovery or possible contamination were recorded. No sample bias was observed.

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Criteria	JORC Code Explanation	Commentary
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography • The total length and percentage of the relevant intersections logged.	The entire holes were geologically logged. Logging is qualitative in nature. RC sample logging is appropriate for use in a resource estimation.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is • representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of • the material being sampled.	RC sampling at Weebo was, carried out by a cone splitter on the drill rig cyclone and drill cuttings were sampled at 1m intervals. Industry prepared independent standards were inserted approximately 1 in 19 to 1 in 29 samples. Field duplicates were inserted 1 in 19 samples. Sample sizes are considered appropriate for the material sampled. The entire samples were dried, jaw crushed and a 1kg sub sample pulverised. Pulps were split for analysis. Aurum Laboratories has internal QA/QC procedures to ensure a representative sample. The entire samples were dried, jaw crushed and the whole sample pulverised. Pulps were split for analysis. Aurum has internal QA/QC procedures to ensure a representative sample. The samples are considered representative and appropriate for the methods of drilling. The RC samples are appropriate for use in a resource estimation. The auger geochemical samples dried, jaw crushed and the whole sample pulverised. Pulps were split for analysis. Bureau Veritas has internal QA/QC procedures to ensure a representative sample.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	The samples were submitted to commercial independent laboratories in Perth, Australia. At Aurum Laboratories a 50 gram sample weight was fire assayed with lead collection and the resultant prill after digest read for gold to 0.01 parts per million. The auger geochemical samples were analysed by ICP Optical Emission Spectrometry and Mass Spectrometry for Au (Aqua Regia), As, Cr, Cu, (MS), Li, Mo, Ni, Mg, Fe ICP, Pb, Pt, Sb, Ta, Zn, (MS). Selected samples were fire assayed for Au, Pt, Pd. The techniques are considered quantitative in nature. As discussed above certified reference standards were inserted by the Company and the laboratory also carries out internal standards in individual batches. Based on QA/QC, assays were considered satisfactory. Field duplicates provide an indication of sample variability associated with sampling techniques and coarse gold. No alarming results were received from field duplicates.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	Results have been uploaded in digital datasheets prepared by consulting geologists prepared on site. The results have been checked and verified. No adjustments have been made to assay data. Results are reported on a length weighted basis.

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Criteria	JORC Code Explanation		Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.		All locations have been presented in zone 51 GDA 1994 MGA. RC and Auger hole locations are currently located using handheld GPS to an accuracy of 3m. DGPS surveying will be undertaken of RC holes prior to use in a resource estimate. RL have not been currently recorded and will require DGPS or similar level of survey accuracy. The terrain drilled is nominally flat.
			Hole ID	Easting	Northing	Depth (m)	Azimuth	Decl.	Cover (m)
			MDRC0015	305303	6908183	125	95	-60	9
			MDRC0016	355262	6908183	119	96	-58	9
			MDRC0017	305224	6908181	122	90	-58	9
			MDRC0018	305184	6908182	125	90	-60	9
			MDRC0019	305225	6894858	77	92	-58	16?
			MDRC0020	305180	6894860	77	92	-58	43?
			MDRC0021	305968	6894460	116	92	-57	105
			MDRC0022	305805	6894461	98	91	-57	73?
			Cover refers to minimum interpreted down hole depth of transported sediments.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.		The RC data spacing for Weebo was generally 40m x 160m, is not sufficient for Mineral Resource and Ore Reserve estimation. Sample compositing has not been applied for RC drilling except in reporting of drill intercepts. . Auger drill holes: spacing was generally 200m by 20m. Average hole depth was 1.27m
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.		Drilling is believed to be approximately perpendicular to the strike of mineralisation and the dip of mineralisation is anticipated to be near vertical or steeply to the west. All holes were drilled at about -60 degrees to the east. Drill hole orientation may have exaggerated intercept intervals and may have resulted in mineralised structures being missed. Given the early stage of exploration the CP is satisfied that determining the true width of mineralised intercepts is not as critical as defining areas containing anomalous results for further exploration. Future follow-up drilling should focus on understanding the orientation of mineralised structures.
Sample security	• The measures taken to ensure sample security.		Samples were collected by consultants and company personnel and delivered direct to the laboratory via a transport contractor.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.		No audits or reviews of sampling techniques has been undertaken. A review of sample QA/QC is routinely undertaken on receipt of assays.

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Section 2 Reporting of Exploration Results

Criteria	JORC Code Explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	Weebo Project: Exploration licences E36/792, E36/797, E36/798, E36/811, E36/845, E36/846, E36/860, E36/934, E36/952 and prospecting licence PL36/1878 located east of Leinster in Western Australia. The Company has entered into an agreement pursuant to which it has the option to purchase 100% legal and beneficial ownership of the foregoing tenements, subject to satisfying a cash payment of $600,000 and granting a 1.5% gross revenue royalty payable to the vendors. Following completion, the Company will assume responsibility for the payment of the State Government royalty. All tenements are in good standing. There are no registered native title interests, wilderness areas, national park or environmental impediments (other than usual environmental and rehabilitation conditions on which the granted tenements have been granted) over the outlined current areas. There are no current impediments to obtaining a license to operate in the project areas. There are several registered heritage sites covering limited areas within the Weebo Project including part of the Otto prospect.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	This report refers to prior exploration results. The prior exploration is comprehensively referenced in the Independent Geologists Report and Appendices within the Midas Prospectus of 3 September 2021.and Midas announcement 22 December 2021
Geology	• Deposit type, geological setting and style of mineralisation.	The Weebo Project is located within the Yilgarn Craton, the project overlies a NW to North trending sequence of Archaean greenstones that form part of the Norseman- Wiluna Greenstone Belt of the Kalgoorlie Terrane. The greenstone sequence in the project area comprises tholeiitic and high-magnesian basalts, felsic volcanics, interflow sediments including chert, shale and iron formation, mafic intrusives and ultramafic rocks. The Project is prospective for shear and vein hosted gold mineralisation and ultramafic hosted nickel sulphide mineralisation Transport Tertiary to Permian sediments are common, a significant number of the auger geochemical samples may be from within transported Wiluna hard pan regolith.
Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Table 3 and Appendix B Section 1 contain details of RC drill collar location and drill hole directional details Table 3 contains summaries of intercepts for all holes. Relative level information is not included and remains pending DGPS survey. All co-ordinates refer to GDA1994 MGA Zone 51.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.	RC intercepts are reported to a minimum cut-off of 0.4g/t gold with an internal dilution of 4m maximum.

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Criteria	JORC Code Explanation	Commentary
	• Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	Intercepts of less of greater than 0.2g/t gold are included if they include values of at least 0.4g/t gold. Any higher-grade intervals exceeding 2g/t within a broad lower grade interval are reported as subintervals. Intercepts are length weighted averaged. No maximum cuts have been made
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	The relationship between intercept widths and true widths is unknown.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Figures 2, 3, 4 and 5 show auger sample locations and relative locations of prior drilling (subject to limitations on positioning of prior collars). Indicative cross sections for RC and AC drilling have been included in ASX announcement dated 22 December 2021.
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Co-ordinates for all RC holes are included in Tables 3. For those areas reporting is comprehensive. All auger geochemical sample sites are plotted on Figures 2 to 5, values ≥5ppb Au are considered anomalous if supported by neighbour samples. Individual values above 10ppb Au plotted
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	All relevant and material exploration data for the target areas discussed, has been reported. Areas containing deeper transported cover and saprolite may remain poorly tested, holes. Indications of the depth of transported cover is included in Appendix B Section 1
Further work	• The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Further drilling is warranted across the tenements to improve the understanding of the mineralisation. All relevant diagrams have been incorporated in this report.

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