MIDAS MINERALS LTD — Capital/Financing Update 2023

Aug 3, 2023

ASX / MEDIA ANNOUNCEMENT 4 August 2023

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ISSUE OF SHARES AND CLEANSING NOTICE

Further to its ASX release on 7 June 2023, Midas Minerals Ltd (“Midas”, or “the Company”) ( ASX: MM1 ) has today issued a total of 1,058,825 fully paid ordinary shares (“Placement Shares”) to the Directors (or their respective nominees) at an issue price of $0.17 each to raise a total of $180,000 before costs, following receipt of shareholder approval at the general meeting held on 26 July 2023.

Midas also advises that a total of 2,500,000 Performance Rights issued to the Directors in 2022 have vested and been converted to fully paid shares today.

Cleansing Notice

Midas issued the Placement Shares without disclosure to investors under section 708A(5) of the Corporations Act 2001 (Cth) (“Act”). With reference to the Placement Shares issued, in accordance with section 708A(6) of the Act, the Company gives notice under paragraph 708A(5)(e) that:

1. the Placement Shares were issued without disclosure under Part 6D.2 of the Act; and

2. as at the date of this notice:

   • a. the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company;

   • b. the Company has complied with sections 674 and 674A of the Act; and

   • c. there is no excluded information within the meaning of sections 708A(7) and 708A(8) of the Act which is required to be disclosed under section 708A(6)(e) of the Act.

The Board of Midas Minerals Ltd authorised this release.

For more information:

Mark Calderwood Managing Director E: mcalderwood@midasminerals.com

Nathan Ryan

Media / Investor Relations E: nathan.ryan@nwrcommunications.com.au

LEGAL*58475620.1 Midas Minerals Limited | Level 2, 8 Richardson Street, West Perth WA 6005 P: +61 8 6383 6595 | E: info@midasminerals.com www.midasminerals.com