MIDAS MINERALS LTD — Capital/Financing Update 2023

Jul 12, 2023

ASX / MEDIA ANNOUNCEMENT 13 July 2023

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Greenbush and Barbara Lake Lithium Projects, Ontario, Canada

Spodumene pegmatites return up to 3.82% Li2O

Highlights

• Results received from 18 rock chip samples collected on MM1’s Greenbush and Barbara Lake Lithium Projects in Ontario, Canada

• Results up to 3.82% Li2O at Greenbush project from in situ spodumene pegmatite

• Fractionated in situ pegmatite samples 1.7km SSW of main Greenbush outcrop highlight a prospective LCT corridor, demonstrating regional upside potential

• Spodumene identified at Barbara Lake project for the first time with results up to 2.26% Li2O from detrital pegmatite, with all pegmatite samples favourably fractionated

• Midas is planning further mapping and sampling campaigns at Greenbush and Barbara Lake in parallel to seeking drilling permits

• Results pending for 330 assays from sampling at Yellowknife Lithium Project, Northwest Territories, Canada, with initial results expected later this month

Managing Director Mark Calderwood commented:

“From the limited outcrop and now the results of our reconnaissance sampling, we believe we have identified a prospective corridor for LCT pegmatites at Greenbush extending for at least 1.7km. Further mapping is planned south of the Greenbush Lake fault in an area with a similar geological setting to GT1’s Root Lithium Project. This is happening in parallel to Midas seeking drill permits.

“The Barbara Lake Project is located in a known spodumene province and given we have now confirmed the presence of spodumene and identified widespread favourable fractionation within detrital pegmatite samples, it is considered highly encouraging for the project to be an extension to the Jackpot pegmatite swarm north of Barbara Lake, which is being explored by Imagine Lithium.”

Midas Minerals Ltd (“Midas”, or “the Company”) ( ASX: MM1 ) is pleased to announce the latest assay results from initial mapping and sampling at the Greenbush and Barbara Lake Lithium Projects in Ontario, Canada.

Greenbush Lithium Project

Assay results from the 11 pegmatite surface samples collected during a reconnaissance field visit to the Greenbush Lithium Project in May (refer to ASX release dated 14 June 2023) have returned high lithium values from the known 15m wide spodumene pegmatite at the main outcrop ( 3.82% Li2O ) and from a detrital pegmatite sample collected 150m to the east ( 2.21% Li2O ).

Further samples (GRK010 and GRK011) from sparse pegmatite outcrop located 1.7km SSW of the main pegmatite outcrop also returned anomalous tantalum (Ta), tin (Sn), caesium (Cs), beryllium (Be) and rubidium (Rb). The potassium to rubidium ratios appear to be favourable (refer to Table 1 in Appendix A), making the area highly prospective for hosting lithium-bearing pegmatites.

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

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Midas’ recent exploration at Greenbush focused on obtaining an understanding of the geology of the documented large spodumene-bearing pegmatite outcrop, and locating and sampling additional pegmatite outcrops. A more comprehensive mapping and sampling campaign is proposed to assess a large swarm of pegmatites located on the southern portion of the tenement group, in parallel with Midas commencing drill permitting for the known spodumene-bearing pegmatite area.

The 102km[2] Greenbush Lithium Project is located ~12km east of Highway 599, about 95km north of Savant Lake and 70km south of Pickle Lake in the Thunder Bay district, Ontario (refer ASX release dated 28 March 2023). Green Technology Metals’ (ASX: GT1) Root Lithium Project is 80km to the east of Greenbush, which straddles the boundary between the English River and Uchi sub-provinces.

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Figure 1: Location of samples at Greenbush Lithium Project, Ontario.

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Barbara Lake Lithium Project

At the Barbara Lake Lithium Project, Midas has received results from its initial on-ground reconnaissance mapping and sampling, with two spodumene-bearing detrital pegmatites identified and sampled ( 2.26% and 1.49% Li2O ). This is the first time spodumene has been identified on the Barbara Lake project, which has not previously been the focus of lithium exploration. Four of the remaining samples are anomalous in Ta, Sn, Be and have favourable K:Rb ratios (refer to Table 2 in Appendix A), important evidence that the pegmatites have been favourably fractionated in the area.

Midas intends to undertake further mapping following receipt of a planned LiDAR survey and high-resolution photography.

The 2.1km[2] Barbara Lake Project is located 35km northeast of Nipigon, about 130km northeast of Thunder Bay, Ontario. It forms part of the tenement package optioned with the Greenbush Project. The project area falls within an active lithium province, surrounded by Imagine Lithium Corps’ (TSX-V:ILI) Jackpot Project and is about 15km south of Rock Tech Lithium Inc’s (TSX-V:RCK) Georgia Lake Project.

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Figure 2: Locations of samples at Barbara Lake Lithium Project, Ontario.

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Figure 3: Location of Midas Minerals Ltd’s lithium projects in relation to other lithium projects in the Thunder Bay area, Ontario, Canada.

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

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About Midas

Midas Minerals is a junior mineral exploration company with a primary focus on lithium and gold. Midas’ Board and management has a strong track record of delivering value for shareholders through mineral discoveries and mine development and growing microcap explorers into successful ASX100-ASX300 companies. The Company has three projects located in Western Australia (refer below), as well as the Greenbush and Barbara Lake Lithium Projects in Ontario, Canada and the Yellowknife Lithium Project, in the Northwest Territories, Canada.

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Midas Minerals Western Australia Projects Location Map Midas Minerals Canadian Projects Location Map

Newington Lithium-Gold Project: 316km[2] of tenements located at the north end of the Southern Cross and Westonia greenstone belts, prospective for lithium and gold. Exploration in 2022 has outlined anomalous lithium and LCT indicator elements over at least 20km strike. Initial drilling intercepted pegmatites that are laterally extensive, wide and gently dipping. The project also has a number of gold targets and includes significant prior drill intercepts that justify follow-up exploration.

Weebo Gold Project: Tier 1 location within the Yandal greenstone belt with 323km[2] of tenements between the Thunderbox and Bronzewing gold mines, prospective for gold and nickel. Drilling in 2022 intercepted significant gold mineralisation on several prospects. A number of additional gold and nickel geochemical and geophysical anomalies have been defined, the Company plans to drill test these in 2023.

Challa Gold, Nickel-Copper-PGE Project: 907km[2] of tenement and applications with limited but successful exploration to date. A number of significant PGE and gold-copper exploration targets have been defined.

Yellowknife Lithium Project: The Company can earn up to 80% of 718km[2] of mineral claims and applications located outside Yellowknife City, Northwest Territories. Large numbers of pegmatites associated with multiple fertile granite intrusions of Slave Craton. Several known lithium and tantalum occurrences on the project and a number of significant lithium deposits located nearby. Exploration has commenced to map and sample pegmatite swarms.

Greenbush Lithium Project: 102km[2] of mining claims located in the Thunder Bay area, Ontario, proximal to infrastructure, with little outcrop and no historic drilling. A 15m by 30m spodumene bearing pegmatite outcrop was discovered in 1955 on the northeast shore of a lake and initial sampling by Midas has returned results up to 3.82% Li2O from the main outcrop and surrounds, as well as anomalous tantalum occurrences demonstrating regional upside potential. Further mapping and sampling are planned in parallel with seeking drilling permits. Midas also holds the 2.1km[2] Barbara Lake Project about 130km northeast of Thunder Bay.

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Forward Looking Statements

This announcement may contain certain forward-looking statements and projections, including statements regarding Midas’ plans, forecasts and projections with respect to its mineral properties and programmes. Although the forward-looking statements contained in this release reflect management’s current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward looking statements/projections are estimates for discussion purposes only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of the Company.

The forward looking statements/projections are inherently uncertain and may therefore differ materially from results ultimately achieved. For example, there can be no assurance that Midas will be able to confirm the presence of Mineral Resources or Ore Reserves, that Midas’ plans for development of its mineral properties will proceed, that any mineralisation will prove to be economic, or that a mine will be successfully developed on any of Midas’ mineral properties. The performance of Midas may be influenced by a number of factors which are outside the control of the Company, its directors, staff or contractors.

The Company does not make any representations and provides no warranties concerning the accuracy of the projections, and disclaims any obligation to update or revise any forward looking statements/projects based on new information, future events or otherwise except to the extent required by applicable laws.

Competent Persons Statements

The information in this announcement that relates to new Exploration Results is based on and fairly represents information and supporting documentation prepared by Mr Mark Calderwood, the managing director 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.

For full details of previously announced Exploration Results in this announcement, refer to the ASX announcement or release on the said date. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

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APPENDIX A: SURFACE SAMPLE RESULTS

Table 1 – Assay Results – Greenbush May 2023 Samples

Coordinates given in UTM Zone 15 NAD 83

Sample	Easting Northing Be ppm Cs ppm Li2O % Li ppm Nb ppm Rb ppm Sn ppm Ta ppm K:Rb ratio
GRK010 694023 5646954 128 149 0.01 35 66 1,570 114 117 9
GRK011 694010 5646954 210 135 0.01 52 118 1,135 68 203 12
GRK012 694412 5648703 240 262 1.15 5,350 66 1,530 55 38 20
GRK013 694408 5648706 14 187 0.00 10 48 1,685 10 41 25
GRK016 694260 5648683 141 71 1.18 5,500 61 475 222 22 54
GRK017 694264 5648679 170 148 3.82 17,750 69 432 392 60 17
GRK018 694265 5648686 610 222 2.21 10,250 80 524 181 37 25
GRK022 692780 5648240 74 153 0.01 54 81 2,170 27 40 20
GRK024 699674 5647054 2 8 0.00 11 1 228 <3 <1 237
GRK025 703750 5648668 1 5 0.00 17 3 100 <3 <1 338
GRK027 694076 5648600 58 1 0.00 2 26 20 9 24 214

Notes: Samples GRK009, GRK014-15 (non-pegmatite) not included. Sample GRK026, sulphide sample was not assayed.

Table 2 – Assay Results – Barbara Lake May 2023 Samples

Coordinates given in UTM Zone 16 NAD 83

Sample	Easting Northing Be ppm Cs ppm Li2O % Li ppm Nb ppm Rb ppm Sn ppm Ta ppm K:Rb ratio
BRK002 428523 5458795 183 8 0.01 31 73 102 9 62 37
BRK003 428581 5458484 270 22 0.02 114 85 97 8 185 49
BRK004 428534 5458433 180 25 1.49 6,910 37 220 78 59 38
BRK005 428404 5458386 250 14 0.02 81 113 319 39 163 27
BRK006 428337 5458246 5 16 0.01 30 37 550 22 10 49
BRK007 428368 5458159 121 50 2.26 10,500 46 603 131 23 30
BRK008 428487 5457847 250 8 0.02 76 34 273 47 36 43

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APPENDIX B: JORC CODE, 2012 EDITION

Table 1 – For Exploration Results, JORC Code 2012 Edition Section 1 Sampling Techniques and Data

Criteria	JORC Code Explanation	JORC Code Explanation	Commentary
Sampling	•	Nature and quality of sampling (e.g. cut	Greenbush Project – reported samples were grab
techniques		channels, random chips, or specific specialised	rock chip samples.
		industry standard measurement tools appropriate to the minerals under investigation, such as d own hole gamma sondes, or	Barbara Lake Project – reported samples were grab rock chip samples.
		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.
Drilling	•	Drill type (e.g. core, reverse circulation, open-	Not applicable for the program undertaken.
techniques		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.).
Drill sample	•	Method of recording and assessing core and	Not applicable for the program undertaken.
recovery		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.
Logging	•	Whether core and chip samples have been	Rock chip sample descriptions for all samples
		geologically and geotechnically logged to a	have been recorded according to sample type,
		level of detail to support appropriate Mineral	rock type and mineral assemblage. Sample
		Resource estimation, mining studies and	descriptions are qualitative in nature.
		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.

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Criteria	JORC Code Explanation	JORC Code Explanation	Commentary
Sub-sampling	•	If core, whether cut or sawn and whether	Samples are rudimentary and not representative
techniques		quarter, half or all core taken.	of the pegmatite as a whole.
and sample preparation	•	If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or	Samples prepared at ALS Thunder Bay were dried and crushed to a top size of 70% passing
		dry.	2.0mm. 250grams of crushed samples were
	•	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	pulverised to 85 passing 75 microns. 2 samples were split to produce a duplicate for QAQC purposes.
	•	Quality control procedures adopted for all sub- sampling stages to maximise representivity of	The preparation methods are appropriate for the sampling method.
		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.
Quality of	•	The nature, quality and appropriateness of the	At ALS Vancouver, prepared rock chip samples
assay data		assaying and laboratory procedures used and	were fused with sodium peroxide and digested in
and		whether the technique is considered partial or	dilute hydrochloric acid. The resultant solution
laboratory		total.	was analysed by Inductively Coupled Plasma –
tests	•	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.	Mass Spectrometry (ICP-MS) for (lab code ICP- MS89L) Ag, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cs, Cu, Dy, Er, Eu, Fe, Ga, Gd, Ge, Ho, In, K, La, Li, Lu, Mn, Mo, Nb, Nd, Ni, Pb, Pr, Rb, Re, Sb, Se, Sm, Sn, Sr, Ta, Tb, Te, Th, Ti, Tl, Tm, U, V, W, Y, Yb, Zn.
	•	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	The sodium peroxide fusion – hydrochloric digest method offers total dissolution of the sample and is useful for LCT mineral matrices that may resist acid digestions.
		precision have been established.	Industry, normal practice, QAQC procedures were
			followed by ALS.
Verification of	•	The verification of significant intersections by	Not applicable for the early-stage exploratory
sampling and		either independent or alternative company	programs undertaken.
assaying		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.
Location of	•	Accuracy and quality of surveys used to locate	Sample locations for Greenbush are accurate to
data points		drill holes (collar and down-hole surveys),	+/- 10M (UTM Zone 15 NAD 83).
		trenches, mine workings and other locations used in Mineral Resource estimation.	Sample locations for Barbara Lake are accurate to +/-10m (UTM Zone 16 NAD 83).
	•	Specification of the grid system used.
	•	Quality and adequacy of topographic control.
Data spacing	•	Data spacing for reporting of Exploration	Not applicable for the early-stage exploratory
and		Results.	programs undertaken.
distribution	•	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.

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Criteria	JORC Code Explanation	JORC Code Explanation	Commentary
	•	Whether sample compositing has been
		applied.
Orientation of	•	Whether the orientation of sampling achieves	Not applicable for the early-stage exploratory
data in		unbiased sampling of possible structures and	programs undertaken.
relation to		the extent to which this is known, considering
geological		the deposit type.
structure	•	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.
Sample	•	The measures taken to ensure sample	Samples were collected and delivered to the
security		security.	laboratory by company personnel.
Audits or	•	The results of any audits or reviews of	No audits or reviews of sampling techniques have
reviews		sampling techniques and data.	been undertaken.

Section 2 Reporting of Exploration Results

Criteria	JORC Code Explanation	JORC Code Explanation	Commentary
Mineral	•	Type, reference name/number, location and	The Greenbush Project and Barbara Lake
tenement and		ownership including agreements or material	Projects comprise 511 tenements blocks with two
land tenure		issues with third parties such as joint ventures,	types of ownership. These are detailed as follows:
status		partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	Southern Greenbush(100% owned by a wholly- owned subsidiary of Midas). Tenement numbers: 782381 - 782809
	•	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.	Northern Greenbush + Barbara Lake(Midas, through a wholly-owned subsidiary, has exclusive option agreement to buy 100% with 1% NSR of
			which 0.5% can be purchased any time by Midas
			for C$500,000).
			Tenement numbers:
			546125 – 546128 (Northern Greenbush)
			742269 – 742363 (Northern Greenbush)
			550220 – 550219 (Barbara Lake)
			The Greenbush Project is located on crown land
			outside provincial parks, wilderness areas,
			conservation reserves and enhanced
			management areas. Mishkeegogamang First
			Nation (New Osnaburgh) and Slate Falls First
			Nation communities may have an interest over the
			project area.
			There are no current impediments to obtaining a
			license to operate in the project area.
			The Barbara Project is located on crown land
			outside provincial parks, wilderness areas,
			conservation reserves and enhanced
			management areas.
			There are no current impediments to obtaining a
			license to operate in the project area.
Exploration	•	Acknowledgment and appraisal of exploration	Prior exploration is included in Midas’ ASX
done by other		by other parties.	announcement dated 13 February 2023 “MM1 to
parties			Acquire Greenbush Lithium Project in Ontario,
			Canada”.

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Criteria	JORC Code Explanation	JORC Code Explanation	JORC Code Explanation	Commentary
Geology	•	Deposit type, geological setting and style of		Greenbush Project
		mineralisation.		The bedrock in the area is reported (Goodwin,
				1965) to be of Precambrian age. It is comprised of
				an older assemblage of metasediments and
				metavolcanics and associated mafic intrusions;
				younger felsic intrusions; and diabase dikes. The
				metavolcanics consist predominantly of felsic to
				mafic tuffs, flows and breccias and metamorphic
				equivalents. There are occasional dikes and sills
				as well as larger, irregular masses of metadiorite
				and metagabbro. The metavolcanics of the older
				assemblage generally overlie but are also
				interzoned with the older metasediments.
				Generally, the metasediments consist of quartz-
				mica schist, arkose, greywacke, staurolite-garnet
				andalusite schist, pebble conglomerate and
				banded iron formation. Together they are
				conformably overlain by a substantial thickness of
				assorted felsic to mafic volcanic rocks in which
				several thinner zones of metasediments are
				associated. The intrusive rocks primarily include a
				massive to porphyritic granitic batholith extending
				to the northwest, as well as smaller granitic
				stocks, dikes and sills. Pegmatites of a wide
				variety of shapes and sizes occur locally and in
				great profusion near the south marginal contact of
				the granite batholith. Other instances of pegmatite
				dykes were formed by injection along fractures.
				The Precambrian assemblage is unconformably
				overlain by unconsolidated till, gravel, sand and
				clay, primarily of Pleistocene age.
				Barbara Lake Project
				The bedrock in the area was mapped and
				described by Pye (1965). Metasediments
				constituted of Biotite-quartz-feldspar schist or
				gneiss are intruded by pegmatite and diabase
				dykes.
Drill hole	•	A	summary of all information material to the	No drilling activities are being reported.
Information		understanding of the exploration results including a tabulation of the following information for all Material drill holes:		The coordinates, samples and descriptions of samples assayed to date are included in Appendix A, Tables 1 and 2.
		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.

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Criteria	JORC Code Explanation	JORC Code Explanation	Commentary
Data	•	In reporting Exploration Results, weighting	No drilling activities are being reported.
aggregation		averaging techniques, maximum and/or
methods		minimum grade truncations (e.g. cutting of high
		grades) and cut-off grades are usually Material
		and should be stated.
	•	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.
Relationship	•	These relationships are particularly important	No drilling activities are being reported.
between		in the reporting of Exploration Results.
mineralisation widths and intercept lengths	• •	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’).
Diagrams	•	Appropriate maps and sections (with scales)	Figures 1 and 2 show sample locations.
		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.
Balanced	•	Where comprehensive reporting of all	Prior exploration is included in Midas’ ASX
reporting		Exploration Results is not practicable,	announcements dated 13 February 2023 “MM1 to
		representative reporting of both low and high	Acquire Greenbush Lithium Project in Ontario,
		grades and/or widths should be practiced to	Canada”; 28 March 2023 “Midas Confirms Coarse
		avoid misleading reporting of Exploration	Spodumene at Greenbush Lithium Project in
		Results.	Ontario, Canada”; and 14 June 2023 “MM1
			sampling returns up to 1.68% Li2O from
			Greenbush, Canada.
Other	•	Other exploration data, if meaningful and	All relevant and material exploration data for the
substantive		material, should be reported including (but not	target areas discussed, has been reported or
exploration		limited to): geological observations;	referenced.
data		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.
Further work	•	The nature and scale of planned further work	Further exploration is warranted across the
		(e.g. tests for lateral extensions or depth	tenements to improve the understanding of the
		extensions or large-scale step-out drilling).	mineralisation.
	•	Diagrams clearly highlighting the areas of
		possible extensions, including the main
		geological interpretations and future drilling
		areas, provided this information is not
		commercially sensitive.

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