MIDAS MINERALS LTD — Capital/Financing Update 2023

Jun 13, 2023

ASX / MEDIA ANNOUNCEMENT 14 June 2023

==> picture [118 x 68] intentionally omitted <==

2O Midas sampling returns up to 1.68% Li from Greenbush Lithium Project, Canada

Highlights

• Midas has commenced exploration on the Greenbush and Barbara Lake Lithium Projects in Ontario, Canada

• Initial outcrop mapping and sampling has returned results up to 1.68% Li2O at Greenbush; A further 11 samples are pending analysis with results expected in Q3 CY23

• Outcropping spodumene-bearing pegmatite previously documented at Greenbush

• Detrital spodumene-bearing pegmatite recently located at Barbara Lake, with assay results from 7 samples due in Q3 CY23

• Midas plans further mapping and sampling for Greenbush; in parallel to drill permitting

• Midas will use a high-resolution LiDAR survey and previous sampling on Barbara Lake to prioritise target areas

Midas Minerals Ltd (“Midas”, or “the Company”) ( ASX: MM1 ) is pleased to provide an update of its exploration at the Greenbush and Barbara Lake lithium projects in Ontario, Canada.

Greenbush Lithium Project

The 102km[2] Greenbush Project is located ~12km east of Highway 599, about 95km north of Savant Lake and 70km south of Pickle Lake in the of Thunder Bay district, Ontario (refer ASX announcement 28 March 2023).

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 total of 11 pegmatite samples have been submitted for analysis; assays have been received for six prior samples (Table 1 and 3) collected during the initial due diligence field visit. Outcrop appears limited on the northern tenement group, so detailed geophysics may prove a useful tool in interpreting structural controls. Midas will commence drill permitting for the known spodumene bearing pegmatite area. Further mapping and sampling work is proposed to initially assess the large swarm of pegmatites located on the southern tenement group.

The Greenbush project is located 80km east of Green Technology Metals’ (ASX: GT1) Root Lithium Project, with both projects straddling the boundary between the English River and Uchi sub-provinces.

Managing Director Mark Calderwood commented:

“From the limited amount of outcrop, we have a better understanding of the most prospective corridors for pegmatites at Greenbush following our recent sampling. Results from remaining samples will build on this exploration model. Further mapping is planned south of the Greenbush Lake -Pashkokogogan fault in a similar geological setting to GT1’s Root Lithium Project and we’re also commencing drill permitting.

“The Barbara Lake project is located in a known spodumene province, and given the presence of detrital spodumene, it is considered highly encouraging for extensions to the Jackpot pegmatite swarm being explored by Imagine Lithium.”

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

==> picture [97 x 56] intentionally omitted <==

==> picture [489 x 245] intentionally omitted <==

Figure 1: Outcrop of 15m wide Spodumene Pegmatite – Greenbush Project

Table 1 – Assay Results – Greenbush March 2023 Samples

	Sample	Be **ppm **	Cs **ppm **	Li2O %	Li **ppm **	Nb **ppm **	Rb **ppm **	Sn **ppm **	Ta **ppm **	K:Rb ratio
	GRK001	240	109	1.68	7,800	60	220	70	18	41
	GRK002	168	455	0.73	3,390	105	2,800	66	51	23
	GRK003	166	206	0.84	3,880	50	1,775	54	18	21
	GRK004	4	135	0.03	120	60	1,030	10	47	31
	GRK005	79	225	0.94	4,370	35	1,690	93	27	27
	GRK008	4	14	0.02	70	20	180	4	15	144

Notes: Locations and sample descriptions are included in Appendix B - Table 2. Sample GRK006 (non-pegmatite) was not assayed. Sample GRK007 was from outside project area.

2

ASX:MM1

www.midasminerals.com

Error! Unknown document property name.

==> picture [97 x 56] intentionally omitted <==

Barbara Lake Lithium Project

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 (TSXV:RCK) Georgia Lake Project.

Midas’ limited prospecting to date has resulted in the discovery of detrital spodumene-bearing pegmatite (Figure 2), despite areas of snow cover at the time. Seven samples are pending analysis with results expected in Q3 CY2023, and further mapping will be undertaken following receipt of the results of a recently completed LiDAR survey and high-resolution photography.

==> picture [414 x 420] intentionally omitted <==

Figure 2: Detrital Pegmatite with Abundant (20% - 30%) Pale Green Spodumene – Barbara Lake

In relation to the disclosure of visual occurrences of pegmatite and spodumene, the Company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. The Company expects to receive the laboratory analytical results of rock chip samples in the next quarter.

3

ASX:MM1

www.midasminerals.com

Error! Unknown document property name.

==> picture [97 x 56] intentionally omitted <==

The Board of Midas Minerals Ltd authorised this release.

For more information:

Mark Calderwood Nathan Ryan Managing Director Media / Investor Relations E: mcalderwood@midasminerals.com E: nathan.ryan@nwrcommunications.com.au

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 Project in Ontario, Canada and the Yellowknife Lithium Project, in the Northwest Territories, Canada.

==> picture [233 x 242] intentionally omitted <==

==> picture [245 x 246] intentionally omitted <==

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.

4

ASX:MM1

www.midasminerals.com

Error! Unknown document property name.

==> picture [97 x 56] intentionally omitted <==

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 Cration. 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 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 sampled by the Ontario Geological Survey (OGS) in 1965. The OGS chip was sampled across the full 15m width of the spodumene pegmatite outcrop, with results averaging 1.25% Li ₂ O. Refer ASX announcement dated 13 February 2023.

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.

5

ASX:MM1

www.midasminerals.com

Error! Unknown document property name.

==> picture [97 x 56] intentionally omitted <==

APPENDIX A: 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 – no sample results being reported
		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 samples
		geologically and geotechnically logged to a	assayed are included in Appendix B Table 3, they
		level of detail to support appropriate Mineral	are qualitative in nature
		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.

6

ASX:MM1

www.midasminerals.com

Error! Unknown document property name.

==> picture [97 x 56] intentionally omitted <==

Criteria	JORC Code Explanation	JORC Code Explanation	Commentary
Sub-sampling	•	If core, whether cut or sawn and whether	Samples are rudimentary and not representative of
techniques		quarter, half or all core taken.	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 Nagrom were dried and crushed to a top size of 6.3mm. Crushed samples
		dry.	were pulverised to 80% passing 75 microns. 1:20
	•	For all sample types, the nature, quality and appropriateness of the sample preparation	samples were split to produce a duplicate for QAQC purposes.
		technique.	The preparation methods are appropriate for the
	•	Quality control procedures adopted for all sub-	sampling method.
		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.
Quality of	•	The nature, quality and appropriateness of the	At Nagrom, prepared rock chip samples were
assay data		assaying and laboratory procedures used and	fused with sodium peroxide and digested in dilute
and		whether the technique is considered partial or	hydrochloric acid. The resultant solution was
laboratory		total.	analysed by ICP for (lab code ICP004_MS/OES) Y,
tests	•	For geophysical tools, spectrometers, handheld XRF instruments, etc., the	La, Ce, Pr, Nd, Dy, B, Be, Cs, K, Hf, Li, Nb, P, Rb, Sn, Ta, Zr.
		parameters used in determining the analysis	The sodium peroxide fusion – hydrochloric digest
		including instrument make and model, reading	method offers total dissolution of the sample and is
		times, calibrations factors applied and their	useful for LCT mineral matrices that may resist
		derivation, etc.	acid digestions.
	•	Nature of quality control procedures adopted	Industry, normal practice, QAQC procedures were
		(e.g. standards, blanks, duplicates, external	followed by Nagrom.
		laboratory checks) and whether acceptable
		levels of accuracy (i.e. lack of bias) and
		precision have been established.
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	The Pegmatite in Figure 1 is located at 694,270E;
data points		drill holes (collar and down-hole surveys),	5,648,680N +/-10m (UTM Zone 15 NAD 83)
		trenches, mine workings and other locations used in Mineral Resource estimation.	The Sample in Figure 2 is located at 428,368E; 5,458,159N +/-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.
	•	Whether sample compositing has been
		applied.

7

ASX:MM1

www.midasminerals.com

Error! Unknown document property name.

==> picture [97 x 56] intentionally omitted <==

Criteria	JORC Code Explanation	JORC Code Explanation	Commentary
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 has
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 Projects
tenement and		ownership including agreements or material	comprise 511 tenements blocks with two types of
land tenure		issues with third parties such as joint ventures,	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 13 February 2023 “MM1 to Acquire
parties			Greenbush Lithium Project in Ontario, Canada”.
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;

8

ASX:MM1

www.midasminerals.com

Error! Unknown document property name.

==> picture [97 x 56] intentionally omitted <==

Criteria	JORC Code Explanation	JORC Code Explanation	JORC Code Explanation	Commentary
				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, sample description of samples assayed to date are included in Appendix B, Table 3.
		o	easting and northing of the drill hole collar	The coordinates, of the recent rock chip samples
		o	elevation or RL (Reduced Level –	will be provided once the relevant assay
			elevation above sea level in metres) of the	information has been received.
			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.
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

9

ASX:MM1

www.midasminerals.com

Error! Unknown document property name.

==> picture [97 x 56] intentionally omitted <==

Criteria	JORC Code Explanation	JORC Code Explanation	Commentary
		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)	Figure 2 show the detriatal spodumene
		and tabulations of intercepts should be	mineralisation from Barbara Lake. Appendix B,
		included for any significant discovery being	Table 3 contains the location of the pegmatite
		reported These should include, but not be	samples assayed to date, Table 4 contains the
		limited to a plan view of drill hole collar	location of the pegmatite samples collected from
		locations and appropriate sectional views.	Barbara Lake Project, assays pending.
Balanced	•	Where comprehensive reporting of all	Prior exploration is included in Midas ASX
reporting		Exploration Results is not practicable,	announcements 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” and 28 March 2023 “Midas Confirms
		avoid misleading reporting of Exploration	Coarse Spodumene at Greenbush Lithium Project
		Results.	in Ontario, Canada”.
			The visual occurrences of spodumene have been
			selected based on sighted occurrences of visual
			spodumene on rock outcrops and are not intended
			to be representative of exploration work undertaken
			to date.
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.

10

ASX:MM1

www.midasminerals.com

Error! Unknown document property name.

==> picture [97 x 56] intentionally omitted <==

APPENDIX B – PEGMATITE DESCRIPTIONS

Table 3 – 2023 Greenbush Sample Descriptions and Locations (UTM Zone 15 NAD 83)

Sample ID	Easting	Northing	Lithology	Comment
GRK001	694269	5648683	Pegmatite	grab sample - Qtz rich matrix with spodumene phenocrysts,
				low muscovite + minor tourmaline + rare opaques with iron
				staining. Coarse grained (10-30mm), spodumene high (30%)
				Mostly white to greenish tint.
GRK002	694272	5648689	Pegmatite	grab sample - Albite, qtz, spodumene (10%), muscovite, very
				coarse grained up 100mm.
GRK003	694267	5648686	Pegmatite	grab sample - Qtz, Albite, Spodumene, Musc. Finer grained
				zone (3-10mm). 10% spodumene with minor chlorite
				alteration. Minor tourmaline. low albite alteration
GRK004	694268	5648684	Pegmatite	grab sample - K feld, Qtz, Musc. weakly foliated, contains
				minor zenolith inclusions?
GRK005	694268	5648685	Pegmatite	grab sample - Qtz, K feld, Albite, Spodumene. Spodumene
				rich zone (20%) with mod chlorite alteration
GRK006	694326	5648716	Intermediate	Metavolcanic?, highly foliated, banded felsic/intermediate
			Metavolcanic	ortho schist, Disseminated sulphides throughout
GRK008	699691	5647071	Pegmatite	Grab sample - Fine - medium grained peg, basic comp, feld,
				qtz musc, some biotite on contact with xms.

Table 4 – 2023 Barbara Lake Sample Descriptions and Locations, assays pending (UTM Zone 16 NAD 83)

Sample ID	Easting	Northing	Lithology	Comment
BRK002	428523	5458795	Pegmatite Float	Saccharoidal albite w quartz blebs (1cm) and disseminated
				?tantalum. Highly weathered spodumene (0-10%), also
				chloritised but retains pyroxene habit
BRK003	428581	5458484	Pegmatite Float	Saccharoidal albite with mm scale quartz blebs
BRK004	428534	5458433	Pegmatite Float	Pale green spodumene (10-30%) in pegmatite
BRK005	428404	5458386	Pegmatite Float	Graphic albite and quartz
BRK006	428337	5458246	Pegmatite Float	Green muscovite and fine disseminated garnet within
				saccharoidal albite and quartz.
BRK007	428368	5458159	Pegmatite Float	VCG spodumene (15cm) - pale to mod green. Comprises 20-
				30% or rock. Albite quartz groundmass

11

ASX:MM1

www.midasminerals.com

Error! Unknown document property name.