MIDAS MINERALS LTD — Capital/Financing Update 2024

Nov 7, 2024

ASX / MEDIA ANNOUNCEMENT 8 November 2024

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ISSUE OF SHARES AND CLEANSING NOTICE

Further to its ASX announcement on 31 October 2024, Midas Minerals Ltd (“Midas”, or “the Company”) (ASX: MM1) has issued 18,200,000 fully paid ordinary shares (“Shares”) at an issue price of $0.08 each under the first tranche of the Placement, raising approximately $1,456,000 (before costs). The shares were issued pursuant to ASX Listing Rules 7.1 and 7.1A.

The Company intends to issue a second tranche of up to 1,800,000 Shares to Directors and consultants to raise up to approximately $144,000, subject to shareholder approval to be sought at a general meeting in December 2024. A notice of meeting will be sent to shareholders shortly.

Midas also advises that a total of 350,000 Shares have also been issued on conversion of vested Performance Rights held by employees and consultants of the Company.

Cleansing Notice

Midas issued the 18,200,000 Tranche 1 Placement Shares and 50,000 Shares on conversion of vested Performance Rights without disclosure to investors under section 708A(5) of the Corporations Act 2001 (Cth) (“Act”). With reference to these Shares, in accordance with section 708A(6) of the Act, the Company gives notice under paragraph 708A(5)(e) that:

1. the 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