MIDAS MINERALS LTD — Capital/Financing Update 2025

Sep 24, 2025

ASX / MEDIA ANNOUNCEMENT 25 September 2025

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ISSUE OF SHARES AND CLEANSING NOTICE

Further to its ASX announcement on 18 September 2025, Midas Minerals Ltd (“Midas”, or “the Company”) (ASX: MM1) has issued 31,026,082 fully paid ordinary shares (“Shares”) at an issue price of $0.37 each under the first tranche of the Placement, raising approximately $11,479,650 (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 55,000 Shares to raise up to approximately $20,350 (before costs), subject to shareholder approval to be sought at a general meeting in December 2025. A notice of meeting will be sent to shareholders in due course.

Cleansing Notice

Midas issued the Tranche 1 Placement Shares 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: info@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