September 2009
Investor Presentation
Forward-Looking Statement
Certain statements contained in the following presentation constitute forwardlooking statements. Such forward-looking statements involve a number of known
and unknown risks, uncertainties and other factors, which may cause the actual
results, performance or achievements of the company to be materially different
from actual results and achievements expressed or implied by such forward-looking
statements. Readers are cautioned not to place undue reliance on these forwardlooking statements, which speak only as of the date the statements were made.
Readers are also advised to consider such forward-looking statements while
considering the risks inherent in the business of exploration.
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TSX-V: MEX
• Focused on gold in Ghana and Tanzania
• 53.5 million shares O/S
• Experienced Board & Management
• We know Africa well
Company Strategy
• Politically stable countries
• History of gold mining
• Acceptance of mining by locals
2nd Largest Gold Producer
• Permitting & tenure laws
GHANA
• Objective: grow our assets into
multi-million oz deposits
Largest Gold Producer
• Over 100 years of combined
African experience
• Over 90 years of combined geological
African experience
3rd Largest Gold Producer
TANZANIA
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TSX-V: MEX
Shares outstanding
52 week high
52 week low
53.6 million
$0.23
$0.075
Midlands vs. S&P/TSX Venture Composite Index – 1 Year
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Priority Project: Sian, Ghana
Sian on Ashanti Gold Belt
• Sian contains two previous open pit
mines and a 400,000 oz resource at
2.3 g/t
• 30 km NE of Newmont’s Akyem
8.7+ million oz deposit
• Production capital costs minimized
by existing mine infrastructure
• Drill results show significant
exploration upside potential
Other Ghana Projects:
• Kwahu Praso (Ashanti Belt)
• Kaniago (Asankrangwa Belt)
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Gold Projects: Tanzania
Tanzania: Gold & Diamonds
Lake Victoria Goldfields:
Area with over 50 million oz in gold reserves
• Itilima Project (43-101): gold and diamonds
• Lwenge/Geita Gold Project
• Kishapu
• Lalago
Other properties in Tanzania:
• Vukene
• Kilindi
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Priority Project: Sian
Here is what we have:
• Sian – a fully permitted past-producing open pit gold mine on the Ashanti Gold
Belt in Ghana
• A 400,000 oz gold deposit with potential to grow to at least one million oz
• Existing CIL gold processing plant
• A renewable 30 year mining lease
• Completely surrounded by Newmont Mining
• A feasibility study done in 1995– currently being updated by EPC Engineering and
Projects Company Limited (SA)
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Aiming for a
Multimillion oz Deposit
Ghana
Sian & Kwahu Praso are contiguous
licences
•
160 sq km of prime ground for gold
Current NI 43-101 Resource
•
400,000 oz gold deposit @ 2.3 g/t
•
800,000 oz in gold potential from
preliminary drilling to be tested
•
Analysis of drill sections to be confirmed
in next drill program
Only 10% of target areas
drilled to date
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Sian Open Pit
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Sian Processing Plant
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Sian Power Is in Place
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Sian Infrastructure Is in Place
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Sian Gold Project
Sian:
•
Potential multimillion oz deposit supported by geology, dixcove granitoids
•
16 km strike length gold anomaly, less than 10% drilled to date
•
Sian structures extend into contiguous Praso project (100% Midlands)
•
14,000 metres of drilling since October 2006
•
400,000 oz @ 2.3 g/t based on drilling to 120 m
•
Double digit grades below 120 m
Short-Term Plan
• Infill drilling in the pit, expand gold deposit to at least 1 million oz
• Scoping study followed by update/validation of feasibility study (underway)
• VTEM to accelerate drilling
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Comparable Companies
Name/Symbol
Countries
Minerals
Mkt Cap C $ M
52 wk High/Low C $
Resource oz Au
Shares O/S
Midlands Minerals Corporation
TSX-V: MEX
Ghana
Tanzania
Gold
Diamonds
10.2
0.23/0.075
400,000
53.6 mil
PMI Gold Corporation
TSX-V: PMV
Ghana
Gold
14.3
0.19/0.01
(n/a)
118.9 mil
Pelangio Exploration Inc.
TSX-V: PX
Ghana
Gold
29.8
0.435/0.025
(n/a)
78.4 mil
African Gold Group, Inc.
TSX-V: AGG
Ghana
Mali
Gold
9.2
0.64/0.03
(n/a)
59.3 mil
Adamus Resources Limited
TSX-V: ADU
Ghana
Australia
Tasmania
Gold
Diamonds
24.1
0.325/0.26
+ 1,000,000
92.6 mil
AMI Resources Inc.
TSX-V: AMU
Ghana
Gold
2.5
0.085/0.01
122,000
32.2 mil
Canaco Resources Inc.
TSX-V: CAN
Tanzania
Mexico
Gold
Diamonds
Silver
2.5
0.19/0.02
(n/a)
48.4 mil
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Why We Are Different
• Quality projects and locations
• Near-production past open pit gold producer – Sian – Ghana
• 40% institutional investment support
• Politically stable gold producing countries
• Focused on gold
• No debt
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Next Steps 2009/2010
Focus on existing known drill targets to expand gold deposit to
increase 400,000 oz to at least 1 million oz
• Up to 20,000 metres of drilling planned
• Sian Main Zone – up to 12,000 metres
• Drilling of waste dumps – 2,000 metres
• Test down plunge extensions of main lenses below 120 m
• Infill drilling to increase quality of resource to measured & proven
• Test at greater depth
• New zones and extensions – 2,000 metres
• Mpeyo zone and extensions – 2,000 metres
• Kwahu Praso – 2,000 metres
• Airbone VTEM survey to accelerate drilling for a multi-million oz deposit
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Financing Required & Work Plan
Up to USD $6 million
• Expand gold resource to at least 1 million oz
• Infill drilling within the pit
• Infill drilling on northern and southern
extensions
• Drill at depth – below 120 metres
• Extend northern and southern extensions
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Financing Required & Work Plan
• Focus on known areas
• Shaded areas are scout test drilling
areas to expand the resource
• At least 20% of the resource to be
upgraded to measured category
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Results Expected
• Increase the indicated resource on Sian to at least one million oz
• Upgrade at least 20% to measured and proven resource
• Complete scoping study and update Sian feasibility study
• Complete a VTEM airborne survey to accelerate drilling on Sian and Praso
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Use of Funds
Priorities – Sian/Praso
Sian
•
•
•
•
2,000 metres drilling on waste dumps (RC)
Up to 12,000 metres on Sian Main Zone
• Test down plunge extensions below 120 m
• Infill drilling in the pit (DDH)
• Increase the resource
• Upgrade resource to measured/proven
• Test at greater depth (DDH)
2,000 metres new zones and extensions (RC)
2,000 metres - Mpeyo zones and extensions (RC)
Praso
•
2,000 metres
Sian/Praso
•
•
VTEM airborne survey
• Approximately 1,000 line kilometres
Data interpretation
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Use of Funds (USD)
Ghana and Tanzania
Ghana
Ghana property payments
$100,000
Sian drilling (RC & DDH)
3,250,000
VTEM Sian/Praso – 1,000 line km
250,000
Kaniago
250,000
Tanzania
Soil surveys and property maintenance
200,000
Corporate
Working capital
1,000,000
Contingency
450,000
Total:
USD $6 million
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Use of Funds
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Key Management
Kim F. Harris, MA – President and CEO
- Founder of Midlands
- Over 20 years of experience in Africa, including 12 in exploration
Pierre Lalande, PGeo – Senior Geologist
- Chief Geologist for IAMGold Corp. from 1994 to 2001
- Previously with Watts, Griffis and McOuat Ltd.
- Over 35 years of international geological experience, with extensive experience in West Africa
Paul E. Singer, CA – CFO
- Over 30 years’ experience as a CA in private practice
Isaac T. Adjovu (Geologist) – Regional Exploration Manager, Ghana
- Over 20 years of experience in Africa
- Experience as a Consulting, Exploration, and Senior Geologist with BRGM, Ashanti, and Newmont Mining
- Chief Executive of Geodita Resources Ltd. for over six years
Constantine Moshy (Geologist) – Exploration Manager, Tanzania
- Over 30 years of experience in exploration and geology
- Has worked with the Ministry of Energy and Minerals and as a Chief Field Exploration Geologist with a private company
Naomi Benedikt – Controller and AVP Administration
- Many years of experience in management and accountancy, previously a Controller in large property management firms
EPC Engineering and Projects Company – Project Manager and Operator
- Broad African experience in project engineering, plant operations and project management
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Directors
Edward A. Harris – Chair
- VP and Portfolio Manager with McLean Budden Ltd. since 1990, with 34 years of experience in the financial services industry
Kim F. Harris, MA – Vice Chair
- Founder of Midlands, with over 20 years of business experience in Africa, including 12 in exploration
Pierre Lalande, PGeo
- Chief Geologist for IAMGold Corp. from 1994 to 2001, previously with Watts, Griffis and McOuat Ltd.
- Over 35 years of international geological experience, with extensive experience in West Africa
Darryl Levitt, LLB
- Of Counsel with McLeod Dixon LLP
- Extensive experience with financings, mergers, and acquisitions in the mining sector
- Several years’ experience in mining and securities law; licenced to practice in Ontario and South Africa
R. John Carruthers
- Director of Industrial Business Development with Casebank Technologies Inc. from 1999 to 2004
- Former Manager with Deloitte & Touche until February 1999
Mark B. Keatley, MBA, MPhil, MA
- CFO of Ashanti Goldfields Ltd. from 1994 to 2000
- Senior management positions in International Finance Corporation, World Bank, Ford Motor Company, UK
Karl Schmed
- President, Global Colour Link & Associates
Noel Nedrick
- Former commercial banker with TD Bank
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Contact Information
Head Office
1210 Sheppard Avenue East, Suite 302
Toronto, Ontario
Canada M2K 1E3
Tel: +1 416 492 6992
Fax: +1 416 492 6993
E-mail: info@midlandsminerals.com
www.midlandsminerals.com
Accra, Ghana
Aviation House, Suite 203
PO Box 30679, KIA
Accra
Ghana
Tel: +233 (0) 21 772 441
info@midlandsminerals.com
Shinyanga, Tanzania
Sian, Ghana; April 2007
PO Box 1175
Shinyanga
Tanzania
info@midlandsminerals.com
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