|January 09, 2012|
Midlands Minerals Signs MOU with Obo Traditional Council Allowing Continued Exploration of the Sian Gold Project
|Toronto, Ontario: Midlands Minerals Corp. ("Midlands" or the "Company") (TSX-V:MEX; OTCQX:MDLXF) is pleased to announce that it signed a memorandum of understanding (the "MOU") with the Obo Traditional Council, representing the Nifa Division of the Kwahu traditional area and its constituent communities (the "Community") on January 4, 2011. The MOU reflects that Midlands and the Community have agreed to forge a new relationship for the mutual benefit of both parties. The MOU allows Midlands complete access to the Sian gold project, facilitating the continued exploration of the project. As part of the agreement, Midlands has also agreed to assist the Community with its socio-economic development issues.|
Mr. Craig Pearman, President and CEO of Midlands commented: "The MOU is significant for Midlands in that it opens the way for accelerated exploration of the prospective Sian gold project in 2012 and establishes an environment of mutual company-community respect and support which is critical to the company's success on the project. Midlands looks forward to resuming active exploration at Sian early in 2012."
About Midlands Minerals:
Midlands Minerals is focused on developing a portfolio of high quality gold exploration projects in Ghana and Tanzania, countries with exceptional histories of gold production and home to some of the most profitable gold mines in Africa. Midland's flagship gold property is the Sian project, site of a past producing open pit gold mine located in the Ashanti gold belt. Sian has NI 43-101 compliant Indicated gold resources of 2.6 million tonnes grading 2.33 gpt gold (192,400 ounces) and Inferred gold resources of 2.7 million tonnes grading 2.35 gpt gold (203,350 ounces). Extensions to these resources are open along strike and at depth, highlighting the potential to grow the gold resource at Sian. Midlands' Kaniago gold project is located in Ghana's Asankrangwa gold belt and is contiguous to two past open pit gold producers: Abore to the north and Obotan to the south. Recent drilling and exploration has produced encouraging results, demonstrating the gold resource potential of the project.
Midlands also holds licences for gold and diamonds in two regions in Tanzania. The first is found in the Lake Victoria Goldfields region and includes its advanced Itilima Gold Project, which lies within the Geita-Bulyanhulu-Sekenke Trend, which hosts over 40 million ounces in gold reserves. The second region lies within the Kilindi-Handeni Trend and includes the New Kilindi-Handeni prospecting licences.
Please note: mineral resources that are not mineral reserves do not have demonstrated economic viability. Additional information on Midlands can be viewed under the Company's profile at www.sedar.com or on Midlands' website: www.midlandsminerals.com.
On behalf of the Board of Directors:
Chairman of the Board
FOR FURTHER INFORMATION, PLEASE CONTACT:
Midlands Minerals Corporation
Corporate Communications: Kimberly Ann
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the company's projects and other future plans, objectives or expectations of Midlands Minerals Corp. (the "Company") are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQX accepts responsibility for the adequacy or accuracy of this release.
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