|September 23, 2011|
Midlands retains IR firm and announces grant of stock options
|Midlands Minerals Corp. ("Midlands" or the "Company") (TSX VENTURE:MEX)(OTCQX:MDLXF) is pleased to announce that it has entered into an investor relations agreement (the "IR Agreement") with KA Gold LLC of Tahoe City, California. The IR Agreement provides for a monthly fee of $5,500 and the issuance of 100,000 stock options pursuant to the Company's stock option plan (the "Plan"), including vesting provisions. The stock options have an exercise price of $0.085 per share and an expiry date of September 22, 2016. The IR Agreement is for an initial renewable term of four months.|
The Company has also granted an aggregate of 8,000,000 stock options to directors, officers and consultants of the Company pursuant to the Plan. These stock options vest immediately, have an exercise price of $0.085 per share and an expiry date of September 22, 2016.
On behalf of the Board of Directors:
Chairman of the Board
For further information, please contact:
+1 (416) 987-0855
Principal, Bayfront Capital Partners
+1 (647) 402-7552
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' highly prospective Kaniago gold project is located in Ghana's Asankrangwa gold belt and contiguous to two past open pit gold producers: Abore to the north and Obotan to the south. Recent drilling and exploration has produced highly encouraging results, demonstrating the gold resource potential of the project.
Midlands also has two gold exploration projects in the Lake Victoria Goldfields in Tanzania. The Itilima project is located in the prolific Geita-Bulyanhulu-Sekenke gold belt, host to over 40 million ounces in gold reserves, as well as the Kilindi-Handeni project.
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.
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 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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