Midas Minerals Ltd (ACN 625 128 770) ('Midas' or 'the Company') (ASX: MM1) is pleased to announce an update on exploration activities on the Otavi and South Otavi Projects located in Namibia.
Otavi Copper Project
In October, the Company announced the receipt of final third-party approvals for its acquisition of the 1,776km2 Otavi Copper Project. The parties are working through the various steps required to give effect to completion of the acquisition, which is expected to occur prior to the end of 2025. With completion imminent, Midas has commenced its first drilling program at the Otavi Project, with two diamond drill rigs on the T-13 Deposit and one reverse circulation ('RC') rig at the Spaatzu prospect (formerly Monty). The exploration ramp-up will continue with additional drilling at the Deblin Segen (aka Driekoppies), Devon and Hartebeesport prospects. Scheduling of these prospects depends on the duration and intensity of Namibia's wet season.
South Otavi Project
In May, the Company announced details of historic and recent exploration on the South Otavi Project, 3 and in September, the Company announced it had commenced drilling gold and copper prospects at South Otavi. Midas' 140-hole first-phase program, totalling 3,693m, was completed in October and samples have been submitted for commercial laboratory analysis, with results expected in January 2026.
Contact:
Mark Calderwood
Email: info@midasminerals.com
Nathan Ryan
Email: nathan.ryan@nwrcommunications.com.au
About Midas
Midas Minerals is a junior mineral exploration company with a primary focus on copper and precious metals. Midas' Board and management has a strong track record of delivering value for shareholders through mineral discoveries and mine development and growing microcap explorers into successful ASX100-ASX300 companies. The Company has the Newington and Challa Projects located in Western Australia, as well as two lithium projects in Canada. The Company has also entered into an agreement to acquire the Otavi Project in Namibia and an option to earn an interest in the South Otavi Project. Otavi Project: Midas has entered into an agreement to acquire the 1,776km2 high-grade Otavi Copper Project in Namibia. The Otavi Project has exceptional exploration upside, with an abundance of historic shallow, highgrade drill intercepts including 17.2m at 7.24% Cu and 144.4g/t Ag (refer ASX release dated 16 May 2025), and significant untapped potential for future discoveries due to modern exploration covering
Forward Looking Statements
This announcement may contain certain forward-looking statements and projections, including statements regarding Midas' plans, forecasts and projections with respect to its mineral properties and programmes. Although the forward-looking statements contained in this release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward looking statements/projections are estimates for discussion purposes only and should not be relied upon.
They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of the Company. The forward looking statements/projections are inherently uncertain and may therefore differ materially from results ultimately achieved. For example, there can be no assurance that Midas will be able to confirm the presence of Mineral Resources or Ore Reserves, that Midas' plans for development of its mineral properties will proceed, that any mineralisation will prove to be economic, or that a mine will be successfully developed on any of Midas' mineral properties. The performance of Midas may be influenced by a number of factors which are outside the control of the Company, its directors, staff or contractors. The Company does not make any representations and provides no warranties concerning the accuracy of the projections, and disclaims any obligation to update or revise any forward looking statements/projects based on new information, future events or otherwise except to the extent required by applicable laws.
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