Midas Minerals (MM1) Investor presentation summary

Transformational acquisition overview

• Acquiring 100% of the Otavi Copper-Gold-Silver Project in Namibia, covering 1,776 km² with less than 40% explored and numerous high-grade drill targets.

• Project features historic shallow, high-grade drill intercepts, rapid resource definition potential, and significant prior exploration by Nexa Resources with $20M spent.

• Otavi is located in a premier mining jurisdiction with excellent infrastructure, including proximity to highways, rail, power, water, and workforce.

• Acquisition terms include staged cash payments totaling US$11M and a 1% NSR royalty, with completion subject to regulatory and capital raising conditions.

• Board and management have a strong discovery and production track record in Africa and copper projects, holding a significant equity stake.

Project highlights and exploration upside

• Multiple high-grade copper, silver, and gold intercepts at T13 and Deblin, including 17.2m @ 7.24% Cu & 144.4g/t Ag and 15m @ 4.15% Cu, 14.6g/t Ag, 0.22g/t Au.

• Over 56km of drill core, 17,000+ soil samples, and extensive geophysical data available for interpretation.

• Numerous walk-up drill targets ready for immediate testing, with potential for both open pit and underground resources.

• Exploration strategy includes rapid commencement of drilling with multiple rigs and building a local team to accelerate progress.

• Targeting multiple deposits grading over 2% copper with significant precious metals credits and favorable metallurgy.

Corporate structure and financials

• 124M shares on issue, tightly held with board and management holding 9.7% and Parsons & Naylor an additional 9.4%.

• Market cap of $20M as of May 2025, with $0.5M cash and no debt.

• Capital raising of A$10M required as a condition for acquisition completion.

• Share register backed by experienced corporate, exploration, and mining teams.