Midas Minerals (MM1) Q1 2025 TU earnings summary

Executive summary

• Completed mapping and sampling at Newington, WA, defining drill-ready gold targets; drilling planned for September quarter pending approvals.

• Continued target definition at Challa Project with additional results expected in the June quarter.

• No fieldwork at Canadian lithium projects during the quarter.

• Ongoing review of new project opportunities in WA and internationally.

Segment performance

• Newington: Six drill-ready prospects identified; significant gold intercepts at Dawsons and Newfield East, with 3D geological modelling completed.

• Challa: 20 rock chip samples collected, notable results include up to 3.38g/t 2PGE and anomalous gold, copper, molybdenum, tin, and nickel; 505 soil samples collected, assays pending.

• Canadian projects: No fieldwork at Reid-Aylmer, Greenbush, or Barbara Lake lithium projects.

Significant events and developments

• Appointment of Ryan Sebbes as Joint Company Secretary, effective 14 April 2025.

• Release of 2024 Annual Report and Corporate Governance Statement.

• Annual General Meeting scheduled for 27 May 2025, with resolutions on remuneration, director re-election, placement facility, auditor, takeover provisions, incentive plan, and termination benefits.