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September 2009 Investor Presentation

September 2009 Investor Presentation. Forward-Looking Statement.

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September 2009 Investor Presentation

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  1. September 2009Investor Presentation

  2. Forward-Looking Statement Certain statements contained in the following presentation constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from actual results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. Readers are also advised to consider such forward-looking statements while considering the risks inherent in the business of exploration.

  3. TSX-V: MEX • Focused on gold in Ghana and Tanzania • 53.5 million shares O/S • Experienced Board & Management • We know Africa well • Company Strategy • Politically stable countries • History of gold mining • Acceptance of mining by locals • Permitting & tenure laws • Objective: grow our assets into multi-million oz deposits • Over 100 years of combined African experience • Over 90 years of combined geological African experience 2nd Largest Gold ProducerGHANA Largest Gold Producer 3rd Largest Gold ProducerTANZANIA

  4. TSX-V: MEX Shares outstanding 53.6 million 52 week high $0.23 52 week low $0.075 Midlands vs. S&P/TSX Venture Composite Index – 1 Year

  5. Priority Project: Sian, Ghana • Sian on Ashanti Gold Belt • Sian contains two previous open pit • mines and a 400,000 oz resource at • 2.3 g/t • 30 km NE of Newmont’s Akyem • 8.7+ million oz deposit • Production capital costs minimized • by existing mine infrastructure • Drill results show significant • exploration upside potential • Other Ghana Projects: • Kwahu Praso (Ashanti Belt) • Kaniago (Asankrangwa Belt)

  6. Gold Projects: Tanzania • Tanzania: Gold & Diamonds • Lake Victoria Goldfields: • Area with over 50 million oz in gold reserves • Itilima Project (43-101): gold and diamonds • Lwenge/Geita Gold Project • Kishapu • Lalago • Other properties in Tanzania: • Vukene • Kilindi

  7. Priority Project: Sian Here is what we have: • Sian – a fully permitted past-producing open pit gold mine on the Ashanti Gold Belt in Ghana • A 400,000 oz gold deposit with potential to grow to at least one million oz • Existing CIL gold processing plant • A renewable 30 year mining lease • Completely surrounded by Newmont Mining • A feasibility study done in 1995– currently being updated by EPC Engineering and Projects Company Limited (SA)

  8. Aiming for a Multimillion oz Deposit • Ghana • Sian & Kwahu Praso are contiguous licences • 160 sq km of prime ground for gold • Current NI 43-101 Resource • 400,000 oz gold deposit @ 2.3 g/t • 800,000 oz in gold potential from preliminary drilling to be tested • Analysis of drill sections to be confirmed in next drill program • Only 10% of target areas drilled to date

  9. Sian Open Pit

  10. Sian Processing Plant

  11. Sian Power Is in Place

  12. Sian Infrastructure Is in Place

  13. Sian Gold Project Sian: • Potential multimillion oz deposit supported by geology, dixcove granitoids • 16 km strike length gold anomaly, less than 10% drilled to date • Sian structures extend into contiguous Praso project (100% Midlands) • 14,000 metres of drilling since October 2006 • 400,000 oz @ 2.3 g/t based on drilling to 120 m • Double digit grades below 120 m Short-Term Plan • Infill drilling in the pit, expand gold deposit to at least 1 million oz • Scoping study followed by update/validation of feasibility study (underway) • VTEM to accelerate drilling

  14. Comparable Companies Name/Symbol Countries Minerals Mkt Cap C $ M 52 wk High/Low C $ Resource oz Au Shares O/S Midlands Minerals Corporation Ghana Gold 10.2 0.23/0.075 400,000 53.6 milTSX-V: MEX Tanzania Diamonds PMI Gold Corporation Ghana Gold 14.3 0.19/0.01 (n/a) 118.9 milTSX-V: PMV Pelangio Exploration Inc. Ghana Gold 29.8 0.435/0.025 (n/a) 78.4 mil TSX-V: PX African Gold Group, Inc. Ghana Gold 9.2 0.64/0.03 (n/a) 59.3 mil TSX-V: AGG Mali Adamus Resources Limited Ghana Gold 24.1 0.325/0.26 + 1,000,000 92.6 mil TSX-V: ADU Australia Diamonds Tasmania AMI Resources Inc. Ghana Gold 2.5 0.085/0.01 122,000 32.2 mil TSX-V: AMU Canaco Resources Inc. Tanzania Gold 2.5 0.19/0.02 (n/a) 48.4 mil TSX-V: CAN Mexico Diamonds Silver

  15. Why We Are Different • Quality projects and locations • Near-production past open pit gold producer – Sian – Ghana • 40% institutional investment support • Politically stable gold producing countries • Focused on gold • No debt

  16. Next Steps 2009/2010 • Focus on existing known drill targets to expand gold deposit to increase 400,000 oz to at least 1 million oz • Up to 20,000 metres of drilling planned • Sian Main Zone – up to 12,000 metres • Drilling of waste dumps – 2,000 metres • Test down plunge extensions of main lenses below 120 m • Infill drilling to increase quality of resource to measured & proven • Test at greater depth • New zones and extensions – 2,000 metres • Mpeyo zone and extensions – 2,000 metres • Kwahu Praso – 2,000 metres • Airbone VTEM survey to accelerate drilling for a multi-million oz deposit

  17. Financing Required & Work Plan • Up to USD $6 million • Expand gold resource to at least 1 million oz • Infill drilling within the pit • Infill drilling on northern and southern extensions • Drill at depth – below 120 metres • Extend northern and southern extensions

  18. Financing Required & Work Plan • Focus on known areas • Shaded areas are scout test drilling areas to expand the resource • At least 20% of the resource to be upgraded to measured category

  19. Results Expected • Increase the indicated resource on Sian to at least one million oz • Upgrade at least 20% to measured and proven resource • Complete scoping study and update Sian feasibility study • Complete a VTEM airborne survey to accelerate drilling on Sian and Praso

  20. Use of FundsPriorities – Sian/Praso Sian • 2,000 metres drilling on waste dumps (RC) • Up to 12,000 metres on Sian Main Zone • Test down plunge extensions below 120 m • Infill drilling in the pit (DDH) • Increase the resource • Upgrade resource to measured/proven • Test at greater depth (DDH) • 2,000 metres new zones and extensions (RC) • 2,000 metres - Mpeyo zones and extensions (RC) Praso • 2,000 metres Sian/Praso • VTEM airborne survey • Approximately 1,000 line kilometres • Data interpretation

  21. Use of Funds (USD)Ghana and Tanzania Ghana Ghana property payments $100,000 Sian drilling (RC & DDH) 3,250,000 VTEM Sian/Praso – 1,000 line km 250,000 Kaniago 250,000 Tanzania Soil surveys and property maintenance 200,000 Corporate Working capital 1,000,000 Contingency 450,000 Total:USD $6 million

  22. Use of Funds

  23. Key Management • Kim F. Harris, MA – President and CEO- Founder of Midlands • - Over 20 years of experience in Africa, including 12 in exploration • Pierre Lalande, PGeo – Senior Geologist- Chief Geologist for IAMGold Corp. from 1994 to 2001- Previously with Watts, Griffis and McOuat Ltd.- Over 35 years of international geological experience, with extensive experience in West Africa • Paul E. Singer, CA – CFO- Over 30 years’ experience as a CA in private practice • Isaac T. Adjovu (Geologist) – Regional Exploration Manager, Ghana- Over 20 years of experience in Africa- Experience as a Consulting, Exploration, and Senior Geologist with BRGM, Ashanti, and Newmont Mining- Chief Executive of Geodita Resources Ltd. for over six years • Constantine Moshy (Geologist) – Exploration Manager, Tanzania- Over 30 years of experience in exploration and geology- Has worked with the Ministry of Energy and Minerals and as a Chief Field Exploration Geologist with a private company • Naomi Benedikt – Controller and AVP Administration- Many years of experience in management and accountancy, previously a Controller in large property management firms • EPC Engineering and Projects Company – Project Manager and Operator- Broad African experience in project engineering, plant operations and project management

  24. Directors • Edward A. Harris – Chair - VP and Portfolio Manager with McLean Budden Ltd. since 1990, with 34 years of experience in the financial services industry • Kim F. Harris, MA – Vice Chair- Founder of Midlands, with over 20 years of business experience in Africa, including 12 in exploration • Pierre Lalande, PGeo- Chief Geologist for IAMGold Corp. from 1994 to 2001, previously with Watts, Griffis and McOuat Ltd.- Over 35 years of international geological experience, with extensive experience in West Africa • Darryl Levitt, LLB- Of Counsel with McLeod Dixon LLP- Extensive experience with financings, mergers, and acquisitions in the mining sector- Several years’ experience in mining and securities law; licenced to practice in Ontario and South Africa • R. John Carruthers- Director of Industrial Business Development with Casebank Technologies Inc. from 1999 to 2004- Former Manager with Deloitte & Touche until February 1999 • Mark B. Keatley, MBA, MPhil, MA- CFO of Ashanti Goldfields Ltd. from 1994 to 2000- Senior management positions in International Finance Corporation, World Bank, Ford Motor Company, UK • Karl Schmed- President, Global Colour Link & Associates • Noel Nedrick- Former commercial banker with TD Bank

  25. Contact Information • Head Office • 1210 Sheppard Avenue East, Suite 302 • Toronto, Ontario • Canada M2K 1E3 • Tel: +1 416 492 6992 • Fax: +1 416 492 6993 • E-mail: info@midlandsminerals.com • www.midlandsminerals.com • Accra, Ghana • Aviation House, Suite 203 • PO Box 30679, KIA • Accra • Ghana • Tel: +233 (0) 21 772 441 • info@midlandsminerals.com • Shinyanga, Tanzania • PO Box 1175 • Shinyanga • Tanzania • info@midlandsminerals.com Sian, Ghana; April 2007

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