TORONTO, ONTARIO--(CCNMatthews - Oct. 31, 2006) - Kim Harris, Chief Executive Officer, Midlands Minerals Corporation (TSX VENTURE:MEX) ("Midlands" or the "Company") is pleased to announce the Minister of Lands, Forestry and Mines in the Republic of Ghana, has approved the transfer of the Sian Mining Lease and open pit gold mines from Sian Goldfields Limited to Akroma Gold Company Limited ("Akroma"). Midlands holds a 65% interest in Akroma. 35% is held by Sian Goldfields Limited.
Sian, a past gold producer in Ghana, has a resource of approximately 200,000 oz on the Esaase open pit mine, of which 100,000 oz is an indicated resource (1,300,000 tons at 2.3 g/t Au) and 100,000 oz an inferred resource (0.5 mil tons @ 5.7 g/t Au). The resource was reviewed by Marc Boisvert, P. Eng, Midlands' Vice President Exploration and a Qualified Person within the meaning of National Instrument 43-101.
The Sian property is contiguous to Midlands' Kwahu Praso, together forming a 160 sq kilometre package of prime exploration ground. Sian/Praso are 30 km north of Newmont Mining's 8 million + oz gold deposit at Akyem. The gold mineralization at Sian is a silica-carbonate with disseminated pyrite alteration, similar to that found at Newmont Mining's Akyem property.
"We are pleased to have the approvals; all the pieces are in place now. We are excited about the prospects and the opportunities presented by the Sian/Praso package. Work is scheduled to begin on Sian/Praso any time now and we will shortly be reporting on the work program," said Kim Harris
The scientific and technical information contained in this press release has been reviewed by Marc Boisvert, P.Eng., Midlands' Vice President - Exploration, who is a Qualified Person within the meaning of National Instrument 43-101.
Certain statements contained in this news release 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 and the readers are also advised to consider such forward looking statements while considering the risks inherent in the business of mineral exploration.The TSX-V has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.
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