1. Investor Presentation November 2008

2. 2 Disclaimer 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 and the readers are also advised to consider such forward looking statements while considering the risks inherent in the business of exploration.

3. Gold as a Safe Haven Why Invest in Gold? Gold as a safe Haven Gold and precious metals have not collapsed Gold is historically a safe haven; a hedge against inflation Analysts predict gold price will rise above $1,000 per oz Fewer new gold discoveries and mature exploration in North America Most companies now with properties offshore – Africa, Asia, China Lowering your risk –Invest in gold companies in the most prospective areas –Invest in gold companies with superior real estate for gold –Invest in gold companies that have superior boards and technical teams –Invest in gold companies that understand the countries they are operating in 3

4. Midlands Minerals Well managed junior gold company run by a proven successful management team Operates in stable countries with a long history of gold mining and has a portfolio of highly prospective gold properties and secure licenses –Ghana300 sq km –Tanzania 1,400 sq km The Company has a significant gold deposit on its Sian project in Ghana The Sian project is rapidly moving towards gold production while exploration continues to expand the current 400,000 oz resource Target – 1 million ounces in 18 months (subject to financing) 4

5. An Experienced Team Key Management Kim F. Harris, President and CEO – Founder of Midlands Minerals Joe B. Hinzer, M.Sc., P.Geo., COO – President of Watts, Griffis and McOuat Paul Singer, C.A., CFO – C.A. with over 30 years of experience A seasoned field team in Africa 5

6. Market Performance 6 Midlands 6 month Comparison with S&P/TSX Venture Composite Index Source: TSX.com LEGEND MEX S&P/TSX-V

7. Independent Research Puts Midlands in Top 20 out of 40 Junior Explorers Haywood Securities’ Junior exploration Index (HJEI) –Midlands one of 40 junior exploration companies covered by Haywood Securities –HJEI tracks the performance relative to markets Midlands Minerals –# 13 in Top 20 Juniors under Year-To-Date Performance –# 10 in the Top 20 Juniors under Quarter-To-Date Performance 7

8. Capital and Share Structures 8 Share Structure Issued and Outstanding Shares53.0 m Options4.2 m Warrants5.8 m Fully Diluted63.0 m Capital Structure Institutions40% Insiders 19% Others 41%

9. Major Gold Deposits in Africa largest gold producer 9 2 nd top gold producer 3 rd top gold producer Focused on gold Ghana Tanzania: Two geopolitically stable countries Quality gold projects

10. Exploration Strategy Gold (and diamonds) Politically stable countries High geological prospects –History of gold mining Secure tenure for licenses Fair and favorable tax regime Superior infrastructure (roads, power, transportation) Access to trained local personnel Social acceptance of mining by locals 10

11. Investment Opportunity A fully permitted gold project (a past open pit gold producer) in elephant country - Ashanti Gold Belt - Ghana 400,000 oz of gold and poised to go over one million oz Processing plant, infrastructure already in place Price of gold poised to go to $1,000+ an oz Cost of producing an oz of gold in Ghana - $325 per oz Sian Project – increase oz and start production –Cost of infrastructure – Minimal –Cost of relocating villages – Zero –Permitting costs – Zero –Mining lease - Already in place 11

12. 12 Gold in Ghana Sian/Praso on Ashanti Gold Belt; host to 120 mil oz 30 km NE of Newmont’s Akyem 8.7 mil oz deposit (right distance for a major find) Kaniago: right distance from the Obotan 2.8 million ounce deposit

13. 13 Gold in Tanzania Lake Victoria Goldfields On trend with with Geita (18+ mil oz) and Bulyanhulu (15+ mil oz) Itilima, Kishapu, & Lalago Gold and diamond projects 20 km south of Williamson diamond mine (20+ mil carats) Highly prospective for both gold and diamonds Drilled 2 diamondiferous kimberlites Indicator minerals Right chemistry for diamonds

14. 14 Priority Projects: Sian/Praso Presentation will focus on priority projects: Sian/Praso, Ghana Most advanced, early term ROI Sian - past gold producer with a 91% recovery rate Just 30 km north of Newmont Mining’s 8.7 mil oz Akyem gold deposit on the Ashanti Gold belt Infrastructure, power, roads water and CIL (Carbon in Leach) plant 30 year mining lease Sian resource has potential to reach + 1 million oz in the next drilling program

15. 15 Sian/Praso Projects Sian/Praso, Ghana Contiguous permits, completely surrounded by Newmont 16 km continuous soil anomaly between Sian/Praso Same geology and graphitic structure as Newmont’s Akyem with 8.7 mil oz Only 10% drilled to date 16km

16. 16 Sian: Fully Permitted Months away from gold production 30 year mining lease Villages already relocated Roads, power, all infrastructure in place 400,000 oz resource targeted to reach 1+ million ounces with next phase of drilling CIL plant built in 2001 by Sian Goldfields Limited Real Value

17. 6/28/2015 17 Sian Plant

18. 6/28/2015 18 Sian Plant

19. 6/28/2015 19 Sian Plant

20. 6/28/2015 20 Sian Plant

21. Investment Decision Points Early Exploration - Soil Surveys - Geological Mapping - Geological data review - Target generation Exploration Drilling - Exploration Drilling - Resource Generation - Definition Drilling -Resource Categories Feasibility Study Mine Development High Risk Decreasing Risk

22. 22 Sian: Two Types of Gold Mineralization 2.0 g/t Au / 7 meters10.8 g/t Au / 7 meters Bulk grade gold type Carbonate-Potassium-Pyrite High-grade gold type Quartz flooding with Pyrite and Chalcopyrite

23. 23 Work Done to Date Sian/Praso, Ghana 14,000 Meters Drilled - 2007/2008 5 new gold zones discovered 16 km strike length of continuous gold soil anomalies yet to be drill tested Over 14,000 soil samples assayed The gold resource on Sian has gone up: –From 100,000 oz to 192,400 oz – indicated: 2.33 g/t avg. grade –From 100,000 oz to 203,350 oz – inferred: 2.35 g/t avg. grade Yet to be drilled soil results with grades of up to 2 g/t Large open ended soil anomalies = high potential for discovery Near Term Objective: Further drilling is expected to grow the gold deposit on Sian/Praso to at least 1 million oz of gold in the short term

24. Short Term Realistic Target: 1,000,000 oz of Gold 3 Good Reasons i.NI 43-101 resource estimation (May 2008) recommends infill drilling in the Esaase Pit i.Previous owners drilled to 120 meters deep i.Midlands up to 350 meters deep with double digit values at depth ii.New gold zones discovered 24

25. 25 Short Term Target: 1,000,000 oz Realistic Target Sian/Praso in same geology as Newmont’s 8.7 mil oz Akyem deposit 16 km continuous soil anomaly Only 10% of anomaly drilled to date 400,000 oz of gold with average grade of 2.4 g/t Indicated (2,568,000 tonnes @ 2.33 g/t) Inferred (2,694,000 @ 2.35 g/t) 16km

26. 43-101 Infill Recommendations 26 43-101 Recommendations to increase the resource Infill drilling in the pit Drill beyond the previous 120 meter level Esaase Open Pit

27. 27 Moving Towards 1,000,000 oz on Sian, Ghana Drilling Below 120 meter level Continuity of Grades at Depth: 2007 drilling: –10.81 g/t over 7m from 174m – 181m –24.3 g/t over 3m from 178m – 181m –2.08 g/t over 11m from 155m - 166m –4.8 g/t over 5 m from 180m - 185m 2008 drilling: –15.13 g/t over 2 m from 100m - 102m –11.22 g/t over 2 m from 47m - 49m –1.97 g/t over 2 m from 22m - 24m –2.21 g/t over 3 m from 6m - 9m

28. Sian Infill Drilling Program

29. Plan Forward: New Drill Targets 29 Priority drill targets identified Scouting in shaded areas Still covering less than 10% of anomalies

30. Financing Requirements Up to $3,000,000 To get to 1+ million ounces of gold on Sian/Praso To conduct an engineering review/prefeasibility on Sian To get the Sian project ready for gold production by 2010 30

31. Use of Funds Up to $1,700,000 for definition infill drilling to increase the gold resource to over one million ounces Up to $300,000 to complete a bankable engineering review of the CIL plant and get it ready for re-commissioning Up to $250,000 to conduct an airborne survey to accelerate drilling Up to $400,000 working capital Up to $350,000 for contingency 31

32. Return on Investment Get to 1 million oz of gold in 18 months Re-commission the CIL plant Commence production of gold and create a revenue stream 400,000 oz @ $100 per oz in the ground = $40 million $3 million will increase the resource to 1 million oz 1 mil oz @ $100 per oz in the ground = $100 million 32

33. 5 Good Reasons to Invest in Midlands Under-valued gold company with superior gold assets –Current share price is a deal Two safe gold producing countries – Ghana and Tanzania A focused and experienced management team Well thought out exploration strategy Early return on investment 33

34. Other Corporate Information

35. 35 Board of Directors Kim F. Harris Founder of Midlands Minerals Over 20 years of business experience in Africa, including over 12 years in exploration Edward A. Harris (Vice Chair) VP and Portfolio Manager with McLean Budden Ltd. since 1990 Over 30 years experience in the financial industry Mark B. Keatley CFO of Ashanti Goldfields Ltd. from 1994 to 2000 Currently CFO of a UK based firm Karl Schmed President, Global Colour Link & Associates Pierre Lalande, P.Geo. Chief Geologist for IAMGold Corp. from 1994 to 2001 Previously Senior Geologist, Watts, Griffis and McOuat, Ltd. R. John Carruthers Director of Industrial Business Development with Casebank Technologies Inc. from March 1999 to early 2004 Manager with Deloitte & Touche until February 1999 Karl Schmed President, Global Colour Link & Associates Noel Nedrick Financial Consultant

36. 36 Head Office 1210 Sheppard Ave East, Suite 302 Toronto, Ontario M2K 1E3 Tel: 416-492-6992 Fax: 416-492-6993 Email: info@midlandsminerals.com Website: www.midlandsminerals.com Investor Relations: www.agoracom.com/ir/MidlandsMinerals Accra, Ghana P.O. Box 30679, K.I.A. Aviation House, Suite 203 Accra, Ghana Shinyanga, Tanzania P.O. Box 1175 Shinyanga, Tanzania How to Contact Us