1. Sian Gold Project – Ghana BRIEF SUMMARY June 2009

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

3. Major Gold Deposits in Africa Largest Gold Producer 2 nd Top Gold Producer 3 rd Top Gold Producer Focused on gold in Ghana and Tanzania – 2 stable countries Quality gold projects 400,000 oz on a fully permitted past producer in Ghana with a 30 year mining lease 3

4. 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 4

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) 5

6. Priority Project: Sian Presentation will focus on priority project: Sian, Ghana Most advanced, early term ROI Sian: past gold producer with a 93% gold recovery rate Just 30 km north of Newmont Mining’s 8.7+ million oz Akyem gold deposit on the Ashanti Gold Belt Infrastructure, power, roads, water, and CIL (Carbon in Leach) plant 30 year renewable mining lease with 17 years remaining Sian resource has the potential to reach over 1 million oz in the next 12 months 6

7. Aiming for a Multimillion oz Deposit Sian Sian: 50 sq km of prime ground in elephant country Gold resource on the Sian project: 400,000 oz resource Additional 700,000 oz in gold potential Only 10% drilled to date Dixcove Granites – part of the geological structure 7

8. Sian Plant

10. Sian Open Pit

13. Priority Project: Sian Sian Gold Project Completely surrounded by Newmont Mining In open pit gold production 2000 to 2003 93% gold recovery rate at 2.3 g/t No refractory gold Fully permitted Need to increase tonnage and bring Sian back into production by the end of 2010 Estimated timeframe to production: 12 months from date of financing Sian Processing Plant, Ghana; April 2007 13

14. Sian Plant

18. Focus on Sian What we need to do concurrently: 1.Prove up a minimum of 1 million oz of gold on direct extensions of the Sian gold deposit and drill test new zones to: -Increase indicated resource (infill drilling and drilling at depth) -Upgrade to a measured category (definition drilling) -Complete a scoping study and update the feasibility study (bankable) 1.Engineering review of CIL plant to determine costs of re-commissioning (bankable report) 2.Airborne VTEM survey over Sian to accelerate drilling 18

19. Goal: Gold Production on Sian by the end of 2010 Targets and objectives Expected initial production: 12 months away –Initially 2,000 tonnes / day x 300 days = 600,000 tonnes per year –93% gold recovery rate –600,000 tonnes at 2.3 g/t = 44,516 oz of gold in year 1 Expected revenues –Assume gold at $850 USD per oz –Gross revenue at $850 per oz = $38 million USD –Production cost at $350 per oz = $16 million USD Revenue net of costs per oz – year 1 –$22 million USD 19

20. Technical Partnerships Midlands team: best in geology, best in operations – We know Africa well Midlands is partnered with a strong engineering company to move the Sian project forward Engineering partner knows Africa well and has –Operational experience –Project management experience –Technical and engineering expertise –Knowledge of Ghana –Track record in bringing properties to production 20

21. Financing Requirements For Sian Up to $5 million USD required in the next 12 months To achieve the following: –At least 1 million oz –A scoping study and a bankable updated feasibility study –A bankable technical report on the existing CIL plant –A VTEM air magnetic and radiometric survey to accelerate further drilling to grow the resource –Take Sian to a production decision 21

22. Use of Funds: $5 million Sian $3 million – up to 20,000 metres of drilling –Definition drilling: 10,000 metres –Infill drilling: 5,000 metres –Engineering and condemnation drilling: 3,000 metres –Contingency: 2,000 metres $500,000 – engineering metallurgical testing $250,000 – scoping study and update of feasibility study $250,000 – airborne VTEM and radiometric survey $200,000 – resource/reserve calculation and update $800,000 – working capital 22

23. 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

24. Other Information

25. Directors Edward A. Harris (Chair) - Vice-President and portfolio manager with McLean Budden Ltd. since 1990 - 34 years of experience in the financial services industry Kim F. Harris, MA (Vice Chair) - Founder of Midlands - Over 20 years of 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. 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 - Financial Consultant 25

26. 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 26