Gold, Rediscovered MAX.TSX Updated Sept6/11
HIGHLIGHTS Multi-million ounce gold mineral resource already defined Open pit, high grade Potential for important by-products of silver, antimony & tungsten Open to expansion Extensions to existing deposits Discovery of new deposits Located in mining-friendly jurisdiction Idaho, USA Unknown story Potential for re-rating as Midas story becomes known & appreciated Proven management & board of directors Track record of delivering results and shareholder value 2
MINERAL RESOURCES* 4,000 4.0 Indicated Mineral Resources* (000s oz Gold) Inferred 3,500 3.5 Gold Grade (g/t) 2.00 3,000 3.0 Gold Grade (g/t) 2,500 2.5 2,000 2.0 2.30 2.27 1,500 1.5 1.81 1.48 1,000 1.0 0.94 0.93 500 0.5 0.79 - 0.0 Hangar Flats Hangar Flats West End West End Yellow Pine Yellow Pine Total Oxide Sulphide Oxide Sulphide Oxide Sulphide * See NI43-101 slide at the back of this presentation for responsibility and disclaimers. Mineral Resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to measured and indicated categories through further 3 drilling, or into mineral reserves, once economic considerations are applied.
RARITY OF >5M OZ GOLD DEPOSITS 3,000 2,500 2,000 # of Deposits 1,500 1,000 500 - < 1M oz 1-2M oz 2-5M oz 5-10M oz 10-30M oz >30M oz Contained oz of Gold Source: Mineral Economics Group, RBC Capital Markets 4
PEER ANALYSIS* Au Resources (M oz) Mkt Cap Company Project - Jurisdiction EV (C$M) (C$M) M&I Inferred Perseus Mining Central Ashanti - Ghana $1,622 $1,606 5.7 2.2 Rainy River Resources Rainy River - Ontario $915 $790 4.4 2.3 US Gold Tonkin - Nevada $835 $748 3.3 0.4 Guyana Goldfields Aurora - Guyana $783 $725 5.3 1.8 Romarco Minerals Haile -South Carolina $720 $656 3.1 1.1 Trelawney Mining Chester - Ontario $599 $512 0.0 4.2 Keegan Resources Esaase - Ghana $587 $357 3.2 1.7 Torex Gold Resources Morelos - Mexico $572 $525 3.0 0.9 Sulliden Gold Shahuindo, Peru $423 $377 2.0 1.4 Atacama Pacific Maricunga, Chile $276 $227 1.6 1.9 Average $733 $652 3.2 1.8 Midas Gold Golden Meadows - Idaho $363 $302 2.1 3.7 As at September 1, 2011 Source: Company Reports 5
Gold, Rediscovered CORPORATE INFORMATION 6
BOARD OF DIRECTORS Experience & Expertise Stephen Quin , President, CEO & Director Ex-Capstone, Sherwood, Miramar, Northern Orion Peter Nixon , Chair Ex-Goepel Shields & Partners; current director of Dundee Precious & Kimber Fred Earnest Current President & COO of Vista Gold; ex-Pacific Rim, Dayton Jerry Korpan Ex-Yorkton Securities UK, former Bema Gold director, current director of B2Gold Wayne Hubert Ex-Andean CEO, Meridian Gold VP Business Development Mike Richings Current Chair & CEO of Vista Gold; ex-Allied Nevada, Atlas, Lac Minerals Don Young Ex-KPMG, Placer Dome; current director of Dundee Precious Metals & Kimber John Wakeford Ex-Hemlo, Battle Mountain & Miramar; current Sr. VP with Sabina Gold & Silver 7
MANAGEMENT (1) Stephen Quin , P.Geo., President & CEO 30-year track record of project acquisition, advancement & value creation for shareholders President & COO, Capstone Mining President & CEO, Sherwood Copper Executive VP, Miramar Mining & Northern Orion Explorations Darren Morgans , CFO Formerly Controller with Terrane Metals Prior experience with Placer Dome, MIM Holdings & PwC Anne Labelle , VP Legal & Sustainability Previously Manager of Legal Affairs & Sustainability with Capstone Mining Was responsible for permitting and regulatory matters for Yukon & BC Mines Geologist and a lawyer Liz Caridi , Manager of IR, Corporate Secretary Previously Director of IR & Corporate Secretary with Rainy River Prior to that Corporate Communications & Compliance with Rubicon Minerals 8
MANAGEMENT (2) Chris Dail , CPG, Project Manager 25-year track record of greenfield and brownfields gold discoveries (Nevada, Alaska, Montana, Western Australia) Worked with Chevron, Cominco, Asarco, Kennecott, Anschutz, Electrum, Piedmont, Gold Crest Rick Richins , Regulatory/permitting Consultant 30 years’ experience in permitting/compliance for large mining projects in US EIS for Kensington Mine, Alaska & Thunder Mtn. (Idaho) Rochester (Nevada) and Stibnite (Idaho) EIS & permitting Beartrack, Grouse Creek, Thunder Mtn. and West End mines in Idaho Environmental audits in Alaska, Colorado, Idaho, Nevada & Washington Bob Barnes , Operations/study Consultant Former VP Operations with Capstone Mining Responsible for mine development and operation in Canada & Mexico Responsible for permitting & operation of Wharf Au Mine, S. Dakota Experienced mine operator with regulatory experience 9
SHARE CAPITAL As of August 16, 2011 Issued & outstanding 105,241,936 Vista Gold 31,802,615 (30.7%) Management, Directors, Founders 17,407,666 (16.8%) Options 7,935,000 7,585,000 @ $2.50 350,000 @ $0.19 Warrants @ $0.48 1,333,334 Fully diluted 114,510,270 Approximately C$56 million in cash 10
Gold, Rediscovered GOLDEN MEADOWS PROJECT 11
DISTRICT HISTORY 1880-1910 Thunder Mountain gold rush to NE 1920-1927 Prospecting & discovery of gold lodes 1928-1952 450,000 oz gold as by-product of tungsten & antimony sulphide milling operations 1974-1997 520,000 oz gold from heap leaching 1997-2009 District idle, fragmented title 2009 Midas acquires control of district 2009-2010 Midas exploration & data compilation 2011 Midas & Vista combine land positions 12
HISTORY OF MINING & RECLAMATION A history of mining activity & reclamation Operations date back to the 1920’s Multiple owners/operators incl. US Government direction during WWII Past owners/operators have entered into or are negotiating consent decrees to close off past disturbance liability Midas has conducted independent Environmental Site Assessments to determine the current status of the property Overall water quality is good 88 potential or recognized environmental conditions; none critical Should assist with Midas being a Bona Fide Prospective Purchaser • Limits liability, unless Midas disturbs previously reclaimed areas Midas has conducted and plans to continue conducting voluntary site remediation 13
IDAHO Mining friendly jurisdiction Ranked 5 th in US by Fraser Institute Supportive local communities Established mining district Good access Local infrastructure Streamlined permitting through established interagency Joint Review Process 14
REGIONAL SETTING Central Idaho Gold Belt past production of >8M oz of gold Porphyry-epithermal transition exposed in tilted Tertiary caldera margin setting Multiple intrusive events Basin and Range structural styles and ore controls Reactive host rocks unique to district 15
GEOLOGY, DEPOSITS & PROSPECTS Intrusive-related & sediment- hosted Au-Ag Paleozoic-age roof pendant with favorable carbonate host rocks At least 5 intrusive events documented As+Sb+W+Hg association 16
GEOLOGY SECTIONS NORTHWEST SOUTHEAST 17
PROPERTY & DRILLING 4,308 hectares: Mineral resources almost all on patented claims No royalties 2,143 holes 150,972m of drilling Mostly in historic production areas Mostly shallow holes drilled for oxides Significant gaps along well defined mineralized trends 18
HANGAR FLATS DEPOSIT Meadow Creek Fault Minera eraliz lized d Zone ne 19
HANGAR FLATS RESULTS 1927-38 ~50,000 oz of Au + Sb 17,245m of drilling (137 holes) 2,652 underground samples (4,173m) & 1,295m of trenching 2009-10 gold intercepts: 70 m @ 2.6 g/t 177 m @ 2.4 g/t 70 m @ 2.5 g/t 163 m @ 2.2g/t 71 m @ 3.5 g/t 126 m @ 2.3 g/t 70 m @ 2.6 g/t 117 m @ 2.5 g/t 70 m @ 2.5 g/t 112 m @ 2.6 g/t 68 m @ 3.1 g/t 75 m @ 4.7 g/t Resource 63 m @ 3.5 g/t 71 m @ 3.5 g/t 56 m @ 4.0 g/t 20
HANGAR FLATS DEPOSIT 21
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