Toronto, Ontario - April 24, 2014: Midlands Minerals Corporation ("Midlands" or the "Company") (TSX-V: MEX) is pleased to announce that, further to its April 7, 2014 press release in which the Company announced it had entered into a definitive agreement (the "Option Agreement") with Reservoir Minerals Inc. ("Reservoir"; TSX-V: RMC) for an option to earn up to a 75% interest in Reservoir's Parlozi Zinc-Silver-Lead Project (the "Project") in Serbia (the "Transaction"), it has now received approval for the filing of this transaction by the TSX Venture Exchange and has therefore met all of the closing conditions.
The joint technical committee is currently finalizing the work program and six month budget which includes the completion of drill planning to meet the 1,500 metre minimum drill commitment under the Option Agreement. Permitting for drilling is already in place.
Dr. Dominique Fournier, EurGeol, a "qualified person" as defined by National Instrument 43-101, has reviewed and approved the technical information and data included in this press release.
About Midlands Minerals Corporation:
Midlands is a Canadian resource company with common shares that trade on the TSX Venture Exchange under the symbol "MEX". The Company identifies global mineral projects that are described as having exceptional exploration potential, and undertakes exploration based on industry best practice to investigate and release this value for shareholders.
The Parlozi Project, the Company's flagship, is a 91 square kilometre exploration permit which is conveniently located 35 kilometres south of Belgrade, the capital of Serbia. The Parlozi permit covers occurrences of historical lead-zinc-silver mining in the Kosmaj-Babe area of the Sumadija mining district in central Serbia. The mineralization in the permit comprises silver-bearing vein and replacement-type lead-zinc sulphides hosted by carbonate sedimentary rocks associated with intrusive Tertiary quartz latite dykes and volcanic breccias. This type of mineralization has long supported lead-zinc-silver mining operations in the region. Additional information on Midlands can be viewed under the Company's profile at www.sedar.com or on Midlands' website: www.midlandsminerals.com which is currently under re-construction.
FOR ADDITIONAL INFORMATION PLEASE CONTACT
Craig Pearman
President and CEO
Telephone: +1 604 366 2229
Email: [email protected]
Nick Tintor
Chairman
Telephone: +1 416 987 0855
Email: [email protected]
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the completion of the Transaction, the receipt of regulatory approvals, the Company's future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange, nor the OTCQX accepts responsibility for the adequacy or accuracy of this release.