Announces Share Purchase Plan

Midas Resources (ASX: MDS) is pleased to announce the commencement of a Share Purchase Plan (SPP) underwritten by Patersons Securities for A$1 million. The SPP entitles all shareholders registered as at 5:00pm (AWST) on Monday 3 September 2007 with an Australian address to subscribe for additional fully paid ordinary shares in the Company, without brokerage or other transaction costs.

Money raised under this SPP will be used to fund a drilling programme at the Company’s Bindah Prospect at Lake Carey, as announced to the market on 20 August 2007. The programme is looking for high-grade orebodies and the initial RC drilling undertaken by the Company, including a drill hole which contained 8m @ 10.5g/t Au, has confirmed the prospectivity of this area.

In addition to Bindah the Company is working up the Intrepid target at Lake Carey for drilling later in 2007 and evaluating drill targets at the Waitara copper-molybdenum prospect in Queensland.

All Directors intend to participate in the SPP for the maximum amount.

Questions regarding the information contained in this announcement or associated documents should be directed to Managing Director Geoff Balfe on 08 9388 2211.