April 26, 2017 6:59 PM ET

Metals and Mining

Company Overview of Midas Gold Corp.

Company Overview

Midas Gold Corp. engages in the acquisition, exploration, and development of mineral properties in the United States. It primarily explores for gold, antimony, and silver deposits in the Stibnite-Yellow Pine district of central Idaho. The company’s principal mineral project is the Stibnite gold project, which include Yellow Pine, Hangar Flats, and West End deposits comprising approximately 11,548 hectares of unpatented and patented claims located in Valley County, Idaho. Midas Gold Corp. was incorporated in 2011 and is headquartered in Vancouver, Canada.

999 West Hastings Street

Suite 890

Vancouver, BC V6C 2W2

Canada

Founded in 2011

36 Employees

Phone:

778-724-4700

Fax:

604-558-4700

Key Executives for Midas Gold Corp.

Chief Executive Officer, President and Director
Age: 57
Total Annual Compensation: C$320.0K
Chief Financial Officer
Age: 41
Total Annual Compensation: C$220.0K
Chief Operating Officer
Total Annual Compensation: C$283.1K
Vice President of Legal and Sustainability
Age: 50
Total Annual Compensation: C$245.0K
Vice-President of Development
Total Annual Compensation: C$271.5K
Compensation as of Fiscal Year 2016.

Midas Gold Corp. Key Developments

Midas Gold Commences Feasibility Study for its Stibnite Gold Project, Idaho

Midas Gold Corp. provided an update on the Feasibility Study ("FS") to be carried out on its Stibnite Gold Project ("Project"), which is located in Idaho, USA. M3 Engineering & Technology Corp. has been awarded a contract to lead the FS. Additional FS support will be provided by Blue Coast Metallurgy Ltd., Tierra Group International Ltd., SRK Consulting, Kirkham Geosystems Ltd., STRATA, and others, as necessary. The target completion date for the FS is third quarter of 2018, which parallels the advancement of the regulatory process for mine development. With the Prefeasibility Study ("PFS") and Plan of Restoration and Operations ("PRO") complete and the regulatory process for permitting of a mine underway, Midas Gold has initiated the FS, to be completed concurrent with environmental permitting. The focus of the FS is on optimizing the Project to maximize financial returns based on current metal price conditions and ongoing work being completed in support of the FS that began in mid-2016. Ongoing work, including the mineral resource optimization drilling program and metallurgical testing program will be incorporated into the FS. With the results of the recently reported mineral resource optimization drilling program now available, geological modelling has commenced; updated geological models will not only incorporate the results of this recent drilling, but will also include detailed geological and structural data from re-logging of prior Midas Gold drilling, additional assays collected from previously drilled holes, plus additional legacy technical data recovered subsequent to the completion of the PFS. These new geological models will be used as the basis for updated mineral resource estimates to be completed over the next several months. Metallurgical testing to support the FS continues, primarily focused on pressure oxidation of concentrates and subsequent gold recovery, and is scheduled to be completed in Third Quarter 2017. Geotechnical field work in support of the FS is also currently in progress and expected to continue through first quarter of 2018. Additional field and desk top studies will also be undertaken in support of the FS.

Midas Gold Announces Final Results of Winter Drill Program at Stibnite Project in US

Midas Gold has reported the final results from its 2016-2017 mineral resource optimization drilling program at the Stibnite gold project in Idaho, US. The drilling program, which was designed to enhance the mineral resources defined in the December 2014 preliminary feasibility study (PFS), has yielded overall positive results. A total of 14 HQ diameter oriented core holes totaling 2,224m were intersected as part of the winter drilling program. Of these, 13 holes were drilled in the Yellow Pine deposit area and one at Hanger Flats. The gold miner said that four holes comprised of significantly higher gold grades than predicted by the PFS block model, whereas six holes contained moderately higher gold grades than predicted, and included the best hole ever reported by Midas Gold on the Stibnite gold project. In general, antimony grades in the central and southern portions of the Yellow Pine deposit were more than the expected estimate.

Midas Gold Corp. Announces Final Results from its Fiscal 2017 Mineral Resource Optimization Drilling Program at the Stibnite Gold Project, Idaho

Midas Gold Corp. announced the final results from its fiscal 2017 mineral resource optimization drilling program at the Stibnite Gold Project, Idaho. The drilling program’s objectives were designed to enhance the mineral resources defined in the December 2014 preliminary feasibility study, and the program has delivered overall positive results. The winter drilling program consisted of fourteen HQ diameter oriented core holes totalling 2,224 meters (7,296 feet). Of these, thirteen holes were drilled in the Yellow Pine deposit area and one at Hanger Flats. Four holes contain significantly higher gold grades than predicted (by the PFS block model) and six holes contain moderately higher gold grades than predicted, and as previously announced, included the best hole ever reported by Midas Gold on the Stibnite Gold Project. In general, antimony grades in the central and southern portions of the Yellow Pine deposit exceeded expectations. The drilling program focused on a number of objectives based on recommendations contained in the 2014 PFS that outlined opportunities that had the potential to enhance Project financial returns, extend Project life and de-risk the projected production. These opportunities included: Better defining the shallow, high grade mineralization in the core of the Yellow Pine deposit; Conversion (through additional drilling) of inferred mineral resources located within the PFS mineral reserve pits into indicated mineral resources and mineral reserves; Conversion (through additional drilling) of inferred mineral resources located outside, but immediately adjacent to, the PFS mineral reserve pits into indicated mineral resources and mineral reserves; and advancing current prospects that carry no mineral resource at present towards defining mineral resources with the objective of increasing payable gold and Project NPV. The first two objectives were successfully met and the third and fourth objectives were only partially met as successful drill results in the earlier part of the drill program warranted additional focus in the areas beneath the former open pit at Yellow Pine. Additional drilling may be conducted at a later date to advance all of these objectives, including at the other deposits that comprise the Stibnite Gold Project.

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