Transformational Acquisition

Midas has entered into an agreement to acquire the ~1,776km² high-grade Otavi Copper Project and holds an option over the ~194km² South Otavi Project in Namibia.

The Otavi Project has exceptional exploration upside, with an abundance of historic shallow, high-grade drill intercepts including 17.2m at 7.24% Cu and 144.4g/t Ag, and significant untapped potential for future discoveries due to modern exploration covering <40% of the tenure.

Midas is actively preparing to commence drilling immediately upon completion of the acquisition.

Further reading (ASX Announcements):

• 19/05/2025 – Midas extends footprint in Otavi, Namibia
• 16/05/2025 – Otavi Project Investor Presentation
• 16/05/2025 – Transformational Project Acquisition

Otavi Project location and Namibian infrastructure and deposits

Tenement groups and geological setting – Otavi Fold Belt

Drill core image of high-grade copper and silver mineralisation 131.2m–136.6m (ODDH15)

Previous drilling at T-13 (ODDH – 32)

Drone image showing T-13 location

Otavi town with railway

Walvis bay deep-water port

Core shed with 56km of previous drilling from NEXA

High-voltage powerline nearby project

Railway nearby project

Excellent roads in the region