Midex Gold Corp.
OTC Bulletin Board : MDXO

July 28, 2009 11:10 ET

Midex to Confirm That Phase One Exploration Yielded 41 Diamonds and Diamond Cleavages

DAR ES SALAAM, TANZANIA--(Marketwire - July 28, 2009) - Midex Gold Corp. (OTCBB:MDXO) (www.midexgold.com), announced today the company will review the gemological results which confirmed the presence of diamondiferous alluvial gravels from the Magembe diamond property in the Shinyanga District of northwestern Tanzania. "The objective is to evaluate indicated diamond potential from both alluvial and kimberlitic sources," stated Morgan Magella, president of Midex.

REVIEW OF PHASE ONE SHOWS POSITIVE RESULTS

To date, 60 samples weighing a total of 12.4 tonnes were processed, out of a total of 45.9 tonnes of alluvial gravels and 220 samples collected during the exploration conducted in 2008. A total of 41 diamonds and diamond cleavages were recovered from 12 of the 60 samples, with the largest stone weighing 0.22 carat. The positive results were evenly spread over the sample region, confirming the presence of diamondiferous gravels within the 900 meters by 100 meters area from where the processed samples were collected."

Of note is that these recovered diamonds represent two distinct sources due to the natural soil erosion, which means that some travelled long distances from their original host kimberlite, and some only a short distance. This is significant, as Magembe lies only five kilometers south east of the famous Williamson kimberlite pipe. The Williamson mine is owned 75 per cent by De Beers and 25 per cent by the government of Tanzania. It's been in production since the 1950s and at the time of its discovery, the Williamson pipe was considered to be the largest economically exploitable pipe. The mine is also is famous for its pink diamonds and produced some big stones, including a 388 carat diamond.

Some of the Magembe diamonds could also have come from diamondiferous pipes identified by government research on the northern region of the Magembe property. Or it is possible that they could have come from even further afield. Additional samples will be processed and these should reveal more information about the potential of the Magembe prospect.

ABOUT MIDEX GOLD CORP.

Midex Gold is positioned to take advantage of Tanzania's rich mineral resources by developing a select portfolio of near-term gold and diamond production projects. With the company's network of strategic relationships with senior mining professionals and government officials in Tanzania, it is poised to identify key mining concession targets that are ready to be developed.

FORWARD LOOKING STATEMENT

No Exchange has either approved or disapproved of the information contained herein. This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control and actual results may differ materially from the expected results. The Company does not expect to update forward-looking statements continually as conditions change. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's quarterly filings with the SEC and other periodic filings.

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