Midex Gold Corp.
OTC Bulletin Board : MDXO

August 10, 2009 14:12 ET

Midex Gold Corp Update: 5 for 1 Forward Split

DAR ES SALAAM, TANZANIA--(Marketwire - Aug. 10, 2009) - Midex Gold Corp. (OTCBB:MDXO) (www.midexgold.com), Updates shareholders on 5 for 1 forward split as released July 30, 2009.

The company informs shareholders that the 5 for 1 forward split is delayed while waiting on FINRA approval and processing. Management expects approval shortly and will inform shareholders as soon FINRA provides an effective date.

MIDEX'S MAGEMBE DIAMOND PROPERTY DIRECTLY ADJACENT TO DE BEERS' WILLIAMSON (MWADUI) MINE

The Magembe Diamond Property is part of a two kilometer buffer zone surrounding the world-renown Williamson (Mwadui) Diamond Mine that was created as part of the original mine development in the 1940s and 50s. Local artisanal mining operations were previously active in recovering diamonds from surface alluvial deposits on the western boundary of the Magembe property. Because of the past local native mining activity, the recent 80 carat diamond discovery, and our 2008 exploration results, management believes there's considerable potential for a commercially profitable diamond mine. To date a total of 41 diamonds and diamond cleavages were recovered from 12 of the 60 samples gathered during our 2008 exploration program.

WORLD'S LARGEST DIAMOND PIPE

The Williamson (Mwadui) Mine is currently owned 75% by De Beers and 25% by the Government of Tanzania, and has a production history that spans six decades. The Williamson (Mwadui) kimberlite pipe covers 360 acres and at the time of its discovery in 1940, was considered to be the largest economically exploitable pipe in the world. The mine is renown for its original source of pink diamonds and has produced notable stones including a 54-carat flawless pink diamond and a 388-carat diamond found in 1990.

NEXT TO DE BEERS WORLD-RENOWN WILLIAMSON MINE

The Williamson Mine is currently owned 75% by De Beers and 25% by the Government of Tanzania, and has a production history that spans six decades. The Williamson pipe covers 360 acres and was considered the largest economically exploitable pipe in the world. The mine is notable as the original source of pink diamonds and has produced famous stones including a 54 carat flawless pink diamond, and a 388 carat diamond found in 1990.

ABOUT MIDEX GOLD CORP.

Midex Gold is positioned to take advantage of Tanzanias rich mineral resources by developing a select portfolio of near-term gold and diamond production projects. With the companys 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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