Midex Gold Corp.
OTC Bulletin Board : MXGD

October 01, 2009 16:14 ET

Midex Updates Shareholders on the Magembe Exploration Program and Managements Plans for Growth

DAR ES SALAAM, TANZANIA--(Marketwire - Oct. 1, 2009) - Midex Gold Corp. (OTCBB:MXGD) (www.midexgold.com),

MAGEMBE EXPLORATION PROGRAM

To date 15 tonnes have been collected in 90 samples amounting to one third of the targeted sampling program. Although the program got off to a slow start management is pleased with the current pace of work. Company President Morgan Magella stated "We are anxious to complete this phase one program and to have the samples analyzed. There was big news from Petra this week having found a 507 carat diamond at their Cullinen mine in South Africa. The diamond market is heating up".

http://www.telegraph.co.uk/news/worldnews/africaandindianocean/southafrica/6242778/One-of-the-biggest-diamonds-ever-found-discovered-in-South-Africa.html

GROWTH PLANS

As the Company is based in Tanzania, which is one of the fastest growing countries in the world for mineral exploration, the company has begun looking at gold prospects through out this mineral rich country. "With Tanzania having some of the largest gold deposits in the world and the price of gold trading above $1000 per ounce, this is the perfect time to look at high quality gold prospects" stated Company President Morgan Magella.

Mr. Magella has spent the past 10 days on five property visits and hopes to be able announce the companies move into gold exploration very soon.

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

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.

No Exchange has either approved or disapproved of the information contained herein.

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