RAB Special Situations L.P.

Midlands Minerals Corporation

Midlands Minerals Corporation

April 08, 2005 15:43 ET

RAB Special Situations L.P./Midlands Minerals Corporation-Announcement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RAB SPECIAL SITUATIONS L.P.

AND MIDLANDS MINERALS CORPORATION

TSX VENTURE SYMBOL: MEX

APRIL 8, 2005 - 15:43 ET

RAB Special Situations L.P./Midlands Minerals
Corporation-Announcement

TORONTO, ONTARIO--(CCNMatthews - April 8, 2005) - RAB Special Situations
L.P. ("Special Situations") announces that it has subscribed for a total
of 4,500,000 units (the "Units") of Midlands Minerals Corporation (TSX
VENTURE:MEX) (the "Company"), at a price of Cdn.$0.20 per Unit. Each
Unit consists of one (1) common share in the share capital of the
Company (a "Share") and one (1) transferable Share purchase warrant (a
"Warrant"). Each one (1) whole Warrant shall entitle Special Situations
to purchase one (1) Share (a "Warrant Share") at a price of Cdn.$0.30
per Warrant Share for a period of two (2) years from the Closing Date.
The transaction took place off the market by way of private placement
and closed on March 23, 2005.

Special Situations has ownership of and control over the securities
purchased in the Private Placement. The purchased securities represent
approximately 32.27% of the issued and outstanding Shares on a partially
diluted basis (assuming exercise of the Warrants) ("Partially Diluted
Basis").

Immediately after the Private Placement, Special Situations owned
4,500,000 Shares and 4,500,000 Warrants, representing approximately
32.27% of the issued and outstanding Shares on a Partially Diluted Basis.

Special Situations purchased securities for investment purposes only and
not with the purpose of influencing the control or direction of the
Company. Special Situations together with joint actors, if any, may,
subject to market conditions, make additional investments in or
dispositions of securities of the Company in the future, including
additional purchases of Shares. However, Special Situations and its
joint actors, if any, do not intend to acquire 20% or more of any class
of the outstanding voting or equity securities of the Company.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    RAB Special Situations L.P.
    Mr. Neil Warrender
    (44) 20-7389-7000
    nw@rabcap.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.