Midex Gold Corp.
OTC Bulletin Board : MDXO

July 30, 2009 16:22 ET

Midex Gold Announces Five for One Forward Share Split Effective August 10, 2009

DAR ES SALAAM, TANZANIA--(Marketwire - July 30, 2009) - Midex Gold Corp. (OTCBB:MDXO) (www.midexgold.com), management announced today the company's five shares for one share forward split of its stock will be effective August 10, 2009. "With this restructuring of the Midex Gold shares and our 100% ownership of the Magembe Diamond Property, we are rapidly moving forward to ensure our shareholders receive the maximum return possible for their investment in our company." stated Morgan Magella, president of Midex Gold. "Our forward split of the five shares for each share issued should yield greater returns for current shareholders. And with the acquisition of our diamond property located directly next to the world famous Williamson (Mwadui) Diamond Mine, we believe that investor interest will only continue to grow in Midex Gold."


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.


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.


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.


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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