Midex Gold Corp.
OTC Bulletin Board : MDXO

May 13, 2009 16:01 ET

Midex Gold Corp. Provides an Update of Recent Activities That Position It for a Major Announcement

DAR ES SALAAM, TANZANIA--(Marketwire - May 13, 2009) - Midex Gold Corp. (OTCBB:MDXO) (www.midexgold.com), provides an update of its recent corporate activities. Management has identified several mineral exploration and development opportunities in East Africa, specifically Tanzania. Over the past few years, the company's management has developed strategic relationships with Tanzanian government officials and senior mining professionals to help identify key gold and diamond mining concession targets that had considerable exploration work already completed. The company is now positioned to make an announcement that it will acquire a near-term mineral production projects in Tanzania.


Tanzania has a long history of being politically stable and in 1998 the country instituted a new mining act that attracted numerous international mining companies. The country has vast amounts of undeveloped mineral-rich natural resources. It has one of the world's largest diamond producing mines and is the third largest gold producer in Africa. The mining industry in Tanzania is expected to grow at an average of 11.92% through 2008-2013, according to Business Monitor International forecasts.


Gold mineralization has been found by a number of mining companies and two global mining companies are currently operating world-class gold mines in Tanzania. AngloGold's Geita Mine with 18 million proven ounces and Barrick's Bulyanhulu Mine with 12 million ounces are highly productive mines with 2009's annual production running at 250,000 and 200,000 ounces of gold respectively.


Also known as the Mwadui kimberlite, the mine was discovered by Canadian geologist Dr. John Williamson in 1940 and is the largest economically exploitable pipe in the world. No other economic pipe of this size has been mined since. In 2006, diamond production at Williamson Diamonds Limited totaled 189,396 carats, marginally lower than in 2005 when 190,384 carats were produced.


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.


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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