Midlands Minerals Corporation

Midlands Minerals Corporation

June 30, 2011 15:30 ET

Midlands and Bayfront Capital Partners Announce Agreement

TORONTO, ONTARIO--(Marketwire - June 30, 2011) - Midlands Minerals Corporation (TSX VENTURE:MEX)(OTCQX:MDLXF)("Midlands" or the "Company") announces that it has reached an agreement with Bayfront Capital Partners Ltd. ("Bayfront") to end an ongoing proxy contest.

In accordance with the agreement, the slate of nominees proposed by the Company in its Management Information Circular dated May 19, 2011 and Bayfront in its dissident circular dated June 20, 2011 did not stand for election at the annual and special meeting of shareholders of the Company held today. Instead, six nominees comprised of four nominees of Bayfront and two nominees of Midlands were proposed for election at this afternoon's meeting, and the following were elected as directors of the Company: R. John Carruthers and Mark B. Keatley, who were among the slate of nominees proposed by management and continuing directors, and John Vettese, Mark J. Morabito, Nicholas Tintor and Anthony Wonnacott, who are the nominees of Bayfront.

Although Midlands' President and Chief Executive Officer, Kim F. Harris, was not re-elected as a director of Midlands and resigned as an officer of Midlands as of today, she has entered into a consulting agreement with Midlands pursuant to which she will provide assistance to the Company with respect to government relations, relationships with Midlands' joint venture partners and in connection with the transition of the board of directors.

The new board of directors would like to thank Ms. Harris for her numerous years of service in founding and guiding the Company through its formative years and look forward to working with her during this transition period and to her continuing involvement with the Company in her new capacity.


Midlands is a growth oriented and value based gold exploration company operating in Ghana and Tanzania, two stable countries with a history of gold mining. Midlands' top priority project is the fully permitted Sian gold project in Ghana. The Sian property contains Esaase and Ampeha, two previously producing open pit mines with a resource with significant growth potential. Midlands' contiguous Kwahu Praso project, which was once part of Sian, contains extensions of the Esaase and Ampeha trends. Sian and Praso are just 30 kilometres northeast of Newmont Mining's +8.7 million-ounce Akyem gold deposit.

Midlands' second priority project in Ghana is the highly prospective Kaniago gold project, which is located on the Asankrangwa Gold Belt and is contiguous to two past open pit gold producers – Abore to the north and Obotan to the south.

Midlands also holds highly prospective licences for gold and diamonds in the Lake Victoria Goldfields in Tanzania, including its advanced Itilima Gold Project, which lies within the Geita-Bulyanhulu-Sekenke Trend, which is host to over 40 million ounces in gold reserves, and has now added to its Tanzania portfolio with the acquisition of the New Kilindi-Handeni prospecting licences.

The Company has a highly qualified management and technical team with broad African experience and extensive experience in the countries in which the Company operates. For more information on the Company, please visit Midlands' website at www.midlandsminerals.com.

Certain statements contained in this news release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from actual results and achievements expressed or implied by such forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

The Company adds a cautionary statement to the effect that the potential quantity and grades that may be referred to in this press release are conceptual in nature. There has been sufficient exploration to evaluate a mineral resource. However, the Company is uncertain if further exploration will result in a mineral reserve. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. Readers are also advised to consider such forward-looking statements while considering the risks inherent in the business of mineral exploration. For more information, investors should review the Company's filings that are available at www.sedar.com.

The TSX Venture Exchange and OTCQX have not reviewed and do not accept responsibility for the adequacy or accuracy of the content of this news release.

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