Midlands Minerals Corporation

Midlands Minerals Corporation

March 03, 2005 13:00 ET

Midlands Minerals Corporation Announces Conditional TSX Venture Exchange Approval



MARCH 3, 2005 - 13:00 ET

Midlands Minerals Corporation Announces Conditional
TSX Venture Exchange Approval

TORONTO, ONTARIO--(CCNMatthews - March 3, 2005) - Midlands Minerals
Corporation ("Midlands" or the "Company") wishes to announce that on
March 2, 2005, Midlands received Conditional Approval for a listing on
the TSX Venture Exchange ("TSX-V"). The Approval is conditional upon the
Company completing a financing of at least $1,000,000 and receipt of
final documentation by the TSX Venture Exchange. The Listing is subject
to the Company fulfilling all the final documentation requirements of
the Exchange (Policy 2.3, Section 1.4) by May 1, 2005. The Company
intends to fulfil the TSX Venture Exchange conditions as soon as

In this regard, Northern Securities Inc., subject to completion of
satisfactory due diligence, has been retained by Midlands to act as
Sponsor in connection with its proposed listing on the TSX-V. An
agreement to sponsor should not be construed as any assurance with
respect to the merits of Midlands or the likelihood of completion of the
listing process.

Completion of the transactions is subject to a number of conditions
including, but not limited to Final TSX Venture Exchange approval. There
can be no assurance that the transactions will be completed as proposed
or at all.

Midlands has a 75% interest in two contiguous prospecting licenses in
Tanzania (the "Itilima project"). The two contiguous gold and diamond
properties are located in the Lake Victoria Goldfields region of
Tanzania. 1385 meters of RC drilling, supervised by Watts Griffis and
McOuat Limited, was completed in April of 2004. There were 11 holes
drilled for gold and 3 holes in kimberlite targets. There are 82
kimberlite targets identified by an airborne magnetic and radiometric
survey conducted by Fugro Airborne Services Limited in September 2003,
of which 9 were identified as priority exploration targets. The 43-101
Report and a work program for the Itilima project were prepared by
Watts, Griffis and McOuat Limited.

The RC drilling, which was undertaken by Stanley Drilling Services
Limited, confirmed the presence of anomalous gold mineralization in two
areas. SGS Lakefield Research Limited confirmed the presence of diamond
indicator minerals in a 16 kg sample and also recovered 8 micro diamonds
from a 120 kg sample from the K1 kimberlite target.

Gold exploration targets have been identified for the next phase of
exploration, and further soil geochemistry sampling is currently
underway with 400m lines and sampling at 80m intervals on the entire
1406/99 Prospecting License.

The Company also has an 80% interest in a 109 sq km gold property on the
north-east end of the Ashanti Gold Belt in Ghana (the "Kwahu Praso
property"). Work done on the Kwahu Praso property to date consists of
stream sediment sampling and soil geochemistry. A comprehensive soil
sampling program is planned on the Kwahu Praso project which is now
contiguous to Newmont Mining Company's most recent acquisitions on the
north-east end of the Ashanti Gold Belt, subject to financing

In addition, the Company has applied for a new Prospecting License in
Ghana of a 75 sq km gold property which is contiguous to Resolute
Mining's Amansie gold property (the "Kaniago Concession"). Once mineral
rights are granted, Midlands will own 100% of the Kaniago Concession. In
addition, Midlands has applied for a reconnaissance license on a 2,700
sq km mineral property in Tanzania.


Contact Information

    Midlands Minerals Corporation
    Kim Harris
    Managing Director and CEO
    + (416) 492-6992
    + (416) 492-6993 (FAX)
    The TSX-V has in no way passed upon the merits of the proposed
    transactions and has neither approved nor disapproved the contents of
    this Press release.