Discovery 2012 Flow-Through Limited Partnership - Initial Public Offering - Maximum $50,000,000

TORONTO, July 24, 2012 /CNW/ - Middlefield Group, on behalf of Discovery 2012 Flow-Through Limited Partnership ("Discovery" or the "Partnership"), is pleased to announce that it has filed a preliminary prospectus relating to the initial public offering of Discovery units. The offering will be made in each of the provinces and territories of Canada.

The objectives of the Partnership are to provide investors with capital appreciation and significant tax benefits to enhance after-tax returns, including the deductibility of 100% of their original investment. The Partnership intends to achieve these objectives by investing in an actively managed, diversified portfolio of equity securities, comprised primarily of flow-through common shares, of Canadian exploration, development and production companies involved primarily in mining and supplemented by companies operating in the oil and gas sector.

The syndicate of agents for the offering is being co-led by RBC Capital Markets and CIBC World Markets Inc., and includes Scotiabank, BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Manulife Securities Incorporated, GMP Securities L.P., Macquarie Private Wealth Inc., Canaccord Genuity Corp., Middlefield Capital Corporation, Raymond James Ltd. and Dundee Securities Ltd.

Middlefield is a leading provider of flow-through share funds in Canada and has a strong track record of delivering positive after-tax returns. Since 1983, Middlefield has sponsored 50 public and private flow-through funds and has acted as agent or manager for over $2 billion of resource investments. Discovery's focus will be to construct a diversified portfolio of high quality, attractively valued companies which offer strong growth prospects and are led by experienced management teams.

A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada.  The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from members of the syndicate of agents listed above or from your IIROC registered financial advisor. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

SOURCE: Discovery 2012 Flow-Through Limited Partnership

For further information:

please visit our website at www.middlefield.com or contact Nancy Tham, Managing Director, Sales and Marketing, at 416.847.5349 or 1.888.890.1868.

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Discovery 2012 Flow-Through Limited Partnership

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