TORONTO, Dec. 30 /CNW/ - Midlands Minerals Corporation ("Midlands" or the "Company") is pleased to announce the Company has recently been granted approximately 602 square kilometres of highly prospective ground, representing four separate prospecting licences in the New Kilindi-Handeni area in Tanzania.
"We are very pleased to have these new prospecting licences in an area of Tanzania that is so highly prospective, given recent major gold discoveries by a Canadian junior. All four licences are adjacent to the new discoveries, and we are looking forward to seeing the initial reports from our people on the ground in the area," said Tom Neelands, P.Geo, and Vice President Exploration.
The New Kilindi-Handeni area is the subject of recent significant gold discoveries by Canaco Resources Inc. in Tanzania. Midlands conducted reconnaissance surveys on these four new licences in November and December 2010, and initial reports are pending.
The technical information in this news release has been reviewed by Tom Neelands, P.Geo, and a Qualified Person under National Instrument 43-101.
ABOUT MIDLANDS MINERALS
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.
<< Kim Harris President and Chief Executive Officer >>
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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 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.
For further information: Kim Harris, President and CEO, CEO Direct Line: + 1 416 447 6882, 1210 Sheppard Avenue East, Suite 302, Toronto, Canada M2K 1E3, Tel: + 1 416 492 6992, Fax: + 1 416 492 6993, E-Mail: [email protected], Website: www.midlandsminerals.com