getting set for big upside..

hi all...

my opinion is that midas is getting set for a huge upside..

drilling so far has been excellent, i'd say the next drilling results due very soon will set midas moving like a rocket..

plus whats encouraging also T Streeter (director) buying heaps..

at the current 23 cents will be a distant memory shortly

see below previous results


12 January 2004
AUSTRALIAN STOCK EXCHANGE LIMITED
Dear Sirs,
INFORMATION RELEASE
CONFIRMATION OF HIGH GRADE GOLD INTERCEPTS FROM FORTITUDE
Highlights
• Re-sampling confirms high grade gold intersections in RC drilling at Fortitude
• Significant RC re-sampling results include

14m @ 8.17 g/t Au (including 3m @ 26.27g/t)

5m @ 13.35 g/t Au (including 2m @ 31.85g/t)

20m @ 2.70g/t Au (including 7m @ 4.50g/t)
• A 2,500m Rotary Air Blast (“RAB”) / Aircore drilling program testing geophysical targets
to commence next week.
• A 2,500m Reverse Circulation (“RC”) is scheduled to commence in February 2004.
Introduction
Midas Resources Limited ("Midas") is pleased to report that one metre re-sampling of the
anomalous composite sample assays reported on 10 December 2003 confirms the high grade
intersections at the southern end of the F2 lode within the Fortitude gold deposit at Lake Carey. The
samples relate to the 1,938 metre RC drilling program completed in November.
Fortitude RC Drilling
Drilling was completed in two parts of the Fortitude deposit. Holes FTRC117-122 infill-drilled
previous wide mineralised zones at the northern end of the deposit, while holes FTRC123-129
tested the southern extension of higher grade lode structures within a structural corridor.
Intersections from the one metre re-sampling are listed in Table 1 below.
The results from the testing of the southern lode structures within the structural corridor are highly
encouraging, with high grade intersections grading close to one ounce to the tonne being returned
from FTRC124 (2m @ 31.85 g/t Au) and FTRC127 (3m @ 26.27 g/t Au).
The infill drilling to the north confirmed the wide lower-grade zones intersected in previous drilling
in this area. The wide intersection (60m @ 2.26 g/t Au) in FTR118 calculated from composite assays
and reported in December returned an equivalent intersection of 59m @ 1.52g/t calculated from the
one metre assays, after including internal waste grading <0.5g/t.

Table 1 - Fortitude Deposit
November 2003 RC Drilling - One Metre Assay Results (0.5g/t cut-off)
Lode Hole AMG_E AMG_N Depth Dip Azimuth From
(m)
To
(m)
Intersection
(g/t ) Au
Northern Infill drilling
99 123 24m @ 1.42
123 133 N/A F2 FTRC117 456800 6757125 200 -60 90
172 179 7m@ 1.40
36 49 13m@ 2.02
F2 FTRC118 456850 6757125 150 -60 90
85 95 10m@ 3.89
85 95 10m@ 1.33
F2 FTRC119 456825 6757150 130 -60 90
103 109 6m@ 1.51
37 45 8m@ 2.90
M2 FTRC120 456878 6757075 150 -60 90
55 58 3m@ 2.32
Southern Extensional drilling
F2 FTRC123 456900 6756925 170 -60 90 89 96 7m@ 2.60
86 106 20m@ 2.70
inc 93 100 7m @ 4.50
113 114 1m@ 11.30
117 122 5m@ 13.35
F2 FTRC124 456875 6756925 228 -60 90
inc 119 121 2m@ 31.85
44 47 3m@ 2.76
58 60 2m@ 3.07 F2 FTRC125 456900 6756875 170 -60 90
68 72 4m@ 1.76
30 38 8m@ 2.34
F2 FTRC126 456915 6756850 200 -60 90
183 194 11m@ 2.95
29 43 14m@ 8.17
F2 FTRC127 456930 6756825 200 -60 90
inc 29 32 3m@ 26.27
M2 FTRC128 457050 6756975 130 -60 270 81 84 3m@ 1.42
Notes: Individual samples were analysed by Fire Assay digest and ICP-OES finish by Ultratrace Laboratories in Perth
N/A refers to intervals where assays are not yet available.
Future Work
A 2,500m RAB/Aircore drilling program will commence this week at the Lake Carey project.
Drilling will target the western sub-audio magnetic (“SAM”) geophysical target reported on 10
November 2003 and will further test the Stealth prospect. Previous drilling at Stealth, located
5km south of Fortitude on the Fortitude shear in a similarly structurally complex area, returned
an intersection of 3m @ 18.7g/t Au.
A 2,500m RC drilling program is planned to commence in February to follow-up these current
results, to test new target areas within the Fortitude deposit, and to continue the infill drilling
program that will lead to a revised resource estimation at Fortitude.
Yours faithfully
MIDAS RESOURCES LIMITED
RHOD GRIVAS
Managing Director