DEVELOPING THE PAST-PRODUCING SIAN GOLD DEPOSIT IN GHANA
The Indicated Gold Resource at Sian/Praso Now Stands at 192,000 oz (NI 43-101 Compliant); Up 92% Since Last Report
Message: Announces 16% Stake Acquirement by Avion Resources
| May 13, 2009 |
| Midlands Minerals Announces 16% Stake Acquirement by Avion Resources |
| TORONTO, ONTARIO--(Marketwire - May 13, 2009) - Avion Resources Corp. ("Avion") (TSX VENTURE:AVR) has entered into an agreement to acquire a 16% interest in Midlands Minerals Corporation (TSX VENTURE:MEX) ("Midlands" or the "Company"). As part of a share exchange, Avion has agreed to purchase from RAB Special Situations (Master) Fund Limited a total of 8,581,000 common shares in the capital of Midlands in exchange for the issuance of 4,290,500 common shares of Avion Resources. Based on approximately 53.6 million common shares of Midlands being issued and outstanding, according to the TSX website, Avion's proposed shareholding of 8,581,000 common shares represents approximately 16% of the issued and outstanding common shares of Midlands. The acquisition of an interest in Midlands is consistent with Avion's growth strategy in Western Africa through strategic acquisitions and accelerated development. Avion believes that Midlands' Sian project offers promising exploration potential. Closing of this purchase of Midlands common shares will be subject to final approval of the TSX Venture Exchange. Avion Resources may seek to acquire additional securities through market transactions, private placements, treasury issuances or otherwise as circumstances or market conditions warrant or arise. 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 exceptional 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 Akyem gold deposit on the Ashanti Gold Belt. Midlands also holds highly prospective licences for gold and diamonds in the Lake Victoria Goldfields in Tanzania. The Company has a highly qualified management and technical team with extensive experience in the countries in which the Company operates. For more information on the Company, please visit Midlands' website at www.midlandsminerals.com. On behalf of the Board, Kim Harris, President and Chief Executive Officer |
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