View PDF - Midas Gold Corp.

World classExploration1 st Quartile Costsby-productsproven metallurgyLowriskProvenmanagementCommunitySept.4/12Photo courtesy of the Idaho Historical Society Ref# 80-57-11Stibnite – looking into the pit (1940s)

A Unique & Exciting ProjectWorld class,high grade, openpit resourceExplorationupsideRobust PEA1 st Quartile CostsStrategicby-productsProductionproven metallurgyLow geopoliticalriskProvenmanagement& boardCommunitySupport2

Capitalization• Good relative share performance$48.3 million in cash (June 30)Midas Gold• Well funded with strong insider and institutional supportShare CapitalIssued & outstanding 114,466,936• Vista Gold 31,802,615 (27.8%)• Insiders & Founders 17,427,666 (15.2%)Options @ $0.19-$4.10 9,615,000Warrants @ $0.48 1,333,334Fully diluted 125,415,270Analyst CoverageJoe Mazumdar – HaywoodMichael Gray – MacquarieAdam Melnyk – DesjardinsMichael Curran – RBCJohn Hayes – BMOBrent Cook – Exploration InsightsTop InstitutionsGCIC (Dynamic)RBC Global Precious MetalsCraton CapitalAmerican CenturyPassportFranklinCIBC Asset Management3

Located in Low Risk, Mining Friendly Idaho A mining friendly jurisdiction‣ Ranked 5th in the US by Fraser Institute‣ Supportive local communities‣ Established mining state Project area has extensive history of mining‣ Brownfields site, heavily disturbed‣ Good access‣ Local infrastructure and workforce Streamlined permitting‣ Interagency Joint Review Process‣ Proposed US legislation to expedite permittingfor metals deemed to be strategic:• Sen. Murkowski and Rep. Amodei eachintroduced bills into US Congress for expeditedpermitting processes4

PRELIMINARY ECONOMIC ASSESSMENT5

PEA Consulting Team SRK (Vancouver)‣ Resource modeling, mining, geotechnical, water diversion, water balance, tailings,geochemistry, financial modeling, report preparation Ausenco (Vancouver)‣ Process design, camp, truck shop, water treatment Blue Coast (Vancouver)‣ Metallurgy SGS (Vancouver)‣ Flotation testing HDR (Boise)‣ Access road McClelland Laboratories (Reno)‣ CN leaching and destruction Dynatec (Edmonton)‣ POX testing of Au concentrate‣ Autoclave design Idaho Power (Boise)‣ Power supply & transmission Mineralogy‣ University of Western Ontario‣ Actlabs‣ SVL Analytical‣ Process Mineralogical Consulting (PMC) Other technical consultants‣ Rick Richins (environmental & permitting)‣ Jim King (metallurgical)‣ Don Cameron (resource modeling) Metal marketing consultants‣ For Au concentrate & Sb concentrate6

Base Case(At $1,400/oz gold)AnnualAverageYears 1-8TotalLife-Of-Mine (14.2 years)AnnualAverageTotalGold (000s oz) 390 3,121 348 4,922Antimony (M lbs) 9.9 79.3 6.4 90.6Cash Costs (US$/oz) (2)(net of by-products)331 425Initial Capital (US$M) 879Pre-tax NPV 5% (US$M) 2,136After-tax NPV 5% (US$M) 1,482IRR (Pre-tax/After-tax) 33.7%/27.2%After-tax Payback (years) 3.0In this presentation, “M” = million, “K” = thousands, all amounts in US$ 7PEA Highlights (1)(1) The economic assessment in the PEA is preliminary in nature and uses inferred mineral resources that are considered too speculativegeologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, andthere is no certainty that this PEA will be realized. The inferred mineral resource used in the economic analysis represents 37% of thetotal life-tonnes considered.(2) See non-IFRS measures below

Mineral Resources (000s oz Gold)4,5004,0003,5003,0002,5002,0001,5001,0005000World Class, High Grade Gold Resource*plus Antimony, SilverSulphide – IndicatedOxide – IndicatedSulphide – InferredOxide – InferredAverage Grade - Sulphides (g/t Au)1.61 1.44 1.95 1.65Hangar Flats West End Yellow Pine Total Open pit resource‣ High grade‣ Brownfield site‣ ~0.9M oz of past production 2,237 holes to end of Aug./12‣ 209,104m of drilling‣ Mostly in historic mining areas Resource estimates‣ Updates completed Q2/12‣ 38,246m of new drilling alreadycompleted in 2012‣ Further resource updatetargeted for end of Q1/13* See NI43-101 slide at the back of this presentation for responsibility and disclaimers.Mineral Resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining lossand dilution. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have economic considerations appliedto them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to measured and indicatedcategories through further drilling, or into mineral reserves, once economic considerations are applied.In this presentation, “M” = million, “K” = thousands, all amounts in US$8

PEA Project Description Power supplied via state grid installed adjacent to upgraded ThunderMountain road Mining fleet based on 136 tonne haul trucks and 22m 3 diesel shovels Water diversion around Yellow Pine pit via 1.4 km long tunnel 20,000 TPD process plant On-site production of gold doré with antimony (Sb) concentrate sales Primary process plant circuits include:‣ Primary (gyratory) crusher & conveyor to crushed ore stockpile‣ SAG (1) and ball (1) milling‣ Antimony flotation with filtration and sales of Sb concentrate‣ Gold flotation – 1 rougher & 3 stages of cleaning‣ Oxidize gold concentrate with single autoclave‣ Carbon-in-leach (CIL) circuit, carbon stripping & refining to doré‣ CN-destruction of CIL tailings Synthetically lined tailings facility for comingled flotation/POX/oxide tailings9

Primary Access Routes AlternativesTo Cascade,Boise10

Conceptual SiteLayout Southern access 3 pits Tunnel water diversion Mill feed stockpiles Plant & facilities area Waste rock:‣ On top of historic tailings& spent heap leach ore‣ Backfill Yellow Pine pit Tailings‣ Lined facility‣ Buttressed by waste rock

Mined Tonnes and Waste Rock Schedule(Mineralized material mined in Year -1 is stockpiled and then processed in Year 1)427Material Tonnage Mined (millions tonnes)36302418126654321Grade (g/t) and Strip Ratio (t:t)0-1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15YearTotal Plant feed Total Waste Gold grade Strip ratio012

8Open Pit Sequencing(Mineralized material mined in Year -1 is stockpiled and then processed in Year 1)4.0Mineralized Tonnage Mined (millions of tonnes)76543213.53.02.52.01.51.00.5Grade (g/t)0-1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15YearYellow Pine Hangar Flats West End Gold grade0.013

Mill Feed & Contained Metal Summary(Mineralized material mined in Year -1 is stockpiled and then processed in Year 1)814.2 Year Mine Life800Material Tonnage (millions of tonnes)7654321700600500400300200100Contained Metal00-1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15YearOxide feed Sulphide feed Sulphide Sb feedAu Contained (koz) Ag Contained (koz) Sb Contained (10klbs)14

Simplified Process DesignGyratoryCrusherSAGMillSulphidesBallMillAntimonyConcentrateAntimonyFlotationOxidesGoldFlotationPressureOxidationGoldDoréGold CIL& EWTailings15

Simplified Project Flow Sheet16

Payable Metal Summary500450AnnualAverageGold(000s oz)Antimony(M lbs)Silver(000s oz)Yrs 1-8 390 9.9 39.9LOM 348 6.4 23.72540020Payable Gold and Silver (000s oz)3503002502001501005015105Payable Antimony (millions lb)-1*2 3 4 5 6 7 8 9 10 11 12 13 14 15-YearPayble Gold (koz) Payable Silver (koz) Payable Antimony (Mlb)* During Year 1, mill is ramping up to full production 17

Financial modeling AssumptionsAssumptionValueGold priceVariable ($1,200/oz to $1,800/oz)Silver priceVariable ($20/oz to $30/oz)Antimony priceVariable ($5.50/lb to $7.00/lb)Au & Ag metal recoveriesVariable by deposit & type (oxide vs.. sulphide)Sb recovery 80%Au doré payable 99%Ag doré payable 95%Sb concentrate payable 65%Au doré refining/transport costs$8.00/payable ozAg doré refining/transport costs$0.50/payable ozSb transport, marketing, insurance, etc.$171.60/tContingency Variable (from 5% to 25%)18

After Tax Cash Flow (Base Case)6003,000500400Payback in 3.0 Years2,5002,000Annual Cash Flow ($ millions)3002001000(100)(200)(300)-3 -2 -1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18Project Year1,5001,0005000(500)(1,000)(1,500)Cumulative Cash Flow ($ millions)(400)(2,000)(500)(2,500)(600)(3,000)Undiscounted Cash FlowUndiscounted Cumulative Cash Flow21

Financial SummaryGold Price($/oz)Pre-Tax ($ millions)NPV (0%) NPV (5%) NPV (10%) IRR1,200 2,549 1,464 834 26.6%1,400* 3,580 2,136 1,296 33.7%1,600 4,611 2,808 1,759 40.0%1,800 5,642 3,480 2,221 45.8%Gold Price($/oz)After-Tax ($ millions)NPV (0%) NPV (5%) NPV (10%) IRR1,200 1,874 1,036 546 21.9%1,400* 2,557 1,482 853 27.2%1,600 3,233 1,923 1,157 31.9%1,800 3,910 2,364 1,460 36.3%*Base case22

Pre-tax NPV 5% Sensitivities by CaseCaseVariablePre-tax NPV 5% ($ millions)Case ACase B*Case CCase D*Base caseCAPEX 1,667 1,464 1,262OPEX 1,801 1,464 1,128Metal Price, Recovery or Grade 625 1,464 2,304CAPEX 2,339 2,136 1,934OPEX 2,473 2,136 1,800Metal Price, Recovery or Grade 1,162 2,136 3,111CAPEX 3,011 2,808 2,606OPEX 3,145 2,808 2,472Metal Price, Recovery or Grade 1,700 2,808 3,917CAPEX 3,683 3,480 3,278OPEX 3,817 3,480 3,144Metal Price, Recovery or Grade 2,237 3,480 4,72323

After-tax NPV 5% Sensitivities by CaseCaseCase ACase B*Case CCase DVariableAfter-tax NPV 5% ($ millions)-20%Variance0%Variance20%VarianceCAPEX 1,176 1,036 889OPEX 1,242 1,036 816Metal Price, Recovery or Grade 436 1,036 1,593CAPEX 1,619 1,482 1,344OPEX 1,683 1,482 1,277Metal Price, Recovery or Grade 828 1,482 2,122CAPEX 2,060 1,923 1,786OPEX 2,124 1,923 1,721Metal Price, Recovery or Grade 1,193 1,923 2,652CAPEX 2,501 2,364 2,227OPEX 2,565 2,364 2,163Metal Price, Recovery or Grade 1,547 2,364 3,181*Base case24

Cash Costs (1) Net of By-products vs. Production2011-12 Studies for Gold Projects (2)Industry Cash Cost (1) Quartile (3)Q4Q3Q3Q2Q2Q1Net Cash Costs (1) (US$/oz of gold)$900$800$700$600$500$400$300YellowknifeAlmasEsaaseGoliathBomboreKiakaMirafloresNew LibertyObotanGoldfieldVolcanEagle GoldToroparuSugar Pantanillo NorteCurraghinaltBack RiverAuroraKarmaAngostura Rainy River GoldAmulsarUpper BeaverHaileMaginoMorelosCourageous LakeLivengoodGoldenMeadows LOMGoldenMeadows Yr.1-8DetourCaspicheMetates0 100 200 300 400 500 600 700 800Annual Production (000s oz of gold)PEAPFSFS(1) See non-IFRS measures below. Sources: (2) Haywood Securities & company disclosure; (3) CIBC World Markets25

ClosureConcepts Plant‣ Decontaminated, demolished,recycled, rehabilitated Remaining Tailings supernate‣ Treated for discharge orevaporated Tailings and waste rock dump‣ Rehabilitated and Meadow Creekreestablished with discharge toHangar Flats settling basin Yellow Pine pit backfill‣ Rehabilitated and EFSF SalmonRiver reestablished to facilitatefish habitat Water diversion tunnel‣ Bulk-headed at both ends26

On-going Voluntary Remediation Midas is not waiting to address legacy impacts from historic mining:‣ Voluntary remediation program to reduce sediment loading of creeks• 5,000 trees planted in 2011, 7,800 to be planted in 2012• 5 acres of historic disturbance reclaimed• Dust suppression improvements to 11 km of public roads plus airstrip• Replaced or repaired numerous culverts and creek crossings High standards for earning a social licence:‣ Stakeholder engagement and participation‣ Conducting exploration to high standards• Meeting or exceeding Best Management Practices• Protecting water quality & fisheries27

Potential Economic Benefits (Base Case) Significant positive impact already on-going:‣ Largest private employer in Valley County (115 people in 2011, 146 in 2012)• More than 70% from Idaho, half of which are from Valley/Adams counties‣ ~85% of 2012’s $50+ million expenditures spent in Idaho, half of it locally PEA estimates potential future benefits:‣ More than 400 direct employees for 14+ mine life‣ Average annual payroll of ~$20 million• Salary levels forecast at more than double Idaho average‣ University of Idaho estimates 2.5 times as many spin-off jobs as direct jobs‣ Approximately $1,223 million in taxes payable over the 14+ year mine life:• Federal: $800 million• State: $220 million• County: $3 million• Excludes payroll taxes, state sales taxes, & income taxes paid by employees28

Risks & OpportunitiesRisksShort TermAbility to complete infill drilling for 2013 PFS toconvert inferred mineralization to indicatedAntimony market and the impact of alternateproducts on the process flow sheetLong TermPermitting timelines and opposition toprojectOpportunitiesSecondary processing of antimony concentrate(Sb metal, Sb trioxide, sodium antimonate)Infill drilling within pit limits converting wasterock to resourceGeotechnical drilling steepening pit slopes, andreducing strip ratiosGold concentrate sales versus secondary goldprocessingBulk flotation results in improved metallurgicalrecoveries, etc.Exploration success (e.g. Scout) &/ordiscovery of higher grade oz that woulddefer lower grades/margin oz to laterEstimate Sb & Ag for full depositsoutside the 0.1% Sb shellsAccelerated permitting through landswap &/or critical metals legislationAlternate oxide material flow sheet,e.g. Heap leachingPossible 25-50% increase in throughput29

EXPLORATION UPSIDE30

Exploration Upside – Deposit Expansion All three deposits open toexpansion:‣ Yellow Pine• East, west, south & depth‣ Hangar Flats• West & northwest‣ West End• East, west, north, south & depth Additional proximal targets‣ Yellow Pine• Northwest & northeast‣ Hangar Flats• South31

Exploration Upside – New Discoveries Multiple targets defined by:‣ Surface drilling‣ Underground drilling & workings‣ Surface rock & soil sampling‣ Airborne EM & magnetics‣ Ground IP Prioritized targets have potential tohost new deposits:‣ Bulk tonnage• Scout, Cinnamid-Ridgetop, Saddle-Fern, Rabbit‣ Small tonnage, high grade• Garnet, Upper Midnight‣ Undefined AEM Targets• Mule, Salt & Pepper, Blow-out32

Exploration: Scout Prospect First of priority prospects to be drilled‣ 183m @ 1.85% Sb, 0.77 g/t Au, 12.1g/t Ag Significant gold-silver-antimony system Less than 200m drilled of 600m IP anomaly Potential for enhanced by-productproduction33

MOVING FORWARD34

Earning a Social Licence Have a positive local impact now:‣ Hire locally – 115 in 2011, 146 YTD, direct employees & on-site contractors• Largest private employer in Valley County‣ Local suppliers & contractors - $12 million in 2011, ~$50 million in 2012• ~85% spent in Idaho, ~half spent locally‣ Be a good citizen – community assistance, voluntary site remediation‣ Conduct exploration safely & to high environmental standards (meet or exceed BMPs) Develop a sustainable project by doing what is right:‣ Protecting water quality‣ Protecting the fishery (ESA)‣ Protecting and/or mitigating loss of forested wetlands‣ Non-degradation of ground water‣ Engage, inform, consult and consider stakeholders35

Regulatory Steps Use PEA to engage with regulators, communities, NGOs, other stakeholders‣ Consider and optimize options‣ Mitigate impacts‣ Demonstrate:• Concurrent environmental & fisheries enhancement as part of overall mine plan• A robust closure and final reclamation plan• Significant local benefits through employment & business opportunities Commence permitting of a mining and processing operation post-PFS‣ EIS/Plan of Operations• Participation of USFS, US EPA, US Army Corps of Engineers, NOAA Fisheries at federallevel, Idaho DEQ, Idaho Dept. of Water Resources, Idaho Dept. of Lands, Idaho Dept.of Fish & Game• 50+ permits required‣ Continued community, NGO and stakeholder engagement36

Community EngagementObjective is to build a broad base of support through ongoingcommunication: Governments: Federal, State, local, & Tribes Regulatory agencies: Federal, State, County NGOs Business and recreational groups Community leaders in Yellow Pine, Cascade, McCall, Donnelly, Boise and theState of Idaho in general The Midas Community: our own employees37

Near-term Value DriversOngoing Infill & Step-out DrillingOngoing ExplorationResource UpdatePEAUpdated PEA or PFS2012 2013Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Ongoing infill, step-out and exploration drill results Ongoing metallurgical, engineering and other studies in support of an updatedPEA or PFS Formal permitting process commences with completion of updated PEA or PFS38

Key Components for Success39

ADDITIONAL INFORMATION40

Mineral ResourceCategoryMineral Resource Estimate (1)All Three Deposits comprising the Golden Meadows Project, IdahoPrepared by SRK Consulting (Canada) Inc., June 25, 2012Tonnes(000s)Gold Grade(g/t)Contained Gold(000s oz)SilverGrade (5)(g/t)ContainedSilver (000soz)AntimonyGrade (4)(5) (%)Contained Antimony(000s lbs)Open Pit Oxide (2) Mineral ResourcesIndicated 10,573 0.90 305 0.00 - 0.00% 122Inferred 2,201 0.97 68 0.00 - 0.00% 178Open Pit Sulphide (3) Mineral ResourcesIndicated 67,653 1.80 3,925 0.60 1,312 0.07% 108,385Inferred 53,917 1.63 2,822 0.93 1,603 0.08% 92,606Total Open Pit Oxide + Sulphide (2)(3) Mineral ResourcesIndicated 78,226 1.68 4,229 0.52 1,312 0.06% 108,507Inferred 56,117 1.60 2,890 0.89 1,603 0.07% 92,784Mineral ResourceCategoryAntimony Subdomains (1) Mineral Resource, Yellow Pine & Hangar Flats DepositsTonnes(000s)Gold Grade(g/t)Contained Gold(000s oz)Silver Grade(g/t)Contained Silver(000s oz)AntimonyGrade (%)Contained Antimony(000s lbs)Open Pit Sulphide (3) Mineral ResourcesIndicated 9,999 2.31 743 3.15 1,012 0.49% 108,507Inferred 8,639 2.08 576 5.04 1,400 0.49% 92,784(1) Mineral resources are reported in relation to a conceptual pit shell. Mineral resources are not mineral reserves and do not have demonstrated economic viability – see “Compliance with NI43-101” below. All figures are roundedto reflect the relative accuracy of the estimate. All composites have been capped where appropriate.(2) Open pit oxide mineral resources are reported at a cut-off grade of 0.42 g/t Au. Cut-off grades are based on a price of US$1,400 per ounce of gold and a number of operating cost and recovery assumptions, plus a 15%contingency.(3) Open pit sulfide mineral resources are reported at a cut-off grade of 0.75 g/t Au. Cut-off grades are based on a price of US$1,400 per ounce of gold and a number of operating cost and recovery assumptions, plus a 15%contingency . The antimony subdomain is further limited to discrete zones of mineralization with grades that exceed 0.1% Sb.(4) Where antimony grades are shown as “0.00” there is antimony present but it rounds to 0.00.(5) Antimony and silver were not estimated for the entire West End deposit and most of the Hangar Flats and Yellow Pine deposits due to a lack of sufficient assays, and are averaged into the totals at an assumed zero 41 grade.41

Experienced BoardStephen Quin, President, CEO & Director• Ex-Capstone Mining, Sherwood Copper, Miramar Mining & Northern Orion ExplorationsPeter Nixon, Chair• Ex-Goepel Shields & Partners; current director of Dundee Precious Metals & KimberFred Earnest• Current President & CEO of Vista Gold; ex-Pacific Rim, DaytonJerry Korpan• Ex-Yorkton Securities UK, former Bema Gold director, current director of B2GoldWayne Hubert• Former CEO of Andean, previously Meridian Gold VP Business DevelopmentMike Richings• Current Chair & former CEO of Vista Gold; ex-Allied Nevada, Atlas, Lac MineralsJohn Wakeford• Ex-Hemlo, Battle Mountain & Miramar; former Sr. VP and current Director with SabinaGold & SilverDon Young, Audit Committee Chair• Ex-KPMG, Placer Dome; current director of Dundee Precious Metals & Kimber42

Proven ManagementStephen QuinPresident & CEOP.Geo. with 30-year track record of project acquisition,advancement & value creationPresident & COO, Capstone Mining Corp. to Dec./11; formerly President& CEO, Sherwood Copper; formerly Executive VP, Miramar Mining &Northern Orion ExplorationsDarren MorgansCFOFormerly Controller & Corporate Secretary with Terrane MetalsPrior experience with Placer Dome, MIM Holdings & PwCAnne LabelleVP Legal & SustainabilityGeologist and a lawyer, previously Manager of Legal Affairs &Sustainability with Capstone MiningLiz CaridiResponsible for permitting and regulatory matters for Yukon & BC MinesManager of IR, Corporate SecretaryPreviously Director of IR & Corporate Secretary with Rainy RiverPrior to that Corporate Communications & Compliance with RubiconMineralsBob BarnesVP DevelopmentExperienced mine operator with regulatory experienceFormer VP Operations with Capstone Mining, responsible for operations inCanada and MexicoResponsible for permitting & operation of Wharf Au Mine, S. DakotaJohn Meyer Manager, DevelopmentP. Eng. with extensive experience in mine developmentFormer Project Manager for Kinross Gold’s Fruta del Norte (FDN) gold project inEcuador, managing the design and development of this high-grade refractorygold project from PEA to FS; Prior to Kinross, held positions with Aurelian andBarrickChris Dail Exploration ManagerCPG with 25-year track record of greenfield and brownfields golddiscoveries (Nevada, Alaska, Montana, Western Australia)Worked with Chevron, Cominco, Asarco, Kennecott, Anschutz, Electrum,Piedmont, Gold CrestRichard Moses Field Operations ManagerP.Geo with expertise in cold-weather drill definitionFormerly site manager for International Tower Hill’s Livengood project,Previously responsible for major drill programs at Pebble and Donlin Ck.Rick Richins Regulatory/permitting Consultant30 years experience in permitting/compliance for large miningprojects in USEIS for Kensington Mine, Alaska & Thunder Mtn. (Idaho); Rochester (Nevada)and Stibnite (Idaho) EIS & permitting; Beartrack, Grouse Creek, Thunder Mtn.and West End mines in Idaho43

ANTIMONY44

Strategic By-Products: Antimony180001600014000120001000080006000400020000• The British Geological Survey’s 2011 Risk List ranked Antimony (Sb) in highest risk category (higherthan Rare Earths) based on:• Scarcity, production concentration (China),reserve base distribution, governance• Export restrictions introduced by China in 2009 toaddress falling reserves & meet domestic demand• European Commission put antimony on its list of 14critical raw materials (based on economic importanceand supply risk)• Potential for new U.S. legislation aimed atexpediting permitting of “strategic” projectsMetals Bulletin - Antimony Metal Standard Grade II(US$/tonne)Antimony Uses (USGS)Other uses20%Batteries &alloys20%China89%FlameRetardants60%World Antimony Production 2011 (USGS)Bolivia3%Russia2% South Africa2%Tajikistan1%OtherCountries3%45

AntimonySupply RiskAntimony - #1 in BGS and BBCreports in terms of supply risk

REGULATORY INFORMATION47

Compliance with NI43-101The technical information in this presentation (the “Technical Information”) has been approved by Stephen P. Quin, P. Geo., President & CEO of Midas Gold Corp. (together withits subsidiaries, “Midas Gold”) and a Qualified Person. Midas Gold’s exploration activities at Golden Meadows were carried out under the supervision of Christopher Dail, C.P.G.,Qualified Person and Exploration Manager and Richard Moses, C.P.G., Qualified Person and Site Operations Manager. For readers to fully understand the information in thispresentation, they should read the technical report (to be available on SEDAR or at www.midasgoldinc.com by mid-September 2012) in its entirety (the “Technical Report”),including all qualifications, assumptions and exclusions that relate to the information set out in this presentation that qualifies the Technical Information. The TechnicalReport is intended to be read as a whole, and sections or summaries should not be read or relied upon out of context. The technical information in the Technical Report issubject to the assumptions and qualifications contained therein.Some of the mineral resources at Golden Meadows are categorized as indicated and some as inferred mineral resources. Mineral resources that are not mineral reserves do nothave demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates includeinferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorizedas mineral reserves. There is also no certainty that these inferred mineral resources will be converted to measured and indicated categories through further drilling, or intomineral reserves, once economic considerations are applied.Cautionary Note – The mineral resource estimates referenced in this presentation use the terms “Indicated Mineral Resources” and “Inferred Mineral Resources.” We adviseyou that while these terms are defined in and required by Canadian regulations, these terms are not defined terms under the U.S. Securities and Exchange Commission (“SEC”)Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. “Inferred Mineral Resources” have a great amount ofuncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does notconstitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that anypart or all of mineral deposits in these categories will ever be converted into reserves. Midas Gold is not an SEC registered company.The resource estimation for the gold deposits at Golden Meadows was completed by David Rowe, C.P.G of SRK Consulting (Canada), Inc. under the supervision of Guy Dishaw, P.Geo, of SRK Consulting (Canada), Inc. The other Qualified Persons responsible for the PEA study are Gordon Doerksen, P.Eng., of JDS Energy and Mining Inc. (overall projectmanagement and economic analysis); Dino Pilotto, P.Eng., of SRK Consulting (Canada) Inc. (mining); Bruce Murphy, FSAIMM, of SRK Consulting (Canada) Inc. (mine geotech);Maritz Rykaart, P.Eng., of SRK Consulting (Canada) Inc. (waste management); John Duncan, P.Eng. of SRK Consulting (Canada) Inc. (water management); Chris Martin, C.Eng., ofBlue Coast Metallurgy Ltd. (metallurgy); Kevin Scott, P.Eng., of Ausenco Solutions Canada Inc. (infrastructure and mineral processing); and Rick Richins, BS, MS, of RTR Inc.(environmental considerations) – see the technical report for relevant assumptions and disclaimers.Non-IFRS Performance Measure"Cash Operating Costs" is a non-IFRS Performance Measure. This performance measure is included because this statistic is a key performance measure that management usesto monitor performance. This performance measure does not have a meaning within IFRS and, therefore, amounts presented may not be comparable to similar data presentedby other mining companies. This performance measure should not be considered in isolation as a substitute for measures of performance in accordance with IFRS.48

Forward Looking StatementsStatements contained in this presentation that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-LookingInformation”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward LookingInformation includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economicconditions and courses of action; the timing and costs of future exploration activities on the Corporation‘s properties; success of exploration activities; permitting time linesand requirements, requirements for additional capital, requirements for additional water rights and the potential effect of proposed notices of environmental conditionsrelating to mineral claims; planned exploration and development of properties and the results thereof; planned expenditures and budgets and the execution thereof. Incertain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, “budget”,“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential” or “does not anticipate”, “believes”, “conceptual”, “base” case”, or variations of such words andphrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Statements concerning mineralresource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that may be encountered ifthe Golden Meadows Project is developed. In making the forward-looking statements in this news release, the Corporation has applied several material assumptions,including, but not limited to, certain assumptions as to production rate, operating cost, recovery and metal costs as set out in this presentation, that any additional financingneeded will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies in 2012 will be consistent with the Corporation‘s expectations; thatthe current exploration and other objectives concerning the Golden Meadows Project can be achieved and that its other corporate activities will proceed as expected; thatthe current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner andthat all necessary governmental approvals for the planned exploration on the Golden Meadows Project will be obtained in a timely manner and on acceptable terms; thecontinuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks,uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results,performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to the availabilityof financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in exploration programs based uponresults of exploration; changes in estimated mineral reserves or mineral resources; future prices of metals; availability of third party contractors; availability of equipment;failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry;environmental risks, including environmental matters under U.S. federal and Idaho rules and regulations; impact of environmental remediation requirements and the termsof existing and potential consent decrees on the Corporation‘s planned exploration on the Golden Meadows Project; certainty of mineral title; community relations; delaysin obtaining governmental approvals or financing; fluctuations in mineral prices; the Corporation‘s dependence on one mineral project; the nature of mineral explorationand mining and the uncertain commercial viability of certain mineral deposits; the Corporation‘s lack of operating revenues; governmental regulations and the ability toobtain necessary licences and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title;currency fluctuations; changes in environmental laws and regulations and changes in the application of standards pursuant to existing laws and regulations which mayincrease costs of doing business and restrict operations; risks related to dependence on key personnel; and estimates used in financial statements proving to be incorrect; aswell as those factors discussed in the Corporation's public disclosure record. Although the Corporation has attempted to identify important factors that could affect theCorporation and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that causeactions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actualresults and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-LookingInformation.Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this presentationto reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.49

FOR MORE INFORMATION CONTACT:Tel: 778.724.4700Fax: 604.558.4700E-mail: info@midasgoldcorp.comSuite 1250 – 999 West Hastings StreetVancouver, BC CANADA V6C 2W2www.midasgoldcorp.com50