Midas Minerals Acquires Advanced Copper-Gold Project in Namibia from Nexa Resources

Midas Minerals Ltd (ASX: MM1) has entered into a binding agreement to acquire a portfolio of 10 Exclusive Prospecting Licences (EPLs) from Brazilian base metals major Nexa Resources S.A. (NYSE: NEXA). Covering 1,776km² in Namibia’s highly prospective Otavi Mountainland, the Otavi Project includes two advanced copper-gold-lead-zinc deposits (T13 and Deblin) with significant resource potential and multiple drill-ready regional targets.

Under the acquisition terms, Midas will pay Nexa an upfront US$3 million, with further deferred payments totaling US$7 million tied to a pre-feasibility study, mine development decision, and commercial production milestones. Nexa will also retain a 1% NSR royalty, with Midas holding a buyback right for 50% at US$2 million. The Otavi region offers world-class infrastructure and historical production of over 1.5Mt copper and 5Mt lead-zinc but has seen minimal modern exploration. Midas plans immediate drilling post-completion, combining resource definition and regional exploration to unlock value rapidly.

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