ABOUT MIDLANDS MINERALS

Midlands is a growth oriented and value based gold exploration company operating in Ghana and Tanzania, two stable low risk countries with a history of gold mining. The Company mitigates potential risk to investors by operating in stable countries with well established mining laws, and by having several high quality projects located near major gold deposits and on known prolific gold producing belts.

Midlands has a highly qualified management and technical team with extensive experience in the countries in which the Company operates. The Company's priority project is the fully permitted and past gold producer, Sian gold project, located on the Ashanti Gold Belt in Ghana.

Midlands Minerals is one of 40 companies featured in the Haywood Securities Junior Exploration Index. The Haywood Junior Explorer Index ("HJEI") tracks the performance of the group of junior exploration companies relative to the market. The HJEI is a publication by Haywood Securities Inc.

Contact:

Kim Harris
Midlands Minerals Corporation
President and CEO
(416) 492-6992 or CEO Direct Line: (416) 447-6882
(416) 492-6993 (FAX)
Email: info@midlandsminerals.com
Website: www.midlandsminerals.com

Midlands is pleased to have obtained number 13 in the top 20 under year-to-date performance and number 10 in the top 20 in the quarter-to-date category.

*Click here for today’s report

http://www.haywood.com/pdffiles/JrMM...

REF: Haywood Securities Junior Exploration Index.

Please refer to the report to see first hand how Midlands Minerals is outperforming the market!

Regards,

AGORACOM

MIDLANDS AT THE 2008 MINES AND MONEY SHOW

LONDON, UK - BOOTH # K1

INVESTING IN AFRICAN MINING SEMINAR
- MONDAY, DECEMBER 1, 2008

Midlands Minerals will be presenting at Mine Africa's Investing in African Mining Seminar to be held at the Great Eastern Room, Andaz Hotel, 40 Liverpool Street, London, E2CM 7QN, from 8:00 am to 5:00 pm. We hope you can join us there.


MINES AND MONEY LONDON 2008
- TUESDAY, DECEMBER 2, AND WEDNESDAY, DECEMBER 3, 2008

Midlands will be exhibiting at Booth # K1, at the Business Design Centre, 52 Upper Street, Islington, London, N1 0QH. The show is open on Tuesday from 8:30 am to 6:30 pm, and Wednesday from 8:30 am to 4:30 pm.

We hope you have the opportunity to visit our Booth and we look forward to your attendance!

TSX-V:MEX

For more information on the Company, please visit Midlands’ investor relations website at www.agoracom.com/IR/MidlandsMinerals or email MEX@agoracom.com.

On behalf of the Board

Kim Harris
President and Chief Executive Officer

For further information, please contact:
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: info@midlandsminerals.com Website: www.midlandsminerals.com

TSX-V: MEX NOVEMBER 10, 2008

WALL STREET REPORTER TV: UPDATE ON MIDLANDS MINERALS

NEW YORK – Wall Street Reporter TV has come back from the 2008 Cambridge House Investment Conferencein Toronto with new interviews from top executives at three emerging gold companies: Metals Creek Resources Corp. (TSX-V:MEK), Midlands Minerals Corp. (TSX-V:MEX), and Bear Lake Gold Ltd. (TSX-V:BLG).

Investors can find WSR TV’s interview with Midlands Minerals Corp. (TSX-V:MEX) CEO Kim Harris at http://www.wsrtv.com/view_video.php?... Highlights include:

-- Detail on the company’s flagship project in Ghana, which represents a resource of around 400,000 ounces of gold at 2.3 g/t and already has all necessary infrastructure and mining permits in place for production

-- An outline of the political situation in Ghana and Tanzania, where the company operates

-- Discussion of the company’s clean balance sheet.

ABOUT MIDLANDS MINERALS
Midlands is a growth oriented and value based gold exploration company operating in Ghana and Tanzania, two stable low risk countries with a history of gold mining. The Company mitigates potential risk to investors by operating in two politically safe countries with well established mining laws, and by having several high quality projects located near major gold deposits and on known prolific gold producing belts.

The Company has a highly qualified management and technical team with extensive experience in the countries in which the Company operates. The Company’s priority project is the fully permitted and past gold producer, Sian gold project, located on the Ashanti Gold Belt in Ghana.

For more information on the Company, please visit Midlands’ investor relations website at www.agoracom.com/IR/MidlandsMinerals or email: MEX@agoracom.com.

On behalf of the Board

Kim Harris
President and Chief Executive Officer

For further information, please contact:
Kim Harris, President and 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: info@midlandsminerals.com Website: www.midlandsminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. Midlands Minerals is one of 40 companies featured in the Haywood Securities Junior Exploration Index. The Haywood Junior Explorer Index (“HJEI”) tracks the performance of the group of junior exploration companies relative to the market. The HJEI is a bi- monthly publication by Haywood Securities Inc.

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 and there has been insufficient exploration to define a mineral resource. Further, the Company is uncertain if further exploration will result in discovery of a mineral resource. 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.

By Graham Summers
Nov 5 2008 10:50AM

www.globalstockmonitor.com

Since July 2008, the dollar has staged its most dramatic rally in years. However, from a fundamental standpoint, the dollar’s position has worsened significantly.

Let’s start with the bailouts.

The US already had $9 trillion in debt on its balance sheets before the Federal Regulators started nationalizing the mortgage and banking industry. When they took over Fannie Mae and Freddie Mac, they added an additional $5.2 trillion worth of potential liabilities in the form of mortgages to this mess.

Now, obviously not all of Fannie/ Freddie’s mortgages are junk. However, both companies’ managements have already admitted that at least $1.2 trillion worth of these mortgages were subprime or Alt-A (garbage).

If anything, they’re probably understating the amount of junk they own. During the housing boom, smaller, regional financial firms typically kept the best mortgages to themselves. The junk¾ or lower quality mortgages¾ were usually pawned off on Fannie/ Freddie. Because of this, I believe it’s safe to assume $2 trillion worth of their mortgages are no good.

That puts the US debt at around $11 trillion: close to its total GDP.

Then there’s the $85 billion nationalization of AIG, the insurance giant. Most people think this was a one-time deal for $85 billion. However, the government has already loaned AIG an additional $37.5 billion, which puts the tag at over $100 billion.

Aside from this, AIG has over $441 billion worth of credit derivatives on its balance sheets. If you’re unfamiliar with credit derivatives, these are the unregulated, opaque financial instruments that got Wall Street into trouble in the first place back in July 2007.

The reality is no one knows whether any of these are good or bad. But considering the fact AIG had to be nationalized in the first place, it’s highly likely a considerable amount of them are garbage. By nationalizing AIG (or at least 80% of it) the US government has taken on the burden of these securities. So add another half a trillion dollars in liabilities to the US balance sheet.

And then there are the money printing presses…

If you annualized the rate of money printing the Feds have maintained during the last four weeks, the total US monetary supply would more than triple in the next 12 months. Eventually¾ and I cannot tell you when because it’s impossible to know¾ banks will stop hoarding this money and it will spill over into the general economy. When it does, we’ll enter a period of hyper-inflation never before seen by the US. When this happens, dollar’s rally will not only end, the dollar will hit new lows never before seen.

In light of this, I strongly urge you to buy physical gold now while the paper gold markets are keeping the price low. As you know, there are two markets for gold: the “paper” market and the bullion market. The recent drop in gold prices has everything to do with the former and nothing to do with the latter¾ the bullion markets are extremely tight due to demand. “Paper” gold has been hammered because of two trends:

• Institutional liquidations
• The dollar’s rally

Funds have to liquidate their positions in order to meet these redemptions. And mutual funds have been hit with $967 billion in redemptions since the beginning of 2008. Gold¾ which the stock-centric crowd never really believed in anyway¾ was one of the first items to go. And since the “paper” gold market is relatively small¾ the total value of gold on the Commodity Exchange in New York (COMEX) is only $5 billion¾ it doesn’t take much capital to crush gold in the “paper” markets.

As for the dollar’s rally, I’ve laid out precisely why this will be short-lived at the beginning of this piece ¾ the Fed’s interventions AND the hyperinflationary money printing. I don’t know when the dollar rally will end, but looking at its recent action¾ it staged its largest single one day drop against the euro since 1999¾ it may be coming sooner rather than later.

Simply put, the dollar will eventually roll over. When it does, gold will erupt higher. The bullion market is already red hot. The dollar’s rally has been the last obstacle to a renewal in the bull market in gold.

Best Regards,

Graham Summers

TSX-V: MEX OCTOBER 30, 2008

THE NEXT PHASE OF DRILLING IS EXPECTED

TO SIGNIFICANTLY INCREASE THE RESOURCE ON SIAN, GHANA

While market conditions are keeping us all on our toes, Midlands Minerals would like you to know that we have been very busy in the field in preparation for further drilling on the Sian and Kwahu Praso (“Sian/Praso”) projects in Ghana. 452 soil samples were collected on Sian/Praso during the month of October 2008.

Sian and Kwahu Praso are located on the prolific Ashanti Gold Belt, just 30 km north east of Newmont Mining’s +8.7 million oz Akyem gold deposit. Sian has a 30 year mining lease, and is a fully permitted past open pit gold producer (2001-2004) with existing infrastructure, roads, power, water, including a CIL plant and a recently upgraded NI 43-101 compliant mineral resource estimate (see news release dated April 4, 2008).

The Chart below shows Midlands Minerals’ performance during these turbulent times relative to the S&P/TSX Venture Index (Blue line is Midlands).

ABOUT MIDLANDS MINERALS

Midlands is a growth oriented and value based gold exploration company operating in Ghana and Tanzania, two stable low risk countries with a history of gold mining. The Company mitigates potential risk to investors by operating in two politically safe countries with well established mining laws, and by having several high quality projects located near major gold deposits and on known prolific gold producing belts.

The Company has a highly qualified management and technical team with extensive experience in the countries in which the Company operates. The Company’s priority project is the fully permitted and past gold producer, Sian gold project, located on the Ashanti Gold Belt in Ghana.

For more information on the Company, please visit Midlands’ investor relations website at www.agoracom.com/IR/MidlandsMinerals or email MEX@agoracom.com.

On behalf of the Board

Kim Harris

President and Chief Executive Officer

For further information, please contact:

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: info@midlandsminerals.com Website: www.midlandsminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Midlands Minerals is one of 40 companies featured in the Haywood Securities Junior Exploration Index. The Haywood Junior Explorer Index (“HJEI”) tracks the performance of the group of junior exploration companies relative to the market. The HJEI is a bi- monthly publication by Haywood Securities Inc.

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 and there has been insufficient exploration to define a mineral resource. Further, the Company is uncertain if further exploration will result in discovery of a mineral resource. 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.

Below is the video link from Wallstreetreporter regarding Kim Harris' interview on October 5, 2008 at the Cambridge Conference. We hope you enjoy this informative feature on one of the most promising junior gold companies around!

http://www.wsrtv.com/view_video.php?...

Regards,

AGORACOM

Fear Factor

	By Jon Nadler Oct 9 2008 9:21AM
	www.kitco.com

Good Morning,

The global credit blaze raged on overnight despite signs that additional central banks joined the worldwide rate cut campaign. The intense heat melted Iceland - its banks, stock market, and currency dissolved into a sorry-looking puddle. The financial ramifications of the collapse raised tensions with the UK as it prepared to sue Iceland over lost depositors' savings. On the other hand, it seems like if Icelanders could paddle hard, they might choose a N/E course, and start heading closer to their new savior: Russia.

Cryptic words from Henry Paulson gave some the jitters, and others some hope. The Treasury boss said that he " will use all of the tools we've been given to maximum effectiveness." For now, the translation of "tools" has resulted in one interesting bit of news: Uncle Sam will (temporarily?) 'nationalize' some, or many US banks, to the tune of about a 30% ownership stake. Now that's some capital 'injection.' Welcome to Amerika. One thing Mr. Paulson was not cryptic at all about, was to forecast additional US bank failures. As certain as night following day, that.

Gold prices fell back overnight, as more investors ran to cash (go figure) following Wednesday's widespread rate cuts. Fears persist about the effectiveness of what appear to be desperate acts by desperate men and thus the flight to safer havens continued. However, bullion appears to rotate in and out of phases of liquidation and accumulation. This, despite ultra-confident previous forecasts that the metal was going to rise and only rise, bailout plan or no bailout plan. Does not quite work that way, evidently. High prices have once again put a damper on critical Indian demand - this, at a time when it ought to be roaring ahead. The Dussehra-Diwali festival window is now open, but India's soon-to-be in-laws are not exactly beating a well-worn path to their nearest gold purveyor.

New York spot prices opened under liquidation pressure this morning, quoted at $888.00 - off $18 from yesterday's finish. The decline came despite a marginally weaker greenback (off 0.29 at 89.21 on the index) and a small gain in crude oil (up one quarter at $89.21). Stock futures indicated a positive open for a change, on this, the one-year anniversary of its all-time high of 14,164 - nearly 35 percentage points ago... Unhappy anniversary.

Silver slipped 15 cents to $11.62 while platinum finally found some firmer ground and rose by $26 to $1026.00 per ounce. Palladium added $4 to $197.00 per ounce. Hopefully, gold will find some support near $875 and try to get back to above $900 in short order. Given the amalgam of current conditions across all markets, and the fact that some have now stopped trying to tally the total size of this most serious financial event, gold should inherently be some 50% higher than the price levels with which it is wrestling at this time. At least, that's what we've been told ever since...oh, 1979 or thereabouts.

At the end of the day, most of what we are witnessing today is a product of human emotions and ambitions. Irrational exuberance has been replaced by lucid panic. The extreme of the latter has not yet been reached. You may wish to avert your vision at the time it does. Bloomberg's Matt Benjamin dove into the psychological aspect of the current episode of "Global Fear Factor" and found some interesting angles to ponder. Herewith, excerpts from his article:

"Greed and fear are the emotions that rule markets. Fear is winning.

"People are driven by images of the best and worst that can happen," says George Loewenstein, a professor of psychology and economics at Carnegie Mellon University in Pittsburgh. "The image of the worst is much more vivid in their minds right now." The widespread fear of losses has taken John Maynard Keynes's so-called animal spirits, "a spontaneous urge to action rather than inaction," out of the markets.

Normally, a little fear is a good thing, economists say. For decades after the 1930s, memories of the Great Depression tempered optimism and kept asset bubbles from growing too large. Today's fears, however, have reached an intensity that magnifies every additional piece of information and creates a vicious circle, according to Hersh Shefrin, professor of behavioral finance at Santa Clara University in California. Wall Street's so-called fear index, the VIX, measures the cost of using options as insurance against stock-market losses. It reached an intraday record of 59.06 today.

"When we are panicked we misread signals, we misread mild threats as catastrophic threats and we become unduly conservative," says Shefrin, author of a 2000 paper, "Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology of Investing." That's one reason why, even as the Fed made $1 trillion available to banks, lending fell off a cliff. Charles Geisst, a finance professor at Manhattan College in Riverdale, New York, sees a parallel to 1932, with credit markets bad and the stock market falling just ahead of the presidential election that put >Franklin D. Roosevelt in the White House.

"But I'm not sure anyone is FDR this time," says Geisst, author of "Wall Street: a History," who puts the possibility of another Great Depression at 50 percent. "I don't think either candidate has a clue what they're dealing with here. This is more than a political problem that's going to blow over."

When experts and authority figures are uncertain, it's especially crippling, says Paul Slovic, a professor of psychology at the University of Oregon in Eugene and founder of Decision Research, which investigates decision making and risk. "It makes people feel vulnerable and leads to greater anxiety," he says. Within days of his inauguration, Roosevelt declared a bank holiday and held the first of his "fireside chat" radio addresses to try to reassure Americans. In the days after Lehman and AIG melted down last month, President George W. Bush was nearly silent, uttering a total of 160 words about the worst financial crisis since Roosevelt's time.

Another large component of fear is ambiguity, psychologists say. Investors simply don't know what is going on, making them even more anxious. Faced with an unfamiliar situation, humans, like other animals, retreat into "fight or flight" mode, Shefrin says. It's simply going to take time for investors' fears to subside. With asset prices plunging, greed will eventually make a comeback.

"An important aspect of greed is to avoid a situation where others are doing better than you because you remained conservative," say Baruch Fischhoff, a cognitive psychologist at Carnegie Mellon University in Pittsburgh who studies decision making. Some investors are concerned about not being conservative enough, says Stefan Greenberg, a managing director at Lenox Advisors in New York, which counsels high net-worth individuals. His clients are calling to ask if their money-management firms are still solvent and whether they should sell their holdings, moving 100 percent into cash.

"We hear a lot of emotion, we hear a lot of fear" Greenberg says. He is urging clients not to liquidate their portfolios. "Of course there's panic," he says. "The next few months will take a strong stomach."

And so, the "Fearnami" rolls on. No headlines can offer shocking surprises anymore. Like the one about California falling off the cliff unless it receives a $7 billion defibrillator shock application. We are talking about the seventh largest economy in the world if placed into the proper context. When it comes to bulldozing, the current crisis make no distinction between hot (California) or cold (Iceland), or big or small. Find one weak balance sheet, and the entity it is attached to, instantly turns into a potential domino.

Fret.

Jon Nadler

Senior Analyst
Kitco Bullion Dealers Montreal

Midlands Minerals Corporation will be presenting a corporate presentation to brokers, investment advisors and analysts on October 15, 2008 at Turf Lounge, 330 Bay Street, Toronto.

Midlands Minerals is a proud participant at this year's Toronto Resource Investment Conference in Toronto, Ontario. Details of Midlands Booth numbers and location are provided below. Make sure to show your support by visiting the booth there!

Toronto Resource Investment Conference
Metro Toronto Convention Centre (South Building)
Booth #522
(Toronto, Canada)
October 4-5, 2008

As well, CEO Kim Harris will be interviewed by Wall St. Reporter at 10:40am during the conference. Agoracom will post the interview in its entirety as it becomes available.

Regards,

AGORACOM

TORONTO, ONTARIO-- Oct. 1, 2008 - Midlands Minerals Corporation ("Midlands" or the "Company") (TSX VENTURE:MEX) is pleased to announce that the Company's Board of Directors has adopted a shareholder rights plan ("Rights Plan") effective September 30, 2008. The Rights Plan is effective immediately subject to ratification by the Company's shareholders within six months.

The Rights Plan is designed to provide adequate time for shareholders of Midlands and the Board of Directors to consider and evaluate any unsolicited take-over bid for the Company; to provide the Board of Directors with adequate time to identify, develop, and negotiate alternatives for maximizing shareholder value; to provide shareholders with an equal opportunity to participate in any take-over bid; to encourage the fair treatment of shareholders in the event of any bid for Midlands, and to give shareholders adequate time to make an informed decision about any proposed transaction.

Midlands is not aware of any pending or threatening bid for the Company. The Rights Plan, which has a term of three years, is similar to those adopted by other Canadian publicly listed companies and is consistent with current Canadian corporate practice.

The rights issued under the Rights Plan ("the Rights") will become exercisable only if a person, together with his or her affiliates, associates and joint actors acquires or announces the intention to acquire beneficial ownership of Midlands common shares which, when aggregated with current holdings, total 20% or more of Midlands' outstanding common shares (determined in the manner set out in the Rights Plan), other than a Permitted Bid (as defined in Rights Plan).

A Permitted Bid must be made by way of a take-over bid circular prepared in compliance with applicable securities laws, and, among other conditions, must remain open for 60 days and may be taken up only if more than 50% of the shares held by shareholders other than the bidder have been tendered to the take-over bid.

In the event that the take-over bid does not meet the Permitted Bid requirements of the Rights Plan, the Rights will entitle shareholders, other than shareholder making the take-over bid, to purchase additional common shares of Midlands at a substantial discount to the market price of the common shares at that time. For further information on the Rights Plan, please visit www.sedar.com or the Company's Web Site at www.midlandsminerals.com.

ABOUT MIDLANDS MINERALS

Midlands is a growth oriented and value based gold exploration company operating in Ghana and Tanzania, two stable low risk countries with a history of gold mining. The Company mitigates potential risk to investors by operating in two geopolitically safe countries with well established mining laws, and by having several high quality projects located near major gold deposits and on known prolific gold producing belts. The Company has a highly qualified management and technical team with extensive experience in the countries in which the Company operates. The Company's priority project is the fully permitted and past gold producer, Sian gold project, located on the Ashanti Gold Belt in Ghana. For more information on the Company, please visit Midlands' investor relations website at www.agoracom.com/IR/MidlandsMinerals or email MEX@agoracom.com.

On behalf of the Board

Kim Harris, President and Chief Executive Officer

Midlands Minerals is one of 40 companies covered in the Haywood Securities Junior Exploration Index. The Haywood Junior Explorer Index ("HJEI") tracks the performance of the group of junior exploration companies relative to the market. The HJEI is a bi- monthly publication by Haywood Securities Inc.

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 and there has been insufficient exploration to define a mineral resource. Further, the Company is uncertain if further exploration will result in discovery of a mineral resource. 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.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

CONTACT INFORMATION:

Good afternoon Midlands Minerals Investors!

As previously indicated, Midlands Minerals today presented at the "2008 Geo Framework of the Business of Exploration & Mining" event hosted by Market Motion Media. Agoracom was present at the presentation, and presents a smattering of key points obtained from the symposium. These points are displayed in no particular order:

• Kim Harris emphasized that Ghana & Tanzania, the two countries in which Midlands operates, are amongst the most stable mining regions in Africa.

• Midlands main gold project, the Sian property, is located only 30km SW from the 8.7M + ounce gold deposit operated by Newmont Mining Corp.

• Sian has close to 400,000 ounces of gold (192,400 indicated; 203,350 inferred)

• About 40% of Midlands Minerals share ownership is institutional-based. Some of these institutions can be considered conservative firms.

• The cost of building a mine today runs on average between 300 & 400 million dollars. Since Midlands already has a mine built on their flagship property Sian (courtesy of former tenants), the operation costs of setting up a mine are greatly reduced. Furthermore, Midlands owns other valuable infrastructure such as a self-contained leetching facility and access to full power.

• Kim Harris also emphasized that the Sian property is completely surrounded by Newmont Mining.

For a more specific information regarding Midlands geology & business plan, please check out their latest investor presentation by clicking here.

The event features one of the world’s leading geological minds, Dr David Groves, PhD, P.Geo who has authored more the 500 scientific publications. His work has been recognized by the award of seven medals including the Geological Association of Canada Medal, the Silver Medal of SEG and the Haddon Kng Medal of the Australian Academy of Science.

Dr. David Groves' most recent publication with the title "Magambazi Gold: A potential New Orogenic Gold Deposit Style in the Handeni District of Tanzania" is not only ground breaking, but it highlights the gold potential of a new and emerging exploration district in the Handeni area in Tanzania. For more information on the event, please visit www.marketmotionmedia.com

ABOUT MIDLANDS MINERALS
Midlands is a growth oriented and value based gold exploration company operating in Ghana and Tanzania, two geopolitically stable low risk countries with a history of gold mining. The Company mitigates potential risk to investors by operating in two politically safe countries with well established mining laws, and by having several high quality projects located near major gold deposits and on known prolific gold producing belts.

The Company has a highly qualified management and technical team with extensive experience in the countries in which the Company operates. The Company’s priority project is the fully permitted and past gold producer, Sian gold project, located on the Ashanti Gold Belt in Ghana. Sian is an advanced gold project with a resource which is growing.

For more information on the Company, please visit Midlands’ investor relations website at www.agoracom.com/IR/MidlandsMinerals or email MEX@agoracom.com.

On behalf of the Board

Kim Harris
President and Chief Executive Officer
For further information, please contact:
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: info@midlandsminerals.com Website: www.midlandsminerals.com

- recently identified new target areas and extensions to known gold zones have been confirmed

- compilation of soil geochemical data has identified new drill target areas

TORONTO, ONTARIO (Sept. 17, 2008) - Midlands Minerals Corporation ("Midlands" or the "Company")(TSX VENTURE:MEX - News) is pleased to announce the commencement of additional soil sampling on its Sian and Praso projects in Ghana. The soil surveys are designed to tighten the spacing on existing soil grids to allow further definition of drill targets, to extend known open-ended zones, and to explore new areas, as part of the Company's on going exploration program. The newly released soil geochemical data from the adjacent Newmont property (Nkooko Concession) supports and adds confidence to Midlands' findings to date and moves the Company closer towards discovering additional gold mineralization on both Sian and Praso.

Sian and Kwahu Praso are located on the prolific Ashanti Gold Belt, just 30 km north east of Newmont Mining's +8.7 million oz Akyem gold deposit. Sian has a 30 year mining lease, and is a fully permitted past open pit gold producer (2001-2004) with existing infrastructure including a CIL plant and a recently upgraded NI 43-101 compliant mineral resource estimate (see news release dated April 4, 2008).

Please click the link below to view the map

http://www.midlandsminerals.com/pres...

The map above summarizes the results of infill soil geochemical surveys completed by Midlands on both Praso and Sian since acquiring the Sian property in 2006. The recently published geochemical data from the contiguous Newmont property to the northeast is from soil surveys conducted by Newmont Mining Corporation. These survey results clearly demonstrate the extensive anomalies on Praso to the northeast of Sian and identify the eastern portion of Sian and areas west and south of Mpeyo, as highly prospective areas for additional and more detailed surveying.

"We are pleased to see the synergy between our soil results and those of the contiguous and adjacent Newmont property. The map above illustrates the continuity of the gold mineralization between Newmont's Nkooko concession and Kwahu Praso, showing the substantial extent of the anomalous area and its potential to host a sizable discovery", said Kim Harris, President and Chief Executive Officer.

Midlands' current soil geochemical program which is designed to identify drill targets, consists of detailed infill surveys with sampling at 25 meter spacing along lines 100 meters apart in the Mpeyo area (area C), as well as new and follow up sampling at 50 meter spacing along lines 200 meters apart to extend the Mpeyo zone to the west and south, the Praso area northeast of Sian, and to explore the virtually untested eastern portion of the Sian permit.

Most soil samples in this new data were collected at 50 meter intervals along GPS grid lines oriented East - West at a line spacing of 200 meters. Infill lines were at 100 meter spacing with sampling at 25 meter intervals. The Global Positioning System (GPS) was used in locating the soil sample points. GPS readings using three Garmin 12XL standardized with the UTM (WGS 84) Zone 30, Northern Hemisphere, were used to locate predetermined sample coordinates.

The samples were taken at a nominal depth of 30 cm - 40 cm below surface in the B horizon. Where soil depth was lacking, samples were taken from just above the bedrock. The samples weighing about 2 kg each were collected in the field directly into polythene sample bags, sealed and labelled with the appropriate code number, and then transported to the laboratory at regular intervals. All data pertaining to the soil characteristics: type, colour, composition and regime of the area as well as the vegetation were recorded on geochemical soil sample log sheets. All samples were sent to the SGS Laboratory in Tarkwa, Ghana, where they were assayed using standard 50 g fire assay with atomic absorption finish. QA/QC programs were in place using blanks and external standard samples.

The scientific and technical information contained in this press release has been reviewed by Joe B. Hinzer, M.Sc, P.Geo, Chief Operating Officer, who is a Qualified Person within the meaning of 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 low risk countries with a history of gold mining. The Company mitigates potential risk to investors by operating in two politically safe countries with well established mining laws, and by having several high quality projects located near major gold deposits and on known prolific gold producing belts.

The Company has a highly qualified management and technical team with extensive experience in the countries in which the Company operates. The Company's priority project is the fully permitted and past gold producer, Sian gold project, located on the Ashanti Gold Belt in Ghana.

For more information on the Company, please visit Midlands' investor relations website at www.agoracom.com/IR/MidlandsMinerals or email MEX@agoracom.com.

On behalf of the Board

Kim Harris, President and Chief Executive Officer

Midlands Minerals is one of 40 companies featured in the Haywood Securities Junior Exploration Index. The Haywood Junior Explorer Index ("HJEI") tracks the performance of the group of junior exploration companies relative to the market. The HJEI is a bi- monthly publication by Haywood Securities Inc.

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 and there has been insufficient exploration to define a mineral resource. Further, the Company is uncertain if further exploration will result in discovery of a mineral resource. 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact:

Kim Harris
Midlands Minerals Corporation
President and CEO
(416) 492-6992 or CEO Direct Line: (416) 447-6882
(416) 492-6993 (FAX)
Email: info@midlandsminerals.com
Website: www.midlandsminerals.com

Courtesy of www.adenforecast.com

The markets have been extremely volatile over the past few weeks. Investors have been spooked and many are wondering what to do, if anything.

For now, based on our analysis, gold’s bull market remains in force. That’s the bottom line. Even though there have been some wild swings, the major trend is still up and as long as that’s the case, we recommend holding your positions.

To briefly update you on what we’ve even watching, following are our last two alerts…

Aug 18, 2008

After reviewing all of the technical, economic and fundamental factors over the weekend, these are our latest thoughts on what's currently happening.

On Friday, gold broke clearly below its 65-week moving average, which is at $819. As you know, this average has been very reliable, identifying the major gold trends since the late 60s. If gold now stays below $819, it will signal that the major trend has turned down and gold is going lower.

But equally important, gold is extremely oversold. This means it's fallen too far, too fast and it's poised to rise in the weeks and months ahead. The same is true of silver, and gold and silver shares. Gold's D decline is also near maturity based on timing and gold's percentage decline. In other words, gold is at an extreme and the downside is limited. That being the case, we recommend the following.

Stay put for the time being and keep your metals related positions. It's still too soon to know if this is just a temporary, extreme break, which seems the most likely, or if this marks the start of a new bear market decline. We need to see more.

Since gold is so oversold, the extent of its rebound rise is now going to be very important. If gold, for instance, rises back above $819 during the rebound, then the break below the moving average would've been a temporary aberration rather than a major trend change. In that case, we'll continue holding our metals related investments.

On the other hand, if gold stays below $819 during the rebound rise, it'll mean that an important trend change is taking place and we'll either sell or lighten up on our holdings at a better price during the rebound. We'll then plan to buy gold again once it turns technically bullish.

As we've always said, we'll let the markets tell us what to do. And for now, they're telling us to sit tight. It's still too soon to act and today's $15 upmove may well be the start of the rebound we're referring to.

AN EXTREME SITUATION
Aug 20, 2008

Even though it's still early, we're starting to see some signs that the worst is probably over, or nearly over. For example, gold, silver, oil, the base metals, and some of the soft commodities and currencies are either stabilizing or beginning to bottom at extreme lows.

The same is true of some of the gold and silver shares, natural resource and energy stocks. They are all bottoming at extremely oversold levels (see Agnico Eagle as an example on the Chart 1). Several currencies are similar. At the same time, the U.S. dollar's short-term leading indicator is extremely overbought, the most in 16 years. These are further signs that these markets are now either poised to rise, or they're already starting to move up in the rebound rise we've been referring to. Keep your positions.

The gold price, for instance, is bouncing up from its extreme low posted on Friday. And while it's still below its 65 week moving average, now at $820, gold has reached an extreme D low in both time and price. Gold's fallen 21½% from its March record high to last Friday's low, and it's taken 22 weeks to do this. This is close to the worst decline in gold's seven year bull market, which happened in 2006 when gold fell 22% from its May high (see Chart 2). Gold then declined for 23 weeks and it formed a double D bottom. For now, if December gold closes back above $820, it'll reinforce that the fall was an aberration and the bull market is fine.

As we write, gold is indeed back above $820, signaling that the major bull market that started seven years ago remains intact. That’s the big picture and it’s most important.

by Mary Anne & Pamela Aden

The new PMI Gold property was referred to as "The Kaniago Prospecting License" in the news release. Midlands Minerals however, is the holder of an adjacent property, already referred to as "The Kaniago Prospecting Licence" issued as number LVB 13170/07 on June 4, 2007 and signed by the Minister of Lands, Forestry and Mines and registered by the Registrar of Lands (Government of Ghana) on June 18, 2007, and valid for a period of 2 years.

In Ghana, license names are generally based on the names of the main villages within or close to the prospecting license area. The main Kaniago village is located within the Midlands' license area, but there may be minor villages elsewhere that could have the same village name. The two companies are issuing this press release to clarify that these are in effect two different, valid, prospecting licenses.

The Asankrangwa Gold Belt is a highly prospective belt with promising prospects and both Midlands and PMI Gold hold properties which are either past gold producers or are contiguous to past open pit gold producers. Midlands' Kaniago project sits between PMI Gold's Abore and Obotan projects, on the Asankrangwa Gold Belt. The attached map, prepared by PMI Gold, illustrates the location of the two licenses. To view the map, please click on the link below:

http://www.midlandsminerals.com/pres... .

For future disclosure purposes, and in order to minimize any potential confusion, PMI Gold will refer to its new Kaniago Prospecting License as the Kaniago (Adansi) license.

ABOUT MIDLANDS MINERALS

Midlands is a growth oriented and value based gold exploration company operating in Ghana and Tanzania, two stable low risk countries with a history of gold mining. The Company mitigates potential risk to investors by operating in two safe countries with well established mining laws, and by having several high quality projects located near major gold deposits and on known prolific gold producing belts. The Company has a highly qualified management and technical team with extensive experience in the countries in which the Company operates. The Company's priority project is the fully permitted and past gold producer, Sian gold project, located on the Ashanti Gold Belt in Ghana. For more information on the Company, please visit Midlands' investor relations website at www.agoracom.com/IR/MidlandsMinerals or email MEX@agoracom.com.

ABOUT PMI GOLD

PMI Gold is currently advancing its Kubi Gold Project in Ghana towards production, and controls four previous operating gold mines on 712 square kilometres of leases and concessions located along the prolific Ashanti and Asankrangwa gold belts. For more information, please visit PMI Gold's website at www.pmigoldcorp.com.

ABOUT GHANA

Ghana is Africa's second largest gold producer and has attracted over $7 billion in foreign direct investment into the minerals and mining sector over the last decade. Ghana is a destination of choice because of its long gold mining history, prospective resource base, reasonable taxation and stable government.

On behalf of the Board of Midlands

Kim Harris, President and Chief Executive Officer

On behalf of the Board of PMI Gold

David Buckle, Executive Chairman

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 and there has been insufficient exploration to define a mineral resource. Further, the Company is uncertain if further exploration will result in discovery of a mineral resource. 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact:

Kim Harris
Midlands Minerals Corporation
President and CEO
(416) 492-6992 or CEO Direct Line: (416) 447-6882
(416) 492-6993 (FAX)
Email: info@midlandsminerals.com
Website: www.midlandsminerals.com

David Buckle
PMI Gold Corporation
Executive Chairman
(604) 682-8089 or Toll-Free: 1-888-682-8089
(604) 682-8094 (FAX)

For European Investors:
PMI Gold Corporation
Florian Riedl-Riedenstein
43-2774-28814
Email: frram@aon.at

For European Investors:
PMI Gold Corporation
John Mullen
41-522-428795
Email: John Mullen@bluewin.ch
Website: www.pmigoldcorp.com

Gold & Gold Stock Opportunity Analysis

	By Neil Charnock Aug 21 2008 10:45AM
	www.goldoz.com.au

I have been searching for the bottom pattern in gold’s current correction, and the level which is even harder. Bottom picking is both dangerous, if you deploy capital, and extremely difficult which is why I caution against it. Buying a sharply falling price is like catching a falling knife. It can cut you and even if you do catch it cleanly you must not let go as it may land directly on your foot.

So we wait and watch for the turn signal which indicates the trend has changed providing the ideal time for investors to enter this market again. Some I know are averaging down now buying highly undervalued miners on any price dip.

One of my contrarian contacts is an extreme sort of a chap and a successful futures trader – he is highly intense and intelligent and represents the ultimate contrarian’s contrarian in my opinion. Back in December last year we discussed lows and a 400 dma support level breached by a favorite diversified miner here on the ASX. I was looking for a bounce at that time and got it in that stock; he was looking at the overall market however and expecting the lows to continue to fall away into May this year.

But importantly he saw significant lows even earlier last year during this period and was right. William also saw a broad recovery in resources across the boards after this and the beginning of a new large scale commodity up-leg.

Most investors are intelligent and this is actually a trap of sorts – the obvious investment position is usually easy to take and usually wrong too. Just when it looks highly likely that the market will move in a certain direction – like lagging gold stocks at the beginning of the third quarter last year (gold surging higher) – it does the opposite. We could see gold headed higher and knew equities were out of fashion yet logic dictated that these stocks would follow. They didn’t and when gold turned down they still kept falling past support levels and over shot any perceived lows to the horror of longer term holders.

Gold just did the same thing overshooting predictions by many analysts, bottom pickers were out in force and the world was “too long” so it has to unwind according to an associate Colin Emery. I have been caught by false break outs before and even though there was excitement at the POG heading back towards that $US1000 level – I did not buy it – not yet.

I speak regularly with a silver trader who got carried away and thought the $16 level was the final support – but I warned him that I saw $14.50 and to leave a low bid in for the final sell off. My prediction was too high in the current volatility as even this “unthinkable” low (unthinkable to him and many others at the time) was overshot strongly. Silver is extremely volatile as the initiated regular market watchers all know – it always overshoots in both directions. Back to gold for now…

300 DMA and 20 month moving average – long term supports

My colleagues and I have written about the 300 dma for gold and how this moving average has supported the price of gold throughout this bull market. I sent a chart out to subscribers last week which showed the 20 month moving average on the long term chart and gold has tested this level several times since 2001 – well it just happened again. This average was tested and did support the price yet again.

For a different take – here is a GoldOz colleagues take on the 19th August – and his comments from the 12th August below the chart…

GOLD - Comex JUNE 08 – Daily

From the 12th August comment when gold was testing $US813: “in fact at best I think we are in for some sideways trading consolidation – at worst we will test these major supports – line 5 and line 7 – and the major long term trend line 6.” Well the knife was falling and Colin was right on the “worst” case scenario, it did subsequently fall to support line 7 with the potential to still fall to line 6 in the coming weeks.

Now summer in the Northern Hemisphere draws to a close – Fall is in the air as the leaves brown off and in the Southern Hemisphere winter draws to a close – Spring is in the air. This is the season of recovery for precious metals well documented elsewhere so I see no need to go over that ground here at present. September is the turn point and this is logical however there are no guarantees. With the US election looming we may have to wait and this will fool some investors into thinking that a recovery is not going to happen this season. However like late monsoon rains – the recovery will swing back again - why?

$AUD935 gold – right now

Gold and silver are deeply oversold, the shares even more so particularly the emerging producers. Depths not envisioned by most if not all now scream – “buy me”, that is if you believe the fundamentals and long term trends are still in place for gold.

Some of the base metals have become highly attractive too. There are repeating divergence patterns in stock markets indicating to this analyst that a turn is approaching in sentiment – it seems impossible but resources and precious metals will recover. Just as the worst of the financial results are being reported this year and things look as if the commodity boom will surely end – we will all get a surprise once again. I refer to mining and precious metals not real estate or the US economy.

Gold stocks did not follow gold up into that initial $US1000 + high and they were hammered further as gold subsequently fell. They did not follow the false break to $US987 either and then got hammered even further shaking gold stocks from all but the strongest hands. The buying patterns are now slowly changing which is what turns the RSI indicators and creates the divergences – this is a give away that the worst id over now for some stocks.

Many of these miners have been making significant progress towards increasing production and tangible results are imminent or already in place “at the stope face”. The markets will most likely bottom due to this confluence of occurrences (including the over sold condition of the physical metals and mining stock indicies) and strong hands will soak up more and more paper at these levels.

Progress at the mines may not be recognized in the share prices until results are reported – after the fact – but the smart money knows this and is picking up fallen and low lying fruit right now.

We now track the share charts closely on my PDF files which have evolved significantly since I released them two years ago – yet they are still too cheap. Patterns are emerging and market timing will be assisted via this process. The market too – is highly fluid with company failures (some sadly fatal), new emerging companies on the scene and takeovers – this takes more time than the average investor has to keep informed about. Turn your radars on now because he who hesitates is lost for the lowest prices - but be careful on your choice of stocks – and patient on your entry levels.

Media Disgrace – here we go again…

Direct from the same people that aired all the “get rich through real estate” and “renovate your dream to make money” schemes over the last 2-3 years here in Australia.

I just witnessed some absolute drivel on the television where a spokes person from a “wealth building” magazine was promoting dubious information. The blurb was simplistic rubbish and finished with the astounding statement that “It’s never too late, and never too early! A dollar today is worth a lot more than a dollar tomorrow, so I would start saving that dollar pretty fast!”

If she had explained herself it does make sense if you think about it – she is saying that the dollar will devalue. Actually good advice - however she fails to point out that the dollar saved - as she suggests - is currently suffering from negative real interest rates! That is right the dollar saved is losing value because inflation of goods and services is running at a greater rate than interest rates paid on those savings.

That dollar saved is good support for the Banking industry as a deposit (reserve requirements) however it is a losing proposition – guaranteed! The concept of putting something aside is sound however and if handled correctly is an excellent wealth building exercise – however you are unlikely to become wealthy from this activity unless you invest very wisely over the long term and achieve stellar compound results.

The stupidity of the statement also lies in its isolation from an explanation of inflation - and how to invest in something that will preserve that saved dollar so that it has a relatively increased value in the future. She had just talked about real estate and Super Annuation, the realm of the modern sucker – this garbage is literally “slops for the masses” – “bread and circuses” as it was called in ancient Rome. It is only good as entertainment value.

She promoted house ownership and also Super Annuation based solely on taxation merits at 15% even if it is the hands of inflexible super funds that can only invest in bank stocks, industrials, property trusts and the “like” and real estate. Great timing eh? Yeah “top advice” – real estate is set to stagnate at best here in Australia and at worst will fall dramatically at least in real terms (that dollar again and it’s relative value). Excuse the outburst but I thought these guys had all but finished this expert “advice” on how to get rich. Discipline and research and hard work are the road to wealth these days, and business ownership however only if you are extremely successful. At this stage I firmly believe gold stocks are a great medium term investment, so is bullion.

Gold and silver are real money so don’t buy the illusion, get some – save in bullion - and get the real thing, not paper, if you can!

Good trading / investing.

Regards,

Neil Charnock

Linked below is an interview conducted on August 12^th with President & CEO Kim Harris by Steve Crowley – host of American Scene Radio. The interview took place at the Wall Street Research Small Cap Conference held at the Penn Club in New York City (Please read Aug. 7 Agoracom post for greater context of the venue).

http://www.agoracom.com/executive/Ki...

Regards,

AGORACOM

By Chanyaporn Chanjaroen

Aug. 13 (Bloomberg) -- Gold rebounded in London as jewelry and investment demand revived after the price of the metal declined to a seven-month low. Platinum and silver also gained.

Gold for immediate delivery added $6.03, or 0.7 percent, to $818.35 an ounce as of 11:20 a.m. London time. It fell to $802.34 yesterday, the lowest since December as the dollar strengthened to the highest in 5 1/2 months. The metal has lost 21 percent from its March 17 record of $1,032.70 an ounce.

There has been ``a lot of demand'' for gold from jewelers and investors after prices fell close to $800, Afshin Nabavi, a senior vice president at MKS Finance SA in Geneva, said today by phone. ``That probably saved gold from collapsing.''

India, the world's biggest buyer of bullion, may increase imports for the first time in 11 months as jewelers rebuild inventories before the festival season starts this month, said Suresh Hundia, president of the Bombay Bullion Association Ltd. Imports fell by more than half in the 10 months ended July 31 from a year ago.

``Demand has been so much in the last couple of days that banks and other importers have run out of supplies,'' Hundia said yesterday in a phone interview in Mumbai, where the grouping of 230 trading companies is based. ``If the price keeps falling, there's no reason why people won't continue to buy.''

The worsening global economic outlook is likely to make gold a safe-haven asset for investors, Nabavi said. Estonia became the second European Union economy to enter a recession after Denmark. Japan's economy, the world's second-largest, contracted last quarter, bringing the country to the brink of its first recession in six years.

Buyers Deterred

Near record prices in the first half depressed global consumption of gold. Demand slid 19 percent in the second quarter to 735.6 metric tons from 905.7 tons a year earlier, the London- based World Gold Council said yesterday in a statement. Purchases for jewelry fell 24 percent and sales to India, the world's largest gold consumer and jewelry buyer, plunged 45 percent, the group said.

Bullion supply rose 1 percent from 797 tons to 802 tons, the council said. Central bank sales fell 43 percent to 88 tons and gold producers bought back 131 tons to eliminate hedge positions.

Pan American Silver Corp., the Vancouver-based company operating mines in the Americas and Russia, said today that second-quarter output rose 11 percent and forecast full-year production of 18.8 million ounces. Output will expand another 33 percent next year to 25 million ounces, it said in a statement.

Silver added 28.50 cents to $14.7850 an ounce.

Platinum increased $34, or 2.3 percent, to $1,511 an ounce and palladium advanced $7.25, or 2.3 percent, to $317.50.