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Gold/Mining/Energy : KERM'S KORNER
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To: Arnie who wrote (9103)2/18/1998 3:38:00 PM
From: Herb Duncan   of 15196
 
FIELD ACTIVITIES / Midas Resources Ltd. Announces Hackett Gas
Well At Gadsby

TSE SYMBOL: MDS

FEBRUARY 18, 1998



CALGARY, ALBERTA--Midas Resources Ltd. ("Midas") today announces
its sixth successful Hackett gas well in the Gadsby area. Midas
has a 43.75 percent working interest in the well, which flowed 4.6
million cubic feet per day on drill stem test. The flow rate from
the Hackett sandstone indicates the well has an absolute open flow
potential of 40 million cubic feet. Midas plans to have the well
on stream by the beginning of April at a rate of 4 million cubic
feet per day, since the well is located within one half mile of
Midas' existing gas gathering system. The gas is being marketed
to Pan-Alberta Gas.

Midas has varying working interests in 13 Hackett sand gas wells
in the Gadsby, Hackett and Fenn-Big Valley areas and interests in
26,500 gross (9,000 net) acres. The majority of Midas' 1998
capital budget will be spent in this focus area.

For information on the Company, please visit our website at:
midasres.com.
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