Midasco Capital Corp.: Mine Acquisition Moves Company Closer to Production

Midasco Capital Corp. (TSX VENTURE:MGC) - 

The Company is pleased to announce that effective June 4th 2008, its operating
subsidiary, Midasco Uranium LLC, entered into an Option Agreement with B-Mining
Company ("BMC"), a Colorado Corporation, to purchase the Centennial Sun-Cup Mine
Complex ("CSC Project") along with 27 mining claims encompassing 540 acres in
San Miguel County, Colorado. The mine is located in the Salt Wash Member of the
Morrison Formation, and is on the northeast limb of the Dolores Anticline,
located in the southern portion of the Uravan Mineral Belt.


North American Uranium Corporation initially discovered the Sun-Cup deposit in
the late 1960s, and mining commenced in 1970. The nearby Centennial deposit to
the southwest of the Sun-Cup Mine was discovered by Minerals Recovery
Corporation ("MRC"), a division of Wisconsin Public Service, in the mid-1970s.
Surface and underground exploration showed that the mines intercepted the same
deposit and further mining connected the workings into one of the largest and
most productive Salt Wash mines in the region.


Due to depressed uranium prices, MRC's large-scale operations at the mine ceased
in the early 1980s, whereby B-Mining Company (BMC) of Nucla, Colorado acquired
the CSC Project in the early 1980s and mined periodically until 1998. Production
to date is estimated to have exceeded 1 million pounds of uranium and 10,000,000
pounds of vanadium. The last recorded 5,000ton shipment of ore from the CSC
Project averaged 0.22% uranium and 1.73% vanadium (uranium to vanadium ratio of
1:8). BMC estimates significant tonnage of U3O8 and V2O5 is immediately
accessible from active headings, long holes and stope perimeters. With very
little exploration work having been performed outside of the mine area
management believes there is excellent growth potential for the CSC Project.


The Company possesses a significant historical dataset compiled from MRC's and
BMC's mining and exploration operations, from which 86 existing, un-mined
mineralized intercepts at the property have been identified, including 1.0 ft.
(0.3 m) 0.98% eU3O8, 1.5 ft. (0.5m) 0.96%, 1.0 ft. (0.3m) 0.85% eU3O8, 3.0 ft
(0.9 m) 0.42% eU3O8, 1.5 ft. (0.5 m) 0.41% eU3O8, and 9.3 ft. (2.8m) 0.20%
eU3O8. A scope and budget has been completed to bring the CSC Project back into
production and meet the Company's required US$500,000 work commitment in the
first year. The work completed by MRC and BMC pre-dates the National Instrument
43-101 policy and therefore may or may not meet the requirements of the NI
43-101 guidelines.


Beginning January 2008, the company realigned its focus from strictly
exploration to becoming a near-term uranium producer. The CSC Project represents
one of the nearest-term uranium production properties in Colorado and Utah due
to the fact that the site has active state and federal mining permits and
existing underground infrastructure is in excellent condition warranting
immediate operations.


The Company has an exclusive option to purchase the property until January 15th,
2009, at which point the company is required to pay to BMC US$160,000 as
advanced royalty each year for five years.


Mike Thompson, Vice President of Exploration and Development comments, "The CSC
Project is our Fourth high-profile Uravan Mineral Belt acquisition in 2008 and
we will be concentrating our efforts to make it our earliest production
property. With our continued acquisition of mineable pounds we view the CSC
Project as being the catalyst that brings Midasco towards being a viable uranium
producer in the United States."


We seek Safe Harbor.

On behalf of the Board,

Dustin Elford, President