Try doing this and tell me what you get.
"Setting" -> "Global Compiler settings" Tab "compiler" Tab "Other" Set "compiler logging" to "Full command line"
Here's what I got as output it may or may not look like yours.
mingw32-gcc.exe -Wall -O2 -IC:\apps\MinGW_GCC_3.4.5\include -c MULTI2.C -o obj\Release\MULTI2.o
mingw32-g++.exe -LC:\apps\MinGW_GCC_3.4.5\lib -o bin\Release\test.exe obj\Release\MULTI2.o -s -mwindows
Note: I did NOT have to add the -mwindows manually; I used the wizard to create an Win32 GUI Project and it works in release mode OK, but I get the same errors you are getting if I try to compile it in debug mode.
Verify the build target. And, if you still have problems post the Full command line results.
Note: I hope this is NOT homework, I found the code you are compiling on a school website.
Debug mode sometimes requires library that are not on most computers, if you need to do debug mode more research is needed to find debug versions of files/libraries etc.
Tim S