Midland extends the Mythril high grade Copper-Gold-Molybdenum-Silver mineralized system to more than 2 km strike length

6 November 2018

Montreal, November 6, 2018. Midland Exploration Inc. (“Midland“)(TSX-V: MD) is pleased to announce the results of the October 2018 prospecting campaign on the Mythril project (100% Midland) in the James Bay region of Quebec. The copper-gold-molybdenum-silver mineralized system has now been identified over more than 2 kilometers on surface (0.7 km in September) and remains open in both directions (E-W). The mineralized system is interpreted based on surface Cu-Au-Mo-Ag showings. The complete dimensions of the mineralized system are not yet known.

Highlights

  • Discovery of several new Cu-Au-Mo-Ag showings and one new Mo-only showing (3.04% Mo), extending the mineralized system from 0.7 kilometers to more than 2 kilometers strike length, open east and west.
  • Average values over 45 mineralized (>0.1 % Cu) grab samples from these new showings are: 2.04 % Cu, 0.36 g/t Au, 0.11 % Mo, 17.6 g/t Ag (2.85 % Cu Eq*). Maximum values of : 12.65 % Cu ; 1.7 % Mo ; 1.51 g/t Au ; 69.8 g/t Ag.
  • Fifty-six (56) new Cu-Au-Mo-Ag mineralized floats (>0.1 % Cu) discovered in the eastern and western extensions of the system. Average values of 1.33 % Cu, 0.52 g/t Au, 0.09 % Mo, 13.3 g/t Ag (2.12 % Cu Eq*) over 56 floats (grab samples). Maximum values of : 16.95 % Cu; 4.91 g/t Au; 0.44 % Mo; 49.4 g/t Ag. Most of the floats are angular and are interpreted to be locally derived (<100m transport distance).
  • Midland significantly increased its land position around the discovery and plans to start geophysical surveys in the coming weeks.

The following tables summarize the results of new showings and major new float fields found in October on the mineralized system.

Table 1: Summary of major new Cu-Au-Mo-Ag showings found in October 2018

Table 2: Summary of new floats found in October 2018

Metal prices for the Cu Eq calculation: Au $1200/oz, Cu $2.83/lb, Ag $14/oz, Mo $11.8/lb.

*ns= non-significant result

Note that grab samples are selective by nature and grades obtained are not representative of mineralized zones.

The Mythril Project is located approximately 7 kilometers south of the Trans-Taiga Highway, Eeyou Istchee / James Bay, Quebec. In only 4 days of prospecting between June and September 2018, four (4) new surface Cu-Au-Mo-Ag showings were found, which yielded grades such as 2.74% Cu, 0.44 g/t Au, 0.06% Mo and 24.3 g/t Ag over 2.7 meters in channels (Celeborn showing). In addition, fifty-four (54) new high-grade mineralized boulders were found. The average grade of the 54 blocks was 2.61% Cu, 1.25 g/t Au, 0.13% Mo and 28.7 g/t Ag (grab samples).

Description of new clues and boulder fields found in October 2018

The new “Luthien” showing was discovered approximately 300 meters west of the Legolas showing, the westernmost significant showing previously known. The Luthien showing is a magnetite-chalcopyrite mineralized level at least 0.5 meter thick, at the bottom of a biotite gneiss outcrop. It graded 1.32% Cu, 0.45 g/t Au, 0.1% Mo and 12.9 g/t Ag in grab samples. Eleven (11) mineralized boulders were found near the showing. Grab samples from the 11 blocks averaged 1.48% Cu, 0.67 gt Au, 0.06% Mo and 17.2 g/t Ag, with maximum grades of : 4.95% Cu; 2.14 g/t Au; 0.27% Mo; 44.4 g/t Ag. About 200 metres west of the Luthien showing, a 10-centimetre thick quartz-molybdenite vein also assayed 3.04% Mo in a grab sample.

The new “Eriador” showing was discovered about 550 meters west of Luthien. Four distinct mineralized levels containing stringers of massive chalcopyrite as well as disseminated chalcopyrite and magnetite were discovered. The mineralized levels vary from 0.5 to 1.5 meters in thickness and are hosted in biotite gneisses. Nineteen (19) samples selected of these mineralized levels yielded an average of 2.47% Cu, 0.29 g/t Au, 0.13% Mo and 22.1 g/t Agand maximum values of : 12.65 % Cu; 1.02 g/t Au; 1.7 % Mo; 69.2 g/t Ag. About 25 meters west of Eriador, 7 subcrop boulders were sampled, which averaged 3.33% Cu, 0.55 g/t Au, 0.003% Mo and 18 g/t Ag in grab samples, with maximum grades of : 16.95% Cu; 3.09 g/t Au; 0.02% Mo; 43.8 g/t Ag.

The “Misty” showing is located 60 meters northwest of Eriador. It consists of an outcrop with four distinct mineralized levels that are each 10 to 20 centimeters thick. These mineralized levels assayed an average of 1.53% Cu, 0.31 g/t Au, 0.02% Mo and 14 g/t Ag six (6) selected sampleswith maximum contents of : 2.92% Cu; 0.84 g/t Au; 0.12% Mo; 28.7 g/t Ag.

The new “Liv” clue was discovered 300 meters west of Eriador. On the outcrop, several mineralized levels 20 to 50 centimeters thick composed of massive chalcopyrite stringers with disseminated magnetite are observed in the biotite gneiss. Quartz veins with massive chalcopyrite clusters are also observed. Mineralized levels in the outcrop averaged 3.25% Cu, 0.61 g/t Au, 0.12% Mo and 29 g/t Ag from five (5) grab samples, with maximum grades : 9.53% Cu, 1.51 g/t Au; 0.24% Mo; 55.6 g/t Ag.

The new “Grey Havens” clue was found 400 meters west of Eriador. This is the most westerly showing found to date, and is located more than 2 kilometers west of the Haldir showing. It consists of a quartz vein about 10 centimeters thick with massive chalcopyrite clusters in the sponge, which gradually becomes more disseminated in the host gneiss. A grab sample from the vein and its footwall graded 9.22% Cu, 0.69 gt Au and 69.8 g/t Ag. Massive magnetite+chalcopyrite zones several centimetres thick are also injected into the gneiss foliation, and assayed 1.3% Cu, 1.00 g/t Au, 0.02% Mo and 11 g/t Ag in a grab sample. Three strongly mineralized chalcopyrite±magnetite boulders were also found up to 250 metres west of the Grey Havens showing. They returned an average of 2.87% Cu, 0.22 g/t Au, 0.02% Mo and 32.8 g/t Ag in grab samples, with up to 4.15% Cu.

The “Forgotten” showing is located 150 meters west of Eriador. It is a felsic gneiss containing pyrite±chalcopyrite stringers. A grab sample from the outcrop assayed 0.85% Cu and 0.01% Mo, while a sub-in-place block assayed 1.05% Cu and 0.07% Mo.

The new Haldir showing was found approximately 50 meters northeast of the Arwen boulder field (found in September 2018), in the eastern extension of the mineralized system. Several outcrops of paragneiss distributed over a length of about 30 meters gave an average of 0.93% Cu, 0.38 g/t Au, 0.15% Mo and 5.2 g/t Ag of ten (10) selected sampleswith maximum contents of : 2.75% Cu; 1.31 g/t Au; 1.15% Mo; 15.5 g/t Ag. The mineralized zone was observed in outcrop to be at least 2 meters wide. Mineralization in outcrop consists of chalcopyrite stringers in paragneiss showing strong potassic alteration (biotite-muscovite). In addition, nineteen (19) angular boulders of local origin were also found around the showing. These 19 blocks averaged 0.67% Cu, 0.44 g/t Au, 0.18% Mo and 8 g/t Ag with maximum grades of: 1.92% Cu; 1.03 g/t Au; 0.44% Mo; 23.8 g/t Ag. In addition to the mineralized paragneiss, there are also disseminated chalcopyrite-molybdenite felsic intrusions that are not observed in outcrop, suggesting additional mineralization beneath the surface deposits.

Three new mineralized boulders were discovered in the Arwen boulder field, which had graded up to 16.8 g/t Au in September. These three new blocks had an average grade of 1.1% Cu, 2.2 g/t Au, 0.03% Mo and 17.8 g/t Ag, with maximum grades of : 2.47% Cu; 4.9 g/t Au; 0.05% Mo; 30.1 g/t Ag.

Beginning about 25 meters northeast of Haldir, abundant centimetric molybdenite flakes were found in a foliated felsic intrusion outcrop a minimum of 50 meters long by 3 meters wide (new Council showing). This index will be evaluated in the future by tight grooving. An approximately 20-centimetre wide band of chalcopyrite mineralization was also discovered in a portion of the same outcrop, which graded 0.2% Cu, 0.18 gt Au, 0.02% Mo and 2.5 g/t Ag in a grab sample (“Lindir” showing). In addition, five (5) new chalcopyrite-molybdenite mineralized felsic intrusions were found near the outcrop, and averaged 0.29% Cu, 0.2 g/t Au, 0.08% Mo and 3 g/t Ag.

A new chalcopyrite-mineralized paragneiss block with strong potassic alteration was found about 600 meters east of the Lindir showing. It graded 0.17% Cu, 0.05 g/t Au and 4.7 g/t Ag in a grab sample. Its grade is lower but is otherwise very similar to many other mineralized paragneiss blocks found further west. This block is up-ice of the known showings; therefore, it probably comes from undiscovered Cu-Au-Mo-Au mineralization located at least 600 meters east of the Lindir showing (the easternmost known to date).

Extensive soil geochemistry survey

An extensive soil geochemistry survey (Horizon B) was also conducted to cover the known mineralized system and its eastern and western extensions. The survey was approximately 3.8 kilometers long, with lines at 100 meters and samples at 15 meters along the lines. Results will be available in the coming weeks.

New extensive field position and future work

Midland is very pleased with these new results obtained in only 4 days of prospecting in October, before the arrival of winter conditions in the area. The mineralized system has now been identified over approximately 2 kilometers based on surface Cu-Au-Mo-Ag showings (0.7 kilometers in September), and remains open to the east and west.

Following this very significant discovery, Midland is in the process of obtaining claims on other areas deemed favourable, based on observations made on known showings, public data and reconnaissance work performed by Midland during the summer. A high-resolution airborne magnetic and electromagnetic survey as well as a ground-based induced polarization survey are planned for the next few weeks in the area of the discovery.

Quality control

The design of the exploration program and the interpretation of the results is performed by qualified personnel using a quality assurance/quality control program that conforms to industry best practices, including the use of standards and blanks for every 20 samples. Rock samples from the project are analyzed by standard fire assay on 30-gram fractions with either an inductively coupled plasma spectroscopy finish (ICP-AES; Au-ICP21) or gravimetric finish (Au-GRA21) at ALS Laboratories in Vancouver, British Columbia. All samples were also analyzed for several elements by a four acid dissolution ICP-AES method (ME-ICP61). Samples exceeding 1% copper, zinc or nickel were reanalyzed by ICP-AES 4-acid optimized for high content.

This press release was prepared by Sylvain Trépanier, P.Geo., Vice President, James Bay and Northern Quebec Exploration at Midland, a “qualified person” as defined by NI 43-101.

About Midland

Midland is counting on Quebec’s excellent mineral potential to make the discovery of new deposits of world-class gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as Agnico Eagle Mines Ltd, IAMGOLD Corporation, Osisko Mining Inc, Altius Minerals Corporation, SOQUEM INC, NioBay Metals Inc, Nunavik Mining Exploration Fund and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude agreements in this regard with respect to its newly acquired properties. Management is currently evaluating other opportunities and projects to enhance the Company’s portfolio and create added value for shareholders.

For further information, please consult Midland’s website or contact

Gino Roger, President and Chief Executive Officer

Tel. : 450 420-5977 : 450 420-5977

Fax : 450 420-5978 : 450 420-5978

E-mail : info@midlandexploration.com

Website: www.explorationmidland.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Midland’s periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities. –

Documents

MARIO MASSON, P. GEO.

V.P. Exploration

More than 30 years of experience in mineral exploration in Quebec.

Mario Masson holds a Bachelor’s degree in Geology from the Université de Montréal. Before joining Midland’s team, Mario worked several years has a geologist at Nipadex and Muscocho. In 1990, he started working for Noranda Exploration in Matagami has a Project Geologist and was a part of the team that found the Orchan West and Bell Allars deposits. He was also involved in the discovery of the Perseverance deposit in the Matagami Mining Camp in 2000. After this discovery, Mario and his team win the PDAC Bill Dennis Award in 2001. From 2002 to 2007, he was in charge of the exploration activities in the Noranda Mining Camp has a Senior Geologist for Noranda Inc – Falconbridge ltée – Xstrata Copper. In addition, he was also involved in the discovery of the West Ansil deposit in the Noranda Mining Camp in 2005, which allowed the Falconbridge ltée exploration team to win the Prospector of the Year award at the QMEA. Since January 2008, he is a part of Midland Exploration team as VP Exploration.

GINO ROGER, P.ENG.

President,CEO, Director

Gino Roger has been President and Chief Executive Officer of the Company since November 1, 2006. Mr. Roger has graduated as a geological engineer from Laval University in 1990. From May 1990 to October 2006, Mr. Roger was a Project Geologist, Senior Geologist and Regional Geologist for Xstrata, Falconbridge and Noranda. During those years he was actively involved in the generation, acquisition and negotiation of many significant projects and discovery of mineral deposits. He worked in Quebec, Ontario, B.C., Yukon and Sweden on a wide variety of projects involving gold, VMS, SEDEX, MVT, and IOCG ore deposits. Mr. Roger and his team received the AEMQ’s prestigious Prospector of the Year Award in 2005, for the discovery of the West Ansil deposit. He is a member of the Ordre des ingénieurs du Québec and of the Canadian Institute of Mining, Metallurgy and Petroleum. He is a director of the Quebec Mineral Exploration Association.

JEAN-PIERRE JANSON

Chairman of the Board

Jean-Pierre Janson joined Richardson GMP in January 2005 as Managing Director, National Wealth Management. As such, he oversees the development of branches nationwide, and seeks new opportunities to bring some of the industry’s Top Investment Advisors to the firm. In addition, Mr. Janson also serves on the Richardson GMP’s executive committee and in that capacity works closely with the Executive Management Team on the firm’s strategic direction.

Mr. Janson was previously Managing Director of CIBC Wood Gundy Financial Services (Eastern Canada Region) and held senior management positions with both Merrill Lynch Canada Inc. and Midland Walwyn Inc. Having built a reputation of trust and respect during more than 30 years in the financial services industry, Mr. Janson continues to demonstrate his involvement through Richardson GMP Limited. He also serves as trustee of BTB Real Estate Investment Trust and as member on the board of Tri-Origin Exploration Limited.

RENÉ BRANCHAUD

Secretary and Director

René Branchaud holds an LLB from Université Laval obtained in 1982. He has been a lawyer since 1983 and is a partner of the law firm Lavery, de Billy L.L.P. He has a vast experience as secretary and director of mining corporations.

INGRID MARTIN

Chief Financial Officer

Ingrid Martin holds a Bachelor in Business Management from the École des hautes études commerciales (HEC), in Montréal, Quebec. She is a member of the Order of Chartered professional accountants of Quebec since 1990 and possesses a vast experience as consultant for public companies. She acts, also, as Chief Financial Officer of Vior Inc. Mrs. Martin is devoting 40% of her time to Midland Exploration.

PAUL ARCHER

Director

Paul Archer has a Bachelor’s degree in Geological Engineering and a Master’s degree in Earth Science. He has more than 35 years of experience in the mining industry, particularly in exploration for gold and base metals in Archean terrains. He developed his expertise working with various companies, including Shell Minerals, Noranda Exploration, Northgate Explorations, Westminer Canada and SOQUEM, where he was Regional Manager for Northern Quebec. On May 1, 1996, Mr. Archer joined Virginia Mines as Vice-President of Exploration and Acquisitions and Director. Mr. Archer was actively involved in the discovery and development of the Eleonore project, from the preliminary field campaign through to the sale of the deposit to Goldcorp. In November 2014, he joined Osisko’s management team following the Osisko/Virginia merger. He was elected President of the Quebec Prospectors Association in 1996 and 1997. Over the years, Mr. Archer has received, on behalf of Virginia, several prestigious prizes, including the Bill Dennis Award from the PDAC in 2006 for the discovery of the Eleonore deposit.

ANNIE DUTIL

Director

Annie Dutil is a member of the Quebec CPA Order and is Nomad’s corporate controller. Ms. Dutil brings over 15 years of extensive mining knowledge, specifically in the areas of public accounting, compliance with financial information obligations and regulatory matters. Prior to joining Nomad, Ms. Dutil has held a number of positions at PwC, including a role as director where she has led the Capital Markets and Accounting Advisory Services group in Montréal. In her current and previous roles, she has assisted several companies in their capital markets activities, including initial public offerings, financings, cross-border transactions and complex accounting and regulatory matters. Ms. Dutil is the co-founder of the Montreal chapter of Women in Mining and is involved in many community and philanthropic activities, currently serving as a member of the Board of Directors of Factry, the School of the Creative Sciences, and Théâtre de la Banquette Arrière.

Jean des Rivières

Director

Mr. Jean des Rivières holds a Bachelor of Science degree in Geology from Université du Québec à Montréal and a Master’s degree of Science in Geology from École Polytechnique de Montréal affiliated to the University of Montreal. He has over 35 years of diversified experience in the exploration and mining industries while working in more than 50 countries touching base and precious metals. He most recently held the position of global Vice President Metals Exploration at BHP and previously held managerial and technical positions at Rio Algom, BHP, and Noranda. With BHP, Mr des Rivières chaired the Inclusion and Diversity committee of the Americas. After a successful career, he recently joined the board of directors of First Majestic Silver Corp., Montero Mining and Exploration Ltd., and Midland Exploration Inc.

JEAN-FRANÇOIS LARIVIÈRE, P.GEO.

Project geologist

More than 10 years of experience in mineral exploration in Quebec.

Project geologist for Midland Exploration, Jean-François holds a PhD from Université du Québec à Chicoutimi in Mineral resources, specialist in zinc-bearing mineralization with an expertise in metallogeny of metalliferous deposits.

RICHARD ST-CYR, P. GEO.

Project geologist

More than 30 years of experience in mineral exploration in Quebec, British Colombia and Dominican Republic.

Project Geologist for Midland Exploration since 2012, Richard holds a Bachelor degree in Resources Geology from Université du Québec à Montréal. Before joining Midland’s team, he was a Project Geologist for Services Technominex – Aurizon Mines, Sirios and Unigold on several gold exploration projects. Between 1997 and 2006, he worked has a Project Geologist (5 years) and Technical Director (4 years) for the Nunavik Mineral Exploration Fund. At the beginning of his career, Richard worked as a Prospector for SOQUEM, Virginia Gold / Barrick Gold on gold projects in James Bay and Northern Quebec. He was also involved in the exploration of the Eskay Creek discovery in British Colombia.

LOUIS-PHILIPPE RICHARD, P.GEO.

Project geologist

More than 10 years of experience in mineral exploration in Quebec.

Project geologist for Midland Exploration, Louis-Philippe holds a Bachelor’s degree in Geology from Université Laval. Prior to joining the team, he worked 4 years for Nemaska Exploration / Monarch Resources / Nemaska Lithium in the Nemiscau area where he managed and participated exploration campaigns for lithium, gold and base metals. He also participated in the development of the Whabouchi lithium project.

Romain Deflin, Geo., Jr

Trainee Geologist

Trainee geologist for Midland Exploration, Romain Deflin holds a degree in geological engineering from l’ENSG (École National Supérieure de Géologie in Nancy) and a master degree in Mineral Resource Exploration from Université de Lorraine. He completed a 4 months internship with Midland before joining the team permanently in 2019.

Philippe Allard, Geo. M.Sc.

Project geologist

More than 20 years of experience in mineral exploration in Québec, Canadian Arctic, and Dominican Republic.

Project Geologist for Midland Exploration since May 2019, Philippe holds a Bachelor degree in Geology and a master in Earth Sciences from UQAM (Université du Québec à Montréal). Before joining Midland’s team, Philippe worked as an Exploration Geologist for Goldcorp, Ressources Sirios, Unigold and the Nunavik Mineral Exploration Fund (NMEF). At the beginning of his career, he also worked as an assistant geologist and a geologist for Virginia Gold Mines, Cambiex, Miramar Mining, Noranda Exploration, SOQUEM and Services Miniers du Nord on gold and base metals projects, mainly in James Bay. Moreover, he was at the origin of the discovery by prospection of the Cheechoo deposit in James Bay in 2010.

SYLVAIN TRÉPANIER, P.GEO.

Geologist Consultant

More than 20 years of experience in mineral exploration and research in Quebec.

Sylvain Trépanier holds a Bachelor’s degree in Geology, a Master’s degree in Earth Science and a Bachelor’s degree in Computer Science and Software Engineering from Université du Québec à Montréal. Sylvain began his career for Noranda in 1995 and worked on various projects in Quebec until 2001. From 2004 to 2012, he worked has a research geologist at CONSOREM. During his years working at CONSOREM, he has carried out numerous research projects applied to mineral exploration and has developed expertise recognized in Quebec in various fields related to exploration: lake-bottom, streams and tills sediments geochemistry, alterations lithogeochemistry, statistical data processing and potential mineral evaluation by artificial intelligence. He is the author of several scientific articles, research reports and public presentations. He designed and developed the Lithomodeleur software for geochemistry treatment, which is now widely used in Quebec by exploration companies, governments and universities. From 2012 to 2016, he worked for Virginia Mines and Osisko Gold Royalties as a Senior Research Geologist and was involved in most of the company’s projects in James Bay and the Labrador Trough. He is co-recipient of the QMEA Jean-Descarreaux Award in 2011 with the CONSOREM team. Mr. Trépanier joined Midland in November 2016 as a VP Exploration James-Bay/Northern Quebec.