Midland enters strategic alliance with SOQUEM in the Grenville and regains 100% interest in the Casault and Jouvex Projects

27 February 2020

Montreal, February 27, 2020. Midland Exploration Inc. (” Midland “) ( TSX-V: MD ) is pleased to announce a new strategic alliance with SOQUEM in the Grenville Province and an agreement to regain 100% interest in the Casault and Jouvex gold projects, previously in joint venture with SOQUEM. In exchange, Midland relinquishes 50% interest in its seven (7) properties grouped under the Gatineau Zinc project located in the Grenville Province, south of the town of Maniwaki, Quebec.

Strategic Alliance in the Grenville

SOQUEM and Midland agree to enter into a joint venture agreement and a strategic alliance in the Grenville. SOQUEM and Midland will jointly implement a targeting approach to identify and assess the mineral resource potential and to acquire mining rights covering the best targets for base metals.

Projects acquired under the target generation program will be declared “Designated Projects” once the mining rights have been acquired. Each Designated Project will be the object of a distinct joint venture agreement, the terms of which will be similar to the joint venture agreements to be signed relating to the active properties.

A management committee composed of four members, two nominated by each party, will manage activities conducted under the target generation program for the duration of the agreement. The parties are not subject to budgetary obligations under the target generation program. The budget will be defined by the management committee. The target generation program will last for a period of 2 years, unless it is extended by mutual written consent of both parties.

SOQUEM will be project manager under the target generation program and for all joint ventures formed on Designated Projects; Midland may assign up to 30% of personnel.

Midland regains 100% interest in the Casault and Jouvex projects (the “Properties”)

Under the agreement, SOQUEM transfers to Midland its 50% interest in the Properties in exchange for

  • A 1% NSR royalty; Midland may, at any time, buy back the royalty, in all or in part, by making a cash payment of $1,000,000 per tranche of 0.5% NSR; and
  • 50% undivided interest in a joint venture relating to seven (7) existing mining properties located in the La Vallée-de-la-Gatineau regional county municipality (“MRC”), wholly owned by Midland (the “Existing Properties”).

The Properties

The Casault project is located approximately 140 kilometers north of the town of La Sarre, in Abitibi, Quebec. The property consists of 316 claims covering a surface area of approximately 174 square kilometres, about 40 kilometres east of the Detour Lake gold deposit. Gold is associated with quartz veining in altered mafic volcanic rocks with disseminated pyrite mineralization. Drill hole CAS-12-07 intersected 10.4 g/t Au over 1.45 m between 176.60 and 178.05 m ( see press release dated April 26, 2012 ). Drill hole CAS-12-07 intersected 10.4 g/t Au over 1.45 m from 176.60 to 178.05 m( see press release dated October 22, 2015 ). A gold-bearing porphyry intrusion (QFP) was also recognized on the property in 2017 (Vortex zone). Drill hole CAS-17-96 yielded a grade of 1.38 g/t Au over 26.5 m in this zone between 155.80 and 182.00 m, including 7.9 g/t Au over 2.2 m from 179.80 to 182.00 m( see press release dated January 18, 2018 ). The property is well positioned less than 10 km of the Tabasco / Fenelon and Area 51 gold discoveries of Wallbridge. A new drilling program is currently in preparation.

The Jouvex property is located approximately 50 kilometers west of the town of Matagami, in Abitibi, Quebec. The property consists of 248 claims covering a surface area of approximately 138 square kilometres. The property covers a 10-kilometre-long segment of the Casa Berardi fault zone that exhibits a regional flexure. Numerous gold-bearing drill intercepts are reported in sedimentary rocks and iron formations, in a setting similar to the Casa Berardi mine located 65 kilometers further west.

The Existing Properties

The Bouchette property is located east and southeast of the municipality of Messines, and 12 kilometers south of the town of Maniwaki in La Vallée-de-la-Gatineau MRC. It consists of 31 map-designated cells totalling 1,843.48 ha. The property hosts the Bouchette prospect. Hole BO-94-03, drilled in 1994 (GM53111) had returned 3.3 % Zn over 9.6 m between 9.5 and 19.1 m.

The Leitch property is located 7 kilometers northeast of the municipality of Gracefield in the La Vallée-de-la-Gatineau MRC. It consists of 40 map-designated cells covering a surface area of 2,384.84 ha. The property encompasses the Leitch zinc prospect and the former Lafontaine zinc mine. Two channels completed on the Leitch surface showing had returned 24.1 % Zn over 3.0 meters and 32.4 % Zn over 1.8 meters (unpublished data). Another channel cut on the Lafontaine showing had returned 21.0 % Zn over 2.0 meters (unpublished data).

The Aumond property is located 3 kilometers east of the municipality of Aumond in La Vallée-de-la-Gatineau MRC. It consists of 37 map-designated cells totalling 2,191.61 ha. An historical channel had yielded 6.08 % Zn over 0.8 meters (GM56261).

The Chute-Rouge property is located 7 kilometres west of the town of Grand-Remous in the La Vallée-de-la-Gatineau MRC. It consists of 50 map-designated cells covering a surface area of 2,955.45 ha.

The Blue Sea property is located 1.5 kilometers southeast of the municipality of Blue Sea in La Vallée-de-la-Gatineau MRC. It consists of 3 map-designated cells totalling 169.53 ha.

The Bois Franc property is located 2.5 kilometres north of the town of Maniwaki and borders, to the east, the Egan-Sud and Bois-Franc municipalities in the La Vallée-de-la-Gatineau MRC. It consists of 71 claims covering a surface area of 4,127.67 ha.

The Zone A property is located 1.5 kilometers southeast of the municipality of Blue Sea in La Vallée-de-la-Gatineau MRC. It consists of 27 map-designated cells covering a surface area of 1,610.04 ha.

Cautionary statement

Mineralization occurring at the Detour Lake mine and on the Fenelon project/Tabasco/Area 51 is not necessarily representative of mineralization that may be found on the Casault property.

Note that the true thickness of reported drill and channel intervals cannot be determined with the information currently available.

About SOQUEM

SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. A proud partner and ambassador for the development of Quebec’s mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future.

About Midland

Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as SOQUEM INC., BHP Billiton Canada Inc., Agnico Eagle Mines Limited, O3 Mining, Nunavik Mineral Exploration Fund, and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up the Company portfolio and generate shareholder value.

This press release was prepared by Mario Masson. P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101, who also approved the technical content of this press release.

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.midlandexploration.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. –

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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, ing.

President,CEO, Director

Since November 1, 2006, Gino Roger has been President and CEO of Midland Exploration Inc. In 1990, he obtained his Bachelor’s degree from Laval University in Geological Engineering. . From May 1990 to October 2006, Mr. Roger was a senior and regional project geologist for Xstrata, Falconbridge and Noranda. He actively participated in the generation, acquisition and negotiation of a number of projects and the discovery of base metal deposits. He mainly worked in Quebec, Ontario, BC-Yukon and Sweden on different metallogenic projects and environments: gold, VMS, Sedex, MVT and IOCG. He and his team received the prestigious QMEA prospector of the year award in 2005 for the discovery of the West-Ansil deposit. Mr. Roger is a member of the Ordre des ingénieurs du Québec. He acted as an administrator of the Quebec Mineral Exploration Association (QMEA) for more than 28 years and is still an administrator of CONSOREM.

Jean-Pierre Janson

Chairman of the Board

Since 2019, Jean-Pierre Janson has been a consultant for Richardson Wealth Limited. From 2005 to 2019, he was Senior Director, National Wealth Management, at Richardson GMP Limited. He has also been a director and Chairman of the Board of Midland Exploration Inc. since 2005. Over the past 30 years, Mr. Janson has served as Managing Director at CIBC Wood Gundy Financial Services (Quebec) Inc. (Eastern Canada) and held executive positions at Merrill Lynch Canada Inc. and Midland Walwyn Inc. He has also been a director of Tri Origin Exploration Ltd. since May 2004 and a trustee of BTB Real Investment Trust since September 2007. In addition, he is a director of SIDEX s.e.c. and Harfang Exploration. In over 30 years in the financial services industry, he has built a reputation of trust and respect.

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 20 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, P.Geo.

Project Geologist

Project 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.