Midland Issues an Update on Its Activities in Quebec and Identifies Several New Exploration Targets

27 October 2021

Montreal, October 27, 2021. Midland Exploration Inc. (“ Midland ”) ( TSX-V: MD ) is pleased to issue an update on its latest exploration activities across Quebec. Over the last few months, Midland and its partners have been very active in the field with a variety of drilling, stripping, geochemical sampling and prospecting campaigns. Several new mineral occurrences were discovered, and a number of new exploration targets were identified on various projects.

Two drilling campaigns were completed on the Casault and Gaudet-Fenelon JV projects during the summer, for a total of nearly 10,000 meters of drilling. On Casault, a new gold-bearing zone was recently identified in hole CAS-21-123 (see Midland press release dated October 21, 2021 ).

Overall, more than 7,000 samples were sent to the laboratory for assaying and assay results are currently pending.

Highlights

  • New Au-bearing zone on Casault returned 6.85 g/t Au over 2.0 meters in hole CAS-21-123
  • 13 drill holes (5,295 meters) completed on the Casault project under option by Wallbridge
  • 14 drill holes (4,483 meters) completed on the Gaudet-Fenelon JV project with Probe
  • Two (2) new high-grade boulders discovered east of Mythril; 10.25 g/t Au, 8.0 g/t Ag and 7.99 g/t Au, 166 g/t Ag, 0.4% Cu, 0.07% Mo
  • Prospecting programs completed in Nunavik under our Alliances with BHP and SOQUEM
  • Stripping and channel sampling completed on the Golden Nest showing on Lewis
  • More than 7,000 assay results pending

Abitibi region

Casault project (100% Midland – Under option by Wallbridge Mining)

A drilling program consisting of thirteen (13) drill holes totalling 5,295 meters was recently completed to test a series of NW-SE-trending structures interpreted from the magnetic survey.. These targets are located a few kilometres north of the Sunday Lake Fault and west of the Martiniere and Bug Lake deposits.

Hole CAS-21-123, the first drill hole of the program, was testing a prominent NW-SE oriented structure interpreted from airborne magnetics and intersected 6.85 g/t Au over 2.0 meters from 254.50 to 256.50 metres. This new intersection is associated with a mineralized zone consisting of chalcopyrite, pyrite, pyrrhotite, and electrum, a gold-silver mineral phase, within deformed and heavily carbonate-altered host rocks. This NW-SE structural orientation remains untested over more than 3 kilometres on the Casault property and is known to control gold mineralization at Fenelon and Martiniere. A series of large structures of this trend also transects the Casault property. Complete assay results are pending.

Gaudet-Fenelon JV project (50% Midland – 50% Probe Metals)

Over the course of August and September, fourteen (14) drill holes totalling 4,483 meters were completed to test induced polarization anomalies coinciding with biogeochemical anomalies and structures interpreted from the magnetic survey. Assay results are pending.

La Peltrie project (100% Midland – Under option by Probe Metals)

On the La Peltrie project, three (3) induced polarization grids were surveyed this summer to cover biogeochemical anomalies identified along the perimeter of a syntectonic intrusion. The final results and interpretation of the three surveys are pending. A follow-up campaign is in preparation for 2022.

Samson project (100% Midland)

A black spruce bark biogeochemistry survey was conducted in the winter of 2021 in the vicinity of the new high-grade gold discovery at Golden Delilah, which graded up to 99.1 g/t Au over 0.40 metre (DDH SAM-20-10; 106.45-106.85 m) and 23.0 g/t Au over 1.05 metres (DDH SAM-20-15; 317.10-318.15 m). This biogeochemistry survey identified a new gold anomaly located approximately 2 kilometres southeast of the Golden Delilah showing. This new area has never been drill-tested and is located near the western contact of a felsic pluton, where identified gold anomalies are aligned along structures mainly trending NW-SE and N-S.

Adam project (100% Midland)

In the spring of 2021, a black spruce bark biogeochemistry survey covering the entire Adam property was completed. The results highlighted several areas with anomalous Au, As, Cu and Zn values, some of which are located along the same stratigraphic level as the B26 deposit, i.e., just north of the regional fault marking the contact between the Enjalran and Brouillan groups. In addition, several of these anomalies coincide with new untested helicopter-borne VTEM-type electromagnetic anomalies

Mistaouac project (100% Midland)

A black spruce bark biogeochemistry survey was completed to cover the entire property. Several anomalies were identified, one of which is of particular interest along the contact of the Orvilliers pluton. This kilometre-scale anomaly is characterized by elevated values in Au, Ag, Cu, Mo, Sb and Te.

Lewis project (100% Midland)

Following the discovery made this past summer by prospecting at the Golden Nest showing, where grab samples yielded grades of 10.2 g/t Au and 2.1 g/t Au, mechanical stripping and channel sampling were completed in September. Approximately 50 samples are currently in the laboratory and assay results are pending.

Patris project (100% Midland)

New exploration targets were identified following a new lithogeochemical interpretation of the entire property. These new targets include the depth extension of drill holes PAT-15-05 and PAT-16-08, which identified an extensive hydrothermal alteration zone (Au-Ag-Pb-Mo-Te) more than 80 meters wide In addition, two new target areas associated with Camflo-type alkaline intrusions were identified near the La Pause Fault, where turbidites of the Kewagama Group are in contact with volcanic rocks of the Malartic Group.

James Bay region

Mythril and Mythril Regional projects (100% Midland)

Over the course of August, a prospecting campaign led to the discovery of two new high-grade boulders on the Chisaayuu claim block of the Mythril Regional project. These gold-bearing boulders are located approximately 75 kilometres east of the Cu-Au-Ag-Mo Mythril zone, where the 3D model is currently being updated to include the results of the 2021 drilling program. These results include hole MYT-21-38 where 0.59% Cu, 0.05 g/t Au, 1.87 g/t Ag and 0.025% Mo over 28.50 meters, including 1.02% Cu, 0.09 g/t Au, 2.62 g/t Ag and 0.048% Mo (1.29% eq. Cu*) over 10.50 meters from 56.50 to 67.00 meters.

The two mineralized boulders discovered this summer on Chisaayuu yielded values of (in Boulder 1) 10.25 g/t Au, 8.02 g/t Ag (in Boulder 2) 7.99 g/t Au, 166 g/t Ag, 0.4% Cu and 0.07% Mo. A till sampling program is in preparation for the summer of 2022, as a follow-up and to locate the source of the boulders.

Galinée project (Midland 100%)

Prospecting work carried out in August on the Galinée gold project identified several new gold-bearing boulders that yielded values in grab samples up to 1.43 g/t Au, 1.40 g/t Au and 1.08 g/t Au south of the Elsa showing. south of the Elsa showing. Other boulders were also discovered approximately 2 kilometres further west, grading up to 0.96 g/t Au and 0.50 g/t Au (grab samples). Several induced polarization anomalies remain unexplained to the north of these gold-bearing boulders.

Elrond project (100% Midland)

The final results of the 80 till samples collected over the summer, southwest of Harfang Exploration Inc.’s Serpent gold project, are pending.

Nunavik region

Ni-Cu Alliance with BHP in Nunavik

A three (3)-week prospecting program was completed in September and October under the Ni-Cu Alliance with BHP. This program was mainly designed as a ground follow-up of VTEM-type electromagnetic anomalies identified during the summer 2021 survey. More than 100 samples were collected, and assay results are pending.

Alliance with SOQUEM in the Labrador Trough

During the summer of 2021, two phases of prospecting totalling three weeks each were conducted in partnership with SOQUEM under the Labrador Trough Alliance. More than 900 samples were collected, and assay results are pending.

Cautionary statement

  • Grab samples are selective by nature and reported values are not necessarily indicative of mineralized zones.
  • The true thickness of reported intervals cannot be determined with the information currently available; intervals are thus reported in core length.
  • Mineralization occurring on the Fenelon Gold and Martiniere/Bug Lake projects held by Wallbridge are not necessarily indicative of mineralization that may be found on the Casault property held by Midland.

Quality Control

Drill core samples from the 2021 drill program at Casault were cut and bagged on site and transported to AGAT Laboratories Ltd. for analysis. Samples are crushed to 75% less than 2mm. A 250g riffle split is pulverized to 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS. Samples >10g/t Au are automatically analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis for samples containing visible gold. These and future assay results may vary from time to time due to re‒analysis for quality assurance and quality control.

Exploration program design and interpretation of results on Galinee and Chisaayuu projects is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks with every 20 samples. . Rock samples on the project are assayed for gold by standard 30-gram fire-assaying with inductively coupled plasma atomic emission spectroscopy (ICP-AES; Au-ICP21) or gravimetric finish (Au-GRA21) at ALS Minerals laboratories in Vancouver, British Columbia. All samples are also analyzed for multi-elements using the four-acid ICP–AES method (ME-ICP61), also at ALS Minerals laboratories in Vancouver, British Columbia. Samples that exceed 1% copper, zinc, molybdenum, or nickel are reanalyzed by four-acid ICP-AES optimized for high grades.

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 BHP Canada Inc., Probe Metals Inc., Wallbridge Mining Company Ltd, Agnico Eagle Mines Limited, Osisko Development Corp., SOQUEM INC., 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.

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 : https://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.

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.