Midland and Wallbridge Resume Drilling on the New Gold Discovery on Casault

22 March 2022

Montreal, March 22, 2022. Midland Exploration Inc. – (“ Midland ”)(TSX-V : MD), in partnership with Wallbridge Mining Company Ltd (“Wallbridge”), is pleased to announce the beginning of a new drilling campaign following up on the new gold discovery made in 2021 in the north part of the Casault project (“Casault or the ” property ”). This new discovery was made along a NW-SE trending structure approximately 5 kilometers west of the Martinière (“ Martinière ”) gold project held by Wallbridge.

New to follow-up drilling program on 2021 discovery

The drilling program will begin late March 2022 and will consist of three (3) drill holes totalling approximately 1,100 metres, mainly designed to test the continuity and validate the orientation of the gold zone intersected in discovery hole CAS-21-123. In the latter, an interval gradin 6.85 g/t Au over 2.00 meters from 254.40 to 256.50 meters,was reported during the summer 2021 drilling campaign( see Midland press release dated October 21, 2021 ). Other additional holes are being evaluated in the area for future drilling programs.

During this phase, three (3) drill holes are planned to follow up on hole CAS-21-123. Two (2) holes will be drilled in the immediate vicinity of discovery hole CAS-21-123 and a third hole will be collared approximately 1 kilometre to the southeast, along the same structure. Two (2) holes will be drilled near hole CAS-21-123 and a third hole will be completed further to the southeast approximately 1 kilometer along the same structure.

  • One drill hole totalling 350 metres will be drilled towards the southwest, scissor-style, along the same section as hole CAS-21-123, to test the orientation of veins/intrusions that control gold mineralization.
  • One drill hole totalling 400 metres will be drilled towards the north, to intersect the mineralized zone below hole CAS-21-123 and test the lithological and structural controls of gold mineralization in this area.
  • The final drill hole, totalling 350 metres, will be collared approximately 1 kilometre southeast of the discovery hole and will be drilled towards the northeast, to test the same structure intersected in hole CAS-21-123. The magnetic high observed in this area may indicate the presence of a magnetite-bearing pyroxenite that could have acted as a chemical trap for gold.

New gold discovery in 2021

The first drill hole (CAS-21-123) had intersected new gold mineralization with a visible gold-bearing interval returning 6.85 g/t Au over 2.00 meters . This intersection is considered significant, as it is located in the northern, largely untested part of the Casault property, where no gold zone has been known so far, approximately 2 kilometres from the nearest anomalous gold intersections both on the Casault and Martiniere properties.

Hole CAS-21-123 was testing a prominent NW-SE oriented structure interpreted from airborne magnetics. This structural orientation is known to control gold mineralization at Fenelon and Martiniere, and a series of large structures of this trend also transects the Casault property. The particular structure tested by CAS-21-123 extends for an approximately 8 kilometres across Wallbridge’s Martiniere, Casault and Doigt properties and was historically tested by one drill hole on Martiniere, yielding 30.40 g/t Au over 0.44 metre, which has not been followed-up since.

The intersection in hole CAS-21-123 is associated with a mineralized zone composed of chalcopyrite, pyrite, pyrrhotite and electrum, a gold-silver mineral, hosted in deformed rocks strongly altered in carbonates.

Casault Gold Property

The Casault property is located approximately 110 kilometres west of the town of Matagami, between Wallbridge’s Martiniere and Detour East gold properties. Wallbridge has an option to acquire up to a 65% interest in the 177 km2 project from Midland Exploration ( see Midland’s press release dated June 18, 2020 ). Casault covers more than 20 kilometres of the SLDZ, along which Wallbridge’s Martiniere and Fenelon gold deposits are located and which also hosts Kirkland Lake Gold’s world-class Detour Lake Mine.

The Casault property also hosts the Vortex Zone, a syenite-associated disseminated gold system with drill hole intersections grading up to 1.38 g/t Au over 26.5 metres that was traced over a distance of 1.5 kilometre.

Cautionary statement

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.

About Wallbridge

Wallbridge is currently advancing the exploration and development of its 100%‒owned Fenelon Gold property located along the Detour‒Fenelon Gold Trend, an emerging gold belt in northwestern Québec. Within three years of the discovery of the Area 51 and Tabasco/Cayenne Zones, through drill programs totaling over 300,000 metres, Wallbridge reached an important milestone by announcing a maiden MRE for Fenelon and an updated MRE for the Martiniere Gold Property totalling 2.67 Moz Au in the indicated category and 1.72 Moz Au in the inferred category (for details of the MREs see Wallbridge press release dated November 9, 2021 and Technical Report filed December 23, 2021 on SEDAR).

Both properties are located on the Company’s 910 km2 land package along the Detour-Fenelon Gold Trend in Northern Abitibi, Québec, with significant potential for further discoveries over a 97‒kilometre strike length of this underexplored belt.

Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately‒held company with a portfolio of nickel, copper, and platinum‒group metals (PGM) projects in Ontario’s Sudbury Basin.

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 Wallbridge Mining Company Ltd, BHP Canada Inc., Rio Tinto Exploration Canada Inc., Probe Metals Inc., 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 Corporation 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 in conjunction with Wallbridge technical team.

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


Gino Roger, President and Chief Executive Officer
Tel.: 450 420-5977
Fax: 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. –

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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, 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 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.