Midland Completes Its Evaluation of the Excellent Lithium Potential on Komo Near the Allkem New Discovery

9 May 2023

Montreal, May 9, 2023. Midland Exploration Inc. (“Midland” or the “Corporation”) (TSX-V: MD) has now completed a geological evaluation for the excellent potential for lithium on its wholly owned Komo project. The Komo project is located about 20 kilometers west of the James Bay lithium deposit owned by Allkem Limited (“Allkem”) and is strikingly similar to it in terms of lithological and structural characteristics. Allkem recently announced a new discovery of spodumene-bearing pegmatites swarms to the northwest of their lithium deposit. One of the best intersections returned up to 1.70% Li2O over 125 metres (see press release from Allkem dated May 4, 2023). Following these observations and evaluation, the Komo project has been significantly expanded, with the addition of 151 new claims covering the favorable areas.

Highlights

  • Komo located 20 km west of the James Bay lithium deposit (Allkem);
  • Komo located on the same major geological structure that hosts the James Bay lithium deposit (La Grande-Nemiscau subprovinces boundary);
  • Komo shares striking lithological similarities with the James Bay Li deposit:
    • Proximity to a large S-type granitoid batholith of the favorable Causabiscau suite, that could be the source of the Li-Ta-Be pegmatites in both cases;
    • Located at a “Goldilocks” distance of 1 to 4 kilometers from the batholith in both cases;
    • Presence of favorable contacts between amphibolites and metasediments;
  • New occurrence of Li-Ta-Be mineralization on Komo: pegmatite outcrop grab sample that returned 0.04% Li2O, 159 ppm Ta, 396 ppm Be (2022).

The Komo project is located about 20 kilometres west of the James Bay lithium deposit (Allkem Limited). The James Bay lithium deposit (Allkem) is estimated to contain 40.3 Mt at 1.4% Li2O (mineral resources) and 37.2 Mt at 1.3% Li2O (mineral reserves) (source: 2021 Feasibility Study and Maiden Ore Reserve NI 43-101 by Allkem, published on December 21st, 2021).

Both the Komo project and the James Bay lithium deposit lie at the contact between the La Grande and Nemiscau geological subprovinces. This boundary is a major structure that likely played a critical role in the emplacement of the James Bay lithium pegmatite. This major lithotectonic boundary is present 30 kilometers on the Komo project and is the most important structural feature of entire area.

Lithium deposits are very often associated with large S-type granite batholiths, that are the ultimate source for the lithium. Lithium deposits are usually not found in the batholiths themselves, however, but rather at a critical distance of 1 to 4 kilometers away from the source batholiths (also called the “Goldilocks zone”). The James Bay lithium deposit is a very good example of that relationship. It is located 3 kilometers north of a large S-type granitoid batholith of the Causabiscau suite, right within the “Goldilocks” zone. A large S-type granite batholith of the same favorable Causabiscau suite is also present just south of the Komo project. Most of the Komo project is actually located right in the heart of the “Goldilocks” zone of that favorable S-type granite batholith. This setting is considered to be highly favorable for lithium mineralization.

The James Bay lithium deposit more specifically found in a small pegmatite intrusion that is squeezed between a metasedimentary unit to the south and amphibolites to the north. Contacts between two different rock types, especially amphibolites with others, are often found to be favorable for large Li pegmatite bodies as the competency contrasts between them create openings for large intrusions. The Komo project features several identical amphibolites-metasediments contacts that are thus deemed very favorable for large Li-Ta-Be pegmatites.

Prospecting for gold on Komo in 2022 uncovered a Li-Ta-Be pegmatite outcrop that returned 0.04% Li2O, 159 ppm Ta, 396 ppm Be in a grab sample. The new Li-Ta-Be occurrence is located in the “Goldilocks” zone of a large S-type batholith, a few kilometers south of the La Grande – Nemiscau boundary. This new Li-Ta-Be occurrence further supports the lithium potential of the project.

The Komo project consists of 465 claims covering a total of 245 square kilometres. Historically, this project was worked for its gold and base metals potential and has never been explored for its excellent lithium potential. Midland is currently planning an exploration program that will be launched in the coming weeks.

Cautionary statements:

Note that grades determined from grab samples and erratic boulders may not be representative of mineralized zones.

Mineralization of the James Bay Lithium deposit mentioned in this press release may not be representative of mineralization that could be found on the Komo project.

Quality control

Rock samples from project mentioned have been analyzed by an ICP-MS method with a four-acids dissolution (ME-MS61) at ALS Laboratories (Vancouver, BC). Exploration programs are designed, and results are interpreted by Qualified Persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks with every batch of 20 samples.

About Midland

Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold and critical metals. Midland is proud to count on reputable partners such as BHP Canada Inc., Rio Tinto Exploration Canada Inc., Barrick Gold Inc., Wallbridge Mining Company Ltd, Probe Gold Inc., Agnico Eagle Mines Limited, Osisko Development Corp., SOQUEM Inc., Brunswick Exploration 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, 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
Fax: 450 420-5978
Email: 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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Projets

Abitibi
Baie James
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Projects

Abitibi
James Bay
Grenville
Nunavik

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.