MD.V · 2026-02-26 12:00:00

Midland Commences an Induced Polarization Geophysical Survey ON Its Caniapisc Au Project

Exploration Programs

MIDLAND COMMENCES AN INDUCED POLARIZATION GEOPHYSICAL

SURVEY ON ITS CANIAPISC AU PROJECT

Montreal, February 26, 2026 . Midland Exploration Inc. (“Midland”) ( TSX-V: MD ) is pleased to

announce the start of an induced polarization ground (“IP’) geophysical survey on its Caniapisc Au

project, in the Eeyou Istchee James Bay and Caniapiscau regions. The Caniapisc Au project is wholly

owned by Midland and consists of 315 excl usive exploration rights (“EER”) covering an area of 159

square kilometres.

Highlights:

• The 2025 exploration programs successfully identified several gold-bearing boulders, with a

maximum value of 24.5 g/t Au on a selected boulder grab sample (see press release by Midland

dated October 28, 2025);

• Start of a 24 line-kilometre ground IP geophysical survey covering part of the southern part

of the project where several mineralized boulders were identified in 2025.

The 24 line-kilometre IP geophysical survey will cover the lake north of the gold-in-till anomalies (see

press release by Midland dated May 20, 2025) in the southern part of the project, and extend northward

to cover gold -bearing mineralized boulders identified in 2025 ( see press releases by Midland dated

September 9 and October 28, 2025). The objectives of this first IP survey by Midland are to generate

exploration targets and gather bedrock information for the upcoming summer exploration program. The

upcoming programs in preparation include a follow-up prospecting and geological mapping program, a

soil sampling program to complete the coverage of the project, and an airborne LiDAR survey. Summer

mechanical trenching is also currently being evaluated.

Caniapisc Au Project

The Caniapisc Au project lies south of the Caniapiscau Reservoir and is geologically located within the

Ashuanipi Subprovince, a lesser -known and explored portion of the Archean Superior Province. The

project is more specifically located in the Raynouard C omplex, characterized by a 50 kilometre -long

volcanosedimentary belt comprising bimodal volcanic sequences, metasedimentary rocks and iron

formations. Historical exploration work, to the south of the Caniapisc Au project, highlights the potential

of the Raynouard Complex with the presence of volcanogenic Cu-Zn-Ag-Au and porphyry Cu-Au-Ag-

Mo mineralization. The Caniapisc Au project is strategically located north of these showings, where a

historical 2014 till sampling survey identified gold anomalies. Results from five (5) till samples in 2025

confirm the historical gold-in-till anomalies (see press release by Midland dated May 20, 2025).

The 2025 exploration programs on the Caniapisc Au project included geological mapping, prospecting,

soil sampling, and a magnetic and electromagnetic geophysical survey . These programs successfully

identified several Au-Zn-Mn-Ag and Au-Zn-Ag-(Pb)-bearing boulders within a 2-kilometre radius up-

ice from gold-in-till anomalies where 16 selected grab samples yielded values greater than 2.0 g/t Au ,

including a sample returning 24.5 g/t Au (see press releases by Midland dated September 9 and October

28, 2025). While boulders are mostly observed until now in the project area, an amphibolite outcrop in

the south-western part of the project returned a value of 0.56 g/t Au from a selected grab sample (see

press release by Midland dated October 28, 2025). A 2001-kilometres magnetic and electromagnetic

geophysical survey covering the Caniapisc Au project was completed and the final data is being

evaluated to further understand the geological and structural context of the project.

Cautionary statements

Grab samples are selective by nature and reported values are not necessarily indicative of mineralized

zones.

Mineralization occurring at deposits and former mines mentioned in this press release is not necessarily

indicative of mineralization that may be intersected on projects held by Midland described in this press

release.

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 Rio Tinto

Exploration Canada Inc., BHP Canada Inc., Centerra Gold Inc., Barrick Mining Corporation., Agnico

Eagle Mines Limited, Wallbridge Mining Company Ltd, Fresnillo plc, Electric Elements Mining 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 othe r opportunities and projects to build up Midland’s

portfolio and generate shareholder value.

Qualified Person and Chief Geologist Jean -François Larivière, P. Geo, Ph. D, prepared, reviewed and

approved this press release and verified the project data as Midland’s qualified person (QP) within the

meaning of National Instrument 43-101.

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: [email protected]

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.

Forward-Looking Statements

This news release contains forward -looking statements and forward -looking information (together, “forward -

looking statements”) within the meaning of applicable securities laws. Forward -looking statements include

statements relating to the Corporation’s expectations regarding the conclusion of additional agreements in regard

to newly acquired properties, and other estimates and statements that describe Midland’s future plans, objectives

or goals, including words to the effect that Midland or management expec ts a stated condition or result to occur.

All statements, other than statements of historical facts, are forward -looking statements. Forward -looking

statements involve risks, uncertainties and other factors that could cause actual results, performance, pro spects

and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors

that could cause actual results to differ materially from these forward -looking statements include, without

limitation, changes in gen eral economic conditions and conditions in the financial markets, changes in demand

and prices for minerals, failure to obtain the requisite permits and approvals from government bodies and third

parties, regulatory and governmental policy changes (laws an d policies) and those risks set out in Midland’s

public documents, including in each management discussion and analysis, filed on SEDAR+ at

www.sedarplus.com. Although Midland believes that the assumptions and factors used in preparing the forward -

looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as

of the date of this news release, and no assurance can be given that such events will occur in the disclosed times

frames or at all. Except where required by applicable law, Midland disclaims any intention or obligation to update

or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Midland Projects: Eeyou Istchee James Bay

Shaakichiuwaanaan

(PMET)

Volcanic

Sedimentary

Intrusive

Caniapisc Au

Project

Dhilmar Canada Inc.

Éléonore Gold Mine

Stornoway Diamond Corp.

Renard Mine

Water body

Coulon Zn-Cu-Ag

(Electric Elements

Mining)

Fermont

Schefferville

Main Road

Midland

Lithium Deposit

Gold Deposit

Gold Showing

Geological

subdivision

Caniapisc Au: 2025 Results

Caniapisc Au

Project Volcanic

Sedimentary

Intrusive

Till Samples

Gold Anomalies

Water body

Boulder; 2.87 g/t Au

Boulder; 2.76 g/t Au

Boulder; 14.3 g/t Au

Boulder; 3.94 g/t Au

Boulder; 1.88 g/t Au

Midland

Gold Occurrence

(see press releases

by Midland dated

May 20, September

9, and October 28,

2025)

Boulder; 1,17 g/t Au

Boulder; 3,29 g/t Au

Boulder; 1,84 g/t Au

Caniapisc Au: Planned IP

Water body

Boulder; 6.47 g/t Au

(Resampling of 2.87 g/t Au)

Boulder; 19.2 g/t Au

Boulder; 24.5 g/t Au

Boulder; 5.35 g/t Au

(Resampling of 14.3 g/t Au)

Boulder; 3.50 g/t Au

Boulder; 1.50 g/t Au

Outcrop; 0.56 g/t Au

Midland

Gold Occurrence

Boulder; 11.9 g/t Au

(see press releases

by Midland dated

September 9 and

October 28, 2025)

IP Survey

Samples: 2025

C567958 – 14.3 g/t Au

C567775 – 3.94 g/t Au and 2.3% Zn

C567794 – 3.30 g/t Au

(see press release by

Midland dated

September 9, 2025)

Samples: 2025

C563928 – 1.97 g/t Au

C563926 – 19.2 g/t Au

C563907 – 6.47 g/t Au

C563931 – 11.9 g/t Au

(see press release by

Midland dated

October 28, 2025)

C563773 – 5.35 g/t Au

C563768 – 24.5 g/t Au

Samples: 2025

C563985 – 3.50 g/t Au

C563766 – 1.50 g/t Au

(see press release by

Midland dated

October 28, 2025)

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