Midland Amends Its Lithium Option Agreement with RIO Tinto with the Addition of the Wookie Project

MIDLAND AMENDS ITS LITHIUM OPTION AGREEMENT WITH RIO TINTO WITH

THE ADDITION OF THE WOOKIE PROJECT

Montreal, April 23, 2024. Midland Exploration Inc. ( “Midland”) ( TSX-V: MD), is pleased to

announce the execution of an amended option agreement on April 22, 2024 (the “Option Agreement”)

with Rio Tinto Exploration Canada Inc. (“RTEC”) and the addition of the Wookie project to the option

agreement signed with RTEC in June 2023 (see press release by Midland dated June 14, 2023 ). The

Wookie project is located in Eeyou Istchee James Bay area. The amended option agreement now consists

of eleven (11) projects totalling 2,208 claims covering a surface of about 1,139 square kilometres. These

projects include Galinée, Corvette, Mythril East, Chisaayuu, Moria, Shire, Komo, Warp, Sulu, Picard

and Wookie (the “Properties”).

Highlights:

• Addition of the Wookie project to the option agreement with RTEC;

• Additional $1,5M of expenditures for the initial 50% and $4,0M for 70% interest, with

additional $100,000 cash payment upon execution and another $250,000 over a 4-year period.

Under the amended Option Agreement, RTEC may acquire an initial 50% interest (the “First Option”)

in the Properties over a period of five (5) years, subject to the following conditions:

• Additional cash payment of $100,000 within 45 days of the amendment execution and additional

cash payment of $250,000 over a 4-year period.

• Additional exploration expenditures of $1,500,000 for a new total of $16,000,000, including a

firm commitment to spend not less than $2,000,000 in the first 18 months following the lifting

of the wildfire restrictions in Quebec last August 2023.

After acquiring an initial 50% interest, RTEC will have the option to increase its interest in the Properties

to 70% (the “Second Option”) over a period of five (5) years following the exercise of the First Option,

subject to the following conditions:

• Additional exploration expenditures of $4,000,000 for a new total of $54,000,000.

The Properties are wholly-owned by Midland and all located within he Eeyou Istchee James Bay region,

Quebec. RTEC will act as project operator under the Option Agreement during the First Option period

and the Second Option period.

The signing of the amended option agreement follows a new evaluation of the lithium potential of the

Wookie project and its favorable geological context. The Wookie project is located within the La

Grande geological subprovince of the lithium-rich Eeyou Istchee James Bay region, which hosts most

of the lithium deposits, including deposits such as Corvette (Patriot Battery Metals Inc.), James Bay

Lithium (Arcadium Lithium), Whabouchi (Nemaska Lithium), and Adina (Winsome Resources),

among others.

The Wookie project consists of 188 claims and is located about 40 kilometres north -northwest of the

James Bay Lithium deposit. The Wookie p roject is underlain by a lower Amphibolite facies

metamorphosed bedrock , recognized to be the most favorable metamorphic facies for lithium

pegmatites worldwide. Furthermore, most of the lithium deposits in the Eeyou Istchee James Bay area

are found in pegmatites emplaced within mafic volcanic or intrusive rocks units. The Wookie project

covers more than twenty (20) square kilometers of mafic volcanic rocks that have not been extensively

explored for lithium. Finally, several historical Quebec government rock samples of pegmatites

collected close to the project have returned anomalous tantalum, cesium and rubidium values. While

these samples were not analyzed for lithium, this element suite is strongly suggestive of favorable LCT

(lithium-cesium-tantalum) pegmatites. The favorable environment is strengthened by the discovery of

a spodumene pegmatite that returned up to 3.9% Li 2O (selected grab sample) by Quebec Precious

Metals Corporation near the Wookie project ( see press release by Quebec Precious Metals

Corporation dated January 18, 2024).

An initial summer exploration program is currently being planned and will include prospecting and

geological mapping combined with a LiDAR survey.

An initial drill program targeting some new lithium showings is also currently in progress on the

Galinée project.

All amounts are in Canadian Dollars, unless otherwise advised.

Cautionary statements

Grab samples are selective by nature and may not be representative of mineralized zones.

Lithium mineralization occurring at deposits mentioned in this press release is not necessarily indicative

of mineralization that may be intersected on projects held by Midland and mentioned 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 RTEC, BHP

Canada Inc., Barrick Gold Corp., Wallbridge Mining Co mpany Ltd, Probe Gold Inc., Agnico Eagle

Mines Limited, Electric Element Mining Corp., SOQUEM Inc., Brunswick Exploration Inc., Nunavik

Mineral Exploration Fund, Cosmos Exploration Limited 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 Midland’s

portfolio and generate shareholder value.

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

and verified the Galinée 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: 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 Midlan d’s periodic reports including the annual report or in

the filings made by Midland from time to time with securities regulatory authorities.

1

Midland – Rio Tinto Option for Lithium

1

James Bay Li

Deposit (Arcadium)

Corvette Li

pegmatites

(Patriot Battery

Metals)

Rose Li

Deposit

Sirmac Li

Deposit

Moblan Li

Deposit

Adina Li

(Winsome)

Mythril East, Chisaayuu

& Corvette

Whabouchi

Li Deposit

(Nemaska) Main Road

Midland

Lithium Occurrences

Midland/Rio Tinto

Option

Volcanic

Sedimentary

Intrusive

Komo

Galinée

Iceberg Li

• Drilling in progress

Moria

Sulu

Picard

Shire

Sulu

Warp

Newmont

Éléonore Gold Mine

Stornoway Diamond Corp.

Renard Mine

Elrond

Arwen Li Showing

(Brunswick Option)

Wookie

2

Wookie Project

2

Volcanic

Sedimentary

IntrusiveLithium Occurrences

Midland/Rio Tinto

Option

Midland

James Bay Li

Deposit

(Arcadium)

Wookie

Project

Éléonore Centre

Midland Project

Komo East

Midland Project

Quebec Precious Metals Corp.

Ninaaskumuwin Li Showing

Up-to 3.9% Li2O

(selected grab sample)

Komo

Project