Midland and Probe Begin Important Drilling Program ON LA Peltrie, East of the Lower Detour Zone 58N Deposit
MIDLAND AND PROBE BEGIN IMPORTANT DRILLING PROGRAM ON LA PELTRIE,
EAST OF THE LOWER DETOUR ZONE 58N DEPOSIT
Montreal, May 17, 2022. Midland Exploration Inc. (“Midland”) (TSX-V: MD), in partnership with
Probe Metals Inc. (“Probe”), is pleased to announ ce the commencement of an important drill ing
program totalling more than 3,125 metres to test new high-priority targets on the La Peltrie project.
This project, wholly owned by Midland and under option by Probe since July 2020 (see press release
by Midland dated July 9, 2020), is located along the Lower Detour Fault, approximately 25 kilometres
southeast of Zone 58N currently held by Agnico Eagle Mines Limited.
Highlights:
• Identification of new drilling targets – Geological, geophysical and geochemical targets
• Drilling program totalling more than 3,125 metres; 9 drilling targets
• Targets located proximal to the regional Lower Detour Fault
• Drilling set to commence at the end of this month (2 helicopter-supported drill rigs)
New high-priority drilling targets proximal to the Lower Detour Fault
Following execution of the option agreement on the La Peltri e property in the summer of 2020, Probe
conducted systematic biogeochemical survey covering the entire property and also completed several
localized induced polarization g rids to cover the best gold anomalies. This work resulted in the
identification of nine (9) new high-priority drilling targets that will be tested during this maiden
drilling program totalling 3,125 metres set to begin at the end of May . More than twenty additional
targets were also identified and will be reassessed pending the results of this first phase of drilling.
The La Peltrie property is located approximately 25 kilometres southeast of the high -grade Lower
Detour Zone 58N gold deposit held by Agnico Eagle Mines Limited, which hosts indicated resources
totalling 2.87 million tonnes at a grade o f 5.8 g/t Au (534,300 oz Au) and inferred resources totalling
0.97 million tonnes at a grade of 4.35 g/t Au (136 ,100 oz Au) (Source: NI 43-101 report by Kirkland
Lake Gold effective December 31, 2020 ). It is also located proximal to the B26 deposit held b y
SOQUEM, where indicated resources are estimated at 6.97 million tonnes grading 1.32% Cu,
1.80% Zn, 0.60 g/t Au and 43.0 g/t Ag, and inferred res ources at 4.41 million tonnes grading
2.03% Cu, 0 .22% Z n, 1 .07 g/t Au and 9.0 g/t Ag (Source: NI 43-101 report by SGS pr epared for
SOQUEM effective January 31, 2018). The La Peltrie property is also located 25 kilometres northwest
of the former Selbaie mine, which historically produced 56.5 million tonnes of ore grading 1.9% Zn,
0.9% Cu, 38.0 g/t Ag and 0.6 g/t Au.
Cautionary statement:
Mineralization occurring at the Zone 58N and B26 deposit is not necessarily indicative of
mineralization that may be found on the La Peltrie project held by Midland/Probe des cribed in this
press release.
Terms of the Agreement
Probe may earn 50% interest in the La Peltrie property over a period of four (4) years in consideration
of the following:
• Cash payments totalling $400,000 (two payments totalling $105,000 were paid by the issuance
of 70,423 common shares of Probe); and
• Exploration expenditures totalling $3,500,000 (including a firm commitment of $500,000
during the first year that is completed).
• After exercising this first option to earn 50% interest, Probe may increase its interest to 65%
(the Second Option) over a period of two years in consideration of exploration expenditures or
cash payments totalling $5,000,000.
About Probe
Probe Metals Inc. is a leading Canadian gold exploration company focused on the acquisition,
exploration and development of highly prospective gold properties. The Company is committed to
discovering and developing high -quality gold projects, including its key asset the multimillion -ounce
Val-d’Or East Gold Project, Québec. The Company is well -funded and controls a strategic land
package of approximately 1,500 -square-kilometres of exploration ground within some of the most
prolific gold belts in Québec. The Company was formed as a result of the $526M sale of Probe Mines
Limited to Goldcorp. Eldorado Gold Corporation currently owns appr oximately 10.4% of the
Company.
About Midland
Midland targets the excellent mineral potential of Q uebec to make the discovery of new world -class
deposits of gold, platinum group el ements and base meta ls. Midland is proud to count on reputable
partners such as Probe, BHP Cana da Inc., Rio Tinto Explorati on C anada Inc ., Wallbridge Mining
Company Ltd , Agnico Eagle Mines Limited, Osis ko Development Corp ., S OQUEM Inc., Nunavik
Mineral Exploration Fund, and Abcourt Mines Inc. Midland prefers to work in partnership and intends
to qu ickly conclud e add itional agreements in regard to newl y acquir ed pro perties. 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: [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 ade quacy or accuracy of this
release.
This press release may contain for ward-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 uncertaintie s include those described in Midland’s p eriodic reports including the annual
report or in the filings made by Midland from time to time with securities regulatory authorities.
Midland Gold Projects
Mafic Volcanics
Felsic Volcanics
Ultramafics
Sediments
Mafic Intrusives
Felsic Intrusives
Casa Berardi Mine
Reserves 1.9 Moz Au
Douay
JouvexMistaouac
Valmond
Samson
Fleuribleu
Adam
Detour Lake Mine
Reserves P+P > 13Moz Au
Jeremie
Vezza West
Martiniere & Bug Lake
Ind. Res. 0.59 Moz Au
Vortex
B26
B14
Midland / Probe Gaudet –Fenelon JV
Golden Delilah
Casault
Wallbridge Option
Gaudet-Fenelon
Probe JV
La Peltrie 100% Midland
Probe Option
Selbaie Mine
Zone 58N Resources
Ind.: 534,300 oz Au
Inf. : 136,100 oz Au
Midland-Probe La Peltrie Option
Fenelon Gold
Ind. Res. : 2.13 Moz Au
Inf. Res. : 1.47 Moz Au
La Peltrie Option -2022 Drilling Areas
2022 Drilling Areas