MD.V · 2024-06-25 12:00:00

Midland and Probe GOLD Resume Work ON the Copper-GOLD-Silver- Molybdenum Discovery ON the LA Peltrie Option

Exploration Programs

MIDLAND AND PROBE GOLD RESUME WORK ON THE COPPER-GOLD-SILVER-

MOLYBDENUM DISCOVERY ON THE LA PELTRIE OPTION

Montreal, June 25, 2024. Midland Exploration Inc. (“Midland”) (TSX-V: MD), in partnership with

Probe Gold Inc. (“Probe”), is pleased to announce that exploration work will resume on the copper-

gold-silver-molybdenum (“Cu -Au-Ag-Mo”) discovery made in 2022 on the La Peltrie Option (the

“Property”). This significant mineralized system is located 15 kilometres southeast of Agnico Eagle’s

Zone 58N gold deposit and 25 kilometres west of the former Selbaie mine, which produced 56.9 Mt

grading 0.87% Cu, 1.85% Zn, 39 g/t Ag, and 0.55 g/t Au (historical production).

The Property is currently subject to an option agreement and is explored in partnership with Probe

Gold Inc. (“Probe”) since July 2020 (see press release by Midland dated July 9, 2020).

Highlights:

• Discovery of a Cu-Au-Ag-Mo mineralized zone with drill intervals reaching 0.2% CuEq* over

a total length of 513.5 metres (drill hole LAP-22-12);

• Higher-grade intervals within the mineralized envelope graded up to 1.33% CuEq* over

9.5 metres and 0.56% CuEq* over 13.2 metres;

• Indicates potential for a highly prospective and extensive mineralized system that remains

open at depth with a possible trend interpreted to the west of discovery hole LAP-22-12.

The 4-person crew will mobilize to begin an MMI soil sampling program on La Peltrie, in the

immediate vicinity of the Cu-Au-Ag-Mo discovery that graded 0.20% CuEq* over 513.5 metres (see

press release by Midland dated January 22, 2024).

The program will comprise 1,000 samples collected at a spacing of 50 m and 100 m along sampling

lines spaced 200 m to 400 m apart (Figure 4). The soil sampling grid will cover the main Cu discovery

zone and will extend northward, to cover the contact with the Carheil intrusive. The soil sampling grid

is designed to achieve detailed geochemical coverage to identify the trend of the Cu-Au-Ag-Mo

mineralization. Proper identification of the zone will help prioritize IP anomalies on the grid and

northward, potentially leading to higher-grade Cu mineralization.

In addition, a service contract was set up with SRK Consulting to perform a structural analysis of the

high-resolution aeromagnetic survey conducted in 2020. The objective is to improve the structural and

geological understanding of the Cu-Au-Ag-Mo mineralized zone, looking at the geometry of the

structural fabric, the generations and distribution of fault/shear zones , and the generations of folds.

The structural analysis will focus on the Cu-Au-Ag-Mo discovery and its immediate surroundings

(Figure 5).

Last March, an IP survey totalling 12 lines kilometres was completed on the non-contiguous claims of

the La Peltrie Option to the northeast (Figure 6). The IP survey identified 7 chargeability anomalies,

5 of which are associated with moderately to strongly resistive bodies. Midland and Probe are

currently considering the possibility of extending the survey to the north and east, to follow the

strongest chargeability and resistivity anomalies.

Cautionary statements:

*Copper equivalent (“CuEq”) values were calculated using the following metal prices: Au

$1,500.00/oz, Cu $3.25/lb, Ag $15.00/oz, Mo $15.00/lb. CuEq values are used for exploration

purposes only and do not include estimations of metallurgical recovery.

The true thickness of drill ing intervals reported in this press release cannot be determined with the

information currently available; intervals are thus reported in core length.

Mineralization occurring at the Zone 58N deposit and at the former Selbaie mine is not necessarily

indicative of mineralization that may be found on the La Peltrie project held by Midland/Probe

described in this press release.

About Probe

Probe is a 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 approximately 10% of the Company.

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 Probe

Gold Inc., Barrick Gold Corporation, BHP Canada Inc., Rio Tinto Exploration Canada Inc.,

Wallbridge Mining Company Ltd, Agnico Eagle Mines Limited, SOQUEM Inc., Brunswick

Exploration Inc., Electric Element Mining Corp., 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 Company portfolio and generate shareholder value.

This press release was prepared by Richard D St -Cyr, Exploration Director for Midland, certified

geologist and Qualified Person as defined by NI 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.

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.

Abitibi Geology – La Peltrie Discovery Location

DETOUR LAKE

NELLIGAN

ZONE 58N

MARTINIERE

BUG LAKE

FENELON / TABASCO

CASA BERARDI DOUAY VEZZA

GEANT DORMANT

BELL OSBOURNE

LAC SHORTT

MOROY

LAC ROSE

WINDFALL

BARRY

Kenorland / Newmont Option

PERRON

WESTWOOD

LARONDE

CROINOR

CANADIAN MALARTIC

KIENA GOLDEX

LAMAQUE

HOLT / MCDERMOTT

Volcanics

Ignous rocks

Sediments

Midland Projects

Gold Mines, Projects

Sunday Lake Fault

Lower Detour Fault

Cadillac Fault

FAYOLLE

BEATTIE

Patris

Guyberry

Heva

Laflamme

Abcourt JV

Coigny

Turgeon

Mistaouac

La Peltrie

Probe Opt

Jouvex Noyelles

Lac Esther

Nomans

Lewis

Fleuribleu

Jeremie

Adam

Samson

ELDER

WASAMAC

GRANADA

HORNE 5

Chicobi Fault

M-Cadillac

Agnico Eagle JV

Gaudet-Fenelon

Probe JV

New Cu-Au-Ag-Mo

Discovery

0.20% CuEq / 513.5m

New discoveries 21-22

Casault

Wallbridge Opt

New Discovery

6.85 g/t Au / 2 m (ddh)

New Discovery

up to 10.2 g/t Au (grab)

New high-grade discovery

up to 28.7 g/t Au (Float)

up to 18.9 g/t Au (grab)

New Discovery

up to 99.1 g/t Au / 0.4m (ddh)

DETOUR LAKE

Reserves 15 Moz Au

ZONE 58N

La Peltrie

Probe Opt

MARTINIERE

BUG LAKE

WALLBRIDGE

FENELON GOLD

Ind Res. 2.13 Moz Au

Inf. Res. 1.47 Moz Au

Sunday Lake Fault

Lower Detour Fault

Jeremie

Fleuribleu

Jouvex

Adam

Valmond

Vortex

DOUAY

Mistaouac

CASA BERARDI

Golden Delilah

Volcanics

Igneous rocks

Sediments

Midland Projects

Mines Au, Projects

Gaudet-Fenelon

Probe JV

Casault

Wallbridge Opt

Wallbridge Casault Option

▪ $ 5 M / 4 years

▪ $750,000 1st year

▪ Cash Payments $600,000

▪ Expenditures Sept.30 : $1.9 M

Probe La Peltrie Option

▪ $ 3.5 M / 4 years

▪ $500,000 1st year

▪ Cash Payments $400,000

▪ Expenditures at Sept.30 : $ 1.9 M

Midland/Probe JV Gaudet-Fenelon

▪ $1 M 1st year (50%-50%)

▪ Expenditures at Dec.31 : $ 1.7 M

Sunday Lake Fault

Midland New Discovery

up to 99.1 g/t Au / 0.4m

Samson

Midland-Wallbridge

New Discovery

up to 6.85 g/t Au / 2.0 m

Midland-Probe

New Discovery Cu-Au-Ag-Mo

0.20% CuEq / 513.5 m

Property

available

Property available

Property

available

Property

availableProperty available

Property

available

Lower Detour Fault

Selbaie Mine

56.9 Mt à 0.87% Cu, 1.85% Zn,

39 g/t Ag, 0.55 g/t Au

DetourTrend – La PeltrieNew Discovery Location

2023 Follow-up Drilling on Cu-Au-Ag-Mo Discovery

LAP-23-20

0.12 % CuEq* over 400.2 m

Including

0.56 % CuEq* over 13.2 m

LAP-23-18

0.15 % CuEq* over 363.0 m

Including

1.33 % CuEq* over 9.5 m

OPEN

LAP-22-12 & 12EXT (Total)

0.20 % CuEq* over 513.5 m

LAP-22-12 (Discovery Hole)

0.13 % Cu (0.21 % CuEq*) over 345.5 m

Including:

0.3 % Cu over 18.45 m

0.3 % Cu over 19m

0.5 % Cu over 12m

0.35 % Cu over 5m

0.27 % Cu over 15.5m

0.42 % Cu over 5.2m

0.31 % Cu over 3m

LAP-23-21

0.15 % CuEq* over 66.0 m

and

0.19 % CuEq* sur 22 m

Phase I: MMI Soil Sampling Program

Structural Analysis Area

La Peltrie NE – 2023 Planned IP Grid

Brouillan Pluton

GRID 1 – 12 lines km (Phase 1)

Potential Low Strain Zone and Geologic Contact

• Sandwiched between high strain deformation zone

and competent pluton

• Ideal location for mineralization

• No historic drilling

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