MD.V · 2024-01-22 12:00:00

Midland and Probe Intersect up to 1.33 % Copper Eq. over 9.5 Metres and Expand the Cu-Au-AG-Mo Mineralized System ON LA Peltrie

Drill Results

MIDLAND AND PROBE INTERSECT UP TO 1.33 % COPPER EQ. OVER 9.5 METRES

AND EXPAND THE CU-AU-AG-MO MINERALIZED SYSTEM ON LA PELTRIE

Montreal, January 22, 2024. Midland Exploration I nc. (“Midland”) (TSX -V: MD) is pleased to

announce the results of the drilling campaign completed in the summer of 2023 in the vicinity of the

large 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 approximately 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:

• Expansion of the mineralized zone intersected in discovery hole LAP-22-12 with a total interval

of 0.20% CuEq* over 513.5 metres;

• Higher-grade intervals within the mineralized envelope graded up to 1.33% Cu Eq* 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.

This drilling program was completed in September 2023 and consisted of eight (8) drill holes totalling

2,700 metres, including five (5) drill holes totalling 1,713.0 metres in the immediate vicinity of the Cu-

Au-Mo-Ag discovery that graded 0.2% CuEq* over 345.5 metres (see press release by Midland dated

December 6, 2022).

During this program, drill hole LAP-22-12EXT, totalling 168.0 metres, extended the mineralized zone

in the discovery hole by returning a total interval grading 0.20% CuEq* over 513.5 metres (core

length).

Drill hole LAP-23-18, drilled to the north approximately 150 metres east of drill hole LAP-22-12,

intersected a wide Cu-Au-Mo-Ag mineralized interval grading 0.15% CuEq* over 363.0 m etres,

including a high-grade zone with grades of 1.33% CuEq*over 9.5 metres.

Drill hole LAP-23-20, drilled to the south approximately 50 metres east of drill hole LAP-23-18, yielded

a wide interval grading 0.12% CuEq* over 400.2 m etres, including an interval grading 0.56%

CuEq*over 13.2 metres.

Hole LAP-23-21, drilled to the south approximately 250 meters northeast of hole LAP -23-18, returned

an interval grading 0.19% CuEq* over 22 meters, and another grading 0.15 % CuEq* over 66 meters.

A preliminary interpretation of results received to date indicates that combined Cu-Au-Mo-Ag grades

appear to increase in drill holes from east to west, thus indicating a possible enrichment trend to the west

of drill hole LAP-22-12 (EXT), in an area that remains completely open in this direction and at depth.

Midland and Probe are currently preparing an exploration program in order to resume follow-up drilling

on this new discovery.

The best results are summarized in Table 1. Assay results for drill holes LAP-23-21, 22, 23, and 24 are

pending.

Table 1 :Best drilling results 2023

Drillholes From To Width. (m) Cu % Au g/t Mo % Ag g/t CuEq*

LAP-22-12 5.5 351.0 345.5 0.13 0.02 0.02 0.95 0.21

LAP-22-12EXT 351.0 519.0 168 0.13 0.02 0.005 0.72 0.18

Total 5.5 519.0 513.5 0.13 0.02 0.01 0.87 0.2

LAP-23-18 9.0 372.0 363.0 0.11 0.02 0.005 0.64 0.15

Including 175.5 185.0 9.5 1.18 0.07 0.02 5.90 1.33

LAP-23-19 25.2 40.4 15.2 0.17 0.01 0.01 0.75 0.25

88.0 105.0 17.0 0.09 0.01 0 0.48 0.10

LAP-23-20 1.8 402.0 400.2 0.09 0.01 0.00 0.57 0.12

Including 46.8 60.0 13.2 0.5 0.05 0.00 2.80 0.56

LAP-23-21 52.5 74.5 22.0 0.16 0.02 0 0.76 0.19

328.0 394.0 66.0 0.12 0.02 0 0.67 0.15

North and Nord-East La Peltrie

Drillholes From To Width. (m) Au g/t

LAP-23-22 No significant results

LAP-23-23 72 73 1 0.11

LAP-23-24 255.5 256.8 1.3 0.10

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 reported intervals cannot be determined with the information currently available;

intervals are thus reported in core length.

Mineralization occurring at the Zone 58N and the Selbaie former 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.

Quality Control

During the last drilling program, assay samples were taken from the NQ core by sawing the drill core in

half, with one -half sent to a certified commercial laboratory and the other half retained for future

reference. A strict QA/QC program was applied to all samples; which includes insertion of mineralized

standards and blank samples for each batch of 20 samples. The gold analyses were completed by fire -

assayed with an atomic absorption finish on 50 grams of materials. The samples were also analyzed

using a geochemical group of 60 multi-elements by 4-acid digestion followed by ICP-OES (Inductively

Coupled Plasma Optical Emission spectroscopy) finishing.

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, BHP

Canada Inc., R io Tinto Exploration Canada Inc., Barrick Gold Corp., Wallbridge Mining Company

Ltd,., 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 Exploration Director Richard D St-Cyr prepared this press release and verified the

La Peltrie 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.

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.

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

Midland-Probe La Peltrie New Cu-Au-Ag-Mo Discovery

LAP-23-18

0.15 % CuEq* over 363.0 m

Including

1.33 % CuEq* over 9.5 m

Midland-Probe La Peltrie New Cu-Au-Ag-Mo Discovery

LAP-23-18

0.15 % CuEq* over 363.0 m

Including

1.33 % CuEq* over 9.5 m

180m-186m (Picture)

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