MD.V · 2022-12-06 12:00:00

Midland and Probe Metals Discover a Large Copper-GOLD-Silver- Molybdenum System ON LA Peltrie Option

Corporate Updates

MIDLAND AND PROBE METALS DISCOVER A LARGE COPPER-GOLD-SILVER-

MOLYBDENUM SYSTEM ON LA PELTRIE OPTION

Montreal, December 6, 2022. Midland Exploration Inc. (“Midland”) (TSX-V: MD), in partnership

with Probe Metals Inc. (“Probe”), is pleased to announce the discovery of a large copper-gold-silver-

molybdenum (“Cu-Au-Ag-Mo”) mineralized system on the La Peltrie Opt ion Property ( “the

Property”). The results are from a 2,388-metre drill program on the Property located 15 kilometres to

the southeast of Agnico E agle’s Zone 58N gold zone and about 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). Drilling was designed to test selected targets from the induced polarization (IP)

and property-scale biogeochemical sampling programs. The results come from seven (7) drill holes, on

new exploration targets.

Highlights:

• Discovery of broad, 345.5 metre-wide Cu-Au-Ag-Mo mineralized zone grading 0.2% CuEq,

which remains open laterally and at depth

• Higher grade intercepts within the broader interval graded up to 0.5% Cu and 3.6 g/t Ag over

12 metres and 1.0% Cu and 6.4 g/t Ag over 3.7 metres;

• Indicates potential for very large mineralized system with high prospectivity

• Regional exploration d rill holes testing the Lower Detour Zone 58N Shear splay identified

multiple gold intercepts grading 0.1 to 0.5 g/t Au over 1.0 metre intervals

• All results from Detour show high potential for extensively mineralized systems and require

detailed follow-up

A new zone , discovered by hole LAP -22-012, contained significant Cu-Au-Ag-Mo mineralization

throughout the entire 346-metre drill hole . Additionally, two regional exploration drill holes

intersected low-grade gold zones along the Lower Detou r – Gold Zone 58N Shear Splay . Based on

these interesting drill results, the Property program successfully demonstrated high prospectivity for

large gold and copper mineralized systems that will be followed up in the 2023 programs starting in

the following weeks. Assay results from selected drill holes are reported below in table 1.

Table 1: Selected drill results from holes LAP-22-011 to 17 at La Peltrie

Hole Number

From

(m)

Length

(m) Cu % Mo %

(g/t)

(g/t) CuEq* Area

LAP-22-012 5.50 351.00 345.50 0.13 0.02 0.95 0.02 0.21

New

Cu-Au-Ag-

Mo Discovery

including 84.00 102.45 18.45 0.31 0.01 2.01 0.02 0.37

sub-including 98.00 99.00 1.00 2.16 0.01 12.30 0.09 2.37

including 108.00 127.00 19.00 0.29 0.03 1.95 0.03 0.43

including 137.00 149.00 12.00 0.54 0.04 3.57 0.04 0.70

sub-including 142.30 146.00 3.70 1.02 0.01 6.39 0.06 0.97

including 155.00 160.00 5.00 0.35 0.02 1.96 0.05 0.49

including 188.00 203.50 15.50 0.27 0.04 1.60 0.05 0.47

sub-including 188.00 191.00 3.00 0.64 0.04 3.77 0.09 0.92

sub-including 199.50 203.50 4.00 0.46 0.01 2.68 0.11 0.61

including 210.50 215.70 5.20 0.42 0.04 2.33 0.03 0.63

including 286.00 289.00 3.00 0.31 0.11 2.10 0.03 0.83

LAP-22-013 354.80 355.80 1.00 - - - 0.48 -

Zone 58N

Shear Splay

LAP-22-014 364.00 365.00 1.00 - - - 0.19 -

Zone 58N

Shear Splay

All the new analytical results reported in this release and in this table, are presented in core length and uncut.

* Note: C opper Equivalents ("CuEq") have been calcula ted using metal prices of: Au $1,500.00/oz, Cu $3.25/lb,

Ag $15.00/oz, Mo $15.00/lb. The CuE q values are for exploration pu rposes only and include no assumptions for

metallurgical recovery.

This year’s drill program on the Property tested new exploration targets along the Lower Detour Zone

58N shear splay structures and a historic copper-gold structure in Lac Foubert area . High-priority

targets drill-tested this year were generated from the past 18 months of prospecting, biogeochemical

sampling, airborne magnetics and ground geophysical IP surveys.

The mineralization intersected in LAP-22-012 was present throughout the entir e drill hole, identifying

a thicker copper-gold-silver intercept grading 0.2% CuEq over 3 45.5 metre s from surface with

potential to continue laterally and at depth. The new zone contained mineralization associated with a

massive to pillowed, fine -grained b asalt unit. The basalt is carbonatized and pillow selvages have

strong chlorite and epido te alteratio n. The volcanic unit is crosscut by cm -scale quartz veins with

blocky potassi um feldspar within the veins and strong potas sic epidote alteration halos. Local

hydrothermal breccia zones have strong albite and silica altered angular clasts in a quartz/carbonate

matrix. Quartz veining and b recciated zones host up to 25% sulphides as v einlets and blebby

intergrowths of chalcopyrite and pyrrhotite.

Drill holes L AP-22-013 a nd LAP-22-014 were testing new exploration zones along the interpreted

Zone 58N shear splay extending southeast onto the Property. Low grade gold mineralization over 1 -

metre intervals was detected in sheared gabbro and volcanics crosscut by quartz-feldspar porphyry

(QFP) dykes, granodiorite and syenite intrusive units.

Midland and Probe are currently planning the next phase of exploration to follow -up on this new

discovery early in 2023.

Cautionary statements:

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 des cribed in this

press release.

Quality Control

During the last drilling program, assay samples were t aken from the NQ core by sawing the drill core

in half, with one -half sent t o a certified com mercial laboratory and the other half retain ed for future

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

mineralized sta ndards and blank samples for each batch of 20 sam ples. The gold analyses wer e

completed by fi re-assayed with an a tomic absorption finish on 50 grams of materials. Repeats were

carried out by fire -assay followed by gravimetric testing on each sample contain ing 3.0 g/ t gold or

more. Total gold analyses (Me tallic Sieve) were carried out on the sample s which presented a great

variation of their gold contents or the presence of visible gold. Samples from drill hole LAP-22-012

had additional analysis completed us ing 35 mul ti-element geochemical package by 4 -acid digestion,

followed by Inductively Couple Plasma Mass Spectrometry (ICP-MS) finish.

About Probe Metals

Probe Metals Inc. is a leading Canadian gold exploration company focused on the acquisition,

exploration and d evelopment of highly prospective gold properties. The Company is c ommitted to

discovering and developing high-quality gold proj ects, 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 gr ound wit hin 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, base metals and platinum group elements. Midland is proud to c ount on re putable

partners such as Probe Met als Inc., BHP Canada Inc., Rio Tinto Exploration Canada Inc., Wallbridge

Mining Company Ltd, Agnico Eagle Mines Limited, Osisko Development Corp.., SOQUEM Inc.,

Brunswick Exploration Inc., Nunavik Mineral Explora tion Fund, and Abcourt Mines Inc. Midland

prefers to work in partnership and intends to quick ly concl ude additional a greements in regard to

newly acquired properties. 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 Mas son. 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 E xchange nor its Regulation Services Pr ovider (as that term is defined in the

policies of th e TS X Ventur e Ex change) accepts resp onsibility for the ade quacy or accuracy of this

release.

This press release may contain for ward-looking statements that are subje ct to known and unknown

risks and unce rtainties 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.

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

0.21% CuEq / 345.5m

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)

Abitibi Geology – La Peltrie Discovery Location

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

Ignous 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 $ 1ist 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

0.21% CuEq / 345.5m

Available

property

Available property

Available

property

Available

propertyAvailable property

Available

property

Lower Detour Fault

Selbaie Mine

56.9 Mt à 0.87% Cu, 1.85% Zn,

39 g/t Ag, 0.55 g/t Au

Detour Trend - La PeltrieNew Discovery Location

0.21% CuEq / 345.5 m

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

Cpy in pillow rims

Cpy+Mo in quartz veins

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

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