MD.V · 2022-10-04 12:00:00

Midland and Soquem Discover IN Nunavik Several New Mineralized Horizons Grading up to 25.6 % Cu, 4.9 G/T Au and 162 G/T AG

Drill Results

MIDLAND AND SOQUEM DISCOVER IN NUNAVIK SEVERAL NEW MINERALIZED

HORIZONS GRADING UP TO 25.6 % CU, 4.9 G/T AU AND 162 G/T AG

Montreal, October 4, 2022. Midland Exploration Inc. (“Midland”) (TSX-V: MD), in partnership with

SOQUEM Inc. (“SOQUEM”), is plea sed to announce the discovery of several new metric to

plurimetric mineralized horizons with high -grade copper and gold. This discovery is a result of the

Strategic Alliance between Midland and SOQUEM (the “Alliance”) in the Labrador Trough in

Nunavik, Quebec.

During a prospecting campaig n carried out in the summer of 2022, the Midland-SOQUEM team

discovered, on surface, several new mineralized horiz ons with high -grade copper and gold that

were observed over a n area of at least 160 metres by 170 metres. Given the vegetative cover, the

mineralization remains open in all directions and the dimensions of t his new mineralized system have

yet to be determined.

Highlights

• Discovery of a high -grade Cu -Au mineralized sy stem, interpreted over an area of at least

160 metres by 170 metres, open in all directions

• Grab samples grading up to 25.6 % Cu, 4.9 g/t Au, 162 g/t Ag (29.97 % CuEq*) ;

• Channel #1: 1.49% Cu, 0.54 g/t Au and 11.4 g/t Ag (1.93% CuEq*) over 4.0 metres ;

• Channel #2: 0.90% Cu, 0.45 g/t Au and 6.5 g/t Ag (1.25% CuEq*) over 3.0 metres.

• New land position following the acquisition of 187 claims (90 sq. km)

The mineralized system was discovered d uring prospecting wo rk conducted in the area south of

Nachicapau Lake. This work followed up on the discovery made b y Midland in 2018 of a calcite vein

with bornite and malachite mineralization that graded 3.16% Cu, 5.27 g/t Au and 40.7 g/t Ag. The new

discovery is located 100 metres from this showing and the surrounding are a has seen very litt le

exploration.

Geologically, the mineralized system is hosted in mafic pyroclastic rocks and chlorite -actinolite

schists of the Murdoch Formation. It is defined by the presence of disseminated malachite and bornite

mineralization in horizons ranging from cm -scale to several metre s wide and as cm-scale pods in

calcite veins. Gold mineralization is also associated with these veins. At least eight decimetric to pluri-

metric mineralized horizons have been identified to date.

The next phase of work on this new discovery will focus on improving our geologi cal understanding

of this mineralized system and the depositional setting of these mineral occurrences, in order to define

the be st exploration strategy . More analysis results are pending for this new favorable area in the

Labrador Trough.

The following tables display the results of grab and channel samples in different mineralized horizons.

Table 1: Grab samples analysis results

Sample number Coord UTM E Coord UTM N Cu Au Ag Cu Eq*

m m % g/t g/t %

C879209 558619 6277059 25.6 4.90 162 29.97

C878993 558634 6277125 7.14 3.78 33.5 9.9

C878990 559087 6277099 2.95 0.27 30.0 3.33

C879176 558654 6276986 2.65 0.38 20.7 3.05

C879021 558717 6277123 2.56 2.01 22.1 4.06

C878450 558641 6277089 2.21 0.53 21.1 2.71

C878985 558615 6277053 1.66 4.96 13.1 5.08

C878991 558778 6277097 1.28 0.64 10.7 1.78

C878449 558642 6277084 0.84 0.06 7.8 0.93

C879210 558638 6277109 0.52 0.06 3.5 0.58

C878992 558636 6277134 0.43 1.81 4.1 1.67

C879075 558663 6277006 0.23 0.03 1.7 0.26

C879066 558704 6277123 0.22 0.3 1.8 0.43

C879028 558745 6277129 0.11 0.12 0.4 0.19

C878448 558653 6277131 0.1 0.13 0.9 0.19

C879024 558703 6276640 0.09 0.02 0.4 0.1

C878984 558699 6277149 0.08 <0.005 0 0.08

C879067 558615 6277049 0.063 0.02 0.2 0.08

C879025 558708 6276629 0.03 0.03 0.1 0.05

C879170 558657 6276984 0,00 <0.005 <0.01 0,00

C879077 558669 6276950 0.01 <0.005 <0.01 0,00

Table 2: Channel analysis results

Channel

number

Coord

UTM E

Coord

UTM N Sample

number

From To Interval Cu Au Ag Cu

Eq*

m m m m m** % g/t g/t %

Channel

1 558619 6277067

C879211 0 0.5 0.5 0.88 0.63 7.8 1.35

C879212 0.5 1 0.5 3.56 1.55 25.0 4.77

C879213 1 1.5 0.5 2.03 0.78 16.1 2.66

C879214 1.5 2 0.5 1.37 0.49 10.6 1.77

C879215 2 2.5 0.5 1.55 0.27 11.5 1.80

C879216 2.5 3 0.5 0.27 0.07 2.1 0.33

C879217 3 3.5 0.5 0.79 0.22 6.2 0.98

C879218 3.5 4 0.5 1.48 0.34 12.1 1.78

C879219 4 4.5 0.5 0.09 0.08 1.3 0.15

Channel

2 558650 6276985

C879221 0 0.5 0.5 0.74 0.57 5.8 1.16

C879222 0.5 1 0.5 0.82 0.60 5.8 1.26

C879223 1 1.5 0.5 0.87 0.32 6.1 1.13

C879224 1.5 2 0.5 1.17 0.56 8.8 1.61

C879225 2 2.5 0.5 1.25 0.48 8.6 1.63

C879226 2.5 3 0.5 0.51 0.13 4.0 0.63

C879227 3 3.5 0.5 0.02 0.01 0.3 0.02

Table 3: Best composites results - Channel 1 and 2

Composite From To Interval Cu Au Ag Cu Eq*

m m m** % g/t g/t %

Channel 1 0 4 4 1.49 0.54 11.4 1.93

incl. 0.5 2.5 2 2.13 0.77 15.8 2.93

Channel 2 0 3 3 0.90 0.45 6.5 1.25

incl. 1.5 2.5 1 1.21 0.52 8.7 1.62

*Metal prices used to calculate CuEq.*: Au $1,500/oz, Cu $3.25/lb, Ag $15/oz. Recoveries of 100% of all metals

are assumed.

Cautionary statements

Grab samples are selective b y nature and reported values are not necessarily indicative of mineralized

zones.

The true thickness of the channels cannot be determined with the information currently available.

Quality control

Rock samples from the project are analyzed by standard fire -assay on 3 0-gram fractions with a tomic

absorption finish (Au-AA23) or gravi metric finish (Au-GRA21) at ALS L aboratories in Val -d’Or,

Quebec, or Sudbury, Ontario. All samples are also analyzed for multi -elements using the four -acid

ICP-MS method. Exploration programs are designed, and resu lts are interpreted by Qualified Persons

employing a Qua lity Assurance/Qual ity Control program consistent w ith industry best practices,

including the use of standards and blanks for every 20 samples.

About the Strategic Alliance with SOQUEM

The Strategic Alliance enables Midland and SOQUEM to combine their efforts and expertise to jointly

explore the excellent potential for gold and strategic minerals of the vast and underexplored Labrador

Trough. The area of interest defined under th e Alliance is located i n Nunavik. Geologically, it covers

the Labrador Trough, the Rachel-Laporte Zone and the Kuujjuaq Domain. The area of interest extends

from Schefferville in the south up to approximately 100 km northwest of Kangirsuk. This new

agreement calls for investment s in exploration reaching up to $5 million over a period of four (4)

years, with a firm commitment of $2 million within the first two (2) years of the agreement. For 202 2,

an annual budget of $1 million (50% Midland and 50% SOQUEM) h as been planned to comp lete the

work program.

About SOQUEM

SOQUEM, a subsidiary of Investissemen t Québec, i s dedicated to promot ing the exploration,

discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining

strong l ocal economies. A proud partner and ambassador for the develo pment o f Quebec’s mineral

wealth, SOQUEM relies on innovation, resear ch and strategic minerals to be well -positioned for the

future.

About Midland

Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class

deposits of g old, platinum group elements and base metals. Midland is proud to count on reputable

partners such as SOQUEM inc., BHP Canada Inc ., Rio Tinto Ex ploration Canada Inc ., Probe Metals

Inc., Wallb ridge Mining Company Lt d, A gnico Ea gle Mines Limited, Osisko Development Corp .,

Nunavik Mineral E xploration Fund, and Abcourt Min es Inc. Midland prefers to work in partnership

and intends to quickly conclude additional agreements in regard to newly acquir ed properties.

Management i s curren tly reviewing other opportunit ies 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.

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 Prov ider (as th at term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for t he adequacy or accuracy of this

release.

This press rel ease may contain forwar d-looking st atements that are subject to k nown and unknown

risks and uncert ainties that could cause actual results to vary materially from targeted results. Such

risks and uncert ainties include those described in Midland’s periodic r eports including the an nual

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

Legend

Claims

Geology

Rachel-Laporte

Labrador Trough

Core Zone

Midland-SOQUEM

Midland 100%

Other cies

AOI Midland-SOQUEM

AOI NMEF

AOI Midland-BHP

New discovery 2022

Historical Cu showings

Nachicapau

2022 New

Copper-Gold

discovery

Ungava bay

Labrador sea

Projection System:

Universal Transverse Mercator

NAD83 Zone 19

(Grid Longitude/Latitude)

Nachicapau

2022 New

Copper-Gold

Discovery

Midland-SOQUEM Alliance in the Labrador Trough

New Copper-Gold Discovery in Nachicapau Area

Nachicapau Lake

Area of historical high

grade Zn boulders up to

17.50 % Zn (#43390439)

Midland 2018 showing

3.16% Cu , 5.27 g/t Au

Field work

2022 New discovery

Cu showing

Au-Cu showing

Midland-SOQUEM claims

2022 Rock samples

Historical rock samples

Virginia 2012 drillholes

Malachite-chalcocite

boulder (#43390604)

4.90% Cu, 0.96 g/t Au

Projection System:

Universal Transverse Mercator NAD83

Zone 19

Legend

2022 Discovery (#C878990)

Malachite-bornite boulder

2.95% Cu , 0.27 g/t Au, 30.0 g/t Ag

2022 Discovery Cu-Au

mineralized horizons

See next page

Lac Nachicapau showing

0.73% Cu, 0.19 g/t Au

Nachicapau – Malachite & Bornite Discovery

2018 New Showing

3.16% Cu, 5.27 g/t Au,

40.7 g/t Ag

#C878990 boulder

2x2x2m, Qz-Cb-Bo-Bn-Mc

discontinuous veins

2.95% Cu, 0.27 g/t Au,

30.0 g/t Ag (3.33% CuEq*)

#C879209 :

25.60% Cu,

4.90 g/t Au,

162.0 g/t Ag

(29.97% CuEq*)

#C878993 : 7.14% Cu,

3.78 g/t Au, 33.5 g/t Ag

(9.9% CuEq*)

Channel 2

0.90% Cu , 0.45 g/t Au,

7.01 g/t Ag over 3.0

metres (1.25% CuEq*)

Channel 1

1.49% Cu, 0.54 g/t

Au, 11.41 g/t Ag

over 4.0 metres

(1.93% CuEq*)

#C878991 : 1.28% Cu,

0.64 g/t Au, 10.7 g/t

Ag (1.78% CuEq*)

#C878450 : 2.21% Cu,

0.53 g/t Au, 21.1 g/t

Ag (2.71% CuEq*)

Geology

Murdoch Formation

Mafic pyroclastic rock,

Magnetic Basalt, Chloritic

Schist

Magnetite bearing

Dolomite interbedded with

chert

#C879021 : 2.56% Cu,

2.01 g/t Au, 22.1 g/t

Ag (4.06% CuEq*)

Nachicapau : 2022 Rock Sampling Work

(b) #C879209 – carbonate and bornite, malachite vein

25.60 % Cu, 4.90 g/t Au, 162.0 g/t Ag

(c) #C878500 – 3% malachite and bornite mineralization in a mafic schist(a) Outcrop showing a large malachite mineralization

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