MD.V · 2024-08-22 12:00:00

Midland and Soquem Identify ON Nachicapau New High-Grade Mineralized Occurrences and Expand the Footprint of the Copper- GOLD-Silver Hydrothermal System

Drill Results

MIDLAND AND SOQUEM IDENTIFY ON NACHICAPAU NEW HIGH-GRADE

MINERALIZED OCCURRENCES AND EXPAND THE FOOTPRINT OF THE COPPER-

GOLD-SILVER HYDROTHERMAL SYSTEM

Montreal, August 22, 2024. Midland Exploration Inc. (“Midland”) (TSX-V: MD), in partnership with

SOQUEM Inc. (“SOQUEM”), is pleased to announce the discovery of new showings on the

Nachicapau project. This exploration program was designed to follow up on discoveries made in 2022

and 2023 of high-grade copper-gold-silver mineralized horizons and veins over a surface area of 7 km2.

The objective of the 2024 campaign was to determine the extent of this major hydrothermal system

exhibiting a strong structural control. These new results are reported under the Strategic Alliance

between Midland and SOQUEM (the “Alliance”) in the Labrador Trough in Nunavik, Quebec.

Highlights:

• Discovery of 11 new Cu-Au-Ag occurrences associated with digenite, bornite, and malachite

veins

• 38 samples, including 30 collected on outcrops, yield grades >0.1% Cu , and 15 samples

graded >1% Cu, reaching up to 39.90% Cu

• New mineralized veins were identified 10 km southeast of the main zone, grading up to 5.22%

Cu, 13.8 g/t Ag and 0.65 g/t Au. Very little exploration work has been conducted between the

two areas.

• Gold mineralization is characterized by anomalous values (>0.10 g/t Au) in 10 samples from

mineralized veins, reaching up to 1.51 g/t Au.

• 768.2-km drone-supported magnetic survey completed

A geochemical sampling campaign was conducted in the early summer of 2024, during which 231 rock

samples were collected on the Nachicapau property. This work led to the discovery, on outcrop, of

numerous copper-bearing veins mineralized with digenite, bornite, and malachite pods reaching several

centimetres in size. Best grades include 39.90% Cu, 308.00 g/t Ag and 0.04 g/t Au, and 15.40% Cu,

84.70 g/t Ag and 1.51 g/t Au. These veins are injected in rocks of the Murdoch Formation and also

contain calcite, dolomite, clinochlore and specularite. They range from a few centimetres to several

decimetres in thickness, with a lateral extent of a few metres. Their distribution in the main zone extends

up to 3.7 km to the southeast of Cu-Au-Ag horizons discovered in 2022. Additional mineralized veins

grading up to 5.22% Cu, 13.8 g/t Ag and 0.65 g/t Au were also identified in a new area located 10 km

southeast of the main zone. Very little exploration work has been conducted between the two areas. The

density and distribution of these veins over several kilometres suggest the presence of a major regional-

scale hydrothermal system.

A soil geochemistry survey was carried out in the southern part of the property, during which 493

samples (Horizon B) were collected. The area is covered by mafic volcanic and sedimentary rocks of

the Murdoch Formation are imbricated by a series of thrust faults associated with the Robelin Fault .

XRF Real-time analysis of these samples enabled us to outline several copper anomalies, some of which

were investigated during the campaign.

A drone-supported magnetic survey totalling 768.2 km was carried out to cover the main zone including

discoveries made from 2022 to 2024. This survey will help refine our structural understanding of this

area.

Best results obtained in grab samples are listed in the table below.

Sample

number

UTM_E UTM_N Cu Ag Au

m m % g/t g/t

C1456513 559735.7 6276078.6 39.90 308.00 0.04

C1456514 559811.7 6275880.2 34.10 203.00 0.13

C1456119 559703.8 6275366.9 23.90 238.00 1.40

C1456414 560124.2 6275164.5 15.40 84.70 1.51

C1456310 559701.6 6275375.2 6.73 78.00 0.09

C1456166 560026.9 6273675.5 5.98 22.00 0.08

C1456030 568178.5 6266632.5 5.22 13.80 0.65

C1456164 560425.7 6273921.6 4.94 32.20 0.20

C1456408* 559591.0 6275762.9 4.55 44.00 0.02

C1456116 559719.2 6275458.6 2.95 27.60 0.02

C1456046 560378.7 6274541.2 1.82 5.00 0.03

C1456511 559769.8 6276424.8 1.65 2.10 0.66

C1456103 558723.8 6277264.0 1.29 10.10 0.19

C1456104 558724.8 6277262.0 1.15 8.80 0.20

C1456117 559718.6 6275457.5 1.01 11.50 0.01

C1456165 560027.9 6273685.7 0.67 3.50 0.03

C1456045 560359.9 6274373.0 0.61 1.50 0.01

C1456109* 559537.7 6275725.2 0.47 5.40 0.03

C1456558 560359.4 6274841.3 0.47 1.70 0.01

C1456167 559999.9 6273674.5 0.45 1.60 0.01

C1456138 567744.9 6266370.3 0.43 1.90 0.10

C1456413 559890.4 6275197.7 0.41 5.10 0.08

C1456512 559787.0 6276406.3 0.38 0.60 0.05

C1456402 558602.0 6277374.9 0.32 1.10 0.07

C1456409* 559646.3 6275859.6 0.31 3.80 < DL

C1456515 561444.0 6275547.0 0.27 1.90 0.01

C1456410 559845.6 6275771.0 0.27 1.80 0.01

C1456411 559439.4 6275209.8 0.24 2.00 0.01

C1456003 574596.0 6261962.7 0.23 0.30 0.02

C1456406* 559459.4 6275909.3 0.20 2.60 0.01

C1456007* 561488.1 6275513.2 0.13 1.10 < DL

C1456519* 561717.0 6275650.2 0.13 0.50 0.12

C1456311 559690.6 6275389.0 0.13 0.70 < DL

C1456129* 566554.7 6267927.3 0.12 0.60 0.05

C1456014 560915.7 6275066.6 0.12 < DL 0.01

C1456563 572819.6 6263231.6 0.12 < DL 0.01

C1456162* 560545.1 6274066.2 0.11 < DL 0.03

C1456309 559716.9 6275461.7 0.10 2.70 0.01

* Grab sample collected from a boulder

These results follow in the wake of discoveries made in 2022 and 2023 and highlight the area as a prime

exploration target in the Labrador Trough. Work carried out in 2024 successfully extended the surface

footprint of the copper -gold-silver hydrothermal system, the extent of which remains unknown. The

bulk of the data collected during the campaign is being processed and will be used to define the strategy

for 2025. Numerous surface targets remain unexplored on the property, namely the 10 -km interval

separating the two areas where digenite -bornite-malachite-bearing veins were found. Surface

exploration will therefore continue in this area and southward, to determine the extent of this copper -

gold-silver system . Exploration work in 2025 will also focus on defining drilling targets to assess

potential at depth.

Quality Control

Rock and soil samples from the project are analyzed at Actlabs laboratories in Ancaster, Ontario, by

ICP-MS with four-acid digestion for metals and by standard fire assay on 30-gram fractions with atomic

absorption finish for gold. Exploration programs are designed, and results are interpreted by Qualified

Persons em ploying a Quality Assurance/Quality Control program consistent with 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 the Alliance is located in 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 agreement

calls for investments 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. In March 2023, a joint

venture agreement between Midland and SOQUEM was executed to define the terms governing

exploration and development work on the mining claims forming the Nachicapau property. In 2024, the

Alliance continued exploration work in the Labrador Trough and on the Nachicapau project with a joint

annual budget of $1 million (50% Midland and 50% SOQUEM).

About SOQUEM

SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery

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

economy in Quebec’s regions. A proud partner and ambassador for the development of Quebec’s

mineral wealth, SOQUEM relies on innovation, research 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 gold and critical metals. Midland is proud to count on reputable partners such as SOQUEM

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

Mining Company Ltd, Probe Gold Inc., Agnico Eagle Mines Limited, 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 reviewed and approved by Richard D. St -Cyr, P.Geo., Exploration Director 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 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.

Nachicapau

Copper-Gold

showings

Ungava Bay Labrador Sea

Projection System:

Universal Transverse Mercator NAD83 Zone 19

(Grid Longitude/Latitude)

Area of 2022

Copper-Gold

showing and

2023/2024

mineralized veins

Waskaikinis

(Fort Mackenzie)

New area of

2024

mineralized

veins

Figure 1bFigure 1a

Midland-SOQUEM Alliance

Nachicapau Project

Legend

Claims

Geology

Rachel-Laporte

Labrador Trough

Core Zone

Midland-SOQUEM

Midland 100%

Other cies

AOI Midland-SOQUEM

AOI Midland-BHP

Showings Nachicapau

Historical Cu showings

Exploration restrictions

Exploration prohibited

Specific agreement for

conservation

(exploration allowed)

Category II Land

AOI NMEF

Midland-SOQUEM claims

2022-2023 Rock samples

Boulder

Legend

Cu ppm

< 300

Field work

Projection System :

Universal Transverse Mercator

NAD83 Zone 19

Titres miniers et restrictions

Specific agreement for conservation

(exploration allowed)2012 Virginia Drillhole

Géologie

Ultramafic to mafic pyroclastic rock, magnetic

basalt and chloritic schist

Magnetite bearing dolomite

interbedded with chert

MONTAGNAIS GROUP

Aphyric gabbro, olivine gabbro, quartz

gabbro, locally pegmatitic

MURDOCH FORMATION

Basalte, massive and pillowed

Grey mudstone and siltite

Greywacke interbedded with conglomerate,

turbidite

Magnetite bearing dolomite

BACCUS FORMATION

DENAULT FORMATION

Area of historical high grade

Zn boulders up to 17.50 % Zn

(#43390439)

2022 showing of

Mineralized Cu-Au

Horizons (see next figure)

2023 showing

13.80 % Cu, 0.03 g/t Au

2023 showing

1.71 % Cu, 0.05 g/t Au

3.33 % Cu, 3.98 g/t Au (boulder)

Lac

Nachicapau

Midland 2018 showing

3.16 % Cu , 5.27 g/t Au

Boulder

2024 discoveries :

Main area over 2,7

km long containing

mineralized veins of

digenite, bornite and

malachite

Figure 2a

Figure 2b

Figure 2a

Figure 2b

1.65 % Cu, 2.10 g/t Ag 0.66 g/t Au

39.90 % Cu, 308 g/t Ag, 0.04 g/t Au

34.10 % Cu, 203 g/t Ag, 0.13 g/t Au

15.40 % Cu, 84.70 g/t Ag, 1.51 g/t Au

1.82 % Cu, 5.00 g/t Ag, 0.03 g/t Au

4.94 % Cu, 32.20 g/t Ag, 0.20 g/t Au

5.98 % Cu, 22.00 g/t Ag, 0.08 g/t Au

2.95 % Cu, 27.60 g/t Ag, 0.01 g/t Au

23.90 % Cu, 238 g/t Ag, 1.40 g/t Au

5.22 % Cu, 13.8 g/t Ag, 0.65 g/t Au

0.43 % Cu, 1.9 g/t Ag,

0.09 g/t Au

300 – 1,000

1,000 – 5,000

> 10,000

5,000 – 10,000

Cu ppm

2024 Rock samples

2024 Results

Nachicapau – 2024 Results

Nachicapau – Best Results

#C879186 : 10.05 % Cu,

0.19 g/t Au, 62.90 g/t Ag

(10,60 % CuEq*)

#C879107 :

3.24 % Cu, 1.97 g/t Au,

23.60 g/t Ag (4.72 % CuEq*)

#C878897 : 1.26% Cu,

5.80 g/t Au, 10.90 g/t Ag

(5.22 % CuEq*)#C879209 :

25.60 % Cu,

4.90 g/t Au,

162.0 g/t Ag

(29.97% CuEq*)

#C878990 :

2.95 % Cu, 0.27 g/t Au,

30.0 g/t Ag (3.33 % CuEq*)

Indice 2018

3.16 % Cu, 5.27 g/t Au,

40.7 g/t Ag

Channel 2

0.90 % Cu , 0.45 g/t Au,

7.01 g/t Ag sur 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*)

Geology

Murdoch Formation

Mafic pyroclastic rock,

Magnetic Basalt, Chloritic

Schist

Magnetite bearing

Dolomite interbedded with

chert

2024 discovery :

1.29 % Cu, 10.10 g/t Ag, 0.19 g/t Au

Ultramafic schist with disseminated

ankerite, malachite, bornite in the

schistosity

(2022-2023)

Cu ppm (2024)

2024 Results

LEGEND

> 10,000

Assays results

Figure 3

2024 Photos of Nachicapau Samples

39.90 % Cu, 308.00 g/t Ag, 0.04 g/t Au

Massive bornite, digenite, malachite in a

dm-scale calcite vein (#C1456513 )

23.90 % Cu, 238.00 g/t Ag, 1.40 g/t Au

Digenite, malachite, bornite, calcite vein,

cm scale (#C1456119)

#C1456119

0.41 % Cu, 5.10 g/t Ag, 0.08 g/t Au

Cm-scale cluster of malachite

crosscutting the schistosity of the

chloritic schist (#C1456413)

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