MD.V · 2024-06-04 12:00:00

Midland and Soquem Launch Their 2024 Exploration Campaign IN the Labrador Trough, Quebec

Exploration Programs

MIDLAND AND SOQUEM LAUNCH THEIR 2024 EXPLORATION CAMPAIGN IN THE

LABRADOR TROUGH, QUEBEC

Montreal, June 4, 2024. Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce

its summer 2024 exploration program under the Strategic Alliance (the “Alliance”) with SOQUEM Inc.

(“SOQUEM”) for exploration in the Labrador Trough in Nunavik. With a joint budget of $1 million,

this program is the continuation of work carried out since 2021 and aims to identify new mineralized

areas in this vast territory with high-discovery potential.

This program will focus on high -grades copper-gold occurrences in the Nachicapau area as well as

regional targets for various commodities . Helicopter-supported fieldwork will begin in mid-June and

will consist of geochemical rock and soil sampling along with a drone-based magnetic survey.

Highlights

• Follow-up on the Cu-Au system in the Nachicapau area, where mineral occurrences over an area of

7 km2 show grades up to 25.6% Cu, 4.9 g/t Au and 162 g/t Ag, and in channel sample up to 1.49%

Cu, 0.54 g/t Au and 11.4 g/t Ag (1.93% CuEq*) over 4.0 metres;

• Soil survey (B horizon) totalling approximately 500 samples as well as rock sampling;

• Drone-based magnetic survey totalling 770 km on the Nachicapau project;

• Rock sampling on regional targets generated as a result of compilation work, sampling, and a large-

scale lithogeochemistry study conducted in 2022 and 2023.

Nachicapau Area

Exploration work conducted in 2024 will follow up on the discovery, made in 2022 and 2023, of high-

grades copper-gold mineralized horizons and several other mineralized veins. These discoveries occur

over an area of 7 km2 in pyroclastic rocks of the Murdoch Formation. A review of collected data enables

to interpret the presence of a major multi -kilometre-scale hydrothermal system. In 2024, new surface

exploration target areas have been defined based on this new interpretation, as well as on a re-analysis

of the soil geochemistry results obtained in 2023 and the geophysical data currently available.

The new B-horizon geochemistry survey will extend over at least 7.5 km to the south, using the same

parameters as the 2023 survey, and will include real -time XRF analysis of samples . This survey will

cover an area where mafic volcanic and sedimentary rocks of the Murdoch Formation are imbricated

by a series of thrust faults associated with the Robelin Fault.

A drone-based magnetic survey totalling 770 km will be completed to cover the area hosting copper-

gold mineralized horizons, in an effort to refine the structural interpretation, as structure is a major

control of the mineralization.

Regional Generative Area

Midland and SOQUEM will also investigate unexplored regional areas that show potential for the

discovery of economic deposits within the area of interest defined under the Alliance . Since 2022,

sustained efforts to compile historical work and advanced processing of lithogeochemistry results have

led to the definition of promising targets. The central part of the Labrador Trough in particular is

targeted for its potential for magmatic Ni-Cu-PGE deposits.

Other prospective areas will also be targeted for a rock sampling campaign to follow up on 2023 results,

focusing on orogenic mineralization and on the best VMS targets ( Cu-Zn-Co-Ag-Au/Zn-Pb-Cu-Ag-

Au) generated as a result of work conducted from 2021.

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 employing 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 Allian ce 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 continues and exploration work resumes 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, 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 oth er

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.

Legend

Claims

Geology

Rachel-Laporte

Labrador Trough

Core Zone

Midland-SOQUEM

Midland 100%

Other cies

AOI Midland-SOQUEM

AOI Midland-BHP

Showing 2022

Historical Cu showings

Nachicapau

2022 Copper-

Gold showing

Ungava bay Labrador sea

Projection System:

Universal Transverse Mercator NAD83 Zone 19

(Grid Longitude/Latitude)

Area of 2022

Copper-Gold

showing and 2023

mineralized veins

Midland-SOQUEM Alliance in the Labrador Trough

Exploration restrictions

Exploration prohibited

Specific agreement for

conservation

(exploration allowed)

Waskaikinis

(Fort Mackenzie)

Category II Land

AOI NMEF

Midland-SOQUEM claims

Rock samples 2022-2023

Boulder

Legend

Cu ppm

Historical rock samples

Field work

Projection System:

Universal Transverse Mercator NAD83 Zone 19

Mining claims and restrictions

Specific agreement for conservation

(exploration allowed)

Area of historical high grade Zn boulders

up to 17.50 % Zn (#43390439)

2023 : New

deformation zone

figure

Midland 2018 showing

3.16% Cu , 5.27 g/t Au2022 Discovery Cu-Au

mineralized horizons

13.8 % Cu, 0.03 g/t Au

Mineralized bornite, digenite

vein

1.71 % Cu, 0.05 g/t Au

Mineralized bornite,

digenite veins

0.34% Cu, 0.01 g/t Au

Malachite in chlorite schist

0.28% Cu, 0.35 g/t Au

Mineralized bornite,

chalcopyrite vein

3.33 % Cu, 3.98 g/t Au

Boulder mineralized bornite vein

2.08% Cu, 0.05 g/t Au

Boulder chalcopyrite vein

20.4 % Cu, 0.15 g/t Au

Boulder mineralized

bornite, specularite veins

Nachicapau

Lake

2022-2023 Field Work Results

2012 Drillhole Virginia

2023 Discovery

Nachicapau – Best Results

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*)

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*)

Geology

Murdoch Formation

Mafic pyroclastic rock,

Magnetic Basalt, Chloritic

Schist

Magnetite bearing

Dolomite interbedded with

chert

#C879186 : 10.05% Cu,

0.19 g/t Au, 62.90 g/t Ag

(10.60% Éq.Cu*)

#C879107 :

3.24% Cu, 1.97 g/t Au,

23.60 g/t Ag (4.72% Éq.Cu*)

#C878897 : 1.26% Cu,

5.80 g/t Au, 10.90 g/t Ag

(5.22% Éq.Cu*)

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