Midland Announces Closing of $2.6M Private Placement

MIDLAND ANNOUNCES CLOSING OF $2.6M PRIVATE PLACEMENT

Montreal, December 3 , 20 24. Midland Exploration Inc. ( “Midland”) ( TSX-V: MD ) is pleased to

announce that it has completed the closing of a non-brokered private placement by issuing a total of

6,123,000 flow-through common shares at $ 0.40 per share and 625,000 common shares at $0. 32 per

share, for total gross proceeds of $2, 649,200 (the “ Private Placement ”). The securities issued in

connection with the Private Placement are subject to a four-month-and-one-day statutory hold period

expiring on April 4, 2025.

Midland will use the Private Placement proceeds to fund exploration works on its properties located in

Quebec and for general corporate purposes.

Insiders have participated in the Private Placement and were issued 540,000 flow-through common

shares, for total gross proceeds of $216,000. Such participation in the Private Placement is a “related

party transaction” as defined in Regulation 61 -101 respecting Protection of Minority Security Holders

in Special Transactions (“Regulation 61-101”). Such participation is exempt from the formal valuation

and minority shareholder approval requirements of Regulation 61 -101 as neither the fair market value

of the securities issued to insiders nor the consideration for such securities by insiders excee d 25% of

Midland’s market capitalization.

As a result of the closing of the P rivate Placement, there are 93,618,758 common shares of Midland

issued and outstanding.

The Private Placement was carried out pursuant to prospectus exemptions of applicable securities laws

and is subject to final acceptance by the TSX Venture Exchange . In connection with the Private

Placement, finder’s fees equal to an aggregate amount of $ 103,980 were paid to arm’s length third

parties of Midland.

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

BHP Canada Inc., Rio Tinto Exploration Canada Inc ., Barrick Gold Corp.,

Wallbridge Mining Company Ltd, Probe Gold Inc., Agnico Eagle Mines Limited,

Electric Elements Mining Corp. , SOQUEM Inc., 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 Midland’s portfolio and generate shareholder value.

Gino Roger, President and Chief Executive Officer

Tel: 450 420-5977

Fax: 450 420-5978

E-mail: [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 Midland's periodic reports including the annual report or in the filings made by Midland

from time to time with securities regulatory authorities.