Midland Announces One-Year Extension and Additional Budget of $1.4 Million FOR the Generative Phase of the Strategic Alliance with BHP FOR Nickel Exploration IN Nunavik, Quebec

MIDLAND ANNOUNCES ONE-YEAR EXTENSION AND ADDITIONAL BUDGET OF

$1.4 MILLION FOR THE GENERATIVE PHASE OF THE STRATEGIC ALLIANCE WITH

BHP FOR NICKEL EXPLORATION IN NUNAVIK, QUEBEC

Montreal, July 21, 2022. Midland Exploration Inc. ( “Midland”) (TSX -V: MD) is pleased to

announce a one-year extension of the Generati ve Phase (Phase I), as well as additional funding of up

to $1,400,000 under the Strategic Alliance (the “Alliance”) executed in August 2020 between

Midland, its wholly owned subsidiary, Midland Bas e Metals Inc., and Rio Algom Limited, a wholly

owned subsidiary of BHP Group plc (“BHP”).

This agreement provided for the initial funding, by BHP, of a phase of generative exploration work to

be e ventually followed by the joint development of nickel explo ration pro jects acro ss Nunavik,

Quebec (for more details on this agreement, see press release by Midland dated August 24, 2020).

Extension and $1.4 million additional funding for the Generative Phase (Phase I) until August 2023

Under the initial agreement executed in August 2020, during the Generati ve Phase ( Phase I), B HP

agreed to fund 100% of an annual amount of up to $1,400 ,000 for a minimum of two years unt il

August 21, 2022. Th is one-year extension of the Generati ve Phase (Phase I) comes with an a dditional

annual funding of up to $1,400,000 and extends until August 21, 2023. Midland will continue to act as

the project operator, and the main objective of this phase is to generate, i dentify and secure, within the

area of interest (“AOI”), exploration p rojects to be advanced to a drill-ready stage through further

exploration work. BHP may, at its discretion, propose additional exploration work of up to $700,000

before advancing a project to the second phase.

Following the first phase, one or more specific exploration targets may be advanced to a second phase,

to be further developed as a separate designated project (a “Designated Project”).

The main objective of the Alliance is to identify, test and develop high -quality exploration targets that

may lead to the discovery of new major nickel deposits with in the AOI . BHP and Midland are

combining the ir efforts by forming a technical steering committee and pooling their large historical

databases combining geological, geophysical and geochemical data.

Exploration work in progress

Since mid-June 2022, a major exploration program is underway within the AOI, consisting of regional

magnetotelluric ( “MT”) surveys as w ell as prospecting, mapping, geochemical sampling and

geochronological sampling . This work is expect ed to be co mpleted by mid -August and will be

followed, at the end of August, by a second phase of fieldwork to evaluate features of interest

identified during the MT survey.

About Midland

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

deposits of gold, plat inum group elements and base metals. Midland is proud to count on reputable

partners such as BHP, Rio Tinto Exploration Canada Inc., Probe Metals Inc., Wallbridge Mi ning

Company Ltd., Agnico Eagle Mine s Limited, SOQUEM INC., Osisko Develop ment Corp., Nunav ik

Mineral Exploration Fund and Abcourt Mines Inc. Midland prefers to work in partnership and intends

to quickly conclude additional a greements in regard t o newly acquired properties. Management is

currently reviewing other opportunities a nd projects to bu ild up Midland portfolio and generate

shareholder value.

This press release was reviewed and approved by Mario Masson. P.Geo., VP Expl oration 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 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.

Forward-looking Information

This news rele ase contains forward -looking statements and fo rward-looking information (together, “forward -

looking statements”) within the meaning of applicable securities laws. Forward-looking statements include the

funding under the Generative Phase, t he advancement of a project to the Testing Phase, the expenditu re amount

under the Testing Phase, the payment of success fees to Midland, the advanceme nt of a proj ect to th e Joint

Venture Phase and other estimates and statements that describe Midland’s fut ure plans, object ives or goals,

including words to the effect t hat Midlan d or management expects a stated condition or result to occur. All

statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements

involve risks, unc ertainties and other factors that could cause a ctual resu lts, performance, prospects and

opportunities to differ materially from those expressed or implied by such forward -looking statements. Factors

that could cause actual results to diff er materially fro m th ese forward -looking statements include, wit hout

limitation, certain rights of BHP to cease funding under the Alliance, the results of exploration in the AOI, the

ability of Midland to contribute funding to maintain its interests in Designated Projects, the ability of Midland to

fund its contributio ns under a joint venture, if formed, or have any participating interest diluted, changes in

general economic conditions and conditions in the financial markets, changes in demand and prices for minerals,

failure to obtain the requisite permits and approval s from gov ernment bodies and third parties, regulatory and

governmental policy changes ( laws and pol icies) an d those risks set out in Midland’s public doc uments,

including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Althou gh Midland

believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue

reliance should not be placed on these statements, which only apply as of the date of this news release, and no

assurance can be given that such events will occur in the disclosed times frames or at all. Except where req uired

by app licable l aw, Midland disclaims any intention or obliga tion to update or revise any forward -looking

statement, whether as a result of new information, future events or otherwise.

1

Midland BHP Nunavik Alliance Ni-Cu-Co

Strategic Alliance Ni-Cu-Co

Midland-BHP

$1.4M Additionnal for the

Generative Phase 2022-2023

Midland-NMEF JV Ni-Cu

Soissons Ni-Cu-Co

100% Midland

2022 Exploration Plan

▪ Ground Regional MT surveys (June to August)

▪ Prospecting - 6 weeks (July-August)

Papavoine