MD.V · 2024-01-16 12:00:00

Midland Confirms High-Grade Lithium up to 3.6% LI2O ON Additional Spodumene-Bearing Pegmatites ON Galinée Project.

Drill Results

MIDLAND CONFIRMS HIGH-GRADE LITHIUM UP TO 3.6% LI2O ON ADDITIONAL

SPODUMENE-BEARING PEGMATITES ON GALINÉE PROJECT.

Montreal, January 16, 2024 . Midland Exploration Inc. (“Midland”) ( TSX-V: MD ) is pleased to

provide new assay results and upcoming work following the identification of a series of spodumene -

bearing pegmatite dykes on the Galinée project, approxim ately 8 kilometres east of the Adina lithi um

deposit held by Winsome Resources (“Winsome”) (see press release by Midland dated November 2,

2023). The Galinée project is currently wh olly owned b y Midland and is subject to an opti on

agreement signed with Rio Tinto Exploration C anada Inc. ( “RTEC”) in June 2 023 (see press release

by Midland dated June 14, 2023).

Highlights:

• Spodumene-bearing pegmatite outcrops found 900 and 500 metres southwest and south of

the Iceberg Showing with grab samples grading up to 3.6% Li2O;

• Iceberg Showing consists in spodumene-bearing pegmatite dykes identified over at least 600

metres strike length with high-grade grab samples grading up to 7.2 % Li2O;

• LiDAR survey data received;

• Drilling planning in progress.

Assay results have been rec eived for the new Iceberg Southwest and Iceberg S outh showings, found

by t esting local relief features in areas covered with vegetation and overburden and locate d

respectively 900 and 500 metres from the main Iceberg discovery. The Iceberg Southwest spodumene-

bearing outcrop returned three (3) samples grading between 3.0 % Li 2O and 3.6% Li 2O. Moreover, a

spodumene-bearing boulder located 100 metres west of this showing returned 4.1% Li2O. The Iceberg

South Sh owing consists of a pegmatite subcrop and returned an anomalous lithium value of 0.7 %

Li2O.

The Iceber g discov ery was identified on several outcrops by fie ld crews after a few days of

prospecting. A combination of ultraviol et (UV) lamp and a LIBS (Laser-Induced Breakdown

Spectroscopy) analyzer were used to confidently identify spodumene, including some crystals

reaching up to 60 centimetres in length (see press release by Midland dated September 19, 2023). The

Iceberg discovery consists of a series of spodume ne exposures outcrop, now over a 600m east-west

strike intermixed with amphibolite and granodiorite. High-grade grab samples on the Iceberg Showing

returned up t o 7.2 % Li 2O, including 6 samples grading between 5.0 % Li2O and 7.2 % Li2O, 6

samples grading between 3.0 % Li2O and 5.0 % Li2O, and 3 other samples grading between 1 % Li2O

and 3 % Li2O (see press release by Midland dated November 2, 2023).

The G alinée project is located approximately 4 kilometres east of the Adina showing held by

Winsome. This showing is located at the contact between amphibolites of the Trieste Formation to the

south and f elsic int rusives to the north. This contact is marked by a major st ructure tha t likely

controlled the emplac ement of pegmatites at the A dina showing. This new discovery, on Galinée, of

spodumene-bearing pegmatite dykes was made along the same highly favourable contact zone, which

is present on the pr operty over more than 7 kilometres and which has never been explored for lithium

in the past. Data from a recently completed high-resolution airborne magnetic and radi ometric survey

is currently being used to identify struct ures that could h ost spodumene pegm atites and provide

drilling target s. The received LiDAR data will also guide futu re work to expand the footprint o f

spodumene outcrops on Galinée . A maiden drilling campaign is currently being planned on Galiné e

for 2024.

Cautionary statements

Grab samples are selective by nature and may not be representative of mineralized zones.

Lithium m ineralization occ urring a t Winsome’s Adina deposit is not necessari ly indicative of

mineralization that may be encountered on the Galinée project held by Midland.

Quality Control

Samples were analyzed by ALS Geochemistry laboratories usin g a major element fusion, trace

element fusion and ultratrace four acid digest m ethod (ME -ICP06, ME -MS81 and ME -MS61L

methods). Samples reporting >45 00 p pm Li on the four-acid digest method were reanalyzed by a

sodium peroxide fusion method specific for hard rock lithium (Li-ICP82b).

In the sample batch, RTEC included one quartz blank and two commercial CRMS (OREAS 751 and

OREAS 753). ALS included four in-lab duplicate analyses and 31 additional CRMs.

About Midland

Midland targets the exce llent mineral potential of Quebec to make the discover y of new world -class

deposits of gold and critical metals. Midland i s proud to count on r eputable partners such as RTEC,

BHP Canada In c., Barrick Gold Corp ., Wallbridge Mining Company L td, Probe Gold In c., Agn ico

Eagle Mines Limited, Osisko Development Corp., SOQUEM Inc., Brunswick Exploration Inc.,

Nunavik Mineral Exploration Fund, Cosmos E xploration Limited and A bcourt Mines Inc. Midland

prefers to work in partnership and inte nds to quickly conc lude ad ditional a greements in regard to

newly acquired proper ties. Management is current ly rev iewing other opportunities and proj ects to

build up Midland’s portfolio and generate shareholder value.

Qualified Person and Chief Geologist Jean-François Larivière, P. Geo, prepared this press release and

verified the Galinée project data as Midland ’s qualified person (QP) within the meaning o f National

Instrument 43 -101. The QP has ve rified the data as per clause 3.2 – given they are confidently

identifying spodumene using these methods.

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 th e TSX Venture Exchange ) ac cepts responsi bility for the adequacy or accuracy of this

release.

This press release may contain forward -looking statements that are sub ject to known and unknown

risks and uncertainties that could ca use actual results to vary materially from targeted results. Such

risks and uncertain ties i nclude those described in Midland’s perio dic reports inclu ding the annual

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

Midland – Rio Tinto Option for Lithium

James Bay Li

Deposit (Allkem)

Corvette Li

pegmatites

(Patriot Battery

Metals)

Rose Li

Deposit

Sirmac Li

Deposit

Moblan Li

Deposit

New Li Discovery

Adina

(Winsome)

Mythril East, Chisaayuu

& Corvette

Whabouchi

Li Deposit

(Nemaska) Main Road

Midland

Lithium Occurrences

Midland/Rio Tinto

Option

Tonalitic Unit

Gneiss

Metavolcanic

Metasediment

Granite

Komo

Galinée

New Li Discovery

• LiDAR completed

• MAG-RAD completed

Moria

Sulu

Picard

Shire

Sulu

Warp

James Bay (North) New Lithium Discoveries

Tonalitic Unit

Gneiss

Metavolcanic

Metasediment

Granite

Lasalle project

Cosmos Option

Chisaayuu project

Rio Tinto Option

Galinée project

Iceberg Spodumene

Pegmatites Dykes

New Li Discovery

Trieste

(Loyal Lithium)

New Li Discovery

Escale

(Brunswick Option)

Mythril East

(West block)

Rio Tinto Option

Tilly South

Corvette Li pegmatites

(Patriot Battery Metals)

CV5: Inferred 109.2 MT

at 1.42% Li2O

New Li Discovery

Adina (Winsome)

Inferred 58.5 Mt at

1.12% Li2O

( see press release by Winsome

dated December 11, 2023)

Mythril project

Brunswick Option

Corvette project

Rio Tinto Option

Mythril East

(East block)

New Li Discovery

Corvette Far East

(Cosmos)

Main Road

Midland

Lithium Occurrences

Midland/Rio Tinto

Option

New Discovery

Azimut Exploration Inc.

2.48% Li2O over 72.7m

( see press release by Azimut

Exploration inc. dated January 9,

2024)

Galinée New Lithium Discovery

Tonalitic Unit

Gneiss

Metavolcanic

Metasediment

Granite

Galinée project

Iceberg Spodumene

Pegmatites Dykes

Up to 7.2% Li2O

New Li Discovery

Trieste

(Loyal Lithium)

New Li Discovery

Adina (Winsome)

Inferred 58.5 Mt at

1.12% Li2O

( see press release by Winsome

dated December 11, 2023)

Lithium Occurrences

Midland/Rio Tinto

Option

New Discovery

Iceberg Southwest

Grab sample up-to

3.6% Li2O, Boulder

with 4.1% Li2O

Iceberg South

0.7 %Li2O

Subcrop grab

sample

Azimut Exploration Inc.

2.48% Li2O over 72.7m

( see press release by Azimut

Exploration inc. dated January 9,

2024)

Iceberg Spodumene Showing

South Showing Southwest Showing

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