MD.V · 2024-10-30 12:00:00

Midland Identifies Copper-GOLD-Molybdenum-Silver Occurrences ON the Saruman Project

Exploration Programs

MIDLAND IDENTIFIES COPPER-GOLD-MOLYBDENUM-SILVER OCCURRENCES ON

THE SARUMAN PROJECT

Montreal, October 30, 2024. Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report

that copper-gold-molybdenum-silver ( Cu-Au-Mo-Ag) occurrences were identified on its Saruman

project. Located in the Eeyou Istchee James Bay region, approximately 75 kilometres north of the

Troilus Gold Corp. copper-gold (Cu-Au) project, the Saruman project was acquired by map designation

in November 2023, is wholly owned by Midland and consists of 121 claims covering a surface area of

64 square kilometres.

Highlights:

• Strong copper anomalies particularly concentrated within an area of 5 by 3 kilometres ,

defined in a high-density lake-bottom sediment survey published in 2023 by the Ministère des

Ressources Naturelles et des Forêts du Québec (MRNF):

o 7 copper anomalies above the 99.5th percentile based on statistical processing;

o 8 additional copper anomalies above the 97th percentile based on statistical

processing;

• Identification of Cu-Au-Mo-Ag occurrences on outcrop (grab samples):

o 0.32% Cu, 0.35 g/t Au, 13.8 g/t Ag (sample L880271);

o 0.12% Cu, 0.1 g/t Au, 7.1 g/t Ag (sample L880270);

o 0.12% Cu, 0.06 g/t Au, 2.05 g/t Ag, 0.39% Mo (sample L880272);

o 0.11% Cu, 0.03 g/t Au, 1.62 g/t Ag (sample L880273);

• Project located in a relatively unexplored area, where the geological context remains poorly

defined;

• Mineralization observed on outcrop appears insufficient to explain the scope of copper

anomalies in lake-bottom sediments, which thus remain unexplained.

This designation follows the publication, by the MRNF, of strong copper anomalies in a high -density

lake sediment geochemistry survey published in November 2023. These strong copper anomalies in lake

sediments are particularly concentrated within an area of five (5) by three (3) kilometres, which contains

fifteen (15) anomalous samples (>95th percentile). A single day of reconnaissance work by Midland

teams in the summer of 2024 resulted in anomalous Cu-Au-Mo-Ag values on outcrop, reaching 0.32%

Cu, 0.35 g/t Au , 0.39% Mo , and 13.8 g/t Ag ( in grab samples ). These occurrences consist of

disseminated, veinlet and fracture -filling chalcopyrite, pyrite and molybdenite, and are observed in

tonalites. To date, only two outcropping areas exposed over a few hundred metres in diameter, have

been prospected by Midland. Following these results, an additional total of 71 claims were recently map

designated to increase Midland’s land position in the area to 121 claims.

The mineralization identified to date appears insufficient to explain the extent and scope of the lake

sediment copper anomalies described above. These observations suggest a Cu-Au-Mo-Ag system may

be present on the property. Additional prospecting and geological mapping are planned for 2025 to

collect additional information.

The Saruman project is in the Opatica geological Subprovince. Specifically, it is located in the Theodat

Complex, an assemblage of undifferentiated tonalitic gneisses and gneissic tonalites, which covers vast

expanses within the region and which remains poorly known. According to MRNF data, no previous

exploration is reported within the project area.

Copper anomalies in lake-bottom sediments

Lake sediment copper anomalies discussed in this press release are derived from statistical processing

via spatial regression (regression residuals and residual percentiles) conducted by the MRNF. The results

and methodology are described in detail in reports RP 2023-02 and RP 2024-04, available in SIGEOM.

Quality Control

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. Rock samples from the project are analyzed for gold by

standard fire assay on 30-gram fractions, with inductively coupled plasma atomic emission spectroscopy

finish (ICP-AES; PGM -ICP23) o r gravity finish (Au-GRA21) at ALS Minerals laboratories in

Vancouver, British Columbia. All samples are also analyzed for multi-elements by ICP-MS with four-

acid digestion (ME-MS61) at ALS Minerals laboratories in Vancouver, British Columbia. Samples with

a copper, zinc, molybdenum or nickel grade above 1% are reanalyzed by ICP-AES with four -acid

digestion optimized for high grades.

Cautionary statements

Grab samples are selective by nature and are not necessarily indicative of mineralized zones.

Copper-gold mineralization occurring at deposits mentioned in this press release is not necessarily

indicative of mineralization that may be found on projects held by Midland described in this press

release.

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 Rio Tinto

Exploration Canada Inc., BHP Canada Inc., Barrick Gol d Corporation, Wallbridge Mining Company

Ltd, Probe Gold Inc., Agnico Eagle Mines Limited, Electric Element s Mining Corp., SOQUEM I nc.,

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.

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

and verified data for the Saruman project as Midland’s qualified person (QP) within the meaning of

National Instrument 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.

Saruman – Location

Shaakichiuwaanaan

(Patriot Battery

Metals)

Mythril East, Chisaayuu

& Corvette

Komo

Galinée

Moria

Sulu

Picard

Shire

Sulu

Warp

Adina Li

(Winsome)

Wookie

SarumanJames Bay Li

Deposit (Arcadium) Rose Li

Deposit

Sirmac Li

Deposit

Moblan Li

Deposit

Whabouchi

Li Deposit

(Nemaska)

Newmont

Éléonore Gold Mine

Stornoway Diamond Corp.

Renard Mine

Volcanic

Sedimentary

Intrusive

Main Road

Midland

Lithium Occurrence

Midland/Rio Tinto

Option

Lion Zone Cu-Ni

(Power Nickel)

Troilus Gold

Deposit

Saruman – Lake Bottom Copper Anomalies

• Statistical spacial regression

treatment of the high density

2023 Géologie Québec surveys

(percentile of the results)

• Strong copper lake bottom

anomalies with seven (7) which

exceed the 99.5th percentile,

and eight (8) other that exeed

the 98th percentile, in a five (5)

by three (3) kilometers area

Saruman Project

Granites

Granodiorites

Tonalites

Shire Project

(Rio Tinto Option)

Warp Project

(Rio Tinto Option)

Saruman – Sampling

Strong copper anomaly zone in the lake

bottom sediments 5 by 3 kilometres

15 samples > 95th percentile, where 7 >

99.5th percentile

Groupe

d'anomalies sud

Échantillons d'affleurements 2024

(échantillons choisis)

Jusqu'à 0,32 % Cu; 0,35 g/t Au; 0,39 %

Mo; 13,8 g/t Ag; (échantillons choisis)

Sample No Cu ppm Au g/t Mo ppm Ag ppm

L880271 3280 0.351 187 13.8

L880270 1250 0.107 2.93 7.11

L880272 1210 0.062 3900 2.05

L880273 1090 0.03 42.7 1.72

L880269 474 0.048 7.27 1.5

L880275 397 0.01 3.62 0.62

2024 Outcrop Samples (selected grab)

Up-to 0.32 % Cu, 0.35 g/t Au,

0.39 % Mo, and 13.8 g/t Ag

Saruman – Outcrops Photos

L880273

0.11% Cu, 0.03 g/t Au

L880271

0.32% Cu, 0.35 g/t Au, 13 g/t Ag

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