Midland Identifies New Targets ON Mythril and Resumes Geophysics and Drilling

MIDLAND IDENTIFIES NEW TARGETS ON MYTHRIL AND RESUMES GEOPHYSICS

AND DRILLING

Montreal, February 9, 2021. Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to

report that exploration work will resume on its Mythril Co -Mo-Au-Ag project, wholly owned by

Midland and located in Eeyou Istchee James Bay, Quebec. In 2018, Midlan d discovered Mythril by

prospecting and conclu ded a strategic invest ment with BHP Billiton Canada Inc during the spring of

2019 totalling $5.85 million for copper exploration in Quebec.

The Mythril zone (Cu-Mo-Au-Ag), discovered by prospecting in 2018, consists of a series of

mineralized subcropping boulder fields and Cu -Mo-Au-Ag showings occurring over a distance of

more than 3 kilometres. A diamond drilling campaign conducted in 2019 yielded grades up to 1.07%

Cu, 0.37 g/t Au, 8.87 g/t Ag (1.41 % CuEq*) over 12.55 metres in drill hole MYT-19-06 (see press

release by Midland dated May 16, 2019).

*Metal prices used to calculate CuEq: Au $1,285/oz, Cu $2.77/lb, Ag $15/oz, Mo $10.90/lb. Metal

recovery is assumed to be 100%.

The new explo ration program for 2021 will consist of geop hysical (IP) surveys in the vicinity of the

Faramir Cu-Mo showing, prospecting work, and a diamond drilling program on targets generated from

a new 3D model for the Mythril zone.

Geophysical IP survey to be completed on the Faramir Cu-Mo showing

During the winter of 2020, a pole -dipole (n =20) induced polarization survey, designed to test the

deeper bedrock , was initiated in the vicinity of the fault hosting the Farami r showing, to identify

chargeability (IP) anomalie s indicative of the more mineralized p arts of the C u-Mo system. About

50% of the survey was completed before it had to be interrupted due to the COVID-19 crisis.

Within the survey grid, the IP line located furthest to the southeast shows a deep char geability

anomaly in the fault zone, which may repre sent a more strongly mineralized part of the system. The

remainder of the IP survey, totalling approximately 20 kilometres, will be completed during the winter

of 2021, in preparation for a possible drilling program in the summer of 2021.

The Farami r showing is a new copper -molybdenum occurrence where 4 grab samples yielded an

average grade of 0.17% Cu, with a maximum grade of 0.34% Cu and locally ano malous molybdenum

values (up to 0.02% Mo). The showing consists of di sseminated chalcopyrite in highly altered granite

with strong quartz, chlorite, ankerite and epidote veining. The showing appears to be associated with a

late brittle fault trending NW-SE, which is clearly visible on regional aeromagnetic maps. A total of

22 granitoid boulders with chalcopyrite mineralization were also dis covered in the vicini ty (Boromir

boulder field). These boulders are strongly altered and exhibit intense veining (quart z, chl orite,

epidote, ankerite). Grab samples yielded an average grade of 0 .12% Cu, with a maximum grade of

0.45% Cu (sample S410734). These boulders are very similar to the Faramir showing and are scattered

over an area of approximately 1 kilometre by 500 metres. They are interpreted as being derived from

the same fault zone as the Faramir showing. These new s howings and boulders are considered as the

external zone (propylitic alteration) of a magmatic-hydrothermal system.

New targets from the 3D model and drilling campaign (2,500 m) to come in 2021

During the past year, a 3D geological model of mineralization in the mai n area of the Mythril proj ect

was built using Leapfrog, to improve our understanding of the controls of the mineralized system at

Mythril.

Modelling of the mineralized envelope was carried out to determine where additional Cu-Au-Mo-Ag

mineralization may be discovered. In addition, new drilling targets were identified by stud ying

relationships between geology, alteration and geophysics . Some of these targets consist of untested

areas where a favourable geological and geophysical setting was identified. These settings include IP

anomalies characterized by chargeability highs and/or magnetic anomalies near the southern contact

with the conglome rate unit. Other targets consist of possible extensions of higher-grade mineralized

zones.

Midland is currently finalizing the details and logistical planning of a drilling campaign totalling more

than 2,500 metres, scheduled to begin in June 2021.

About Midland

Midland targets the excellent mineral potential of Quebec to m ake the discovery of new wor ld-class

deposits of gold, platinum g roup elements and base metals. Midland is proud to count on repu table

partners such as BHP Billiton Canada Inc., Probe Metals Inc., Wallbridge Mining Co mpany Ltd,

Agnico Eagle Min es Limited, Osisko Development Corp. , SOQUEM I NC., Nunavik Mineral

Exploration Fund , and Abcourt Min es Inc. Midland prefers to work in par tnership and int ends to

quickly concl ude add itional agreeme nts in regard to newly acquired properties. Management is

currently reviewing other opportunities and pro jects to build up the Company portfol io and generate

shareholder value.

This press release was prepared by Mario Masson, VP Exploration for Midland, certified geologist and

Qualified Person as defined by NI 43 -101. For further i nformation, please consult M idland’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.

This p ress release may co ntain forwar d-looking statements that ar e subject to known and unknown risks and

uncertainties that c ould cause actual result s to va ry materi ally fr om t argeted results. Such ri sks a nd

uncertainties include those described in Midland’s pe riodic reports including the annual report or in the filing s

made by Midland from time to time with securities regulatory authorities.

Midland Mythril Discovery Location

Newmont-Goldcorp Inc.

Éléonore Gold Mine

Eastmain Ressources Inc.

Eau Claire Gold Deposit

Mythril Regional Project

Cu-Au-Mo-Ag, Au

Stornoway Diamond Corp.

Renard Mine

Mythril Project

Cu-Au-Mo-Ag

Mythril Regional Project

Cu-Au-Mo-Ag, Au

Mythril Regional Project

Cu-Au-Mo-Ag, Au

Mythril Regional Project

Cu-Au-Mo-Ag, Au

Komo Project

Au

THE NEXT MAJOR DISCOVERER IN QUEBEC 1

Mythril + Mythril Regional Claim Blocks

Granite

Paragneiss

TonaliteMythril

Main Block

Mafic volcanics

Granite,

granodiorite

Tilly south

Block

Mythril Main

Showings

Mythril 2019

Gold Floats

THE NEXT MAJOR DISCOVERER IN QUEBEC 2

Tilly South – 2019 Showings

Paragneiss

Diorite

Tonalite

Granite

Tonalite

Pasithée Cu-Au-Ag showing

2 outcrop grabs

1.49 % Cu, 1.15 g/t Au,

15.6 g/t Ag;

0.58 % Cu, 0.60 g/t Au et

14.3 g/t Ag

Tornado Au-Cu-Mo-Ag

showing

Up to: 4.7 gt Au (grabs);

Up to: 0.39 % Cu (grabs)

Float grab:

3.13 g/t Au,

0.35 % Cu

Boromir Floats

22 mineralized float grabs

Average 0.12 % Cu;

Up to: 0.45 % Cu

Faramir Cu Showing

4 outcrop grabs

Average: 0.17 % Cu

Up to 0.45 % Cu; up

to 0.02 % Mo

Eomer Au Showing

3 outcrop grabs: 2.79 g/t Au;

1.31 g/t Au, 0.13 g/t Au

Quartz veins in iron formation

Quartz-Moly veins

3 floats grabs

1.72 % Mo, 0.71 %

Mo, 0.04 % Mo

2 outcrop grabs:

0.2 % Mo, 0.07 % Mo

Strong Cu lake

sed anomalies

(public data)

THE NEXT MAJOR DISCOVERER IN QUEBEC 3

Tilly South – Regional Total Field Magnetics

Faramir Cu Showing

4 outcrop grabs

Average: 0.17 % Cu

Up to 0.45 % Cu; up

to 0.02 % Mo

Background: Total field magnetics

Late brittle

fault zone

Complete Faramir

IP Grid in March 21

THE NEXT MAJOR DISCOVERER IN QUEBEC 4

FaramirCu Showing

S410736 (outcrop)

Granite, strongly altered in epidote, K-feldspar

and injected with quartz, chlorite vein

stockwork, disseminated chalcopyrite and pyrite

0.11 % Cu

S410738 (outcrop)

Granite, altered in chlorite-epidote, injected with

quartz and ankerite veins

0.34 % Cu, 0.02 % Mo

THE NEXT MAJOR DISCOVERER IN QUEBEC 5

Boromir Cu-Bearing Floats

S410629 (float)

Strongly chloritized granite with intense

quartz-chlorite stockwork, vein and

disseminated chalcopyrite+malachite

0.26 % Cu

S410630 (float)

Granite with chlorite stockwork, vein and

disseminated chalcopyrite+malachite

0.16 % Cu

THE NEXT MAJOR DISCOVERER IN QUEBEC 6