Midland Options Its Tete Nord Ni-Cu Property to RIO Tinto

MIDLAND OPTIONS ITS TETE NORD NI-CU PROPERTY TO RIO TINTO

Montreal, December 2, 2021. Midland Exploration Inc. ("Midland") (TSX-V: MD) is pleased to

announce the signing of a new option agreement with Rio Tinto Exploration C anada Inc. ("RTEC")

for it s Tete Nord nic kel-copper property, currently wholly owned by Midlan d and located near the

town of La Tuque, Quebec.

Under this new agreement, RTEC may earn an initial 50% interest ( First Option) in the Tete Nord

property over a period of four years, by fulfilling the following conditions:

• Exploration expenditures totalling $4,000,000, including a minimum of $500,000 in the first

year.

• Cash payments t otalling $500,000, including $100 ,000 withi n 30 days of execution of the

agreement

After earning an initial 50% interest, RTEC may elect to increase its interest to 70% (Second Option)

over a period of four years by fulfilling the following conditions:

• Exploration expenditures totalling up to $10,000,000 and cash payments total ling $500,000,

gaining interest on the following schedule:

▪ An additional 1% interest (for a total of 51% ) by fundi ng an additional $ 250,000 of

exploration expenditures;

▪ An additional 1% interest for each additional $500,000 of exploration expenditures (for a

total of up to 69%) ;

▪ An additional 1% (for a total of 70%) by funding an additional $750,000 of exploration

expenditures.

RTEC retains right to act as operator for the First and the Second Option; or at i ts discretion elects to

have Midland act as operator on RTEC’s behalf.

About the Tete Nord Ni-Cu property

The Tete Nord property comprises 935 claims covering a surface area of about 515 square kilometres

in mafic and ultramafic rocks of the La Bostonna is Complex north of La Tuque. The la rgest claim

block is located sout h o f the former Lac Edouard mine, which historically produc ed 50,000 tonnes

grading 1.50% Ni and 0.50% Cu (Source: SIGEOM NTS sheet 31P09).

This property hosts a few mineral occurrences, including the Savane showing, located app roximately

25 kilometres south of the former La c Edouard mine, consisting of a Ni -Cu showing disc overed by

prospecting in 199 5 in a pyroxe nite, where historical values of 1.80% Ni and 0.20% Cu were

reported in grab samples. Another grab sample from a subc ropping boulder also yielded gr ades of

1.98% Ni and 0.46% Cu about 250 metres north of the Savane showing (Source: SIGEOM NTS sheet

31P07; GM55352). Calculated nickel tenors ( grades normalized to 100% s ulfides) of historical

sampling at the Savane showing reaches up to 3.5% Ni (see Midland press release dated February 23

2021). Bedrock exposures in the Savane area e xhibit unde formed magmatic brecc ia textures,

indicative of a dynamic system conducive to the emplacement of Ni-Cu mineralization. No historical

drilling has been reported in this highly favorable area.

Midland and RTEC will be preparing an aggressive exploration program within the next weeks.

About Midland

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

deposits of gold, platinum group elements a nd base metals. Midland is proud to count on reputab le

partners such as RTEC, BHP Canada Inc., Probe Metals Inc ., Wallbridge Mining Compa ny Ltd,

Agnico Eagle Mines Limited, Osisko Development Corp. ., SOQUEM I nc., Nunav ik M ineral

Exploration Fund, and Abcou rt Mines Inc. Midland prefers to work in partnership and intends to

quickly conclude additional agreements in regard t o new ly acq uired properties. Management is

currently reviewing other opportunities and projects to build up the Corporation portfolio and generate

shareholder value.

This press release was prepared by Mario Masson. P.Geo., VP Exploration for Midland and Qualifi ed

Person as defined by NI 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 Ve nture Exchange nor its Regulation Servi ces Provider (as that term is defi ned in the

policies of the TS X Venture Exchange) accepts res ponsibility for the adequacy or accuracy of this

release.

This press release may contain forward-looking statements that ar e subject to known and unknown

risks and uncertainties that could cause a ctual results to vary materiall y from targeted results. Such

risks and uncertainties include those described in Midland’s p eriodic repor ts including the annual

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

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ABITIBI GOLD BELT

Midland / Wallbridge (Au) Midland / Agnico Eagle (Au)

Midland / SOQUEM (Zn)

Midland / Samson (Au)

Midland Willbob (Au)

Midland / Osisko(Au)

Midland / Mythril (Cu-Au-Mo-Ag)

Midland / NMEF (Ni-Cu-Co)

Midland / BHP (Ni-Cu-Co)Midland SOQUEM (Ni-Cu-Au)

Midland / Probe Metals (Au)

Tête Nord (Ni-Cu)

Tête Nord Location – New Rio Tinto Option

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Rio Tinto – New Option Agreement La Tuque

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Savane Ni-Cu

Tête Nord Zn-Cu-Au (VMS)

Lac Edouard Mine Ni-Cu

Kiskissink Ni-Cu

Cabouron Cu

Lac Curé Ni-Cu

Lac Matte Ni-Cu

Rochette Ni-Cu

Ghislaine Cu

(935 claims)

LA TUQUE

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Savane : A Dynamic Magmatic System

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Magmatic breccia in pyroxenite

• Indicative of a dynamic magmatic system

favorable for Ni-Cu deposits

Mineralized Ni-Cu breccias in pyroxenite

• Up to 1.98% Ni, 0.46% Cu (Boulder field)

• Up to 1.80% Ni, 0.20% Cu (Grab sample)

Tenors at 100% Sulphides:

Up to 3.5% Ni

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Rochette Showing

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Field visit May 2021