MD.V · 2021-05-27 12:00:00

Midland Resumes Drilling ON Mythril over Newly Identified Copper- GOLD Targets

Exploration Programs

MIDLAND RESUMES DRILLING ON MYTHRIL OVER NEWLY IDENTIFIED COPPER-

GOLD TARGETS

Montreal, May 27, 2021. Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report

that drilling will resume on its Mythril C u-Mo-Au-Ag project, wholly owned by M idland and located

in Eeyou Istchee James Bay, Quebec. In late 2018, Midland discovered Mythril by prospecting and

concluded a strategic investment with BHP Billiton Canada Inc. (“BHP”) during the spring of 2019

totalling $5.85 million for copper exploration in Quebec. A minimum 2,000-metre campaign will test

new targets generated by a new 3D Leapfrog Geo model and is starting early June 2021.

Mythril: A significant Cu-Mo-Au-Ag surface discovery in James Bay

The Mythril copper-molybdenum-gold-silver (Cu-Mo-Au-Ag) zone consists of a series of mineralized

subcropping boulder fields and Cu-Mo-Au-Ag showings occurring now over a distance of more than

3 kilometres. Located about 7 kilometres south of the Trans -Taïga road and hosted in Archean rocks

of the Superior Province, a first nine days of prospecting in 2018 highlighted the discovery of 11 new

surface Cu-Mo-Au-Ag and 2 molybdenum-only showings, yielding values such as 2.74% Cu, 0.44 g/t

Au, 0.06% Mo and 24.3 g/t Ag over 2.7 met res in a channel on the Celebor n showing. Fifty-seven

(57) grab samples from mineralized outcrops a long 2 km strike length returned an average of 2.03%

Cu, 0.48 g/t Au, 0.18 % Mo and 18.3 g/t Ag . One hundred and sixteen (116) mineralized boulders

were found, yielding an average of 1.92% Cu, 0.87 g/t Au, 0.11% Mo and 20.7 g/t Ag.

Table 1: Summary of the best Cu-Au-Mo-Ag showings found in 2018

Showing Nb of

Samples

Average Values (grab samples) Max Values (grab samples)

(%)

(g/t)

(%)

(g/t)

CuEq.

(%)*

(%)

(g/t)

(%)

(g/t)

Eriador 19 2.47 0.29 0.13 22.1 3.35 12.6 1.02 1.7 69.2

G Havens 2 5.26 0.85 0.01 40.4 6.19 9.22 1.00 0.01 69.8

Liv 5 3.25 0.61 0.12 29 4.36 9.53 1.51 0.24 55.6

Misty 6 1.53 0.31 0.02 14 1.93 2.92 0.84 0.12 28.7

Haldir 10 0.93 0.38 0.15 5.2 1.82 2.75 1.31 1.15 15.5

*Note that grab samples are selective by nature and va lues reported are not representative of

mineralized zones. Results from grab samples were disclosed in the November 6, 2018 and October

16, 2018 press releases.

Table 2: Summary of the best boulders found in 2018

Boulder

Field

Nb of

Boulders

Average Values (grab samples) Max Values (grab samples)

(%)

(g/t)

(%)

(g/t)

CuEq.

(%)* Cu (%) Au

(g/t)

(%)

(g/t)

Celeborn 22 4.20 0.95 0.19 40.9 5.91 13.2 2.92 0.58 112

Eriador 7 3.33 0.55 0.003 18 3.85 16.95 3.09 0.02 43.8

G Havens 3 2.87 0.22 0.02 32.8 3.36 4.15 0.67 0.04 49.4

Arwen 11 1.20 3.42 0.05 22.4 3.88 3.57 16.8 0.19 42.5

Luthien 11 1.48 0.67 0.06 17.2 2.30 4.95 2.14 0.27 44.4

Haldir 19 0.67 0.44 0.18 8 1.74 1.92 1.03 0.44 23.8

*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%.

Table 3: Summary of the best channel results from the Celeborn and Galadriel showings

Channel From

(m)

Width

(m)

(%)

(g/t)

(%)

(g/t)

Celeborn-R1 0 2.7 2.7 2.74 0.44 0.06 24.3

including 0 1.5 1.5 4.52 0.66 0.1 40.1

Galadriel-R1 1.25 1.5 0.25 6.34 0.78 0.23 49.4

Galadriel-R2 1.4 2.9 1.5 0.64 0.13 0.04 5.49

Galadriel-R3 0 2.5 2.5 0.6 0.28 0.03 5.8

Galadriel-R4 0 3.3 3.3 0.55 0.26 0.25 5.39

**Note t hat the true thickness of mineralized intervals cannot be determined at this time with the

information currently available.

A dipole-dipole induced polarization ( IP) geophysical survey per formed d uring the winter of 2019

indicated a large zone (more than 2 kilometres long by hundreds of metres wide) of anomalously high

chargeability coupled with decreases of resistivit y that is remarkably coincident with known Cu -Au-

Mo-Ag mineralized showings and boulder fields, as well as Cu -Mo soil anomalies (see press release

by Midland dated February 28, 2019).

Several new mineralized boulder fields were found in 2019 by furth er prosp ecting, locate d several

kilometres north and northeast of the previousl y known Mythril sh owings (see press re leases by

Midland dated November 7, 2019 and September 5, 2019). A first occurrence of predominantly gold

mineralization on Mythril was found in one of these boulder fields, to the northeast of the main trend.

The gold-bearing boulders (2.84 g/t Au; 2.83 g/t Au; 0.59 g/t Au; grab samples) contain low copper

(<0.15% Cu) and molybdenum (<0.01% Mo) values and consist of pyrite (up to 1%), magnetite and

trace chalcopyrite in a biotite-altered granodiorite. These new 2019 boulder fields made it possible to

observe a systematic increase of gold versus copper content to the east and north of the project . This

type of multi-kilometre-scale variation is typical of large -scale hydrothermal system s. These new

highly prospective areas were covered by an extensive IP geophy sical survey in the winter of 2020

(see press release by Midland dated August 11, 2020).

Three diamond drilling c ampaigns were conducted in 2019 following the IP survey, which yielded

grades up to 1.07% Cu, 0.37 g/t Au and 8.87 g/t Ag (1.41% CuEq.*) over 12.55 metres intersected

in drill hole MYT -19-06 (see press releas e by Midland dated May 16, 2019). The drilling phases

successfully identified an anomalous Cu-Mo-Au-Ag halo on the project and permitted the creation of a

3D Leapfrog Geo model. The best drilling results are summarized below. Note that the true thickness

of reported drill intervals cannot be determined with the information currently available.

• Phase 1 ( published on May 16, 2019 ): MYT-19-06: 1.07% Cu, 0. 37 g/t A u and 8.87 g/t Ag

(1.41% CuEq.*) over 12.55 metres.

• Phase 2a (published on July 30, 2019): MYT-19-11 (1300E): 1.34% Cu, 0.69 g/t Au, 0.04% Mo

and 9.54 g/t Ag (2.04% CuEq.*) over 9.00 metres.

• Phase 2b (published on September 5, 2019): MYT-19-24 (200E): 1.61% Cu, 0.09 g/t Au, 0.01%

Mo and 6.7 g/t Ag (1.77% CuEq.*) over 3.12 metres.

• Phase 3 ( published on November 5, 2019 ): MYT-19-33 (1 200E): 0.11 % Cu, 0.06 g/t Au and

2.7 g/t Ag (0.19% CuEq.*) over 93.1 metres.

New targets generated from the new 3D model and drilling campaign (2,000 m)

During the past year, a 3D geological model of mineral ization in the main area of the Mythril project

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

and define new drilling potential. A total of 10 dr illing target s were generated by studying

relationships between known geology, alteratio n and ge ophysics in the model, for a total of

2,500 metres, of which 2,000 metres will be drilled during this program.

Modelling of the mineralized envelope was carried out to determine where gaps of information on Cu-

Au-Mo-Ag mineralization were associated with favo urable geological and geophysical setting s to

expand the mineraliz ed halo. Such targets include untested areas of IP char geability anomalies

between open drill ho le intersections as well as protuberant magnetic anomalies on the 3D magnetic

inversion model occurring near the conglomerate contact to the south. The magnetic 3D anomal y

targets aim towards magnetite-bearing Cu -Mo-Au-Ag m ineralization such as tho se observed on

surface at the Liv and Luthien showings.

The gold-bearing boulders found in 2019 to the northeast of the main trend were found to coincid e

with an IP anomaly and will also be tested during this drilling phase.

About Midland

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

deposits of gold, platinum group elements and base me tals. Midland is proud to count on reputable

partners such as BHP , Probe Metals Inc., Wallbridge Mining Company Ltd, Agni co Eagle Mines

Limited, Osisko Dev elopment Corp. , SOQUEM INC., Nunavik Mineral Exploration Fund, and

Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional

agreements in regard t o newly acquired properties. Man agement is currently reviewing oth er

opportunities and projects to build up the Company portfolio and generate shareholder value.

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

Qualified Person as defin ed by NI 43-101. For further infor mation, 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 t hat term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for t he a dequacy or accuracy of this

release.

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

risks and uncertainties t hat could cause actual results to vary materially from targeted results. Such

risks and uncer tainties include those described in Midland’s per iodic re ports including the annual

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

MythrilRegional Location

Newmont

Éléonore Gold Mine

Eastmain Ressources Inc.

Eau Claire Gold Deposit

Mythril Project

Cu-Au-Mo-Ag

Stornoway Diamond Corp.

Renard Mine

Sirios Ressources Inc.

Cheechoo Gold Deposit

QPMC.

La Pointe Gold Deposit

New Midland

Komo Gold Project

New Patwon discovery

Azimut Exploration Inc.

Midland Elrond

Gold Project

THE NEXT MAJOR DISCOVERER IN QUEBEC 1

MythrilRegional New 2019-2020 Showings

Granite

Paragneiss

Tonalite

Mafic volcanics

Granite,

granodiorite

Chisaayuu block new showing

9 outcrop grabs

Average: 0.11 % Cu, 0.01 %

Mo, 0.2 g/t Au

Up to: 0.79 g/t Au, 0.22 % Cu Corvette block new showing

5 outcrop grabs

Average 0.65 % Mo, 0.1 % Cu, 0.09 g/t

Au, 6.0 g/t Ag, and Up to: 1.79 % Mo

Subcrop 3.84 g/t Au, 0.45 % Mo

Mythril Main Block Cu-

Au-Mo-Ag showings

New 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

Au-As Float

3.47 g/t Au; 1.1 g/t Au (grabs)

2021 IP Survey

2020 IP Survey

THE NEXT MAJOR DISCOVERER IN QUEBEC 2

Mythril – Surface Cu-Au-Mo-Ag Showings

Paragneiss float

0.17% Cu, 4.7 g/t Ag

Lindir

0.2% Cu

Eriador + Misty

Up to 12.65% Cu

(outcrop),

16.95% Cu (float)

Luthien

1.32% Cu

Lorien

3.04%

Grey Havens

Up to 9.22%

Liv

Up to

9.53% Cu

Sept 2018

Showings

Council

Mo Zone

Haldir

Up to

2.75% Cu

THE NEXT MAJOR DISCOVERER IN QUEBEC

12.0 % Cu, 0.33 g/t Au, 0.01 % Mo, 23.1 g/t Ag

Field Photos of Mineralized Boulders

THE NEXT MAJOR DISCOVERER IN QUEBEC 4

Field Photos of Mineralized Boulders

S409029

Celeborn boulder field

11.1% Cu, 1.9 g/t Au,

0.2% Mo, 88 g/t Ag

THE NEXT MAJOR DISCOVERER IN QUEBEC 5

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