Midland Signs Definitive Agreement with Barrick FOR the Patris GOLD Property

MIDLAND SIGNS DEFINITIVE AGREEMENT WITH BARRICK FOR THE PATRIS GOLD

PROPERTY

Montreal, May 15, 202 3. Midland Exploration I nc. ("Midland") (TSX -V: MD) is pleased to

announce the sign ing of a definitive option a greement with a wholly -owned indirect subsidiary of

Barrick Gold Corporation ("Barrick") for its Patris gold property (the “Property”), currently wholly-

owned by Midland and located about 35 kilometres northeast of the town of Rouyn-Noranda, Quebec

(the “Transaction”).

Option Agreement

Pursuant to the Transaction , Barrick has the right to acquire up to a 75% interest in the Property in

consideration for cash payments totaling C$1,017,500 and exploration work totaling C$16,575,000,

over an eight-year period. Barrick will be the operator of the work carried out under the Transaction.

Barrick may earn an initial 51% interest in the Property over a period of four years, by paying in cash

C$392,500 to Midland and funding expenditures of at least C$4,000,000, including a guaranteed amount

of C$3,000,000, at which point Barrick and Midland will form a joint venture (the “JV”).

In the following two years, Barrick may earn an additional 9% in the JV , for a 60% interest in

consideration for cash payments totalling C$265,000 and exploration work expenditures of at least

C$2,000,000 (the “First JV Funding Option”).

Finally, in the subsequent two years, Barrick may earn an additional 15% in the JV , for a total 75%

interest in consideration for cash payments totalling C$360,000 and exploration work expenditures of

at least C$10,575,000 (the “Second JV Funding Option”).

If Barrick does not exercise or complete the First JV Funding or the Second JV Funding Option, the JV

interests will be subject to any subsequent adjustments in ownership made in accordance with the

proportionate funding and dilution terms of the JV agreement. Dilution below a 10% JV interest results

in conversion of the JV interest to a 2% NSR royalty with the right to repurchase 50% of the NSR royalty

(1% NSR) for a payment of C$1,500,000.

About the Patris Property

The wholly-owned Patris project comprises 299 claims covering a surface area of about 117 square

kilometres, located less than 10 kilometres northwest of the prolific Doyon/Westwood -Bousquet-La

Ronde gold mining camp. The Patris property offers excellent gold potential as it covers the Manneville

Fault over more than 8 kilometres and the La Pause Fault over more than 10 kilometres, both recognized

as subsidiary faults to the well-known Destor-Porcupine Fault Zone.

Barrick will be preparing an exploration program within the next weeks.

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 Barrick,

BHP Canada Inc., Rio Tinto Exploration Canada Inc., Wallbridge Mining Company Ltd, Probe Gold

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

Inc., Nunavik Mineral Exploration Fund, and Abcourt Mines Inc. Midland prefers to work in partnership

and intend s to quickly conclude additional agreements in regard to newly acquired 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 Qualified

Person as defined by NI 43-101, who also approved the technical content of this press release.

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: www.midlandexploration.com

Neither TSX Vent ure 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 Midland’s periodic reports including the annual report or in

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

New Definitive Agreement with Barrick

DETOUR LAKE

NELLIGAN

ZONE 58N

MARTINIERE

BUG LAKE

FENELON / TABASCO

CASA BERARDI DOUAY VEZZA

GEANT DORMANT

LAC SHORTT

MOROY

LAC ROSE

WINDFALL

BARRY

Kenorland / Newmont Option

PERRON

WESTWOOD

LARONDE

CROINOR

CANADIAN MALARTIC

KIENA GOLDEX

LAMAQUE

HOLT / MCDERMOTT

Volcanics

Ignous rocks

Sediments

Midland Projects

Gold Mines, Projects

Sunday Lake Fault

Lower Detour Fault

Cadillac Fault

FAYOLLE

BEATTIE

Patris

Guyberry

Heva

Laflamme

Abcourt JV

Coigny

Turgeon

Mistaouac

La Peltrie

Probe Opt

Jouvex Noyelles

Lac Esther

Nomans

Lewis

Fleuribleu

Jeremie

Adam Samson

ELDER

WASAMAC

GRANADA

HORNE 5

Chicobi Fault

M-Cadillac

Agnico Eagle JV

Gaudet-Fenelon

Probe JV

Casault

Wallbridge Opt

BELL OSBOURNE

New Option Barrick

Patris Project

New Definitive

agreement with

Barrick