Mr. Gino Roger reports

MIDLAND IN PARTNERSHIP WITH RIO TINTO ANNOUNCE A NEW NICKEL-COPPER ZONE ON THE TETE NORD PROJECT

Midland Exploration Inc. has intersected a new nickel-copper occurrence during the first drilling program completed by Rio Tinto Exploration Canada Inc. (RTEC) on the Tete Nord property. Located near the town of La Tuque, Que., this property is currently wholly owned by Midland but is under option by RTEC since December, 2021 (see Midland's press release dated Dec. 2, 2021).

Highlights:

• New Ni-Cu zone (Santos) eight kilometres north of the former Lac Edouard Ni-Cu mine;
• Significant Ni-Cu mineralization intervals were encountered from surface to 79 metres. Varied textured gabbro representing multiple intrusions were encountered with mineralization that ranged from weakly disseminated, net-textured to semi-massive;
• Drill intercepts grading up to 1.10 per cent Ni, 0.71 per cent Cu over 2.68 metres and 0.45 per cent Ni, 0.18 per cent Cu over 10.37 metres;
• The Santos zone remains open at depth and is accompanied by an off-hole anomaly;
• 510 additional claims were staked.

Santos: a new Ni-Cu zone in drill hole

Drill hole MDLD0015, which was designed to test a VTEM (versatile time-domain electromagnetic) anomaly, and an off-hole anomaly detected in drill hole MDLD0009, intersected, from 14 metres to 80 metres downhole depth, several layers with Ni-Cu mineralization within altered gabbro horizons. From 20.11 to 22.79 metres, the drill hole intersected 1.10 per cent Ni and 0.71 per cent Cu over 2.68 metres. A little farther down, from 33.02 to 43.39 metres, a mineralized interval graded 0.45 per cent Ni and 0.18 per cent Cu over 10.37 metres. These mineralized gabbro zones generally exhibit net-textured and disseminated sulphides and alternate with metre-scale barren gabbro layers. Geochemical treatment to determine the affinity of the various units intersected is also in progress.

This new Ni-Cu mineralized Santos zone is regionally well located along a north-south structure eight km north of the former Lac Edward Ni-Cu mine.

The best mineralized intervals intersected in drill hole MDLD0015 are summarized in the attached table.

The results of electromagnetic surveys conducted on surface and in drill hole indicate the presence of an unexplained conductor plunging to the southeast. The Santos zone thus remains entirely open in that direction. A geophysical gravity survey is currently under way and drilling to follow up on this new discovery is expected to resume in July, 2023.

Ni-Cu intercepts on Savane

During this initial drilling program, 16 drill holes totalling 3,450 metres were completed to test a series of VTEM targets identified during the 2022 survey. Final assay results are still pending for 10 drill holes.

Among these, in the vicinity of the Savane showing, drill hole MDLD0001 intersected an interval grading 1.07 per cent Ni and 0.13 per cent Cu over 0.78 metre, from 101.87 to 102.65 metres, associated with a mineralized pyroxenite horizon. Several other metre-scale intervals also yielded anomalous Ni-Cu values in drill holes MDLD0001 and MDLD0002.

Following geochemical treatment, the majority of Savane pyroxenites show geochemical affinity with mafic-ultramafic cumulate rocks based on chromium, Ni and titanium values, a strong indication of a dynamic conduit system and promising for Ni-Cu mineralization.

Map designation of 510 additional claims toward the northeast

Following this new Ni-Cu discovery at Santos, a total of 510 additional claims were map-designated to consolidate the Tete Nord property toward the northeast. This brings the total number of claims subject to the partnership with RTEC to 1,286 claims covering a surface area of approximately 746 square kilometres.

About the Tete Nord Ni-Cu property

The Tete Nord property covers mafic and ultramafic rocks of the La Bostonnais complex north of La Tuque, which hosts the former Lac Edouard mine that historically produced 50,000 tonnes grading 1.50 per cent Ni and 0.50 per cent Cu.

This property hosts a few mineral occurrences, including the Savane showing located approximately 25 kilometres south of the former Lac Edouard mine. This Ni-Cu showing was discovered by prospecting in 1995 when grab samples collected in a pyroxenite yielded historical values of 1.80 per cent Ni and 0.20 per cent Cu. Another grab sample from a subcropping boulder also yielded grades of 1.98 per cent Ni and 0.46 per cent Cu about 250 metres north of the Savane showing.

Cautionary statements:

Note that grab sample grades may not be representative of mineralized zones.

The true thickness of reported intervals cannot be determined with the information currently available; intervals are thus reported in core length.

Mineralization occurring at the former Lac Edouard mine is not necessarily indicative of mineralization that may be found on the Tete Nord property held by Midland.

Quality control

Drill core samples were sent to ALS Thunder Bay for preparation and ALS Vancouver for analysis. Samples were prepared by the RIORCK package where the entire sample is crushed to 70 per cent less than two millimetres using a Boyd crusher-splitter combination, then one kilogram of material is pulverized to better than 85 per cent passing 75 microns. This method includes between-sample washes on both the crushers and pulverizers. The samples were analyzed for a full element suite using lithium borate fusions (ME-ICP06 and ME-MS81), four-acid and aqua regia digestions (ME-MS61L) and ME-MS41L), sulphur and carbon by induction furnace (ME-IR08), and gold-platinum-palladium by an ultralow detection 30-gram fire assay (PGM-MS23L). The MDLD0015 batch of 114 samples included eight certified reference materials and 13 blanks, and four core duplicates for a QC insertion rate of 28 per cent. The certified reference materials were in-house standards CL-LG, CL-HG and EA-M, all independently manufactured and independently certified. ALS included laboratory QC of a range of blank and CRM materials, and 16 RTX samples were analyzed twice as pulp duplicates.

About Midland Exploration Inc.

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 RTEC, BHP Canada Inc., Barrick Gold Corp., Wallbridge Mining Company Ltd., Probe Gold Inc., Agnico Eagle Mines Ltd., Osisko Development Corp., SOQUEM Inc., Brunswick Exploration Inc., 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 corporation portfolio and generate shareholder value.

We seek Safe Harbor.