Mr. Gino Roger reports

MIDLAND SIGNS DEFINITIVE AGREEMENT WITH BARRICK FOR THE PATRIS GOLD PROPERTY

Midland Exploration Inc. has signed a definitive option agreement with a wholly owned indirect subsidiary of Barrick Gold Corp. for its Patris gold property, currently wholly owned by Midland and located about 35 kilometres northeast of the town of Rouyn-Noranda, Que.

Option agreement

Pursuant to the transaction, Barrick has the right to acquire up to a 75-per-cent interest in the property in consideration for cash payments totalling $1,017,500 and exploration work totalling $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-per-cent interest in the property over a period of four years by paying in cash $392,500 to Midland and financing expenditures of at least $4-million, including a guaranteed amount of $3-million, at which point Barrick and Midland will form a joint venture.

In the following two years, Barrick may earn an additional 9 per cent in the joint venture, for a 60-per-cent interest in consideration for cash payments totalling $265,000 and exploration work expenditures of at least $2-million.

Finally, in the subsequent two years, Barrick may earn an additional 15 per cent in the joint venture, for a total 75-per-cent interest in consideration for cash payments totalling $360,000 and exploration work expenditures of at least $10,575,000.

If Barrick does not exercise or complete the first joint venture financing or the second joint venture funding option, the joint venture interests will be subject to any subsequent adjustments in ownership made in accordance with the proportionate financing and dilution terms of the joint venture agreement. Dilution below a 10-per-cent joint ventureinterest results in conversion of the joint venture interest to a 2-per-cent NSR (net smelter return) royalty with the right to repurchase 50 per cent of the NSR royalty (1-per-cent NSR royalty) for a payment of $1.5-million.

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 eight kilometres and the La Pause fault over more than 10 kilometres, both recognized as subsidiary faults to the known Destor-Porcupine fault zone.

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

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 Barrick, BHP Canada Inc., Rio Tinto Exploration Canada Inc., 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's portfolio and generate shareholder value.

This press release was prepared by Mario Masson, PGeo, vice-president, exploration, for Midland and a qualified person as defined by National Instrument 43-101, who also approved the technical content of this press release.

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