Mr. Gino Roger reports

RIO TINTO IN PARTNERSHIP WITH MIDLAND BEGINS A FIRST EXPLORATION PROGRAM FOR LITHIUM ON THE MYTHRIL REGIONAL AND GALINEE PROJECTS

Midland Exploration Inc. has started a first exploration program for lithium mineralization on its Mythril area and Galinee projects, operated by Rio Tinto Exploration Canada Inc. The Mythril regional (Chisaayuu, Corvette and Mythril East) and Galinee projects have been under an option to joint venture agreement with Rio Tinto since June, 2023 (see Midland press release of June 14, 2023). The projects are located in the Eeyou Istchee James Bay region close to Patriot Battery Metals Inc.'s Corvette project and immediately east of Winsome Resources Ltd.'s Adina project, respectively.

Highlights:

• New prospecting campaign and lidar high-resolution survey to begin;
• Lithium lake bottom anomalies were identified on the Chisaayuu and Corvette projects following statistical treatment;
• Close to Mythril regional projects, a maiden resource estimate at Patriot's CV5 spodumene pegmatite returning inferred 109.2 million tonnes at 1.42 per cent Li2O (lithium oxide) (0.40 per cent Li2O cut-off) (see Patriot's press release dated July 30, 2023);
• Along strike with the Galinee project, lithium mineralization continues to be intersected by Winsome on Adina, such as 1.37 per cent Li2O over 61.2 metres from 8.9 m on its main zone, along strike with the Galinee project (see Winsome's press release dated Aug. 1, 2023).

The Eeyou Istchee James Bay region is currently the focus of an exploration rush for lithium pegmatites. The Mythril regional projects are located between 12 and 50 kilometres of lithium pegmatites discovered on Corvette as reported by Patriot. The Mythril regional projects consist of 730 claims totalling 370.1 square kilometres. The Galinee project is located about four kilometres east of the lithium pegmatites discovered on Adina and reported by Winsome. The Galinee project consists of 54 claims totalling 27.7 square kilometres.

Mythril regional and Galinee exploration program for lithium

The Mythril regional projects Chisaayuu, Corvette and Mythril East contain amphibolite rock formations, the regionally common host rock bearing lithium pegmatites, and compilation of historical work by Midland revealed strong evidence of lithium-beryllium-tantalum pegmatite potential. While exploring for copper on Chisaayuu in 2022, a pegmatite outcrop returned two strongly anomalous lithium values in grab samples: 0.12 per cent Li2O and 0.04 per cent Li2O. A grab sample of a pegmatitic boulder on the Corvette project also returned highly anomalous Li-Ta values: 0.02 per cent Li2O and 72 parts per million Ta (see Midland's press release of Feb. 7, 2023). Furthermore, lake bottom lithium anomalies were identified on the Chisaayuu and Corvette projects, following a regional statistical treatment of more than 23,000 analyses and completed by Midland (see Midland's press release of March 6, 2023). On Chisaayuu, these targets are located more to the west of the anomalous outcrop identified. None of these anomalies have been followed up yet and will be targeted during the exploration program.

This Adina showing is located at the contact between amphibolites of the Trieste formation to the south and felsic intrusives to the north. This contact is marked by a major structure that most likely controlled the emplacement of pegmatites on the Adina showing. This same highly favourable contact is present on Midland's Galinee property over more than seven kilometres and has never been explored for lithium in the past. This suggests that the Galinee project shows potential for lithium exploration. The maiden exploration program for lithium will target this structure by helicopter-supported prospecting and geological mapping. A high-resolution lidar survey covering all the projects to be explored is also continuing and will assist the exploration campaign in identifying pegmatites.

Cautionary statement

Mineralization occurring on the Adina and Corvette projects held by Winsome and Patriot, respectively, is not necessarily indicative of mineralization that may be identified on properties held by Midland discussed in this press release. Also note that grades from grab samples and erratic boulders are not necessarily indicative of mineralized zones.

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 Rio Tinto, BHP Canada Inc., Barrick Gold Corp., Probe Gold Inc., Wallbridge Mining Company Ltd., 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 company portfolio and generate shareholder value.

We seek Safe Harbor.