Mr. Gino Roger reports

MIDLAND AND RIO TINTO RESUME DRILLING ALONG THE EXTENSIONS OF THE SANTOS NICKEL-COPPER ZONE, TETE NORD PROJECT

Following the approval of permits, Midland Exploration Inc. has resumed drilling along the extensions of the new Santos nickel-copper discovery located on the Tete Nord property. This property is currently wholly owned by Midland but is subject to an option agreement with Rio Tinto Exploration Canada Inc. (RTEC) since December, 2021, and is located near the town of La Tuque, Que. (see press release by Midland dated Dec. 2, 2021).

This new drilling program targeting the Santos zone consists of four drill holes totalling 1,150 metres and is mainly designed to test new conductors identified at depth on the Santos zone following downhole and ground-based electromagnetic surveys.

The Santos nickel-copper zone was discovered in early 2023 following the drill testing of an electromagnetic VTEM (versatile time-domain electromagnetic) anomaly. The discovery hole (MDLD0015) intersected, from 14 metres to 80 metres downhole depth, several layers with nickel-copper mineralization within altered gabbro horizons. From 20.11 metres to 22.79 metres, the drill hole intersected 1.10 per cent nickel and 0.71 per cent copper over 2.68 metres. Farther down, from 33.02 metre to 43.39 metres, a mineralized interval graded 0.45 per cent nickel and 0.18 per cent copper over 10.37 metres (see press release by Midland dated April 27, 2023).

A second shallow hole was drilled in July, 2023, on the Santos zone, approximately 50 metres west of the discovery hole. After going through 11.66 metres of overburden, drill hole MDLD0018 intersected a mineralized zone grading 0.33 per cent nickel and 0.12 per cent copper over 39.73 metres from 11.66 metres to 51.39 metres downhole depth (see press release by Midland dated Oct. 12, 2023). The interval exhibits impressive magmatic breccias with decimetre-scale semi-massive sulphide zones, indicative of a dynamic magmatic system at Santos. The two drill holes, MDLD0015 and MDLD0018, began directly in the mineralized zone; the total thickness of this zone has yet to be determined and the zone remains open in all directions.

A very similar target as Santos occurs 770 metres to the south. The Santos South target consists of subtle airborne EM (electromagnetic) located in a very similar fold structure as the Santos occurrence. One drill hole totalling 300 metres will be drilled to test this target.

Additional targets were also selected for another phase of drill testing (five to seven drill holes) in early 2024 in the Bonhomme and Cutaway-East areas.

Regionally, the new Santos nickel-copper zone is favourably located along a north-south-trending structure, approximately eight kilometres north of the former Lac Edouard nickel-copper mine.

About the Tete Nord nickel-copper 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 of ore grading 1.50 per cent nickel and 0.50 per cent copper (source: SIGEOM NTS sheet 31P09).

This property hosts a few mineral occurrences, including the Savane showing, located approximately 25 kilometres south of the former Lac Edouard mine. This nickel-copper showing was discovered by prospecting in 1995, when grab samples collected in a pyroxenite yielded historical values of 1.80 per cent nickel and 0.20 per cent copper. Another grab sample from a subcropping boulder also yielded grades of 1.98 per cent nickel and 0.46 per cent copper about 250 metres north of the Savane showing (source: SIGEOM NTS sheet 31P07; GM55352).

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 in partnership with RTEC.

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 digestion (ME-4ACD81), S and C by induction furnace (ME-IR08), and Au-Pt-Pd by an ultralow-detection 30-gram fire assay (PGM-MS23L). The MDLD0018 batch of 59 samples included three CRMs (certified reference materials), two blanks and 2 core duplicates for a quality control insertion rate of 13 per cent. The certified reference materials were in-house standards TAM26 and TAM28, all independently manufactured and independently certified, and a commercial-standard OREAS 86. ALS included laboratory quality control of a range of blank and CRM materials, and seven 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, Cosmos Exploration Ltd. 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 Midland's portfolio and generate shareholder value.

Mario Masson, qualified person and vice-president, exploration, prepared this press release and verified the Tete Nord project data as Midland's qualified person within the meaning of National Instrument 43-101.

We seek Safe Harbor.