Mr. Gino Roger reports

MIDLAND COMPLETES THE SECOND TRANCHE OF A PRIVATE PLACEMENT TOTALLING $2.7M

Midland Exploration Inc. has completed a second tranche of the non-brokered private placement previously announced on Nov. 16, 2023, by issuing 110,000 flow-through common shares at 65 cents per FT share and 666,667 charity flow-through common shares at 90 cents per charity FT share, for gross proceeds of $671,500. The securities issued in the second tranche of the private placement are subject to a four-month-and-one-day statutory hold period expiring on March 31, 2024.

Pursuant to the private placement, Midland issued an aggregate of: (i) 2,761,228 FT shares at a price of 65 cents per FT share; (ii) 666,666 common shares at a price of 45 cents per common share; and (iii) 666,667 charity FT shares at a price of 90 cents per charity FT share. The total gross proceeds of the private placement are $2,694,800.

Each FT share and charity FT share will be issued as a common share that qualifies as a flow-through share pursuant to Subsection 66(15) of the Income Tax Act (Canada), and the proceeds raised from the issuance of the FT shares and charity FT shares will be used by Midland to finance exploration work on its properties located in Quebec. Proceeds raised from the issuance of the common shares will be used for general corporate purposes.

As a result of the closing of the second tranche of the private placement, there are 86,870,758 common shares of Midland issued and outstanding.

The private placement was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.

As part of this second tranche, finders' fees equal to an aggregate amount of $4,290 were paid to arm's-length third parties of Midland.

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 BHP Canada Inc., Rio Tinto Exploration 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.

We seek Safe Harbor.