Mr. Gino Roger reports

MIDLAND AND PROBE GOLD ANNOUNCE MMI SOIL RESULTS ON THE COPPER-GOLD-SILVER-MOLYBDENUM DISCOVERY, LA PELTRIE PROJECT

Midland Exploration Inc., in joint venture with Probe Gold Inc., has released the results of MMI (mobile metal ion) sampling in the vicinity of the large copper-gold-silver-molybdenum discovery made in 2022 on the La Peltrie project. This significant mineralized system is located 15 kilometres southeast of Agnico Eagle's Zone 58N gold deposit and 25 kilometres west of the former Selbaie mine, which produced 56.9 million tonnes grading 0.87 per cent copper, 1.85 per cent zinc, 39 grams per tonne silver and 0.55 gram per tonne gold (historical production).

The La Peltrie project has been in joint venture with Probe Gold since September, 2024.

Highlights:

• Eight values above 10,000 parts per billion copper, reaching up to 31,100 parts per billion copper;
• 96 values above 2,000 parts per billion copper and 15 values above 100 parts per billion molybdenum;
• MMI copper values identify the main copper-gold-molybdenum-silver zone and extend westward;
• Several additional subparallel anomalies to the north and northeast, proximal to the contact between volcanic rocks and the Carheil intrusion;
• MMI copper-gold-silver-molybdenum anomalies show a very strong correlation with samples collected during the prospecting campaign.

The MMI sampling grid, totalling 786 soil samples, covers the main copper-gold-silver-molybdenum discovery that graded 0.20 per cent copper equivalent over 513.5 metres (see press release by Midland dated Jan. 22, 2024), at a spacing of 50 metres and 100 metres along sampling lines spaced 200 metres to 400 metres apart. The grid extends northward to cover the southern contact of the Carheil intrusion. This soil sampling grid successfully identified the main copper-gold-silver-molybdenum zone and also extended the latter westward.

Anomalous MMI values to the north and northeast show a good correlation with existing copper values in isolated prospecting samples collected in 2020 and 2023. Several of these anomalous areas also correlate with the best IP (induced polarization) anomalies from the survey conducted last March and have yet to be drill tested.

SRK Consulting performed a structural analysis of the high-resolution aeromagnetic survey conducted in 2020, and preliminary files were sent by SRK for review. To date, fault structures (first order, second order, third order and fourth order) have been established from the data. The objective of this structural analysis of the project is to improve the structural and geological understanding of the copper-mineralized zone. The study covers the copper discovery and extends northward to cover the Carheil intrusion. A final report, including the best areas of interest defined by SRK, is expected in late November.

The structural interpretation, MMI survey, drilling and IP survey will be used to identify highly prospective areas associated with copper-gold-silver-molybdenum mineralization for a coming drilling program that is currently in preparation.

Cautionary statements

Copper equivalent values were calculated using the following metal prices: $1,500 per ounce for gold, $3.25 per pound for copper, $15 per ounce for silver and $15 per pound for molybdenum. Copper equivalent values are used for exploration purposes only and do not include estimations of metallurgical recovery.

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

Mineralization occurring at the Zone 58N deposit and at the former Selbaie mine is not necessarily indicative of mineralization that may be found on the La Peltrie project held by Midland/Probe described in this press release.

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 Probe Gold, Barrick Gold Corp., BHP Canada Inc., Rio Tinto Exploration Canada Inc., Wallbridge Mining Company Ltd., Agnico Eagle Mines Ltd., SOQUEM Inc., Electric Elements Mining Corp., 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's portfolio and generate shareholder value.

This press release was prepared by Richard D. St-Cyr, exploration director for Midland, a certified geologist and qualified person as defined by National Instrument 43-101.

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