Mr. Gino Roger reports

MIDLAND BEGINS MAJOR AIRBORNE ELECTROMAGNETIC SURVEY IN NUNAVIK, QUEBEC, FOR COPPER-NICKEL AS PART OF ITS STRATEGIC ALLIANCE WITH BHP

Midland Exploration Inc. has started an important copper-nickel exploration program in Nunavik, following exploration work from 2020 to 2024, during which new Cu-Ni-Co (copper-nickel-cobalt) mineralized showings were discovered.

This new program will be carried out within the framework of the strategic alliance, signed in August, 2020, between Midland's wholly owned subsidiary, Midland Base Metals Inc., and Rio Algom Ltd., a wholly owned subsidiary of BHP Group Ltd.

The 2025 exploration program will focus on a new major crustal-scale structure and its subsidiary faults, which were identified during the regional magnetotelluric (MT) survey and the Z-Tipper axis airborne electromagnetic (ZTEM) survey, conducted in 2022 to 2023. These structures, previously poorly recognized, are considered favourable for copper-nickel mineralization. The 2025 program will consist of an airborne HeliTEM time-domain electromagnetic (TDEM) survey.

Highlights:

• The regional MT survey completed in 2022 identified a new major crustal-scale structure in a poorly explored area, which is considered favourable for copper-nickel mineralization.
• Several lake-bottom copper-nickel anomalies detected following a 1,383-sample survey conducted in July, 2023.
• A helicopter-borne Z-Tipper electromagnetic (ZTEM) survey totalling approximately 8,900 linear kilometres conducted in July, 2023, identified several new conductive features.
• New Cu-Ni-Co mineralized intrusions discovered through prospecting in 2024.
• Regional airborne time-domain electromagnetic (TDEM) survey (HeliTEM) totalling approximately 6,600 linear kilometres, to be completed in June, 2025.

New Cu-Ni-Co showings and occurrences identified from 2022 to 2024

The copper-nickel exploration alliance with BHP is primarily targeting mafic troctolite/olivine gabbro intrusive rocks similar to those at Voisey's Bay and the Nain, but which have been the subject of much less historical exploration in Quebec. Nevertheless, several Cu-Ni-Co prospects and showings have been recently discovered there. The 2024 exploration program focused on a major crustal-scale structure and its subsidiaries, which were identified during a regional MT survey in 2022 and refined during the regional Z-Tipper axis airborne electromagnetic (ZTEM) survey conducted in 2023. These previously poorly recognized structures would be potentially favourable for copper-nickel mineralization and were therefore followed up with a lake-bottom sediment survey totalling 1,383 samples in 2023. Prospecting programs in 2022 to 2023 targeting these structures led to the identification of the Target 22 showing, where selected grab samples returned grades of 0.81 per cent Ni, 0.22 per cent Cu and 0.19 per cent Co. The Soisson intrusive suite was also recognized over a distance of 15 kilometres long with some local mineralized outcrops (see Midland press release dated July 3, 2024). The 2024 prospecting campaign identified four unmapped Soisson intrusions as well as mineralization in one of them. Selected grab samples returned grades of 0.3 per cent Cu and 0.4 per cent Ni, suggesting Ni/Cu ratios of approximately 1.5, similar to and/or higher than the ratio obtained in other Soisson intrusions in the area.

Regional MT surveys completed in 2022

Regional MT surveys consisting of approximately 230 stations in three blocks were completed in 2022 in the Alliance prospect area. Using a mineralizing systems approach, the objective of the surveys was to identify structures that may have channeled copper-nickel-bearing mafic magmas from the mantle to the upper crust. A major crustal-scale structure (the Abloviak shear zone) is evident at the Voisey's Bay Cu-Ni-Co mine in Labrador and is interpreted to have been critical to the genesis of the deposit. The 2022 MT surveys identified a new major crustal-scale structure, which is interpreted to cross the entire prospect area. This structure is a high-priority target for copper-nickel exploration.

Lake sediment survey in July, 2023

A high-density lake sediment survey comprising approximately 1,383 samples was conducted in July, 2023, to cover the crustal-scale structure identified during the 2022 MT survey. Several copper-nickel anomalies were detected. One of these led to the discovery of a new copper-nickel mineralized intrusion during the 2024 prospecting campaign.

ZTEM electromagnetic survey in July, 2023, and TDEM survey in June, 2025

A Z-Tipper axis electromagnetic (ZTEM) survey was also conducted on the crustal-scale structure. The survey clarified the location and orientation of the structure near the surface and potentially identified conductive anomalies caused by copper-nickel mineralization. Due to adverse weather conditions, the regional helicopter-borne time-domain electromagnetic (HeliTEM) survey planned for 2024 has been postponed to 2025. A budget has been approved to conduct this approximately 6,600-line-kilometre HeliTEM airborne survey, which will begin in June, 2025.

Quality control

During the last prospecting program, assay samples (grab) were taken and sent to a certified commercial laboratory (Actlab). A strict QA/QC (quality assurance/quality control) program was applied to all samples which includes insertion of mineralized standards and blank samples for each batch of 20 samples. The gold analyses were completed by fire assayed with an atomic absorption finish on 50 grams of materials. The samples were also analyzed using a geochemical group of 60 multielements by four-acid digestion followed by ICP-OES (inductively coupled plasma optical emission spectroscopy) finishing.

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

Qualified person and exploration director Richard D. St-Cyr prepared this press release and verified the scientific and technical information disclosed herein the Alliance Ni project data as Midland's qualified person (QP) within the meaning of National Instrument 43-101.

We seek Safe Harbor.