Mr. Gino Roger of Midland reports

MIDLAND ANNOUNCES CLOSING OF $6.1 MILLION PRIVATE PLACEMENT WITH STRATEGIC INVESTMENT FROM CENTERRA GOLD

Midland Exploration Inc. has closed a previously announced private placement (see news release dated July 22, 2025), for gross proceeds of $5,058,750 from the sale of 10.65 million shares of the corporation at a price of 47.5 cents per FT (flow-through) share. Each FT share will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada). As part of the private placement, Midland is pleased to welcome Centerra Gold Inc. as a new strategic investor. Centerra now holds approximately 9.9 per cent of the corporation's issued and outstanding common shares.

Midland is also pleased to announce the closing of a concurrent non-brokered private placement of 3,181,819 common shares at a price of 33 cents per share, for gross proceeds of $1.05-million, with the following entities:

• CDPQ Sodemex Inc. (a wholly owned subsidiary of Caisse de depot et placement du Quebec), which exercised its contractual right to participate in certain share placements of the corporation;
• SIDEX LP;
• NQ Investissement Minier LP.

After closing of the private placements of FT shares and shares for aggregate gross proceeds of $6,108,750, there are 107,450,577 common shares of the corporation issued and outstanding.

The gross proceeds from the offering will be used for Canadian exploration expenses that qualify as flow-through mining expenditures" as both terms are defined in the tax act. The qualifying expenditures will be incurred on or before Dec. 31, 2026, and will be renounced to the subscribers with an effective date no later than Dec. 31, 2025, in an aggregate amount not less than the gross proceeds raised from the issuance of the FT shares.

The proceeds of the offering are expected to enable the corporation to generate and advance high-quality targets on its wholly owned gold exploration projects in Abitibi, James Bay, and Northern Quebec over the next 18 months. Refundable tax credits of 22.5 per cent are expected to be recovered on eligible exploration expenditures incurred by the corporation on its gold projects.

In connection with the offering, Midland entered into an investor rights agreement with Centerra, under which, subject to certain conditions, Centerra was granted certain rights, including the right to participate in future share issuances in order to maintain its percentage of share ownership in the corporation.

The offering remains subject to the final approval of the TSX Venture Exchange. All securities issued in connection with the offering are subject to a hold period of four months plus one day from the closing date, in accordance with applicable Canadian securities legislation.

About Centerra Gold Inc.

Centerra is a Canadian-based mining company focused on operating, developing, exploring and acquiring gold and copper deposits in North America, Turkey and other markets worldwide. Centerra owns and operates the Mount Milligan mine in British Columbia, Canada, and the Oksut mine in Turkey. It also owns several exploration and development assets and manages a molybdenum business unit with assets in Canada and the United States.

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., 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.

We seek Safe Harbor.