Mr. Gino Roger reports

MIDLAND DISCOVERS AN IMPORTANT GOLD-ZINC-SILVER MINERALIZED SYSTEM ON ITS CANIAPISC AU PROJECT, JAMES BAY

Midland Exploration Inc. has recently discovered a major gold-zinc-silver mineralized system on its Caniapisc Au project. The Caniapisc Au project is wholly owned by Midland and consists of 296 claims (EER) covering an area of 146 square kilometres.

Highlights:

• Several important clusters of gold-zinc-manganese-silver and gold-zinc-silver (lead)-bearing boulders coinciding with extensive gold-zinc anomalies in soils;
• Eight rock samples (boulders) with gold values above 1.00 grams per tonne gold (maximum of 14.3 g/t Au); five rock samples (boulders) with zinc values above 1 per cent Zn (max of 4.5 per cent Zn);
• 27 soil samples with values above 10 parts per billion gold, including six soil samples with values greater than 100 parts per billion gold (maximum of 423 ppb Au);
• 34 rock samples (boulders) with gold values above 0.10 g/t Au;
• Diverse metal assemblages -- gold-zinc (lead), gold-zinc-manganese, copper-molybdenum-gold-silver, gold-copper and gold only -- in distinct lithologies, suggesting several distinct gold sources and a fertile environment for Au;
• Acquisition by map designation of 201 new claims (EER) along the periphery of the Caniapisc Au gold property;
• The 2024 till program confirmed historical gold anomalies with up to 100 gold grains per 10 kilograms of till (Nov. 14, 2024, press release and 2014 report; GM 67959 Ministry of Natural Resources and Forest).

A 10-day geological reconnaissance campaign was conducted last June on the Caniapisc Au project. The main objectives of this campaign were to explain several Au-Zn-Pb-Mo anomalies discovered in 2024 (Nov. 14, 2024, press release) to conduct its first geological assessment of its gold potential and to carry out a prospecting campaign and a soil survey covering most of the project area. A total of 159 rock samples and 318 soil samples (B horizon) were collected.

2025 rock sampling results

Within a two-kilometre radius up ice from historical gold anomalies in tills (2014 report; GM 67959 Ministry of Natural Resources and Forest), prospecting efforts identified boulder fields (with subangular to angular boulders) and outcrops showing anomalous values for Au and various other metals (Zn, Mn, Pb, Cu, Mo and Ag). Very few outcrops are present within the project area. Boulder prospecting thus becomes a valuable tool in this type of environment. Out of a total of 159 isolated samples (grab samples) collected during this campaign, eight yielded gold values above 1.00 g/t Au, including a maximum value of 14.3 g/t Au, and 34 samples yielded gold values between 0.10 and 1.00 g/t Au (table 1). Five grab samples (rocks) also yielded zinc values above 1 per cent (maximum 4.5 per cent Zn). The same five samples also exhibited high manganese (MnO) values reaching up to 7.67 per cent MnO. All of the 2025 samples with anomalous gold and zinc values were collected in boulders.

Gold results from the 2025 soil survey

Gold results for the 318 soil samples (B horizon) collected on the property include six values greater than 100 parts per billion Au (maximum equals 423 ppb Au), one value between 50 and 100 ppb, and 20 values between 10 and 50 ppb. An extensive anomaly (around a lake in the south part of the project) is characterized by an Au-Zn-Mn signature. Four other strong anomalies in soils (Au only) are also present within the survey area.

Metal assemblages in rocks

Sampling conducted in 2024-2025 in this area led to the identification of several distinct metal assemblages in boulders and outcrops. Many boulders exhibit gold-zinc-silver-lead, gold-zinc-manganese-silver or copper-molybdenum-gold-silver (boulders and outcrops) assemblages. Au-Zn-Ag-Pb and Au-Zn-Mn-Ag boulders are, for the most part, located near a lake in the south part of the project area, and their origin is deemed local, within the immediate vicinity, based on the distribution of boulders and coinciding soil anomalies. The five samples grading above 1 per cent Zn are located in this area (maximum 4.5 per cent Zn). Au-Zn-Mn mineralization (which yielded the highest Zn grades) is associated with very strong calc-silicate alteration (calcium-iron-magnesium-silicon, amphibole-garnet-calcite in descriptions) accompanied by nearly complete sodium-potassium leaching.

Numerous other gold-bearing boulders sampled in various parts of the project exhibit metal assemblages different from these Au-Zn-Ag-Pb, Au-Zn-Mn-Ag and Cu-Mo-Au-Ag assemblages (table 2), namely including Au-Cu and Au-dominant assemblages, which likely indicate distinct sources of gold. In particular, an amphibolite boulder with potassic alteration located approximately 800 metres east of the Au-Zn-Mn boulders graded 14.3 g/t Au. Another amphibolite boulder with strong potassic alteration (fuchsite), located more than three kilometres northeast of the Au-Zn-Mn boulders, graded 2.87 g/t Au with anomalous arsenic values (the only As anomaly in the area). The source of these boulders has not yet been located and is considered distinct from Au-Zn-Ag (Mn-Pb) and Cu-Mo-Au-Ag boulders. A highly angular boulder of amphibolite with quartz veining, located in the west part of the project, graded 3.29 g/t Au, 0.67 per cent Zn, 0.12 per cent Pb, 0.05 per cent Cu and 6.7 g/t Ag. This boulder is located near an amphibolite outcrop that also exhibits anomalous Au, Zn and Pb values and, as such, is considered of local origin and a high-priority target for follow-up.

The very strongly similar alteration assemblages associated with Au-Zn-Mn and Cu-Mo signatures suggest they may represent the same mineralization system. The Cu-Mo signature is most certainly magmatic-hydrothermal (associated with felsic intrusions), indicating the Au-Zn-Mn mineralization is likely related to this system as a more distal facies. The remarkable intensity of the calc-silicate alteration suggests skarn-type mineralization, as well as the possibility that extreme calcium enrichment may be explained by calcium-rich protoliths. Zn-Mn mineralization is fairly typical in zinc-rich skarn settings.

New exploration program

Midland is pleased to announce the acquisition, by map designation, of 201 new claims along the perimeter of its Caniapisc Au gold property, wholly owned by Midland.

A 10-day exploration program will be conducted in the coming weeks on the Caniapisc Au project. This program will include geological mapping combined with prospecting, as well as an extensive soil sampling program to cover areas that were not covered during the previous phase, as well as the new EER recently acquired on the project. A total of 200 soil samples will be collected at a 200-metre spacing along grid lines spaced every 400 metres. A tighter spacing is planned in the vicinity of new gold anomalies in soils.

About the Caniapisc Au project

The Caniapisc Au project lies south of the Caniapiscau reservoir, and is geologically located within the Ashuanipi subprovince, a lesser known and explored portion of the Archean Superior province. The project is more specifically located in the Raynouard complex, characterized by a 50 kilometre-long volcanosedimentary belt comprising bimodal volcanic sequences, metasedimentary rocks and iron formations. Historical exploration work, to the south of the Caniapisc Au project, highlights the potential of the Raynouard complex with the presence of volcanogenic Cu-Zn-Ag-Au and porphyry Cu-Au-Ag-Mo mineralization. The Caniapisc Au project is strategically located north of these showings, where a historical 2014 till sampling survey identified gold anomalies. Three till samples, located within the perimeter of the project, returned up to 41 pristine, 66 modified and nine remodelled gold grains, which to its current knowledge have not been followed up extensively.

Quality control

Rock samples from the project were analyzed at Actlabs laboratories in Ancaster, Ont., by ICP-MS with four-acid digestion for metals, and by standard fire assay on 30-gram fractions with atomic absorption finish for gold and by ICP-OES fusion for major elements (including MnO). Soil samples are processed and analyzed at Actlabs laboratories in Ancaster, Ont., by neutron activation (namely for Au) and ICP-OES with four-acid extraction (namely for Zn and Mn), after sieving to minus 177 microns. Exploration programs are designed, and results are interpreted by qualified persons employing a quality assurance/quality control program consistent with industry best practices, including the alternative use of standards and blanks for every 20 samples.

Cautionary statements

Grab samples are selective by nature and may not be representative of mineralized zones.

Mineralization occurring at deposits and showings mentioned in this press release is not necessarily indicative of mineralization that may be found on projects held by Midland and mentioned 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 Rio Tinto Exploration Canada Inc., BHP Canada Inc., Centerra Gold 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 Midland's portfolio and generate shareholder value.

Qualified person and exploration director Richard D. St-Cyr, PGeo, prepared this press release and verified the Caniapisc Au project data as Midland's qualified person within the meaning of National Instrument 43-101.

We seek Safe Harbor.