Mr. Gino Roger reports

MIDLAND EXPLORATION COMPLETES A $5.3 MILLION PRIVATE PLACEMENT

Midland Exploration Inc. has completed a second and final tranche of its previously announced non-brokered private placement by issuing 6,926,123 units of Midland at a price of 45 cents per unit for aggregate gross proceeds of $3.1-million. Each unit consists of one common share and one warrant. Each warrant entitles the holder to purchase one common share of Midland at a price of 65 cents for a period of two years from the date of issuance. The total gross proceeds for this tranche and the one previously closed on May 11, 2026, is $5.3-million.

Institutional investors have participated in the second tranche of the private placement, such as CDPQ Sodemex Inc. (a wholly owned subsidiary of Caisse de depot et placement du Quebec), Desjardins Capital Appui PME SEC, NQ Investissement Minier and SIDEX, societe en commandite. In addition, Centerra Gold Inc. has exercised its pre-emptive right to maintain its ownership to approximately 9.9 per cent by acquiring 1,173,333 units. This right was granted to Centerra in July, 2025, pursuant to an investor rights agreement with Midland.

This second tranche was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange. All securities issued under this second tranche will be subject to a statutory hold period expiring on Sept. 22, 2026. As part of the second tranche, Midland paid a cash finder's fee of $68,280 to Red Cloud Securities Inc. and $5,400 to Raymond James Ltd.

Midland will use the private placement proceeds to finance its exploration plan and for general corporate purposes.

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, Barrick Gold Corp., Agnico Eagle Mines Ltd., Wallbridge Mining Company Ltd., Fresnillo PLC, Electric Element 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.

We seek Safe Harbor.