Montreal, February 22, 2023. Midland Exploration Inc. (“Midland’ or the “Corporation”) (TSX- V: MD) is pleased to announce the acquisition by map designation of 10 0% interest in a n important strategic land position for its gold and lithium potential in southern Abitibi, Quebec. This new acquisition adjacent to the east of Midland’s Patris gold property , consists of 133 claims (74 square kilometres) and is located approximately 60 kilometres northwest of the town of Val-d’Or.
This land position covers more than 25 kilometres of turbiditic sedi ments of the Lac Cast e Formation, immediately to the sout h of the M anneville-North Fault, which is a subsidiary of th e pro lific goldbearing Destor-Porcupine Break. These turbidites are intruded by dioritic dyke swarms, as well as the western edge of the La Motte Batholith. To the south, Lac Caste sediments are in contact with ultramafic ro cks of the La Motte -Vassan Form ation, where a major deformation zone (Manneville- South Fault) can be traced over more than 10 kilometres.
These new cl aims are also located approximately 15 kilometres we st of the Authier lithium dep osit, and approximately 45 kilometres west of the LAN li thium depos it, both held by Sayona Mining Limited (“Sayona”). The LAN deposit hosts measured and indicated mineral resources (NI 43-101) of 73,675,000 tonnes grading 1.05% Li2O and inferred resources of 28,246,000 tonnes grading 1.08% Li2O. The Authier deposit hosts measured and indicated mineral resources (NI 43 -101) of 14,140,000 tonnes grading 1.01% Li2O and inferred mineral resources of 2,996,000 tonnes grading 1.00% Li2O. (Source: Sayona press release dated March 1 , 2022; Please refer to Table 1 for mi neral resources details).
Midland’s new strate gic position cover s, o ver more than 10 kilometres, the La Motte -Vassan Formation consisting of mafic and ultramafic rocks, which hosts lithium p egmatites at the Authier deposit. These new claims also cover the west and north edges of the La Motte Bat holith. The latter, along with the La Corne Batholith, both composed of gr anodioritic and monzonitic phases, occupy a central position relative to the main lithium occurrences known in this area north of Val-d’Or. Midland is curr ently planning a high -resolution ma gnetic survey in order to map in greater detail subtle mag netic fe atures as well as any structure s that could cro sscut the ultramafic rock s and h ost spodumene-bearing pegmatite intrusions.
Cautionary statement
Mineralization occurring at the LAN and Authier deposits held by Sayona is not necessarily indicative of mineralization that may be found on the Patris project held by Midland described in th is press release.
LAN Mineral Resources - Open Pit (Cut-off 0.6 % Li 2O ) Tonnes Li2O % Measured 1,471,000 0.99 Indicated 52,806,000 1.01 Inferred 13,874,000 0.96 LAN Mineral Resources - Underground (Cut-off 0.8 % Li 2O ) Tonnes Li2O % Indicated 19,3980,00 1.18 Inferred 14,372,000 1.19 LAN Mineral Resources - Total (NI 43-101) Tonnes Li2O % Measured + Indicated 73,675,000 1.05 Inferred 28,246,000 1.08 Authier Mineral Resources - Open Pit ( Cut-off 0.55 % Li2O ) Tonnes Li2O % Measured 6,042,000 0.98 Indicated 8,098,000 1.03 Inferred 2,996,000 1.00 Authier Mineral Resources - Total (NI 43-101) Tonnes Li2O % Measured + Indicated 14,140,000 1.01 Inferred 2,996,000 1.00 LAN + Authier Total Mineral Resources (NI 43-101) Tonnes Li2O % Measured + Indicated 87,815,000 1.05 Inferred 31,242,000 1.07
Table 1: NI 43-101 Mineral Resources on Sayona’s LAN and Authier Projects. Note: Mineral resource calculation for the LAN deposit was supervised by Mr. Todd McCraken, a full time employee of BBA Inc. Mineral resource calculation for the Authier deposit was supervised by Mr. Maxime Dupéré, a full time employee of SGS Canada Inc. About Midland
Midland targets the excellent mineral potential of Quebe c to make the discovery of new world -class deposits of gold and critical met als. Midland is proud to c ount on re putable p artners such as BHP Canada Inc., Rio Tinto Exploration Canada Inc., Wallbridge Mining Company Ltd, Probe Gold Inc., Agnico Eagle Mine s Limited, Os isko Development Corp. , SOQUEM Inc., Brunswick Exploration Inc., Nunavik Mineral Explora tion Fund, and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. M anagement is currently reviewing other opportunities and projects to build up the Corporation portfolio and generate shareholder value.
This press release was prepared by Mario Masson. P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101.
For further information, please consult Midland’s website or contact: Gino Roger, President and Chief Executive Officer Tel.: 450 420-5977 Fax: 450 420-5978 Email: [email protected] Website: www.midlandexploration.com Neither TSX Venture E xchange nor its Regulation Services Pr ovider (as that te rm is defi ned in the policies of th e TS X Ven ture Exchange) acc epts res ponsibility for th e ade quacy or accuracy of this release.
This press release may contain for ward-looking statements that are subje ct to known and unknown risks and unce rtainties that cou ld cause a ctual results to vary materially from targeted results. Such risks and uncerta inties include those described in Mid land’s p eriodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities. DETOUR LAKE NELLIGAN ZONE 58N MARTINIERE BUG LAKE FENELON / TABASCO CASA BERARDI DOUAY VEZZA GEANT DORMANT MOROY LAC ROSE WINDFALL BARRY Kenorland / Newmont Option PERRON WESTWOOD CROINOR CANADIAN MALARTIC KIENA GOLDEX LAMAQUE HOLT / MCDERMOTT Volcanics Igneous rocks Sediments Midland Projects Gold Mines, projects Sunday Lake FaultLower Detour Fault Cadillac Fault Laflamme Abcourt JV Coigny Turgeon La Peltrie Probe Opt Casault Wallbridge Opt Lac Esther Nomans Jeremie Valmond ELDER WASAMAC GRANADA Chicobi Fault Gaudet-Fenelon Probe JV Guyberry Patris Fleuribleu LAC SHORTT M-Cadillac Agnico Eagle JV Mistaouac Jouvex Heva Abitibi – Midland Projects & JV’s Noyelles Lewis Samson LARONDEHORNE 5 BELL OSBOURNE Adam New acquisition Au-Li 100% Midland Authier Project Sayona LAN Project Sayona Sayona projects (Lithium) New Acquisition Gold-Lithium - 100% Midland Authier Project Sayona Ressources NI 43-101 Authier Project Sayona
Mes.+ Ind. : 14 140 000 tonnes at 1.01% Li2O
Inferred : 2 996 000 tonnes at 1.00% Li2O
Patris Property
100% Midland Mafic volcanics Felsic volcanics Sediments Felsic intrusions Mafic intrusions Manneville-South Fault Manneville-North Fault LAN Project Sayona Resources NI 43-101 LAN Project Sayona
Mes.+ Ind. : 73 675 000 tonnes at 1.05% Li2O
Inferred : 28 246 000 tonnes à 1.08% Li2O
Favourable Area Au-Li over more than 10 km La Motte Batholith La Motte Batholith NEW ACQUISITION 100% MIDLAND POTENTIAL FOR AU-LI 133 claims for 74 km² Geology Westwood Mine LaRonde Mine Lithium showingsGold Mines Mag Gradient New Acquisition Gold-Lithium - 100% Midland Patris Property 100% Midland NEW ACQUISITION 100% MIDLAND POTENTIAL FOR AU-LI 133 claims for 74 km² Manneville-South Fault Manneville-North Fault La Motte Batholith La Motte Batholith Authier Project Sayona Ressources NI 43-101 Authier Project Sayona
Mes.+ Ind. : 14 140 000 tonnes at 1.01% Li2O
Inferred : 2 996 000 tonnes at 1.00% Li2O
LAN Project Sayona
Resources NI 43-101 LAN Project Sayona
Mes.+ Ind. : 73 675 000 tonnes at 1.05% Li2O
Inferred : 28 246 000 tonnes à 1.08% Li2O
Lithium showings
Westwood Mine LaRonde Mine
Gold Mines
Favourable Area Au-Li over more than 10 km