Midland Exploration Inc. (“Midland”) (TSX-V: MD), in partnership with Wallbridge Mining Company Ltd (“Wallbridge”), is pleased to announce the beginning of a new drilling campaign following up on the new gold discovery made in 2021 in the north part of the Casault project (“Casault” or the “Property”). This new discovery was made along a NW-SE-trending structure, approximately 5 kilometres west of the Martiniere (“Martiniere”) gold project held by Wallbridge.

New follow-up drilling program on the 2021 discovery

The drilling program will begin late March 2022 and will consist of three (3) drill holes totalling approximately 1,100 metres, mainly designed to test the continuity and validate the orientation of the gold zone intersected in discovery hole CAS-21-123. In the latter, an interval grading 6.85 g/t Au over 2.00 metres, from 254.40 to 256.50 metres, was reported during the summer 2021 drilling campaign (see press release by Midland dated October 21, 2021). Additional drill holes are being evaluated in the area for future drill programs.

During this phase, three (3) drill holes are planned to follow up on hole CAS-21-123. Two (2) holes will be drilled in the immediate vicinity of discovery hole CAS-21-123 and a third hole will be collared approximately 1 kilometre to the southeast, along the same structure.

  • One drill hole totalling 350 metres will be drilled towards the southwest, scissor-style, along the same section as hole CAS-21-123, to test the orientation of veins/intrusions that control gold mineralization.  
  • One drill hole totalling 400 metres will be drilled towards the north, to intersect the mineralized zone below hole CAS-21-123 and test the lithological and structural controls of gold mineralization in this area.  
  • The final drill hole, totalling 350 metres, will be collared approximately 1 kilometre southeast of the discovery hole and will be drilled towards the northeast, to test the same structure intersected in hole CAS-21-123. The magnetic high observed in this area may indicate the presence of a magnetite-bearing pyroxenite that could have acted as a chemical trap for gold.

New gold discovery in 2021

The first drill hole (CAS-21-123) had intersected new gold mineralization with a visible gold-bearing interval returning 6.85 g/t Au over 2.00 metres. This intersection is considered significant, as it is located in the northern, largely untested part of the Casault property, where no gold zone has been known so far, approximately 2 kilometres from the nearest anomalous gold intersections both on the Casault and Martiniere properties.

Hole CAS-21-123 was testing a prominent NW-SE oriented structure interpreted from airborne magnetics. This structural orientation is known to control gold mineralization at Fenelon and Martiniere, and a series of large structures of this trend also transects the Casault property. The particular structure tested by CAS-21-123 extends for an approximately 8 kilometres across Wallbridge’s Martiniere, Casault and Doigt properties and was historically tested by one drill hole on Martiniere, yielding 30.40 g/t Au over 0.44 metre, which has not been followed-up since.

The intersection in CAS-21-123 is associated with a mineralized zone consisting of chalcopyrite, pyrite, pyrrhotite, and electrum, a gold-silver mineral phase, within deformed and heavily carbonate-altered host rocks.

Casault Gold Property

The Casault property is located approximately 110 kilometres west of the town of Matagami, between Wallbridge’s Martiniere and Detour East gold properties. Wallbridge has an option to acquire up to a 65% interest in the 177 km2 project from Midland Exploration (see Midland press release dated June 18, 2020). Casault covers more than 20 kilometres of the SLDZ, along which Wallbridge’s Martiniere and Fenelon gold deposits are located and which also hosts Kirkland Lake Gold’s world-class Detour Lake Mine.

The Casault property also hosts the Vortex Zone, a syenite-associated disseminated gold system with drill hole intersections grading up to 1.38 g/t Au over 26.5 metres that was traced over a distance of 1.5 kilometre.

Cautionary statements

The true thickness of reported intervals cannot be determined with the information currently available; intervals are thus reported in core length.

Mineralization occurring on the Fenelon Gold and Martiniere/Bug Lake projects held by Wallbridge are not necessarily indicative of mineralization that may be found on the Casault property held by Midland.

Quality control

Drill core samples from the 2021 drill program at Casault were cut and bagged on site and transported to AGAT Laboratories Ltd. for analysis. Samples are crushed to 75% less than 2mm. A 250g riffle split is pulverized to 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS. Samples >10g/t Au are automatically analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis for samples containing visible gold. These and future assay results may vary from time to time due to re‒analysis for quality assurance and quality control.

About Wallbridge

Wallbridge is currently advancing the exploration and development of its 100%‒owned Fenelon Gold property located along the Detour‒Fenelon Gold Trend, an emerging gold belt in northwestern Québec. Within three years of the discovery of the Area 51 and Tabasco/Cayenne Zones, through drill programs totaling over 300,000 metres, Wallbridge reached an important milestone by announcing a maiden MRE for Fenelon and an updated MRE for the Martiniere Gold Property totalling 2.67 Moz Au in the indicated category and 1.72 Moz Au in the inferred category (for details of the MREs see Wallbridge press release dated November 9, 2021 and Technical Report filed December 23, 2021 on SEDAR).

Both properties are located on the Company's 910 km2 land package along the Detour-Fenelon Gold Trend in Northern Abitibi, Québec, with significant potential for further discoveries over a 97‒kilometre strike length of this underexplored belt.

Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately‒held company with a portfolio of nickel, copper, and platinum‒group metals (PGM) projects in Ontario's Sudbury Basin.

About Midland

Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as Wallbridge Mining Company Ltd, BHP Canada Inc., Rio Tinto Exploration Canada Inc., Probe Metals Inc., Agnico Eagle Mines Limited, Osisko Development 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.

This press release was prepared by Mario Masson. P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101 in conjunction with Wallbridge technical team.

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 : info@midlandexploration.com Website: https://www.midlandexploration.com/

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Midland’s periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities.

Photos accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/f82b1c27-4a40-41ba-9688-4e7cda746635https://www.globenewswire.com/NewsRoom/AttachmentNg/df6656aa-5c66-4b8f-a4da-d56d52e437a7https://www.globenewswire.com/NewsRoom/AttachmentNg/51477352-91a5-4789-9c95-ebb920d76945https://www.globenewswire.com/NewsRoom/AttachmentNg/c04a1924-1e0e-4b48-bbb1-59e26b224f65https://www.globenewswire.com/NewsRoom/AttachmentNg/fbd297dd-28b4-4b57-850c-27db45fe3ac7https://www.globenewswire.com/NewsRoom/AttachmentNg/70e12439-15b0-4f7e-9fae-ac0b91604b80

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