Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the commencement of a major exploration program for nickel in Nunavik, following up on exploration work carried out in 2020-2021 during which new Ni-Cu-Co mineral occurrences were discovered.

This new program will be conducted under the strategic alliance (the “Alliance”) executed in August 2020 between Midland’s wholly owned subsidiary, Midland Base Metals Inc. (“MBM”), and Rio Algom Limited, wholly owned subsidiary of BHP Group PLC (“BHP”).

The 2022 exploration program will consist of regional magnetotelluric (“MT”) surveys, as well as two phases of prospecting scheduled to take place next July and August.

Highlights:

  • New Ni-Cu-Co mineral occurrences discovered by prospecting in 2020-2021
  • Helicopter-borne EM survey (VTEM) totalling approximately 5,000 km in 2021
  • Two (2) ground-based EM surveys on Soissons totalling approximately 60 km in 2021
  • Regional MT surveys (June 2022)
  • Prospecting and mapping (July-August 2022)

New Ni-Cu-Co showings identified in 2020 and 2021

The Alliance with BHP for nickel exploration is focused on mafic intrusive rocks with troctolite/olivine gabbro compositions similar to those in Voisey’s Bay and the Nain Province, but that have historically received far less exploration, despite the discovery of several Ni-Cu-Co prospects and occurrences. The Papavoine Ni-Cu-Co prospect, discovered in 2000 and currently held by Midland, graded up to 0.63% Ni, 0.31% Cu and 0.04% Co over 6.6 metres in channel samples (see Midland’s press release dated August 12, 2021). Approximately 20 kilometres southeast of Papavoine, the Mantas intrusion yielded grades up to 0.48% Ni, 0.21% Cu and 0.06% Co over 0.7 metre in channel sample (see Midland’s press release dated August 12, 2021). In 2020 and 2021, work by Midland and BHP also confirmed two additional areas with strong potential. The Bonne Une troctolite intrusion graded up to 0.23% Ni and 0.23% Cu in grab samples (see press release by Midland dated April 15, 2021). In the A1 area, eight (8) mineralized boulders, locally derived but the source of which has yet to be determined, graded more than 0.1% Ni, with a highest grade of 0.14% Ni and 0.16% Cu in grab samples.

Commencement of regional MT surveys in June 2022

Regional MT surveys covering approximately 230 stations in three blocks, will be conducted within the area of interest. Surveys are set to begin mid-June 2022 and will take place over a period of 6 to 8 weeks. This work is designed to map and provide a preliminary assessment of the regional geological architecture.

Prospecting program in July and August 2022

Two phases of prospecting and mapping within the area of interest will be completed during July and August 2022. Over a period of three (3) weeks each, these field programs will mainly target new anomalies identified during the MT survey, as well as additional geological targets that were generated during the initial targeting phase but that were not ground-checked during the 2021 program.

A budget of CAD$2 million has been approved for the 2022 prospecting campaign and the MT survey.

Cautionary statements:

Note that grades obtained in grab samples are not necessarily representative of mineralized zones.

The true thickness of intervals reported in channel samples cannot be determined with the information currently available.

Mineralization occurring in the Voisey’s Bay area in Labrador is not necessarily indicative of mineralization that may be found on the Company project described in this press release.

Quality control

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 use of standards and blanks for every 20 samples. All samples are analyzed for multi-elements, using the four-acid ICP–AES method (ME-ICP61) at ALS Minerals laboratories in Vancouver, British Columbia. Samples with copper, zinc, molybdenum or nickel values above 1% are reanalyzed using the four-acid ICP-AES method optimized for high grades.

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 BHP, Rio Tinto Exploration Canada Inc., Wallbridge Mining Company Ltd., Probe Metals Inc., Agnico Eagle Mines Limited, SOQUEM INC., Osisko Development Corp., 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 portfolio and generate shareholder value.

This press release was reviewed and approved by Mario Masson. P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101, who also approved the technical content of this press release.

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: 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.

Forward-looking Information

This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. Forward-looking statements include the funding under the Generative Phase, the advancement of a project to the Testing Phase, the expenditure amount under the Testing Phase, the payment of success fees to Midland, the advancement of a project to the Joint Venture Phase and other estimates and statements that describe Midland’s future plans, objectives or goals, including words to the effect that Midland or management expects a stated condition or result to occur. All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, without limitation, certain rights of BHP to cease funding under the Alliance, the results of exploration in the AOI, the ability of Midland to contribute funding to maintain its interests in Designated Projects, the ability of Midland to fund its contributions under a joint venture, if formed, or have any participating interest diluted, changes in general economic conditions and conditions in the financial markets, changes in demand and prices for minerals, failure to obtain the requisite permits and approvals from government bodies and third parties, regulatory and governmental policy changes (laws and policies) and those risks set out in Midland’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Although Midland believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Midland disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Photos accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/5e390b50-9dea-43f8-912d-13adc4420e90https://www.globenewswire.com/NewsRoom/AttachmentNg/57ceb9b5-37d7-49ee-a6db-1eca1c30b8bahttps://www.globenewswire.com/NewsRoom/AttachmentNg/86793e2b-1a23-467e-9e3f-87f52fa9918chttps://www.globenewswire.com/NewsRoom/AttachmentNg/4e253f98-7f67-4f7a-aecf-db818b009753

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