Midland in Partnership With Rio Tinto Announce a New Nickel-Copper Zone on the Tête Nord Project

MONTRÉAL, April 27, 2023 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the intersection of a new nickel-copper (“Ni-Cu”) occurrence during the first drilling program completed by Rio Tinto Exploration Canada Inc. (“RTEC”) on the Tête Nord property. Located near the town of La Tuque, Quebec, this property is currently wholly owned by Midland but is under option by RTEC since December 2021 (see Midland’s press release dated December 2, 2021).

Highlights:

• New Ni-Cu zone (Santos) 8 km north of the former Lac Edouard Ni-Cu mine;
• Significant Ni-Cu mineralisation intervals were encountered from surface to 79 metres. Varied textured gabbro representing multiple intrusions were encountered with mineralisation that ranged from weakly disseminated, net-textured to semi-massive;
• Drill intercepts grading up to 1.10% Ni, 0.71% Cu over 2.68 metres and 0.45% Ni, 0.18% Cu over 10.37 metres;
• The Santos zone remains open at depth and is accompanied by an off-hole anomaly;
• 510 additional claims were staked.

Santos : A new Ni-Cu zone in drill hole

Drill hole MDLD0015, which was designed to test a VTEM anomaly, and an off-hole anomaly detected in drill hole MDLD0009, intersected, from 14 metres to 80 metres downhole depth, several layers with Ni-Cu mineralization within altered gabbro horizons. From 20.11 to 22.79 metres, the drill hole intersected 1.10% Ni and 0.71% Cu over 2.68 metres. A little further down, from 33.02 to 43.39 metres, a mineralized interval graded 0.45% Ni and 0.18% Cu over 10.37 metres. These mineralized gabbro zones generally exhibit net-textured and disseminated sulphides and alternate with metre-scale barren gabbro layers. Geochemical treatment to determine the affinity of the various units intersected is also in progress.

This new Ni-Cu mineralized Santos zone is regionally well located along a North-South structure 8 km North of the former Lac Edward Ni-Cu mine.

The best mineralized intervals intersected in drill hole MDLD0015 are summarized in the table below.

Drillhole MDLD0015
From (m)	To (m)	Width (m)	WtAve Ni%	WtAve Cu%
14.26	15.75	1.49	0.52	0.18
20.11	22.79	2.68	1.10	0.71
29.67	31.40	1.73	0.30	0.11
33.02	43.39	10.37	0.45	0.18
58.19	64.01	5.82	0.41	0.15
66.86	71.25	4.39	0.33	0.13
73.57	78.72	5.15	0.36	0.13

The results of electromagnetic surveys conducted on surface and in drill hole indicate the presence of an unexplained conductor plunging to the southeast. The Santos zone thus remains entirely open in that direction. A geophysical gravity survey is currently underway and drilling to follow up on this new discovery is expected to resume in July 2023.

Ni-Cu intercepts on Savane

During this initial drilling program, sixteen (16) drill holes totalling 3,450 metres were completed to test a series of VTEM targets identified during the 2022 survey. Final assay results are still pending for ten (10) drill holes.

Among these, in the vicinity of the Savane showing, drill hole MDLD0001 intersected an interval grading 1.07% Ni and 0.13% Cu over 0.78 metre, from 101.87 to 102.65 metres, associated with a mineralized pyroxenite horizon. Several other metre-scale intervals also yielded anomalous Ni-Cu values in drill holes MDLD0001 and MDLD0002.

Following geochemical treatment, the majority of Savane pyroxenites show geochemical affinity with mafic-ultramafic cumulate rocks based on Cr, Ni and Ti values, a strong indication of a dynamic conduit system and promising for Ni-Cu mineralisation.

Map designation of 510 additional claims toward the northeast

Following this new Ni-Cu discovery at Santos, a total of 510 additional claims were map designated to consolidate the Tête Nord property toward the northeast. This brings the total number of claims subject to the partnership with RTEC to 1,286 claims covering a surface area of approximately 746 square kilometres.

About the Tête Nord Ni-Cu property

The Tête Nord property covers mafic and ultramafic rocks of the La Bostonnais Complex north of La Tuque, which hosts the former Lac Edouard mine that historically produced 50,000 tonnes grading 1.50% Ni and 0.50% Cu (Source: SIGEOM NTS sheet 31P09).

This property hosts a few mineral occurrences, including the Savane showing located approximately 25 kilometres south of the former Lac Edouard mine. This Ni-Cu showing was discovered by prospecting in 1995 when grab samples collected in a pyroxenite yielded historical values of 1.80% Ni and 0.20% Cu. Another grab sample from a subcropping boulder also yielded grades of 1.98% Ni and 0.46% Cu about 250 metres north of the Savane showing (Source: SIGEOM NTS sheet 31P07; GM55352).

Cautionary statements:

Note that grab sample grades may not be representative of mineralized zones.

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

Mineralization occurring at the former Lac Edouard mine is not necessarily indicative of mineralization that may be found on the Tête Nord property held by Midland.

Quality Control

Drill core samples were sent to ALS Thunder Bay for preparation and ALS Vancouver for analysis. Samples were prepared by the RIORCK package where the entire sample is crushed to 70% less than 2mm using a Boyd crusher-splitter combination, then 1kg of material is pulverized to better than 85% passing 75 microns. This method includes between-sample washes on both the crushers and pulverizers. The samples were analyzed for a full element suite using lithium borate fusions (ME-ICP06 and ME-MS81), four acid and aqua regia digestions (ME-MS61L) and ME-MS41L), S and C by induction furnace (ME-IR08) and Au-Pt-Pd by an ultralow detection 30g fire assay (PGM-MS23L). The MDLD0015 batch of 114 samples included 8 CRMs and 13 blanks, and 4 core duplicates for a QC insertion rate of 28%. The certified reference materials were in-house standards CL-LG, CL-HG and EA-M, all independently manufactured and independently certified. ALS included laboratory QC of a range of blank and CRM materials, and 16 RTX samples were analyzed twice as pulp duplicates.

About Midland

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 RTEC, BHP Canada Inc., Barrick Gold Corp., Wallbridge Mining Company Ltd, Probe Gold Inc., Agnico Eagle Mines Limited, Osisko Development Corp., SOQUEM Inc., Brunswick Exploration 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.

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: 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.

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