Midland Issues an Update on Its Activities in Quebec and Identifies Several New Exploration Targets

MONTREAL, Oct. 27, 2021 - Midland Exploration Inc. ("Midland") (TSX-V: MD) is pleased to issue an update on its latest exploration activities across Quebec. Over the last few months, Midland and its partners have been very active in the field with a variety of drilling, stripping, geochemical sampling and prospecting campaigns. Several new mineral occurrences were discovered, and a number of new exploration targets were identified on various projects.

Two drilling campaigns were completed on the Casault and Gaudet-Fenelon JV projects during the summer, for a total of nearly 10,000 metres of drilling. On Casault, a new gold-bearing zone was recently identified in hole CAS-21-123 (see Midland press release dated October 21, 2021).

Overall, more than 7,000 samples were sent to the laboratory for assaying and assay results are currently pending.

Highlights:

• New Au-bearing zone on Casault returned 6.85 g/t Au over 2.0 metres in hole CAS-21-123
• 13 drill holes (5,295 metres) completed on the Casault project under option by Wallbridge
• 14 drill holes (4,483 metres) completed on the Gaudet-Fenelon JV project with Probe
• Two (2) new high-grade boulders discovered east of Mythril; 10.25 g/t Au, 8.0 g/t Ag and 7.99 g/t Au, 166 g/t Ag, 0.4% Cu, 0.07% Mo
• Prospecting programs completed in Nunavik under our Alliances with BHP and SOQUEM
• Stripping and channel sampling completed on the Golden Nest showing on Lewis
• More than 7,000 assay results pending

Abitibi region

Casault project (100% Midland - Under option by Wallbridge Mining)

A drilling program consisting of thirteen (13) drill holes totalling 5,295 metres was recently completed to test a series of NW-SE-trending structures interpreted from the magnetic survey. These targets are located a few kilometres north of the Sunday Lake Fault and west of the Martiniere and Bug Lake deposits.

Hole CAS-21-123, the first drill hole of the program, was testing a prominent NW-SE oriented structure interpreted from airborne magnetics and intersected 6.85 g/t Au over 2.00 metres from 254.50 to 256.50 metres. This new intersection 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. This NW-SE structural orientation remains untested over more than 3 kilometres on the Casault property and is known to control gold mineralization at Fenelon and Martiniere. A series of large structures of this trend also transects the Casault property. Complete assay results are pending.

Gaudet-Fenelon JV project (50% Midland - 50% Probe Metals)

Over the course of August and September, fourteen (14) drill holes totalling 4,483 metres were completed to test induced polarization anomalies coinciding with biogeochemical anomalies and structures interpreted from the magnetic survey. Assay results are pending.

La Peltrie project (100% Midland - Under option by Probe Metals)

On the La Peltrie project, three (3) induced polarization grids were surveyed this summer to cover biogeochemical anomalies identified along the perimeter of a syntectonic intrusion. The final results and interpretation of the three surveys are pending. A follow-up campaign is in preparation for 2022.

Samson project (100% Midland)

A black spruce bark biogeochemistry survey was conducted in the winter of 2021 in the vicinity of the new high-grade gold discovery at Golden Delilah, which graded up to 99.1 g/t Au over 0.40 metre (DDH SAM-20-10; 106.45-106.85 m) and 23.0 g/t Au over 1.05 metres (DDH SAM-20-15; 317.10-318.15 m). This biogeochemistry survey identified a new gold anomaly located approximately 2 kilometres southeast of the Golden Delilah showing. This new area has never been drill-tested and is located near the western contact of a felsic pluton, where identified gold anomalies are aligned along structures mainly trending NW-SE and N-S.

Adam project (100% Midland)

In the spring of 2021, a black spruce bark biogeochemistry survey covering the entire Adam property was completed. The results highlighted several areas with anomalous Au, As, Cu and Zn values, some of which are located along the same stratigraphic level as the B26 deposit, i.e., just north of the regional fault marking the contact between the Enjalran and Brouillan groups. In addition, several of these anomalies coincide with new untested helicopter-borne VTEM-type electromagnetic anomalies.

Mistaouac project (100% Midland)

A black spruce bark biogeochemistry survey was completed to cover the entire property. Several anomalies were identified, one of which is of particular interest along the contact of the Orvilliers pluton. This kilometre-scale anomaly is characterized by elevated values in Au, Ag, Cu, Mo, Sb and Te.

Lewis project (100% Midland)

Following the discovery made this past summer by prospecting at the Golden Nest showing, where grab samples yielded grades of 10.2 g/t Au and 2.1 g/t Au, mechanical stripping and channel sampling were completed in September. Approximately 50 samples are currently in the laboratory and assay results are pending.

Patris project (100% Midland)

New exploration targets were identified following a new lithogeochemical interpretation of the entire property. These new targets include the depth extension of drill holes PAT-15-05 and PAT-16-08, which identified an extensive hydrothermal alteration zone (Au-Ag-Pb-Mo-Te) more than 80 metres wide. In addition, two new target areas associated with Camflo-type alkaline intrusions were identified near the La Pause Fault, where turbidites of the Kewagama Group are in contact with volcanic rocks of the Malartic Group.

James Bay region

Mythril and Mythril Regional projects (100% Midland)

Over the course of August, a prospecting campaign led to the discovery of two new high-grade boulders on the Chisaayuu claim block of the Mythril Regional project. These gold-bearing boulders are located approximately 75 kilometres east of the Cu-Au-Ag-Mo Mythril zone, where the 3D model is currently being updated to include the results of the 2021 drilling program. These results include hole MYT-21-38 where 0.59% Cu, 0.05 g/t Au, 1.87 g/t Ag and 0.025% Mo over 28.50 metres from 56.50 to 85.00 metres, including 1.02% Cu, 0.09 g/t Au, 2.62 g/t Ag and 0.048% Mo over 10.50 metres from 56.50 to 67.00 metres, was obtained.

The two mineralized boulders discovered this summer on Chisaayuu yielded values of 10.25 g/t Au, 8.02 g/t Ag (in Boulder 1), and 7.99 g/t Au, 166 g/t Ag, 0.4% Cu and 0.07% Mo (in Boulder 2). A till sampling program is in preparation for the summer of 2022, as a follow-up and to locate the source of the boulders.

Galin?e project (100% Midland)

Prospecting work carried out in August on the Galin?e gold project identified several new gold-bearing boulders that yielded values in grab samples up to 1.43 g/t Au, 1.40 g/t Au and 1.08 g/t Au south of the Elsa showing. Other boulders were also discovered approximately 2 kilometres further west, grading up to 0.96 g/t Au and 0.50 g/t Au (grab samples). Several induced polarization anomalies remain unexplained to the north of these gold-bearing boulders.

Elrond project (100% Midland)

The final results of the 80 till samples collected over the summer, southwest of Harfang Exploration Inc.'s Serpent gold project, are pending.

Nunavik region

Ni-Cu Alliance with BHP in Nunavik

A three (3)-week prospecting program was completed in September and October under the Ni-Cu Alliance with BHP. This program was mainly designed as a ground follow-up of VTEM-type electromagnetic anomalies identified during the summer 2021 survey. More than 100 samples were collected, and assay results are pending.

Alliance with SOQUEM in the Labrador Trough

During the summer of 2021, two phases of prospecting totalling three weeks each were conducted in partnership with SOQUEM under the Labrador Trough Alliance. More than 900 samples were collected, and assay results are pending.

Cautionary statements

• Grab samples are selective by nature and reported values are not necessarily indicative 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 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.

Exploration program design and interpretation of results on Galinee and Chisaayuu projects is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks with every 20 samples. Rock samples on the project are assayed for gold by standard 30-gram fire-assaying with inductively coupled plasma atomic emission spectroscopy (ICP-AES; Au-ICP21) or gravimetric finish (Au-GRA21) at ALS Minerals laboratories in Vancouver, British Columbia. All samples are also analysed for multi-elements, using four-acid ICP-AES method (ME-ICP61), also at ALS Minerals laboratories in Vancouver, British Columbia. Samples that exceed 1% copper, zinc, molybdenum or nickel are reanalyzed by four-acid ICP-AES 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 Canada Inc., Probe Metals Inc., Wallbridge Mining Company Ltd., 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.

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.

16 photos accompanying this announcement are available at:

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