Midland, in Partnership with RTEC, Intersects Several New Spodumene Pegmatites During the 2024 Drilling Program on the Galinée Project

MONTREAL, Oct. 24, 2024 - Midland Exploration Inc. ("Midland") (TSX-V: MD), in partnership with Rio Tinto Exploration Canada Inc. ("RTEC"), is pleased to announce preliminary results from the first drilling campaign for lithium on the Galinée project, and results from surface prospecting on Galinée, Wookie, and Shire projects. The 2024 drilling campaign's main objective was to test the 2023 Iceberg, Iceberg South and Iceberg South-West lithium showings (see press release by Midland dated January 16, 2024) while prospecting aimed to find new showings. This press release reports results from the first thirteen (13) drill holes of the 2024 campaign out of a total of twenty-eight (28). The Galinée project is located approximately 5 kilometers east of the Adina lithium deposit held by Winsome Resources ("Winsome"), is wholly owned by Midland, and is subject to an option agreement signed with RTEC in June 2023 (see press release by Midland dated June 14, 2023) and amended in April 2024 (see press release by Midland dated April 23, 2024).

Highlights:

• On Galinée, best results from the first thirteen (13) drill holes out of twenty-eight (28):
  • 1.38% Li₂O over 37.86 meters, including 1.88% Li₂O over 21.35 meters (TLIB0007);
  • 1.94% Li₂O over 20.97 meters, and also 2.47% Li₂O over 11.52 meters (TLIB0006);
  • 1.49% Li₂O over 26.50 meters, including 1.85% Li₂O over 19.20 meters (TLIB0002);
  • 0.89% Li₂O over 33.30 meters, including 1.87% Li₂O over 16.70 meters (TLIB0004);
• On Galinée, at least seven (7) meter to decameter-scale spodumene pegmatites were intersected during the 2024 drilling campaign, which remain open and further to be tested;
• On Galinée, two (2) new lithium showings were identified in 2024,White Lightning and Snow Fox, with selected grab samples up to 4.62% Li₂O (outcrop) and 4.19% Li₂O (boulder) respectively;
• On Wookie, identification of the Grogu spodumene pegmatite showing.

Galinée 2024 Drilling Program

The 2024 drilling program on Galinée consisted of twenty-one (21) diamond drill holes and seven (7) reverse circulation drill holes totaling 6,284.86 meters, out of which 819.92 meters were reverse circulation drilling. Assay results from the first thirteen (13) diamond drill holes have been received, while the results for the remaining fifteen (15) drill holes are currently pending and will be published in an upcoming press release once made available. The best results from the first thirteen (13) holes are summarized in the table below.

The objectives of the 2024 drilling campaign were to test the 2023 Iceberg Showing area with diamond drilling while using reverse circulation drilling to test conceptual, prospecting and geophysical targets. The drilling campaign mainly focused on the Iceberg showing and also the Iceberg South and Southwest showings, which were internally renamed as the White Stripes and Surge Showings (these names are used herein). New sampling on the White Stripes showing returned 6.37% Li₂O on a selected grab sample. Surface geological mapping combined with drilling has identified a series of at least seven (7) meter to decameter-scale spodumene pegmatite bodies. The highlight result thus far returned core length interval composites of 1.38% Li₂O over 37.86 meters, including 1.88% Li₂O over 21.35 meters, in hole TLIB0007.

Preliminary models show that the spodumene pegmatite bodies dip shallowly, typically less than 30 degrees, and are often observed as stacked sets in the drill holes - the drilling commonly intersected multiple mineralized pegmatite bodies with variable thickness. Preliminary structural studies and 3D modelling suggest that these pegmatites could have sigmoidal geometries. Mineralogical studies show that the major lithium phase at Iceberg is spodumene with minor muscovite and cookeite alteration. Minor petalite is present and holmquistite is often present in the amphibolitic country rock adjacent to pegmatites. The spodumene pegmatite bodies remain open along strike and to depth and more drilling will be necessary to more precisely determine their geometry and extension.

Budget approval is currently in discussion and pending for the next phase of drilling. Early metallurgical tests are also being evaluated on select core sections using LIBS scanning to identify and quantitatively determine grain size and the lithium mineralogy.

Galinée 2024 Prospecting Program

Project scale surface prospecting was conducted in parallel to the drilling campaign and was successful in identifying two (2) new lithium showings. The Snow Fox showing, located approximately 1.5 kilometers southeast of Iceberg, consists of a series of angular and metric size spodumene pegmatite boulders interpreted to be locally sourced. No pegmatite outcrop was observed at the surface to-date, but boulder selected sampling returned up to 4.19% Li₂O and nearby amphibolitic outcrops contain holmquistite. The White Lightning showing consists of a coarse grained spodumene-bearing pegmatite with an approximate 7 by 30-meter footprint located approximately 1.5 kilometers east of the Iceberg area. Selected grab sampling returned up to 4.62% Li₂O. Preliminary structural observations on the outcrop suggest that the pegmatites herein have intruded along a shear zone in areas of dilatation and originating from a pegmatitic fluid source at depth.

Wookie and Shire 2024 Prospecting Program

The first prospecting campaign for lithium on Wookie successfully identified a new lithium occurrence. The Grogu Showing is identified on a claim cell located between the two main blocks of the Wookie project and consists of a relatively steeply dipping 600 meters long by 1-32 meters wide pegmatite body containing local spodumene. Channel sampling was conducted to better understand the grade and its distribution. Results are still pending.

On the Shire Project, preliminary prospecting and geological mapping located an approximately 1,000 x 350 meters size pegmatite locally containing what appears to be an altered spodumene pod. Lithium-bearing phases have yet to be identified.

About the Galinée Project

The Galinée project is located approximately 5 kilometers due east of the Adina deposit (mineral resource estimate of 77.8 MT at 1.15% Li₂O, see press release by Winsome dated May 28, 2024) held by Winsome. This deposit is located at the contact between amphibolites of the Trieste Formation to the south and felsic intrusives to the north and is marked by a major structure that likely controlled the emplacement of pegmatites at Adina. The same highly favourable contact zone is present on the property over more than 7 kilometers, and the Iceberg lithium showing was discovered along this contact (see press release by Midland dated September 19, 2023).

About the Wookie and Shire Projects

The Wookie project is located about 40 kilometers north-northwest of Arcadium's Galaxy deposit. The Wookie project is underlain by a lower Amphibolite facies metamorphosed bedrock, recognized to be the most favourable metamorphic facies for lithium pegmatites worldwide. Furthermore, most of the lithium deposits in the Eeyou Istchee James Bay area are found in pegmatites emplaced within mafic volcanic or intrusive rocks units. The Wookie project covers more than twenty (20) square kilometers of mafic volcanic rocks. Several historical Quebec government rock samples of pegmatites collected close to the project have returned anomalous tantalum, cesium and rubidium values. While these samples were not analyzed for lithium, this element suite is strongly suggestive of favourable LCT (lithium-cesium-tantalum) pegmatites.

The Shire project is located within amphibolites of the Lac des Montagnes geological Group, which hosts Nemaska Lithium's Whabouchi lithium deposit about 60 kilometers southwest of Shire. The Whabouchi lithium deposit is characterized by a pegmatite intrusion assigned to the Senay granitic Suite, which also occurs on the Shire project. This project is also located along a major structure that could be critical for the emplacement of lithium-bearing pegmatites in the area (the boundary between the La Grande and Opatica geological subprovinces).

Quality Control

RTEC sampling protocols include the insertion of blanks, duplicates, and standards as such: Internal blanks were inserted at the beginning of every drill hole, or sample batch, and were inserted every 30 samples throughout. Field duplicates of ¼ cut drill cores were also inserted every 30 samples (with the parent sample immediately preceding). At least 1 CRM standard was inserted within every intersected pegmatite interval. CRM materials used included OREAS 750, OREAS 751, OREAS 753 and OREAS 999 for mineralized samples; OREAS 520 and OREAS 524 for unmineralized materials. All samples were prepared by ALS Laboratories in Thunder Bay using a preparation package whereby the entire sample is crushed to 70% less than 2-millimetre mesh size using a Boyd crusher and splitter combination. A one-kilogram split of crushed material is pulverized to better than 85% passing 75 microns mesh size. ALS internally sends all pulps to ALS Geochemistry in Vancouver for analysis.

Pegmatite materials were analyzed by a multi-method analytical package: (1) ME-MS61L four acid digest and ICP-MS multicollector multi-element analysis, (2) ME-ICP06 lithium borate fusion whole rock analysis, and (3) ME-MS81 lithium borate fusion trace element analysis. All samples reporting >4500 ppm Li are reported by both a dilution method from the four-acid digest ME-MS61L and reanalyzed by Li-ICP82b sodium peroxide fusion and ICP-AES determination.

Cautionary Statements

Grab samples are selective by nature and may not be representative of mineralized zones. Furthermore, the true thickness of mineralized intervals cannot be determined with the information currently available.

The presence of pegmatite is not necessarily indicative of lithium mineralization.

Lithium mineralization occurring at the deposits mentioned in this press release is not necessarily indicative of mineralization that may be intersected on projects held by Midland and mentioned in this press release.

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 Ltd., Electric Elements Mining 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 Midland's portfolio and generate shareholder value.

Qualified Person and Chief Geologist Jean-François Larivière, P. Geo, Ph. D, prepared this press release and verified the Galinée project data as Midland's qualified person (QP) within the meaning of National Instrument 43-101. The QP has verified the data as per clause 3.2 - given they are confidently identifying spodumene using these methods.

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.

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