Midland Exploration Inc. announced its summer 2024 exploration program under the Strategic Alliance with SOQUEM Inc. for exploration in the Labrador Trough in Nunavik. With a joint budget of $1 million, this program is the continuation of work carried out since 2021 and aims to identify new mineralized areas in this vast territory with high-discovery potential. This program will focus on high-grades copper-gold occurrences in the Nachicapau area as well as regional targets for various commodities.

Helicopter-supported fieldwork will begin in mid-June and will consist of geochemical rock and soil sampling along with a drone-based magnetic survey. Follow-up on the Cu-Au system in the Nachicap Au area, where mineral occurrences over an area of 7 km2 show grades up to 25.6% Cu, 4.9 g/t Au and 162 g/t Ag, and in channel sample up to 1.49% Cu, 0.54 g/t Au and 11.4 g/t Ag (1.93% CuEq) over 4.0 metres; Soil survey (B horizon) totaling approximately 500 samples as well as rock sampling; Drone-based magnetic survey totaling 770 km on the Nachicapau project; Rock sampling on regional targets generated as a result of compilation work, sampling, and a large-scale lithogeochemistry study conducted in 2022 and 2023. Other prospective areas will also be targeted for a rock sampling campaign to follow up on 2023 results, focusing on orogenic mineralization and on the best VMS targets (Cu-Zn-Co-Ag-Au/Zn-Pb-Cu-Ag-Au) generated as a result of work conducted from 2021.

Rock and soil samples from the project are analyzed at Actlabs laboratories in Ancaster, Ontario, by ICP-MS with four-acid digestion for metals and by standard fire assay on 30-gram fractions with atomic absorption finish for gold. 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. The Strategic Alliance enables Midland and SOQUEM to combine their efforts and expertise to jointly explore the excellent potential for gold and strategic minerals of the vast and underexplored Labrador Trough.

The area of interest defined under the Alliance is located in Nunavik. Geologically, it covers the Labrador Trough, the Rachel-Laporte Zone and the Kuujjuaq Domain. The area of interest extends from Schefferville in the south up to approximately 100 km northwest of Kangirsuk.

This agreement calls for investments in exploration reaching up to $5 million over a period of four (4) years, with a firm commitment of $2 million within the first two (2) years of the agreement. In March 2023, a joint venture agreement between Midland and SOQUEM was executed to define the terms governing exploration and development work on the mining claims forming the Nachicapau property. In 2024, the Alliance continues and exploration work resumes in the Labrador Trough and on the Nachicap Au project with a joint annual budget of $1 million (50% Midland and 50% SOQUEM).