Midland Completes a Magnetic Survey on Mythril-East and Targets a New Area East of Patriot Battery Metals Discovery

MONTREAL, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Midland Exploration Inc. ("Midland" or the "Corporation") (TSX-V:MD) is pleased to report the completion of high-resolution magnetic surveys ("HR Mag") on its wholly owned properties grouped under the Mythril Regional project. These properties include the Mythril-East block located along strike the Corvette pegmatite field held by Patriot Battery Metals ("Patriot") at 7 kilometres to the southwest. Patriot recently published spectacular drilling results reaching 3.34% Li₂O over 52.2 metres (see press release by Patriot dated January 30, 2023). Moreover, Patriot recently reported that their first eight (8) drill holes (CV23-105 through 112) had intersected various widths of spodumene pegmatite, ranging from approximately 8 m to 132 m (core length), and therefore have extended the strike length of the CV5 Pegmatite body an additional 400 m along strike eastwardly (see press release by Patriot dated February 6, 2023).

HR Mag survey on Mythril-East

The HR Mag survey, totalling 774 line kilometres completed on the Mythril-East block, helped better define the magnetic signatures of the geological units on the property and identified a new potentially favourable area, more than 5 kilometres in length in the southern part of the claim block. The area, which has never been explored for lithium. This new potentially favourable area is located at 7 kilometres to the northeast of the pegmatite field discovered by Patriot over the last few months on Patriot's Corvette property.

Mythril Regional Project

The HR Mag survey totalling 3,340 line kilometres, was flown at lines spaced every 100 metres and covered several claim blocks of the Mythril Regional project. Detailed interpretation of collected data is currently underway to identify other potentially favourable areas for lithium exploration.

The Mythril Regional project is a large project with several extensive claim blocks totalling 1,156 claims covering 588 square kilometres, including the Mythril-East block. On other claim blocks, compilation of historical work by Midland revealed strong evidence of Li-Be-Ta pegmatite potential. While exploring for copper in 2022, a pegmatite outcrop returned two strongly anomalous lithium values in grab samples: 0.12% Li₂O and 0.04% Li₂O. Grab samples of pegmatitic boulders in other claim blocks in the area also returned highly anomalous Li-Ta-Sn values: 0.03% Li₂O, 23 ppm Ta, 50 ppm Sn; 0.02% Li₂O, 72 ppm Ta. None of these anomalies have been followed up. These also suggest a favourable exploration potential for lithium on the Mythril Regional project, which has never been explored for lithium.

Midland is currently planning exploration programs on these projects, which will be launched over the coming weeks.

Midland has 3,814 claims totalling 1,975 square kilometres of land positions in the James Bay area and is one of the largest claim holders in the region. Four projects (Mythril Regional, Galinée, Komo and Shire) were identified as highly prospective for their lithium potential, based on striking geological similarities with adjacent lithium discoveries and compelling occurrences of lithium (Li), tantalum (Ta) and/or beryllium (Be) in historical rock sampling. It should be noted that none of these projects have been specifically explored for lithium in the past.

Cautionary statements:

Note that grades from grab samples and erratic boulders are not necessarily indicative of mineralized zones.

Mineralization occurring at the Corvette deposit is not necessarily indicative of mineralization that may be identified on properties held by Midland described in this press release.

Quality control

Rock samples from the aforementioned projects were analyzed for multi-elements by ICP-MS or ICP-ES with four-acid digestion (ME-MS61 or ME-MS81) at ALS Laboratories (Vancouver). 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.

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 BHP Canada Inc., Rio Tinto Exploration Canada Inc., 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, 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: [email protected]
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.

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.

Four figures accompanying this announcement are available at: 

https://www.globenewswire.com/NewsRoom/AttachmentNg/36b548a8-ec3b-4df0-9fee-d5abab297f39

https://www.globenewswire.com/NewsRoom/AttachmentNg/6563d8f0-6885-492d-880d-de2ea83bed56

https://www.globenewswire.com/NewsRoom/AttachmentNg/624d29cd-28e7-4bf3-96b4-c0d510dbec0b

https://www.globenewswire.com/NewsRoom/AttachmentNg/4430abcd-b772-4e6a-9cae-dd8e1d645376