Mr. Gino Roger reports

MIDLAND AND SOQUEM ARE PLANNING AN INDUCED POLARIZATION SURVEY ON THE MALACO MOUNTAIN COPPER-GOLD-RARE EARTH ELEMENT ZONE IN THE LABRADOR TROUGH

Midland Exploration Inc., in partnership with SOQUEM Inc., will conduct a follow-up campaign on the copper, gold and rare earth element (REE) zone discovered in 2025 on the Malaco Mountain project (Labrador Trough, Churchill province, Quebec). An induced polarization (IP) survey totalling 15 line kilometres (km) is planned in August, 2026, and will be accompanied by a ground prospecting campaign.

Highlights:

• The 2025 exploration program led to the discovery of a mineralized outcrop grading up to 31.60 per cent copper (Cu), 6.92 grams per tonne (g/t) gold (Au), 32.4 g/t silver (Ag) and 1.77 per cent REE (see news releases dated Sept. 30, 2025, and Nov. 4, 2025).
• A follow-up exploration campaign is planned with a 15 line km IP survey.

A pole-dipole survey totalling 15 line kilometres is planned to cover the mineralized outcrop discovered in 2025, the sedimentary mudstone unit and the fold axis. This geophysical program, accompanied by a prospecting program, is designed to cover the east part of the property and generate exploration and drilling targets based on geophysical, geological and geochemical criteria.

In June, 2025, during a reconnaissance campaign in the Labrador Trough, three samples collected from an outcrop graded up to 31.60 per cent Cu, 6.92 g/t Au and 0.57 per cent REE (see news release dated Sept. 30, 2025). Two transects of 10 and 13 metres (m) in length were sampled at one-metre intervals. Twenty-five grab samples were collected, 18 of which yielded grades above 0.1 per cent Cu and 10 were above 1 per cent Cu, reaching up to 27.6 per cent Cu (see news release dated Nov. 4, 2025). Gold grades between 61 and 877 parts per billion (ppb) Au were obtained, as well as values locally reaching 32.4 g/t Ag and 1.77 per cent REE (La (lanthanum), Ce (cerium)).

Mineralization occurs as stratiform horizons with chalcopyrite, pyrite, malachite, azurite and digenite disseminated parallel to bedding in a mudstone, as well as massive discordant veins associated with fractures and breccia zones cross-cutting stratigraphy. The mineralization is associated with silica, albite and carbonate alteration. Petrophysical testing conducted on massive sulphide and disseminated chalcopyrite samples revealed strong electrical contrasts, justifying the use of induced polarization.

Cautionary statements

Grab samples are selective by nature and may not be representative of mineralized zones. Mineralization occurring at deposits and showings mentioned in this news release is not necessarily indicative of mineralization that may be found on projects held by Midland and mentioned in this news release.

About the partnership with SOQUEM

The partnership 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. Executed in November, 2021, the initial agreement called for investments in exploration reaching up to $4-million over a period of four years, in addition to investments on the Nachicapau project.

In 2026, the parties have confirmed the continuation of the alliance with a joint annual exploration budget of $1-million (50 per cent Midland and 50 per cent SOQUEM) on the Malaco Mountain and Nachicapau projects.

About SOQUEM Inc.

SOQUEM, a mineral exploration company and subsidiary of Investissement Quebec, is dedicated to exploring, discovering and developing mineral resources in Quebec. SOQUEM also helps maintain strong local economies. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to guide its future actions.

About Midland Exploration Inc.

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 SOQUEM, Rio Tinto Exploration Canada Inc., BHP Canada Inc., Centerra Gold Inc., Barrick Mining Corp., Agnico Eagle Mines Ltd., Wallbridge Mining Company Ltd., Fresnillo PLC, Electric Elements Mining Corp., 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 company portfolio and generate shareholder value.

Qualified person and exploration director Richard D. St-Cyr, PGeo, reviewed and approved this news release and the Malaco Mountain project data as Midland's qualified person (QP) within the meaning of National Instrument 43-101.

We seek Safe Harbor.