Midland Exploration Strikes Gold at Saruman Projects

Midland Exploration Inc. reported the discovery of copper-gold-molybdenum-silver (Cu-Au-Mo-Ag) occurrences on its Saruman project. Located in the Eeyou Istchee James Bay region, approximately 75 km north of the Troilus Gold Corp. copper-gold (Cu-Au) project, the Saruman project was acquired by map designation in November 2023. It is wholly owned by Midland and comprises 121 claims spanning 64 square kilometers.

Highlights

• A high-density lake-bottom sediment survey published in 2023 by the Ministère des Ressources Naturelles et des Forêts du Québec (MRNF) revealed strong copper anomalies, particularly concentrated within a 5 by 3 km area.
  • 7 copper anomalies that, according to statistical processing, are above the 99.5th percentile
  • Eight more copper anomalies that, according to statistical processing, are above the 97th percentile
• Identification of Cu-Au-Mo-Ag occurrences on outcrop (grab samples):
  • 0.32 % Cu, 0.35 g/t Au, 13.8 g/t Ag (sample L880271);
  • 0.12 % Cu, 0.1 g/t Au, 7.1 g/t Ag (sample L880270);
  • 0.12 % Cu, 0.06 g/t Au, 2.05 g/t Ag, 0.39 % Mo (sample L880272);
  • 0.11 % Cu, 0.03 g/t Au, 1.62 g/t Ag (sample L880273);
• Project situated in a largely uncharted region with a poorly defined geological context;
• The extent of copper anomalies in lake-bottom sediments is still unknown due to the lack of mineralization seen on outcrops

In November 2023, a lake sediment geochemistry survey by MRNF pinpointed significant copper anomalies, with fifteen anomalous samples (>95^th percentile) concentrated within a 5 by 3 km area. During reconnaissance in the summer of 2024, Midland teams collected grab samples from outcrops, yielding values of 0.32 % Cu, 0.35 g/t Au, 0.39 % Mo, and 13.8 g/t Ag. These values were found in tonalite rock and included disseminated, veinlet, and fracture-filling chalcopyrite, pyrite, and molybdenite.

To date, Midland has prospected only two outcrop areas, each spanning several hundred meters in diameter. Following these findings, 71 additional claims were mapped, expanding Midland’s land position to 121 claims in the region.

The scale of copper anomalies in lake-bottom sediments suggests that the mineralization discovered so far may only represent part of a potential Cu-Au-Mo-Ag system. Further prospecting and geological mapping are scheduled for 2025 to gather additional data.

The Saruman project lies within the Opatica geological Subprovince, specifically in the Theodat Complex, an assemblage of gneissic tonalites and undifferentiated tonalitic gneisses that covers vast portions of the area and remains largely unexplored. MRNF data indicate that no prior exploration has been conducted in the project area.

Copper Anomalies in Lake-Bottom Sediments

The MRNF's statistical processing of spatial regression (regression residuals and residual percentiles) yielded the lake sediment copper anomalies that are the subject of this press release. A detailed description of the methodology and results can be found in SIGEOM's reports RP 2023-02 and RP 2024-04.