Midland Exploration Inc. · TSXV:MD
Midland Exploration — Investor Presentation (May 2024)
48 slides from Midland Exploration's investor presentation, May 2024
Slide 1: The Next Major Discoverer in Quebec
The Next Major Discoverer in Quebec May 2024 Corporate Presentation
Slide 2: Forward-Looking Statements
Forward-Looking Statements • Safe Harbour Statement Certain statements in this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. Such forward-looking statements involve known and unknow
Slide 3: Midland Exploration Summary
Midland Exploration Summary Prospect Generator / Joint-Venture Model; Quebec focus, exploring for gold and critical minerals (Ni-Cu-Li); 86.9 million shares outstanding; Management: 15%, Institutions: 45%, Retail: 40% 93.1 million shares fully diluted; No debt, $6.8 million in cash in the treasury;
Slide 4: Share Structure and Financial Information
Share Structure and Financial Information Share Ownership Structure Share Capitalization BHP Common Shares Outstanding (basic) 86,870,758 4.8% Management & Insiders Options 6,260,000 14.7% Fully-Diluted Shares Outstanding 93,130,758 Retails 40% Adrian Day Asset Current Assets & Revenue ($CAD) Manage
Slide 5: Strong Management Expertise
Strong Management Expertise JEAN-PIERRE JANSON GINO ROGER Chairman and Director CEO and Director INGRID MARTIN PAUL ARCHER Chief Financial Officer Director LEGAL ADVISORS Lavery ANNIE DUTIL Director Technical Team - JF Larivière (Chief Geologist) CONSULTANTS - Richard St-Cyr (Exploration Director) J
Slide 6: Good Quality Partners Since 2006 !
Good Quality Partners Since 2006 ! New Strategic Alliance 19 Historical Options Agreements ➢ BHP : Ni Alliance ➢ SOQUEM (3) : Gatineau Zn, Casault/Jouvex, Vermillon ➢ SOQUEM : Ni-Cu-Au Alliance ➢ Altius : James Bay Active Option Agreement Travaux d’exploration historique ➢ IAMGOLD : Heva ➢ Rio Tinto
Slide 7: Midland Recent Highlights
Midland Recent Highlights New option agreement with Rio Tinto on some of our James Bay lithium projects ($65.5M); New option agreement with Barrick on Patris gold project ($17.5M); New lithium discoveries with Rio Tinto and Brunswick on our Galinée and Elrond projects; New Cu-Au discovery on La Pelt
Slide 8: 2023 Fiscal Budget Versus 2024
2023 Fiscal Budget Versus 2024 2022-23 Budget 100% Midland $ 3,919,599.00 2022-23 Budget Partners $ 10,576,965.00 2022-2023 Total Budget $ 14,496,564.00 2023-24 Budget 100% Midland $ 3,025,000.00 2023-24 Budget Partners $ 16,835,000.00 2023-2024 Total Budget $ 19,860,000.00
Slide 9: Drilling Statistics for Fiscal 2024 – Forecast
Drilling Statistics for Fiscal 2024 – Forecast Project (Metres) Oct-Dec 23 Jan-Mar 24 Apr-Jun 24 Jul-Sept 24 Total Casault Option 4,000.0 4,000.0 La Peltrie Option 3,000.0 3,000.0 Rio Tinto Tete Nord 800.0 900.0 1,700.0 Patris RC 5,000.0 5,000.0 Lewis 800.0 800.0 Rio Tinto BJames 5,000.0 5,000.0 10,
Slide 10: Midland Active Projects Location
Midland Active Projects Location Midland Willbob (Au) Midland / NMEF (Ni-Cu-Co) Midland SOQUEM (Cu-Au-Zn) Midland / BHP (Ni-Cu-Co) Midland / Agnico Eagle (Au) Midland / Wallbridge (Au) Midland / Probe Gold (Au) Midland / Rio Tinto (Li) Midland / Barrick (Au) Midland / Critical Elements (Li) et Bruns
Slide 11: Abitibi Midland's Projects
Abitibi Midland’s Projects QUEBEC Midland / Abitibi Au Abitibi Gold Belt Montréal 11
Slide 12: Abitibi Geology – Work in Progress
Abitibi Geology – Work in Progress Wallbridge – Option Casault Nomans 100% Midland Kenorland / Newmont Option Sonic Drilling Mag HR MARTINIERE Jeremie DETOUR LAKE BUG LAKE FENELON / TABASCO Prospecting Casault Wallbridge Opt Fleuribleu upcoming Samson Nomans ZONE 58N Lower Détour Fault Gaudet-Fenelo
Slide 13: Barrick Patris – VTEM + Prospecting August 2023
Barrick Patris – VTEM + Prospecting August 2023 13 13
Slide 14: Intrusion (3D and structural geology)
Intrusion (3D and structural geology) Structural Legend Foliation Cleavage Dyke Foliation dipping to SW Vein Foliation dipping to NE Stretching lineation • Dominant stretching lineation to 48→268 defining elongation of modeled intrusion 500 m 14
Slide 15: Drill for Till Sonic Program – Winter 2024
Drill for Till Sonic Program – Winter 2024 Efficient screening of property using tracked Sonic rig Drill for till holes 151 holes for 5,200m Fault 115 holes for 4,000m on public land N Granodiorite Esker 36 holes for 1,200m on private land intrusion Bogs Permit delay for private land (submitted July
Slide 16: Abitibi Geology – La Peltrie Discovery Location
Abitibi Geology – La Peltrie Discovery Location New Discovery 6.85 g/t Au / 2 m (ddh) New Discovery Kenorland / Newmont Option Jeremie MARTINIERE BUG LAKE up to 99.1 g/t Au / 0.4m (ddh) DETOUR LAKE FENELON / TABASCO Casault Wallbridge Opt Fleuribleu Nomans ZONE 58N Lower Detour Fault Gaudet-Fenelon
Slide 17: Detour Trend – La Peltrie New Discovery Location
Detour Trend – La Peltrie New Discovery Location Wallbridge Casault Option ▪ $ 5 M / 4 years ▪ $750,000 1st year Midland-Wallbridge ▪ Jeremie$600,000 Cash Payments New Discovery ▪ Expenditures Sept.30 : $1.9 M up to 6.85 g/t Au / 2.0 m WALLBRIDGE MARTINIERE BUG LAKE FENELON GOLD DETOUR LAKE Ind Res.
Slide 18: 2023 Follow-up Drilling on Cu-Au-Ag-Mo Discovery
2023 Follow-up Drilling on Cu-Au-Ag-Mo Discovery LAP-23-20 0.12 % CuEq* over 400.2 m Including 0.56 % CuEq* over 13.2 m LAP-22-12 & 12EXT (Total) 0.20 % CuEq* over 513.5 m OPEN LAP-23-21 0.15 % CuEq* over 66.0 m and 0.19 % CuEq* sur 22 m LAP-22-12 (Discovery Hole) 0.13 % Cu (0.21 % CuEq*) over 345.5
Slide 19: Midland-Probe La Peltrie New Cu-Au-Ag-Mo Discovery
Midland-Probe La Peltrie New Cu-Au-Ag-Mo Discovery LAP-23-18 0.15 % CuEq* over 363.0 m Including 1.33 % CuEq* over 9.5 m 19 19
Slide 20: Midland-Probe La Peltrie New Cu-Au-Ag-Mo Discovery
Midland-Probe La Peltrie New Cu-Au-Ag-Mo Discovery LAP-23-18 0.15 % CuEq* over 363.0 m Including 1.33 % CuEq* over 9.5 m 180m-186m (Picture) 20 20
Slide 21: Wallbridge Sonic Drilling – Grains of Gold Count
Wallbridge Sonic Drilling – Grains of Gold Count Glacial Direction Interpreted intrusion and possible source grains of gold New anomalie Au (Tills) Up to 97 grains of pristine gold 21 21
Slide 22: James-Bay Midland's Projects
James-Bay Midland’s Projects QUÉBEC Midland James-Bay Abitibi Gold Belt Montréal 22
Slide 23: Midland – Rio Tinto New Option for Lithium
Midland – Rio Tinto New Option for Lithium Granite Mythril East, Chisaayuu & Corvette Metasediment • LiDAR completed Galinée Metavolcanic New Li Discovery Tonalitic Unit • LiDAR completed Gneiss • MAG-RAD completed Corvette Li pegmatites (Patriot Battery Newmont Metals) Éléonore Gold Mine New Li Dis
Slide 24: James Bay: New Lithium Discoveries
James Bay: New Lithium Discoveries Lithium Occurrences Granite New Discovery Tilly South Metasediment Midland/Rio Tinto Metavolcanic Option Tonalitic Unit Midland Chisaayuu project Gneiss Main Road Rio Tinto Option Mythril East (East block) New Discovery Mythril project Mirage Lasalle project Brunsw
Slide 25: Galinée New Lithium Discovery
Galinée New Lithium Discovery Lithium Showing Granite Metasediment New Discovery Metavolcanic Midland/Rio Tinto Option Galinée project Tonalite Iceberg Spodumene Gneiss Pegmatites Dykes Iceberg South-West Up to 7.2% Li2O New Discovery Grab Adina Li (Winsome) up to 3.6% Li2O, 58.5 Mt at 1.12% Li2O in
Slide 26: Galinée Iceberg New Lithium Discovery
Galinée Iceberg New Lithium Discovery 3.84 % Li2O 6.99 % Li2O 6.29 % Li2O 3.74 % Li2O 5.39 % Li2O 4.93 % Li2O 3.27 % Li2O 3.27 % Li2O 5.89 % Li2O 4.98 % Li2O 5.84 % Li2O 7.21 % Li2O 26 26
Slide 27: Iceberg Spodumene Showing
Iceberg Spodumene Showing 27 27
Slide 28: Iceberg Spodumene Showing
Iceberg Spodumene Showing 28 28
Slide 29: South & Southwest New Showings
South & Southwest New Showings Iceberg Spodumene Pegmatites Dykes Up to 7.2% Li2O Iceberg South-West Grab up to 3.6% Li2O, Float with 4.1 Li2O Iceberg South Grab subcrop 0.7% Li2O 29 29
Slide 30: South Showing Southwest Showing
South Showing Southwest Showing 30 30
Slide 31: Midland – James Bay Li Projects and Brunswick Option
Midland – James Bay Li Projects and Brunswick Option Midland/Brunswick Mythril Option Granite Metasediment Midland/Brunswick Metavolcanic Elrond Option Tonalitic Unit New Arwen Discovery Gneiss Spodumene-bearing Pegmatites Corvette Li pegmatites (Patriot Battery Metals) New Li Discovery Adina (Winso
Slide 32: Arwen Location – New Spodumene-bearing Pegmatites
Arwen Location – New Spodumene-bearing Pegmatites Granite Metasediment Metavolcanic Tonalitic Unit Gneiss 100% Midland Elrond Brunswick Option Midland/Brunswick Elrond Option New Arwen Discovery Spodumene-bearing Pegmatites 32 32
Slide 33: Elrond-Arwen New Spodumene-bearing Pegmatites
Elrond-Arwen New Spodumene-bearing Pegmatites Helicopter 33 33
Slide 34: Labrador Trough Midland's Projects
Labrador Trough Midland’s Projects Midland / Willbob (Au) Midland / FEMN (Ni-Cu-Co) Midland / SOQUEM (Ni-Cu-Au) Midland / BHP (Ni-Cu-Co) Abitibi Gold Belt 34
Slide 35: Midland BHP Nunavik Alliance Ni-Cu-Co
Midland BHP Nunavik Alliance Ni-Cu-Co 2024 Exploration Plan ▪ High-definition VTEM surveys ▪ Mapping and prospecting Strategic Alliance Ni-Cu-Co Midland-BHP Midland-NMEF JV Ni-Cu $2.0M additional for the Nachicapau 2024 Generative Phase 2022-23 New Cu-Au Papavoine Discovery Soissons Ni-Cu-Co 100% Mi
Slide 36: July 2022 – BHP Alliance – Zone 22
July 2022 – BHP Alliance – Zone 22 New Soisson intrusion 0.81% Ni – 0.21% Cu 36 36
Slide 37: 2022-2023 Field Work Results
2022-2023 Field Work Results Area of historical high grade Zn boulders up Legend to 17.50 % Zn (#43390439) Nachicapau Field work Lake 2023 : New Rock samples 2022-2023 Cu ppm deformation zone 2023 Discovery 2023 Discovery 3.33 % Cu, 3.98 g/t Au 0.28% Cu, 0.35 g/t Au Boulder mineralized bornite vein
Slide 38: Nachicapau : 2022 Rock Sampling Work
Nachicapau : 2022 Rock Sampling Work (a) Outcrop showing malachite – bornite veins (b) malachite – bornite veins at surface C878152: 40.8g/t Au 38
Slide 39: Midland Grenville Projects Location
Midland Grenville Projects Location Midland / Rio-Tinto (Ni-Cu) ABITIBI GOLD BELT 39
Slide 40: Tête-Nord Project – Santos Location
Tête-Nord Project – Santos Location Lac Curé Ni-Cu Cabouron Cu Midland/Rio Tinto Option Kiskissink Ni-Cu Midland 100% New Zone Ni-Cu Santos 2023 0.45% Ni, 0.18% Cu on 10.37 m (MDLD0015) Rio Tinto 100% Lac Matte Ni-Cu Ghislaine Cu Including : 1.1% Ni, 0.71% Cu on 2.68 m Other claims 0.33% Ni, 0.12% C
Slide 41: Santos Ni-Cu Zone – Mineralized Samples
Santos Ni-Cu Zone – Mineralized Samples 41 41
Slide 42: Santos Ni-Cu Zone – MDLD0015 (21-24m)
Santos Ni-Cu Zone – MDLD0015 (21-24m) 42 42
Slide 43: Santos Ni-Cu Zone – MDLD0015 (34-38m)
Santos Ni-Cu Zone – MDLD0015 (34-38m) 43 43
Slide 44: New Drilling Target at Santos
New Drilling Target at Santos New target MDLD0015 0.45% Ni, 0.18% Cu on 10.37 m Ni-Cu Santos Including : 1.1% Ni, 0.71% Cu on 2.68 m MDLD0015 Palmeiras Showing Favorable N-S structure MDLD0018 Next ddh 4 ddh; 1 250m MDLD0018 New target at depth 0.33% Ni, 0.12% Cu on 39.73 m EM plate models Including
Slide 45: Coming Up for Midland Exploration
Coming Up for Midland Exploration Drilling Lewis Q1-2024: Test Au showings on Red Giant, Golden Nest and extensions; Drilling Casault WM Q1-2024: New Au anomalies (tills) and other targets; Drilling La Peltrie Probe Q2-2024: Cu-Au-Ag-Mo discovery, potential west trend; Drilling JB RTEC Q2-2024: New
Slide 46: Analysts and Newsletters Coverage
Analysts and Newsletters Coverage 46 46
Slide 47: Why Choose Midland Exploration
Why Choose Midland Exploration Strong management and technical team; Excellent share structure and well-funded with more than $6.8M in cash in the treasury. More than $19.8M (MD $3.0M – Partners $16.8M) in exploration in 2024 with min. of 25,000 metres of drilling; $6.6M private placements with BHP
Slide 48: Thanks - Merci!!
Thanks - Merci!! 48 www.midlandexploration.com www.midlandexploration.com
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