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Midland Exploration Inc.: New Drill Program on Midland Exporation's Maritime Cadillac Property

^{Published on 2009-01-22 07:16:14, Last Modified on 2009-01-22 07:17:22 - Market Wire}
 

MONTREAL, QUEBEC--(Marketwire - Jan. 22, 2009) - Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to announce the resumption of drilling on its 100%-owned Maritime Cadillac Property which is currently under an option agreement with Agnico-Eagle Mines Limited ("Agnico-Eagle"). This new drilling campaign managed by Agnico-Eagle will consists in a minimum of six holes totalizing 3550 metres. The Maritime Cadillac Property is contiguous to the Lapa gold mine property (3.8 million tonnes of probable reserves grading 8.9 g/t Au and containing 1.1 million ounces of gold), which is expected to go into production by the end of 2009.

The objective of this new drilling program aims to test the lateral and depth extension of the new significant gold structures (Maritime Contact East, East and West Dyke) intersected in 2008. Hole 141-08-14B, on the Maritime Contact East structure, had returned values up to 3.30 g/t Au over 14.65 metres between 364.00 to 378.65 metres depth (approximately 6.60 metres true thickness), which included 6.11 g/t Au over 5.65 metres (approximately 2.50 metres true thickness). In the latest drilling program, two new gold-bearing structures which are associated with mineralized (pyrite-arsenopyrite) felsic to intermediate porphyry dykes were intersected to the west of the Maritime Contact East structure. These two new structures, named East Dyke and West Dyke, remain essentially untested. The West Dyke structure returned gold values of 1.85 g/t Au over 8.05 metres (6.45 metres true thickness) which included an interval grading 4.29 g/t Au over 1.50 metres at a vertical depth of approximately 58 metres. At the East Dyke structure, values up to 3.46 g/t Au over 5.50 metres (approximately 4.40 metres true thickness) had been intersected in hole 141-08-15 (see press release dated November 5, 2008).

Terms of the Exploration Agreement

Agnico-Eagle signed an option agreement on June 1, 2006, to acquire a 50% interest in the Maritime Cadillac Property by investing $1,000,000 in exploration and by making payments totalling $100,000 over a 3-year period. Agnico-Eagle will have the option to increase its undivided interest in the property from 50% to 65% over a period of 3 years, by solely financing a bankable feasibility study or by solely assuming all mining operations on the Maritime Cadillac Property, earning 1% additional interest for every $1,000,000 spent on the property (up to 15% by spending $15 million).

Quality Control

The Maritime Cadillac exploration program is conducted by Agnico-Eagle and the data is reviewed by Mario Masson, senior geologist for Midland Exploration and a Qualified Person as defined by NI 43-101. Assay samples are taken from BQ size drill core sawed in half with one half sent to a commercial laboratory and the other half retained for future reference. Assays are performed by Lab Expert of Rouyn-Noranda. Significant assay results are duplicated at the original laboratory and also at a second independent laboratory, which is ALS Chemex Chimitec of Val-d'Or.

About Midland Exploration

Midland targets the excellent mineral potential and the favourable investment climate of Quebec to make the discovery of new world-class deposits of gold, base metals and uranium. Midland is proud to count on reputable partners such as Agnico-Eagle, Soquem Inc. and Quest Uranium Corporation. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Midland is currently evaluating new opportunities and other projects in order to increase the portfolio of the Company.

This press release was prepared by Gino Roger, geological engineer and a Qualified Person as defined by NI 43-101.

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.

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.