Midland Signs a Memorandum of Understanding with Altius Resources Inc. in the James Bay Region and Provides an Update on Exploration Work
MONTREAL, QUEBEC--(Marketwired - May 31, 2017) - Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to announce the execution of a Memorandum of Understanding with Altius Resources Inc., a wholly owned subsidiary of Altius Minerals Corp. ("Altius") (TSX:ALS), whereby Midland and Altius will combine their efforts to jointly explore the remarkable gold potential of the extensive James Bay region.
During the winter of 2017, Midland and Altius combined their expertise and databases to generate new gold exploration targets in the James Bay region. The targeting approach developed by Midland and Altius consists of applying new metallogenic concepts for gold in underexplored areas and utilizing new public geoscience surveys. This new data has enhanced the broader geological knowledge and recognition of mineral potential allowing for the identification of previously untested prospective areas. The first four exploration projects totalling 266 claims have been selected (Elrond, Gondor, Minas Tirith, and Isengard) and occur along the prolific contact zone between the La Grande and Opinaca subprovinces. This contact zone is the most important gold metallotect in the James Bay region and hosts a number of major gold deposits and occurrences (Éléonore, La Grande South, Cheechoo, Orfée, Marco, etc.). The location of this important regional structure has recently been redefined based on new government geological mapping and magnetics surveys in various parts of the region. The four projects host significant anomalies in gold and gold pathfinder elements in samples of lake sediment, till, and/or rocks from a combination of government and archived historical industry work.
The first work program involving reconnaissance mapping, prospecting and till sampling will begin in late June 2017. A joint budget of approximately $500,000 is allocated and Midland will be project manager.
About Altius
Altius's diversified royalties and metal streams generate revenue from 14 mines operating in Canada and Brazil that produce copper, zinc, nickel, cobalt, precious metals, potash, and thermal (electrical) and metallurgical coal. The portfolio also includes numerous predevelopment-stage royalties covering a wide spectrum of mineral commodities and jurisdictions. Altius also holds a large portfolio of exploration-stage projects, which it has generated for deal making with industry partners in order to generate third-party financing, equity and minority interests, as well as new royalty interests. Altius has 43,335,654 shares issued and outstanding, trading on the Toronto Stock Exchange in Canada. Altius is part of the S&P/TSX Global Mining Index.
About Midland
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements, base metals and rare earth elements. Midland is proud to count on reputable partners such as Altius Resources Inc., Agnico Eagle Mines Ltd., Teck Resources Ltd., IAMGold Corp., Osisko Mining Inc., SOQUEM INC., Japan Oil Gas and Metals National Corporation, 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.
This press release was prepared by Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101.
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.
Contact
Gino Roger
President and Chief Executive Officer
450 420-5977
450 420-5978
info@midlandexploration.com
www.explorationmidland.com
