Besides an additional priority IP axis which coincides with VTEM conductors at 400 metres north of drill hole CAS-12-07, other chargeability anomalies are found associated with a magnetic anomaly occurring within the granodiorite.
The Casault gold property consists in a total of 326 claims exclusively owned by Midland and covering an approximate area of 179.5 square kilometres.
Figures locating the IP target areas can be consulted at the following links:
For Figure 1 - Map of the Abitibi showing the location of the Casault project, click here: http://media3.marketwire.com/docs/AbitibiGeologyMar2013.pdf
For Figure 2 - Regional geology map of the Casault project, click here: http://media3.marketwire.com/docs/RegGeologyMar2013.pdf
For Figure 3 - Map showing the location of IP target areas, click here: http://media3.marketwire.com/docs/IPTargetsMar2013.pdf
Terms of Exploration Agreement
Osisko can earn 50% of Midland's interest in the property by spending a total of $6,000,000 in exploration work and making payments totaling $600,000 over a period of five years. Midland will be the operator during the first year of the option agreement. The 100 000$ first anniversary payment was just completed. Upon acquiring a 50% interest, Osisko will have the option during a three year period to acquire an additional 15% interest by delivering a bankable feasibility study or by solely assuming all exploration, development and mining operations on the Casault Property, earning a 1% additional interest for every $1,000,000 spent on the property (up to 15% by spending $15 million).
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 rare earth elements. Midland is proud to count on reputable partners such as Osisko Mining Corporation, Agnico-Eagle Mines Limited, North American Palladium Limited, Japan Oil, Gas and Metals National Corporation and SOQUEM Inc. 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.
Osisko Mining Corporation operates the Canadian Malartic Gold Mine in Malartic, Quebec, and is pursuing exploration on a number of properties, including the Hammond Reef Gold Project in Northern Ontario and the Queenston Upper Beaver Project in the Kirkland Lake area. Osisko employs more than 700 individuals.
This press release was prepared by Mario Masson, VP Midland Exploration and 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.
Midland Exploration Inc.
Gino Roger, President and Chief Executive Officer
450 420-5978 (FAX)
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