Midland Acquires Strategic Gold Property Along the Cadillac Break
MONTREAL, QUEBEC -- (Marketwired) -- 05/17/13 -- Midland Exploration
Inc. ("Midland") (TSX VENTURE:MD) is pleased to announce the
acquisition of 100% interest in a gold property comprising
twenty-nine (29) claims in two blocks located along and proximal to
the prolific Cadillac Break. This new strategic acquisition,
totalling more than 1,200 hectares, is located less than 5 kilometres
northwest of the town of Malartic, Quebec.
The Heva West block consists of 4 contiguous claims adjacent to the
west of the Maritime-Cadillac property, currently a 50/50 joint
venture between Midland and Agnico-Eagle Mines Limited
("Agnico-Eagle"). The Heva West block covers nearly 1 kilometre along
the contact between Pontiac Group sediments and mafic volcanic rocks
of the Piche Group and is located less than 1 kilometre south of
Agnico-Eagle's Lapa gold mine (2.1 million tonnes in proven and
probable reserves at a grade of 6.0 grams per tonne of gold, for
395,000 ounces of gold), which has been in commercial production
since May 2009.
The Heva East block is located about 4 kilometres to the southeast of
the Heva West block and consists of 25 contiguous claims largely
covering sedimentary rocks of the Cadillac Group just north of the
Piche Group. This block encompasses several historical gold
occurrences with grades up to 91.2 g/t Au and 3.12 g/t Au in surface
grab samples, and up to 6.2 g/t Au over 0.9 metre in drill hole. In
addition, the Heva East block covers a 4-kilometre segment along an
underexplored gold trend that graded 11.7 g/t Au over 0.5 metre in a
historical drill hole located less than 500 metres northwest of the
property boundary (Source: MRNF SIGEOM NTS sheet 32D01).
In consideration for the acquisition of 100% interest in the Heva
property, Midland will proceed with a cash payment in the amount of
$30,000 and will issue 60,000 common shares to the vendor, Arianne
A location map showing the new acquisition is available on Midland's
Midland targets the excellent mineral potential of Quebec to discover
new world-class deposits of gold, base metals, and rare earth
elements. Midland is proud to count on reputable partners such as
Agnico-Eagle Mines Limited, Osisko Mining Corporation, Maudore
Minerals 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. Management is currently reviewing other opportunities and
projects to build up the Company portfolio.
This press release was prepared by Mario Masson, P.Geo., VP
Exploration for Midland and Qualified Person as defined by NI 43-101.
For further information, please consult Midland's website.
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.
Gino Roger, President and Chief Executive Officer
450 420-5978 (FAX)
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