Midland Announces a New Strategic Alliance for Gold in the James Bay Region With Altius Minerals Corporation
MONTREAL, QUEBEC--(Marketwired - Feb 16, 2017) - Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to announce the execution of a strategic alliance with 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.
Under this new alliance, Midland and Altius will bring together two experienced exploration teams, as well as large databases, in order to generate exploration targets and new high-quality projects across the vast and underexplored James Bay region. Generation of exploration targets will begin shortly, and the first reconnaissance, prospecting and till sampling campaigns will begin in the early summer of 2017. A budget of approximately $500,000, jointly funded, will be allotted for the 2017 field campaign and Midland will be the operator.
This new strategic alliance with Altius covers a vast area of the James Bay region which is highly prospective for gold mineralization. Midland's existing properties and the area of interest defined under its agreement with Osisko Exploration James Bay Inc. are excluded from this new agreement with Altius.
Altius's diversified royalties and streams generate revenue from 14 operating mines located 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. It also holds a large portfolio of exploration-stage projects, which it has generated for deal making with industry partners and which will result in third party financing, equity and minority interests, and newly created royalty interests. Altius has 43,335,654 shares issued and outstanding that are listed on Canada's Toronto Stock Exchange. It is a member of both S&P/TSX Global Mining Indices.
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 Minerals Corp., Agnico Eagle Mines Ltd., Teck Resources Ltd., SOQUEM INC., Osisko Exploration James Bay Inc., Japan Oil and 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. For further information, please consult Midland's website: www.midlandexploration.com
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.
President and Chief Executive Officer