Quebec's Mineral Frontier: High-Stakes Hunt for Copper and Rare Earths

MONTREAL, QC – August 18, 2026 – A high-stakes exploration campaign is officially underway in the vast, resource-rich expanse of Quebec's Labrador Trough. Midland Exploration Inc., in a strategic partnership with provincial exploration leader SOQUEM Inc., has launched a program at its Malaco Mountain project, aiming to define the scale of a remarkable high-grade discovery of copper, gold, and rare earth elements (REEs) first unearthed in 2025. The program, featuring an advanced induced polarization (IP) survey, represents a critical step in potentially unlocking a deposit of minerals essential for the global green energy transition.

The new campaign is a direct follow-up to initial findings that sent ripples through the exploration community. The results from 2025 were not just promising; they were extraordinary. An initial grab sample from a previously unexplored outcrop yielded a spectacular grade of 31.60% copper (Cu) and 6.92 grams per tonne (g/t) gold (Au), immediately signaling the area's significant potential. This discovery prompted Midland and SOQUEM to secure the property and launch a more detailed sampling program.

A Discovery of Remarkable Richness

The follow-up work in September 2025 solidified the project's promise. A series of 25 grab samples taken across the mineralized zone confirmed the high-grade nature of the discovery, with ten samples returning grades above 1% Cu and one hitting 27.6% Cu. The mineralization was also found to be rich in other valuable metals, including silver (up to 32.4 g/t Ag), cobalt (up to 0.35% Co), and, critically, rare earth elements, with one sample grading 1.77% REE.

Geologically, the mineralization at Malaco Mountain is hosted in siltstones and mudstones. It appears in two forms: as layers of disseminated chalcopyrite and other copper minerals running parallel to the rock bedding, and as massive, cross-cutting veins associated with fractures and breccia zones. This geological setting, combined with associated silica, albite, and carbonate alteration, is a classic indicator of a robust mineralizing system.

Crucially for the current program, petrophysical testing on mineralized samples revealed strong electrical contrasts. This finding directly justifies the use of a 15-line kilometre induced polarization survey, a geophysical technique that measures how different materials hold an electrical charge. The survey is designed to map the subsurface extent of the sulphide mineralization far beyond the visible outcrop, identifying high-priority targets for a future drilling campaign.

Fueling the Future: The Global Race for Critical Minerals

The Malaco Mountain project is not just a compelling geological target; it is a strategically significant asset in a world hungry for critical minerals. Copper is the bedrock of global electrification, essential for everything from electric vehicle motors and charging stations to wind turbines and grid infrastructure. As nations accelerate their decarbonization efforts, demand for copper is projected to soar, placing immense pressure on existing supply chains.

Even more critical are the rare earth elements. These metals are indispensable for high-performance magnets used in EV motors and wind turbines, as well as in defense systems, consumer electronics, and medical technology. The global REE supply chain is precariously concentrated, with China dominating both production and processing. This has created significant supply chain vulnerabilities for Western nations, prompting governments in Canada and the United States to actively support the development of domestic sources.

Quebec's Labrador Trough, long recognized for its iron ore, is increasingly viewed as a “critical mineral superbelt” with untapped potential for copper, cobalt, nickel, and REEs. The style of mineralization at Malaco Mountain has drawn comparisons to Iron Oxide-Copper-Gold (IOCG) systems, which are known globally for hosting large deposits of these very commodities. A significant discovery here would not only be a company-maker for Midland but would also bolster Quebec’s position as a key supplier in a secure, North American critical minerals supply chain.

A Strategic Alliance Forging North

Navigating the challenging and capital-intensive world of northern exploration is a task best handled through collaboration. The Malaco Mountain project is a cornerstone of the Strategic Alliance formed between Midland Exploration and SOQUEM in November 2021. This partnership combines Midland’s agile “Project Generator” model—which focuses on acquiring and advancing high-potential properties—with the deep regional expertise and financial backing of SOQUEM, a subsidiary of Investissement Québec.

The alliance has committed a joint budget of $1 million for exploration on the Malaco Mountain and Nachicapau projects in 2026, providing a clear and funded pathway for the current work. This sustained, multi-year commitment demonstrates a shared long-term vision to systematically explore the Labrador Trough and unlock new, world-class deposits.

For investors, this partnership structure helps de-risk the venture. While junior exploration stocks like Midland carry inherent risk, the company boasts a strong, low-debt balance sheet and a diversified portfolio of projects with major partners like Barrick Mining Corporation and Rio Tinto. The backing of a well-capitalized provincial entity like SOQUEM adds another layer of stability and credibility to the ambitious exploration plans.

Responsible Exploration in a Pristine Environment

Operating in the remote northern territory of Nunavik carries a profound responsibility to protect the environment and engage respectfully with local Indigenous communities. The exploration partners have demonstrated a commitment to meeting these obligations. Midland Exploration recently achieved UL 2723 ECOLOGO® Certification for Mineral Exploration, an independent standard that verifies adherence to best practices in environmental stewardship and community relations.

Furthermore, Midland lists the Nunavik Mineral Exploration Fund (NMEF) as a key partner, signaling a collaborative approach to resource development that aims to provide direct benefits to the region's Inuit communities. Any future development beyond the current exploration stage will be subject to Quebec's rigorous environmental assessment process and require extensive consultation with local stakeholders to ensure that the project proceeds in a sustainable and mutually beneficial manner.

With the geophysical crews now mobilizing on-site, the next few months will be pivotal for the Malaco Mountain project. The data gathered from the IP survey and accompanying soil sampling will guide the next phase of exploration, which will almost certainly involve drilling to test the true depth and scale of this exceptionally rich mineral system.