Midland Exploration Inc.
TSX VENTURE : MD

Midland Exploration Inc.

November 13, 2009 11:00 ET

Midland Exploration Completes $2.8 Million Private Placement

MONTREAL, QUEBEC--(Marketwire - Nov. 13, 2009) - Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to announce that it has completed its previously announced private placement with Laurentian Bank Securities Inc. (the "Agent") by issuing a total of 2,123,033 units to accredited investors at a price of $1.20 per unit and 166,700 flow-through shares at $1.50 per share, for total gross proceeds to Midland of $2,797,690. The securities issued in the private placement are subject to a four-month hold period expiring on March 14, 2010.

Each unit will be comprised of one common share and one-half of a common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one additional common share of Midland at a price of $1.75 until May 13, 2011.

Midland will use the proceeds from the private placement to fund its exploration plan and for working capital purposes.

In connection with the private placement, Midland paid the Agent a cash fee of $174,838 and issued non-transferable Agent's Option to the Agent, entitling them to acquire a maximum of 124,884 shares of Midland at a price of $1.20 per share until May 13, 2011.

As a result of the private placement, there are 23,926,279 common shares of Midland issued and outstanding.

About Midland Exploration

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, uranium and REE. Midland is proud to count on reputable partners such as Agnico-Eagle Mines Limited, Osisko Mining Corporation, North American Palladium Limited 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.

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.

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