Midland Intersects Several New Gold-Bearing Intervals on Its Willbob Project in the Labrador Trough
Midland Exploration Inc. (MD) reported assay results from its 2026 summer diamond drilling campaign at the wholly owned Willbob gold project in the Labrador Trough, Quebec. The campaign consisted of 19 holes totaling 2,994 meters across the Ants, Ferricrete, Pump Pad Ridge, and Canyon areas. Full results were received for 15 holes, with partial results for four holes (WB-26-048 to WB-26-051) and further assays pending. The release reports intervals above 0.77 g/t Au in Table 1.
Key reported intervals, all as core/channel length and not true width: - WB-26-046, Pump Pad Ridge: 11.30 m at 3.53 g/t Au from 68.70 m, including 6.30 m at 5.90 g/t Au, including 3.60 m at 9.36 g/t Au; plus a separate 2.35 m at 3.32 g/t Au from 87.30 m. - WB-26-049, Pump Pad Ridge: 3.45 m at 1.94 g/t Au from 10.70 m; plus 0.85 m at 1.47 g/t Au. - WB-26-039, Ferricrete: 6.45 m at 3.02 g/t Au from 7.50 m, including 0.40 m at 7.55 g/t Au, 0.55 m at 14.4 g/t Au and 0.55 m at 6.56 g/t Au; plus 1.50 m at 2.44 g/t Au. - WB-26-040, Ferricrete: 2.00 m at 3.93 g/t Au from 11.60 m, including 0.40 m at 7.55 g/t Au. - WB-26-035, Ants: 0.50 m at 8.31 g/t Au from 153.40 m. - WB-26-036, Ants: 1.05 m at 0.78 g/t Au and 0.50 m at 1.76 g/t Au. - WB-26-041, Ferricrete: 0.60 m at 1.84 g/t Au. - WB-26-042, Ferricrete: 1.00 m at 1.02 g/t Au and 4.10 m at 1.04 g/t Au. - WB-26-043, Ferricrete: 3.70 m at 1.15 g/t Au and 2.00 m at 2.28 g/t Au. - WB-26-045, Pump Pad Ridge: 1.00 m at 1.55 g/t Au. - WB-26-047, Pump Pad Ridge: 1.00 m at 1.35 g/t Au. - WB-26-048, Pump Pad Ridge: 5.65 m at 1.55 g/t Au, 0.70 m at 3.28 g/t Au and 2.60 m at 0.77 g/t Au.
The release states that visible gold was observed in the WB-26-039 sample grading 14.4 g/t Au. It also notes that true thickness cannot be determined from available information. Midland’s QP is Richard D. St-Cyr, P.Geo. Assays were done at Actlab using 50 g fire assay with atomic absorption finish, metallic screen for visible-gold samples and adjacent samples, and a 60-element ICP-OES package.
Midland Exploration Inc. (MD) released drill results from its Willbob prospect, confirming the Pump Pad Ridge zone at slightly higher grades than historic drilling, identifying additional mineralized intervals at Ferricrete, and demonstrating that the Ants area remains gold-bearing. The best intercept yielded approximately 40 gm, comparable to the historic result of 3.05 g/t over 11.50 m (about 35 gm).
The company’s shares have declined from C$0.57 in January 2026 to C$0.34 at the latest price, near the C$0.33 52-week low. At a roughly C$42 million market capitalization, with a portfolio of partner-funded projects and no revenue, the release represents incremental news for a wholly owned project. True width is unknown, continuity is not established, and there is no resource or metallurgy data.
Midland Exploration Inc. (MD) operates as a Quebec-focused prospect generator, managing a portfolio of gold, copper-gold, lithium, and nickel-copper projects through a joint-venture model. The company maintains partnerships with major industry players including Rio Tinto, Centerra, Barrick, Agnico Eagle, Wallbridge, Fresnillo, and SOQUEM. Key partner relationships include Lewis with Barrick, Casault with Wallbridge, Galinée lithium with Rio Tinto, and La Peltrie with Fresnillo.
The La Peltrie joint venture was highlighted in an April 2026 presentation, which cited indicated resources of 1.75 moz Au and inferred resources of 1.65 moz Au. This data reflects prior-period context and does not constitute new information from the current release.
Midland’s wholly owned Willbob property covers 322 square kilometres and comprises 704 exclusive exploration rights. The company acquired the Kan project in 2025 and integrated it into the Willbob portfolio. The project remains in the early stages, and no resource estimate is reported in the release.
In prior-period financial data not disclosed in today’s release, Midland reported a net loss of C$1.54 million for the nine months ended June 30, 2026. Exploration expenditure for the period totaled C$4.62 million, with C$1.10 million in impairments. The company held C$5.71 million in cash, C$10.0 million in working capital, and C$12.0 million in adjusted working capital, which management states provides at least a 24-month runway. Midland has no debt and no meaningful revenue.