Midland Exploration completes $2.8 million private placement

21 December 2012

Montreal, December 21, 2012.  Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce that it has completed its previously announced private placement with Laurentian Bank Securities Inc. (the Agent”) by issuing to accredited investors a total of 769,264 units at a price of $1.30 per unit and 1,105,882 flow-through shares at $1.65 per share, for total gross proceeds to Midland of $2,824,748. The securities issued in the private placement are subject to a four-month hold period expiring on April 22, 2013.

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 common share of Midland at a price of $1.75 until June 21, 2014.

Midland will use the private placement proceeds to fund its exploration plan and for general corporate purposes.

In connection with the private placement, Midland paid the Agent a cash fee of $150,735 and issued non-transferable Agent’s Option to the Agent, entitling them to acquire 85,342 common shares of Midland at a price of $1.30 per share until June 21, 2014.

As a result of the private placement, there are 28,536,225 common shares of Midland issued and outstanding.

About Midland Exploration
Midland targets the excellent mineral potential and favourable investment environment in Quebec to make the discovery of 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, North American Palladium Limited, Japan Oil, Gas and Metals National Corporation and SOQUEM Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements. Midland is currently evaluating new opportunities and other projects in order to improve the portfolio of the Company and shareholder value.
 
Gino Roger, President and Chief Executive Officer
Tel: 450 420-5977
Fax: 450 420-5978
E-mail: mailto:info@midlandexploration.com
 
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.

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