Midland Exploration
Midland Exploration is a Quebec-focused junior mineral exploration company that identifies gold and critical metal deposits and partners with major mining firms (Rio Tinto, BHP, Barrick, Agnico Eagle, Centerra Gold) through option and joint-venture agreements, funding exploration via non-brokered private placements.
- Company typePublic
- Founded2006
- HeadquartersRosemère, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Midland Exploration does
Midland Exploration Inc. is a Montreal-based junior mineral exploration company listed on the TSX Venture Exchange under the symbol MD since March 2007, operating across four regions of Quebec: Abitibi, James Bay, Grenville, and Nunavik. The company applies geological field methods including prospecting, geological mapping, soil and lake-bottom sediment sampling, induced polarization and electromagnetic geophysical surveys, LiDAR aerial surveys, and diamond drilling, complemented by lithogeochemistry, glacial transport analysis, and AI-based mineral potential evaluation. Its portfolio spans roughly 40 active properties targeting gold, copper, nickel-copper-cobalt, platinum group elements, lithium, and rare earth elements.
The company's business model is partnership-driven and pre-revenue: Midland generates capital through non-brokered private placements (approximately C$19.7 million raised across 2023–2026 with strategic and institutional investors including Centerra Gold, CDPQ Sodéme x, Desjardins Capital, and SIDEX) and executes systematic exploration with the objective of optioning or joint-venturing discovered properties to major mining companies. Active partners include Rio Tinto (up to C$65.5 million lithium earn-in across Galinée, Mythril, Elrond, Wookie), BHP (Ni-Cu-Co alliance in Nunavik), Barrick Gold (up to 75% option on the Lewis gold property), Agnico Eagle, Centerra Gold, SOQUEM, Wallbridge, Fresnillo/Probe Gold, and Brunswick Exploration. The technical team, led by CEO Gino Roger and VP Exploration Mario Masson, is credited with multiple major discoveries including West-Ansil, Persévérance, Eleonore, and Cheechoo, and has received PDAC Bill Dennis Awards (2001, 2006), QMEA Prospector of the Year (2005), and Prix Jean-Descarreaux (2011).
Midland holds the first UL 2723 ECOLOGO certification for a mineral exploration company, obtained in December 2023, addressing environmental, social, and economic best practices. Recent mineralization highlights include gold-bearing boulders grading up to 24.5 g/t Au at Caniapisc Au (James Bay), copper assays up to 27.60% Cu at Malaco Mountain (Labrador Trough), Cu-Au-Ag showings up to 13.70% Cu / 4.38 g/t Au / 65.40 g/t Ag at Nachicapau, and spodumene pegmatites up to 7.2% Li2O at Galinée. Headcount is in the 11–50 range, market capitalization is approximately C$50.27 million as of April 2026, and the company does not currently generate operating revenue from mining production.
Midland Exploration firmographics
Firmographics- Name
- Midland Exploration
- Legal name
- Midland Exploration Inc.
- Website
- https://midlandexploration.com
- Company type
- Public
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Midland Exploration is a Quebec-focused junior mineral exploration company that identifies gold and critical metal deposits and partners with major mining firms (Rio Tinto, BHP, Barrick, Agnico Eagle, Centerra Gold) through option and joint-venture agreements, funding exploration via non-brokered private placements.
- Ownership category
- akta.pro rank
Midland Exploration industry classification
Industry- Product category
- Mineral Exploration Services
- NAICS
- Gold Ore and Silver Ore Mining (21222), Copper, Nickel, Lead, and Zinc Mining (212230), Other Metal Ore Mining (212290), Metal Ore Mining (2122)
- SIC
- Gold And Silver Ores (1040), Metal Mining (1000), Miscellaneous Metal Ores (1090)
- akta.pro primary industry
- Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)
- akta.pro secondary industries
- Precious Metals Exploration & Project Development (IMAKAEAI), Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Copper Exploration & Resource Development (IMAKADAA)
Keywords
Where Midland Exploration is headquartered
LocationHeadquarters
- HQ city
- Rosemère
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Midland Exploration business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Exploration Project Partnership / Option Agreements: Midland discovers mineral deposits through exploration and then options or joint-ventures properties to major mining companies (e.g., Barrick, Rio Tinto, BHP, Agnico Eagle) in exchange for cash payments, exploration work commitments, and equity interests. The company does not currently generate operating revenue.
- Equity Capital Raises: The company raises funds through non-brokered private placements, issuing units consisting of common shares and warrants. Recent financings include $5.3 million (2026), $6.1 million (2025), and $3.0 million (2025). Proceeds fund exploration activities in Quebec.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Option and joint-venture agreements with major mining companies |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Midland Exploration product offering
Product offeringCore offering
Midland Exploration is a pre-revenue junior mineral exploration company that acquires and advances early-stage gold and critical metal properties in Quebec, Canada. The company generates value by optioning and joint-venturing these properties to major mining companies (Rio Tinto, BHP, Barrick, Agnico Eagle, SOQUEM, Centerra Gold) in exchange for staged cash payments, exploration work commitments, and retained carried interests. Operations are funded through equity capital raises from institutional and strategic investors.
Product overview
Midland Exploration is a mineral exploration company focused on discovering world-class gold and critical metal deposits in Quebec, Canada. The company operates a diversified portfolio of exploration projects across multiple regions (Abitibi, James Bay, Grenville, Nunavik) and commodity types, including gold, copper, nickel, copper, platinum group elements, and lithium. Midland works primarily through strategic partnerships and joint ventures with major mining companies including Rio Tinto Exploration Canada, BHP Canada, Centerra Gold, Barrick, Agnico Eagle, Wallbridge, Fresnillo, SOQUEM, and others. The company does not appear to have a traditional software or technology product offering—its business model centers on mineral property exploration and development, with revenue generated through option agreements, property sales, and partnership arrangements rather than commercialized products.
Differentiator
Problem solved
Functional benefit
Products and services
- Galinée Gold-Lithium Project Optioned mineral property in James Bay, Quebec, partnered with Rio Tinto Exploration Canada for gold and lithium exploration; joint drilling has intersected spodumene pegmatites grading up to 7.2% Li2O. For major mining companies seeking farm-in exposure to Quebec lithium.
- Mythril Régional Copper-Gold-Moly-Silver-Lithium Project Optioned multi-commodity property (Cu-Au-Mo-Ag-Li) in James Bay, Quebec, partnered with Rio Tinto Exploration Canada under a strategic option agreement covering multiple James Bay lithium/copper-gold properties. For major mining companies.
- Lewis Gold Property Gold property in Quebec under definitive option agreement with Barrick Gold Corporation, who can acquire up to 75% interest through staged cash payments and exploration work commitments over several years. For major gold producers.
- Alliance BHP Nickel-Copper-Cobalt Project Nickel-copper-cobalt project in Nunavik, Quebec, operated under a strategic alliance with BHP Canada Inc., with BHP funding airborne electromagnetic surveys and field programs. For major mining companies seeking critical metals exposure.
- Caniapisc Au Gold Project Wholly-owned gold project in Eeyou Istchee James Bay and Caniapiscau regions of Quebec, with gold-bearing boulders grading up to 24.5 g/t Au traced up-ice toward unexplained IP and EM anomalies; multiphase 2026 exploration program commenced in June 2026. Available for optioning to gold-focused mining partners.
- Maritime-Cadillac Gold Project Gold property in Abitibi under joint venture with Agnico Eagle Mines, leveraging proximity to Agnico Eagle's producing LaRonde mine. For major gold producers.
- La Peltrie Gold Project Gold project in Abitibi under joint venture with Probe Gold Inc. (Fresnillo plc subsidiary); drilling intersected up to 1.33% CuEq over 9.5m, expanding a Cu-Au-Ag-Mo mineralized system. For major gold and copper producers.
- Casault Gold Property Gold property in Abitibi under joint venture with Wallbridge Mining Company Ltd, who serves as operator; drilling programs have been conducted. For major gold producers.
- Laflamme Gold-Nickel-Copper Project Gold-Nickel-Copper project in Abitibi under joint venture with Mines Abcourt Inc., with Abcourt serving as operating partner. For gold and base metals producers.
- Alliance SOQUEM Cu-Zn-Ni-Co-Au Project Copper-Zinc-Nickel-Cobalt-Gold project in Nunavik under strategic alliance with SOQUEM Inc.; joint discoveries include new copper-gold-REE zones at Malaco Mountain grading up to 27.60% Cu and new Cu-Au-Ag showings at Nachicapau grading up to 13.70% Cu, 4.38 g/t Au, and 65.40 g/t Ag. For base and precious metals producers.
- Patris Gold Property Gold property in Quebec previously partnered with Barrick Gold Corporation, where joint drilling campaigns were conducted. For gold producers.
- Elrond Gold-Lithium Project Gold-Lithium project in James Bay partnered with Brunswick Exploration Inc., with a maiden drilling program announced in 2024 and new spodumene-bearing pegmatites discovered. For lithium and gold producers.
- ECOLOGO UL 2723 Certified Exploration Services Sustainably-certified mineral exploration services delivered under the ECOLOGO UL 2723 certification framework covering environmental, social, and economic best practices; Midland was the first mineral exploration company to obtain this comprehensive certification in December 2023. For institutional investors and mining partners requiring ESG-aligned exploration.
Quantifiable outcome
- Gold-bearing boulders grading up to 24.5 g/t Au discovered at Caniapisc Au project, James Bay
- +3 more outcomes
Companies that use Midland Exploration
Customer profileSegments2 records
Ideal customer profiles2 records
Midland Exploration technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Midland Exploration partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- Barrick Gold Corporation (Société minière Barrick)coreDefinitive option agreement on the Lewis gold property (Quebec), where Barrick can acquire up to 75% interest through cash payments and exploration work over several years. Barrick is also a prior partner on the Patris gold property where a drilling campaign was conducted.
- Mines Agnico Eagle LimitéeminorJoint venture on the Maritime-Cadillac gold property in Abitibi, where Agnico Eagle serves as partner leveraging proximity to their producing LaRonde mine.
- Mines Abcourt Inc.minorJoint venture on the Laflamme project (Au-Ni-Cu) in Abitibi, where Abcourt Mines serves as the operating partner.
- Wallbridge Mining Company LtdminorJoint venture on the Casault gold property in Abitibi. Drilling programs conducted in partnership with Wallbridge, who serves as operator.
- BHP Canada Inc. (Alliance BHP)coreStrategic alliance for nickel-copper exploration in Nunavik, Quebec. BHP-funded exploration programs including major airborne electromagnetic surveys and field programs. Active projects include Alliance BHP (Ni-Cu-Co) covering new claim staking following copper boulder discoveries.
- Nunavik Mineral Exploration Fund (FEMN / Fonds d'exploration minière du Nunavik)minorPartnership on the Soissons Ni-Cu-Co project in Nunavik. FEMN is a regional exploration fund supporting mineral exploration in northern Quebec.
- Probe Gold Inc. (Fresnillo plc subsidiary)minorJoint venture on the La Peltrie and Gaudet-Fénélon gold projects in Abitibi. Drilling intersected up to 1.33% CuEq over 9.5m at La Peltrie, expanding a Cu-Au-Ag-Mo mineralized system.
- Brunswick Exploration Inc.minorPartnership on the Elrond project for lithium exploration, with a maiden drilling program announced in 2024. New spodumene-bearing pegmatites discovered.
- SOQUEM Inc.coreStrategic alliance for exploration in the Labrador Trough and Nunavik regions. Joint discoveries include copper-gold-REE zones at Malaco Mountain (up to 27.60% Cu), new Cu-Au-Ag showings at Nachicapau (13.70% Cu, 4.38 g/t Au, 65.40 g/t Ag), and the Alliance SOQUEM project for Cu-Zn-Ni-Co-Au.
- Rio Tinto Exploration Canada Inc. (RTEC)coreStrategic option agreement on multiple lithium exploration properties (Galinée, Mythril Regional, Elrond, Wookie) in James Bay, Quebec. Rio Tinto can earn interests by funding exploration expenditures up to $65.5 million. Joint drilling programs have intersected spodumene pegmatites grading up to 7.2% Li2O at Galinée and new lithium-cesium bearing pegmatites in 2025.
- Electric Elements Mining Corp. (formerly Osisko)minorJoint venture on the Éléonore project (Au-Cu-Ag-Li) in James Bay, building on prior Eleonore district exploration expertise of team member Paul Archer.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Midland Exploration competitors and assessment
Company assessmentDirect peers
- Probe Gold: Gold-focused Quebec explorer (Novador project, Val-d'Or) — Midland is a JV partner with Probe/Fresnillo on La Peltrie and Gaudet-Fénélon. Directly comparable as a gold junior with Quebec-centric operations and similar partnership-led development model.
- Critical Elements Lithium: Quebec-focused lithium developer (Rose project). Comparable as a Quebec critical-minerals junior with projects in similar James Bay/Eeyou Istchee geological settings, sharing the same partner ecosystem and infrastructure advantages.
- Electric Elements Mining Corp. Former Osisko-affiliated explorer with Au-Cu-Ag-Li projects in James Bay (Éléonore project with Midland). Comparable as a Quebec critical-minerals and gold junior sharing JV structures with Midland.
- Brunswick Exploration: Quebec-focused lithium and critical minerals explorer with projects in James Bay. Directly comparable as a junior using similar geological methodologies and operating in overlapping jurisdictions; Midland is also an active JV partner with Brunswick on the Elrond project.
- Wallbridge Mining: Quebec-focused gold and base metals explorer (Martison PGE, Casault gold JV with Midland). Directly comparable as an Abitibi gold junior using JV structures to advance exploration, sharing project-level economics with Midland via the Casault partnership.
- Harfang Exploration: Quebec-focused gold and base metals explorer (Lake Menarik, Serpent-Radisson). Closely comparable as a small-cap Quebec junior with similar multi-commodity exploration thesis and TSX-V listing profile.
- Québec Precious Metals: Quebec-focused gold explorer (Sakami, La Pointe, Jouvex area). Highly comparable as a James Bay/Abitibi gold junior with similar exploration strategy and institutional investor base.
- Abcourt Mines: Quebec-based gold/silver/zinc producer-explorer. Acts as operating JV partner with Midland on Laflamme. Closely comparable as a small-cap Quebec junior working in similar Abitibi geological settings with overlapping exploration methodologies.
Broad incumbents
- First Majestic Silver: Mid-tier precious metals producer with a Quebec-focused board member (Jean des Rivières is a Midland director). Comparable as an established Quebec-region precious metals company, but at vastly larger scale — relevant as a potential acquirer or partner.
- Agnico Eagle Mines: Senior gold producer operating in Quebec (LaRonde, Goldex). Active JV partner with Midland on Maritime-Cadillac gold property. Relevant as a large incumbent that both validates Midland's exploration thesis and represents a potential take-out path.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Midland Exploration social profiles
Digital presenceMidland Exploration compliance and trust
Trust signalCompliance1 record
Midland Exploration financial estimates
Financial estimateRevenue estimate
Valuation estimate
Midland Exploration leadership team
Management profileNumber of profiles
Profiles14 records
Midland Exploration funding detail
Funding detailFunding overview
Funding rounds18 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Midland Exploration M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Midland Exploration
What does Midland Exploration do?
Midland Exploration is a pre-revenue junior mineral exploration company that acquires and advances early-stage gold and critical metal properties in Quebec, Canada. The company generates value by optioning and joint-venturing these properties to major mining companies (Rio Tinto, BHP, Barrick, Agnico Eagle, SOQUEM, Centerra Gold) in exchange for staged cash payments, exploration work commitments, and retained carried interests. Operations are funded through equity capital raises from institutional and strategic investors.
Is Midland Exploration a public or private company?
Midland Exploration is a public company. It is classified as public and is currently operating.
When was Midland Exploration founded?
Midland Exploration was founded in 2006. It employs 11 to 50 people.
Where is Midland Exploration based?
Midland Exploration is headquartered in Rosemère, Canada, in the North America region.
How does Midland Exploration make money?
Two revenue lines are on record. Exploration Project Partnership / Option Agreements are the primary driver. The others are equity Capital Raises.
Who are Midland Exploration's main competitors?
Direct peers on record are Probe Gold, Critical Elements Lithium, Electric Elements Mining Corp., Brunswick Exploration, Wallbridge Mining, Harfang Exploration, Québec Precious Metals and Abcourt Mines. Broad incumbents are First Majestic Silver and Agnico Eagle Mines.
Does Midland Exploration have an API?
No public API is recorded for Midland Exploration.
What industry is Midland Exploration in?
Midland Exploration's product category is Mineral Exploration Services. Its primary akta.pro industry code is IMAKAKAA, Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling), with a secondary code of IMAKAEAI, Precious Metals Exploration & Project Development. Its NAICS code is 21222 and its SIC code is 1040.