MIDEX COMPLETES TRANSACTION TO ACQUIRE NEW LITHIUM PROJECT IN SEYMOUR LAKE - CRESCENT LAKE - FALCON LAKE AREA AND PROVIDES UPDATE

TORONTO, CANADA – MAY 15, 2023 – MIDEX RESOURCES LTD. (“Midex” or the “Company”) is pleased

to announce that it has acquired a 100% interest in the Crescent Lake property (“Crescent Lake” or the

“Property”), which comprises a block of 245 contiguous claims totaling 4,908 ha, located near Armstrong,

Ontario, from Antler Gold Inc. ("Antler"). The Property is located in the Seymour-Crescent-Falcon lithium

belt, an area recognized for the rapid and recent exploration successes of Green Technology Metals (see

Figure 1).

The Property is located immediately adjacent and on trend with Green Technology Metals’ Seymour

Project. Other projects in the immediate area include the Battery Age Minerals Falcon Lake Lithium

project, the Green Technology Metals North Seymour, Junior Lake and Falcon Lake projects, and the

Nuinsco/First Class Metals Zig Zag Lake project. With four known spodumene-bearing pegmatite

occurrences, the addition of Crescent Lake immediately enhances Midex’s growing lithium exploration

portfolio. All four pegmatites on the Property returned greater than 1% Li2O from surface and drill core

sampling completed in 2016. The highest recorded drilling intercept to date, was 1.17% Li2O along a 49

metre core length drilled down dip on the L61W areas East Pegmatite. Surface channels from the 2016

program returned up to 3.14% Li2O over 1.2 metres in the Chappais Pegmatite. Previous personnel

reported spodumene crystals in the Chappais Pegmatite measuring up to 50 cm in length. A 4.0 metre

wide section of the L61W areas East Pegmatite assayed 1.64% Li2O, 0.078% Ta2O5, 2270 ppm rubidium,

418 ppm caesium, and 256 ppm beryllium, from surface channel samples.

As consideration for the acquisition of Crescent Lake, Midex paid $125,000 in cash and issued 10,059,404

common shares (the “Consideration Shares”), representing a 12% ownership in Midex. The Consideration

Shares were issued 50% to Antler and 50% to Sona Nanotech Inc. (“Sona”), as consideration for its original

sale of the Property to Antler. The definitive purchase agreement between Midex and Antler provides for

a further issuance of common shares at the time of a liquidity event to a 12% ownership in Midex (or the

Resulting Issuer thereof, as defined below), on an undiluted basis. In the event Midex does not complete

a liquidity event by December 31, 2024, the Property will be returned to Antler in exchange for the

Consideration Shares. Each of Antler and Sona entered into an investor rights agreement with Midex in

relation to the Consideration Shares which are subject to certain resale restrictions and escrow conditions,

as well as a two year standstill and voting support provisions.

“We are extremely pleased that Midex was able to acquire the Crescent Lake property. Since 2020, Midex

has been aggregating high quality lithium projects in Ontario. We now have six highly prospective land

packages, including key sections of both the Frontier Lithium and Green Technology Metals lithium trends

at Favourable Lake and Seymour-Crescent Lake respectively,” stated David Jamieson, President and CEO

of Midex, who added that “Midex can now begin exploring this virtually unexplored 8-kilometer Seymour-

Crescent Lake trend hosting lithium mineralization, which is a very unique opportunity.”