Midnight Sun Mining Corp. Announces Private Placement

Vancouver, British Columbia, October 17, 2018 — Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA) is pleased to announce a non-brokered private placement of 8,333,334 units (the “Units”) at a price of $0.12 per Unit for gross proceeds of $1,000,000 (the “Offering”). Each Unit will consist of one (1) common share (“Common Share”) in the capital of the Company and one (1) Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share of the Company for a period of twelve months from the closing of the Offering at an exercise price of $0.20. The Company intends to close the Offering as soon as practicable.

Midnight Sun Appoints Chief Operating Officer

Vancouver, British Columbia, October 3, 2018 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA) is pleased to announce the appointment of Wayne Moorhouse as Chief Operating Officer (“COO”) with immediate effect. In the newly created COO position, he will be responsible for the efficient advancement of the Solwezi copper-cobalt property located in Zambia through the design, implementation and oversight of the Company’s business operations.

Over the course of his career, Mr. Moorhouse has held senior management positions with several mining and civil construction companies. He has a proven track record at an operating level with experience covering all stages of a project’s life, from grass roots exploration through feasibility and engineering studies, strategic planning, construction, mine expansion and operations.

From 2012 to September 2013, Mr. Moorhouse held the position of CFO for Roxgold Inc where he managed projects in support of a large-scale exploration program and preliminary economic assessment. From 2003 to 2011, Mr. Moorhouse held senior management positions with Silvermex Resources Inc, including President of La Guitarra Compania Minera, where he oversaw strategic growth initiatives at the La Guitarra Mine including large scale exploration program, a mine expansion feasibility study, mill updates, and mine reopening and expansion. Prior to Silvermex Mr. Moorhouse project managed several large civil construction projects in Western Canada.

Since June of 2012, Mr. Moorhouse has served as Midnight Sun’s CFO while working on other exploration and mining projects outside the Company. Because of the additional COO responsibilities added to his continuing CFO duties, Mr. Moorhouse has resigned from other outside positions to focus on Midnight Sun and the Solwezi project.

EXPLORATION UPDATE

Midnight Sun is awaiting the results and initial interpretation of the Versatile Time-Domain Electromagnetic (VTEM) survey and final results from its Phase 1 drilling program. Material results will be publicly disclosed when they are received.

ABOUT MIDNIGHT SUN MINING

Midnight Sun has earned a 60% interest in the Solwezi Licences with the potential to acquire the remaining 40% through unmatched property expenditures. The Solwezi Licences are comprised of two individual exploration licences totalling 506 square kilometres, situated in the North-Western Province of Zambia, adjacent to First Quantum’s Kansanshi Mine; Africa’s largest copper mining complex, on the prolific Zambia-Congo Copper Belt.

Led by experienced directors and talented management, Midnight Sun aims to further explore the impressive mineralization and anomalies that have been discovered on the Solwezi Licences.

Midnight Sun Mining Corp. trades on the TSX Venture Exchange under the symbol MMA.

Please also refer to the Company’s previous news releases as well as the Company’s presentation on its website at:  www.midnightsunmining.com.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Brett A. Richards – President and Chief Executive Officer

For Further Information Contact:

Brett A. Richards
President and Chief Executive Officer
Tel:  +1 905 449 1500
Al Fabbro
Lead Director
Tel:  +1 604 351 8850

NEITHER THE 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 NEW RELEASE.

Midnight Sun Terminates Letter Of Intent And Term Sheet To Acquire Remaining 40% Of Partnership

Vancouver, British Columbia, October 1, 2018 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA) announces the termination of the previously announced letter of intent and term sheet with Kam Chuen Resource Holdings Inc. (“Kam Chuen”) to acquire the remaining 40% interest in Zambian High Light Mining Investment Limited  (See news release dated February 20, 2018 for more details).

ZHLMIL holds the two large scale exploration licenses collectively known as the Solwezi Licenses. Midnight Sun and Kam Chuen will continue to operate as partners in ZHLMIL with Midnight Sun holding a 60% interest and Kam Chuen holding a 40% interest as contemplated in the original property option agreement dated July 30, 2013.

The Company’s President and Chief Executive Officer, Brett Richards stated: “The acquisition of the remaining 40% of Zambian High Light Mining Investment Limited no longer makes sense in the context of the current market, and we are happy to move forward with Kam Chuen as partners on the Solwezi Licences.”

ABOUT MIDNIGHT SUN MINING

Midnight Sun has earned a 60% interest in the Solwezi Licences with the potential to acquire the remaining 40% through unmatched property expenditures. The Solwezi Licences are comprised of two individual exploration licences totalling 506 square kilometres, situated in the North-Western Province of Zambia, adjacent to First Quantum’s Kansanshi Mine; Africa’s largest copper mining complex, on the prolific Zambia-Congo Copper Belt.

Led by experienced directors and talented management, Midnight Sun aims to further explore the impressive mineralization and anomalies that have been discovered on the Solwezi Licences.

Midnight Sun Mining Corp. trades on the TSX Venture Exchange under the symbol MMA.

Please also refer to the Company’s previous news releases as well as the Company’s presentation on its website at:  www.midnightsunmining.com.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Brett A. Richards – President and Chief Executive Officer

For Further Information Contact:

Brett A. Richards
President and Chief Executive Officer
Tel:  +1 905 449 1500
Al Fabbro
Lead Director
Tel:  +1 604 351 8850

NEITHER THE 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 NEW RELEASE.

This news release includes certain statements that may be deemed as “forward-looking statements” within the meaning of applicable Canadian securities laws.  All statements in this release, other than statements of historical facts, are forward-looking statements.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.  Factors that could cause actual results to differ materially from those in the forward-looking statements include:  changes in market conditions, unsuccessful exploration results, changes in the price of commodities (particularly copper, cobalt, gold and nickel), unanticipated changes in key management personnel and general social, economic or geo-political conditions.  Mining exploration and development is an inherently risky business.  Accordingly the actual events may differ materially from those projected in the forward-looking statements.  This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements.  These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements.  The Company does not undertake to update any forward–looking statement that may be from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Midnight Sun Receives Phase One Assays

Vancouver, British Columbia, August 27, 2018 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA) is pleased to report initial results of its Phase One 2018 exploration program on its Zambian copper-cobalt properties, the Solwezi Group of Licences (“Solwezi Licences”) located in the North-Western province of Zambia.  Phase One work included 7 diamond drill holes totalling 1,503 meters and 234 air core holes totalling 10,424 meters at the Mitu target, as well as ground and airborne geophysical surveys.

Midnight Sun Mining 2018 Exploration Update

Vancouver, British Columbia, July 3, 2018 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA) is approaching completion of its Phase One 2018 exploration program on its Zambian copper-cobalt properties, the Solwezi Group of Licences (“Solwezi Licences”). This phase of exploration was designed to further develop an understanding of the geologic controls and mineralization on the Solwezi Licenses as well as develop targets for future diamond drilling.

PHASE ONE Program

Phase One of the 2018 exploration program employed a series of progressively more detailed techniques to refine the Company’s comprehension of the geology and mineralization on the Solwezi Licences. Specific attention was given to the Mitu area, where copper-cobalt mineralization was confirmed by the 2017 drill program and favourable geology was established over a 17 kilometre strike length.

Phase One of the 2018 exploration program included the following:

    • 1,503 metres of diamond drilling;
    • 10,424 metres of air core drilling;
    • 34 line kilometres of Natural Sourced Audio Magneto Tellurics (“NSAMT”) ground geophysics;
    • 2,684 line kilometres of Versatile Time Domain Electromagnetic airborne geophysics (“VTEM”) (in progress); and,
    • complete re-logging of all historic drill core and geochemical samples.

A team of geologists and data management personnel re-logged all historic drill core and plotted all soil geochemical samples from previous exploration campaigns. This data has been uploaded into the company’s geological information system for collection and compilation, and together with the additional data gathered from this phase, will build an updated interpretive model to optimize future drill targets.

NSAMT ground geophysics were run over additional areas of the Mitu copper-cobalt target which were not covered by geophysical lines in the 2017 exploration program. This survey was conducted on 500 metre spacings to provide a more detailed view of the position and distribution of the favourable black shale units which host the identified copper-cobalt mineralization at Mitu.

Two air core drill rigs drilled a total of 10,424 metres to evaluate the intensity of copper-cobalt mineralisation in the conductor rocks highlighted by the NSAMT surveys. The results of this evaluation will guide diamond drill holes in Phase Two of the 2018 exploration campaign and help ensure drilling is focused on testing significant mineralised conductors.

1,503 metres of diamond drilling were completed, focusing on targets delineated by data from the 2017 exploration program. Samples have been sent to SGS in Kalulushi for assaying. All material results will be released when received by the Company.

After minor weather related delays at a previous client, the Company’s airborne geophysical contractor is now onsite and has initiated a planned 2,684 line kilometre VTEM survey, with an expected completion date to be the week of July 20th, 2018. This survey will cover the entirety of the Solwezi Licenses, providing data on all known areas of mineralization: Mitu, the 22 Zone, Dumbwa, Kifubwe and Khaziba; as well as information on areas previously unexplored on the Solwezi Licenses.

The Company’s President and Chief Executive Officer, Brett Richards stated: “We have significantly advanced our understanding of the regional geology as a result of the activities in Phase One of our drilling campaign, and I look forward to the results over the coming weeks. As we have maintained from the beginning of our program, we intend to be methodical in our exploration approach to maximizing the size and scale of the mineralization contained within the Solwezi Licences.  After taking a short period of time to collect, analyse, and interpret all of the newly generated data from Phase One; I believe the interpretation of the results will guide us systematically through the next phases of development.”    

Please refer to the Company’s previous New Releases as well as the Company presentation on its website at:  www.midnightsunmining.com.

ABOUT MIDNIGHT SUN MINING

Midnight Sun has earned a 60% interest in the Solwezi Licences with the potential to acquire the remaining 40%. The Solwezi Licences are comprised of two individual prospecting licences totalling 506 km2, situated in the North-Western Province of Zambia, adjacent to First Quantum’s Kansanshi Mine; Africa’s largest copper mining complex, on the prolific Zambia-Congo Copper Belt.

Led by experienced directors and talented management, Midnight Sun aims to further explore the impressive mineralization and anomalies that have recently been discovered on the Solwezi Licenses.  

Midnight Sun Mining Corp. trades on the TSX Venture Exchange under the symbol MMA.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Brett A. Richards – President and Chief Executive Officer

For Further Information Contact:

Brett A. Richards
President and Chief Executive Officer
Tel:  +1 905 449 1500
Al Fabbro
Lead Director
Tel:  +1 604 351 8850

NEITHER THE 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 NEW RELEASE.

This news release includes certain statements that may be deemed as “forward-looking statements”.  All statements in this release, other than statements of historical facts, the expected completion of any Offering, and the expected use of proceeds are forward-looking statements.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.  Factors that could cause actual results to differ materially from those in the forward-looking statements include:  changes in market conditions, unsuccessful exploration results, changes in the price of commodities (particularly copper, cobalt, gold and nickel), unanticipated changes in key management personnel and general social, economic or geo-political conditions.  Mining exploration and development is an inherently risky business.  Accordingly, the actual events may differ materially from those projected in the forward-looking statements.  This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements.  These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements.  The Company does not undertake to update any forward-looking statement that may be from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Midnight Sun Mining Completes Private Placement

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia, May 30, 2018 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA) has completed the second and final tranche of its previously announced non-brokered private placement by issuing 2,082,400 units (the “Units”) at a price of $0.32 per Unit for gross proceeds of $666,368.  Each Unit consists of one common share (“Common Share”) in the capital of the Company and one-half of one Common Share purchase warrant (“Warrant”).  Each full Warrant entitles the holder to purchase one Common Share of the Company for a period of twelve months from closing, at an exercise price of $0.48.

Finder’s fees of $24,960 will be paid in cash and 78,000 Finder’s Warrants will be issued in connection with this tranche of the private placement.  Each Finder’s Warrant will entitle the holder to purchase one common share at a price of $0.48 for a period of twelve months, expiring on May 28, 2019.

Insiders of the Company have subscribed for 782,400 Units in this tranche for gross proceeds of $250,368.

All securities issued pursuant to this tranche, including the Common Shares underlying the Warrants, are subject to a statutory hold period which expires on September 29, 2018.

In total, the Company issued 3,453,963 Units for gross proceeds of $1,105,268.  Finder’s fees of $43,704 will be paid in cash and 136,575 Finder’s Warrants will be issued in connection with the Private Placement.

In total, Insiders of the Company purchased 807,400 Units for gross proceeds of $258,368.

The net proceeds of this offering will be used by the Company to fund further exploration work on its Zambian mineral properties as well as general working capital.

The completion of this private placement remains subject to final acceptance by the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Brett A. Richards – President and Chief Executive Officer

For Further Information Contact:

Brett A. Richards
President and Chief Executive Officer
Tel:  +1 905 449 1500
Al Fabbro
Lead Director
Tel:  +1 604 351 8850

NEITHER THE 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 NEW RELEASE.

These securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

Midnight Sun Mining Closes First Tranche of Private Placement

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia, May 15, 2018 — Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA) has completed the first tranche of its previously announced non-brokered private placement by issuing 1,371,563 units (the “Units”) at a price of $0.32 per Unit for gross proceeds of $438,900. Each Unit consists of one common share (“Common Share”) in the capital of the Company and one-half of one Common Share purchase warrant (“Warrant”). Each full Warrant entitles the holder to purchase one Common Share of the Company for a period of twelve months from closing, at an exercise price of $0.48.

Finder’s fees of $18,744 will be paid in cash and 58,575 Finder’s Warrants will be issued in connection with this tranche of the private placement.  Each Finder’s Warrant will entitle the holder to purchase one common share at a price of $0.48 for a period of twelve months, expiring on May 11, 2019.

Insiders of the Company have subscribed for 25,000 Units in this tranche for gross proceeds of $8,000.

All securities issued pursuant to this tranche, including the Common Shares underlying the Warrants, are subject to a statutory hold period which expires on September 12, 2018.

The net proceeds of this offering will be used by the Company to fund further exploration work on its Zambian mineral properties as well as general working capital.

The completion of this private placement remains subject to final acceptance by the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Brett A. Richards – President and Chief Executive Officer

For Further Information Contact:

Brett A. Richards
President and Chief Executive Officer
Tel:  +1 905 449 1500
Al Fabbro
Lead Director
Tel:  +1 604 351 8850

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE PO

These securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

Midnight Sun Mining Commences 2018 Exploration Program

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia, April 25, 2018 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun“) (TSX-V: MMA) has commenced its exploration program for the 2018 field season. The Company has designed a comprehensive exploration program to further advance its Zambian copper properties.

2018 Exploration Program

The Company has mobilized the first diamond drill rig to the Solwezi Group of Licences (“Solwezi Licences”) and will start operations in the next two weeks. The second diamond drill rig is currently at the Zambian border and should be at site in two weeks’ time, commencing work shortly thereafter.

A team of seven geologists and data management personnel are on the ground and have completed the re-logging of all historic drill core to facilitate a strong comprehension of the geology and controls on mineralisation at the Solwezi targets. This knowledge will support optimization of drill holes in the upcoming program. Additionally, the Company has introduced robust QA/QC procedures for all work programs.

A Natural Sourced Audio Magneto Tellurics (“NSAMT”) ground geophysics programme over the north-west area of the Mitu copper-cobalt target has been completed by Symons Geophysics, with a total of 35 line kilometres surveyed. This survey was conducted on 500 metre spaced lines with the goal of providing a more detailed view of the position and distribution of the favourable black shale units which host the identified copper-cobalt mineralization. A final interpretation and model is expected in approximately three weeks.

The Company has also contracted GeoTech Ltd. to fly a 200 metre spaced airborne geophysics survey, including Heli-borne Versatile Time Domain Electromagnetics (“VTEM”), magnetics and radiometrics over the entire property, with 100 metre spaced infill over the three main targets of Mitu, 22 Zone and Dumbwa (north and central). The survey should commence in the third week of May, subject to weather conditions at site.

Midnight Sun will utilize the new data generated from these VTEM and NSAMT surveys to conduct a comparative interpretation using the exploration dataset, including the drill data from its 2016 and 2017 drilling campaign, early 2018 drill results, and soil geochemistry. This will help determine primary and secondary drill targets on the three main mineralized areas. In particular, the survey can identify the position of additional black shale units along the Mitu corridor and at depth below the limestones at 22 Zone, where the Company sees potential for mineralization analogous to that found at the neighbouring Kansanshi Mine (First Quantum Minerals).

The Company will also mobilise an air core drill rig to Mitu in late May to evaluate the intensity of copper-cobalt mineralisation in the conductor rocks. This will guide the diamond drill holes to focus on testing the most significant and sizeable mineralised conductors and leverage the overall exploration program towards the discovery of significant mineral resources.

The Company’s President and Chief Executive Officer, Brett Richards stated: “We have made tremendous strides in preparing Midnight Sun with the people, processes, site infrastructure and logistics needed to maximize the comprehensive drilling campaign set to start this forthcoming field season and continue (up to) the next three years, if required. All of the planning and infrastructure built at site has been done so with a sustainable approach to our future work requirements, and I look forward to first results in June 2018.”

Private Placement

The Company announces a non-brokered private placement of up to 3,750,000 units (the “Units”) at a price of $0.32 per Unit for gross proceeds of $1,200,000 (the “Offering”). Each Unit will consist of one (1) common share (“Common Share”) in the capital of the Company and one half of one (1) Common Share purchase warrant (a “Warrant”). Each full Warrant will entitle the holder to purchase one Common Share of the Company for a period of twelve months from the closing of the Offering at an exercise price of $0.48. The net proceeds from the Offering will be used by the Company to fund exploration on the Solwezi Licences as well as general working capital. The Company intends to close the Offering as soon as practicable.

Brett Richards, Chief Executive Officer of the Company, has again committed to participate in the private placement as the lead order, personally subscribing for $200,000 worth of units.

The Offering, including the future issuance of the Common Shares and Warrants, is subject to the final approval of the TSX Venture Exchange. All securities issued will be subject to a hold period of four months and one day pursuant to applicable securities laws.

Please refer to the Company’s previous New Releases as well as the Company presentation on its website at: www.midnightsunmining.com.

ABOUT MIDNIGHT SUN MINING

Midnight Sun Mining Corp. is a mineral exploration and development company that trades on the TSX Venture Exchange under the symbol MMA.

Midnight Sun has earned a 60% interest  in the Solwezi Licences, and has since agreed to a term sheet and letter of intent to purchase the remaining 40%. The Solwezi Licences are adjacent to First Quantum’s Kansanshi Mine; Africa’s largest copper mining complex, on the prolific Zambia-Congo Copper Belt.

The Solwezi Licences are comprised of two (2) individual prospecting licences totalling 506 km2, located in the North-Western Province of Zambia approximately 450 km from the capital city, Lusaka.

Led by experienced directors and talented management, Midnight Sun aims to further explore the impressive mineralization and anomalies that have recently been discovered on the Solwezi Permits.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Brett A. Richards – President and Chief Executive Officer

For Further Information Contact:

Brett A. Richards
President and Chief Executive Officer
Tel: +1 905 449 1500
Al Fabbro
Lead Director
Tel: +1 604 351 8850

NEITHER THE 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 NEW RELEASE.

These securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

This news release includes certain statements that may be deemed as “forward-looking statements”. All statements in this release, other than statements of historical facts, the expected completion of any Offering, and the expected use of proceeds are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include: changes in market conditions, unsuccessful exploration results, changes in the price of commodities (particularly copper, cobalt, gold and nickel), unanticipated changes in key management personnel and general social, economic or geo-political conditions. Mining exploration and development is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward–looking statement that may be from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Midnight Sun Signs Binding Letter Of Intent And Term Sheet To Acquire Remaining 40% Of Zambian Licences

Vancouver, British Columbia, February 20, 2018 – Midnight Sun Mining Corp. (the “Company”, “MMA” or “Midnight Sun”) (TSX-V: MMA) is pleased to announce that it has signed a binding letter of intent and term sheet (the “Binding Letter and Term Sheet”) with Kam Chuen Resource Holdings Inc. (“Kam Chuen”), its joint venture partner in Zambian High Light Mining Investment Limited (“ZHLMIL”), to acquire the remaining 40% interest in ZHLMIL (the “Purchased Shares”).

Midnight Sun Agrees to Acquire Kam Chuen’s Outstanding 40% Ownership in the Licences

Midnight Sun previously satisfied its obligations under the Option Agreement with Kam Chuen, originally announced on November 29, 2013, pursuant to which it acquired a 60% interest in the Solwezi Group of Exploration Licences (the “Licences”) from Kam Chuen, as shown in Illustration 1.0 – The Solwezi Group of Licences.

On February 18, 2018, Midnight Sun and Kam Chuen signed a Binding Letter of Intent and Term Sheet for the Company to acquire the remaining 40% interest in ZHLMIL for aggregate consideration of CA $30 million in cash payable over time, as illustrated below in Table 1.0 below (the “Acquisition”).  The Acquisition will give Midnight Sun 100% equity ownership of ZHLMIL, which holds the Licences, and Kam Chuen will maintain a 2% net smelter returns royalty covering the Licenses.

The Company’s President and Chief Executive Officer, Brett Richards stated: “The acquisition of the remaining 40% of Zambian High Light Mining Investment Limited represents tremendous value and future optionality for Midnight Sun shareholders. With Midnight Sun now controlling 100% of the Licences, it will be able to efficiently drive and execute on its work programs in 2018 and 2019 by controlling all aspects of the exploration project.  Assuming positive results in our forthcoming programs, I feel that the deferred payment structure provides Midnight Sun with adequate time to complete a large portion of our exploration work, whereby the increase in value will more than substantiate the current valuation of the payment structure.  By owning 100% of the Licences, it also makes potential new partnerships and joint ventures much more attractive to third parties.”

Table 1.0 – Deferred Consideration Payments

Completion of the Acquisition is subject to a number of customary closing conditions, including, but not limited to, the Purchased Shares not being subject to any encumbrances or transfer restrictions; TSX Venture Exchange conditional approval of the Acquisition; no material adverse change to ZHLMIL; and that any other required Zambian corporate or securities law approvals shall have been obtained.

As security for the deferred consideration payments, a portion of the Purchased Shares will be placed in escrow by MMA with an escrow agent on closing of the Acquisition and will be held as security in favour of Kam Chuen.  A proportionate amount of the Purchased Shares will be released to MMA as the deferred payments are satisfied. In the event of a payment default by MMA, the escrowed Purchased Shares will represent the sole and absolute recourse of Kam Chuen.  As part of the definitive documents for the Acquisition, MMA and Kam Chuen will enter into a shareholder and governance agreement for ZHLMIL in the event of any reacquisition of the Purchased Shares by Kam Chuen following any default by MMA.

Entities affiliated with Kam Chuen hold 9,437,500 common shares of the Company (representing approximately 12.32% of the outstanding shares), and as such, the Acquisition constitutes a “related party transaction” under Multilateral Instrument 61-101 – Protection of Security Holders in Special Transactions (“MI 61-101”). Accordingly, the Company is required to obtain “minority approval” (as such term is defined in MI 61-101) of the Acquisition at a special meeting of shareholders of MMA. Additional details regarding the date of the special meeting of shareholders of the Company to approve the Acquisition will be provided to shareholders in due course.

The Solwezi Group of Exploration Licences

The Licences consist of two individual exploration licences, 21509-HQ-LEL (formerly 14039-HQ-LPL) and 12124-HQ-LEL, covering over 506 km2 of surface area.  The Licences are located in the Northern province of Zambia, adjacent to Africa’s largest copper producer, the Kansanshi Mining Complex, on the prolific Zambia-Congo Copper Belt.

Illustration 1.0 – Solwezi Group of Licences

 Please also refer to the Company’s previous news releases as well as the Company’s presentation on its website at:  www.midnightsunmining.com.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Brett A. Richards – President and Chief Executive Officer

For Further Information Contact:

Brett A. Richards                                                         Al Fabbro

President and Chief Executive Officer                       Lead Director

Tel:  +1 905 449 1500                                                 Tel:  +1 604 351 8850

NEITHER THE 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 NEW RELEASE.

This news release includes certain statements that may be deemed as “forward-looking statements” within the meaning of applicable Canadian securities laws.  All statements in this release, other than statements of historical facts, are forward-looking statements, including, without limitation, statements pertaining to completion of the Acquisition and any approvals required in connection with the Acquisition.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.  Factors that could cause actual results to differ materially from those in the forward-looking statements include:  changes in market conditions, unsuccessful exploration results, changes in the price of commodities (particularly copper, cobalt, gold and nickel), unanticipated changes in key management personnel and general social, economic or geo-political conditions.  Mining exploration and development is an inherently risky business.  Accordingly the actual events may differ materially from those projected in the forward-looking statements.  This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements.  These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements.  The Company does not undertake to update any forward–looking statement that may be from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Midnight Sun Mining Provides Corporate Update

Vancouver, British Columbia, January 31, 2018 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA) provides a corporate update and announces its exploration plans for 2018.

Solwezi Licenses Option Agreement Vesting

Midnight Sun has satisfied all of its obligations under the Option Agreement with Kam Chuen Resource Holdings Ltd. (“Kam Chuen”) and has earned a 60% interest in the Solwezi Group of Exploration Licences (the “Licences”) (See November 29, 2013 news release titled “Midnight Sun Signs Definitive Option Agreement for Exploration Permits in Zambia”).

The Licences consist of two individual exploration licences, 21509-HQ-LEL (formerly 14039-HQ-LPL) and 12124-HQ-LEL (as shown below in Illustration 1.0 – Solwezi Group of Licences), covering over 506 km2 of surface area.  The Licences are located in northern Zambia, adjacent to Africa’s largest copper producer, the Kansanshi Mine, on the prolific Zambia-Congo Copper Belt. Having satisfied all obligations under the option agreement, the Company is now in the process of formalising a shareholders and governance agreement with Kam Chuen to govern the further exploration and operation of the Licenses as a joint venture.

2018 Exploration Program

The Company is planning a comprehensive exploration program for 2018, beginning in April, immediately after the rainy season in northern Zambia.

Initially, Midnight Sun will conduct an airborne geophysical survey [Heli-borne Versatile Time Domain Electromagnetic (“VTEM”)] over the three main targets: Mitu, 22 Zone and Dumbwa (north and central), and the additional prospective targets of Khaziba and Kifubwe.

Once completed, the Company will prepare a comparative interpretation utilizing the new data from the VTEM survey and the known drill data from its 2016 and 2017 drilling campaign to determine primary and secondary drill targets on the 3 main mineralized areas, with a principle focus on Mitu.

The Company’s President and Chief Executive Officer, Brett Richards stated: “This year, Midnight Sun is going to increase capacity in almost every area of its business.  We are going to increase our presence and activities on the ground in Zambia and will be ramping up with multiple geological teams to quickly and efficiently understand the prospective targets than have been located and proven from our campaign last year.  We intend to initiate the forthcoming season starting with an airborne geophysical program over the licences, followed by a ground geo-physical program and an aggressive drilling campaign on each of the targets identified:  Mitu, 22 Zone and Dumbwa (North and Central).”


Illustration 1.0 – Solwezi Group of Licences

2016 and 2017 Exploration Work

The focus of the 2016 and 2017 exploration programs and drill campaigns was to expand and further define the extent of the previously announced ore-shale type copper-cobalt discovery at the Mitu area of the Solwezi Licences.  These programs included drill hole MDD-17-15 which stepped out 3.72 kilometres (“km”) southeast from discovery hole MDD-16-01, and reported 3.44% copper, 0.067% cobalt, 0.058% nickel and 331 parts per billion gold (4.23% copper equivalent) over 11.6 meters (see news releases dated January 12, 2017; February 10, 2017; May 3, 2017; and July 4, 2017).

A secondary focus of the 2016 and 2017 joint campaign was to understand the mineralization and lithology of the two other regional targets on the Licenses, identified as 22 Zone and Dumbwa (north and central).

Please refer to the Company’s previous New Releases as well as the Company presentation on its website at:  www.midnightsunmining.com.

Warrant Exercise

During January 2018, the Company received gross proceeds of $635,800 upon the exercise of 3,179,000 share purchase warrants priced at $0.20.  The share purchase warrants were issued as part of a unit financing, which was announced on October 26, 2015 and had its final close on January 29, 2016.

Stock Option Grant

Midnight Sun has granted stock options to purchase an aggregate of 2,575,000 common shares of the Company, at an exercise price of $0.36 per share, to certain employees, consultants and directors.  The stock options are granted pursuant to Midnight Sun’s 10% rolling stock option plan, are subject to vesting provisions, and shall expire 5 years from the date of grant.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Brett A. Richards – President and Chief Executive Officer

For Further Information Contact:

Brett A. Richards
President and Chief Executive Officer
Tel:  +1 905 449 1500

Al Fabbro
Lead Director
Tel:  +1 604 351 8850

NEITHER THE 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 NEW RELEASE.

This news release includes certain statements that may be deemed as “forward-looking statements”.  All statements in this release, other than statements of historical facts, the expected completion of any Offering, and the expected use of proceeds are forward-looking statements.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.  Factors that could cause actual results to differ materially from those in the forward-looking statements include:  changes in market conditions, unsuccessful exploration results, changes in the price of commodities (particularly copper, cobalt, gold and nickel), unanticipated changes in key management personnel and general social, economic or geo-political conditions.  Mining exploration and development is an inherently risky business.  Accordingly the actual events may differ materially from those projected in the forward-looking statements.  This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements.  These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements.  The Company does not undertake to update any forward–looking statement that may be from time to time by the Company or on its behalf, except in accordance with applicable securities laws.