Midnight Sun Announces Recommencement Of 2021 Exploration Program

Vancouver, British Columbia, September 13, 2021 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA) has received notification from Rio Tinto Mining and Exploration Limited (“Rio Tinto”) that the initial 2021 exploration campaign on Midnight Sun’s Solwezi Licences has resumed after temporarily pausing at the end of June. This exploration work is being performed pursuant to the terms of the previously announced Earn-In and Joint Venture Agreement (the “Earn-In Agreement”) (see the Company’s news release dated April 27, 2020).

Exploration work to date has been focused on gaining a deeper geological understanding of the Solwezi Licences within the broader context of the various geological models hosting the significant copper mines in the area.

“Most of the mineralization on the Solwezi Licences occurs under a 40 to 50 metre thick layer of groundcover and there are very few occurrences of outcrop.” stated Al Fabbro, President and CEO of Midnight Sun, “With this cover, along with the sheer size of the 506 square kilometre land package, we share Rio Tinto’s view that the regional component, while time consuming, is a very necessary step in the exploration process to define and delineate target areas for drilling and potential development.”

Upon returning to the field, the exploration program is expected to include work at Dumbwa, Likoka and Mawemba.

Dumbwa
Dumbwa is a 20 kilometre copper-in-soil anomaly overlying basement rock where previous drilling encountered disseminated chalcopyrite and bornite with certain similarities to Barrick’s Lumwana Mine, which is approximately 60 kilometres west of the Solwezi Licences. The best hole to date at Dumbwa was drilled by a previous operator and intercepted 1.24% Cu over 16 metres starting at a depth of 164 metres (SDRC-13). The planned program includes infill soils, air core drilling, reverse circulation drilling and diamond drilling to test possible mineralization in magnetic, radiometric, and induced polarization geophysical responses.

Mawemba
Mawemba is a geophysical anomaly along the Mitu Trend which has returned positive geochemical and air core drill results similar to the original Mitu discovery area. Diamond drilling and an expanded soil survey are planned for the Mawemba target area.

Likoka
Diamond drill hole MDD-17-15 was initially drilled as a >3.7 kilometre step out from the discovery at Mitu, in the area now called Likoka, and measured 4.23% CuEq over 11.6 metres (see the Company’s news release Midnight Sun Drills 4.23% Copper Equivalent over 11.6 Meters, dated July 4, 2017). The upcoming work will tighten geochemical spacing and increase air core drill coverage of the area in preparation for a diamond drill campaign.

“I am very excited about Midnight Sun’s immediate future, and believe that Rio Tinto’s detailed, systematic approach to exploration at Solwezi is what will ultimately identify the full potential of the licence area.” said Mr. Fabbro, “The next few exploration programs will be the most important in the Company’s history and as our understanding of these licences continues to grow, so do our chances of success.”

Qualified Person: Richard Mazur, P.Geo., a Director of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Al Fabbro
President & CEO

For Further Information Contact:
Al Fabbro
President & CEO
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 “forward-looking statements.” 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 the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, changes in market conditions, unsuccessful exploration results, changes in commodity prices, unanticipated changes in key management personnel and general economic 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 made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Vancouver, British Columbia, August 23, 2021 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA) extends congratulations to President-Elect Mr. Hakainde Hichilema and the United Party for National Development on the recent Zambian General Election.

“I would like to congratulate Mr. Hichilema on his victory, and I look forward to working with his government on the creation of economic opportunities in the country through mineral exploration and development of the Solwezi Licences.” Stated Al Fabbro, President and CEO of Midnight Sun, “Additionally, I would like to acknowledge the Zambian people – they continue to show the world how deeply Zambia values democracy, as illustrated by the tremendous voter turnout, track-record of orderly elections, and peaceful transitions of power.”

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Al Fabbro
President & CEO

For Further Information Contact:
Al Fabbro
President & CEO
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 Mining Completes Private Placement

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

Vancouver, British Columbia, July 5, 2021 — Midnight Sun Mining Corp. (the "Company" or "Midnight Sun") (TSX-V: MMA) has increased and completed its previously announced non-brokered private placement by issuing 5,619,714 units (the "Units") at a price of $0.35 per Unit for gross proceeds of $1,966,900. Each Unit consists of one common share ("Common Share") in the capital of the Company and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share of the Company for a period of twenty-four months from closing, at an exercise price of $0.50.

Finder’s fees of $61,887 will be paid in cash and 176,820 Finder’s Warrants will be issued in connection with the Private Placement. 

All securities issued pursuant to this private placement, including the Common Shares underlying the Warrants, are subject to a statutory hold period which expires on November 3, 2021. 

The net proceeds of this offering will be used by the Company 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.
Al Fabbro

President & CEO

For Further Information Contact:
Al Fabbro
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 Corp. Announces Private Placement

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

Vancouver, British Columbia, June 4, 2021 — Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA) is pleased to announce a non-brokered private placement of up to 3,000,000 units (the “Units”) at a price of $0.35 per Unit for gross proceeds of $1,050,000 (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 twenty-four months from the closing of the Offering at an exercise price of $0.50. The Company intends to close the Offering as soon as practicable.

The net proceeds of the Offering will be used by the Company as general working capital.

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.

Stock Option Grant

Midnight Sun has granted stock options to purchase an aggregate of 550,000 Common Shares of the Company, at an exercise price of $0.31 per share, to certain consultants working for the Company. The stock options are granted and vest pursuant to Midnight Sun’s 10% rolling stock option plan. 350,000 of these stock options expire twelve months from the date of issue and 200,000 expire five years from the date of issue.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.
Al Fabbro
President & CEO

For Further Information Contact:
Al Fabbro
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 NEWS 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 “forward-looking statements.” All statements in this release, other than statements of historical facts, the expected completion of the 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 the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, changes in market conditions, unsuccessful exploration results, changes in commodity price, unanticipated changes in key management personnel and general economic 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 made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Rio Tinto Commences Exploration On Solwezi Copper Project

Vancouver, British Columbia, April 19, 2021 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA) is pleased to announce Rio Tinto Mining and Exploration Limited (“Rio Tinto”) have commenced their initial 2021 exploration campaign on Midnight Sun’s Solwezi Licences in Zambia. Rio Tinto is in Stage 1 of the previously announced Earn-In and Joint Venture Agreement (the “Earn-In Agreement”) (see the Company’s news release Midnight Sun Signs USD$51 Million Earn-In Agreement With Rio Tinto, dated April 27, 2020, for details of the Earn-In Agreement). The initial 2021 work program budget is USD $3,200,000 and is expected to be completed in late June. Results of this exploration work will dictate the additional budgets for 2021.

Rio Tinto’s planned initial work includes:

  • 4,000 metres of diamond and 1,900 metres of air core drilling on the Mitu trend;
  • 1,200 metres of diamond drilling to test high grade copper anomalies, identified in the Q4 2020 air core drill program, on the north side of the Solwezi Dome at the Gameno (formerly Kifubwe) Prospect; and
  • 1,600 metres of reverse circulation and 1,000 metres of air core drilling, and further mapping at Dumbwa to test a 10+ kilometre copper soil anomaly.

Rio Tinto’s Q4 2020 exploration work focused on strengthening their geological understanding of the Solwezi Licences. Emphasis was placed on identifying and modeling the geology of the Kazhiba Dome which underlies the 22 Zone, where an overturned Upper Plate and upright facing Lower Plate are separated by a mafic breccia. This geology appears similar to what is observed at the Kansanshi Mine. The work completed during this program included:

  • The reanalysis of previous air core drill samples over the Kazhiba Dome and adjacent areas;
  • 129 air core drill holes drilled on a 500 metre x 500 metre grid over the entire Kazhiba Dome;
  • The air core programme included 29 air core holes tracking an audio-frequency magnetotelluric geophysical line towards Basement and testing a mineral occurrence at the Gameno (formerly Kifubwe) Prospect;
  • The reanalysis of previous soil samples;
  • A 250 metre x 250 metre infill geochemical soil sampling grid; and
  • Six stratigraphic diamond holes, totalling 2,060 metres, designed to test the Lower Plate of the Kazhiba Dome for mineralisation.

Al Fabbro, President and CEO of Midnight Sun, stated, “After a lengthy rainy season and dealing with the difficulties of the COVID-19 pandemic, we are excited for Rio Tinto to begin the 2021 work program.  With the bulk of this initial budget committed to drilling, this has the potential to be a very pivotal season for Midnight Sun and the Solwezi Licences.”

The Solwezi Licences are comprised of two individual exploration licences totalling 506 square kilometres, situated in the North-Western Province of Zambia on the prolific Zambia-Congo Copper Belt and adjacent to Africa’s largest copper mining complex, First Quantum’s Kansanshi Mine.

Qualified Person: Richard Mazur, P.Geo., a Director of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Al Fabbro
President & CEO

For Further Information Contact:
Al Fabbro
President & CEO
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 “forward-looking statements.” 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 the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, changes in market conditions, unsuccessful exploration results, changes in commodity prices, unanticipated changes in key management personnel and general economic 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 made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.