Midnight Sun Confirms High Grade Drill Intercepts At MITU

Copper mineralisation style and grade similar to Sentinel Mine

Vancouver, British Columbia, July 25, 2023 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA / OTCQB: MDNGF) is pleased to provide the remaining drill results from holes MTDD047 and MTDD048, and a summary of results from the 2022 drilling campaign on the Mitu Trend, one of four key prospects which comprise the Company’s Solwezi Project in Zambia. Initial laboratory results were received shortly after the conclusion of drilling in 2022, however the Company chose to re-assay select drill core in order to confirm laboratory accuracy. SGS Inspection Services Kalulushi, has now completed all assays and the Company is pleased to report that initial results were confirmed, and significant mineralisation was encountered. Copper mineralisation intercepted at Mitu is associated with cobalt, nickel, and anomalous gold. This suite of metals is comparable in mineralization style and grade to those at First Quantum’s Sentinel Mine, located approximately 120 kilometres west of Midnight Sun’s Solwezi Project.

2022 Mitu Drill Highlights Include:

  • MTDD044: 11.50m @ 1.41% copper, 0.11% cobalt, and 0.03% nickel
    • Incl. 4.15m @ 1.29% copper, 0.13% cobalt, and 0.09% nickel; and
    • Incl. 5.80m @ 1.86% copper, 0.07% cobalt, and 0.02% nickel
  • MTDD045: 7.30m @ 0.58% copper, 0.02% cobalt, and 0.02% nickel
  • MTDD047: 26.10m @ 0.32% copper, 0.07% cobalt, and 0.05% nickel
  • MTDD048: 22.25m @ 0.39% copper, 0.01% cobalt, and 0.01% nickel

Al Fabbro, Midnight Sun’s President & CEO, stated: “We are very pleased to see that these final results from Mitu are consistent with earlier drilling. Though delays are never ideal, confirming our initial results was a prudent step toward developing a sound technical model and establishing our future plans for this key component of our Solwezi Project. Our 2022 exploration program has accomplished precisely what we had hoped for, which is proof of concept. This new work has revealed more insight into the mineralisation at Mitu, and most exciting for our team is the revelation that the geology at Mitu is consistent with that of First Quantum’s Sentinel Mine, located a short distance to the west. We have long believed that there could be multiple large geological systems on our 506 square kilometre property, and this not only establishes an analog for Mitu, but strengthens our belief that more than one generational copper deposit may exist on our property.”

Midnight Sun completed 17 diamond-drill-holes totaling 3,559 metres (“m”) on the Solwezi Project during the 2022 field season, consisting of 7 holes at the Mitu Trend target area and 10 holes at the Crunch Zone target area. Initial results were announced on November 7, 2022. The 2022 drilling program resulted from a review of available date and culminated in a set of drill targets that included a ‘new look’ at existing target areas as well as newly defined targets interpreted from high-resolution geophysical data over the project area.

Significant Downhole Intercepts

Hole From (m) To (m) Interval
(m)
Au g/t Cu (%) Co (%) Nickel
(%)
Cu Eq
(%)
MTDD043 32.00 34.80 2.80 not
assayed
0.12 0.01 0.20 0.65
MTDD044 9.00 12.00 3.00 not
assayed
0.10 0.00 0.01 0.16
MTDD044 13.15 16.00 2.85 not
assayed
0.12 0.01 0.02 0.24
MTDD044 18.95 31.00 12.05 not
assayed
0.14 0.00 0.02 0.23
MTDD044 51.00 55.00 4.00 0.01 0.19 0.02 0.01 0.35
MTDD044 60.00 64.85 4.85 not
assayed
0.46 0.02 0.02 0.69
MTDD044 98.00 110.00 12.00 not
assayed
0.18 0.01 0.02 0.29
MTDD044 113.50 125.0 11.5 0.10 1.41 0.11 0.03 1.92
MTDD045 52.00 57.00 5.00 not
assayed
0.18 0.01 0.09 0.43
MTDD045 146.30 149.00 2.70 not
assayed
0.14 0.01 0.01 0.22
MTDD045 149.00 156.30 7.30 not
assayed
0.58 0.02 0.02 0.72
MTDD045 157.00 168.00 11.00 0.07 0.23 0.01 0.01 0.31
MTDD045 171.30 174.00 2.70 not
assayed
0.18 0.05 0.01 0.39
MTDD047 14.40 17.40 3.00 not
assayed
0.39 0.01 0.01 0.46
MTDD047 36.40 42.90 6.50 not
assayed
0.19 0.01 0.02 0.28
MTDD047 79.30 105.4 26.10 not
assayed
0.32 0.07 0.05 0.72
MTDD048 32.40 45.90 13.50 not
assayed
0.23 0.01 0.03 0.34
MTDD048 71.50 93.75 22.25 not
assayed
0.39 0.01 0.01 0.45

Notes:

  • Reported intervals are the downhole widths. More structural and orientation data is required to determine true widths.
  • Reported intervals are calculated for zones assaying > 0.1% copper or 0.01% cobalt and containing less than 2 meters of internal waste.
  • Copper equivalent values are estimated using current metal prices of $3.75/lb copper, $15/lb cobalt, and $9.25/lb nickel. Gold has not been included in the equivalent calculation.
  • Copper equivalent values are presented for ease of interval comparison only. Metallurgical recovery factors are assumed to be 100% although the recovery factors for various metals may vary significantly.

Location of Drill Holes

Hole East North RL Azimuth Dip EOH
CRZDD001 424175 8647400 1376 -55 100 238.1
CRZDD002 424257 8647385 1376 -55 100 160.5
CRZDD003 424077 8647417 1367 -55 110 205
CRZDD004 423892 8652334 1392 -60 330 168.6
CRZDD005 423996 8647432 1359 -60 100 281.5
CRZDD006 423955 8652167 1398 -60 330 211
CRZDD007 418120 8648817 1352 -60 315 276.55
CRZDD008 424933.8 8652368 1392.31 -60 330 201.3
CRZDD009 418023.9 8648913 1362.75 -60 315 190.3
CRZDD010 419544.6 8647731 1383.54 -60 315 209.5
MTDD042 431035 8636307 1372 -60 315 242
MTDD043 431105 8636378 1372 -60 315 215.7
MTDD044 428016 8638405 1373 -60 315 217
MTDD045 427611 8638095 1357 -60 315 224.5
MTDD046 428322 8638090 1370 -60 315 245.1
MTDD047 427982 8638452 1374.6 -60 315 143.4
MTDD048 428044.2 8638435 1373.13 -60 315 141.4

Quality Control/Quality Assurance

Samples obtained during the diamond drilling were transported directly to SGS Inspection Services in Kalulushi, Zambia by Midnight Sun personnel for sample preparation. There the samples were sorted, dried, crushed, and pulped before final chemical analysis using ICP42S method which encompasses a 3 or 4 acid digest followed by an AAS multi-element scan. All samples returning >10,000 ppm Cu were automatically re-assayed for higher level concentrations by SGS, which is a fully accredited laboratory. Standards and blanks were inserted regularly in the sample stream and checks were done for Cu.  A subset of pulps from MTDD044 and MTDD045 were selected and airfreight to SGS South Africa for gold analysis by fire assay.

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.

About Midnight Sun

Midnight Sun is focused on exploring our flagship Solwezi Project, located in Zambia. Situated in the heart of the Zambian Copper Belt, the second largest copper producing region in the world, our property is vast and highly prospective. Our Solwezi Project is surrounded by world-class producing copper mines, including Africa’s largest copper mining complex right next door, First Quantum’s Kansanshi Mine. Led by an experienced geological team with multiple discoveries and mines around the world to their credit, Midnight Sun intends to find and develop Zambia’s next generational copper deposit.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Al Fabbro
President & CEO

For Further Information Contact:
Adrian O’Brien
Director of Marketing and Communications
Tel: +1 604 809 6890
Em: adrian@midnightsunmining.com

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.

Midnight Sun Announces Warrant Extension

Vancouver, British Columbia, June 23, 2023 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA / OTCQB: MDNGF) intends to extend the exercise period of a total of 5,619,714 share purchase warrants, all of which are exercisable at $0.50 per common share (collectively, the “Warrants”). The Warrants were issued pursuant to a private placement which closed on July 2, 2021. The Company proposes to extend the expiry dates for these Warrants by an additional twelve months and accordingly, the new expiry dates for the Warrants will be July 2, 2024.

All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to acceptance by the TSX Venture Exchange.

About Midnight Sun

Midnight Sun is focused on its flagship Solwezi Project, located in Zambia. Surrounded by world-class copper mines, including Africa’s largest copper mining complex, First Quantum Minerals’ Kansanshi Mine, the Solwezi Project is vast, highly prospective, and located in the second largest copper producing region in the world. Led by an experienced geological team with multiple discoveries and mines around the world to their credit, Midnight Sun intends to find and develop Zambia’s next generational copper deposit.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Al Fabbro
President & CEO

For Further Information Contact:
Adrian O’Brien
Director of Marketing and Communications
Tel: +1 604 809 6890
Em: adrian@midnightsunmining.com

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 Announces AGM Results

Vancouver, British Columbia, June 14, 2023 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA / OTCQB: MDNGF) is pleased to announce the results of its annual general meeting of shareholders (the “Meeting”). Midnight Sun’s shareholders voted in favour of each of the matters considered at the Meeting, including electing each of Allan Fabbro, Robert Sibthorpe, Richard Mazur, Wayne Moorhouse, and Brett Richards as directors of the Company to hold office for the ensuing year, appointing Davidson & Company LLP as the Company’s auditors for the ensuing year and authorizing the board of directors to set their remuneration, and approving the adoption of a new 10% rolling share option plan as described in the Information Circular.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Al Fabbro
President & CEO

For Further Information Contact:
Adrian O’Brien
Director of Marketing and Communications
Tel: +1 604 809 6890
Em: adrian@midnightsunmining.com

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 Mourns the Passing of Tookie Angus

Vancouver, British Columbia, March 27, 2023 – The Board of Directors and management of Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA / OTCQB: MDNGF) are saddened to report the passing of R. Stuart “Tookie” Angus, who had served as a strategic advisor to the Company since 2016.

Al Fabbro, President and CEO of Midnight Sun, commented “Tookie was a true giant in our industry and Midnight Sun was both fortunate and honoured to have had him as an advisor, shareholder, and friend for the past number of years. The legacy he leaves behind will not be forgotten. His loss will be felt by many, and we offer his family our sincere condolences.”

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Al Fabbro

President & CEO

For Further Information Contact:

Adrian O’Brien

Director of Marketing and Communications

Tel: +1 604 202 8165

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 Appoints Director of Marketing and Communications

Vancouver, British Columbia, March 14, 2023 – Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA / OTCQB: MDNGF) is pleased to announce the appointment of Adrian O’Brien as Director of Marketing and Communications.
With over 20 years of experience in the mineral exploration and mining industry, Mr. O’Brien has acted in various capacities and has substantial experience at the senior management level, including officers’ and directors’ responsibilities. Over the course of Mr. O’Brien’s career, he has been involved in the exploration, development, and production phases of base and precious metals projects across Canada and the U.S. including the acquisition and development of the Lac Dore Vanadium Deposit in Quebec and the development of the Jackson’s Arm Gold Deposit in Newfoundland.
Since 2019, Mr. O’Brien has served as Director of Marketing and Communications for PureGold Mining, through the development and construction of their PureGold Mine, which began gold production in 2021. Mr. O’Brien has also served as Director and President of Kermode Resources, Director and President/CEO of Pro Minerals, Vice President of Apella Resources, and as a Director of The Prospectors and Developers Association of Canada.
“We are very pleased to welcome Adrian to the Midnight Sun Team.” stated Al Fabbro, President and CEO of Midnight Sun. “He brings a tremendous depth of experience and a unique, fresh approach to shareholder communications. As we work to unlock the full potential of the Solwezi Licences in Zambia, Adrian will play a critical role, putting his unique and complementary skillset to work for Midnight Sun and its shareholders.”
Stock Option Grant
Midnight Sun has granted stock options to purchase an aggregate of 3,300,000 Common Shares of the Company, at an exercise price of $0.21 per share, to certain directors, officers, employees, and consultants. The stock options are granted pursuant to Midnight Sun’s 10% rolling stock option plan, are fully vested upon issuance, and shall 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
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.

Midnight Sun Mining Arranges Private Placement

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

Vancouver, British Columbia, January 6, 2023 — Midnight Sun Mining Corp. (the "Company" or "Midnight Sun") (TSX-V: MMA) has completed a non-brokered private placement by issuing 4,685,000 units (the "Units") at a price of $0.20 per Unit for gross proceeds of $937,000. 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 $0.30.

Finder’s fees of $58,560 will be paid in cash and 292,800 Finder’s Warrants will be issued in connection with the Private Placement. Each Finder’s Warrant entitles the Finder to purchase one Common Share of the Company for a period of twenty-four months from closing, at an exercise price of $0.30.

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 May 7, 2023. 

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

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 DEQUACY 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.