Midnight Sun Announces Significant New Targets at Kazhiba

Recently completed surveys identify significant sulphide and oxide copper targets with drill testing to commence in Q2 2025

Vancouver, British Columbia--(Newsfile Corp. - February 27, 2025) - Midnight Sun Mining Corp. (TSXV: MMA) (OTC Pink: MDNGF) ("Midnight Sun" or the "Company") is pleased to announce that results of the recently completed 2024 geochemical and geophysical exploration programs have defined significant new sulphide and oxide targets on Kazhiba. Exploration drilling is set to commence in early Q2 and is designed to concurrently test these new sulphide and oxide targets.

Partial Ionic Leach geochemistry has identified a strong copper anomaly extending over four kilometres that aligns perfectly with high chargeability, low resistivity stratigraphy as exposed by the induced polarization ("IP") survey. This new sulphide copper anomaly directly overlays a subtle, historic geochemical anomaly, and is situated in geology consistent with the majority of deposits within the Zambian Copperbelt. In addition to this new sulphide target, the partial leach geochemistry has also revealed three new copper anomalies that share a very similar geochemical signature to the known Kazhiba oxide copper occurrence, which was drilled in late 2024 (see news release dated January 29, 2025).

Midnight Sun's COO, Kevin Bonel, stated: "We are incredibly pleased with the results and brand-new targets generated by the Partial Ionic Leach sampling and IP survey. Taking the coincidence of a well-defined copper anomaly, in the 'right geology' with an underlying high chargeability, low resistivity, IP reactive unit, the geological team's confidence is high that the unexposed unit is a copper mineralised stratigraphic unit. Not only do we now have a potential sulphide source for the high-grade oxide copper mineralization at Kazhiba, but we also have additional targets for more oxide copper mineralization to explore and hopefully add to our Cooperative Explorative Plan with First Quantum. The results simply could not have been better at this stage of exploration on our Kazhiba Target."

*Graphics detailing the new Kazhiba Targets defined by Partial Ionic Leach, IP Chargeability and IP Low-Resistivity are provided below.

The New Kazhiba Targets Detailed:

In late 2024, Partial Ionic Leach sampling and an IP Survey were conducted on the Company's Kazhiba Target as part of the 2024 Exploration Program. Both produced positive results and generated several significant targets. The Partial Ionic Leach sampling produced a new copper-in-soil anomaly, which extends for approximately 4 kilometres on strike. The geology of this new target is interpreted as Katangan sediments onlapping onto older basement lithologies of the Kazhiba Dome, itself interpreted from geophysics as an unexposed, shallow, basement inlier within the Kazhiba inlier. This is the classic Zambian Copperbelt setting.

Concurrent with the partial leach geochemical sampling program, an IP survey over "Kazhiba Target 2" was undertaken, designed to test for an unexposed sulphide mineralised stratigraphic unit overlying the interpreted Kazhiba Dome. This target is proposed as a possible source of the transported oxide-copper blanket recently tested by exploration drilling.

The IP Survey has indicated a chargeable unit in the stratigraphy that is strongly correlated to the overlying Partial Ionic Leach copper anomaly. In addition, IP is indicating that the unit has very low resistivity, which is a strongly favourable characteristic.

The combination of a subtle historic geochemical anomaly, coinciding with a brand-new copper-in-soil anomaly, all of which correlate with a high chargeability, low resistivity, IP reactive unit in favourable geology, has produced a very strong target for the discovery of a new copper mineralised stratigraphic unit.

Exploration drilling is now planned for early Q2, designed to test Kazhiba Target 2 for the discovery of a new copper sulphide mineralised stratigraphic unit within the Kazhiba licence. Drilling is also planned to extend the initial oxide copper footprint delineated in recent drilling (see news release dated January 29, 2025) as well as test three new partial leach copper anomalies for additional oxide occurrences.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2553/242621_76dd9012a42d7a40_001full.jpg

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2553/242621_76dd9012a42d7a40_002full.jpg

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2553/242621_76dd9012a42d7a40_003full.jpg

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

Investor Relations Agreement

The Company has entered into an agreement with Triomphe Holdings Ltd. (dba Capital Analytica) ("Capital Analytica") for investor relations and communication services (the "Consulting Agreement"). The Consulting Agreement has an initial term of six months, commencing February 18, 2025, under which the Company will pay to Capital Analytica an aggregate of $120,000, unless terminated earlier in accordance with the Consulting Agreement.

Pursuant to the terms of the Consulting Agreement, Capital Analytica will provide ongoing capital markets consultation, ongoing social media consultation regarding engagement and enhancement, social sentiment reporting, social engagement reporting, discussion forum monitoring and reporting, corporate video dissemination, and other related investor relations services.

Capital Analytica is a Nanaimo based company owned and operated by Jeff French who is arm's length to the Company. Capital Analytica owns securities of the Company.

About Midnight Sun

Midnight Sun is focused on exploring our flagship Solwezi Project, located in Zambia. Situated in the heart of the Zambia-Congo Copperbelt, 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 goal is to find and develop Zambia's next generational copper deposit.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Al Fabbro
President & CEO

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.

This news release contains "forward-looking statements" within the meaning of the applicable Canadian securities legislation that are based on expectations, estimates, assumptions, geological theories, and projections as at the date of this news release. The information in this news release about any information herein that is not a historical fact may be "forward-looking statements." Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (which may, but not always, include phrases such as "anticipates", "plans", "scheduled", "believed" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements and are intended to identify forward-looking statements.

Although the forward-looking statements contained in this news release are based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Such factors include, among others, risks relating to the timing and ability of the Company to obtain and the timing of the approval of relevant regulatory bodies, if at all; risks relating to property interests; risks related to access to the project; risks inherent in mineral exploration, including the fact that any particular phase of exploration may be unsuccessful; geo-political risks; the global economic climate; metal prices; environmental risks; political risks; and community and non-governmental actions. Neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking statements. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242621