Midnight Sun to Retain 100% Interest in Dumbwa Target

Midnight Sun Unveils Dumbwa Exploration Plans for 2025 led by Dr. Kevin Bonel

Vancouver, British Columbia--(Newsfile Corp. - February 18, 2025) - Midnight Sun Mining Corp. (TSXV: MMA) (OTC Pink: MDNGF) ("Midnight Sun" or the "Company") announces that the previously announced Dumbwa earn-in agreement with KoBold Metals Company ("KoBold") (see news release dated February 20^th, 2024) has been terminated. Midnight Sun retains 100% ownership of its flagship Dumbwa Target, one of four key targets on the Company's Solwezi Project in Zambia. Since announcement of the earn-in, no field work was carried out by KoBold on Dumbwa. Midnight Sun is preparing to launch a 2025 Dumbwa exploration program under the direction of Midnight Sun's COO, Dr. Kevin Bonel.

Midnight Sun's President & CEO, Al Fabbro, stated: "Midnight Sun has remained one of the longest standing explorers in the heart of the prolific Domes Region of Zambia. For 13 years, we have explored our vast land package, making significant discoveries of both high-grade oxide copper near surface, and high-grade sulfide copper mineralization at depth. We have never lost sight of the unique position we are in, to explore multiple top-tier copper targets in arguably the top location in the world for copper discovery. The Domes Region of Zambia is undeniably special, as evidenced by the world-class mining companies and the mines they operate surrounding us.

"Dumbwa is a huge, high-grade exploration target, featuring a 20 kilometre long copper-in-soil anomaly that represents an incredible opportunity for Midnight Sun to make a transformative copper discovery. Dumbwa has long been seen as an analog to Barrick's billion tonne Lumwana Mine, located just west of us, which features almost identical geology. Lumwana has just undergone a major transition, leading to Barrick's announcement of a new feasibility study for a super-pit expansion at the mine which would lead to doubling the mine's annual copper production.¹

"Dr. Bonel, the geologist responsible for leading the exploration team that transformed Lumwana into a tier-one asset, joined our team this past year. We now have his expertise driving Midnight Sun's exploration at Dumbwa. Beyond Lumwana, Kevin has a career's worth of experience in the belt, and several major discoveries to his credit. We have already seen his effectiveness, having recently led the successful drilling campaign completed on our Kazhiba Target, confirming very high-grade oxide copper mineralization, identifying extensions and additional targets, and firmly establishing proof of concept for our oxide copper plans with First Quantum.