Reply To: Midnight Sun Mining TSXV:MMA, OTC MDNGF

Pretty quiet here for a stock that has doubled in the last few months. Latest news is Kobold out.

Midnight Sun Mining Corp.’s previously announced Dumbwa earn-in agreement with KoBold Metals Company (see news release dated Feb. 20, 2024) has been terminated. Midnight Sun retains 100-per-cent 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 fieldwork 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 chief operating officer, Dr. Kevin Bonel.

Al Fabbro, Midnight Sun’s president and chief executive officer, 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 sulphide 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 analogue 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 superpit expansion at the mine, which would lead to doubling the mine’s annual copper production.