Midnight Sun Expands Dumbwa Footprint with Strategic Mulundu Licence Earn-In

Midnight Sun Mining Corp. has entered into an Earn-In and Operating Agreement with Mulundu Holdings Limited to acquire an interest in the 62 square kilometre Mulundu Licence, located within the Solwezi Project in Zambia. The acquisition is driven by recent geophysical interpretations at the Dumbwa Trend suggesting the mineralized system extends northwest onto the Mulundu Licence.

The transaction follows a four-stage earn-in process. Stage 1 requires a $25,000 USD payment within one week. Stage 2 involves the preparation and submission of environmental documentation and ZEMA clearance. Within 24 months of Stage 2, Midnight Sun may earn a 51% interest by funding CAD$750,000 in exploration and development. Following Stage 3, the company holds the right to earn an additional 29%, bringing the aggregate interest to 80%, by funding an additional CAD$3,000,000 within 36 months.

A joint venture entity will hold the licence post-earn-in. Dilution below 10% converts the interest to a 2% Net Smelter Royalty (NSR), with a buyout option at CAD$1 million. Qualified Person Darin Labrenz, P.Geo., has approved the technical data.

Midnight Sun Mining Corp. (MMA) has acquired the Mulundu Licence, a move that aligns with its Phase 2 exploration strategy to expand the Dumbwa system northward. The acquisition de-risks the geological hypothesis that the Dumbwa trend continues beyond the current licence boundary, providing the company with the land package necessary to test the full ~20 km copper-in-soil anomaly. This planned exploration expansion follows the progression of drilling results, which have shown a strike extension from 3.6 km to 6.7 km over the past year.

Financially, the immediate cash requirement is minimal, consisting of $25,000 USD plus environmental clearance costs. Future earn-in expenditures total CAD$3.75 million, an amount fully absorbable given the company's $18.21 million cash balance and zero debt. The news does not contain unexpected market-moving information.

Midnight Sun Mining Corp. is an exploration-stage copper company focused on the Solwezi Project in Zambia's Domes Region. Its flagship asset is the Dumbwa copper deposit, a basement-hosted, strain-controlled sulphide copper system. Drilling has confirmed continuous near-surface mineralization over 6.7 km of strike, with a target corridor extending approximately 20 km.

The company also holds the Kazhiba Main copper oxide deposit as a secondary asset. A maiden resource has been defined at 2.33 million tonnes of Indicated resources grading 1.41% Cu. This deposit is positioned for potential monetization to fund the advancement of the Dumbwa project. The company is currently in the exploration and resource definition stage, with no commercial production or revenues.