Mr. Robert Sibthorpe reports

MIDNIGHT SUN MINING CORP. CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT

Midnight Sun Mining Corp. has completed the second and final tranche of its previously announced non-brokered private placement by issuing 4.4 million units at a price of 10 cents per unit for gross proceeds of $440,000. Each unit consists of one common share in the capital of the company and one transferable common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company for a period of 24 months from closing, at an exercise price of 20 cents.

Finders' fees of $16,000 were paid in cash, and 120,000 finders' warrants were issued in connection with the second tranche of the private placement. Each finder's warrant entitles the holder to purchase one common share at a price of 20 cents for a period of 24 months, expiring on Dec. 2, 2018.

All securities issued pursuant to this tranche, including the common shares underlying the warrants, are subject to a statutory hold period, which expires on April 3, 2017.

In total, the company issued 10,632,000 units for gross proceeds of $1,063,200. Finders' fees of $44,256 were paid in cash, and 402,560 finders' warrants were issued in connection with the private placement.

In total, insiders of the company purchased one million units for gross proceeds of $100,000.

The net proceeds of the offering will be used by the company to finance further exploration work on its optioned Zambian mineral exploration permits, as well as general working capital.

The completion of this private placement is subject to final acceptance by the TSX Venture Exchange.