Mr. Al Fabbro reports

MIDNIGHT SUN CONFIRMS HIGH GRADE DRILL INTERCEPTS AT MITU

Midnight Sun Mining Corp. has provided the remaining drill results from holes MTDD047 and MTDD048, and a summary of results from the 2022 drilling campaign on the Mitu trend, one of four key prospects which comprise the company's Solwezi project in Zambia. Initial laboratory results were received shortly after the conclusion of drilling in 2022, however the company chose to reassay select drill core in order to confirm laboratory accuracy. SGS Inspection Services Kalulushi, has now completed all assays and the company is pleased to report that initial results were confirmed, and significant mineralization was encountered. Copper mineralization intercepted at Mitu is associated with cobalt, nickel and anomalous gold. This suite of metals is comparable in mineralization style and grade with those at First Quantum's Sentinel mine, located approximately 120 kilometres west of Midnight Sun's Solwezi project.

2022 Mitu drill highlights include:

• MTDD044: 11.50 metres at 1.41 per cent copper, 0.11 per cent cobalt and 0.03 per cent nickel:
  • Including 4.15 m at 1.29 per cent copper, 0.13 per cent cobalt and 0.09 per cent nickel;
  • Including 5.80 m at 1.86 per cent copper, 0.07 per cent cobalt and 0.02 per cent nickel.
• MTDD045: 7.30 m at 0.58 per cent copper, 0.02 per cent cobalt and 0.02 per cent nickel;
• MTDD047: 26.10 m at 0.32 per cent copper, 0.07 per cent cobalt and 0.05 per cent nickel;
• MTDD048: 22.25 m at 0.39 per cent copper, 0.01 per cent cobalt and 0.01 per cent nickel.

Al Fabbro, Midnight Sun's president and chief executive officer, stated: "We are very pleased to see that these final results from Mitu are consistent with earlier drilling. Though delays are never ideal, confirming our initial results was a prudent step toward developing a sound technical model and establishing our future plans for this key component of our Solwezi project. Our 2022 exploration program has accomplished precisely what we had hoped for, which is proof of concept. This new work has revealed more insight into the mineralization at Mitu, and most exciting for our team is the revelation that the geology at Mitu is consistent with that of First Quantum's Sentinel mine, located a short distance to the west. We have long believed that there could be multiple large geological systems on our 506-square-kilometre property, and this not only establishes an analogue for Mitu, but strengthens our belief that more than one generational copper deposit may exist on our property."

Midnight Sun completed 17 diamond drill holes totalling 3,559 metres on the Solwezi project during the 2022 field season, consisting of seven holes at the Mitu trend target area and 10 holes at the Crunch zone target area. Initial results were announced on Nov. 7, 2022. The 2022 drilling program resulted from a review of available date and culminated in a set of drill targets that included a new look at existing target areas as well as newly defined targets interpreted from high-resolution geophysical data over the project area.

Quality control/quality assurance

Samples obtained during the diamond drilling were transported directly to SGS Inspection Services in Kalulushi, Zambia, by Midnight Sun personnel for sample preparation. There the samples were sorted, dried, crushed and pulped before final chemical analysis using ICP42S method which encompasses a three- or four-acid digest followed by an AAS multielement scan. All samples returning over 10,000 parts per million Cu were automatically reassayed for higher level concentrations by SGS, which is a fully accredited laboratory. Standards and blanks were inserted regularly in the sample stream and checks were done for Cu. A subset of pulps from MTDD044 and MTDD045 were selected and airfreight to SGS South Africa for gold analysis by fire assay.

Qualified person

Richard Mazur, PGeo, a director of the company, and a qualified person under National Instrument 43-101, has reviewed and approved the technical data and contents of this release.

About Midnight Sun Mining Corp.

Midnight Sun is focused on exploring the company's flagship Solwezi project, located in Zambia. Situated in the heart of the Zambian copper belt, the second-largest copper producing region in the world, its property is vast and highly prospective. The company's 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 intends to find and develop Zambia's next generational copper deposit.

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