Midnight Sun Appoints Adrian Karolko Vice President, Exploration

Rhea-AI Summary

Midnight Sun Mining (TSXV: MMA) (OTC: MDNGF) has appointed Adrian Karolko, P. Geo, as Vice President of Exploration. Karolko brings 18 years of mineral exploration experience across various commodities and global jurisdictions. He was recently part of the Pre-Feasibility and Feasibility team for Lumina Gold's Cangrejos gold-copper project and served as Exploration Manager at Miedzi Copper Corp, where he co-discovered the Nowa Sol copper-silver deposit. The company also announced Robert Sibthorpe's transition to Chairman Emeritus while remaining on the board, Matt MacKenzie's promotion to Executive Vice President, and the grant of 3,550,000 stock options at $0.60 per share to company personnel.

Positive

• Appointment of experienced VP Exploration with 18 years of expertise across multiple commodities and jurisdictions
• New VP was involved in Cangrejos project recently acquired for $581 million by CMOC
• Co-credited with discovery of Nowa Sol copper-silver deposit in Poland
• Strengthening of technical team with both new VP and existing COO

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - June 10, 2025) - Midnight Sun Mining Corp. (TSXV: MMA) (OTC Pink: MDNGF) (the "Company" or "Midnight Sun")  is pleased to announce the appointment of Adrian Karolko, P. Geo, as Vice President, Exploration. In his new role, Mr. Karolko will work directly with the Company's COO, Kevin Bonel, further bolstering Midnight Sun's technical team.

Mr. Karolko brings over 18 years of mineral exploration experience across a wide variety of commodities including base metals, gold, uranium, and specialty metals from jurisdictions including Africa, Europe, South America, Canada, and the United States. Most recently, he was an active member of the Pre-Feasibility and Feasibility team on the Cangrejos gold-copper porphyry deposit in Ecuador, owned by Lumina Gold Corp., which recently announced its $581 million acquisition by CMOC Singapore Pte. Ltd. Concurrent to that role, Mr. Karolko served as Exploration Manager for Miedzi Copper Corp., a privately held company headed by Ross Beaty, and is co-credited with the discovery of the Nowa Sol copper-silver stratabound deposit in western Poland. Mr. Karolko has served as a Qualified Professional Geologist on numerous projects, with multiple operators globally, and brings strong leadership and technical skillsets to the Midnight Sun team.

Al Fabbro, Midnight Sun's President & CEO, stated, "On behalf of our board of directors and management team, I am pleased to welcome Adrian Karolko as our new Vice President of Exploration. Adrian brings with him a wealth of experience, including contributions to the Solwezi Project during our early years in Zambia. We are thrilled to have him return and his extensive expertise gained over the past decade will complement the efforts of Dr. Kevin Bonel, forming a dynamic technical tag-team advancing our Zambian assets. I believe the continued expansion of our corporate, technical, and advisory teams with high quality talent underscores the strength and merits of the projects.

"As Adrian steps into his new role, I would also like to extend my sincere appreciation to Robert Sibthorpe for his outstanding contributions to the company, particularly his role in identifying and securing the Solwezi Project in 2013. His dedication and expertise have been vital to our progress, and we are grateful for his continued commitment to consult and advise our technical team."

With Mr. Karolko's appointment, Robert Sibthorpe has stepped down as Vice President, Exploration and has accepted the title of Chairman Emeritus of Midnight Sun, recognizing his many years of contribution to the Company. Mr. Sibthorpe will continue to serve on the board of directors as well as contribute to Midnight Sun's technical team in an advisory capacity.

Additionally, Matt MacKenzie's title has changed from Vice President, Corporate Development to Executive Vice President, better reflecting his senior role in the Company. Mr. MacKenzie will also continue as Midnight Sun's Corporate Secretary.

Stock Option Grant

Pursuant to the Company's 10% rolling stock option plan, Midnight Sun has granted stock options to purchase an aggregate of 3,550,000 Common Shares of the Company, at an exercise price of $0.60 per share, to certain directors, officers, employees, and consultants. These stock options are fully vested upon issuance and expire five years from the date of issue.

About Midnight Sun

Midnight Sun is focused on exploring our flagship Solwezi Project, located in Zambia. Situated in the heart of the Zambia-Congo Copperbelt, the second largest copper producing region in the world, our property is vast and highly prospective. Our Solwezi Project is surrounded by 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.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Al Fabbro
President & CEO

For Further Information, Contact:
Adrian O'Brien
Director of Marketing and Communications
Tel: +1 604 809 6890
Em: adrian@midnightsunmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

This news release contains "forward-looking statements" within the meaning of the applicable Canadian securities legislation that are based on expectations, estimates, assumptions, geological theories, and projections as at the date of this news release. The information in this news release about any information herein that is not a historical fact may be "forward-looking statements." Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (which may, but not always, include phrases such as "anticipates", "plans", "scheduled", "believed" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements and are intended to identify forward-looking statements.

Although the forward-looking statements contained in this news release are based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Such factors include, among others, risks relating to the timing and ability of the Company to obtain and the timing of the approval of relevant regulatory bodies, if at all; risks relating to property interests; risks related to access to the project; risks inherent in mineral exploration, including the fact that any particular phase of exploration may be unsuccessful; the availability of contractors; geo-political risks; the global economic climate; metal prices; environmental risks; political risks; and community and non-governmental actions. Neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking statements. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255008

FAQ

Who is Adrian Karolko and what is his new role at Midnight Sun Mining (MDNGF)?

Adrian Karolko, P. Geo, has been appointed as Vice President of Exploration at Midnight Sun Mining. He brings 18 years of mineral exploration experience and will work directly with the company's COO, Kevin Bonel.

What are Adrian Karolko's notable achievements before joining Midnight Sun Mining?

Karolko was part of the Pre-Feasibility team for the Cangrejos gold-copper project (recently acquired for $581M) and co-discovered the Nowa Sol copper-silver deposit while serving as Exploration Manager at Miedzi Copper Corp.

What management changes were announced at Midnight Sun Mining (MDNGF)?

Adrian Karolko was appointed VP Exploration, Robert Sibthorpe transitioned to Chairman Emeritus while remaining on the board, and Matt MacKenzie was promoted to Executive Vice President.

How many stock options did Midnight Sun Mining grant and at what price?

Midnight Sun Mining granted 3,550,000 stock options at an exercise price of $0.60 per share to directors, officers, employees, and consultants, with a five-year expiration period.