Midnight Sun Mng Corp Stock Price, News & Analysis

Midnight Sun Mining Corp. (TSXV: MMA) (OTC: MDNGF) has received a 14-day extension from the Ministry of Mines and Minerals Development in Zambia. This extension is to allow additional time for the Geological Survey Department of Zambia (GSD) to conduct a site visit and complete a verification report for the company's Large Scale Exploration Licence 21509-HQ-LEL. The company has been informed that the GSD site visit team has been mobilized from Lusaka and is currently en route to Solwezi. This announcement follows previous news releases from September 16 and September 27, 2024, regarding the same matter.

Midnight Sun Mining Corp (TSXV: MMA) (OTC Pink: MDNGF) has received a 14-day extension from the Ministry of Mines and Minerals Development in Zambia. This extension is related to the company's Large Scale Exploration Licence 21509-HQ-LEL. The additional time will allow the Geological Survey Department of Zambia to conduct a site visit and complete the associated site verification report. This announcement follows Midnight Sun's previous news release dated September 16, 2024.

Midnight Sun Mining Corp. (TSXV: MMA) (OTC Pink: MDNGF) has initiated exploration work at the Kazhiba Target on its Solwezi Property in Zambia. This program is part of a Cooperative Exploration Plan with First Quantum Minerals, aiming to define near-surface oxide copper resources as potential feed for First Quantum's Kansanshi Mine. The current work includes 3,000 metres of reverse circulation drilling, partial ionic leach sampling, and an induced polarization survey.

The Kazhiba Target has shown promising results from previous exploration, with drill intercepts including 14.2 metres of 5.71% Cu, 24.0 metres of 3.15% Cu, and 8.0 metres of 5.14% Cu. The 2024 program aims to delineate a target suitable for processing in the Kansanshi SX/EW oxide copper processing circuit.

Midnight Sun Mining Corp (TSXV: MMA) (OTC Pink: MDNGF) has confirmed that its Large Scale Exploration Licence 21509-HQ-LEL, which includes the Kazhiba target, remains in good standing. The company clarified that the licence renewal application was not rejected, contrary to a previous incorrect online notice. The Zambian Ministry of Mines and Minerals Development has deferred the decision on the renewal application pending a site verification report.

Key points:

• The Mining Cadastre Portal has been updated to reflect the correct status of the licence
• Midnight Sun has 14 days from September 12, 2024, to submit a Verification Report
• The company is working to complete and submit the report within the given timeframe
• The Kazhiba target is part of a Cooperative Exploration Plan with First Quantum Minerals

Midnight Sun Mining Corp (TSXV: MMA) (OTC Pink: MDNGF) reports that the Zambian Ministry of Mines has rejected the renewal application for its Large Scale Exploration Licence 21509-HQ-LEL, which hosts the Kazhiba Dome target. This affects one of three licences in the Solwezi Project. The company is challenging this decision and has retained Zambian counsel to protect its interests. Meanwhile, Midnight Sun will shift focus to the Mitu copper target, part of a Cooperative Exploration Plan with First Quantum Minerals. The company aims to define potential oxide copper feed sources for the Kansanshi Mine. At Dumbwa, KoBold Metals is compiling geological data and refining its work plan. The licence issue does not impact the KoBold Earn-In Agreement or other aspects of the First Quantum partnership.

CEO.CA Technologies, a top investor social network for junior resource and venture stocks, shared exclusive updates from Midnight Sun Mining and Silver X Mining. In the latest 'Inside the Boardroom' series, insights were provided by Jose Garcia, CEO of Silver X Mining, and Adrian O'Brien, Director of Marketing & Communications at Midnight Sun Mining. CEO.CA offers a platform for global investors to connect, share knowledge, and view impactful stories about stocks, commodities, and emerging companies. The series aims to deliver firsthand knowledge from industry leaders, highlighting their vision, challenges, and strategies.

Midnight Sun Mining announced the extension of the exercise period for 5,619,714 share purchase warrants, originally issued in a private placement on July 2, 2021. The new expiry date is set to July 2, 2025, with all other terms remaining unchanged. This extension is pending approval from the TSX Venture Exchange.

The company also granted stock options to purchase 550,000 common shares to employees and consultants at $0.33 per share. These options are fully vested and will expire five years from the issue date.

Midnight Sun Mining Corp. has appointed Dr. Kevin Bonel as Chief Operating Officer for their Zambia operations. Dr. Bonel brings over 25 years of geological expertise in Sub-Saharan Africa, previously working with Barrick Gold's Lumwana Mine. His experience includes leading technical re-evaluations and discovering new mineral deposits. This appointment aligns with Midnight Sun’s aggressive exploration phase, which includes drilling projects at Dumbwa with KoBold Metals and at Kazhiba and Mitu with First Quantum. CEO Al Fabbro highlights the strategic importance of Dr. Bonel’s extensive experience, particularly with Lumwana, for future exploration efforts.

Midnight Sun Mining announces the appointment of Margot Naudie to its Advisory Board. CEO Al Fabbro highlights her expertise in capital markets and natural resources, foreseeing her contributions as important for advancing the Solwezi Project. The company has been active in 2024, engaging in a significant earn-in with KoBold Metals and collaborating with First Quantum Minerals to explore two target areas. The Solwezi Project, based in Zambia, presents substantial value potential. Ms. Naudie, President of Elephant Capital, brings over 25 years of experience in portfolio management and capital markets, with notable roles at TD Asset Management and the Canadian Pension Plan Investment Board. She holds degrees from McGill University and Richard Ivey School of Business and is a CFA Charter holder.