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MMA.V ·

Midnight Sun Announces Warrant Extension

Share Capital & Compensation

MIDNIGHT SUN ANNOUNCES WARRANT EXTENSION

Vancouver, British Columbia, June 23, 2023 – Midnight Sun Mining Corp. (the “Company” or “Midnight

Sun”) (TSX -V: MMA / OTCQB: MDNGF) intends to extend the exercise period of a total of 5,619,714

share purchase warrants, all of which are exercisable at $0.50 per common share (collectively, the

"Warrants"). The Warrants were issued pursuant to a private placement which closed on July 2, 2 021.

The Company proposes to extend the expiry dates for these Warrants by an additional twelve months

and accordingly, the new expiry dates for the Warrants will be July 2, 2024.

All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to

acceptance by the TSX Venture Exchange.

About Midnight Sun

Midnight Sun is focused on its flagship Solwezi Project, located in Zambia. S urrounded by world -class

copper mines, including Africa’s largest copper mining complex , First Quantum Minerals’ Kansanshi

Mine, the Solwezi Project is vast, highly prospective, and located in the second largest copper producing

region in the world . Led by an experienced geological team with multiple discoveries and mines around

the world to their c redit, 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: [email protected]

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 NEW RELEASE.