Midnight Sun Mining Arranges Private Placement

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

MIDNIGHT SUN MINING ARRANGES PRIVATE PLACEMENT

Vancouver, British Columbia, January 6, 202 3 -- Midnight Sun Mining Corp. (the "Company" or

"Midnight Sun") (TSX -V: MMA) has completed a non-brokered private placement by issuing 4 ,685,000

units (the "Units") at a price of $0. 20 per Unit for gross proceeds of $937,000. Each Unit consists of one

common share ("Common Share") in the cap ital of the Company and one Common Share purchase

warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share of the Company

for a period of twenty-four months from closing, at an exercise price of $0.30.

Finder’s fees of $ 58,560 will be paid in cash and 292,800 Finder’s Warrants will be issued in connecti on

with the Private Placement. Each Finder’s Warrant entitles the Finder to purchase one Common Share of

the Company for a period of twenty-four months from closing, at an exercise price of $0.30.

All securities issued pursuant to this private placement, including the Common Shares underlying the

Warrants, are subject to a statutory hold period which expires on May 7, 2023.

The net proceeds of this offering will be used by the Company fund further exploration work on its

Zambian mineral properties as well as general working capital.

The completion of this private placement remains subject to final acceptance by the TSX Venture

Exchange.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Al Fabbro

President & CEO

For Further Information Contact:

Al Fabbro

Tel: +1 604 351 8850

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.

These securities being offered have not been, and will not be, registered under the United States

Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the

United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities

Act) absent U.S. registration or an applicable exemption from the U.S. registration requirements. This

release does not constitute an offer for sale of securities in the United States.