Business
Midnight Sun Confirms Kazhiba Licence Remains in Good Standing
Vancouver, British Columbia--(Newsfile Corp. - September 16, 2024) - Midnight Sun Mining Corporat...
About this update from Midnight Sun Mining Corp.
[{"type":"text","content":"Midnight Sun Confirms Kazhiba Licence Remains in Good StandingVancouver, British Columbia--(Newsfile Corp. - September 16, 2024) - Midnight Sun Mining Corporation (TSXV: MMA) (OTC Pink: MDNGF) (\"Midnight Sun\" or the \"Company\") announces that, further to its August 29, 2024 news release, the renewal application for Large Scale Exploration Licence 21509-HQ-LEL (the \"Licence\"), which includes the Kazhiba target, was never rejected as had been previously indicated, incorrectly, in an online public notice dated June 17, 2024. The Mining Cadastre Portal has since been updated to reflect this. The Zambian Ministry of Mines and Minerals Development (the \"Ministry\") has notified the Company in writing that the decision to accept the Company's renewal application was, in fact, deferred to a later meeting of the Mineral Licencing Committee. At this time, the Licence, as outlined in the Company's renewal application, remains in good standing.Midnight Sun's President & CEO, Al Fabbro, stated: \"As a component of the Cooperative Exploration Plan with our neighbours, First Quantum Minerals, our Kazhiba Target represents an exciting opportunity for Midnight Sun to enter near-term production. We are tremendously pleased that this licence issue was able to be rectified quickly and did not create significant disruption to the execution or timing of our plans. I thank our team members in both Zambia and Canada who worked diligently to address and remedy this matter swiftly. I would also like to thank the Zambian Ministry of Mines and Minerals Development for their assistance in rectifying this matter so we can resume our exploration plans. We are now ready to begin our planned work programs.\"Kazhiba Licence Issue DetailsOn December 1, 2023, the Company filed an application for the renewal of the Licence, which includes the Kazhiba target. Under Zambian mining law, large scale exploration licences are issued for a four-year period, and may be renewed, on application, for up to two additional three-year periods. The Licence was originally issued March 1, 2017, and renewed February 28, 2021. The status of the Licence was incorrectly identified in an online public notice dated June 17, 2024. This incorrect information was subsequently posted on the Mining Cadastre Portal, stating that the Licence had been rejected. In August 2024, it was d...