Slide 1: Transformative Copper Discoveries in the Heart of Zambia
T R A N S F O R M A T I V E C O P P E R D I S C O V E R I E S I N T H E H E A R T O F Z A M B I A October 28th 2024
Slide 2: Forward looking statements
Forward looking statements This Presentation is for information purposes in connection with Midnight Sun Mining, (“Midnight Sun” or the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, em
Slide 3: The Opportunity
The Opportunity Our property is large, highly prospective, and located in Zambia, in the heart of the Zambia-Congo copper belt, the second largest copper-producing region in the world1 Our vast 506 km2 property features multiple targets; each a unique opportunity for a transformative discovery We ar
Slide 4: Why Copper?
Why Copper? Copper is “The metal of electrification”. “The world is currently facing a global copper shortage, fueled by increasingly challenging supply streams in South America and higher demand pressures.”1 4 1) Source: CNBC https://www.cnbc.com/2023/02/07/there-isnt-enough-copper-in-the-world-sho
Slide 5: Zambia – A World Class Copper District
Zambia – A World Class Copper District A globally ranked “top copper producer” and mining powerhouse for +100 years Geological environment is conducive to large, high-grade and scalable copper deposits, in fact Zambia possesses one of the world’s highest-grade deposits of copper Home to world-class
Slide 6: The Heart of The Zambia-Congo Copper Belt
The Heart of The Zambia-Congo Copper Belt Surrounded by World-Class Producers 6
Slide 7: Zambia - The Domes Region
Zambia - The Domes Region Billions of Tonnes –not- Millions of Tonnes >1Bt @ ~0.66% Cu 1.03Bt @ 0.51% Cu 960 Mt @ 0.55% Cu 7
Slide 8: Our Discoveries VS World-Class Producers
Our Discoveries VS World-Class Producers Comparison by Grade1,2,3 LUMWANA KANSANSHI SENTINEL 0.55% Cu 0.66% Cu 0.51% Cu 20 km from Midnight Sun ~10 km from Midnight Sun ~120 km from Midnight Sun MIDNIGHT SUN Dumbwa Soil Anomaly >20 km up to 0.73% Cu Drill highlights include 29 m of 0.7% Cu incl 16.5
Slide 9: Multiple Unique Opportunities For A Transformative Discovery
Multiple Unique Opportunities For A Transformative Discovery 5062 km’s of optimal geology, with discoveries across our entire property >1Bt @ ~0.66% Cu Multiple, separate geological systems within the boundaries of our property Multiple Targets - Each represents a significant and distinct opportunit
Slide 10: Dumbwa
DUMBWA A TIER-ONE EXPLORATION TARGET KOBOLD METALS $15.5MM EARN-IN 10
Slide 11: Dumbwa Target
i Midnight Sun DUMBWA TARGET 5 km | Kundelunga | Nguba {_] Mwasha | Upper Roan sediments Hi Lower Roan sediments | Basement DC-15-03: 13m @ 0.63% Cu including 3m @ 1.3% Cu DCAC-39: >12m @ 0.65% Cu including 6m @ 1.06% Cu SDDDO6: 13.5m @ 0.77% Cu SDRCO6: >10m @ 0.75% Cu SDRCO5: 15m @ 0.71% Cu SDRC13:
Slide 12: Dumbwa – Tier 1 Exploration Target KoBold Metals Earn-In
Dumbwa – Tier 1 Exploration Target KoBold Metals Earn-In DUMBWA HIGHLIGHTS $15.5 MM1 Earn-In with KoBold Metals to explore Dumbwa >1Bt @ ~0.66% Cu KoBold can earn a 75% interest in Dumbwa, by spending $15 million in exploration and making $500,000 in cash payments over the next 4.5 years Dumbwa Targ
Slide 13: KoBold Metals Earn-In
KoBold Metals Earn-In Dumbwa Funded by Gates-backed AI Explorer • USD $15 Million in Exploration at Dumbwa, over 4.5 years • USD $500,000 in cash payments to Midnight Sun over 4.5 years • Earning-In to 75% of our Dumbwa Target. Midnight Sun retains 25% of Dumbwa • KoBold must complete $15.5 Million
Slide 14: The Geological Approach: KoBold and Midnight Sun
The Geological Approach KoBold and Midnight Sun - A Dream Team Dr.David Broughton – Chief Copper Geologist Dr. Kevin Bonel – COO, Zambia • Instrumental in several major discoveries including • +25 years' experience in Sub-Saharan Africa, most Kamoa, Kansanshi and Platreef recently with Barrick Gold’
Slide 15: Oxide Copper
OXIDE COPPER A COOPERATIVE EXPLORATION PLAN WITH FIRST QUANTUM 15
Slide 16: First Quantum Cooperative Exploration Plan
First Quantum Cooperative Exploration Plan Our Oxide-Copper Opportunity OXIDE COPPER - A NEAR-SURFACE, NEAR-TERM MINING OPPORTUNITY >1Bt @ ~0.66% Cu Cooperative Exploration plan in place with First Quantum to jointly define potential feed sources on our property, for First Quantum’s SX/EW oxide copp
Slide 17: Initial Target - Kazhiba
First Quantum Cooperative Exploration Plan Initial Target - Kazhiba Kazhiba >1Bt @ ~0.66% Cu Drilling to date, intercepted numerous high-grade intervals of oxide mineralization and identified a high-grade oxide copper blanket This included 14.2 m of 5.71% Cu with additional intercepts including 24 m
Slide 18: Kazhiba Shallow Copper Oxide Footprint
Kazhiba Shallow Copper Oxide Footprint Just The Beginning Highlights • Shallow drilling (<50 m - RAB or AC) has proven near surface copper oxide intercepts • Intercepts highly variable in thickness and grade – typical of Zambian supergene deposits • Some ‘zero’ intercepts within the target footprint
Slide 19: Initial Target - Mitu
First Quantum Cooperative Exploration Plan Initial Target - Mitu Mitu >1Bt @ ~0.66% Cu Drilling to date, intercepted numerous high-grade intervals of oxide mineralization, starting from surface Mineralization intercepted at Mitu, contained significant cobalt and nickel in addition to high grade copp
Slide 20: Near-Surface Drill Results Tell The Story
First Quantum Cooperative Exploration Plan Near-Surface Drill Results Tell The Story • 21.1m of 8.52% Cu >1Bt @ ~0.66% Cu • 4.5m of 6.31% Cu • 24m of 3.15% Cu • 8m of 5.14% Cu • 1.9m of 3.46% Cu, and 3.8m of 3.42% Cu incl. 2m of 2.41% Cu and 2m of 4.54% Cu • 14.2m of 5.71% Cu, incl. 7.2m of 9.58% Cu
Slide 21: The Blue Sky: Our Additional Targets
THE BLUE SKY OUR 3 ADDITIONAL TARGETS FOR TRANSFORMATIVE SED-EX COPPER DISCOVERY 21
Slide 22: Multiple Targets: Kazhiba Dome
Multiple Targets Kazhiba Dome KAZHIBA DOME HIGHLIGHTS 85% Owned by Midnight Sun, with option to earn 100% >1Bt @ ~0.66% Cu <10km from the Kansanshi Mine Complex Discovery holes, all near-surface include: SLZ-DD-010 - 14.2 m of 5.71% Cu SLZ-RC-002 - 24 m of 3.15% Cu SLZ-DD-005 - 8.0 m of 5.14% Cu1 Mu
Slide 23: Kazhiba Dome
Kazhiba Dome DRILL HIGHLIGHTS AT KAZHIBA DOME INCLUDE: • SLZ-RC-002 - 24.0 m of 3.15% Cu • SLZ-DD-010 – 14.2 m of 5.71% Cu • SLZ-DD-005 - 8.0 m of 5.14% Cu • SLZ-DD-001 - 4.5 m of 6.31% Cu 23 1) Source: https://www.midnightsunmining.com/zambian-properties/ 2) All reported widths are intercept widths
Slide 24: Multiple Targets: Mitu
Multiple Targets Mitu MITU HIGHLIGHTS 100% Owned by Midnight Sun >1Bt @ ~0.66% Cu Discovery holes intercepted Copper/Cobalt mineralisation, all near-surface, including: MDD-17-15 - 11.6 m of 3.44% Cu MTDD-044 - 11.5 m of 1.41% Cu1 New Analog established - Copper mineralisation style (Cu-Co-Ni-Au) an
Slide 25: Mitu Drill Highlights
Mitu Drill Highlights DRILL HIGHLIGHTS AT MITU INCLUDE: • MDD-17-15 – 11.6 m of 3.44% Cu, 0.07% Co, 0.06% Ni • MDD-16-01 - 8.0 m of 1.22% Cu, 0.09% Co, and 0.05% Ni and 14.0 m of 0.85% Cu, 0.07% Co, 0.05% Ni • MDD-16-06 – 35.6 m of 0.49% Cu, 0.03% Co, and 0.05% Ni and 9.0 m of 0.49% Cu, 0.02% Co, 0.
Slide 26: Multiple Targets: Crunch
Multiple Targets Crunch CRUNCH ZONE HIGHLIGHTS 100% owned by Midnight Sun >1Bt @ ~0.66% Cu A VTEM survey identified the largest untested continuous EM conductive target on the property at Crunch This conductive trend represents a potential new discovery occurring in the same stratigraphy as that sur
Slide 27: Largest Untested EM Target
Multiple Targets Largest Untested EM Target 13.5 km >1Bt @ ~0.66% Cu Kansanshi Mine 7.8 km Untested & continuous target, extending for over 5 km in length and 2 km strike 27 1) 0 5 Source: https://www.midnightsunmining.com/zambian-properties/
Slide 28: The Opportunity - Takeaway
The Opportunity - Takeaway • Our property is large, highly prospective, and located in Zambia, in the heart of the Zambia-Congo copper belt, the second largest copper-producing region in the world1 • Our vast 506 km2 property features multiple targets; each a unique opportunity for transformative di
Slide 29: Midnight Sun – Capital Structure
Midnight Sun – Capital Structure CAPITAL STRUCTURE Basic Shares Outstanding 165.0 million Warrants 58.0 million Options Outstanding 12.7 million Share Price $0.475 Market Capitalization $79.0 million Management & Directors 10% Corporate & Institutional 16% 52 Week Range $0.19 - $0.58 ANALYST COVERAG
Slide 30: Directors & Management
Directors & Management Al Fabbro Kevin Bonel Adrian O’Brien PRESIDENT, CEO & DIRECTOR COO, ZAMBIA DIRECTOR MARKETING & COMMUNICATIONS • Finance and mining executive and entrepreneur • Ph.D, P.Geo. Independent geologist and exploration manager • Senior Exploration Executive and Senior Marketing Execu
Slide 31: Corporate Inquiries
T R A N S F O R M A T I V E C O P P E R D I S C O V E R I E S I N T H E H E A R T O F Z A M B I A CORPORATE INQUIRIES Adrian O’Brien CORPORATE ADDRESS Director Marketing & Communications #1205 – 789 West Pender Street TSX.V: MMA 604 809 6890 Vancouver, BC V6C 1H2 OTC: MDNGF adrian@midnightsunmining.