Midnight Sun Mining Corp (MMA ) investor relations material

Conference highlights

• Strong optimism and excitement characterized the event, with a focus on commodities linked to the energy transition and a notable emphasis on Africa, particularly Zambia.

• Zambia is highlighted as a premier jurisdiction for copper exploration, with 75% of export earnings from copper and a century-long mining history.

• Major industry players are investing heavily in Zambia, including a $2 billion expansion at Lumwana and significant land acquisitions by Ivanhoe.

• The government aims to elevate Zambia to the world’s second-largest copper producer by attracting new companies and boosting output.

• Systematic exploration and drilling methodologies are being applied to maximize resource identification and minimize risk.

Project developments and exploration strategy

• The flagship Dumbwa target features a 20 km soil anomaly with high copper grades at surface, underpinned by advanced geophysical surveys and historic drill data.

• Drilling is proceeding systematically from south to north, with a goal to complete 6,500 meters (25 holes) by Christmas, building a robust block model for the first 3 km.

• The project’s scale is compared favorably to Lumwana, with a larger footprint, width, and depth, indicating significant resource potential.

• Four drill rigs are being deployed to accelerate progress, with the team aiming for rapid completion and resource definition.

• Initial drill holes are in for assay, with additional rigs and ongoing drilling to expand the resource base.

Oxide copper and near-term production

• The Kazhiba oxide copper project is advancing rapidly, leveraging proximity to First Quantum’s Kansanshi mine and its processing infrastructure.

• High-grade drill results at Kazhiba-Main (up to 21 m at 10.6% Cu) prompted a shift to focus all 160 planned holes on this area.

• The maiden NI 43-101 resource is expected by late October or early November, targeting near-term production and cash flow.

• The project benefits from high grades at surface, enabling low-cost extraction and direct delivery to Kansanshi.

• Multiple catalysts are anticipated, including drill results and resource updates, supporting ongoing valuation growth.