Midnight Sun Mining (MMA ) Corporate presentation summary

Investment thesis and strategic positioning

• Located in Zambia's Domes Region, a globally significant copper district with established infrastructure and a century of mining expertise.

• Two distinct value paths: the Dumbwa sulphide discovery and the Kazhiba oxide resource.

• Well-funded with multiple financing options, including potential non-dilutive capital from Kazhiba.

• Positioned to benefit from structural copper demand growth driven by electrification and AI data centers.

Geological context and discovery

• Domes Region hosts large, near-surface copper systems with proven mining infrastructure and skilled workforce.

• Dumbwa is a new basement-hosted copper discovery, sharing geological similarities with the large-scale Lumwana deposit.

• Dr. Kevin Bonel, with extensive experience at Lumwana, identified key geological parallels and now leads exploration.

• Systematic, data-driven exploration has defined 6.7 km of mineralized strike at Dumbwa, with rapid, low-cost drilling ongoing.

Dumbwa copper deposit highlights

• Discovery hole DBW-25-007 intersected 39.7m @ 0.51% Cu, including 7.0m @ 1.13% Cu; multiple stacked mineralized lenses identified.

• Over 56,855m drilled, confirming a large, continuous, near-surface copper system with emerging higher-grade domains.

• Drilling reveals grade variability and structural controls, with mineralization open along strike and at depth.

• Geological model shows a stacked, strain-controlled system, analogous to Lumwana's architecture.