Ground magnetics unlocks new drill targets at Dumbwa

Company now extending magnetic survey over entire Dumbwa anomaly

VANCOUVER, British Columbia, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Midnight Sun Mining Corp. (TSXV: MMA / OTCQX: MDNGF) (“Midnight Sun” or the “Company”) is pleased to announce that an initial high-resolution ground magnetic survey on its wholly owned Dumbwa copper deposit, located in Solwezi, Zambia, has identified multiple new exploration targets outside the previously defined and drilled mineralized corridor.

The magnetic survey covered an area of approximately 2.7 kilometres (“km”) by 2.5 km in the northern portion of Dumbwa’s Central Mineralized Block. Data was collected along north-south survey lines spaced 100 metres (“m”) apart, with east-west tie lines spaced at 250 m intervals (Figures 1 and 2).

The survey successfully identified distinct magnetic signatures associated with drill confirmed copper mineralization. These same signatures appear in areas off the known mineralized corridor that had not been previously identified or tested yet. Visuals from initial testing of one such newly identified ground magnetic anomaly appears to support the correlation. Based on these results, Midnight Sun is extending the high-resolution magnetic survey across the full ~20 km copper-in-soil anomaly.

The expanded survey is designed to both refine existing targets and identify additional prospective areas of mineralization along parallel and sympathetic structural corridors with potential to host basement-hosted sulphide copper mineralization.

Midnight Sun’s COO, Kevin Bonel, states, “We are encouraged by how effectively this ground magnetic survey has enhanced our understanding of the structural architecture of the Dumbwa deposit and its relationship to higher-grade mineralized zones. Importantly, the survey has allowed us to ‘fingerprint’ the magnetic signature associated with the Central higher-grade block and identify several analogous targets east of the main mineralized corridor. These targets will be prioritised for future drill testing and provide a compelling opportunity to identify significant additional copper mineralization and further expand Dumbwa’s rapidly growing footprint.”

Magnetic Survey Identifies New Drill Targets

The initial survey produced two key findings. First, the survey identified a distinctive pattern of rapidly changing magnetic intensity within the northern portion of the Central Mineralized Block, an area that has previously returned several significant copper intercepts, including:

DBW-25-148: 21.0 m at 0.33% Cu

DBW-25-149: 17.8 m at 0.85% Cu and 21.4 m at 0.38% Cu

DBW-26-123: 80.0 m at 0.39% Cu

This magnetic signature is interpreted to be associated with the geological and structural setting that hosts copper sulphide mineralization at Dumbwa and may provide a valuable exploration tool for identifying additional areas of prospectivity.

Second, the survey allows for the better identification of late-stage faulting that may offset mineralization across Dumbwa. Incorporating this structural information into drill planning is expected to improve the positioning of future drill collars for more effective testing of the main Dumbwa mineralized corridor.

The survey has already generated two new, untested targets for basement-hosted sulphide copper mineralization. These targets are located approximately 1 – 1.2 km east of the main Dumbwa mineralized corridor and display magnetic characteristics similar to those observed in areas that have already returned higher-grade copper mineralization.

Drilling to test these targets is planned as part of Dumbwa’s Phase 2 exploration program, scheduled to begin in Q3 2026 (Figures 3-6).

The survey has also identified a similar magnetic pattern west of the main Dumbwa mineralized corridor. This may represent an additional prospective structural corridor, and targets in this area are currently being evaluated for potential inclusion in the Phase 2 exploration program.

Geological Interpretation

The distinct, rapidly changing magnetic patterns observed within the Central Mineralized Block and at the newly identified targets are interpreted to reflect variations in the underlying lithology and structural architecture.

Competent feldspar pegmatites and amphibolites, which commonly contain higher concentrations of magnetite, are interpreted to define the margins of high-strain domains. These high-strain domains contain lower-magnetite schists that are interpreted to host the copper sulphide mineralization at Dumbwa.

Within the survey area, positive magnetic anomalies also show a spatial relationship with the mineralized structural corridor that constrains the known Dumbwa sulphide copper occurrences.

In addition, preliminary interpretation indicates a positive relationship between magnetic intensity and zones of more intense copper sulphide mineralization observed in drill core and assay results. This relationship is most apparent in the analytical signal data but can also be observed in total magnetic intensity, first vertical derivative, and second vertical derivative datasets.

These results support the Company’s previous interpretation that the Dumbwa mineralized corridor is associated with a north-south oriented positive magnetic anomaly. The high-resolution magnetic survey may therefore provide an effective tool for refining drill targeting and guiding future exploration along the full ~20 km strike extent of the Dumbwa anomaly.

Diurnal correction was done using a fixed magnetometer and two mobile units were employed to acquire magnetic data within the survey area.

Figure 1. Location of High Resolution Ground Magnetic Survey over the Dumbwa Mineralized Unit. The dashed outline is the magnetic unit identified that relates directly to mineralization.

Figure 2. Analytical Signal ground magnetics showing the strong relationship of high magnetic readings and higher grade mineralization in the Central Block. Note the two very similar looking target areas .

Figure 3. Total Magnetic Intensity ground magnetics showing the strong relationship of high magnetic readings and higher grade mineralization in the Central Block. Note the two very similar looking target areas

Qualified Person: Darin Labrenz, P.Geo., a consulting geologist for the Company and Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.

About Midnight Sun

Midnight Sun is rapidly advancing the Solwezi Copper Project, with a focus on our flagship Dumbwa copper deposit. The Project is located near the town of Solwezi in the heart of the Zambia–Congo Copperbelt, the world’s second-largest copper-producing region. This prolific mining district is renowned for hosting multiple major copper deposits, and benefits from excellent infrastructure, an established mining workforce, and a long history of successful production.

The Solwezi Copper Project is surrounded by producing copper mines, including the geologically similar Lumwana mine just west of our project and First Quantum’s Kansanshi mine - Africa’s largest integrated metallurgical processing facility, approximately 6 kilometres east of the company’s recently announced Kazhiba Oxide Resource. This highly favourable location highlights the district-scale potential of Midnight Sun’s land package.

The Dumbwa copper deposit underlays a robust 20-kilometre copper-in-soil anomaly, and ongoing drilling has demonstrated strong geological similarities to the nearby Lumwana mine, underscoring the potential scale of this new copper system.

Led by an experienced geological team with a proven track record of major discoveries in the Zambia–Congo Copperbelt and globally, Midnight Sun’s goal is to delineate Zambia’s next generational copper deposit.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP. Al Fabbro President & CEO

For Further Information Contact: Adrian O’Brien VP Business Development and Communications Tel: +1 604 809 6890 Em: adrian@midnightsunmining.com

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 NEWS RELEASE.

This news release contains “forward-looking statements” within the meaning of the applicable Canadian securities legislation that are based on expectations, estimates, assumptions, geological theories, and projections as at the date of this news release. The information in this news release about any information herein that is not a historical fact may be “forward looking statements.” Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (which may, but not always, include phrases such as “anticipates”, “expects”, “plans”, “scheduled”, “believed” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements and are intended to identify forward-looking statements.

Although the forward-looking statements contained in this news release are based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Such factors include, among others, risks relating to the timing and ability of the Company to obtain and the timing of the approval of relevant regulatory bodies, if at all; risks relating to property interests; risks related to access to the project; risks inherent in mineral exploration, including the fact that any particular phase of exploration may be unsuccessful; the availability of contractors; geo-political risks; the global economic climate; metal prices; environmental risks; political risks; and community and non-governmental actions. Further to this, geological similarities or characteristics are not guarantees or certainties of successful exploration. Neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking statements. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Infographics accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/10f5f1fa-fc4c-48d9-bd5c-9cbbc521d197

https://www.globenewswire.com/NewsRoom/AttachmentNg/c23f09c4-1b44-4b63-9f9f-939c5549a088

https://www.globenewswire.com/NewsRoom/AttachmentNg/25015264-20c1-4e48-963c-ba98695f7d30

Globe Newswire

August 6, 2026 - 3:30 AM PDT

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