Midnight Sun Mining Corp. Completes Second Tranche of Private Placement

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / December 3, 2018 / Midnight Sun Mining Corp. (the "Company" or "Midnight Sun") (TSX-V: MMA) is pleased to announce the completion of the second tranche of its previously announced non-brokered private placement by issuing 2,575,000 units (the "Units") at a price of $0.12 per Unit for gross proceeds of $309,000. Each Unit consists of one common share ("Common Share") in the capital of the Company and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share of the Company for a period of twelve months from closing, at an exercise price of $0.20.

The Company has agreed to pay finder's fees of $19,632.00 in cash and 163,600 finder's warrants in connection with this tranche of the Private Placement. Each finder's warrant will entitle the holder to purchase one common share at a price of $0.20 for a period of twelve months, expiring on November 30, 2019.

The net proceeds of the Offering will be used by the Company to fund exploration work on its Zambian mineral properties as well as general working capital.

All securities issued pursuant to this tranche, including the Common Shares underlying the Warrants, are subject to a statutory hold period which expires on April 1, 2019.

The completion of this private placement and the issuance of all Common Shares and Warrantsis subject to final acceptance by the TSX Venture Exchange.

ON BEHALF OF THE Midnight Sun Mining Corp. BOARD OF DIRECTORS

Brett A. Richards - President and Chief Executive Officer

For Further Information Contact:

Al Fabbro
Lead Director
Tel: +1 604 351 8850

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.

These securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

SOURCE: Midnight Sun Mining Corp.