Midnight Sun Announces Resignation of CEO
VANCOUVER, December 20, 2018 - Midnight Sun Mining Corp. (the "Company" or "Midnight Sun") (TSX-V: MMA) announces that Brett Richards has resigned as President and Chief Executive Officer (together, "CEO"), effective as of December 21, 2018.
Mr. Richards will remain as a Director of the Company and will participate in the Board's process of identifying new candidates for the CEO position. Until a new CEO is appointed, Lead Director and former CEO of the Company, Al Fabbro, will serve as Interim CEO.
"While other commitments have forced me to resign as CEO, my belief in Midnight Sun has not waivered, as demonstrated by my continued purchase of shares in the market and participation in the most recent financing" stated Mr. Richards. "I look forward to supporting the Company in every way that I can, and I have complete confidence in the abilities of the existing executive team."
The Company's Board of Directors has initiated a search to identify a new president and chief executive officer of the Company. Until a new CEO is appointed the Board is confident the current management team, under the leadership ofMr. Fabbro, has the experience and commitment to advance the Company's Solwezi Licenses and unlock their potential.
ABOUT MIDNIGHT SUN
Midnight Sun has earned a 60% interest in the Solwezi Licences which cover 506 square kilometres in the prolific Zambia-Congo Copper Belt and are in the North-Western Province of Zambia, adjacent to First Quantum’s Kansanshi Mine; Africa's largest copper mining complex. The Company has recently received the raw data from a 3,889 line-kilometre Versatile Time Domain Electromagnetic ("VTEM") airborne geophysical survey covering the Solwezi Licences and will release results as interpretations are received. During 2019 the Company plans to advance discoveries on the Solwezi Licenses at Mitu (copper- cobalt) and the 22 Zone (copper) as well as test significant anomalies identified during 2018.
ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.
Al Fabbro - Lead Director
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 NEW RELEASE.
This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, changes in market conditions, unsuccessful exploration results, changes in commodity prices, unanticipated changes in key management personnel and general economic conditions. Mining exploration and development is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
SOURCE: Midnight Sun Mining Corp.