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Midnight Sun Mining Corp.

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Midnight Sun is a Canadian mineral exploration company focused on the discovery and advancement of high-quality copper assets in the Zambian Copperbelt.

Investor website: https://midnightsunmining.com/

About

Midnight Sun is a Canadian mineral exploration company focused on the discovery and advancement of high-quality copper assets in the Zambian Copperbelt. The company holds full control of its assets, enabling efficient exploration and maximizing exposure to discovery upside. Its portfolio includes the Solwezi Project and the Luswishi Dome Project, with significant exploration success already achieved, including discoveries at Dumbwa and the Kazhiba Main Oxide-Copper Deposit. The company is strategically located near major producing operations, benefiting from established infrastructure and a proven geological setting.

Verified company data

Cash position
not discovered
Shares outstanding
217.57M
Fully diluted shares
not discovered
Mineral resource
In 2026, the Company announced the completion of a maiden Mineral Resource Estimate for the near-surface Kazhiba Main Oxide Copper Deposit. The maiden Mineral Resource Estimate (“MRE”) consists of 2.33 million tonnes of Indicated mineral resources grading 1.41% copper (Cu) at a selected base case cut-off of 0.10 % Cu over all rock type categories. This initial MRE was prepared for the Company by DMT Kai Batla PTY Ltd. and has an effective date of January 20, 2026.
Projects
["Zambia is home to a world-class copper district known as the Zambia-Congo copper belt, which features a geological environment conducive to large, high grade and scalable copper deposits, including some of the world’s largest. A welcoming jurisdiction, Zambia has been a mining powerhouse for over 100 years and remains one of the largest copper producers in Africa and globally ranked as a top copper producing region. Critical to the Zambian economy, mining is responsible for over 75% of Zambia’s export earnings. Led by an elected, pro-mining government, the sector is governed and regulated by the Mines and Minerals Development Act No. 11 of 2015. There is no question as to why Zambia is home to both world class mines and world class mining companies including First Quantum, Barrick, Rio Tinto, and Anglo American.","Our vast 384 km² Solwezi Project features numerous structural and mineralized targets and our team have made multiple significant discoveries on our property to date. We have identified 4 separate target areas which we believe to host unique geological systems, each with the potential for a significant copper discovery. The targets are our flagship Dumbwa Target, Mitu, Kazhiba (22 Zone) and Crunch Zone. At Dumbwa, we have made the first significant discovery in the belt in 22 years, identifying a vast copper system which could develop into a transformative sulphide copper deposit. At Kazhiba and Mitu, we are targeting both high-grade near-surface oxide-copper mineralization, as well as larger sulphide copper targets at depth.","Dumbwa is our flagship target – a large-scale, near-surface sulphide, basement-dome hosted copper system, geologically analogous to Barrick Mining’s nearby Lumwana Mine. The target is defined by a continuous, high-grade copper-in-soil anomaly extending over 20 km along strike and up to over 2 km in width, with peak values reaching 0.73% copper, highlighting its vast potential. Drilling is actively underway and ongoing, with a focus on rapidly and systematically defining the scale of the system. Work completed to date has already outlined more than 5 km of strike, with tight drill spacing of 50 metres east to west and 100-200 metres north to south. Our aggressive, yet phased and methodical approach is designed to efficiently build critical mass across the full 20 km system. Dumbwa is one of four key prospects within our Solwezi Project, representing a cornerstone asset in our strategy to deliver a globally significant copper discovery. Geologically, Dumbwa is closely analogous to Barrick Gold Corporation’s 1.6-billion-tonne Lumwana system, located immediately to the west. Both are basement-hosted, strain-controlled copper systems that are near-surface, north–south trending, and gently east-dipping, with mineralization hosted in laterally continuous schist units and developed across multiple stacked lenses. Importantly, Dumbwa compares favourably on several key metrics. At Lumwana, mineralization typically averages 40–60 metres in thickness beneath 20–30 metres of overburden. At Dumbwa, mineralization commonly begins at surface and averages approximately 200 metres in thickness. In addition, Dumbwa’s surface geochemical signature shows higher copper tenor and extends over a significantly longer north–south strike.","The Kazhiba Target is part of the Company’s Solwezi Project, situated in the northwestern part of the property, approximately 6 kilometres west of First Quantum’s Kansanshi Mine. Kazhiba features both near-surface targets for oxide copper as well as larger sediment-hosted sulphide copper targets. The primary target at Kazhiba, has been our Kazhiba Main Deposit, which the company carried out extensive work on over the course of 2024 and 2025, leading to the delivery of an initial MRE in January 2026. The Kazhiba Main Deposit represents an opportunity for potential near-term production and resulting cash-flow, which would provide a non-dilutive funding source for our larger sulphide copper targets including Dumbwa. Previous programs also identified several new oxide copper anomalies that share a very similar geochemical signature to the known Kazhiba Main oxide copper deposit. These new targets give us opportunity and room for growth. Kazhiba is underlain by a previously undiscovered basement dome similar to those at both Kansanshi and Solwezi. Domes are believed to be associated with the copper mineralization at nearby mines, including both First Quantum’s Kansanshi and Sentinel mines as well as Barrick’s Lumwana Mine. Mineralization at Kazhiba was discovered by follow up shallow drilling in 2012 over a subtle copper anomaly with thick overburden. The discovery hole intersected 11.3 metres of 5.71% Copper, near surface. Additional intercepts include 21 metres of 3.26% Copper and 6.4 metres of 5.08% Copper. Drill campaigns in 2013 (reverse circulation) and 2014 (diamond drilling) extended the high grade, near surface discovery. Kazhiba features several highly prospective sulphide copper target areas, which the company plans to explore in the future.","Mitu is a target area located in the southwestern portion of our Solwezi Project. Early exploration at Mitu identified “ore shale” type mineralization on the flank of the Solwezi Dome, crosscut by Kansanshi style veins. A series of near surface Cu-Co-Ni-Au intercepts, identified and confirmed copper-cobalt mineralization, including an impressive drill intercept of 11.6 metres grading 3.44% Copper. Additional drill results included: MDD-16-01 – 8.0 m of 1.22% Cu, 0.09% Co, and 0.05% Ni and 14.0 m of 1.02% Cu, 0.03% Co, 0.06% Ni; MDD-16-06 – 30.3 m of 0.49% Cu, 0.03% Co, and 0.05% Ni and 9.0 m of 0.49% Cu, 0.02% Co, 0.03% Ni; MDD-16-09 – 9.4 m of 1.03% Cu, 0.14% Co, and 0.04% Ni; MDD-16-11 – 28 m of 0.82% Cu, 0.03% Co, and 0.05% Ni. The discovery of structurally controlled Kansanshi-style mineralized veins represented an additional mineralizing event in the area and drilling delineated a 1 kilometre by 500 metre zone of mineralization which remains open. A VTEM survey carried out over the target delineated multiple conductive zones, all occurring in favourable geology, over more than 17 kilometres on strike. Further results from drilling carried out in 2022 confirmed a new and exciting revelation, concluding that copper mineralisation intercepted at Mitu is associated with cobalt, nickel, and anomalous gold. This suite of metals is comparable in mineralization style and grade to that at First Quantum’s Sentinel Mine, located approximately 120 kilometres west of Midnight Sun’s Solwezi Project. This new discovery provides proof of concept and revealed more insight into the mineralisation at Mitu, strengthening our conviction that more than one multi-generational copper deposit may exist on our 384 square kilometre property, and this establishes a new analog for Mitu.","The Crunch Zone exploration target is situated between the Kazhiba Dome in the northwest and the Solwezi Dome in the southeast. This newly identified structural target features a wedged fan of tight structural folds, located between domal structures, and linked to Kansanshi via a succession of sedimentary host rock. A VTEM survey identified the largest untested continuous EM conductive target/anomaly on the property, and this trend occurs in the same stratigraphy as that surrounding the neighbouring Kansanshi Mine. The anomaly remains largely untested & continuous for over 5 kilometres in length and 2 kilometres on strike. The sheer size and scale demonstrated by this anomaly, clearly indicates that appropriate investigation and attention is warranted. This conductive trend represents a potential new discovery at the Crunch Zone."]
Leadership
Al Fabbro – President, CEO, & Lead Director Mr. Fabbro brings more than 45 years of experience across the finance and mining sectors. From 1984 to 1990, he led retail trading at Yorkton Securities before joining the Yorkton Natural Resources Group. There, he played a key role in building and executing a financing and support model that identified high-potential grassroots and brownfield projects and advanced them from initial funding through development to production or M&A. Notable successes included Petaquilla, Bellas Gate, Fire Creek, and Toiyabe. After Yorkton, Mr. Fabbro spent a decade as an investment advisor with Canaccord Capital, specializing in natural resources, before co-founding Roxgold. Under his leadership, the Roxgold team discovered the Yaramoko gold deposit in Burkina Faso, which was developed into a high-quality mine that remains in production today. Mr. Fabbro co-founded Midnight Sun, identifying the Solwezi Project and guiding the company since its inception. Kevin Bonel – COO, Zambia Dr. Bonel, P. Geo is an experienced independent geologist and exploration manager. He has over 25 years of geological experience in Sub-Saharan Africa, most recently with Barrick Gold’s operations at the Lumwana Mine, located directly west of Midnight Sun’s Solwezi Project. He led the exploration team at Lumwana which completed a technical re-evaluation of the Lubwe copper deposit, bringing the deposit to the Pre-Feasibility Stage within 12 months, and made the discovery of a brand-new deposit, the combination of which added 25 years of reserves to the mining operation. Dr. Bonel also made the mine site discovery of the Kamaranda copper deposit at Lumwana. Prior to his work with Barrick, he managed exploration of Freeport McMoRan’s copper exploration project in Kabompo, Zambia. He was a member of the Kisanfu copper-cobalt pre-feasibility and feasibility leadership team in the DRC, and he oversaw the reinterpretation of the Munali nickel deposit in Zambia, which is now in production. He is credited with the discovery of the Mpemba Hill Ni-Cu-PGE deposit in Malawi, and the discovery of a new copper deposit near Mpongwe, Zambia. Matt MacKenzie – Executive Vice President & Corporate Secretary Mr. MacKenzie, JD, MBA began his career in finance with GE Capital and BMO Capital Markets. There he worked directly with clients in diverse fields including mineral exploration and production, oil and gas services, and transportation. Additionally, Mr. MacKenzie has conducted consulting projects for the BC Lions Canadian football team, Vancouver Whitecaps of Major League Soccer, and Vancouver Island Helicopters. Holding both a law degree and Masters of Business Administration, Mr. MacKenzie served as Manager of Business and Legal Affairs for Roxgold prior to joining Midnight Sun. Adrian O’Brien – Vice President, Business Development & Communications Mr. O’Brien is a senior executive and marketing leader with more than 30 years of experience in the mining and exploration industry. His career spans roles from investor relations to chief executive officer, with involvement across the full project lifecycle—from grassroots discovery through development, mine construction, and operations. From 2018 to 2023, he served as Director of Marketing and Communications at PureGold Mining. His previous positions include Director and President of Kermode Resources, Vice President of Apella Resources, Director and President/CEO of Pro Minerals, and Director of the Prospectors and Developers Association of Canada. Rob Sibthorpe – Chair Emeritus & Director Mr. Sibthorpe, B. Sc (Geol), MBA has had extensive experience in the mineral exploration sector working in geology and business development with senior mining companies including Noranda, Falconbridge and Ivanhoe Mines. He also served as a research and corporate finance analyst in the securities industry for Midland Doherty Ltd., Yorkton Securities Inc. and Canaccord Capital Corp. He has been involved in the discovery and financing of numerous important mineral deposits, including Eskay Creek, Petaquilla, Oyu Tolgoi, and Fire Creek. In 2010-2012, as President and CEO of Roxgold Inc., he financed and discovered the Yaramoko deposit in Burkina Faso. Mr. Sibthorpe received his Bachelor of Science in Geology (1972) and a Masters of Business Administration (1979) from the University of Toronto. Rick Mazur – Director Mr. Mazur, P. Geo, MBA is a geoscientist who has held positions in the international exploration and mining industry for over 30 years as a project geologist, financial analyst and senior executive on uranium, gold, base metals, coal and industrial minerals projects around the world. Mr. Mazur worked as an analyst for Canamax Resources Inc. from 1985 to 1991 during the development of three Canadian gold mines. Two of these mines – Bell Creek in Timmins, Ontario and the Island Mine in Wawa, Ontario are still in production. Mr. Mazur also served as a Director of Roxgold Inc. when it was named the top company on the TSX Venture 50 in 2012. Currently, he is a Director of Alto Ventures Ltd., Impact Silver Corp., and Forum Uranium Corp. Brett A. Richards – Director Mr. Richards is a natural resources executive with over 32 years of expertise in mining and metals. He has a unique background in mining M&A, mine financing, mine development and senior level operations experience. He brings publicly listed CEO experience in the mining sector, as well global operational experience – with a geographic focus in the last 12 years in Africa. Brett has held positions for private equity shareholders in the past including: CEO of African Thunder Platinum, CEO of Renew Resources, and CEO of Octéa. He previously served as the transition CEO of Roxgold, CEO of Avocet Mining, and was part of the five person start-up of Katanga Mining. Brett’s other publicly listed experience was in senior executive positions with Kinross Gold and Co-Steel. Wayne Moorhouse – Director Mr. Moorhouse, CFA has held senior management positions with several mining and civil construction companies. He has a proven track record at an operating level and as a financial executive with experience covering all stages of a project’s life, from grass roots exploration through feasibility and engineering studies, strategic planning, project finance, construction, mine expansion, operations, and mergers and acquisitions. Mr. Moorhouse has acted for a number of TSX and TSX Venture listed resource companies including Genco Resources Ltd, Stealth Energy Inc., and Roxgold Inc. and is currently COO of EnviroLeach Technologies and a director of I-Minerals Inc. Alastair Brownlow – CFO Mr. Brownlow is a Chartered Professional Accountant and a U.S. Certified Public Accountant (Washington) specializing in resource-focused accounting and finance. Mr. Brownlow has accumulated extensive experience working as CFO of TSX Venture Exchange listed resource companies, spanning exploration, development, and production stages. Mr. Brownlow has also worked as an auditor in the British Virgin Islands. Prior to this, Mr. Brownlow worked for a Canadian chartered professional accountant firm where he specialized in the mining industry, gaining significant accounting experience auditing resource companies with operations throughout the world. Mr. Brownlow holds a Bachelor of Business Administration degree with first class honours from Simon Fraser University. Advisory Board Darin Wagner, P.Geo – Advisor Mr. Wagner is a Professional Geologist with extensive experience building and leading exploration stage companies, as well as guiding mineral exploration programs globally from exploration to discovery and ultimately development stage. He has been directly involved in several M&A transactions in the mineral exploration sector and helped to raise several hundred million dollars. Throughout his career he has worked with and led many successful companies including New Millennium Metals, Platinum Group Metals, Sydney Resource Corp, West Timmins Mining, Balmoral Resources, Falco Resources, Newcastle Gold, Nova and Nova Royalty. He served as President, CEO, Director, and Qualified Person for West Timmins through the discovery of the high-grade Thunder Creek and 144 gold deposits and oversaw the acquisition of West Timmins by Lake Shore Gold in an all-share deal valued at $424 million, completed in 2009. He was founder, President and CEO of Balmoral until its 2020 acquisition by Wallbridge Mining Company Ltd. in an all-share deal valued on closing at $160 million. He also currently acts as a technical advisor to MAG Silver and Dryden Gold. Margot Naudie Ms. Naudie is currently the President of Elephant Capital Inc. She has more than 25 years of capital markets experience with expertise as a Senior Portfolio Manager for North American and global natural resource portfolios. She has held senior roles at leading asset management firms including TD Asset Management, Marret Asset Management Inc., and the Canadian Pension Plan Investment Board. She was cited as a Brendan Wood TopGun Investment Mind (Platinum) for five consecutive years. Margot has a Bachelor of Arts in Politics and Economics from McGill University, an MBA from Richard Ivey School of Business, and is a Chartered Financial Analyst (CFA) Charter holder. Adrian Karolko, P.Geo – Vice President, Exploration Mr. Karolko, B.Sc (Geol) Honours, brings over 18 years of mineral exploration experience over a wide variety of commodities including base metals, gold, uranium, and specialty metals from jurisdictions including Africa, Europe, South America, Canada, and the United States. He was an active member of the Pre-Feasibility and Feasibility team for Lumina Gold Corp.’s Cangrejos Gold-Copper Porphyry Deposit, Ecuador which recently announced an all-cash acquisition of $581M with CMOC Singapore Pte. Ltd. Adrian served as Exploration Manager for Miedzi Copper Corp., a privately held company headed by Ross Beaty, and is co-credited with the discovery of the Nowa Sol Deposit—a world class copper-silver stratabound deposit located in western Poland. Adrian has served as a Qualified Professional Geologist on numerous project and multiple operators globally, and brings strong leadership and multifaceted skillsets to the Midnight Sun Team.

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