Golden Minerals

Midnight Sun Mining Corp. Announces Private Placement

VANCOUVER, BC / ACCESSWIRE / October 17, 2018 / Midnight Sun Mining Corp. (the "Company" or "Midnight Sun") (TSX-V: MMA) is pleased to announce a non-brokered private placement of 8,333,334 units (the "Units") at a price of $0.12 per Unit for gross proceeds of $1,000,000 (the "Offering"). Each Unit will consist of one (1) common share ("Common Share") in the capital of the Company and one (1) Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share of the Company for a period of twelve months from the closing of the Offering at an exercise price of $0.20. The Company intends to close the Offering as soon as practicable.

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.

The Offering, including the future issuance of the Common Shares and Warrants, is subject to the final approval of the TSX Venture Exchange. All securities issued will be subject to a hold period of four months and one day pursuant to applicable securities laws.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Brett A. Richards - President and Chief Executive Officer

For Further Information Contact:

Brett A. Richards
President and Chief Executive Officer
Tel: +1 905 449 1500

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.

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