Midnight Sun Appoints Independent Chairman and Nominates Two Senior Mining and Capital Markets Executives to Board
VANCOUVER, British Columbia, Oct. 29, 2026 (GLOBE NEWSWIRE) -- Midnight Sun Mining Corp. (TSXV: MMA / OTCQX: MDNGF) (“Midnight Sun” or the “Company”) is pleased to announce the appointment of a Chairman of the Board, as well as the nomination of two new, highly accomplished, independent candidates for election at the Company’s upcoming annual general meeting, scheduled for December 4, 2026. Bringing extensive experience in major mine development and operations, capital markets, and corporate governance, the nominees add significant expertise to the Board as Midnight Sun advances its flagship Dumbwa copper deposit.
Appointment of Chairman of the Board
Brett A. Richards has been appointed as Chairman of the Board, effective immediately.
Mr. Richards has served as a director of Midnight Sun since August 2017 and brings more than 35 years of experience in the mining and metals industry, including three decades focused primarily on Africa. His extensive experience spans the full mining lifecycle, from exploration and mine development through construction, operations and strategic exits. He is currently principal of Richards Enterprises Inc.
The appointment of an independent Chairman reinforces Midnight Sun’s commitment to strong corporate governance and independent Board oversight, while leveraging extensive mining industry leadership.
New Independent Director Nominees
Two new independent director nominees, Andrew Neale and Caroline Cathcart, will be included on the board slate at the upcoming annual general meeting, joining current independent board members Brett Richards, Rick Mazur, and Wayne Moorhouse, along with Company President and CEO Al Fabbro. Together, the nominees bring significant and complementary experience to the board, strengthening the overall slate with specific expertise in the areas of public company governance, capital markets, and deposit development.
Andrew Neale, MASc.
Mr. Neale is a mining executive with more than 40 years of international experience spanning exploration, project evaluation, feasibility studies, engineering, mine construction, and operations.
His career includes senior roles with major mining companies including Falconbridge, Noranda, and Freeport-McMoRan, where he held overall operational responsibility for the Grasberg Mine in Indonesia, one of the world's largest copper and gold mining operations. Notably, Mr. Neale also led the due diligence team that exposed the Bre-X gold fraud.
Mr. Neale is currently CEO of CopAur Minerals Inc. (TSXV: CPAU), which is advancing the Kinsley gold project in Nevada. He holds a Master of Applied Science degree from the University of Alberta.
Caroline Cathcart, LLM, CIM, FCSI
Ms. Cathcart is a senior capital markets executive with more than 30 years of experience in resource-sector investing, portfolio management, corporate governance, and regulatory oversight.
As Vice President and Portfolio Manager at Goodman & Company, Investment Counsel Inc., she worked alongside prominent resource investor Ned Goodman, leading market strategy and research initiatives. Previously, during nearly two decades at Research Capital Corporation, she managed resource-focused investment funds and led the firm's investment fund division, which grew to more than $1 billion in assets under management. She was also a significant early stakeholder in the Island Gold project, now owned by Alamos Gold.
Ms. Cathcart subsequently held senior leadership positions at RPIA, a global investment manager with more than $20 billion in assets under management, most recently serving as Chief Administrative & Legal Officer. She currently advises investment managers and boards on governance and regulatory matters through C.M. Cathcart Consulting Inc.
She serves as an Independent Director of Eloro Resources Ltd. (TSX: ELO) and holds a Master of Laws from the University of Edinburgh, along with the CIM and FCSI designations.
Advanced Notice Policy
The Company also announces the adoption by its board of directors of an advance notice policy (the "Advance Notice Policy") regarding the election of directors.
The purpose of the Advance Notice Policy is to provide a clear process for the shareholders, directors and management to follow when nominating directors of the Company. Such a policy will ensure that shareholders receive adequate notice of director nominations and sufficient information regarding all director nominees and to allow shareholders to register an informed vote after having been afforded reasonable time for appropriate deliberation.
The Advance Notice Policy sets a deadline by which director nominations must be submitted to the Company prior to any annual general or special meeting of the shareholders and also sets out the required information that must be included in the notice to the Company. No person will be eligible for election as a director of the Company unless nominated in accordance with the Advance Notice Policy.
In the case of an annual general meeting of the shareholders, notice to the Company must be made not less than 30 days prior to the date of the annual general meeting. If the annual general meeting is being held on a date that is less than 50 days following the date on which the first public announcement of the meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
In the case of a special meeting of shareholders (which is not also an annual general meeting) called for the purpose of electing directors, notice to the Company must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made. Notwithstanding the foregoing, the board of directors may, in its sole discretion, waive any requirement of the Advance Notice Policy.
The Advance Notice Policy is now in effect and will apply in connection with the Shareholders' Meeting. The Company intends to seek shareholder approval by ordinary resolution of amendments to the Company's articles to include advance notice provisions with respect to the election of directors (the "Advance Notice Amendments”) which contain substantially the same terms as the Advance Notice Policy. If the Advance Notice Amendments are not approved by ordinary resolution, then the Advance Notice Policy and the Advance Notice Amendments will terminate and be void and of no further force or effect following the later of the conclusion of the Shareholders' Meeting or any adjournment thereof.
A full description of the Advance Notice Amendments will be contained in the information circular to be prepared for the Shareholders' Meeting and mailed to the Company's shareholders. A copy of the Advance Notice Policy will be filed on SEDAR+ under the Company's profile at www.sedarplus.ca.
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 to the west 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 newly identified 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
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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, interpretations, 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. 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.