Midnight Sun Mining Corp. Closes First Tranche of Private Placement

Vancouver, British Columbia--(Newsfile Corp. - October 26, 2015) - Midnight Sun Mining Corp. (TSXV: MMA) (the "Company" or "Midnight Sun") announces the completion of the first tranche of a non-brokered private placement by issuing 1,356,250 units (the "Units") at a price of $0.10 per Unit for gross proceeds of $135,625. Each Unit will consist of one (1) common share ("Common Share") in the capital of the Company and one (1) transferable Common Share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one Common Share of the Company for a period of twenty four months from the closing date, at an exercise price of $0.20. The total private placement (the "Offering") will be for up to a total of 7,500,000 Units.

The net proceeds of the Offering will be used by the Company to fund further exploration work on its optioned Zambian mineral exploration permits as well as general working capital. The Company intends to close the second tranche of the Offering as soon as practicable.

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 pursuant to the first tranche of the Offering, including the Common Shares underlying the Warrants, are subject to a statutory hold period which expires on February 27, 2016.

ON BEHALF OF THE BOARD

Robert Sibthorpe
President & CEO

For further information contact:

Al Fabbro
Director
Tel: 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.

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