Excellent. Thanks, everyone. My name is Adrian O'Brien, the Vice President of Business Development for Midnight Sun, and I'm going to walk you through what we've been working on for the last, well, in total 14 years. The inflection point came three years ago, and we transformed this project and kicked it off, and it is now hitting critical mass. We put out some news last week. That news was some assay results. They were long- awaited, three or four months actually behind schedule, and when we got those out, we finally showed the world just how big this system is getting. I'm going to go through this a little bit thematically. I like to cover the story in a way that people can get their head around why we went to Zambia in the first place, why this area is so important globally. Trust me, the end of this presentation, you'll understand why this is getting so much attention, why Zambia is such a hotbed of activity. There's a few copper locations in the world that are, let's just say, important is an understatement. This is the top of the heap. This is literally the most globally important location for copper exploration on the planet today. We'll go through this. I'm going to cover every aspect of the project, but when you're talking about global copper jurisdictions, most people think of Chile, Panama, Argentina, South America, right? The deposits you're looking at in those regions they're big, but they're deep. They might be 2 km underground, 1 km underground. That means they come with a massive CapEx. Add to that, a lot of those locations are very high in the mountains, so you're, again, adding to your CapEx. When you're looking at copper projects that are porphyry, that is the predominant type of deposit in those regions, super expensive, super high CapEx, and they take a long time to deliver. The reason this area is so important right now there's actually two. The first is the geological endowment. The deposits I'm about to show you are some of the biggest on the planet. They are the biggest in Africa, and the average is around a billion tons. They're also right at surface. These are sediment-hosted and basement dome-hosted. They're completely unique, and this entire belt features at-surface deposits. We have two things. We have what I like to call the unicorn factor, which is a very large exploration target that is now a brand-new discovery, a brand-new major deposit in the Zambian copper belt. We have something that is an oxide copper asset that's at the surface, very high grade, and we're in the midst of turning that into cash, and I'll tell you how in a few minutes, in order to further fund the work we're doing on Dumbwa, which is our massive target. That Dumbwa one there is the one we're going to spend most of the time on today. We're completely surrounded by the five biggest copper mines in Africa. We're at the center of the hottest belt on the planet right now for copper exploration, and we're fully funded to rock through this whole thing, and I'm going to show you how we're doing it. Let's talk just two minutes about Zambia, the Domes region, and why we're there. We made a bet on this region almost 14 years ago. We went into this area when copper was $1.50 a lbs. Nobody was particularly worried about what was going on in Zambia, and nobody was really putting a lot of attention into it. The majors were. Barrick was there. They purchased an asset called Lumwana, we're going to talk quite a bit about today, from Equinox for $7.3 billion. They thought it was serious, and at that time, it was a 900 million ton deposit at $0.5. That's an incredible price tag. The backup bid to that was MMG. MMG was going to bid $5.5 billion. Somebody was going to pay through the nose for that asset. You also have First Quantum's flagship asset, Kansanshi. They sit right beside us. This is truly one of the top spots. You're looking at the five biggest copper mines in Africa: Kamoa Kakula, Sentinel, Lumwana, Kansanshi. CMOC has the Tenke deposit, Tenke Fungurume, which, of course, is really well-known as well, all surrounding us. The reasons why companies have gone to Zambia historically, you're looking at a very, very friendly jurisdiction in terms of mining arrangements, a democratically elected government, a proper mining act in place, but 75% of their export earnings are copper. What other jurisdiction on the planet has 75% of their entire export earnings in copper? It's incredible. Truly, a mining jurisdiction where if you find something, you're going to be able to build it. Why else would we go to any jurisdiction? Unless you're going to be able to advance your project, there's just no point. This is the Zambia-Congo copper belt. Now, when people typically refer to the Zambia-Congo copper belt, they're talking about this area between the two pink dashed lines on the right-hand side of the screen. That's the traditional belt. There's dozens of big deposits there, lots of operating mines. What's evolved over the last 15-20 years is where all these bubbles are centered in the center and left-hand side of the screen. That's called the Domes Region of Zambia. That is one of the top spots on the planet right now. That's the area I've been talking about for the last couple of minutes. What you're looking at is the five biggest copper mines in Africa, all over 1 billion tons, all right at the surface. Every single one of them, at-surface deposit. It's extraordinary. They come with a low CapEx. They have low operating costs. They have really beautiful margins. These are some of the top assets in the world. Starting at the top, I'm just going to run through really quickly. Ivanhoe Mines' Kamoa Kakula, that's their flagship, of course, $1.4 billion at almost 3% copper. Barrick's Lumwana Mine, 1.6 billion tons. First Quantum Minerals' Sentinel Mine, 1.03 billion tons. First Quantum Minerals' Kansanshi Mine, 1 billion tons. CMOC's a little smaller, Tenke, a little bit smaller deposit, but incredible grade at 2%. What you'll notice is that north of the D.R.C. border, we straddle the Zambia-D.R.C. border, North of the D.R.C. border, the grades jump. You get a little higher grade, little different rock unit, they're a little bit different geologically speaking. Down to the south, you're averaging somewhere between 0.3% and 0.6%, depending on where you are in the belt, depending on the asset. What you'll also notice is right in the middle of the screen, there's a yellow star there. That is our Dumbwa deposit. That's the one I'm going to talk about mostly today. That's our flagship asset and the one that's been generating the most interest over the last little while. Our project is everything you see surrounded in green, and there's two different parts to that. We have the Dumbwa deposit and our Solwezi project, which is right in the center of the map there. Just to the east, we have our Luswishi project, which was a new acquisition we made last year. This is a key theme we need to cover. This is the Lobito Corridor. I'm sure there's people in this room that have heard about Lobito. It's been getting a lot of attention, a lot of news, the last little while. This is a brand-new rail project that's being built that connects a western port in Angola with four major copper projects. Ours is one of them. Those copper assets are critical. They need access, and this is being built by the U.S. government. This is a $4.4 billion project, building this rail line to get those critical metals and that copper out to a western port in Angola and over here to the U.S. What's happened over the last couple of months is China has now announced a new eastern rail corridor. It's a refurbishment as opposed to a brand-new build, so the timeline's a little different, the cost is a little different. That runs from the exact same point near Ndola to the east across Tanzania to an eastern port to take that copper to China. You literally have a global tug-of-war between two superpowers happening over those copper assets, and we are right in the heat of that battle. What this is all saying is that if you are a junior explorer like us and your goal is to develop assets for M&A, right? I always say this in my presentations: You have to know what you're good at. Not every company can go from the full continuum of discovery to development and building a mine and operating it. We aren't going to do that. We're building this for M&A, okay? We're going to hand this to somebody that wants to run it eventually. It's the right thing to do. You can't wear all the hats. We're good at making discoveries. We're good at taking assets and getting them to the critical mass, and that's exactly what we're doing here. What this is a perfect storm for M&A. If you want an opportunity for a project to be sold, you want major mining companies surrounding you, want access, and when you have the U.S. and China building rail lines to try and get that copper out, that shows you you're right in the middle of it. I'm going to add a little bit to that. There's a lot more companies in Zambia than what you see on the map. BHP, Rio Tinto, Freeport-McMoRan, Anglo American, they're all there, but they don't have a discovery yet. They're looking for something new. Ivanhoe just took out 8,000 sq km of land. Unprecedented. That's in the western side of Zambia, where this belt dips deeper and gets more difficult to explore. They're in there because they're looking for a discovery. If you look at that perfect storm for M&A and you're Midnight Sun, if you could drop a 1 billion-ton deposit on a silver platter in the middle of that camp, you've given everybody what they're looking for, and it should be the ultimate opportunity to capitalize. That's what we're setting up to do. Now, a quick overview of the geology in the camp. In the center of the screen, you can see our project there. Sorry, on the right, you'll see Barrick's Lumwana Mine. You'll notice these pink features that are outlined with that yellow dashed line. Those are called the basement domes. Those are what drive the big deposits in this region. All those billion-ton deposits are developed around those basement domes or in them. If you're lucky, you find one of these basement dome-hosted deposits. There's only two in the camp. One is Lumwana, 1.6 billion tons. The other one is a brand-new one that was just put on the map, and that's Dumbwa, which is ours. Those are basement dome-hosted. The rest of the deposits, 75%-80% of the ones that are in the belt, are in that orange-brown ring of rock, and those are the sediments that surround the basement domes. Two different styles of geology. They equate to the exact same thing, giant deposits right at the surface, and that's the key. Big difference, we've already kind of hammered this home, but at surface, massive tonnage, grade is less important than the overall tonnage here. We're looking for big, big long-life deposits. When you're looking at those other areas, you're looking at deposits that are deep, that are expensive, and they take a lot longer to get into production. I'm going to digress into a quick story for you about this fellow you see on the screen here. This is Kevin Bonnell. Kevin came to us in a pretty interesting way. He was the Freeport-McMoRan exploration manager for all of sub-Saharan Africa for almost 20 years. Had numerous deposits to his credit. Four years ago, he was actually hired by Barrick. The reason he was hired by Barrick is that acquisition I alluded to a little while ago. They paid $7.3 billion for Lumwana when it was 900 million tons at 0.5, and copper was $1.50 to $2 a lbs. About four years ago, they decided they needed some help. They hired Kevin. They brought Kevin in. Kevin's mandate was to turn Lumwana into a Tier 1 asset. They needed a Tier 1. They needed 5 million tons of contained copper. They needed a 1 billion-ton deposit. Kevin put a team together. He attacked Lumwana, and in 24 months, which, as you know, in our world is astronomically quick, he delivered 1.6 billion tons and gave them 62 years of mine life and almost 9 million tons of contained copper. World-class asset, flagship. Barrick changed their name from Barrick Gold to Barrick Mining. Kevin brought Barrick over to us to talk about Dumbwa. He saw the exact same thing. Basement dome-hosted system looked exactly the same, had the same characteristics, same signs, same kind of scale, and we didn't end up doing anything with Barrick, but we did hire Kevin. Kevin became our Chief Operating Officer. Kevin's the guy running this project geologically. He's taking the same approach he did at Barrick and doing the same thing with Dumbwa. He took us to a discovery on the third drill hole. I'm going to show you Dumbwa today. We'll start with the discovery, and then I'll show you where we're at now. The first sign was this. When you get to Dumbwa, and you take a look around, you're going to notice something that stands out, and it's the first thing that brought Kevin really focused in on what he was seeing. It's this. If you drive across the property, it looks like this. Lots of vegetation, lots of trees, lots of grass, until you get to the Dumbwa deposit, and it looks like this. That's a copper clearing. They occur across the belt. They're standard with most of the big deposits, but he saw them at Lumwana in spades. What this is caused by is high copper tenor at the surface. You get a lot of copper in the soil, no vegetation can grow. Copper's toxic to it. This stands out like a sore thumb. You can see it runs across the valley over to the other side. This is a massive copper clearing and actually right where we're drilling today. This is the target itself. That big purple blob, that's 20 km long, gets up to 0.73% copper, and that is the largest and highest grade soil anomaly ever found in Zambia. That's what we started with. The drill holes you see there on the left-hand side of the screen were drilled by First Quantum. Every one of those drill intercepts was economic. They were all right near the surface. We knew there was something there. Those drill holes drilled by First Quantum span the entire 20 km anomaly. We knew it was real, but nobody had ever taken a proper concerted effort to this and taken a real swing at it. Kevin came up with a plan. First part of the plan was this: 20 km is a heck of a lot of property to drill, so we split it in half. We decided let's do the southern half first and methodically drill it top to bottom. Let's move to the north and duplicate the process. If we're successful in the south, we know we have a bulletproof thesis for the north, so we would do it that way. We set out a grid, and a lot of people ask me, ''Why are you guys drilling so many holes?" Really simple. If you want to go into M&A at some point, if you want to advance your project, and you really want people to take you seriously, you don't drill giant step outs and arm wave and say your deposit's massive because you have a drill hole over here and a kilometer further north, you have another drill hole, and 3 km further north, you have another drill hole. We're drilling a 50 m grid over this entire thing. We started at the southern boundary, and we're drilling every 50 m across the system and every 100 m north to south. It equates to about 100,000 m of drilling in year one alone. It's pretty extraordinary, but what it's giving us is a data set that is absolutely bulletproof. Nobody can argue with it. We're going to be able to bring someone in our data room, let them look at our data set, and they know that the work we did was quality, it's real. They can see exactly what we have. This is our discovery hole DBW-25-007. Couldn't have named it better myself. Unbelievable. There's a lot of puns in there. Don't say license to drill, but you can if you want to. If you look at the center of the deposit, this is basically our very first view of what Dumbwa looked like. What you'll see is three major lenses. They're all horizontal. This is if you cut the south end of the deposit off, you're basically looking at what it looks like across the system, and then running to the north. You have three main lenses, kind of a lower lens, a middle lens, and an upper lens. The hole second from the right was our discovery hole. We hit mineralization starting right at the surface. Those little dots at the top that's the surface. There's no overburden. There's no strip ratio to this thing. Mineralization started right at the surface and ran to 200 m depth. This is what it looked like. The stuff on the left is the center of the system. The closer you are to the center, the more bornite you get, which is your top copper mineral. You move a little bit further east or west, you get chalcopyrite, and then disseminated chalcopyrite, and then more disseminated. What happens is we get this really beautiful gradual feathering out of the mineralization till you get to the eastern edge of the property or the eastern edge of the system, sorry, and it just drifts out to a pyrite shell, and then you know you're done. Same thing on the west. Only on the west, we see a little harder drop-off than we do on the east. Here's where we are today. We started drilling in August of last year. Since August of last year, we've drilled almost 50,000 m. We've got 6.2 km of strike length now drilled off. What I'm showing you here is actually 4 km of assays, 5.3 km of drill intercepts. The ones at the very top that are the lighter color have not been assayed yet, or we haven't had assays that we can release yet. These are the kind of intercepts we're getting. 93 m of 0.4, 80 m of 0.39, 44 m of 0.53. The thing I would point out is just that when you're comparing these to a big porphyry, sometimes you'll see these big intercepts at a porphyry deposit that are 200 m of 0.5 or 200 m of 1% or something, but they're 2 km underground. Take that into account. We're looking at mineralization that is right at the surface with a very low strip ratio. This is the kind of system that works very easily, very inexpensively, and all of the intercepts on the screen are exactly the kind of stuff we're looking for. The mineralization is stacked. What we see is intercepts in multiple intercepts in every hole. It's not just one. We get those three layers, with some other thinner layers in between. Basically, you're hitting that mineralization strip right at the surface again and again as you go down hole. Deepest we've hit mineralization is 344 m. On almost every one of these areas, mineralization starts right at the surface and then 50 m, 60 m, 100 m. Generally speaking, the system is about 200 m thick from the surface to a depth of 200 m. That's consistent from north to south most of the way along. This shows you the 12 km. This is the southern half of Dumbwa. This shows you the 12 km we're drilling right now. That polygon on the left side that is showing you what we've released, what we've drilled so far, and as you can see, we've got a long way to go. We're just getting started. There's another nine kilometers to the north, and that section you see above is the part we're going to be done just in phase 1. I call it Q3, so August, September, we'll have drilled that first full 12 km. At that point, we'll know how big Dumbwa is. Our target for this is 1 billion tons, just for the southern half. 1 billion tons. Grade to be determined. What we're starting to really understand now is the grade. Dumbwa is variable. This isn't going to be 20 km or 10 km of one consistent grade. What you're really looking at is areas with medium to high grade and areas of lower grade, and it's going to move through those areas depending on how the mineralization is cross-cut by faults. In this, you can actually see quite clearly the blue and pink are bornite and chalcopyrite, the yellow is chalcocite, and the yellow is chalcopyrite. This is showing you now a long section where you can see the mineralization over that 4 km or 5 km section and the consistency from surface to 200 m depth all the way along, and you can see where the mineralization in that thing called the CF block, that's a cross-cutting fault. We can see those very clearly. Now you can see them in this graphic. There's our grade shells, there's the variability. We're going to move through higher grade areas, we're going to move through lower grade areas. That's just part of Dumbwa. At the end of the day, we're going to string together something that's very large tonnage, and that's the goal. This is a big bulk tonnage target. We want to get immense tonnage together at a grade that makes sense. I'll give you a quick comparable. At Lumwana, their cutoff grade is 0.1%. Most of the stuff you've seen us release so far ranges anywhere from 0.2% up to 0.5% or 0.6% or 0.7%. We do have some 1+% intercepts as well. We're looking for a giant bulk tonnage target here. Big tonnage, moderate grade, but you're going to see variability. What that means is you're probably looking at multiple areas that will be mined along strike over that 20-km section, and we're starting to see that really clearly now with these grade shells. To get a good understanding, and look, this is still an exploration program. We've drilled a lot. Don't get me wrong. We've drilled 45,000 m or so. We've drilled about a quarter of what Dumbwa is so far, maybe a third. We've got a lot to find out. This is going to have twists and turns. We're going to find out new information as we go. At the end of the day, we have something very real. It's the newest discovery in Zambia's copper belt. It is a big, very large tonnage system. We're super excited. This is the beginning of the most exciting phase. Not to go into too deep on the geological detail, this is just showing you bornite and chalcopyrite mapped over the first 4 km. Just gives you an idea of the consistency of the mineralization across the system. A quick comparison for you. We talk about Dumbwa, we talk about Lumwana, we talk about Kevin's discovery at Lumwana, making it very clear just how similar these systems are. This is Lumwana. This is Kamisengo. This is one of the three deposits that make up Barrick's Lumwana mine. Lumwana, if you're unaware, is going through a $2 billion expansion plan right now. They've put in a 23-km conveyor belt. They've tied three major deposits together, Chimiwungo, Lubwe, and Kamaranda. Kamaranda's now referred to as Kamisengo. What you're looking at is a cross-section drawn by Kevin when he was with Barrick, and that's the mineralization at Lumwana. It's about 40 m-60 m thick. It has 20 m-30 m of overburden, and it runs for about 4 km on strike and a couple of kilometers wide. Here's Dumbwa. Same exact stuff. Formed the same way. Here's the differences. Zero strip, no overburden. Forget the 20 m or 30 m, we don't have it. This starts right at the surface, and our mineralization extends from the surface to 200 m depth. Instead of 40 m-60 m thick, it's 200 m thick. It's narrower. It's probably 300 m-500 m wide in most of the areas we've drilled so far. We have some big blowout areas coming up that we're looking for drilling and testing to see if it extends. We also just realized that there's a whole bunch of these areas that we had drilled off on our very first pass, and that we have a whole bunch of room to go back and expand them. We've just launched an expansion program, and what you can see here is down where it says, "Over 4 km drill tested to date," you'll see some green dots. Those are the areas where we've realized the mineralization actually extends further to the east, and you'll see those all the way up, and a little bit further to the west. We're going to go in and expand that and add some tonnage. The Lumwana, Dumbwa analog, it's not close, it's identical. These were formed the same way. They were formed through strain. They're in the basement dome. They're the only two known that are in the basement dome in the belt, and they're massive. We know we have a good analog. We know we have a great model. We know our model is real. We're there now. 5.3 km with a real system, and we're advancing this at 10,000 m a month. We're drilling with five drill rigs, 10,000 m a month. We'll get to the end of the first 12 km by the end of Q3, and that's part of our thesis is not to take five years to deliver this. We're giving this to you in 12 months. We started last August, we'll be done next August. That's fast. In this business, you don't see that too often, and that was part of what we really wanted to show people with this. I'm going to cover this super quickly. This is the other piece of Midnight Sun that you need to understand. This is called Kaziba Main. This is an oxide copper deposit that we started drilling last year, and we took as far as an indicated resource in about 15 months. We delivered that indicated resource last year in January, and it is 2.33 million tons at 1.41% copper. It's not huge, but it's very high grade, and it sits right at the surface. This makes sense for any oxide producer. We have an opportunity here to deliver this, and we're right next door to one existing mine that has an SX-EW circuit and excess sulfuric acid. There's numerous other producers around us that have the same thing. We're now going out. As soon as we delivered our resource, we opened up a process to sell this, and the idea is really simple. This is worth $300 million or $400 million. Turn that into cash and put that cash into Dumbwa. Non-dilutive. There's our funding model. We don't need to go back to the market. We raised $30 million in October of last year, and now we're monetizing Kaziba, which will give us all the money we need to go right to the finish line. With this whole process underway, today we're sitting on about $25 million cash. We did raise $30 million. We had previously raised $10 million, so we had $40 million when we started this process. The entire budget to drill Dumbwa was only $20 million, if you can believe that, for that first 12 km. Our drill costs here in Zambia are only about at $160 a meter all in, which is incredible. Very low cost of drilling, low cost of work. We're advancing really quickly and very aggressively. Five drill rigs, 6,000 m- 10,000 m a month, full court press to get this to the finish line as quickly as we can, and delivering Zambia's newest copper deposit. That is Midnight Sun, and I would love to answer some questions for you. I've got the cap table up, if anybody has questions about that. We've gone from about a $20 million market cap to a peak valuation in the last 18 months of $400 million, and then we've come back now to about a little over $200 million. We're at that point now where we've stabilized it, we're advancing it, and as we deliver drill results and the scale of this thing, we're going to be in great shape. Any questions? We have time for just about two questions, if anyone in the audience has anything. Okay, located in Africa, your neighbor to the north, the Congo, is a governmental basket case. Totally. Don't know much about Zambia's government. Can you enlighten us on what's it's like as a jurisdiction? Sure. As easy as it gets. Zambia, again, we've been there for 14 years. We've had no issues. Zambia is not a country we have to worry about nationalization. We've got a proper democratically elected government. They've got a proper mining act in place. They have a history of being a fantastic place to do business, which is why you see First Quantum, Barrick, Anglo, Ivanhoe, everybody's there because it's the right place. If you're going to find something, you're going to be able to build it. You've got President Hichilema going out there telling the world they want to be number two or number three in the world for copper production, global copper output. They're doing what they can to bolster that, speeding up permits, speaking on behalf of the mining sector, and protecting the mining sector. It's a phenomenal jurisdiction. What they deal with in the north, we don't have to deal with in the south. It's excellent. I think it was your primary asset. You made a comment, a very simplistic question here. Yeah. You said you're surrounded by majors; it's perfect for M&A because they haven't found anything. Where do you stand? They haven't found anything. What have you found through all that? We've got a massive system. Brand new copper deposit. The last copper deposit was discovered in the belt is Sentinel. Sentinel was discovered 22 years ago, until we put Dumbwa on the map. They don't have anything, but you do. You're right there. Correct. You got it. We've got a brand new discovery. We've got a large-scale system. These are the kind of systems that produce massive tonnage. We're already getting to critical mass. We've drilled 5.3 km of strike length, which is enormous. Again, when you look at Lumwana, which is 1.6 billion tons, is 4 km long. We're already at 5.3 km. Let me ask the question a different way. Why haven't they already made the offer? Well, hopefully they don't yet. We got a long way to go before we want to get bought. I would say, it becomes a tactical thing, and certainly will be in their hands to make the decision on when this might be something they want to acquire. We hope it's not yet. We don't want to do that yet. We want to keep going on what we're doing. We want to drill this off and get it to critical mass, and we want to dictate the timeline of when that timing happens. All right. I think that's it for now. Excellent. Thank you very much. Thank you very much. If there are any other questions, you're welcome to approach him and grab him for a one-on-one meeting.Thank you. Thank you very much.