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Sun Summit discovers strong gold-silver-zinc mineralization west of Buck Main: Drills 1.09 g/t gold equivalent over 73.5 metres including 2.20 g/t gold equivalent over 10.30 metres in an area that remains open in all directions

By 2022

Vancouver, B.C. May 3rd, 2022: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) is pleased to report initial drill results from its winter 2022 exploration drill program and the discovery of new zones of bulk-tonnage style gold-silver-zinc mineralization on its Buck Property, central B.C.

Highlights

  • Discovered new zone of strong gold-silver-zinc mineralization: Westernmost step-out holes intersected numerous zones of strong mineralization in a previously untested area.
  • BK22-070:
    • 1.09 g/t gold equivalent (AuEq) over 73.5 metres including 2.20 g/t AuEq over 10.3 metres and 1.50 g/t AuEq over 17.0 metres within 0.84 g/t AuEq over 117.7 metres.
  • BK22-071:
    • 1.31 g/t AuEq over 18.0 metres within 0.75 g/t AuEq over 47.7 metres.
    • 1.40 g/t AuEq over 12.0 metres including 2.63 g/t AuEq over 6.0 metres.
    • 1.44 g/t AuEq over 13.0 metres including 11.37 g/t AuEq 0.8 metres.
    • 1.65 g/t AuEq over 7.6 metres including 9.57 g/t AuEq over 1.1 metres.
  • BK22-072:
    • 1.12 g/t AuEq over 23.0 metres including 12.03 g/t AuEq over 1.5 metres.
    • 6.53 g/t AuEq over 1.5 metres.
    • 1.36 g/t AuEq over 12.8 metres and 0.97 g/t AuEq 51.4 metres within 0.68 g/t AuEq over 145.0 metres.
    • 1.66 g/t AuEq over 10.9 metres within 0.81 g/t over 36.8 metres.
  • Opens exploration potential significantly to the west, south and at depth of Buck Main:
    • Cumulative grade thickness through all zones of mineralization in new holes compares favourably with other holes drilled some 500 metres to the east.
  • A systematic follow-up drill program is currently being planned to fully evaluate the scale and potential of this new discovery.
  • The results of the remaining six holes are pending.

Notes:

  1. Intervals are downhole core lengths. True widths are unknown.
  2. Calculations are uncut and length-weighted using a 0.10 g/t gold cut-off.
  3. AuEq assumes metal prices of $1700/oz Au, $22/oz Ag and $1.60/lbs Zn using the equation: AuEq(g/t) = ((Au(g/t)*$Au/oz*0.032151)+(Ag(g/t)*$Ag/oz*0.032151)+(Zn%*$Zn/lbs*22.0462))/($Au/oz*0.032151).
  4. Assay results for individual metals for each AuEq calculation are reported in Table 1.

Sharyn Alexander, Sun Summit’s President, stated: “These western step-out holes at Buck have significantly expanded our exploration footprint and provided us with a compelling priority target for systematic follow-up drilling. The style, polymetallic nature and grade of the new discovery zone are very similar to what is found in the Horseshoe zone 500 metres to the east. These holes strongly confirm our belief that we are just beginning to scratch the surface of the Buck Main system, where the limits of mineralization are still unconstrained.”

“We await the results from six more holes currently in the lab. Once all results have been reported, we will compile the data, generate an updated geological model and design a systematic follow-up drill program testing these new zones of mineralization as well as previously discovered targets.”

Figure 1. Map showing drill collar locations with selected highlights

Drill Program

Holes BK22-070, -071 and -072 were designed to investigate the extent and continuity of bulk-tonnage style gold-silver-zinc mineralization previously intersected in holes BK21-059 and -065 (Figure 1; see news release February 22, 2022). The new holes confirm strong grade-continuity of near-surface bulk-tonnage style mineralization hosted in dacitic volcaniclastic rocks and quartz-feldspar-porphyry dykes and demonstrate the significant depth potential of the system to the south and west.

Figure 2. Cross section 4350 showing selected highlights

BK22-070, drilled towards the southwest (Figure 2), intersected strongly altered and mineralized andesite below the mineralized dacitic volcaniclastic package highlighted by a composite interval of 0.84 g/t AuEq over 117.7 metres including 1.09 g/t AuEq over 73.5 metres and 2.20 g/t AuEq over 10.3 metres (Table 1). Hole BK22-071, collared from the same pad but drilled with a steeper dip, intersected numerous zones of strong gold-silver-zinc mineralization (e.g., 1.31 g/t AuEq over 18.0 metres within 0.75 g/t AuEq over 47.7 metres, and 1.40 g/t AuEq over 12.0 metres including 2.63 g/t AuEq over 6.0 metres – intervals are downhole core lengths, true widths are unknown). Similar to hole BK22-070, mineralization here continued below the dacites. BK22-072 was collared 60 metres to the west of BK22-070 and -71 and was drilled to the southwest. The hole intersected numerous zones of >1.0 g/t AuEq mineralization down to 500 metres (Table 1) followed by strong sulfide-rich mineralization to the bottom of the hole. This lower zone of mineralization is hosted in dacitic volcaniclastic rocks with strong zinc anomalism (e.g., 187 metres of 0.53% Zn).

The tenure of mineralization intersected in holes BK22-070, -071 and -072 compares favourably to other holes on the property collared 500 metres to the east (see news release July 6, 2021). The cumulative grade thickness through all zones of mineralization in BK22-070 was 202 g/t AuEq*m, BK22-071 was 166 g/t AuEq*m, and BK22-072 was 230 g/t AuEq*m. These results support the considerable potential of the western side of Buck for the development of bulk-tonnage targets. Furthermore, local zones of high-grade gold-silver-zinc mineralization (e.g., 11.37 g/t AuEq over 0.8 metres in BK22-071, and 12.03 g/t AuEq over 1.5 metres in BK22-072 – intervals are downhole core lengths, true widths are unknown) are similar to high-grade vein-hosted mineralization previously intersected near the centre of Buck Main and suggest strong high-grade potential to the west.

Quality Assurance and Quality Control

All sample assay results have been monitored through the Company’s quality assurance / quality control (QA / QC) program. Drill core was sawn in half at Sun Summit’s core logging and processing facility in Houston, B.C. Half of the core was sampled and shipped in sealed and secure bags to the ALS Global preparation facilities in Kamloops, Langley or North Vancouver, B.C. Samples were prepared using standard preparation procedures. Following sample preparation, the pulps were sent to the ALS Global analytical laboratory in North Vancouver, B.C. for analysis. ALS Global is registered to ISO / IEC 17025:2017 accreditations for laboratory procedures.

Core samples were analyzed for 48 elements by ICP-MS on a 0.25 gram sample using a four acid digestion (method ME-MS61L). Gold was analyzed by fire assay on a 30 gram sample with an AAS finish (method Au-AA23). Samples with >10 parts per million (ppm) gold were re-analyzed by fire assay using a gravimetric finish on a 30 gram sample.  Samples with >100 ppm silver were re-analyzed using a four acid digestion and ICP-AES finish. Samples with >10,000 ppm zinc were re-analysed using a four acid digestion and ICP-AES finish.

In addition to ALS Global laboratory QA / QC protocols, Sun Summit implements an internal QA / QC program that includes the insertion of duplicates, standards and blanks into the sample stream.

AuEq incorporates metal prices of $1700/oz Au, $22/oz Ag and $1.60/lbs Zn using the equation: AuEq (AgZn) (g/t) = ((Au(g/t)*$Au/oz*0.032151) + (Ag(g/t)*$Ag/oz*0.032151) + (Zn%*$Zn/lbs*22.0462)) / ($Au/oz*0.032151)

National Instrument 43-101 Disclosure

This news release has been approved by Sun Summit’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has also verified the data disclosed, including sampling, analytical and test data, underlying the technical information in this news release.

Community Engagement

Sun Summit is engaging with First Nations on whose territory the Buck Property is located and is discussing their interests and identifying contract and work opportunities, as well as opportunities to support community initiatives. The Company looks forward to continuing to work with local and regional First Nations as the project continues.

Health and Safety

The Company’s exploration programs are being carried out in full compliance with federal, provincial, and municipal guidelines established in response to the global COVID-19 pandemic. Sun Summit has a rigorous infection prevention and control protocol in place to protect the health of employees and contractors, as well as surrounding communities in which the Company works.

About Sun Summit

Sun Summit Minerals is an exploration company focused on expanding its epithermal gold, silver, and zinc discovery at its flagship 100% controlled Buck Project located in north-central British Columbia near the town of Houston in central B.C.

The Company is exploring multiple high priority targets through systematic exploration campaigns with excellent developed infrastructure and year-round drilling access. The Buck Project has high-grade and bulk-tonnage gold, silver, and zinc potential and is located in an established mining region that includes many former operating mines and current exploration projects.

Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available at www.sunsummitminerals.com.

Link to Figures

Figure 1:

https://sunsummitminerals.com/wp-content/uploads/2022/05/Buck-Drilling-Fig1-NR-Apr-2022.jpg

Figure 2:

https://sunsummitminerals.com/wp-content/uploads/2022/05/Buck_Section_Equity_4350_NR_Apr2022-scaled.jpg

For further information, contact:

Sharyn Alexander
President
info@sunsummitminerals.com
Tel. 778-588-9606

Forward Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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Sun Summit AGM & Corporate Update

By 2022

Vancouver, B.C. April 27, 2022: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) announces that its annual general meeting will be held on Thursday, June 2, 2022, at 10:00 a.m. (Vancouver time) in a hybrid virtual and in person format. Copies of the Notice and Information Circular respecting the meeting are available at www.sunsummitminerals.com/investors/.

Sun Summit also announces the planned retirement of Mr. Robert (Bob) Willis as CEO and a Director upon the completion of his term at the meeting. Mr. Willis has been part of the Company’s board since 2009, when it was known as San Marco Resources Inc. Mr. Willis will take on the role of Senior Advisor to the Company and will continue to be significantly involved with project development and strategic planning.

Tookie Angus, Sun Summit Chairman and co-founder, commented: “On behalf of my fellow directors, we thank Bob for his service, hard work, and dedication to the Company. Bob has seen the Company through pivotal transformations, such as the transition from Mexico to British Columbia, and the discovery at the Buck gold-silver-zinc exploration project in central B.C. For my own part, I would like to say that our relationship has been a singular one. Under his exemplary leadership, his vision and guidance has been a benefit to us all.”

Bob Willis, Sun Summit’s CEO, stated: “After more than 45 years of being associated with some of the most wonderful professionals in the junior resource business, it is time for me to step back. My personal health and my family are some priorities I wish to dedicate more time. My Sun Summit founding partner, Tookie Angus, has been my biggest supporter, for which I am forever grateful.”

“The Company is well financed, has a great discovery project, and is being managed by a group of professionals who I am convinced will take Sun Summit to much higher levels. With the blessing of the board, I intend to continue to be keenly involved in an advisory role in all aspects of the company.“

President Sharyn Alexander stated: “The Company remains fully committed to advancing the Buck Project through systematic exploration targeting. I am very proud of what the Company has accomplished in a short timeframe, including building a first-rate exploration team and using an innovative approach to exploration discovery. I have benefited greatly from Bob’s leadership, and I look forward to continuing that relationship through his advisory role.”

The Company takes this opportunity to thank Mr. Willis for his invaluable contribution to during his years of service and looks forward to starting a new chapter with his role of Senior Advisor.

About Sun Summit

Sun Summit Minerals is an exploration company focused on expanding its epithermal gold, silver, and zinc discovery at its flagship Buck Property located in north-central British Columbia.

The Company is exploring multiple high priority targets through systematic exploration campaigns with year-round drilling access. The Buck Property has high-grade and bulk-tonnage gold, silver, and zinc potential and is located in an established mining region that includes many former operating mines and current exploration projects.

Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available at www.sunsummitminerals.com.

For further information, contact:

Sharyn Alexander
President

info@sunsummitminerals.com
Tel. 778-588-9606

Forward-Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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Sun Summit Retains Jasper Gatrill for Corporate Communications

By 2022

Vancouver, B.C. April 14th, 2022: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) announces it has retained Jasper Gatrill of Vancouver, B.C. to provide corporate communications services commencing April 1, 2022.

Mr. Gatrill has held various corporate communications consulting roles with TSX-V and CSE listed companies. Prior thereto he held positions with two national brokerage firms and worked as a manager and analyst in Listed Issuer Services of the TSX Venture Exchange. Mr. Gatrill is a Chartered Financial Analyst (CFA) and earned his B. Comm. (Finance) from the University of British Columbia.

Mr. Gatrill commented, “Sun Summit is a first-rate mineral exploration company and I am pleased to be joining at an opportune time. Its gold-silver-zinc Buck project is located in a safe jurisdiction with incredible infrastructure including rail, power and road access that facilitates year-round drilling. With a strong management/technical team having recently closed a $6,000,000 financing, the Company intends to complete a significant drill program in 2022 to follow up on last year’s drilling success. I look forward to working with one of the best junior exploration groups.”

Sun Summit has granted Mr. Gatrill an option to purchase 200,000 shares for a period of three years at a price of $0.39 per share. The option vests at the rate of 50,000 shares every three months, commencing three months from granting. Mr. Gatrill has advised Sun Summit that he does not currently own any shares of the Company nor does he have any right to purchase shares other than under this option.

Mr. Gatrill will be paid a fee of $7,000 per month (to be paid from the Company’s working capital) for his services for a term of six months, which term may be extended by mutual agreement of both parties.

Sun Summit thanks the Company’s previous corporate communications provider, Nancy Curry, for her many years of dedicated service.

About Sun Summit

Sun Summit Minerals is an exploration company focused on expanding its epithermal gold, silver, and zinc discovery at its flagship Buck Property located in north-central British Columbia.

The Company is exploring multiple high priority targets through systematic exploration campaigns with year-round drilling access. The Buck Property has high-grade and bulk-tonnage gold, silver, and zinc potential and is located in an established mining region that includes many former operating mines and current exploration projects.

Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available at www.sunsummitminerals.com.

For further information, contact:

Sharyn Alexander
President

Jasper Gatrill
Corporate Communications

info@sunsummitminerals.com

Tel. 778-588-9606

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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Sun Summit Discovers Zone of Strong Copper and Silver Mineralization West of Buck Main and Provides Update From Current Drill Program

By 2022

Vancouver, B.C. April 6, 2022: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) is pleased to provide an update from its current drill program at Buck Main and results from its recently completed property-wide exploration program across the Buck Property, central British Columbia.

Highlights

  • Drilling ongoing: Nine holes have so far been completed at Buck Main.
  • Testing for high-grade structures and the limits of the Buck Main hydrothermal system: Six holes have been completed in the core of the Buck Main and three holes on the western margin.
  • Discovery of strong copper and silver mineralization: A zone of strong copper (Cu) and silver (Ag) mineralization was discovered approximately 1.5 km west of Buck Main where assays of up to 302 grams per tonne (g/t) Ag and 0.47% Cu have been returned in rock chip samples.
  • Soil geochemical anomalies to be evaluated with VTEM: Numerous multi-element soil geochemical anomalies have been identified, which may have additional detailed exploration subsequent to the upcoming property-wide VTEM (Versatile Time Domain Electromagnetic) geophysical survey

Sharyn Alexander, Sun Summit’s President, commented:

“We are very pleased with our drilling progress so far. We have completed nine holes with many more holes planned. The focus for drilling is to build on our significant grid-based program and to investigate new target areas as well as the potential for additional high-grade structures within the Buck Main area.

“We are also very excited to announce the discovery of an outcropping zone of strong silver and copper mineralization just west of the Buck Main target known as the CC zone. Sampling there returned impressive results such as 302 g/t silver and up to 0.47% copper. The zone is open in all directions and clearly warrants significant follow-up surveys.

“The Buck property is surrounded by current and past-producing mines1 as well as multiple advanced-stage development assets. The region has seen a recent resurgence in exploration for copper-molybdenum porphyries as well as epithermal-related gold and silver systems. Our recent reconnaissance-level exploration program across the property has identified multiple geochemical anomalies that suggest proximity to concealed porphyry and epithermal systems. Outcrop is very limited across the property, therefore these prospective areas will be further evaluated with an upcoming property-wide VTEM geophysical survey to develop new drill targets.”

Buck Main Drill Program

The current drill program is designed to follow-up significant results from the recently completed, grid-based 10,327 metre drill program across Buck Main (see news releases dated January 5th, 2022 and February 22nd, 2022).

Nine holes have so far been completed. Three holes have tested the western extent of the Buck Main system where previous results suggested the system remained open (e.g., holes BK21-059 and BK21-065; news release February 22nd, 2022), two holes have tested for high-grade structures central to the Buck Main target (e.g., BK20-012; news release January 5th, 2021), and four holes have focused on testing the eastern-extent of breccia-hosted and disseminated mineralization (e.g., BK21-017; news release May 11th, 2021).

Core samples from the first four holes are in the lab and results will be released once received and interpreted.

Property-Wide Exploration

The focus of the 2021 summer reconnaissance-style exploration program was on the approximately 24 kilometre long, northwest-trending, fault-bound belt of Late Cretaceous Kasalka Group volcanic and volcaniclastic rocks, host to epithermal-related mineralization at the Buck Main target area. The program consisted of geological mapping and prospecting, soil geochemical surveys, and rock-chip sampling in areas of outcropping bedrock.

CC Zone

The CC Zone is centered approximately 1.5 kilometres west of the Buck Main target along the banks of an incised creek. The zone consists of a brecciated and well-mineralized contact between two volcanic units. Mineralization comprises multiple approximately 5 cm wide veins containing variable amounts of copper oxides and silver-bearing sulfosalts and has been traced for 25 metres where the contact is obscured by overburden. Rock chip samples taken in proximity to the contact returned up to 302 g/t Ag, 0.47% Cu as well as 162 g/t Ag, 0.25% Cu (Figure 1). Follow-up work, including grid-based soil-geochemical surveys, detailed geological mapping and prospecting, and IP geophysics, are being planned for CC target area.

Soil Geochemical Surveys

Rocks are poorly exposed across the Buck Property due to the presence of widespread overburden, therefore, the geochemistry of soils are used as a proxy for bedrock geochemistry. Soil samples were collected along property-wide transects and also on focused grids.

Epithermal and porphyry-related pathfinder elements (e.g., antimony, arsenic, zinc, copper, molybdenum) are used to identify areas of high-prospectivity and define footprints of hydrothermally altered bedrock. Areas with high zinc and arsenic are considered priority as a similar element association is associated with Buck-style mineralization.

Numerous open-ended, multi-element pathfinder anomalies were identified (e.g., single line anomalies; Figure 2) and represent key areas that require significantly more sampling to define the extent of the geochemical footprints. These anomalies will also be further investigated during the upcoming property-wide VTEM geophysical survey. This heli-borne survey is designed to map changes in conductivity of the underlying bedrock to help focus exploration on zones of potential hydrothermal-related alteration and mineralization. A full compilation of all exploration data will be reported upon its completion.

Figure 1. Geochemical Anomalies in CC Zone

Figure 2. Zinc and Arsenic Pathfinder Anomalies in Soil Geochemistry

National Instrument 43-101 Disclosure

This news release has been approved by Sun Summit’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has also verified the data disclosed, including sampling, analytical and test data, underlying the technical information in this news release.

Quality Assurance and Quality Control

All sample assay results have been monitored through the Company’s quality assurance / quality control (QA/QC) program. Rock and soil samples were located in the field with a GPS and shipped in sealed and secure bags to the ALS Global preparation facilities in Kamloops, Langley or North Vancouver, B.C. Samples were prepared using standard preparation procedures. Following sample preparation, the pulps were sent to the ALS Global analytical laboratory in North Vancouver, B.C. for analysis. ALS Global is registered to ISO / IEC 17025:2017 accreditations for laboratory procedures.

Rock samples were analyzed for 48 elements by ICP-MS on a 0.25 gram sample using a four acid digestion (method ME-MS61L). Gold was analyzed by fire assay on a 30 gram sample with an AAS finish (method Au-AA23). Samples with >100 ppm silver were re-analyzed using a four acid digestion and ICP-AES finish. Samples with >10,000 ppm zinc were re-analysed using a four acid digestion and ICP-AES finish. Soil samples were analyzed for 53 elements by ICP-MS on a 25 gram sample using an aqua regia digestion (method AuME-ST43).

Community Engagement

Sun Summit is engaging with First Nations on whose territory the Buck Property is located and is discussing their interests and identifying contract and work opportunities, as well as opportunities to support community initiatives. The Company looks forward to continuing to work with local and regional First Nations as the project continues.

Health and Safety

The Company’s exploration programs are being carried out in full compliance with federal, provincial, and municipal guidelines established in response to the global COVID-19 pandemic. Sun Summit has a rigorous infection prevention and control protocol in place to protect the health of employees and contractors, as well as surrounding communities in which the Company works.

Buck Property

Sun Summit’s flagship Buck Property is a high-grade and bulk tonnage gold, silver, and zinc property located near the town of Houston in central B.C. The 100% controlled property has excellent developed infrastructure and allows year-round exploration access.

About Sun Summit

Sun Summit Minerals is an exploration company focused on expanding its epithermal gold, silver, and zinc discovery at its flagship Buck Property located in north-central British Columbia.

The Company is exploring multiple high priority targets through systematic exploration campaigns with year-round drilling access. The Buck Property has high-grade and bulk-tonnage gold, silver, and zinc potential and is located in an established mining region that includes many former operating mines and current exploration projects.

Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available at www.sunsummitminerals.com.

Link to Figures

Figure 1:
https://sunsummitminerals.com/wp-content/uploads/2022/04/Buck-CC-Target-Apr-NR.jpg

Figure 2:
https://sunsummitminerals.com/wp-content/uploads/2022/04/Buck-Regional-Soils-Apr-NR.jpg

 

For further information, contact:

Sharyn Alexander
President

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

Tel. 778-588-9606

 Forward-Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release

1Their mineralization is not necessarily indicative of the same mineralization at Buck.

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Sun Summit Obtains DTC Eligibility

By 2022

Vancouver, B.C. March 30, 2022: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) is pleased to announce it has received confirmation from the Depository Trust Company (DTC) that its common shares are now eligible for electronic clearing and settlement through the DTC in the United States.

Sharyn Alexander, President of Sun Summit, said: "We are pleased to have obtained our DTC eligibility, which streamlines the process of trading shares in the United States, and benefits our American shareholders. With DTC eligibility, the increased accessibility and visibility is expected to attract greater investment and trading liquidity from American investors as our shares will be available to a broader range of investors."

DTC is a subsidiary of the Depository Trust & Clearing Company, a US company that manages the electronic clearing and settlement of securities for publicly traded companies in the United States. With DTC eligibility, existing investors and brokers benefit from potentially greater liquidity, execution speeds, and reduction in costs, while opening the door to new investors that may have been previously restricted from the Company's common shares.

Sun Summit’s common shares now trade on the OTCQB under the symbol SMREF and will continue to trade on the TSX Venture Exchange under the symbol SMN.

About Sun Summit

Sun Summit Minerals is an exploration company focused on expanding its epithermal gold, silver, and zinc discovery at its flagship Buck Project located in north-central British Columbia.

The Company is exploring multiple high priority targets through systematic exploration campaigns with year-round drilling access. The Buck Project has high-grade and bulk-tonnage gold, silver, and zinc potential and is located in an established mining region that includes many former operating mines and current exploration projects.

Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available at www.sunsummitminerals.com.

For further information, contact:

Sharyn Alexander
President

Nancy Curry
Corporate Communications

info@sunsummitminerals.com 

Tel. 778-588-9606

Forward-Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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Sun Summit Closes $6,000,000 Private Placement

By 2022

Vancouver, British Columbia – March 25, 2022: Sun Summit Minerals Corp. (TSXV: SMN and OTCQB: SMREF) is pleased to announce that it has closed its non-brokered private placement for gross proceeds of $6,000,400 (the “Offering”) by the issuance of:

(i) 1,979,300 charity “flow-through” units at a price of $0.63 each (“CFT Units”) for $1,246,959, (ii) 7,830,079 “flow-through” units at a price of $0.52 each (“FT Units”) for $4,071,641, and

(iii) 1,515,111 non-flow-through units at a price of $0.45 each (“NFT Units”) for $681,800.

Sharyn Alexander, Sun Summit’s President, stated “Closing this financing has placed Sun Summit in a strong position to continue to explore the Buck Main target and other potential discoveries within the property package. We are thankful for the ongoing support of our existing shareholders and are pleased to increase the support of institutional shareholders who were contributors in the financing. With a 4,500 metre drill program currently underway, and an aggressive exploration campaign to follow, the Company is positioned for an exciting year.”

Each FT Unit and CFT Unit consisted of one common share of the Company (each, a “FT Share”) issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each NFT Unit consisted of one (non-flow-through) common share of the Company (an “NFT Share”), and one half of a Warrant. Each whole warrant (a “Warrant”) entitles the purchase of one (non-flow-through) common share of the Company (a “Warrant Share”) until March 25, 2024 at a price of $0.70.

Eventus Capital Corp. acted as a finder in respect of the Offering. The Company paid finder’s fees consisting of a cash commission of 6% of the gross proceeds raised under the Offering from investors introduced by finders and issued finder warrants (“Finder Warrants”) to purchase that number of Warrant Shares equal to 6% of the number of Units sold to such investors. Each Finder Warrant entitles the purchase of one Warrant Share at a price of $0.70 until March 25, 2024. Eventus received finder’s fees of $255,423 and 469,750 Finder Warrants, Haywood Securities Inc. received finder’s fees of $50,568 and 108,784 Finder Warrants, Canaccord Genuity Corp. received finder’s fees of $11,475 and 25,500 Finder Warrants and Richardson Wealth Ltd. received finder’s fees of $1,872 and 3,600 Finder Warrants, for a total of $319,338 and 607,634 Finders Warrants.

The Company intends to use the gross proceeds raised from the “flow-through” portion of the Offering for the exploration of the Company’s Buck Property and other Canadian properties it may acquire. Those proceeds will be used for “Canadian Exploration Expenses” under the meaning of the Income Tax Act (Canada), which will be renounced with an effective date no later than December 31, 2022, to the purchasers of the FT Units and CFT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares.

The FT Shares, NFT Shares, Warrants and Warrant Shares will have a four month hold period expiring on July 25, 2022. Two of Sun Summit’s directors participated in the financing by purchasing $225,000 in FT Units which constituted a related party transaction for the purposes of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection Of Minority Security Holders In Special Transactions. There was insufficient time to file a material change report more than 21 days before the closing of the financing as required by Policy 5.9 and MI 61-101.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Sun Summit

Sun Summit Minerals is an exploration company focused on expanding its epithermal gold discovery at its flagship Buck Project located in north-central British Columbia.

The Company is exploring multiple high priority targets through methodical, well-funded exploration campaigns with year-round drilling access. The Project has high-grade and bulk-tonnage gold, silver, and zinc potential and is located in an established mining region that includes many former operating mines and current exploration projects.

Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available at www.sunsummitminerals.com.

For further information, contact:

Sharyn Alexander
President

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

Tel. 778-588-9606

Forward-Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Except as required by applicable securities laws and regulation, Sun Summit Minerals Corp. (SMN) disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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Sun Summit Increases Private Placement to $6,000,000

By 2022

Vancouver, British Columbia – February 24, 2022: Sun Summit Minerals Corp. (TSXV: SMN and OTCQB: SMREF) is pleased to announce that, due to strong investor demand, it has increased its non-brokered private placement to gross proceeds of $6,000,000 (the "Offering") consisting of: (i) charity "flow-through" units at a price of $0.63 each ("CFT Units"), (ii) "flow-through" units at a price of $0.52 each ("FT Units"), and (iii) non-flow-through units at a price of $0.45 each ("NFT Units"). Eventus Capital Corp. has been appointed as a finder in connection with the Offering.

Each FT Unit and CFT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each NFT Unit will consist of one (non-flow-through) common share of the Company (an "NFT Share"), and one half of a Warrant. Each Warrant will entitle the purchase of one (non-flow-through) common share of the Company (a "Warrant Share") for two years at a price of $0.70.

The Company will pay finder’s fees consisting of a cash commission of 6% of the gross proceeds raised by Eventus under the Offering and finder warrants ("Finder Warrants") to purchase that number of Warrant Shares equal to 6% of the number of Units sold by Eventus pursuant to the Offering. Each Finder Warrant will entitle the purchase of one Warrant Share at a price of $0.70 for two years.

The Company intends to use the proceeds raised from the Offering for the exploration of the Company’s Buck Property and other Canadian properties it may acquire. The gross proceeds from the issuance of the FT Shares will be used for "Canadian Exploration Expenses" (within the meaning of the Income Tax Act (Canada)), which will be renounced with an effective date no later than December 31, 2022, to the purchasers of the FT Units and CFT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares.

The Offering is scheduled to close on or around March 16, 2022, and is subject to certain conditions including, but not limited to, the receipt of approval of the TSX Venture Exchange. The FT Shares, NFT Shares, Warrants and Warrant Shares will have a hold period of four months from the closing date.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Sun Summit

Sun Summit Minerals is an exploration company focused on expanding its epithermal gold discovery at its flagship Buck Project located in north-central British Columbia.

The Company is exploring multiple high priority targets through methodical, well-funded exploration campaigns with year-round drilling access. The Project has high-grade and bulk-tonnage gold, silver, and zinc potential and is located in an established mining region that includes many former operating mines and current exploration projects.

Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available at www.sunsummitminerals.com.

For further information, contact:

Sharyn Alexander
President

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

Tel. 778-588-9606

Forward-Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Except as required by applicable securities laws and regulation, Sun Summit Minerals Corp. (SMN) disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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Sun Summit Arranges $4,000,000 Private Placement

By 2022

Vancouver, British Columbia – February 23, 2022: Sun Summit Minerals Corp. (TSXV: SMN and OTCQB: SMREF) is pleased to announce that it has arranged a non-brokered private placement consisting of: (i) charity “flow-through” units at a price of $0.63 each (“CFT Units”), (ii) “flow-through” units at a price of $0.52 each (“FT Units”), and (iii) non-flow-through units at a price of $0.45 each (“NFT Units”) for gross aggregate proceeds of $4,000,000 (the “Offering”). Eventus Capital Corp. has been appointed as a finder in connection with the Offering.

Sharyn Alexander, Sun Summit’s President, stated “This financing provides a milestone opportunity for our shareholders, to continue to realize and expand on the significant size and scale of the Buck Main mineralized footprint currently being drilled. In addition, as exploration targets evolve from other areas of the 33,000 hectare Buck property, these funds will assist in financial support to one day realize the full potential of one of the highest metal endowed areas of the region.”

Each FT Unit and CFT Unit will consist of one common share of the Company to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, a “FT Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each NFT Unit will consist of one (non-flow-through) common share of the Company (an “NFT Share”), and one half of a Warrant. Each Warrant will entitle the purchase of one (non-flow-through) common share of the Company (a “Warrant Share”) for two years at a price of $0.70.

The Company will pay finder’s fees consisting of a cash commission of 6% of the gross proceeds raised by Eventus under the Offering and finder warrants (“Finder Warrants”) to purchase that number of Warrant Shares equal to 6% of the number of Units sold by Eventus pursuant to the Offering. Each Finder Warrant will entitle the purchase of one Warrant Share at a price of $0.70 for two years.

The Company intends to use the proceeds raised from the Offering for the exploration of the Company’s Buck Property and other Canadian properties it may acquire. The gross proceeds from the issuance of the FT Shares will be used for “Canadian Exploration Expenses” (within the meaning of the Income Tax Act (Canada)) (the “Qualifying Expenditures”), which will be renounced with an effective date no later than December 31, 2022, to the purchasers of the FT Units and CFT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares.

The Offering is scheduled to close on or around March 16, 2022, and is subject to certain conditions including, but not limited to, the receipt of approval of the TSX Venture Exchange. The FT Shares, NFT Shares, Warrants and Warrant Shares will have a hold period of four months from the closing date.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Sun Summit

Sun Summit Minerals is an exploration company focused on expanding its epithermal gold discovery at its flagship Buck Project located in north-central British Columbia.

The Company is exploring multiple high priority targets through methodical, well-funded exploration campaigns with year-round drilling access. The Project has high-grade and bulk-tonnage gold, silver, and zinc potential and is located in an established mining region that includes many former operating mines and current exploration projects.

Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available at www.sunsummitminerals.com.

For further information, contact:

Sharyn Alexander
President

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

Tel. 778-588-9606

Forward-Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Except as required by applicable securities laws and regulation, Sun Summit Minerals Corp. (SMN) disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

 

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Sun Summit Sells Mexican Properties and Royalties to Green Earth

By 2022

Vancouver, B.C. February 15, 2022: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) is pleased to announce that it has sold its property and royalty interests covering approximately 92,488 hectares in Mexico to Green Earth Metals Inc., an arm’s length private British Columbia company founded by geoscientist Richard Osmond, for 5,000,000 Green Earth common shares and warrants to purchase a further 2,000,000 Green Earth common shares for five years.

Highlights

  • Green Earth common shares: Sun Summit will receive 5,000,000 common shares of Green Earth representing approximately 32.4% of Green Earth’s post-purchase outstanding common shares.
  • Green Earth warrants: Sun Summit will also receive warrants to purchase a further 2,000,000 common shares of Green Earth. The warrants will be exercisable for five years at a price per share equal to the offering price of Green Earth’s shares in its initial public offering.
  • Eight wholly-owned properties and three NSR royalties being sold: Sun Summit has agreed to sell eight wholly-owned properties covering approximately 83,548 hectares, title to which has either been granted or is pending (including one property covering 74,088 hectares being reviewed for possible archeological sites within the concession area), and three 1% net smelter returns royalties on properties covering 8,940 hectares, title to which has either been granted or is pending.

Bob Willis, Sun Summit’s CEO, stated, "With our current corporate focus being on our flagship Buck gold-silver-zinc project in B.C., we have been actively working to create additional shareholder value through divestiture of our Mexican assets. The key properties which we sold are primarily porphyry copper targets, one of which is drill ready. Our stakeholders will now have significant exposure to copper exploration, with no direct costs to Sun Summit. Exploration will be carried out by an experienced Green Earth management team, who we know well."

Since acquiring its option on the Buck Property in July 2019, Sun Summit has not carried out any significant exploration on its Mexican properties.

National Instrument 43-101 Disclosure

This news release has been approved by Sun Summit’s CEO, Robert D. Willis, P. Eng. a "Qualified Person" as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Sun Summit

Sun Summit Minerals is an exploration company focused on expanding its epithermal gold discovery at its flagship Buck Project located in north-central British Columbia. The Company is exploring multiple high priority gold, silver and zinc targets through methodical, well-funded exploration campaigns with year round drilling access. The Project has high-grade and bulk-tonnage gold-silver-zinc potential and is located in a mining-established region that includes many former operating mines and current exploration projects.

Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available at www.sunsummitminerals.com

For further information, contact:

Sharyn Alexander
President

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

Tel. 778-588-9606

Forward Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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Sun Summit Reports High Metallurgical Recoveries for Zinc through Preliminary Scoping Scale Metallurgical Test Work at Buck Property

By 2022

Vancouver, B.C. February 8th, 2022: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) is pleased to announce the potential importance of zinc to future economic analyses at the Buck Property, central B.C. Zinc will be included in future gold-equivalent calculations as it has potential to be a significant economic contributor to the metal budget of the property. The results for the remaining drill holes from the fall 2021 drill program will be released very shortly.

Highlights

  • Preliminary metallurgical test work from two ~10 metre composite samples from two drill holes suggests zinc is highly recoverable using conventional methods and may contribute favourably to future economic studies.
  • Preliminary data from the ongoing studies suggests gold responds well to conventional gravity and cyanide leach testing (up to 94% recovery using a primary grind size k80 of 60 µm).
  • Complete gold and silver metallurgical test work is ongoing with more tests required to fully evaluate recoveries.
  • Including zinc in gold-equivalent (AuEq) calculations provides a significant increase in gold-equivalent grades. Recalculation of previously reported select intervals from broad zones of bulk tonnage-style mineralization are as follows:
    • 241 metres of 1.25 g/t AuEq (0.69 g/t Au, 5.14 g/t Ag, 0.77% Zn), including 45 metres of 2.36 g/t AuEq (1.64 g/t Au, 7.69 g/t Ag and 0.96% Zn) in BK21-017.
    • 409 metres of 0.87 g/t AuEq (0.45 g/t Au, 3.97 g/t Ag and 0.57% Zn), including 265 metres of 1.10 g/t AuEq (0.58 g/t Au, 5.12 g/t Ag and 0.71% Zn) in BK21-033.
    • 187 metres of 1.02 g/t AuEq (0.67 g/t Au, 4.4 g/t Ag and 0.46% Zn), including 54 metres of 1.91 g/t AuEq (1.02 g/t Au, 10.80 g/t Ag and 1.17% Zn) in BK21-032.

Note. Intervals were reported on July 6th, 2021. AuEq assumes metal prices of $1700/oz Au, $22/oz Ag and $1.60/lbs Zn using the equation: AuEq(g/t) = ((Au(g/t)*$Au/oz*0.032151)+(Ag(g/t)*$Ag/oz*0.032151)+(Zn%*$Zn/lbs*22.0462))/($Au/oz*0.032151). Metallurgical test work is ongoing and results are preliminary (see below).

"We initiated exploration-stage metallurgical studies to better understand the potential recoveries of gold, silver and zinc at Buck. While the final results for gold and silver are pending, preliminary data indicate zinc is highly recoverable using standard industry methods," stated Sharyn Alexander, President of Sun Summit.

"All styles of intermediate sulfidation, epithermal-related gold mineralization at Buck include base metals, however, zinc is the most prolific. Some areas assay greater than 7% zinc in sphalerite-cemented breccias, and ~0.5 to 1% zinc is common throughout broad zones of disseminated, bulk-tonnage style mineralization. We knew zinc was ubiquitous in the Buck mineralized zones but were hesitant to include it in gold-equivalent calculations until we could confirm it was highly recoverable with standard processing techniques. Now, with these preliminary metallurgical results for zinc, we are confident it would be an important contributor to the metal budget of the system in a potential mining scenario. For that reason, we will include zinc in AuEq calculations for drill intervals going forward."

Preliminary Metallurgical Test Work

Based on the presence of widespread sphalerite (zinc-sulfide) mineralization intersected in all drill holes across the property (e.g., news releases dated June 10th, 2021 and November 30th, 2021), it was considered important to better understand zinc as a possible economic contributor to the metal budget of the property. Three composite samples considered representative of the three main styles of gold mineralization were submitted to Base Metallurgical Labs (Kamloops) for preliminary bench-scale studies. A 14 metre (~48 kg) composite sample of sphalerite-cemented breccias from hole BK21-032, and a 14 metre (~50 kg) composite sample of lapilli tuff with disseminated sphalerite from hole BK20-010, were specifically selected for zinc-flotation studies.

These two composite samples responded well to zinc flotation tests using a primary grind size k80 of 100 µm, recovering up to 98% of the zinc to a 10% rougher mass concentrate that assayed 26% zinc. Further development testing, including cleaning and primary grind optimization, will be required to take full advantage of zinc together with gold and silver.

Preliminary data from the ongoing studies suggests gold responds well to conventional gravity and cyanide leach testing (up to 94% recovery using a primary grind size k80 of 60 µm). Additional test work is ongoing to fully evaluate and determine silver recoveries.

National Instrument 43-101 Disclosure

This news release has been approved by Sun Summit’s CEO, Robert D. Willis, P. Eng. a "Qualified Person" as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has also verified the data disclosed, including sampling, analytical and test data, underlying the technical information in this news release.

Community Engagement

Sun Summit is engaging with First Nations on whose territory the Buck Property is located and is discussing their interests and identifying contract and work opportunities, as well as opportunities to support community initiatives. The Company looks forward to continuing to work with local and regional First Nations as the project continues.

Health and Safety

The Company’s exploration programs are being carried out in full compliance with federal, provincial, and municipal guidelines established in response to the global COVID-19 pandemic. Sun Summit has a rigorous infection prevention and control protocol in place to protect the health of employees and contractors, as well as surrounding communities in which the Company works.

Buck Property

Sun Summit’s flagship Buck Project is a high-grade and bulk tonnage gold, silver, and zinc property located near the town of Houston in central B.C. The 100% controlled property has excellent developed infrastructure and allows year-round exploration access.

About Sun Summit

Sun Summit Minerals is an exploration company focused on expanding its epithermal gold, silver, and zinc discovery at its flagship Buck Project located in north-central British Columbia.

The Company is exploring multiple high priority targets through systematic exploration campaigns with year-round drilling access. The Buck Project has high-grade and bulk-tonnage gold, silver, and zinc potential and is located in an established mining region that includes many former operating mines and current exploration projects.

Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available at www.sunsummitminerals.com.

For further information, contact:

Sharyn Alexander
President

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

Tel. 778-588-9606

Forward-Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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