sanmarco

Vancouver, British Columbia – July 8, 2021: Sun Summit Minerals Corp. (TSXV: SMN and OTC Pink: SMREF) (“Sun Summit” or the “Company”) is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc. and Eventus Capital Corp. (collectively, the “Agents”) to act as co-lead agents and joint bookrunners in connection with a fully marketed, private placement for gross proceeds of up to C$ 4,000,000 (the “Offering”). The Offering is to be comprised of a combination of flow-through units of the Company (the “FT Units”) at a price of C$ 0.66 per FT Unit and flow-through units of the Company to charitable purchasers (the “Charity FT Units”) at a price of C$ 0.81 per Charity FT Unit. The Offering is subject to minimum gross proceeds of C$ 2,000,000 from the sale of Charity FT Units.

Each FT Unit and Charity FT 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 Warrant shall entitle the holder to purchase one (non-flow-through) common share of the Company (each, a “Warrant Share”) at a price of C$ 0.90 for 24 months after the closing of the Offering.

The Agents will have an option, exercisable in full or in part up to 48 hours prior to the closing of the Offering, to sell up to an additional C$ 1,000,000 in any combination of FT Units and Charity FT Units at their respective offering price.

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, 2021 to the purchasers of the FT Units and Charity FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each subscriber of FT Units and Charity FT Units for any additional taxes payable by such subscriber as a result of the Company’s failure to renounce the Qualifying Expenditures.

The Offering is scheduled to close on or around July 29, 2021 and is subject to certain conditions including, but not limited to, the receipt of approval of the TSX Venture Exchange. The FT 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 gold and silver targets through methodical, well-funded exploration campaigns with year round drilling access. The Project has high-grade and bulk-tonnage gold and silver 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, M.Sc.
VP Technical Services

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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Vancouver, B.C. February 9^th, 2021: Sun Summit Minerals Inc. (TSX-V: SMN; OTC: SMREF) (“Sun Summit” or the “Company”) is pleased to announce that it has commenced a significant drill program at the Buck Property, central British Columbia. Sun Summit will complete over 5,000 metres of drilling focused on expanding zones of high-grade gold mineralization.

Highlights

• Sun Summit commences an aggressive follow-up drill program to target high-grade gold mineralization.
• Re-logging of the high-grade gold intercepts from discovery hole BK20-012 (17 metres of 5.86 grams per tonne (g/t) gold including 3 metres of 23.05 g/t gold, and 7.5 metres of 10.19 g/t gold; SMN news release dated January 5^th, 2021) identified zones of fine visible gold associated with discrete epithermal-related quartz + sulfide veins.
• Select samples from hole BK20-012 are being analysed for metallic screen fire assay to better characterise the grade of the visible gold-bearing zones.

Figure 1. Photo of fine grained visible gold mineralization (BK20-012 @ 337.5 m; 1.5 metres of 49.60 g/t Au (see SMN news release dated January 5^th, 2021).

Bob Willis, Sun Summit’s CEO, states, “We are excited to commence this round of drilling at our Buck property. The identification of visible gold throughout our discovery hole is significant and confirms our assay data. Running these select samples, as well as samples from other mineralized zones, for metallic screen fire assay will further investigate the grade of these intercepts. This data will be compared to our fire assay data to better inform our sampling and analytical protocols going forward if visible gold is identified again.”

Drill Program

The current drill program (see SMN news released dated January 19^th, 2021) has three primary objectives;

1. target high-grade gold mineralization peripheral to discovery hole BK20-012,
2. test chargeability anomalies interpreted to be associated with sulfide and potential gold mineralization, and
3. investigate the strike-extent of sulfide-cemented, breccia-hosted, near or at surface, bulk-tonnage gold mineralization.

Drill crews are now onsite, and the drill is currently investigating the extent of high-grade gold mineralization identified in drill hole BK20-012.

Visible Gold

A detailed re-evaluation of key intercepts from BK20-012 revealed the presence of visible gold associated with quartz + pyrite + sphalerite veinlets (Figure 1). Select samples from the hole are being run at the ALS Global analytical facility in North Vancouver for metallic screen fire assay to better define the nature and grade of gold mineralization. The metallic screen method utilises a larger sample and a tailored preparation procedure to systematically capture native gold, if present. These methods yield a more robust analytical and statistical estimate of gold grade. Results from this metallic screen study will be compared to the traditional fire assay data to define a statistical based workflow for sampling and analyzing intervals with high-grade gold mineralization.

Buck Property

The recently expanded 33,000 hectare property, approximately 12 kilometres south of Houston, British Columbia, has excellent nearby infrastructure and allows for year-round road-accessible exploration.

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.

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 Corp. (formerly San Marco Resources Inc.) is a Canadian mineral exploration company actively pursuing world class gold and silver projects with a focus in mining friendly jurisdictions.

The Company’s principal focus is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property is located in a mining-friendly region that includes many former and current operating mines.

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 Photo
http://sunsummitminerals.com/wp-content/uploads/2021/02/Figure1_FineGrainedVisibleGold_NR_Feb9.jpg

For further information, contact:

Sharyn Alexander, M.Sc.
VP Technical Services

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 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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Vancouver, B.C. January 19^th, 2021: Sun Summit Minerals Inc. (TSX-V: SMN; OTC: SMREF) (“Sun Summit” or the “Company”) is pleased to announce the start of a significant drill program at the Buck Property, central British Columbia, in late January. Sun Summit plans to complete over 5,000 metres of drilling targeting high-grade gold mineralization.

Highlights

• Sun Summit will mobilize crews to commence an aggressive follow-up drill program to target high-grade gold mineralization near discovery hole BK20-012 (17 metres of 5.86 grams per tonne (g/t) gold including 3 metres of 23.05 g/t gold, and 7.5 metres of 10.19 g/t gold; SMN news release dated January 5^th, 2021).
• Over 5,000 metres is planned for the first set of drill holes.
• A new property-scale exploration model defined by high-chargeability anomalies in relation to mineralized zones was used to identify numerous additional drill targets.
• Several holes are designed to test the gold mineralization potential of four newly identified chargeability anomalies.

Bob Willis, Sun Summit’s CEO, stated, “We are excited to commence another significant round of drilling at our Buck property. The primary objective for this drill program is to expand on high-grade gold zones discovered in our last phase of drilling. Our new 3D modelling of mineralized areas on the Buck property in relation to our 3D geophysical chargeability model is being used to spot new drill holes in areas we consider significant. Two untested chargeability anomalies are priority targets and will be a considerable focus. Over 5,000 metres of diamond drilling will be completed for initial planned holes, with additional drilling expected after initial drill hole assay results are received.”

Exploration Model

Based on new geological and structural mapping together with induced polarization (IP) geophysical data and downhole geochemical and lithological data, an updated and comprehensive exploration model for the property has been developed. Key to this model are data from the recently completed 3D IP survey (see SMN news release dated November 5^th, 2020) and the location of chargeability anomalies in spatial relation to gold-bearing mineralized zones intersected in recent drilling (see SMN news release dated January 5^th, 2021). High-chargeability anomalies are interpreted to represent zones of high-sulfide content, likely disseminated, as these minerals and textures may generate a strong IP-effect.

The 3D chargeability model is centered on a large >30 millisecond anomaly interpreted to have been faulted and offset by a series of north-south trending normal faults (Figure 1). From east to west the faults are known as Silica, Central and West faults. Due to widespread overburden on the western side of the property, the locations of these post-mineralization faults are also largely based on interpreted offsets of mineralised quartz-feldspar porphyritic dykes intersected in previous drill holes and on the spatial extent of multi-element soil geochemical anomalies (Figure 1).

Figure 1. Maps showing different depth plans (150 and 350 metre) of the inverted chargeability model and the surface traces key structures.

The easternmost, near-surface, chargeability anomaly spatially correlates with gold-bearing sulfide-cemented breccias intersected in the top of numerous drill holes (e.g., BK20-06, 46 metres of 1.12 g/t gold equivalent (AuEQ) including 24.7 metres of 1.69 g/t AuEQ). This anomaly is offset on its western margin and down-dropped 100 metres by the Central fault where it measures approximately 400 by 230 by 180 metres. The high-grade intervals in discovery hole BK20-012 spatially correlate with the bottom of the untested C1 anomaly (Figure 2). The western extent of the C1 anomaly is interpreted to have been offset and down-dropped by the Western fault where an elongate 650 by 350 by 300 metre chargeability anomaly (C2) is observed with its top approximately 200 metres below surface. This significant >30 millisecond chargeability anomaly is untested and represents a priority target.

Figure 2. East – west cross section from the Horseshoe zone to the C2 anomaly showing selected drill traces of Phase 3 drill holes and chargeability anomalies.

Figure 2 shows an east-west cross section from the eastern Horseshoe zone to the western C2 anomaly, a distance of approximately 750 metres. Selected planned drill holes are plotted on the cross section as well as pierce-points of planned drill holes projecting into the cross section to highlight the focus of the upcoming drill program. These drill holes are designed to test the gold mineralization potential of the C1 and C2 anomalies. Numerous additional holes are planned to test the areas between the anomalies as well as the mineralization potential below the anomalies. Many holes bottomed in pervasively altered and locally mineralized volcanic rocks (e.g., BK20-012) suggesting the epithermal-related system is open at depth.

Additional untested chargeability anomalies are observed. Anomaly C3 is approximately 400 metres southwest of the Horseshoe Zone and anomaly C4 is approximately 900 metres northwest of the Horseshoe zone (Figure 1). Multiple drill holes are also planned to test these anomalies.

Drill Program

The upcoming drill program is designed with three primary objectives:

1) Target high-grade gold mineralization peripheral to discovery hole BK20-012 (e.g., BK20-012, 17 metres of 5.86 g/t gold including 3 metres of 23.05 g/t gold, and 7.5 metres of 10.19 g/t gold (see SMN news release dated January 5^th, 2021). Multiple drill holes are planned to investigate the extent of high-grade gold mineralization between the Trench and Horseshoe zones.

2) Test chargeability anomalies interpreted to be associated with sulfide and potential gold mineralization. Multiple drill holes are designed to test the centres and margins of three significant chargeability anomalies (C1, C2, and C3) identified in a recent 3D IP survey.

3) Investigate the strike extent of sulfide-cemented breccia-hosted mineralization (e.g., BK20- 006, 46 metres of 1.12 g/t AuEQ including 24.7 metres of 1.69 g/t AuEQ (see SMN news release dated January 5^th, 2021). Multiple drill holes are planned to further test the near-surface, bulk-tonnage gold potential of the Horseshoe Zone.

Geological crews have been mobilised to the property to re-log key drill holes from Phase 2 drilling and to survey new drill pads in preparation for the arrival of drill crews later this month.

Induced Polarization Survey

The 2 by 2.5 kilometre IP survey was conducted by SJ Geophysics Ltd. in September and October 2020 using the Volterra-3D IP 5 line Acquisition System. The 20 line kilometre survey was conducted on 200 metre spaced north-south lines. Further technical details on the instrumentation and acquisition settings employed at Buck can be found at www.sjgeophysics.com.

Buck Property

The recently expanded 33,000 hectare property, approximately 12 kilometres south of Houston, British Columbia, has excellent nearby infrastructure and allows for year-round road-accessible exploration.

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.

Some data disclosed in this news release (e.g., Figure 2) relating to sampling and drilling results is historical in nature. Neither the Company nor a qualified person has sufficiently verified this data, and therefore, investors should not place undue reliance on such data.

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 Corp. (formerly San Marco Resources Inc.) is a Canadian mineral exploration company actively pursuing world class gold and silver projects with a focus in mining friendly jurisdictions.

The Company’s principal focus is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property is located in a mining-friendly region that includes many former and current operating mines.

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:
http://sunsummitminerals.com/wp-content/uploads/2021/01/Buck_Fig1_IP_Plan_Jan19_NR_v2-scaled.jpg

Figure 2:
http://sunsummitminerals.com/wp-content/uploads/2021/01/Buck_Fig2_IP_Section_Jan19_NR-scaled.jpg

For further information, contact:

Sharyn Alexander, M.Sc.
VP Technical Services

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 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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Vancouver, BC, January 13, 2021: Sun Summit Minerals Corp. (TSX-V: SMN) announces that it has granted options to purchase 1,300,000 common shares at $0.43 per share for five years to directors, officers, employees and consultants.

About Sun Summit

Sun Summit Minerals (formerly San Marco Resources Ltd.) is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc, and copper projects with a focus in mining friendly jurisdictions in both British Columbia and Mexico.

The Company’s principal focus is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property is located in a mining-friendly region that includes many former and current operating mines. The Company’s portfolio also includes several prospective, early stage exploration properties in Mexico.

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, M.Sc.
VP Technical Services

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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Vancouver, B.C. January 5^th, 2021: Sun Summit Minerals Corp. (TSX-V: SMN; OTC: SMREF) (“Sun Summit” or the “Company”) is pleased to announce the discovery of high-grade gold (Au) and silver (Ag) mineralization on the Buck Property, central British Columbia. The 22,000 hectare property, approximately 12 kilometres south of Houston, British Columbia, has excellent nearby infrastructure and allows for year-round road-accessible exploration. Sun Summit recently completed 4,180 metres of drilling in 10 diamond drill holes. Results from all holes are reported.

Highlights

• A significant high-grade Au discovery has been made in an area previously untested between the Horseshoe and Trench zones: BK20-012 intersected multiple high-grade Au intervals, 17 metres of 5.86 grams per tonne (g/t) Au including 3 metres of 23.05 g/t Au, and 7.5 meters of 10.19 g/t gold Au including 1.5 metres of 49.60 g/t Au. These new zones are open in all directions.

• Extensive zones of near-surface Au + Ag mineralization characteristic of the Horseshoe Zone confirms the bulk-tonnage potential of the Buck property. BK20-006 intersected 46 metres of 1.12 g/t gold equivalent (AuEQ) including 24.7 metres of 1.69 g/t AuEQ and BK20-012 intersected 40.5 meters of 1.03 g/t AuEQ.

• All holes drilled to date intersected significant intervals of Au + Ag mineralization and many holes ended in mineralization. BK20-010 cut 8.1 metres of 1.25 g/t AuEQ and 5.6 metres of 1.95 g/t AuEQ near the bottom of the hole. BK20-012 ended in 12.7 metres of 1.05 g/t AuEQ.

• The drill program will resume this month with three primary objectives, 1) target new high-grade Au mineralization peripheral to BK20-012, 2) drill new geophysical targets interpreted to be associated with Au mineralization, and 3) expand drilling footprint in zones of near-surface bulk-tonnage style mineralization. Further details will be provided in an upcoming release.

Note: Gold equivalent (AuEQ) is based on a 75:1 (Ag:Au) ratio. Intervals are downhole core lengths. True widths are unknown.

Bob Willis, Sun Summit’s CEO, stated: “The discovery of several new zones of high-grade gold mineralization is a complete game changer for our current exploration model at Buck. This is an important milestone for all Sun Summit’s shareholders as it demonstrates the existence of previously unrecognised high-grade gold mineralization. Results from BK20-012 and its proximity to untested chargeability anomalies from our recently completed IP survey bode well for additional discoveries.

This discovery of high-grade gold mineralization is the result of our technical team’s hard work to develop and apply new exploration models at Buck and I commend them on this discovery. Based on new interpretations, changes made during this program included deeper drill holes with different orientations compared to historic drilling. Deeper holes succeeded in intersecting new gold zones below historic drill depths and most of these are wide open for expansion. Better hole orientations have encountered several significant gold intervals at or near surface.

We are designing a follow-up drill program to expand on these new zones and to explore for more high-grade mineralization. Sun Summit is financed and permitted for this program that will start as soon as possible. Buck has no seasonality issues for drilling. We are very excited about these new developments and plan to hit this hard.”

Buck Property Drill Program

The primary aim of the recent 2020 drill program was to test the lateral and vertical extent of epithermal-related Au + Ag mineralization outlined by previous drilling and new geological and structural mapping (see SMN’s news release dated September 28^th, 2020). Ten diamond drill holes totalling 4,180 metres were completed primarily focused on the Horseshoe and the Buck North zones (Figure 1).

Figure 1. Buck Property collar locations

Horseshoe to Trench Zone

One drill hole tested a large gap in historic drill data between the Trench Zone (see SMN’s news release dated June 23^rd, 2020 for historic Trench Zone data) and the Horseshoe Zone (Figure 1).

Table 1. Assay results – Horseshoe to Trench zone

Notes:

1. 1. *AuEQ (gold equivalent) based on a 75:1 (Ag:Au) ratio.
   2. Calculations are uncut and length-weighted using a 0.15 g/t Au cutoff with less than five continuous metres of internal dilution.
   3. Intervals are downhole core lengths. True widths are unknown.

BK20-012 collared in sphalerite + pyrite + quartz + carbonate cemented dacite clast-bearing breccias with near-consistent Au + Ag mineralization and intersected 19.5 metres of 1.66 g/t AuEQ from near the top of the hole. The hole transitioned into bedded-ash to crystal tuffs cut by quartz-feldspar porphyritic dikes.  Peripheral to the dikes and associated with broad zones of pervasive sericite + quartz alteration with disseminated and stringer-controlled pyrite + sphalerite are local zones of high-grade Au mineralization (e.g., 17 metres of 5.86 g/t Au and 7.5 metres of 10.19 g/t Au). The hole ended in 12.7 metres of 1.05 g/t AuEQ hosted in similar sericite + quartz altered lapilli tuffs below a quartz + feldspar porphyritic dike. Additional drilling is clearly warranted to investigate the nature of the structural and/or lithological controls to the high-grade Au mineralization and to further test the near-surface and depth potential for bulk-tonnage Au + Ag mineralization. Assays from BK20-012 are reported in Table 1.

Figure 2. Cross-section from the Trench to Horseshoe zones showing selected highlights

Horseshoe Zone

Six holes targeted the extent and potential structural and/or lithological controls on disseminated Au + Ag mineralization in the Horseshoe Zone previously investigated in Phase 1 of the program (BK20-001 and BK20-002; see SMN news release dated May 12th, 2020).

Holes BK20-006, BK20-007, and BK20-009 intersected zones of near-surface, sulfide-cemented breccias similar to the top of BK20-012 (e.g., BK20-006, 46 metres of 1.12 g/t AuEQ). These north-west trending breccia bodies are spatially related to the margins of much larger magmatic-hydrothermal polymictic breccias with clast compositions varying from dacite to andesite. Breccia matrix is predominantly composed of quartz + feldspar porphyritic dacite and hydrothermal cement varies from carbonate-dominant to sulfide + quartz + carbonate dominant. All phases of breccias contain Au + Ag mineralization associated with clotted and disseminated sphalerite and pyrite (e.g., BK20-009, 111 metres of 0.52 g/t AuEQ). At depth, all holes intersected thick intervals of dacitic crystal to lapilli tuffs and local intercalations of andesite flows. Hole BK20-010 ended in pervasive sericite altered lapilli tuff with local intrusive clasts with significant Au + Ag mineralization near the bottom of the hole (e.g., 8.1 metres of 1.25 g/t AuEQ and 5.6 metres of 1.95 g/tAuEQ). Mineralization is open in most directions and further drilling is warranted to test the extent of near-surface bulk-tonnage mineralization. Assays from the Horseshoe Zone are reported in Table 2.

Table 2. Assay results – Horseshoe Zone

Notes:

1. 1. *AuEQ (gold equivalent) based on a 75:1 (Ag:Au) ratio.
   2. Calculations are uncut and length-weighted using a 0.15 g/t Au cutoff with less than five continuous metres of internal dilution.
   3. Intervals are downhole core lengths. True widths are unknown.

Buck North Zone

Three holes targeted the lateral extent of disseminated Au + Ag mineralization north of Bob Creek in the Buck North Zone (Figure 1).

Table 3. Assay results – Buck North Zone

Notes:

1. 1. *AuEQ (gold equivalent) based on a 75:1 (Ag:Au) ratio.
   2. Calculations are uncut and length-weighted using a 0.15 g/t Au cutoff with less than five continuous metres of internal dilution.
   3. Intervals are downhole core lengths. True widths are unknown.

Holes BK20-014 and BK20-016, spaced 300 metres apart cut long intervals of disseminated Au + Ag mineralization associated with clotted pyrite + sphalerite hosted in well-sorted dacitic crystal to lapilli tuffs. The tuffs are underlain by andesite flows and andesitic tuffs that host local higher-grade vein-controlled Au + Ag mineralization (e.g., BK20-014, 8 metres of 1.51 g/t AuEQ including 1.4 metres of 7.33 g/t AuEQ). Based on the orientation of these higher-grade veins relative to core-axis additional shallowly dipping drill holes are clearly warranted to test for the presence of near-vertical, parallel vein-arrays. Assays from the Buck North Zone are reported in Table 3.

Drill Program to Resume in late January

Sun Summit will mobilize drill crews back to the Buck Property in late January to resume the exploration drill program. The Company is currently compiling all the down-hole lithogeochemical data together with the lithology, alteration, and structural data captured during core logging to refine the geological and exploration model for the property. This geological compilation is also being integrated with the 3D induced polarization (IP) chargeability model (see SMN’s news release dated November 5^th, 2020) to refine new drill targets. Additional information regarding this next phase of drilling will be released once all interpretation is complete and drill holes are planned.

Table 4. Drill hole collar information

* NAD83 / UTM Zone 9N

Quality Assurance and Quality Control

All sample assay results have been monitored through a quality assurance / quality control (QA/QC) program. Drill core was sawn in half at Sun Summit’s core logging and processing facility in Houston, BC. Half the core was sampled and shipped in sealed and secure bags to the ALS Global preparation facilities in Terrace, B.C., and Yellowknife, N.T. 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. 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). Over limit gold (>10 ppm) was re-analyzed by fire assay using a gravimetric finish on a 30 gram sample. Over limit silver (>100 ppm) was re-analyzed using a four acid digestion and ICP-AES finish. Over limit zinc (> 10,000 ppm) was re-analysed using a four acid digestion and ICP-AES finish. ALS Global is registered to ISO / IEC 17025:2017 accreditations for laboratory procedures.

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.

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.

Some data disclosed in this news release (e.g., Figure 2) relating to sampling and drilling results is historical in nature. Neither the Company nor a qualified person has sufficiently verified this data and therefore investors should not place undue reliance on such data.

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 Corp. (formerly San Marco Resources Inc.) is a Canadian mineral exploration company actively pursuing world class gold and silver projects with a focus in mining friendly jurisdictions.

The Company’s principal focus is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property is located in a mining-friendly region that includes many former and current operating mines.

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:
http://sunsummitminerals.com/wp-content/uploads/2021/01/Buck_Fig1_Drilling_Jan6_NR-scaled.jpg

Figure 2:
http://sunsummitminerals.com/wp-content/uploads/2021/01/Buck_Fig2_Section_Jan6_NR-scaled.jpg

For further information, contact:

Sharyn Alexander, M.Sc.
VP Technical Services

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 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.

View PDF Version

Vancouver, B.C. November 5, 2020: Sun Summit Minerals Corp. (TSX-V: SMN) (“Sun Summit” or the “Company”) announces the completion of 10 diamond drill holes at its 100% controlled Buck gold and silver property in north-central British Columbia.

Highlights

• Completion of 10 HQ diamond drill holes totalling 4,200 metres. All samples are in the lab and assays are pending.
• All holes tested the lateral and vertical extent of epithermal-related gold and silver mineralization associated with the Horseshoe Zone.
• Continuous zones of disseminated, vein-hosted, and breccia-hosted sulfide mineralization were observed in all drill holes.
• A 2 by 2.5 kilometre 3D Induced Polarization (IP) survey was completed over the known extent of the breccia complex as well as over areas considered prospective for mineralization below overburden.

Bob Willis, Sun Summit’s CEO, stated; “It is very encouraging to see the style and extent of mineralization identified in our drilling. We have tested only a small fraction of this breccia system and look forward to analyzing the results as soon as the assays are received and interpreted. The fact that we can drill year round gives our shareholders exposure to continued news flow throughout the winter.”

Drilling

Phase 2 drilling is focussed on testing the lateral and vertical extent of epithermal-related gold and silver mineralization associated with the Buck breccia complex (see SMN news release dated August 6, 2020). Current drill collars cover a footprint of approximately 550 by 250 metres and holes were drilled to a maximum depth of 500 metres (see Figure 1). New geological observations have been used to characterize multiple breccia-hosted mineralization styles comprised of sulfide cemented magmatic-hydrothermal breccias, mineralized clast-bearing volcanic breccias and hydrothermal breccias with cross cutting sulfide-bearing veins. Pervasive and selectively pervasive hydrothermal alteration comprised of silica + sericite ± carbonate ± clay is widespread and associated with locally strong sulfide mineralization. Most holes cut long intervals of varying proportions of disseminated, clotted and vein-hosted sphalerite, pyrite, marcasite ± chalcopyrite and galena. Based on results from Phase 1 drilling (see SMN news release dated May 12, 2020), these alteration and sulfide mineral assemblages are considered prospective for associated gold and silver mineralization.

Figure 1. Current Phase 2 Drill Hole Locations

Induced Polarization Survey

The recently completed 3D IP survey has outlined new areas of strong chargeability response both laterally from and below the current drilling footprint. These new data together with the recently released soil geochemistry (see SMN news release dated September 28, 2020) suggests that additional targeting is warranted north of the Horseshoe Zone in the untested Bob North Zone. New coincident geophysical features (e.g., chargeability and resistivity) at >300 metres depth suggests that additional deeper drilling is also warranted to investigate the potential buried heat source related to widespread, near-surface mineralization.

Exploration Model

The Company is now awaiting assays from the recently completed 10 drill holes. These data will be compiled and modelled together with the new 3D IP geophysical data, ground magnetic geophysical data, soil geochemical data and surface and subsurface lithological and hydrothermal alteration data to build and refine a comprehensive exploration model. This new model will be used to guide additional drill hole targeting.

Metals Investment Forum

Sun Summit will be participating in the Virtual Metals Investment Forum (MIF) on Thursday, November 5, 2020. Hosted by newsletter writers, the forum showcases each writer’s Top Pick investment opportunities in exploration and mining.

To register for the upcoming virtual MIF conference, please visit the event’s website:

www.metalsinvestorforum.com

Global Mining Symposium

Sun Summit will be participating in the Global Mining Symposium on Thursday, November 12, 2020. The virtual mining and investment conference, presented by The Northern Miner, attracts experts from mining, exploration, and finance.

To register for the upcoming virtual Global Mining Symposium, please visit the event’s website:

https://www.northernminer.com/gms/register/

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 Corp. (formerly San Marco Resources Inc.) is a Canadian mineral exploration company actively pursuing world class gold and silver projects with a focus in mining friendly jurisdictions.

The Company’s principal focus is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property is located in a mining-friendly region that includes many former and current operating mines.

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 Figure

Figure 1:

http://sunsummitminerals.com/wp-content/uploads/2020/11/Buck_Fig1_Drilling_Nov5_NR.pdf

For further information, contact:

Sharyn Alexander, M.Sc.
VP Technical Services

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

Tel. 778-588-9606

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.

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 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.

View PDF Version

Vancouver, B.C. October 29, 2020: San Marco Resources Inc. (TSX-V: SMN) (“San Marco” or the “Company”) announces that, effective Monday, November 2, 2020, its name will change to “Sun Summit Minerals Corp.”.

CEO Bob Willis stated, “We are excited to make this change to highlight our new focus on our flagship Buck property in central B.C. and other opportunities which our group identifies. The name denotes “new heights” and we hope to achieve this by re-examining the Buck project with a new outlook, new takes on research, and using new technology. We have assembled a top notch team of professionals to ensure we achieve our goals at Buck.”

The new CUSIP number and ISIN for its common shares will be 86687V100 and CA86687V1004, respectively. Its trading symbol will remain “SMN” and there will be no consolidation or other change to its share capital.

The name change will be accompanied by a new logo and website, which will be visible in the coming weeks online and on and other corporate material.

Drilling is currently ongoing at the Buck property (see news release from September 8, 2020), and an exploration update will be released shortly.

Metals Investment Forum

San Marco Resources / Sun Summit Minerals will be participating in the Virtual Metals Investment Forum (MIF) on Thursday, November 5, 2020. Hosted by newsletter writers, the forum showcases each writer’s Top Pick investment opportunities in exploration and mining.

To register for the upcoming virtual MIF conference, please visit the event’s website:

www.metalsinvestorforum.com

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc, and copper projects with a focus in mining friendly jurisdictions in both British Columbia and Mexico.

The Company’s principal focus is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property is located in a mining-friendly region that includes many former and current operating mines. The Company’s portfolio also includes several prospective, early stage exploration properties in Mexico.

San Marco 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, M.Sc.
VP Technical Services

Nancy Curry
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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Vancouver, B.C. September 28, 2020: San Marco Resources Inc. (TSX-V: SMN) (“San Marco” or the “Company”) announces results from its summer exploration program and commencement of an induced polarization (IP) geophysical survey at its 100% controlled Buck gold and silver property in central British Columbia, Canada.

The 22,000 hectare Buck property is located approximately 12 kilometres (km) south of Houston, British Columbia, via an all-weather access road. It has excellent nearby infrastructure and allows for year round exploration. Phase 2 drilling is currently underway on the Buck property (see SMN news release dated September 8^th, 2020).

Highlights

• A 700 by 300 metre (m) multi-element soil anomaly, open to the north, was defined at Buck North centered one kilometre north of historic drilling.
• Grab samples returned assays of up to 13.3 grams per tonne (g/t) Au and 44.1 g/t Ag from the Trench zone, and 11.1 g/t Au with 5.9 g/t Ag from the Horseshoe zone, confirming the presence of higher grade epithermal-related mineralization throughout the Buck property.
• A 20 line-km IP geophysical survey has commenced.
• Five HQ diamond drill holes are now complete.

Rock Geochemistry

A program of geological mapping and rock sampling was completed in preparation for drilling. A total of 104 grab samples were collected from throughout the Buck property (Figure 1). Sampling was focused primarily on the Buck breccia complex and the Buck structural corridor (see SMN news release dated August 6^th, 2020).

Table 1. Selected Grab Samples

Figure 1. 2020 Grab Sampling

Systematic sampling of mineralized, northwest-striking structures along Bob creek, which forms the core of the Horseshoe zone, suggest that low-angle shear-zones carry higher-grade mineralization (sample A0603848; Table 1) and that structural intersections with high-angle structures are also favorable hosts for gold mineralization. The orientations of these structures and intersections helped inform the orientations of some of the current Phase 2 diamond drill holes (see SMN news release dated September 8^th, 2020).

The Trench zone comprises an area of historic trenching covering a footprint of approximately 200 by 220 m where local near-continuous Au mineralization has been reported from chip sampling and local historic drilling (see SMN news release dated June 23^rd, 2020). The zone is underlain primarily by quartz-plagioclase porphyritic dacite and polymictic breccia that hosts clotted and vein-controlled pyrite-sphalerite mineralization. Sampling of the trenches have returned many >1 g/t Au samples which confirm historic data and also suggests a strong structural control. Additional structural mapping focused on the higher-grade areas (sample A0603833; Table 1) in the Trench zone is warranted in order to refine drill targets.

The Bob zone is 1.5 km west of the Horseshoe zone and consists of near-vertical, northwest striking quartz-pyrite-arsenopyrite-sphalerite shear-hosted veins and vein-breccias that crosscut andesitic lapilli tuff which have been exposed in historic adits and workings. These veins and vein breccias (2 to 50 cm) have returned assays of up to 633 g/t Ag (sample R266334; Table 1). The extent of these veins is not presently known and the area warrants detailed follow-up.

Grab samples are used to provide evidence of mineralization, however, grab samples are selective in nature and the resulting assays from the samples may not be representative of all mineralization on the property.

Soil Geochemistry

A recently completed 26 line-km soil grid consisted of 679 samples collected from 24 north-south lines spaced 25 to 100 m apart with samples spaced 25 to 50 m along the lines. The center of the grid is located one km northwest of the Horseshoe zone and one km north of the Trench zone where the bulk of historic drilling has taken place (Figure 2). Within the northern grid, a 700 by 300 m multi-element soil anomaly (Zn, Ag, As, and Pb) has been identified. This anomaly is open to the north. The east-west trending, multi-element anomaly along Bob Creek (Figure 2) is interpreted to have been transported and therefore limited significance is placed on the anomaly.

Figure 2. 2020 Soil Sampling

Geophysical Survey

A 20 line-km IP geophysical survey has now commenced. This north-south oriented survey consists of nine lines spaced 200 m apart (Figure 2). The survey footprint covers the Buck breccia complex as well as the recently defined soil-anomaly at the Buck North zone. This survey will have a significantly deeper depth of investigation compared to historical 1980’s-vintage surveys and the data will be used to refine the current exploration model.

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. San Marco has a rigorous infection prevention and control protocol in place to protect the health of employees, contractors, as well as surrounding communities in which we work.

Quality Assurance

All sample assay results have been monitored through a quality assurance / quality control (QA/QC) program. Samples were shipped in sealed and secure bags to the ALS Global laboratory in North Vancouver, B.C. for analysis. Samples were prepared using standard preparation procedures. Soil samples were analyzed for 53 elements by ICP-MS on a 25 gram sample using an aqua regia digestion (method AuME-ST43). 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 with an AAS finish (method Au-AA23). Over limit gold (>10 ppm) was re-analyzed by fire assay using a gravimetric finish. Over limit silver (>100 ppm) was re-analyzed using a four acid digestion and ICP-AES finish. Over limit zinc (> 10,000 ppm) was re-analysed using a four acid digestions and ICP-AES finish. ALS Global is registered to ISO / IEC 17025:2017 accreditations for laboratory procedures.

Links to Figures

Figure 1:
http://sunsummitminerals.com/wp-content/uploads/2020/09/Buck_Fig1_Grabs_Sept29_NR.pdf

Figure 2:
http://sunsummitminerals.com/wp-content/uploads/2020/09/Buck_Fig2_Soils_IP_Sept29_NR.pdf

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc, and copper projects with a focus in mining friendly jurisdictions in both British Columbia and Mexico.

The Company’s principal focus is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property is located in a mining-friendly region that includes many former and current operating mines. The Company’s portfolio also includes several prospective, early stage exploration properties in Mexico.

San Marco 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 sunsummitminerals.com

For further information, contact:

Sharyn Alexander, M.Sc.
VP Technical Services

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

Tel. 778-588-9606

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’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.

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, San Marco Resources Inc. (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.

View PDF Version

Vancouver, B.C. September 8, 2020: San Marco Resources Inc. (TSX-V: SMN) (“San Marco” or the “Company”) is pleased to announce the commencement of diamond drilling at its 100% controlled Buck gold and silver property. The aggressive fully-funded drill program is expected to continue well into next year, with an initial 5,000 metres planned over the next few months. The current Phase 2 drill program compliments and builds on Phase 1 success and is designed to test the lateral and vertical extent of epithermal-related mineralization within the Buck structural corridor.

The Buck property is located about 12 km south of Houston, British Columbia, and is accessible via an all-weather access road. It has excellent nearby infrastructure, and allows for year round exploration. The 100% optioned property was recently expanded through the acquisition of additional ground, and now totals 22,000 hectares (see news release from August 10, 2020).

Bob Willis, San Marco’s CEO, commented “We are very excited to begin our second phase of drilling at Buck. Our recent completion of an extensive field program has given us a much better understanding on the controls of Buck-style mineralization and gives us confidence that we’re on the right track for additional discoveries.”

A comprehensive geological data compilation and structural interpretation has resulted in the definition of a significant mineralized breccia complex. The breccia complex is comprised of intrusive breccias, magmatic-hydrothermal breccias, hydrothermal breccias, pebble-dikes and a thick, intermediate to felsic volcaniclastic pile. This breccia system is transected by a property-scale WNW-trending structural zone, named the Buck structural corridor, which is thought to be a first-order control on mineralization throughout the property. Phase 2 drilling will target both structurally controlled high-grade epithermal-related Au-Ag, as well as bulk-tonnage epithermal-related Au-Ag. More information about the recent field program is described in San Marco’s August 6, 2020 news release.

Results from the drill program will be released as they are received and compiled.

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. San Marco has a rigorous infection prevention and control protocol in place to protect the health of employees, contractors, as well as surrounding communities in which we work.

Red Cloud

San Marco is also pleased to announce that it has retained Red Cloud Financial Services Inc. to provide an extensive array of corporate access services including marketing, media, and online. The agreement between Red Cloud and the Company is for a minimum of six months and the Company has agreed to pay Red Cloud $10,000 per month during the term. Such payments will be made from San Marco’s general working capital. After the initial six month period, the engagement may be terminated by either party with one month written notice.

About Red Cloud

Red Cloud Financial Services Inc. is a full service mining finance firm that provides a comprehensive suite of services focused on enhancing its client’s capital market brand and improving their access to capital.

The Red Cloud team has a mix of technical and financial expertise with over 300 cumulative years of combined mining and corporate finance experience. Working as an extension of management, the Red Cloud team uses its global network of mining and capital markets professionals and extensive in-house experience in the many facets of the mining business to help companies identify sources of capital and quality actionable merger, acquisition and divestiture opportunities, and to generate and maintain important relationships with key investors.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc, and copper projects with a focus in mining friendly jurisdictions in both British Columbia and Mexico.

The Company’s principal focus is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property located in a mining-friendly region that includes many former and current operating mines. The Company’s portfolio also includes several prospective, early stage exploration properties in Mexico.

San Marco 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 sunsummitminerals.com

For further information, contact:

Sharyn Alexander, M.Sc.
VP Technical Services

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

Tel. 778-588-9606

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’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.

Forward Looking Information

Statements contained in this presentation that are not historical facts are 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 regulation, San Marco Resources Inc. (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.

View PDF Version

Vancouver, B.C. – August 10, 2020: San Marco Resources Inc. (TSX-V: SMN) is pleased to announce that it has expanded its tenure holdings at its 100% optioned gold-silver-zinc Buck property in north-central B.C.

Highlights of the tenure acquisition include:

• The addition of five new mineral claims totalling 7,245 hectares.
• The Company’s land position in the area has increased by 33%, for a total of 22,204 hectares.
• The new ground includes mapped mineralization by previous explorers, and thus will be followed up by the Company’s geologists.
• The new claims will become subject to the Company’s property option agreement with Richard Billingsley and his wife, Gaye Richards, which in 2019 granted the Company the option to acquire the Buck property.

The strategic mineral tenure staking at the Buck property can be seen in Figure 1.

San Marco’s CEO, Bob Willis, commented “We are pleased to acquire additional ground at Buck. This expanded land position, contiguous to our current land holdings, will allow us to explore additional targets in the area. The mineralized surface footprint at Buck continues to expand, as such our new ground allows for continued definition of exploration targets within land we control”.

San Marco wishes to correct a statement in the Company’s news release dated August 6, 2020. In the first paragraph, it should read “The property is 170 km northwest of Artemis Gold Inc.’s Blackwater Gold Project (9.5 million ounces of Au, Measured and Indicated Mineral Resource; see Artemis Gold Inc.’s June 9th, 2020, news release – such resources are not indicative of  resources on the Buck property).” The Company inadvertently wrote “such resources are not indicative of the mineralization on the Buck property”. San Marco is seeing many Buck /Blackwater geological similarities.

The Company recently provided an exploration update at its Buck property (see news release dated August 6, 2020). Phase 2 drilling is expected to begin by late August.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc, and copper projects with a focus in mining friendly jurisdictions in both British Columbia and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region and includes many former and current operating mines. The Company’s portfolio also includes several prospective, early stage exploration properties in Mexico.

San Marco 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 sunsummitminerals.com

Link to Figure:

http://sunsummitminerals.com/wp-content/uploads/2020/08/Buck_TenureAcquisition_Aug10_NR_final.pdf

For further information, contact:

Sharyn Alexander, M.Sc.
VP Technical Services

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

Tel. 778-588-9606

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’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.

Forward Looking Information

Statements contained in this presentation that are not historical facts are 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 regulation, San Marco Resources Inc. (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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