Sun Summit Identifies Multiple Zones of High-Grade Gold and Silver Mineralization in Historical Trenching at the JD Project in B.C.

May 28, 2024

Vancouver, B.C. May 28, 2024: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) is pleased to announce that a review of historical trench data has confirmed a significant gold-silver mineralized trend along the highly-prospective Finn to Creek corridor on the road accessible JD Project in the Toodoggone gold-copper mining district in north-central British Columbia.

Highlights:

• Historical trenching results further demonstrate the presence of near-surface, high-grade gold and silver mineralization: An ongoing review and compilation of historical trenching data across the Finn to Creek trend has further supported the potential for significant near-surface mineralization.
• Continuous zones of near-surface, high-grade gold and silver mineralization: Historical trenches were designed to test strong soil anomalies and many were reportedly mineralized along the entire length of the excavation. Selected interval highlights¹ include:
  • Finn Zone:
    • 45.5 metres at 6.1 g/t Au including 5.5 metres at 36.4 g/t Au (trench 88-78)
    • 10.0 metres at 12.0 g/t Au including 6.0 metres at 19.4 g/t Au (trench 88-70)
    • 31.4 metres at 3.7 g/t Au including 5.0 metres at 12.0 g/t Au (trench 88-76)
    • 106 metres at 2.2 g/t Au including 17.0 metres at 8.0 g/t Au (trench 88-67)
    • 24.9 metres at 4.5 g/t Au including 3.0 metres at 15.98 g/t Au (trench 83-01)
  • JD West Zone:
    • 5.0 metres at 5.6 g/t Au with 296 g/t Ag (trench 88-33)
    • 3.0 metres at 3.2 g/t Au with 631 g/t Ag (trench 88-35)
• Complex epithermal environment indicates high potential for prospectivity: Vein-hosted and breccia-hosted, high-grade mineralization has been exposed in numerous trenches with different silver to gold ratios suggesting high-structural complexity, multiple phases of mineralization, and therefore strong prospectivity.
• 2024 exploration program to commence shortly: The approaching field work will include significant drilling across multiple targets, as well as geological and structural mapping, soil and rock geochemical surveys, and geophysical surveys.

¹ Assay results are historical and have been compiled from sources believed to be accurate.

“As we wrap up this phase of data compilation, it is becoming even more apparent that the JD Project has significant potential to host multiple zones of near-surface, high-grade gold and silver mineralization,” stated Sharyn Alexander, Sun Summit’s President. “Trenching programs in the 1980s were focused on evaluating strong soil anomalies, which lead to the discovery of the Finn, MVT and JD West zones. The Finn zone has been drill tested, however, many areas remain open for expansion and more importantly, the JD West and MVT zones have yet to be fully drill tested. These targets, together with the high-grade Wolf, Schmitt and Creek targets, are priority areas for our upcoming field program, which we look forward to commencing in the near term.”

Figure 1. Historical trenching at JD with select highlights

Compiled historical soil geochemical data has been gridded and contoured (see May 2, 2024 news release)
Selected results from historical trenching programs are shown. Data sources are referenced below.

Target Generation

The recent review of historical trenching data at JD builds on the historical drill data, soil and rock geochemical data compiled from the Finn to Creek gold-silver trend (see February 1, 2024, February 12, 2024 and May 2, 2024 news releases), host to numerous epithermal-related vein and breccia systems. Many of these zones of high-grade gold and silver mineralization were discovered over the course of multiple trenching programs in the 1980’s. The true thickness of the trenched zones is unknown and intervals are channel and/or chip sample lengths.

Table 1. Selected interval highlights from historical trenching programs at Finn, JD West and MVT zones

Data sources are referenced below. The true thickness of the trenched zones is unknown and intervals are channel and/or chip sample lengths.

• Finn – Near-surface, epithermal-related gold and silver mineralization at the Finn zone, discovered in historical trenching, is spatially coincident with a broad 770 by 350 metre gold-in-soil anomaly (see May 2, 2024 news release). This coincident surface geochemical anomaly was subsequently drill-tested in the 1990’s, which yielded strong intervals of breccia-hosted gold-silver mineralization (e.g., 35.7 m of 7.3 g/t Au (JD95-047²) and 22.0 m of 12.5 g/t Au (JD95-064²), see February 1, 2024 news release). The structural relationship between this high-grade core of the Finn Zone (e.g., 5.5 m of 36.4 g/t Au in trench 88-78, Figure 1) and the western-extent of surface mineralization (e.g., 12.0 metres of 14.3 g/t Au in trench 83-11, Figure 1), formerly known as the Gumbo and Gasp zones, is not well understood. Follow-up work, focussed on re-assessing structural controls at the Finn zone, is ongoing as new historical information is reviewed and compiled. These areas will be a focus for systematic structural mapping and sampling in the upcoming field program.
• JD West – The JD West target covers the gap between the Finn and Schmitt zones (Figure 1) where the potential strike-extension of the prospective, low-angle fault at the Finn zone is locally exposed in historical trenches and has been drill tested in several, widely-spaced, shallow holes (see February 1, 2024 news release). Historical trenching was initially focused on evaluating a broad silver-gold soil anomaly (see May 2, 2024 news release) and led to the discovery of the north-striking and steeply dipping silver-bearing Ag-Carbonate vein (e.g., 3.0 m of 3.2 g/t Au with 631 g/t Ag in trench 88-35, Figure 1). Based on the high-Ag:Au ratio of these north-striking veins it is interpreted that these systems may represent a different pulse of epithermal-related fluids compared to the gently-dipping, low-Ag:Au ratio Finn-style mineralization. Geological mapping focused on examining structural controls and relationships between different styles of mineralization in the JD West and peripheral areas will be prioritised during the upcoming field program with the goal of defining robust drill targets for follow-up drill testing.
• MVT – Historical trenching and rock-chip sampling across the strong MVT gold-in-soil anomaly (see May 2, 2024 news release) returned multiple zones of local gold mineralization (e.g., 8.0 m of 2.1 g/t Au in trench 88-39). Further work, including geological mapping and potential induced polarization (IP) geophysics, is required at MVT to better define the source and the orientation(s) of potentially concealed mineralized vein(s) responsible for the highly-anomalous soil samples, including the possibility of north-striking veins (e.g., JD West) which may have been missed with north-northeast oriented trenches (Figure 1). The results of upcoming field work could lead to the first drill test of the MVT target.

² Note trench intervals are composite channel and/or chip samples. True widths are unknown.

The targets identified through data compilation will be ranked and prioritised for drill testing in the upcoming 2024 exploration program, set to commence in early summer. Details of the upcoming exploration program will be released once compilation efforts are completed and budgets are finalized.

National Instrument 43-101 Disclosure

This news release has been reviewed and approved by Sun Summit’s Vice President Exploration, Ken MacDonald, P. Geo., a “Qualified Person” as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has not been able to verify the historical exploration data disclosed, including sampling, analytical and test data, underlying the technical information in this news release since such data is historical and the original drill core is not readily available. Technical information contained in this release is historical in nature and has been compiled from public sources believed to be accurate. The technical information has not been verified by Sun Summit and may in some instances be unverifiable dependent on the existence of historical drill core and grab samples.

Community Engagement

Sun Summit is engaging with First Nations on whose territory our projects are 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 with ongoing exploration.

About the JD Project

The JD Project is located in the Toodoggone mining district in north-central British Columbia, a highly prospective deposit-rich mineral trend. The project covers an area of over 15,000 hectares and is in close proximity to active exploration and development projects, such as Thesis Gold’s Lawyers and Ranch projects, TDG Gold’s Baker-Shasta projects, Centerra’s Gold’s Kemess East and Underground projects, as well as the past-producing Kemess open pit copper-gold mine.

The project is 450 kilometres northwest of the city of Prince George, and 25 kilometres north of the Sturdee airstrip. It is proximal to existing infrastructure in place to support the past-producing Kemess mine, including roads and a hydroelectric power line.

The JD Project is in a favourable geological environment characterized by both high-grade epithermal gold and silver mineralization, as well as porphyry-related copper and gold mineralization. Some historical exploration, including drilling, geochemistry and geophysics, has been carried out on the property, however the project area is largely underexplored.

About Sun Summit

Sun Summit Minerals (TSX-V: SMN; OTCQB: SMREF) is a mineral exploration company focused on expansion and discovery of district scale gold and copper assets in British Columbia. The Company’s diverse portfolio includes the JD Project in the Toodoggone region of north-central B.C., and the Buck Project in central B.C.

Further details are available at www.sunsummitminerals.com.

References

Caira, N., and Eccles, L. (1988), Final Report on the 1988 Trenching and Geochemical Surveys, JD Claims Toodoggone River Area British Columbia, Energex Minerals Ltd., Internal Report

Caira, N., and Hutchings, T. (1989), JD Property Trench Logs – 1988 (To Accompany 1988 Assessment Report on the JD Property by Energex Minerals Ltd., Assessment Report Indexing System, Report 18105, https://apps.nrs.gov.bc.ca/pub/aris

Morrice, M.G. (1984), 1983 Final Report on the JD Claims Situated Near Moosehorn Creek in the Omineca Mining Division, Project 04, Kidd Creek Mines Ltd., Internal Report

Sutherland, I.G. (1981), Report on Geological and Geochemical Surveys on the JD-81 and Moose-81 Groups Situated at McClair Creek in the Omineca Mining Divisions, Assessment Report Indexing System, Report 9833, https://apps.nrs.gov.bc.ca/pub/aris

Sutherland, I.G. (1982), Report on Trenching and Examination of Trenches from the JD M.C. (in the JD-81 Group) Situated near Moosehorn Creek in the Omineca Mining Division, Assessment Report Indexing System, Report 10297, https://apps.nrs.gov.bc.ca/pub/aris

Sutherland, I.G. (1982), Report on Trenching and Examination of Trenches from the JD M.C. (in the JD-82 Group) Situated near Moosehorn Creek in the Omineca Mining Division, Assessment Report Indexing System, Report 10739, https://apps.nrs.gov.bc.ca/pub/aris                  

Sutherland, I.G. (1983), 1982 Final Report on the JD Property, Project 04, Kidd Creek Mines Ltd., Internal Report

Link to Figures

Figure 1:
https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2024/05/Fig-1-JD-Trenches.jpg

On behalf of the board of directors

Brian Lock

For further information, contact:

Sharyn Alexander
President
info@sunsummitminerals.com

Matthew Benedetto
Simone Capital
mbenedetto@simonecapital.ca

Tel. 416-817-1226

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. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as “anticipate”, “will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, potential mineralization, exploration plans, and engagement with First Nations communities. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: risks inherent in exploration activities; the impact of exploration competition; 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; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. 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, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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