Sun Summit Provides Exploration Update from the Buck Project; Focused on Drill Target Definition in Two High-Priority Areas

Vancouver, August 31, 2022 - Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) is pleased to provide a further update on its ongoing exploration activities at the 33,000 hectare Buck Project, central British Columbia, where the Company has an option to acquire a 100% interest.

Highlights

• Ongoing exploration: Geochemical sampling (rocks, silts, and soils) and geological mapping at the highly prospective IRK and Eagle Eye targets is ongoing.

• Real-time data collection: A portable X-Ray fluorescence spectrometer (pXRF) is being used in the field to measure pathfinder elemental concentrations in soil samples. This method allows for the immediate initiation of grid expansions and/or infill samples, if required. Select samples will also be sent to the lab for geochemical analysis.

• Upcoming IP survey: An induced polarization (IP) geophysical survey is currently being planned to cover the IRK target. The survey is anticipated to commence shortly to investigate the lateral and vertical extent of potential zones of strong sulfide-related mineralization.

• Drilling to commence shortly: Final drill planning at Buck Main is ongoing and drilling is set to commence this September. The program is anticipated to comprise step-out holes peripheral to areas of strong gold-silver-zinc mineralization as well as exploratory holes in newly defined target areas.

• Identification of additional drill targets: Current exploration efforts across the IRK and Eagle Eye prospects may generate immediate drill targets.

Sharyn Alexander, Sun Summit's President, stated, "We are very encouraged with what we're seeing in the field at IRK and Eagle Eye and look forward to the continuation of these programs. The reanalysis of multiple existing and historic datasets have allowed us to better understand the geometry of the broad anomalies in these areas where there is very little outcrop, and moves us towards potential delineation of drill targets. In addition, the use of the pXRF instrument allows for important real-time data collection to optimize the efficiency of this field work by delineating geochemical anomalies and adjusting survey grid extensions.

"Drilling will begin at the Buck Main zone in September and will include step-out holes along strike from known mineralization, with a focus on near-surface mineralization. I look forward to keeping the market updated on exploration progress, including timing and scope of drill testing priority targets."

Ongoing Exploration Program

Current geological mapping and soil surveys are focused at the IRK and Eagle Eye targets.

The program at the IRK target, located about 11 km south of Buck Main, has three primary aims:

• Define the spatial extent of previously documented strong alteration with anomalous geochemistry in rock samples comprised of bleached andesite, dacite and rhyolite (Gale, 1984).
• Investigate and expand numerous historic and overlooked broad zinc (+/- silver, gold, arsenic, antimony, and lead-in-soil anomalies (Figure 1).
• Ground-truth high-priority and untested Versatile Time Domain Electromagnetic (VTEM) resistivity-high and conductive-high anomalies (see news release dated August 11, 2022).

Historic reports and more recent geological mapping at IRK suggest that sulfide-related mineralization is associated with zones strong silicification (Gale, 1984). Because the target areas are predominantly covered by post-mineralization till and soils, the extent of the prospective hydrothermal system is unknown.

Eagle Eye, located near the center of the property, has seen very limited historic exploration compared to IRK. However, a historic reconnaissance-style IP survey outlined a large and untested strong chargeability-high anomaly (Lloyd, 2004) spatially coincident with a recently defined high-resistivity anomaly from the VTEM survey. The exploration program at Eagle Eye aims to investigate the geophysical anomalies through targeted geochemical surveys and geological mapping.

Samples from IRK and Eagle Eye are being analysed for their geochemical compositions the field with a pXRF instrument, which allows for near-real time results that can be acted on immediately to inform potential grid expansion or infill sampling. Comparing pXRF results to standard laboratory analytical data from the same samples provides confidence that this method is a cost effective and timely solution to soil geochemical analysis. Select samples will also be sent to the lab for low-detection geochemical analysis to maintain a strong workflow of data quality analyses.

The completion of the geochemical surveys will provide critical insight into the prospectivity of the underlying bedrock and help inform potential follow-up geophysical surveys and drilling.

Geophysical Survey

An IP geophysical survey is being planned at IRK to investigate the lateral and vertical extent of potential zones of strong mineralization (e.g., generate strong chargeability highs). Data from ongoing geological mapping and expanded soil geochemical grids covering newly identified broad high-resistivity zones (see news release dated August 11, 2022) will be used to inform the extent, orientations and spacing of the IP survey lines. The survey will commence shortly once all geochemical data have been interpreted.

Drill Targeting

Drilling at the Buck Main target will commence in September and will have a strong focus on expanding near-surface zones of strong gold-silver-zinc mineralization at Buck Main. Recently completed geological modelling has defined drill target areas for expansion of known mineralization. All zones at Buck Main are open in all directions, both laterally and vertically. Additional targets peripheral to Buck Main will also be tested through step-out drilling.

Figure 1. Buck Project 2022 Sample Locations

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/135449_def0d8f3e491f8ae_001full.jpg

National Instrument 43-101 Disclosure

This news release has been approved by Sun Summit's Senior Advisor, 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.

Some data disclosed in this news release (e.g., Figure 1) 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. Mineralization hosted on adjacent, nearby, or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's property.

Reference

Gale, R.E., 1984, Report on geochemical and geological exploration program with backhoe trenching, IRK claims, Assessment Report 12753, Assessment Report Indexing System, aris.empr.gov.bc.ca, 13 p.

Lloyd, J., 2004, A geophysical report on an induced polarization survey on the Buck Property, Omineca Mining Division, near Houston, British Columbia, Assessment Report 27458, Assessment Report Indexing System, aris.empr.gov.bc.ca, 45 p.

Community Engagement

Sun Summit is engaging with First Nations on whose territory the Buck Project 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.

About Sun Summit

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

The Company is exploring multiple high priority targets through systematic exploration campaigns. The project benefits from 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 accountable development to generate positive outcomes for all stakeholders.

Further details are available at www.sunsummitminerals.com.

Link to Figure

Figure 1:
https://sunsummitminerals.com/wp-content/uploads/2022/08/Fig1_Buck_Sampling_Aug_NR.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; 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. 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.

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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