Sun Summit Commences Inaugural Drill Program Targeting High-grade Gold Mineralization at the JD Project

Vancouver, July 30, 2024 - Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) is pleased to announce the commencement of its inaugural exploration campaign at the JD Project, north-central British Columbia. The JD Project, located in the prolific Toodoggone gold-copper mining district, spans 15,000 hectares and hosts numerous under-explored, epithermal-related gold-silver and porphyry-related copper-gold targets.

Highlights:

• Inaugural drill program has started: Up to 3,000 metres of drilling, targeting near-surface, high-grade, epithermal-related gold-silver mineralization within the Finn to Creek Corridor has commenced.

• Targeting high-grade gold mineralization: The first five planned drill holes at Creek will target extensions of high-grade gold mineralization where limited drilling in 1997 and 1998 returned intercepts such as 22.0 metres* of 11.7 g/t Au including 4.0 metres of 61.2 g/t Au from drill hole CZ97-008 (February 12, 2024 news release).

• Comprehensive exploration program is ramping up: In addition to drilling, other complementary exploration activities include:

  • A 20-line kilometre Induced Polarization (IP) geophysical survey has been completed across the Creek Zone and potential deeper targets to the northeast. Data review has commenced

  • A grid-based, 2,000 sample soil geochemical survey, designed to investigate the footprints of multiple target areas is nearing completion

  • Detailed structural and geological mapping focused on the Finn to Creek Corridor is ongoing

  • A project-wide LiDAR survey has been completed and data review has commenced

"We are very pleased to see the drill turning at the JD Project" stated Sharyn Alexander, Sun Summit's President. "Hard work over the last several months has led to this first exciting milestone in our exploration program. We have designed our summer program to investigate the gold potential of several high-priority targets through drilling as well as complementary project-wide geophysical, geological and geochemical surveys. Results from all activities will set the foundation for continued exploration across multiple target areas. We look forward to keeping the market informed on our exploration progress this summer."

Figure 1: JD Project 2024 Exploration Program

Drill Commencement and Program Update

The summer 2024 drill program first aims to explore potential extensions of sulphide-rich, structurally controlled, high-grade gold mineralization intersected in historical drilling at the Creek Zone. Limited drilling in 1997 and 1998 at Creek returned intervals such as 22.0 metres* of 11.7 g/t Au including 4.0 metres of 61.2 g/t Au from drill hole CZ97-008 (see February 12, 2024, news release). The first five planned drill holes comprise step-outs from areas of known mineralization.

The multidisciplinary program will also target gold mineralization across the 4.5-kilometre Finn to Creek Corridor and the Belle target areas (Figure 1). Exploration activities recently completed and still underway include:

• IP Geophysical Survey: A 20-line kilometre IP survey has been completed over the Creek zone as well and potential proximal yet deeper targets to the northeast, where outcrop exposure is sparce. Data review and interpretation is currently underway.

• Soil Geochemical Survey: Up to 2,000 soil samples will be collected across the Creek and Belle zones. At Creek, sampling is designed to infill gaps in previous geochemical surveys in 2013 as well as to confirm results of historic surveys from the 1980s. At Belle, centered 2.7 km south of the Finn Zone, grid-based soil sampling is designed to investigate the geochemical footprints of epithermal-related gold mineralization identified in historic trenching.

• Structural and Geological Mapping: Detailed mapping, focused on the Finn to Creek Corridor, is ongoing and designed to refine the geological model as well as identify significant structural features, particularly at the Creek Zone where the orientation of gold-bearing structures is not well understood.

• LiDAR and Aerial Photography: A property-wide LiDAR and aerial photography survey with sub-metre accuracy has been completed. This survey will provide detailed terrain models essential for accurate geological interpretation and project planning. Data review has commenced.

Results from all initial exploration activities will be used to rank and prioritise the next set of drill holes in the Finn to Creek Corridor.

* Note intervals are downhole core lengths. True widths are unknown.

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 (TSXV: 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.

Link to Figures

Figure 1:
https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2024/07/Fig-1-JD-2024-Exploration-July-NR.jpg

On behalf of the board of directors

Brian Lock

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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