Sun Summit Identifies New Zone of Copper Mineralization Near CR; Completes Expansion Drill Program at Buck Main

Vancouver, September 19, 2023 - Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) is pleased to announce surface sampling results from the summer 2023 exploration program at its flagship Buck Project in central B.C. The field campaign focused on exploration at several high-priority targets at the Mount Morice and CR areas and resulted in the discovery of a new zone of copper mineralization.

Highlights:

• Strong copper mineralization: Rock samples returned results up to 1.00% Cu and 3.2 g/t Ag, and 0.94% Cu and 4.1 g/t Ag in a new zone that has seen limited exploration. Target areas show strong porphyry-related mineralization and alteration and remain open for expansion.

• Exploration aimed at discovery: Reconnaissance field work included detailed mapping, sampling, and prospecting around the Mount Morice and CR target areas.

• Completion of step-out drill program at Buck Main: The drill campaign consisted of 3,736 metres over 13 diamond drill holes in high-priority areas aimed at testing the lateral and vertical extents of mineralization (see June 8, 2023, news release). Assays have been released for the first two holes of the program, and remaining assays are being processed at the lab and will be released as they are received and interpreted.

Sharyn Alexander, Sun Summit's President stated: "We are very pleased with the results from our initial exploration efforts at CR, as well as follow-up exploration at Mount Morice. Both of these targets have shown notable mineralized occurrences through previous exploration and warrant detailed systematic follow-up. The detailed geological mapping and geochemical sampling will allow us to continue to define these targets and advance them towards the drill-ready stage. The results provide evidence of the project's ongoing potential for expansion and discovery of new mineralized zones."

Exploration Program

Extensive surface exploration was conducted in the area of Mount Morice and the newly acquired CR project (see June 1, 2023 news release). This work included detailed geological mapping, sampling, and prospecting, with a total of 230 surface samples collected in high-priority areas (203 rock samples, 17 silt samples, and 10 soil samples). See Figure 1 for selected highlights from recent and historic exploration programs.

Figure 1. Surface samples at Mount Morice and CR with selected highlights

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/181059_9bd811fe64399bfc_001full.jpg

Rock sample highlights from the 2023 program include:

• Sample J031024: 1.00% Cu & 3.2 g/t Ag, rhyolite/andesite breccia with strong silicification and copper oxide alteration
• Sample J030700: 0.94% Cu & 4.1 g/t Ag, similar to sample J031024, strongly Cu-oxidized rhyolite
• Sample J030681: 0.64% Cu & 8.1 g/t Ag, drusy quartz veins with disseminated chalcopyrite and strong copper oxides in epidote altered rhyolite
• Sample J030756: 0.39% Cu & 2.1 g/t Ag & 81 g/t Mo, hydrothermal breccia with disseminated pyrite ± chalcopyrite-molybdenite and moderate Cu oxides

Other significant copper results from the 2023 program include:

• Sample J030746: 0.36% Cu
• Sample J030667: 0.30% Cu
• Sample J030755: 0.19% Cu
• Sample J030713: 0.19% Cu
• Sample J030718: 0.18% Cu
• Sample J030719: 0.17% Cu

The Mount Morice target is one of a number of high-priority targets selected for follow-up. This key area is located approximately eight kilometres west of Buck Main on the eastern slopes of Morice Mountain.

Field work at Mount Morice included geological mapping, prospecting, and infill silt sampling. Stream sediment samples from eastern drainages on Mount Morice, downslope from the mapped alteration and vein zones, display highly anomalous gold and silver. Samples from 2022 exploration returned results well above background based on regional stream sediment sampling programs, including 0.26 g/t Au and 0.6 g/t Ag (sample F193428), and 0.25 g/t Au and 0.4 g/t Ag (sample F193427; Figure 1). These results, together with results from mapping and previous selective sampling (see March 1, 2023 news release), suggest the potential of a high-level epithermal system peripheral to a porphyry system. The anomalous gold+silver in silt samples are downstream of widespread propylitic alteration and local zones of strong phyllic alteration with associated quartz stockworks and sulfide-cemented breccias.,

The CR area adjoins the Buck project on its western edge and expands the overall property footprint for a contiguous area of 55 mineral claims totalling 52,000 hectares (520 square kilometres). This year represented the first time the CR area was accessed by Sun Summit after its acquisition (see June 1, 2023 news release), and consisted of a first pass reconnaissance assessment of the geological environment and the known zones of mineralization.

A large IP chargeability anomaly, located in the northern section of CR at the North Zone, has seen limited exploration. The anomaly is associated with strong zinc in soils, as well as historic rock samples that have returned values of up to 0.4 g/t Au and 31.7 g/t Ag (sample 3233760; Figure 1).

Previous exploration campaigns in the CR area included soil, rock, and silt sampling, airborne and ground geophysics, as well as diamond drilling. The most significant drill intercepts to date are reported from the South Zone, and include 68 metres¹ at 0.50% Cu, 0.015% Mo in CR05-03; and 168 metres at 0.37% Cu, 0.017% Mo in CR07-14².

The CR area contains priority targets that warrant detailed systematic follow-up. All known targets show strong porphyry-related mineralization and alteration (distal and proximal assemblages) and are open for expansion.

Drill Program Completion

The expansion drill program at Buck Main has been completed, consisting of 13 drill holes for 3,736 metres. These holes were targeting new zones of potential high-grade and bulk-tonnage mineralization in previously untested areas, both laterally and at depth. Updated 3D modelling at Buck Main led to an improved understanding of the geological and structural controls of mineralization, and drill holes were designed to test fault structures and veins that are often associated with high-grade mineralization elsewhere within the Buck Main zone.

Initial drill results indicated significant gold, silver, and zinc mineralization extend laterally and at depth, and support the potential for depth extension of bulk tonnage-style disseminated mineralization being delineated at Buck Main (see September 6, 2023 news release).

The remaining drill holes are being processed for assay and geochemical analysis at the lab. Analytical results will be reported as they become available and undergo QA/QC.

Quality Assurance and Quality Control

All sample assay results have been monitored through the Company's quality assurance / quality control (QA/QC) program. All sample assay results have been monitored through the Company's quality assurance / quality control (QA/QC) program. Rock, silt and soil samples collected in the field were placed in polyethylene bags (rocks), kraft paper sample bags (soils), and spunbonded polyester fabric bags (silts). UTM coordinates of sample locations were recorded using a handheld Garmin GPS device. For soil samples, sample locations were marked in the field with coloured flagging tape with unique sample number identifiers. Rock grab samples were marked using metal tags with unique coloured flagging tape and unique sample numbers. The samples were brought from the field daily to the Company's secure core logging facility in Houston, B.C.

After drying the samples were organized by sample number and type and secured with tamper-proof security seals in rice bags for shipment. Samples were shipped by bonded courier Bandstra Transportation Systems Ltd to ALS Global preparation facilities in Kamloops, B.C., and then on to the ALS Global analytical laboratory in North Vancouver, B.C. for analysis. ALS Global is registered to ISO / IEC 17025:2017 accreditations for laboratory procedures. Rock silt and soil samples were prepared at the lab using standard analytical preparation procedures, including weighting and screening, and for rocks, crushing, pulverizing and splitting.

Rock samples were analyzed for 33 elements by ICP-MS on a 0.25-gram aliquot using a four-acid digestion (method ME-ICP61). Gold was analyzed by fire assay on a 30-gram aliquot with an AAS finish (method Au-AA23). Samples with >10 parts per million (ppm) gold were re-analyzed by fire assay using a gravimetric finish on a 30-gram aliquot. Samples with >100 ppm silver were re-analyzed using an ore -grade four acid digestion and ICP-AES finish. Samples with >10,000 ppm zinc were re-analysed using an ore -grade four acid digestion and ICP-AES finish.

Soil and silt samples were analysed for gold and silver only. Gold was analyzed by fire assay on a 30-gram aliquot with an AAS finish (method Au-AA23). Silver was analyzed using aqua regia digestion followed by an AAS finish (method Ag-AA45).

In addition to ALS Global laboratory QA/QC protocols, Sun Summit implements a rigorous 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 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 also verified the data disclosed, including sampling, analytical and test data, underlying the technical information in this news release.

Community Engagement

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

The Buck Project is situated in a historic mining district near Houston, B.C., with excellent nearby infrastructure that allows for year-round, road-accessible exploration.

The project is host to the Buck Main intermediate-sulfidation epithermal-related gold-silver-zinc system. Most of the mineralization drilled to date at Buck Main consists of long, continuous zones of disseminated and breccia-hosted, bulk tonnage-style gold-silver-zinc. Vein-hosted, high-grade mineralization has also been intersected near the center of Buck Main.

Exploration at the Buck Project is focused on investigating the lateral and vertical extent of gold-silver-zinc mineralization at the Buck Main system, and to define additional drill targets across the entire land package through systematic exploration programs.

About Sun Summit

Sun Summit Minerals (TSXV: SMN) (OTCQB: SMREF) is a mineral exploration company focused on expanding its gold, silver, and zinc discovery at its flagship Buck Project located in north-central British Columbia.

Sun Summit is committed to environmental and social responsibility, with a focus on accountable development and building respectful and beneficial relationships with Indigenous and local communities.

Further details are available at www.sunsummitminerals.com.

Link to Figures

Figure:
https://sunsummitminerals.com/wp-content/uploads/2023/09/Fig-1-Buck_MoriceMtn_CR_NR.jpg

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. 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.

¹Intervals are downhole core lengths. True widths are unknown.
²Kraft et al, 2019, Year-End Report on Geophysical, Geological and Geochemical Work Conducted During 2019, CR Mineral Tenure, Omineca Mining Division, BC Ministry of Energy and Mines, AR 39054, 352 p

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