Sun Summit Defines High Priority Au-Ag Targets at the Finn Zone, JD Project in the Toodoggone District, North-Central B.C.

Vancouver, February 1, 2024 - Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) is pleased to announce that it has identified high priority gold and silver drill targets at the Finn zone, central to the recently optioned JD Project in the Toodoggone gold-copper mining district in north-central British Columbia.

Highlights:

• Significant data compilation has defined priority targets: An ongoing comprehensive review and compilation of property-wide historical data has resulted in the definition of multiple new target areas, including mineralization expansion potential within the Finn Zone.

• High-grade gold and silver mineralization in historical drill holes at Finn: Results from historical drilling highlight the high-grade gold-silver potential of near-surface epithermal-related mineralization at the Finn zone. Select drill highlights* include:

  • 35.7 m of 7.26 g/t Au including 1 m of 215.4 g/t Au (JD95-047¹⁾
  • 22.0 m of 12.5 g/t Au including 0.8 m of 171.5 g/t Au (JD95-064²)
  • 25.9 m of 6.42 g/t Au including 6.1 m of 12.8 g/t Au (JD94-015¹)
  • 22.0 m of 6.32 g/t Au including 12.6 m of 10.8 g/t Au (JD12-003²)
  • 27.8 m of 6.64 g/t Au including 11.0 m of 15.1 g/t Au (JD95-097²)

• Multiple target areas defined for follow-up drill testing: The footprint of mineralization at the Finn zone remains open in most directions, and historical data review identified numerous priority areas for initial drill testing to better define the extent of mineralization along-strike, down-dip and at depth. In addition, many historical drill holes were selectively sampled and the current data review suggests that many of these unsampled areas were in prospective geology.

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

"We are very excited to have commenced the compilation and review of historical exploration data from across the JD Project area as a means of identifying high-priority targets within the project, and specifically at the Finn and Creek zones," stated Sharyn Alexander, Sun Summit's President. "This data compilation is the first of its kind for the project, and is a critical component to ongoing target generation and prioritization. The extensive historical data, dating back to the 1970's will provide invaluable insights into the ongoing exploration potential of the project and lead to boots-on-ground exploration work, expected to commence in late May of this year. As the data compilation and review process progresses, we'll continue to report on additional target areas as they emerge."

JD Project Overview

The JD Project comprises over 15,000 hectares of contiguous mineral claims in the prolific Toodoggone gold-copper mining district in north-central British Columbia. The project is host to high-grade epithermal-related gold-silver systems and porphyry-related copper-gold systems (Figure 1).

Figure 1. JD Project showing key target areas

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/196403_61b77bf194d8e875_001full.jpg

The Company is currently compiling, digitizing, and interpreting all historical exploration data collected since the early 1970s and reported in over 70 public assessment reports. This data compilation will represent a critical component to ongoing target selection and prioritization. Exploration data includes approximately 16,000 soil samples, 2,000 rock samples, 130 trenches, over 330 drill holes, and numerous ground- and airborne-based geophysical datasets.

Finn Zone

Most of the historical drilling at the JD Project was focused on the Finn target where a broad zone of near-surface, epithermal-related gold-silver mineralization has been defined (Figure 2). Mineralization is primarily hosted in the hanging wall of a gently north-dipping, northeast-striking, inferred reverse fault (Figure 3). The fault, traced for over 1.5 kilometres along strike to the west from the Finn zone, separates two andesite-dominant lithological units of the Toodoggone Formation (Metsantan and McClair members). Faulting and subsequent mineralization likely exploited a volcaniclastic unit, at the base the Metsantan member, where epithermal-related fluids were focused along permeable volcanic breccias.

Figure 2. Historical drill collars and select downhole Au intervals at the Finn zone

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/196403_sunsummitfigure2.jpg

The core of the Finn zone consists of strongly silica+clay+sericite altered polymictic breccias, locally cemented with quartz and mineralized with pyrite with lesser sphalerite, galena, and chalcopyrite. Peripheral to the high grade core, epithermal-related alteration grades into sericite+chlorite+pyrite and more distal epidote+chlorite+/-hematite assemblages.

Most of the drilling from the 1990s at the Finn zone targeted the higher-grade core covering a footprint of approximately 300 metres by 100 metres within which drill holes were mostly collared on 25 metre centres. Although drilling, logging and surveying methods were completed to industry standards, core sampling was locally selective and left significant gaps in sampling. Some drill holes ended in Au-Ag mineralization and were not followed up with additional drilling. More recent drilling in 2012 and 2013 tested the margins of the Finn zone and extended the zone of mineralization down-dip for 350 metres and along strike for 500 metres.

Based on this review of historical drilling at the Finn zone, numerous priority areas for initial drill testing have been defined. These include:

• Infill drilling near the center of the high-grade core to verify historical grades, confirm structural controls while drilling deeper to investigate the geometry and grade of the locally strongly mineralized footwall zone (e.g., JD12-009).
• Step-out drilling down-dip towards hole JD12-015 to investigate mineralization continuity and to explore for additional higher-grade zones.
• Step-out drilling along-strike towards hole JD13-024 to systematically test the low-angle fault zone for additional Finn zone-style high-grade gold-silver mineralization.

Data compilation is ongoing and additional target areas will be reported as the process continues.

Figure 3. North-south section of the high grade core of the Finn zone

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/196403_sunsummitfigure3.jpg

Table 1. Select historical drillhole intercepts from the Finn zone

* Note drill 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 historic 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 Buck Project in central B.C, and the JD Project in the Toodoggone region of north-central B.C.

Further details are available at www.sunsummitminerals.com.

References

1. Krause, R.G. (1995), 1994 Geological and Geochemical Report on the JD Gold Silver Property, Toodoggone River Area, Omineca Mining Division, British Columbia, Assessment Report Indexing System, Report 23663, https://apps.nrs.gov.bc.ca/pub/aris.

2. Krause, R.G. (1996), 1995 Geological Report on the JD Gold Silver Property, Toodoggone River Area, Omineca Mining Division, British Columbia, Assessment Report Indexing System, Report 24284, https://apps.nrs.gov.bc.ca/pub/aris.

3. McBride, S. (2013), 2012 Geological, geochemical and diamond drilling report on the JD Property, Assessment Report Indexing System, Report 33556, https://apps.nrs.gov.bc.ca/pub/aris.

4. McBride, S. and Leslie, C. (2014), 2013 Geological, geophysical and diamond drilling report on the JD Property, Assessment Report Indexing System, Report 34762, https://apps.nrs.gov.bc.ca/pub/aris.

Link to Figures

Figure 1:
https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2024/01/Fig1-JD-Project-Overview.jpg

Figure 2:
https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2024/01/Fig2-JD-Finn-Drilling-Overview-v2.jpg

Figure 3:
https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2024/01/Fig3-JD-Finn-Section-v2.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 on the JD Project and the Buck Project, 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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