Sun Summit Commences Drilling on New High Priority Targets on the Buck Project

Vancouver, British Columbia--(Newsfile Corp. - March 15, 2023) - Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) is pleased to announce that it has commenced drilling on two new high priority targets at the 43,000 hectare Buck Project, central British Columbia.

Highlights

• Initial 2,000 metre program: The drill program will include approximately 2,000 metres of diamond drilling at two newly delineated and previously untested drill targets (IRK and Eagle Eye), with substantial new discovery potential, based on recent exploration results (see news release dated February 8, 2023). This is the first drill program undertaken by the Company outside of the Buck Main Zone.

• IRK Target: An initial 1,200 metres of drilling is planned to test anomalous silver, zinc, lead and copper in soil and rock samples, which are spatially coincident with geophysical lineaments, interpreted to potentially represent structurally-controlled epithermal-related Au-Ag-Zn vein mineralization. Drilling will systematically test the strongest coincident anomalies across the broad IRK target.

• Eagle Eye Target: Approximately 800 metres of diamond drilling will focus on testing a strong high-chargeability anomaly associated with a broad zone of intense phyllic alteration interpreted to represent distal alteration related to a concealed porphyry target. Drilling will focus on testing the strongest coincidental anomalies at depth.

• Ongoing exploration: The Company is continuing with exploration targeting throughout the project area, including Silverthorne, Morice Mountain, and Dungate South, which are being refined to establish geologic model and scale in advance of final drill hole vectoring. Additional targets at Buck Main are being developed, where a drill program conducted in fall 2022 (see news release dated January 19, 2023) demonstrated strong ongoing expansion potential.

"This is a very exciting drill campaign at the Buck Project where we'll be testing two new targets that have never before been drill tested," stated Sharyn Alexander, Sun Summit's President. "The potential for new discoveries on the project is very high and our systematic approach to exploration targeting gives excellent potential to develop drill-worthy targets outside the existing Buck Main mineralized zone. Drilling at these two new targets and continued development of additional high priority exploration targets across the project area will provide steady news flow in the near term."

Drill Program

Exploration crews have mobilized to the site and drilling is underway at the first target, Eagle Eye. After completion of approximately 800 metres of drilling at Eagle Eye, the drill will mobilize further south to the IRK Zone where approximately 1,200 metres of drilling will be completed.

The Eagle Eye target is located three kilometres southwest of Buck Main and is characterized by a strong chargeability-high anomaly associated with outcropping quartz-sericite-pyrite (phyllic) altered volcanic and intrusive rocks (Figure 1). The center of the chargeability-high anomaly is also coincident with a broad magnetic-high anomaly interpreted to reflect a deep and concealed magnetic source, such as a porphyry.

 
Figure 1. Map showing drill target area at Eagle Eye
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/158474_316e3b2cf49abbe5_001full.jpg

The IRK target is located 11 kilometres south of Buck Main and is characterized by extensive silver-zinc-lead-copper coincidental soil and rock geochemical anomalies associated with numerous N-S trending high-resistivity and high-chargeability lineaments (Figure 2), which could indicate structurally-controlled epithermal-related Au-Ag-Zn vein mineralization.

Although mostly concealed by young till and soils, the IRK target is interpreted to be underlain by volcanic and volcaniclastic rocks of the Late Cretaceous Kasalka Group. These prospective rocks host epithermal-related mineralization at Buck Main and also epithermal-related mineralization at the Blackwater and Capoose gold-silver development projects (Artemis Gold Inc.) and high-grade silver-base metal veins at Silver Queen (Equity Metals Corp.).

 
Figure 2. Map showing drill target area at IRK
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/158474_316e3b2cf49abbe5_002full.jpg

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 1:
https://sunsummitminerals.com/wp-content/uploads/2023/03/Fig-1-EagleEye_Targeting_Mar_NR.jpg

Figure 2:
https://sunsummitminerals.com/wp-content/uploads/2023/03/Fig-2-IRK_Targeting_Mar_NR.jpg

For further information, contact:

Sharyn Alexander
President
info@sunsummitminerals.com

Roger Blair
Acuity Advisory Corp., Corporate Communications
rblair@acuityadvisorycorp.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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