Ms. Sharyn Alexander reports

SUN SUMMIT EXTENDS HIGH-GRADE MINERALIZATION AT BUCK PROJECT, B.C., INTERSECTS 6.4 G/T AU AND 27.6 G/T AG OVER 7.0 METRES, INCLUDING 38.0 G/T AU AND 137.0 G/T AG OVER 1.1 METRES IN WESTERN STEP OUT HOLE

Sun Summit Minerals Corp. has released drill results from the first five holes of its fall 2022 exploration drill program on its Buck project in central B.C. The program consisted of 10 diamond drill holes totalling approximately 3,000 metres.

The focus of the drill program was to test the extent of the Buck Main gold-silver-zinc epithermal-related system along strike and at depth. Analytical results from the first five expansion holes indicate the presence and continuity of gold-silver-zinc epithermal-related mineralization beyond the previously tested Buck Main mineralized system. Three of the westernmost holes intersected broad zones of strong gold-silver-zinc mineralization with numerous higher-grade intervals.

Highlights from the first five holes include:

• Hole BK22-083:
  • 72 metres of 0.5 grams per tonne (g/t) gold (Au) and 10 g/t silver (Ag), including 4.2 m of 3.1 g/t Au and 53.8 g/t Ag;
  • Seven m of 6.4 g/t Au and 27.6 g/t Ag, including 1.1 m of 38 g/t Au and 137 g/t Ag.
• Hole BK22-082:
  • 37.3 m of 0.7 g/t Au and 10.9 g/t Ag, including 1.5 m of 11.8 g/t Au and 39.2 g/t Ag, before the hole was lost in bad ground.
• Hole BK22-081:
  • 27 m of 0.4 g/t Au and 14.9 g/t Ag, before the hole was lost in bad ground.
• Results demonstrate strong expansion potential for both disseminated and high-grade gold-silver-zinc mineralization to the west and to the south of previous drill programs.

Sharyn Alexander, Sun Summit's president, stated: "Our goal for the fall 2022 drill program at Buck Main was to investigate lithologic and structural controls on gold-silver-zinc mineralization, as well as scale potential along strike, primarily to the west and south of where our previous drilling defined new zones of mineralization. Initial results from these five holes appear to support our objective and demonstrate the potential for expansion. With every new stepout hole, we gain valuable insight into the Buck Main system, which helps us better plan for the next phase of drilling. Analytical results from the remaining five holes conducted in this drill program are expected shortly and will be reported as they become available."

Drill program

The primary objective of the fall 2022 drill program at Buck Main was to investigate the lateral and vertical extent of near-surface gold-silver-zinc mineralization, covering a known east-west strike length of one kilometre. A total of 10 diamond drill holes were completed over 3,000 metres, two of which were terminated early due to bad ground conditions. Most holes were drilled on similar sections as previous drill programs to better facilitate modelling and structural interpretation.

Three of the five holes in this release were drilled to the west of previous stepout holes (that is, holes BK21-059, BK21-065, BK22-070 and BK22-072) to test for depth, as well as southern and western mineralization extent. The two remaining holes, designed to test for mineralization potential below basalt cover rocks, were drilled on the eastern side of Buck Main.

Hole BK22-083 was collared to the southwest of BK22-072 (see May 3, 2022, news release). The hole was designed to test for the western extent of strong gold-silver-zinc mineralization intersected in BK22-070 (see May 3, 2022, news release) as well as test for vertical continuity of mineralization. Numerous broad zones of disseminated and veinlet-hosted sulphide mineralization were intersected and yielded intervals such as 6.4 g/t Au and 27.6 g/t Ag over seven metres, including 38 g/t Au and 137 g/t Ag over 1.1 metres. This hole successfully extended mineralization 40 metres to the west from hole BK22-072.

Holes BK22-081 and BK22-082 were drilled to the southwest, and were designed to test for the southwestern extent of mineralization previously intersected in holes BK21-059 and BK21-065 (see Feb. 22, 2022, news release). Both holes collared in strong disseminated mineralization, highlighted by 0.7 g/t Au and 10.9 g/t Ag over 37.3 m, including 11.8 g/t Au and 39.2 g/t Ag over 1.5 m in BK22-082. Both holes were terminated early due to bad ground conditions. Together with the top of BK21-059, both holes successfully defined a zone of near-surface mineralization with open depth potential to the south.

Two holes were also drilled east of the known limits of the Buck Main zone. Holes BK22-084 and BK22-085 were collared east of BK22-075 (see June 1, 2022, news release). Both holes bottomed in mineralized rocks and returned numerous intervals of broad gold-silver-zinc mineralization (that is, 0.5 g/t Au and 15 g/t Ag over 15.5 m in BK22-084, and 0.7 g/t Au and 5.4 g/t Ag over 15 m of in BK22-085), and suggest the main epithermal-related system extends below basalt cover eastward. Additional drilling is warranted to fully investigate the eastern and northeastern lateral extent of the Buck Main system.

Upcoming events:

• Jan. 23 to Jan. 26, AME Roundup, Vancouver:
  • Jan. 23 to Jan. 24: Exhibition Hall, booth No. 89;
  • Jan. 23 to Jan. 24: Core Shack, booth No. 922;
  • Jan. 26: B.C., Yukon and Alaska session, technical talk at 9:45 a.m.
• Jan. 29 to Jan. 30, Vancouver Resource Investment Conference (VRIC), Vancouver:
  • Booth No. 309;
  • Corporate presentation, Jan. 30: workshop 2 at 2 p.m.

Quality assurance and quality control

All sample assay results have been monitored through the company's QA/QC program. Drill core was sawn in half at Sun Summit's core logging and processing facility in Houston, B.C. Half of the core was sampled, and shipped in sealed and secure bags to the ALS Global preparation facilities in Langley, B.C., by bonded courier. Samples were prepared using standard preparation procedures. Following sample preparation, the pulps were sent to the ALS Global analytical laboratory in North Vancouver, B.C., for analysis. ALS Global is registered to ISO/IEC 17025:2017 accreditation for laboratory procedures.

Core samples were analyzed for 48 elements by ICP-MS (inductively coupled plasma mass spectrometry) on a 0.25-gram sample using a four-acid digestion (method ME-MS61L). Gold was analyzed by fire assay on a 30 g sample with an AAS (atomic absorption spectroscopy) finish (method Au-AA23). Samples with over 10 parts per million (ppm) gold were reanalyzed by fire assay using a gravimetric finish on a 30 g sample. Samples with over 100 ppm silver were reanalyzed using a four-acid digestion and ICP-AES (inductively coupled plasma atomic emission spectroscopy) finish. Samples with over 10,000 ppm zinc were reanalyzed using a four-acid digestion and ICP-AES finish.

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 of exploration, Ken MacDonald, PGeo, 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 Sun Summit Minerals Corp.

Sun Summit Minerals is an exploration company focused on expanding its gold, silver and zinc discovery at its flagship 100-per-cent-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, and building respectful and beneficial relationships with indigenous and local communities.

We seek Safe Harbor.