Ms. Sharyn Alexander reports

SUN SUMMIT STEP-OUT DRILLING EXPANDS NEAR-SURFACE GOLD-SILVER-ZINC MINERALIZATION AT BUCK PROJECT, B.C.; INTERSECTS 54.6 METRES OF 0.83 G/T AU, 9.2 G/T AG AND 0.21% ZN, INCLUDING 3.0 METRES OF 6.06 G/T AU, 62.5 G/T AG AND 0.52% ZN

Sun Summit Minerals Corp. has released final drill results from its fall 2022 exploration drill program at the Buck project, central British Columbia. The program consisted of 10 diamond drill holes totalling approximately 3,000 metres.

The focus of the drill program was to test the expansion potential of the Buck Main gold-silver-zinc epithermal-related system along strike and at depth, with stepout distances between 50 and 100 metres. Results from this phase of drilling successfully demonstrate strong expansion potential for both disseminated and high-grade gold-silver-zinc mineralization beyond the existing extent of the known Buck Main zone to the west, northwest and south of previous drill programs. The newly expanded zone of mineralization remains open in multiple directions and is expected to see further stepout drill testing in the next phase of drilling.

Highlight intervals include:

• Hole BK22-080, drilled into an untested area, significantly opens the expansion potential of near-surface gold-silver-zinc mineralization to the northwest:
  • 81.2 metres of 0.58 gram per tonne gold, 11.8 g/t Ag and 0.08 per cent Zn, including 10.1 metres of 1.4 g/t Au, 26.6 g/t Ag and 0.20 per cent Zn;
  • 5.6 metres of 1.18 g/t Au, 43.9 g/t Ag and 0.34 per cent Zn, including 1.1 metres of 5.5 g/t Au, 208 g/t Ag and 1.5 per cent Zn;
    • This high-grade interval is located approximately 250 m to the northwest of drill hole BK22-083 (see Jan. 19, 2023, news release) which intersected seven metres of 6.4 g/t Au, 27.6 g/t Ag and 1.1 per cent Zn, including 1.1 metres of 38 g/t Au, 137 g/t Ag and 5.9 per cent Zn.
• Hole BK22-077 extends broad zones of strong gold-silver-zinc mineralization intersected in previous holes to the south:
  • 54.6 metres of 0.83 g/t Au, 9.2 g/t Ag and 0.21 per cent Zn, including three metres of 6.06 g/t Au, 62.5 g/t Ag and 0.52 per cent Zn.
• Hole BK22-079 represents the largest stepout to the west and extends the footprint of mineralization at Buck Main to over one kilometre along strike:
  • 4.7 metres of 0.91 g/t Au, 17.3 g/t Ag and 0.66 per cent Zn, including 1.1 metres of 3.4 g/t Au, 68.6 g/t Ag and 2.05 per cent Zn;
  • One metre of 5.1 g/t Au, 2.7 g/t Ag and 0.56 per cent Zn at bottom of hole.

"We are very encouraged by results from all holes drilled during our last drill program, particularly holes BK22-080 and BK22-079," stated Sun Summit's president, Sharyn Alexander. "These holes tested new areas, previously undrilled, and expanded the known footprint of gold-silver-zinc mineralization.

"Our primary goal for the fall 2022 drill program at Buck Main was to investigate the scale potential along strike, primarily to the west, south and northwest of previous drilling. We hit mineralization in all but one stepout hole and consider the program to be an outstanding success. We now have multiple compelling target areas for ongoing exploration and drilling and anticipate an aggressive exploration campaign for 2023. Our next phase of exploration at the Buck project will include additional stepout drilling at Buck Main, which remains open for possible expansion potential in multiple directions, and activating plans for other high-priority drill targets elsewhere on the property that could lead to additional discoveries."

Drill program

The primary objective of the fall 2022 drill program at Buck Main was to investigate the lateral and vertical extents of near-surface gold-silver-zinc mineralization covering the mineralized footprint outlined so far over an east-west strike length of one kilometre and an approximate width of 600 metres. A total of 10 diamond drill holes were completed over 3,000 metres, two of which were terminated early due to poor ground conditions (see Jan. 19, 2023, news release). Most holes were drilled on similar sections as previous drill programs to better facilitate modelling and structural interpretation. All five holes in this release were drilled on the western side of the Buck Main system with stepout distances between 50 and 100 metres from previous drilling.

Hole BK22-080, collared on the same section as BK22-070 and drilled to the northeast, was designed to test a previously undrilled broad zone of strong gold-in-soil anomalism. The hole collared in strong disseminated mineralization highlighted by an interval of 81.2 metres of 0.58 g/t Au, 11.8 g/t Ag and 0.08 per cent Zn, including 10.1 metres of 1.4 g/t Au, 26.6 g/t Ag and 0.20 per cent Zn from surface. The hole successfully defined a new zone of near-surface disseminated gold-silver-zinc mineralization that remains open in most directions. Additional drilling is clearly warranted to the northwest of Buck Main.

Holes BK22-076, -077 and -078 were collared on the same section as holes BK22-072 and BK22-083 (see May 3, 2022, and Jan. 19, 2023, news releases) and were drilled to the southwest. The holes were designed to test for the southern extent of gold-silver-zinc mineralization previously intersected in BK22-070 and -072 and to investigate lithological controls on mineralization. Drill hole BK22-083 (see Jan. 19, 2023, news release) clearly demonstrated the high-grade potential of the section, which intersected seven metres of 6.4 g/t Au, 27.6 g/t Ag and 1.1 per cent Zn, including 1.1 metres of 38 g/t Au, 137 g/t Ag and 5.9 per cent Zn. Numerous broad zones of disseminated and veinlet-hosted sulphide mineralization were intersected in holes BK22-076 and -077, yielding intervals such as 54.6 metres of 0.83 g/t Au, 9.2 g/t Ag and 0.21 per cent Zn, including three metres of 6.06 g/t Au, 62.5 g/t Ag and 0.52 per cent Zn in BK22-077. Hole BK22-078 collared in altered but unmineralized volcanic and sedimentary rocks, likely part of the hangingwall to the Buck Main system.

Hole BK22-079 represents the largest stepout drilled along strike west of the Buck Main system. The hole intersected multiple zones of gold-silver-zinc mineralization, highlighted by 4.7 metres of 0.91 g/t Au, 17.3 g/t Ag and 0.66 per cent Zn, including 1.1 metres of 3.4 g/t Au, 68.6 g/t Ag and 2.05 per cent Zn at 223.6 metres, and one metre of 5.1 g/t Au, 2.7 g/t Ag and 0.56 per cent Zn at the bottom of hole. The hole extends the strike length of the Buck Main system to over one kilometre east-west and defines a new target to test in upcoming drill programs.

Upcoming Sun Summit events:

• Jan. 23 to 26, Vancouver AME Roundup:
  • British Columbia, Yukon and Alaska session, technical talk, Jan. 26 at 9:45 a.m.;
• Jan. 29 to 30, Vancouver Resource Investment Conference (VRIC):
  • Booth No. 309;
  • Corporate presentation, Jan. 30; workshop 2 at 1:30 p.m.;
• Feb. 11 to 12, Whistler Capital Event (CEM).

Quality assurance and quality control

All sample assay results have been monitored through the company's quality assurance/quality control (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 by a bonded courier in sealed and secure bags to the ALS Global preparation facilities in Langley, B.C. 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 accreditations for laboratory procedures.

Core samples were analyzed for 33 elements by inductively coupled plasma mass spectrometry on a 0.25-gram sample using four-acid digestion (method ME-MS61L). Gold was analyzed by fire assay on a 30-gram sample with an 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-gram sample. Samples with over 100 ppm silver were reanalyzed using four-acid digestion and inductively coupled plasma atomic emission spectrscopy finish. Samples with over 10,000 ppm zinc were reanalyzed using 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, 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.