The TSX Venture Exchange has accepted for filing a purchase and sale agreement dated as of May 31, 2023, between Sun Summit Minerals Corp. and Teck Resources Ltd., whereby the company acquired from the vendor 19 mineral claims totalling 8,964.30 hectares located in British Columba known as the CR property through the issuance of 2,727,727 common shares of the company to the vendor. The vendor has retained a 1.0-per-cent net smelter return (NSR) royalty on the CR property, of which one-half (a 0.5-per-cent royalty) may be repurchased for $2-million at any time, resulting in the vendor retaining a 0.5-per-cent NSR royalty. Additionally, the CR property is subject to an underlying 0.5-per-cent net smelter return royalty to the original owner of some mining claims, which can be repurchased for $10-million.

Please refer to the company's news releases dated June 1, 2023, and June 13, 2023, for further details.