Mr. Brian Lock reports

SUN SUMMIT ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Sun Summit Minerals Corp. has closed its non-brokered private placement previously announced in the company's press releases on June 27, 2024, July 12, 2024, and July 17, 2024, through the issuance of: (i) 3,674,571 flow-through units of the company at a price of 21 cents per FT unit; and (ii) 2,541,666 non-flow-through units of the company at a price of 18 cents per NFT unit, for aggregate gross proceeds to the company of $1,229,160.

Sharyn Alexander, Sun Summit's president, stated: "We are very pleased with the level of interest in Sun Summit and the oversubscribed financing, which has strengthened our balance sheet and positions us for a very active exploration season. These additional funds, which can be seen as a continuation of our previous placement, will allow us to expand our exploration activities this season and be well positioned to test the full potential of this promising epithermal gold-silver system on the JD project in the re-emerging Toodoggone copper-gold district. We appreciate the continued support of new and current shareholders, which reflects the high calibre of our projects and technical team."

Each FT unit consisted of one common share of the company issued on a flow-through basis under the Income Tax Act (Canada) and one-half of one common share purchase warrant of the company. Each NFT unit consisted of one non-flow-through common share of the company and one-half of one warrant. Each warrant entitles the holder to acquire one non-flow-through common share of the company at an exercise price of 25 cents per share until July 24, 2026.

The company intends to use the proceeds of the private placement for exploration and development of the company's mineral property interests in British Columbia, Canada, and for general working capital purposes.

In connection with the private placement, the company paid aggregate cash finders' fees of $57,124 and granted an aggregate of 283,248 non-transferable finders' warrants of the company to arm's-length finders of the company in connection with the private placement. Each finder's warrant entitles the holder thereof to purchase one common share of the company, at an exercise price of 18 cents per share in respect of the NFT unit portion of the private placement, and 21 cents per share in respect of the FT unit portion of the private placement, until July 24, 2026. With respect to the finder GloRes Securities Inc., 50 per cent of the finder's fee, being $14,700 in cash and 70,000 finder warrants, were issued to Marquest Asset Management Inc. under a selling concession agreement between these entities.

The private placement is subject to the final approval of the TSX Venture Exchange. The securities issued in the private placement are subject to a hold period expiring on Nov. 25, 2024, in accordance with applicable securities laws.

About Sun Summit Minerals Corp.

Sun Summit 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 JD project in the Toodoggone region of north-central British Columbia and the Buck project in central B.C.

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.