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 news release on Dec. 2, 2024, through the issuance of: (i) 13,748,621 flow-through (FT) units of the company at a price of 14.5 cents per FT unit; and (ii) 5,265,384 non-flow-through (NFT) units of the company at a price of 13 cents per NFT unit, for aggregate gross proceeds to the company of $2,678,049.97.

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 FT warrant entitles the holder to acquire one non-flow-through common share of the company at an exercise price of 14.5 cents per share until Dec. 20, 2026.

Each NFT unit consisted of one non-flow-through common share of the company and one common share purchase warrant of the company. Each NFT warrant entitles the holder to acquire one non-flow-through common share of the company at an exercise price of 13 cents per share until Dec. 20, 2027.

The company intends to use all of the gross proceeds of the private placement for exploration of the company's JD and Buck properties, and any other Canadian properties that the company may acquire. The company will use the gross proceeds from the issuance of flow-through shares to incur Canadian exploration expenses and qualify as flow-through mining expenditures under the Income Tax Act (Canada).

In connection with the private placement, the company paid aggregate cash finders' fees of $140,426 and granted an aggregate of 989,554 non-transferable finders' warrants of the company to arm's-length finders of the company in connection with the private placement. Each finder warrant entitles the holder thereof to purchase one common share of the company, at an exercise price of 13 cents per share until Dec. 20, 2027, in respect of the NFT unit portion of the private placement and 14.5 cents per share until Dec. 20, 2026, in respect of the FT unit portion of the private placement. With respect to the finder GloRes Securities Inc., 50 per cent of its finder's warrants, being 81,000 finder's 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 April 21, 2025, in accordance with applicable securities laws.

About Sun Summit Minerals Corp.

Sun Summit Minerals 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.