Mr. Galen McNamara reports

SUMMA SILVER ANNOUNCES MOGOLLON PROJECT ANNIVERSARY PAYMENT PURSUANT TO AMENDED LEASE AGREEMENTS

Further to Summa Silver Corp.'s news releases dated March 23, 2022, March 16, 2023, and March 18, 2024, and subject to final approval from the TSX Venture Exchange, the company will issue an aggregate of 112,324 common shares pursuant to two previously entered into amended and restated mining lease agreements. The common shares are being issued at a deemed value of 35.16 cents per common share, being the 20-day volume weighted average price of the company's common shares as traded on the TSX-V. Such payments represent the fourth of 10 annual payments due pursuant to the amended lease agreements. The amended lease agreements relate to mining claims which form part of the Mogollon project near Silver City, N.M.

Pursuant to the amended lease agreements, the company has agreed to continue to lease certain mining claims which form part of the Mogollon project for a period of 10 years and renewable in 10-year terms at the company's election. The company must make aggregate cash payments of $99,067 (U.S.) on annual basis for such period under the amended lease agreements. Such annual payments are indexed to the production price index for industrial commodities as published by the United States Bureau of Labor Statistics (the PPI). The company may, in its sole discretion, elect to pay an aggregate of $27,018 (U.S.) (indexed to PPI) of the annual amount payable under the lease agreements by issuing common shares at a deemed value equal to the 20-day volume weighted average price of the company's common shares as traded on the TSX-V, subject to the maximum discounted market price allowed under the policies of the TSX-V.

About Summa Silver Corp

Summa Silver is a junior mineral exploration company. The company owns a 100-per-cent interest in the Hughes project located in central Nevada and the Mogollon project located in southwestern New Mexico. The high-grade past-producing Belmont mine, one of the most prolific silver producers in the United States between 1903 and 1929, is located on the Hughes project. The Mogollon project is the largest historic silver producer in New Mexico. Both projects have remained inactive since commercial production ceased and neither has seen modern exploration prior to the company's involvement.

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