Mr. Galen McNamara reports

SUMMA SILVER CONFIRMS HIGH-GRADE GOLD-SILVER AT THE KENNEDY PROJECT, NEVADA

Summa Silver Corp. has provided assay results from a recently completed rock sampling program at its high-grade Kennedy project in northern Nevada. Results demonstrate the strong prospectivity for high-grade gold and silver mineralization across the underexplored project.

Key highlights:

• Highlights from the sampling program include:
  • 40.4 grams per tonne gold and 232 grams per tonne silver from the Gold Note target;
  • 10.9 grams per tonne gold and 724 grams per tonne silver from the Gold Note target;
  • 2.9 grams per tonne gold and 759 grams per tonne silver from the Coyote target.
• Widespread high-grade mineralization: High-grade gold and silver in veins and breccias have been identified in underexplored areas, untouched by modern systematic exploration.
• Strong discovery potential: Over 22 kilometres of high-grade gold-silver quartz veins have been traced at surface, revealing a complex, district-scale system.
• Historical data compilation: Digitization of all available historic mining data is continuing and will help focus future exploration programs.
• Drilling complete at Hughes: Six deep holes tested multiple target horizons across the eastern extension of the Tonopah mining district, all intersecting quartz veins, stockworks and breccias. Assays are pending and will be reported when complete.

Galen McNamara, chief executive officer of Summa Silver, stated: "These assay results underscore the exceptional high-grade potential of the Kennedy project. With approximately 22 kilometres of known veins exposed at surface across the project area, we're only beginning to grasp the scale of this system. The true strike length and depth of these vein systems remain largely undefined as the district has yet to benefit from systematic modern exploration techniques. This represents a compelling opportunity to unlock significant value through targeted, data-driven efforts."

Rock samples

A reconnaissance-style prospecting and sampling program was recently completed by Summa's exploration team on unpatented mining claims of the Kennedy project (see Feb. 27, 2025, news release). The purpose of the program was to confirm the presence of high-grade gold-silver mineralization across two priority target areas: Gold Note and Coyote. Areas of historic surface workings (for example, blast pits and mine dumps) as well as subcrop and float were sampled. In total, 23 samples were collected.

Gold Note: Most of the historic gold production in the Kennedy district was from the Gold Note mine. The mine was centred on a series of high-angle, broadly east-west-striking quartz veins hosted in volcanic and sedimentary rocks and traced for over 350 metres. Waste material from the mine has been stacked in dumps near the main Union and No. 2 adits. Sampling of these dumps returned grades up to 40.4 grams per tonne gold with 232 grams per tonne silver and 10.9 grams per tonne gold with 724 grams per tonne silver (Table 1) and average 9.3 grams per tonne gold with 218 grams per tonne silver. These results agree with historic mine grades, which were reportedly as high as 15.5 grams per tonne gold with 311 grams per tonne silver.

Coyote: The northwest-striking Coyote vein system is centred approximately 600 metres north of the Gold Note mine. Veins and quartz-cemented breccias of the Coyote target are hosted primarily in granite and quartz-phyric rhyolite. Sampling of dump material, subcrop and float from the main Coyote target returned grades up to 10.9 grams per tonne gold with 35.5 grams per tonne silver and 2.9 grams per tonne gold with 759 grams per tonne silver (Table 1). Sampling 600 metres along strike to the northwest returned 5.7 grams per tonne gold with 20.8 grams per tonne silver (sample 350121, Table 1).

Selective sampling across the Gold Note and Coyote targets clearly demonstrates the scale and high-grade potential of vein systems typical of the Kennedy project.

Next steps

The Gold Note and Coyote targets represent only two of the six defined target areas across the Kennedy project. None of the targets have seen any modern exploration programs. A multidisciplinary program of geological mapping, rock-chip sampling, ground geophysics and soil geochemical surveys followed by drilling is warranted to define the grade and lateral/vertical extent of near-surface mineralization.

The company is also currently compiling and digitizing all available historical mining, mapping and sampling data. Results from this compilation effort will be released prior to a follow-up exploration program set to commence later this year.

Analytical and quality assurance and quality control procedures

Select samples were sent to Paragon Geochemical Laboratories in Sparks, Nev., for preparation and analysis. Paragon meets all requirements of international standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures. Samples were analyzed for gold by fire assay with an MS finish (AU-FA30) and for silver by inductively coupled plasma mass spectroscopy (ICP-MS) after four-acid digestion (48MA-MS). Samples assaying over eight parts per million gold were rerun by fire assay for gold with a gravimetric finish (AU-GR30). Samples that assayed over 100 parts per million silver (0.01 per cent), 1,000 parts per million copper (1 per cent) and 1,000 parts per million Pb (1 per cent) were rerun by inductively coupled plasma optical emission spectroscopy (OLMA-OES). Paragon inserts reference standards, duplicates and blank samples in each batch of samples with standard internal quality assurance/quality control procedures, which all returned results within acceptable levels.

Qualified person

The technical content of this news release has been reviewed and approved by Galen McNamara, PGeo, the chief executive officer of the company and a qualified person as defined by National Instrument 43-101.

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 in 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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