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Sun Summit Defines Multiple High-Priority Gold Targets at the Creek Zone, JD Project in the Toodoggone District, North-Central B.C.

Highlights:

• Multiple priority drill targets defined through extensive data review: An ongoing comprehensive review and compilation of property-wide historical exploration data has resulted in the definition of multiple new target areas, including identification of extensions to previously drilled near-surface high-grade gold mineralization within the Creek zone.
  
  
• High-grade gold mineralization in historical drill holes at Creek zone: Results from limited historical drilling highlight the high-grade gold potential of structurally controlled, sulfide-rich mineralization at the Creek zone. Select drill highlights* include:
  • 22.0 m of 11.7 g/t Au including 4.0 m of 61.2 g/t Au (CZ97-008¹)
  • 21.5 m of 3.1 g/t Au including 3.0 m of 18.7 g/t Au (CZ98-012²)
    
    
• Intermittent sampling in historic drill holes suggests further drilling is clearly warranted: Historic core sampling was locally selective and left significant gaps in assay data, which does not allow for the adequate evaluation of gold mineralization continuity or target scale potential. Drill holes that were continuously sampled, however, demonstrate the presence of previously unrecognized bulk-tonnage style gold mineralization at the JD project.
  
  
• Follow-up drill testing and field programs planned for 2024: The structural controls on high-grade mineralization at the Creek zone remains unknown. Planned drilling, as well as surface geochemical and geophysical surveys, will aim to investigate the orientation and extent of the high-grade mineralization, evaluate the bulk-tonnage potential, as well as target high-grade veins within the Creek zone.

* Note drill intervals are downhole core lengths. True widths are unknown.

"The primary goal of our data compilation effort is to generate walk-up, high-potential drill targets," stated Sharyn Alexander, Sun Summit's President. "Numerous priority areas, based primarily on review of historical drilling, have already emerged from the Finn and Creek zones. At the Creek zone, previous drilling is limited, and it is clear that high-grade mineralization is open in all directions. Previous drill programs also identified bulk-tonnage style mineralization which adds to our belief that the JD project hosts significant size and scale potential. The fact that most holes were selectively sampled, leaving large gaps in assay data, limits our evaluation of the true scale and potential of these exciting targets. We therefore plan to aggressively explore the Finn and Creek zones this year with a program consisting of diamond drilling, IP geophysics and targeted mapping. Further details of the upcoming field program will be announced as the data compilation and target generation progresses."

JD Project Overview

The JD Project comprises over 15,000 hectares of contiguous mineral claims in the prolific Toodoggone gold-copper mining district in north-central British Columbia (Figure 1). The project is host to high-grade, epithermal-related, gold-silver systems and porphyry-related copper-gold systems and lies just north of the Kemess Cu-Au mining camp.

Figure 1. JD Project showing Finn and Creek targets

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/197561_b375a6727405fbf5_001full.jpg

A comprehensive review and compilation of historic data from across the JD Project area has identified multiple high-priority drill targets at the Finn zone (see February 1, 2024 news release) as well as the Creek zone. The extensive historic data, dating back to the early 1970s and reported in over 70 public assessment reports, represents a critical component to ongoing target selection and exploration prioritization.

Creek Zone

The Creek Zone, centered approximately 3 kilometres to the west of the Finn Zone (Figure 1), is underlain primarily by andesite flows and volcanic breccias of the Toodoggone formation. Near-surface high-grade gold mineralization is associated with replacement-style, pyrite, sphalerite, galena and chalcopyrite within a broad zone of quartz-carbonate stockwork. The Creek zone was first discovered in 1997 and was followed-up by drilling in 1998 where a further 11 drill holes tested an interpreted strike-length of over 450 metres (Figure 2). The discovery hole, CZ97-008, intersected numerous zones of high-grade gold mineralization, highlighted by an interval of 4.0 metres of 61.2 g/t Au. This interval was later re-analysed via metallic screens and returned 4.0 metres of 103.3 g/t Au¹. Subsequent drill holes also intersected numerous zones of strong gold mineralization, (e.g., 21.5 metres of 3.1 g/t Au including 3.0 metres of 18.7 g/t Au, CZ98-012²).

Figure 2. Historical drill collars and select downhole Au intervals at the Creek zone

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/197561_b375a6727405fbf5_002full.jpg

Although drilling, logging and surveying methods were completed to industry standards during the 1998 program, most historic holes contain broad gaps due to discontinuous sampling and assaying (Figures 3 and 4). Only holes CZ98-009² (72.3 metres at 0.8 g/t Au including 4.3 metres at 6.7 g/t Au) and CZ98-016² (57.0 metres at 0.6 g/t Au including 26.0 metres at 1.0 g/t Au) were subject to near-continuous sampling. These holes, located 350 metres apart, demonstrate the presence of previously unrecognised bulk-tonnage style gold mineralization at the JD project. Additionally, the remaining holes from the 1998 drill program contain significant gaps in assay data where many higher-grade veins lack neighbouring assays preventing adequate evaluation of gold mineralization continuity or target scale potential (e.g., bottom of CZ98-015², Figures 3 and 4).

Figure 3. Northwest-southeast section through the historical drilling at the Creek zone

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/197561_b375a6727405fbf5_003full.jpg

A full review of all Creek zone exploration data including soil and rock geochemical sample data, trench data, and magnetic geophysical data is ongoing. However, based on compiled drill data, a systematic exploration program is being planned to include:

• Step-out drilling near the 1997 discovery hole to evaluate the orientation and extent of the high-grade mineralization while also sampling complete holes for full multi-element geochemistry.
• Tight-spaced IP (induced polarization) geophysical survey to investigate the size of the largely concealed, pyrite-rich alteration zone peripheral to the high-grade veins.
• Based on structural data from surface mapping and geochemistry together with drill hole data and IP models, wider-spaced step-out drill holes along trend to evaluate the scale of the bulk-tonnage system as well as targeting higher-grade veins.

Data compilation is ongoing, and the review is now primarily focused on surface geochemical, geological and geophysical datasets, including approximately 16,000 soil samples, 2,000 rock samples, 130 trenches, and numerous ground- and airborne-based geophysical datasets.

Figure 4. Inset map showing selective sampling in historic drill holes at the Creek zone

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/197561_b375a6727405fbf5_004full.jpg

Table 1. Select historical drillhole intercepts from the Creek zone

* Note drill intervals are downhole core lengths. True widths are unknown.
** Historic core sampling was locally selective and left significant gaps in assay data.

Upcoming Events

• SMCI Kelowna Capital Event, February 15^th, 2024 (Kelowna)
• Red Cloud Live Webinar, February 20^th, 2024, 11 am PT / 2 pm ET (virtual)
• Red Cloud Pre-PDAC Mining Showcase, February 29^th to March 1^st, 2024 (Toronto)

National Instrument 43-101 Disclosure

This news release has been reviewed and approved by Sun Summit's Vice President Exploration, Ken MacDonald, P. Geo., a "Qualified Person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has not been able to verify the historical exploration data disclosed, including sampling, analytical and test data, underlying the technical information in this news release since such data is historical and the original drill core is not readily available. Technical information contained in this release is historical in nature and has been compiled from public sources believed to be accurate. The technical information has not been verified by Sun Summit and may in some instances be unverifiable dependent on the existence of historical drill core and grab samples.

Community Engagement

Sun Summit is engaging with First Nations on whose territory our projects are located and is discussing their interests and identifying contract and work opportunities, as well as opportunities to support community initiatives. The Company looks forward to continuing to work with local and regional First Nations with ongoing exploration.

About the JD Project

The JD Project is located in the Toodoggone mining district in north-central British Columbia, a highly prospective deposit-rich mineral trend. The project covers an area of over 15,000 hectares and is in close proximity to active exploration and development projects, such as Thesis Gold's Lawyers and Ranch projects, TDG Gold's Baker-Shasta projects, Centerra's Gold's Kemess East and Underground projects, as well as the past-producing Kemess open pit copper-gold mine.

The project is 450 kilometres northwest of the city of Prince George, and 25 kilometres north of the Sturdee airstrip. It is proximal to existing infrastructure in place to support the past-producing Kemess mine, including roads and a hydroelectric power line.

The JD Project is in a favourable geological environment characterized by both high-grade epithermal gold and silver mineralization, as well as porphyry-related copper and gold mineralization. Some historic exploration, including drilling, geochemistry and geophysics, has been carried out on the property, however the project area is largely underexplored.

About Sun Summit

Sun Summit Minerals (TSXV: SMN) (OTCQB: SMREF) 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 Buck Project in central B.C, and the JD Project in the Toodoggone region of north-central B.C.

Further details are available at www.sunsummitminerals.com.

References

1. Hawkins, P.A. (1998), 1997 Exploration Report on the Creek Zone for Antares Mining and Exploration Corporation and AGC Americas Gold Corporation, JD Property, Toodoggone River Area, Omineca Mining Division, Internal Report #98-065-1.
2. Davis, J.W., and Jamieson, M.D. (1998), Drilling and Geophysical Report on the M.H. Mineral Clain Group, Toodoggone District, Assessment Report Indexing System, Report 25757, https://apps.nrs.gov.bc.ca/pub/aris.

Link to Figures

Figure 1:
https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2024/02/Fig1_JD_Overview.png

Figure 2:
https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2024/02/Fig2_Creek_Drilling.png

Figure 3:
https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2024/02/Fig3_Creek_Section.png

Figure 4:
https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2024/02/Fig4_Creek_Section_Inset.png

On behalf of the board of directors

Brian Lock

For further information, contact:

Sharyn Alexander
President
info@sunsummitminerals.com

Matthew Benedetto
Simone Capital
mbenedetto@simonecapital.ca

Tel. 416-817-1226

Forward-Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management's assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, potential mineralization, exploration plans, and engagement with First Nations communities. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: risks inherent in exploration activities; the impact of exploration competition; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/197561