Vancouver, B.C. February 5, 2024: Sun Summit Minerals Corp. (TSX-V: SMN; OTCQB: SMREF) (the “Company” or “Sun Summit”) is pleased to announce, further to the Company’s news releases dated November 9, 2023, January 9, 2024, and January 29, 2024that it has closed its option agreement (the “Option Agreement”) with arm’s length parties of the Company (the “Optionors”), pursuant to which the Company has been granted the option to acquire a 100% interest in the JD Project in the Toodoggone gold-copper district in north-central British Columbia. For further details regarding the Option Agreement, see the Company’s press release dated January 9, 2024.

In connection with the Option Agreement, Sun Summit intends to consolidate its outstanding common shares on the basis of one post-consolidation common share for every three pre-consolidation common shares, as described in the Company’s news releases dated November 9, 2023 and January 29, 2024 (the “Consolidation”). It is anticipated that the Company’s common shares will begin trading on the TSX Venture Exchange on a post-consolidated basis at market open on February 8, 2024. The Option Agreement and Consolidation remain subject to the final approval of the TSX Venture Exchange.

The Company will be issuing the initial tranche of 2,000,000 common shares of the Company to the Optionors under the Option Agreement shortly after completing the Consolidation. All common shares of the Company issued pursuant to the terms of the Option Agreement are subject to a hold period under applicable securities laws of four months from the date of issuance.

About Sun Summit

Sun Summit Minerals (TSX-V: 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.

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.

Further details are available at www.sunsummitminerals.com.

On behalf of the board of directors

Brian Lock

For further information, contact:

Sharyn Alexander
President
info@sunsummitminerals.com