Sun Summit Announces Non-Brokered Private Placement of up to $4 Million to Expand the 2026 Drill Program at the JD Project to 15,000 Meters

Sun Summit Minerals Corp. (SMN) announced a non-brokered private placement for aggregate gross proceeds of up to $4 million CAD. The offering consists of charity flow-through common shares priced at $0.145 and non-flow-through common shares priced at $0.10.

Proceeds are designated to expand the 2026 exploration program at the JD, Theory, and Buck properties, specifically funding an additional 3,000 meters of drilling at the Schmitt Zone. Management highlighted that the initial 10,000-meter drill program is nearly complete ahead of schedule and under budget. The expanded 15,000-meter program is designed to support an inaugural Mineral Resource Estimate (MRE) targeted for Q1 2027.

Eventus Capital Corp. is acting as finder, with a four-month hold period on securities pending TSX Venture Exchange approval.

Sun Summit Minerals Corp. (SMN) has secured financing for a direct follow-up to the fully funded 10,000-meter drill program announced in June 2026. This expansion increases the drill program by 50% ahead of schedule, a move the company states demonstrates management's confidence in the JD project's geological continuity and grade potential. The additional capital is intended to ensure the company can meet its Q1 2027 Mineral Resource Estimate (MRE) target without operational delays.

The financing involves the issuance of up to approximately 32.6 million new shares, based on a pricing range of $0.10 to $0.145 against approximately 320 million outstanding shares. The company describes the dilutive impact as moderate. The news is characterized as incremental, aligning with the company's previously communicated exploration roadmap and lacking unexpected or fundamentally transformative project data.

Sun Summit Minerals Corp. (SMN) is a pre-revenue junior explorer focused on the Toodoggone Mining District in British Columbia, Canada. The company’s flagship JD Project spans over 15,000 hectares and hosts epithermal gold-silver systems and porphyry copper-gold potential. Sun Summit also holds interests in the Theory Project, which targets copper-gold, and the Buck Project, which focuses on copper-molybdenum.

The JD project features a 4.5-kilometer Creek-to-Finn corridor with high-grade historical and recent intercepts, including 81 meters of 4.80 g/t Au at the Creek Zone. The company is advancing toward an inaugural MRE for the JD project, supported by ongoing drilling, geophysics, and metallurgical testing.