Sun Summit Announces Closing of $4 Million Non-Brokered Private Placement

Sun Summit Minerals Corp. has closed a non-brokered private placement, raising $4,000,000 in gross proceeds. The offering consists of 20,689,656 charity flow-through common shares priced at $0.145 per share and 10,000,000 non-flow-through common shares priced at $0.10 per share. Proceeds are designated for the exploration of the JD, Theory, and Buck properties, with flow-through proceeds allocated to eligible Canadian exploration expenses.

Finder fees of $110,850 were paid via cash and securities, including 1,108,500 non-transferable warrants exercisable until August 26, 2028. Concurrently, 11,250,000 stock options were granted to directors, officers, and consultants at an exercise price of $0.15 per share, subject to TSXV approval. Securities are subject to a hold period expiring on December 27, 2026, pending final TSX Venture Exchange approval.

Sun Summit Minerals Corp. (SMN) closed a $4 million placement immediately following its August 6 and 7 announcements regarding the financing arrangement. The capital will expand the 2026 JD drill program from 10,000 meters to 15,000 meters. This incremental follow-up to previously announced operational plans does not introduce new strategic shifts or unexpected market-moving information.

The financing enables the company to execute the expanded drilling campaign at the Creek, Finn, and Schmitt zones. This work is critical for targeting the inaugural Mineral Resource Estimate (MRE) slated for Q1 2027. While dilutive, the capital raise is routine for a pre-revenue explorer advancing a major drill program. The terms ($0.145 FT / $0.10 NFT) are consistent with recent market pricing and prior financings.

The news aligns with previous expectations and management guidance. It removes execution risk regarding funding but does not alter the fundamental exploration thesis or valuation drivers.

Sun Summit Minerals Corp. is a pre-revenue exploration company focused on the Toodoggone Mining District in British Columbia. Its flagship JD Project covers over 15,000 hectares and hosts epithermal gold-silver systems at the Creek and Finn zones, alongside porphyry copper-gold potential at the Belle South target. The Creek-to-Finn corridor spans 4.5 kilometers.

The company also holds secondary projects, including the 9,676-hectare Theory Project, which focuses on copper-gold-silver and has yielded high-grade grab samples from the Saboteur and Fred-DM-DMR zones, and the 52,000-hectare Buck Project, which targets copper-molybdenum porphyry mineralization. Sun Summit is advancing toward an inaugural Mineral Resource Estimate for the JD Project, targeting Q1 2027.