Sun Summit Minerals Corp. (TSX-V: SMN) (OTCQB: SMREF) is pleased to announce that it has closed its non-brokered private placement previously announced in the Company’s news release on August 6, 2026, through the issuance of: (i) 20,689,656 charity flow-through common shares in the capital of the Company at a price of $0.145 per Charity FT Share; and (ii) 10,000,000 non-flow-through common shares in the capital of the Company at a price of $0.10 per NFT Share, for aggregate gross proceeds to the Company of $4,000,000.

The Charity FT Shares qualify as a flow-through share within the meaning of subsection 66(15) of the Income Tax Act (Canada).

The Company intends to use all of the gross proceeds of the Private Placement for exploration of the Company’s JD, Theory and Buck properties and any other Canadian properties that the Company may acquire, provided that the Company will use an amount equal to the gross proceeds received by the Company from the sale of the Charity FT Shares to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Tax Act, and as “BC flow-through mining expenditures” as set forth in subsection 4.721(1) of the Income Tax Act (British Columbia).

In connection with the Private Placement, the Company paid aggregate finder’s fees of $110,850 ($50,700 of which through the issuance of 507,000 NFT Shares at a price of $0.10 per NFT Share), and granted an aggregate of 1,108,500 non-transferable finder warrants of the Company to arm’s length finders of the Company, comprised of: (i) 925,500 Finder Warrants in respect of the Charity FT Shares, each exercisable to purchase one common share in the capital of the Company at a price of $0.145 per Common Share; and (ii) 183,000 Finder Warrants in respect of the NFT Shares, each exercisable to purchase one Common Share at a price of $0.10 per Common Share. Each Finder Warrant is exercisable until August 26, 2028.

The Private Placement is subject to the final approval of the TSX Venture Exchange. The securities issued in the Private Placement are subject to a hold period expiring on December 27, 2026, in accordance with applicable securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.

Option Issuance

The Company also announces that it has, subject to approval of the TSXV, granted an aggregate of 11,250,000 stock options of the Company to certain directors, officers and consultants of the Company, in accordance with the rules of the TSXV and the Company’s stock option plan. Each Option entitles the holder thereof to acquire one Common Share at an exercise price of $0.15 per Common Share for a period of five years from the date of issuance.

About Sun Summit

Sun Summit Minerals is a mineral exploration company focused on the discovery and advancement of district scale gold and copper assets in British Columbia. The Company’s diverse portfolio includes the JD and Theory Projects in the Toodoggone region of north-central B.C., and the Buck Project in central B.C.