Sun Summit plans $4M private placement to extend JD drill program

Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) announced a non-brokered private placement of up to $4 million to fund an expanded 2026 drill program at its JD Project in British Columbia.

The offering consists of charity flow-through common shares priced at $0.145 each and non-flow-through common shares at $0.10 each. Proceeds will be directed toward exploration of the company's JD, Theory, and Buck properties, with flow-through share proceeds designated for eligible Canadian exploration expenses under the Income Tax Act (Canada).

The company said it has nearly completed a 10,000-meter drill program at the JD Project ahead of schedule and under budget. The new financing is intended to fund an additional 3,000 meters of drilling at the Schmitt Zone, which combined with a planned 2,000-meter extension at the Creek and Finn areas, would bring the total 2026 program to 15,000 meters.

"The Schmitt Zone is located west of and contiguous to the Finn Zone within the 4.5-kilometer Creek-to-Finn corridor. This drill program is designed to evaluate mineralization continuity to the west of the Finn Zone, with the potential to add ounces to our inaugural MRE targeted for Q1 2027," said Niel Marotta, CEO of Sun Summit Minerals.

The closing of the private placement is subject to approval from the TSX Venture Exchange. Securities issued will be subject to a four-month hold period. Eventus Capital Corp. has been appointed as a finder in connection with the placement, with finder's fees payable in cash or securities pending regulatory approval.

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