Sun Summit Minerals: Advancing District-scale Gold and Copper Projects in

“We are thrilled with the strong interest from investors and the resulting upsizing of the financing from $3.5 million to $10 million,” said Niel Marotta, CEO of Sun Summit. “These funds will support a 5,000-metre drill program at JD this summer, which is double what we completed during our inaugural season in 2024. The program will focus on the highly-prospective Creek-to-Finn corridor, where we aim to expand the footprint of known mineralization along strike at the Creek and Finn targets as well as testing new targets within and outside the corridor. Corporate activity across the Toodoggone has accelerated in 2025, reinforcing the district’s strong potential. It’s an exciting time for Sun Summit: We are well funded and ready to build on last season’s momentum with an aggressive exploration program in one of Canada’s most active and promising regions.”

Each Charity FT Unit consisted of one charity-flow-through common share in the capital of the Company (each, a “Charity FT Share“) and one common share purchase warrant (each, a “Charity FT Warrant“) that each qualify as a flow-through share within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act“).

Each FT Unit consisted of one common share in the capital of the Company (each, an “FT Share“) and one-half of one common share purchase warrant (each whole warrant, an “FT Warrant“) that each qualify as a flow-through share within the meaning of the Tax Act.

Each NFT Unit consisted of one non-flow-through common share in the capital of the Company (each, a “Common Share“) and one Common Share purchase warrant (each, an “NFT Warrant“).

Each Charity FT Warrant, FT Warrant and each NFT Warrant entitles the holder thereof to acquire one Common Share at a price of $0.11 per share until May 30, 2027.

The Company intends to use 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, and for general working capital purposes, provided that the Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Tax Act.

In connection with the Private Placement, the Company paid aggregate cash finder’s fees of $304,749, of which $112,456 was settle by way of issuing 1,606,515 NFT Units, and granted an aggregate of 4,040,736 non-transferable finder warrants of the Company (each, a “Finder Warrant“) to arm’s length finders of the Company in connection with the Private Placement. Each Finder Warrant entitles the holder thereof to purchase one Common Share of the Company, at an exercise price of $0.11 per share until May 30, 2027.

The Private Placement is subject to the final approval of the TSX Venture Exchange (the “TSXV“). The securities issued in the Private Placement are subject to a hold…