Summa Silver - SSVRF STOCK NEWS

Summa Silver Corp (TSXV: SSVR) (OTCQX: SSVRF) has announced its fourth annual payment under two amended mining lease agreements for the Mogollon project near Silver City, New Mexico. The company will issue 112,324 common shares at a deemed value of $0.3516 per share, based on the 20-day volume weighted average price on the TSXV.

The amended lease agreements, which allow Summa to lease certain mining claims at Mogollon, have a 10-year term with renewable 10-year extensions at the company's discretion. Annual payments include aggregate cash payments of US$99,067, indexed to the Production Price Index for Industrial Commodities. Summa has the option to pay US$27,018 (PPI-indexed) of the annual amount through common share issuance, subject to TSXV policies.

Summa Silver Corp. (SSVR) has filed technical reports for its two 100% owned US silver projects, detailing mineral resource estimates. The Hughes Project in Nevada shows:

• Indicated Resources: 10.26M silver equivalent ounces (5.81M oz silver, 0.05M oz gold) at 333 g/t AgEq
• Inferred Resources: 32.91M AgEq (15.91M oz silver, 0.19M oz gold) at 421 g/t AgEq
• Tailings Resources: 2.74M AgEq (1.79M oz silver, 0.011M oz gold) at 68 g/t AgEq

The Mogollon Project in New Mexico contains Inferred Resources of 32.08M AgEq (12.12M oz silver, 0.24M oz gold) at 367 g/t AgEq. Calculations use silver at $25/oz and gold at $2100/oz, with recovery rates of 90-97%.

Summa Silver Corp. (SSVR) has acquired the Kennedy Project in Pershing County, Nevada through claim staking, consisting of 99 mineral claims covering approximately 2,000 acres. The project is 100% owned by the company and royalty-free.

The Kennedy Project covers a historic mining district with reported high grades of 15 g/t Au and 311 g/t Ag from past surface oxide mining between 1891 and World War II. The property features approximately 22 km of unmined veins that have not undergone modern exploration.

The company views Kennedy as a potential 1M ounce near-surface gold target. While maintaining focus on its Hughes and Mogollon projects, Summa Silver plans a multi-disciplinary exploration program at Kennedy, including geological mapping, soil sampling, and IP geophysics, with drill testing planned for early 2026.

Summa Silver Corp (TSXV: SSVR) (OTCQX: SSVRF) has announced the approval of 2,400,000 incentive stock options granted to officers, directors, and consultants of the company. The options come with specific terms: they will vest over a two-year period from the grant date, can be exercised at $0.40 per share, and will expire on January 24, 2030.

Summa Silver Corp. (SSVR) has announced its first mineral resource estimates for two US silver projects. The Hughes Project in Nevada shows Indicated Resources of 10.47M silver equivalent ounces (AgEq) at 332 g/t AgEq and Inferred Resources of 33.42M AgEq ounces at 418 g/t AgEq, plus additional 2.74M AgEq ounces in tailings. The Mogollon Project in New Mexico contains Inferred Resources of 32.08M AgEq ounces at 367 g/t AgEq.

Both projects demonstrate significant expansion potential, with Hughes featuring a 4km unexplored extension of the Tonopah Mining District, and Mogollon covering only 2.4km of 77km of known vein structure. The company's drilling discovery costs average $0.29 per AgEq ounce, with each drill hole adding an average of 915,291 AgEq ounces to inventory. Step-out drilling is currently underway at Hughes Project.

Summa Silver Corp. (SSVR) announces plans to release inaugural mineral resource estimates (MREs) for its Hughes Project in Nevada and Mogollon Project in New Mexico in early 2025. The MREs will be based on approximately 40,000m of drilling from 60 holes at Hughes and 22 holes at Mogollon.

Key highlights include verification of historic drill data, excellent metallurgy with high recovery rates (90-98% for silver and gold), and significant drill intersections including up to 3,912 g/t AgEq over 2.8m at Hughes and 1,133 g/t AgEq over 1.65m at Mogollon. The company has also completed four RC pre-collars at the Ruby Discovery with ongoing core drilling.

The MREs will be completed by RESPEC, the same firm that completed the resource estimate for neighboring Blackrock Silver's Tonopah West Deposit.

Summa Silver Corp. (SSVR) has initiated exploration drilling at the Hughes Project in Tonopah, Nevada. The program includes up to 7,000 meters of combined reverse circulation and diamond drilling, focusing on the Ruby and Sapphire discoveries located 1.3 to 4.2 km east of the Tonopah Mining District.

Previous drilling at Ruby yielded significant results, including 1,450 g/t silver equivalent over 3.0m in SUM23-59. The company is fully funded for this program following a recent $6.5M financing. The drilling aims to test mineralization extension and continuity with holes spaced approximately 85m apart along the projected Ruby vein-system.

Additionally, the company reported that during the quarter ended November 30, 2024, it issued 501,500 Common Shares at an average price of $0.4184 through its ATM program, generating gross proceeds of $212,924.85.

Summa Silver Corp (SSVR) has announced plans for a 7,000-meter drill program at its Hughes Project in the Tonopah Mining District, Nevada. The program will focus on the Ruby and Sapphire discoveries, located 1.3 to 4.2 km east of the historic district. Previous drilling revealed significant results, including 1,450 g/t silver equivalent over 3.0m. The company is fully funded following a recent $6.5M financing, with drilling scheduled to begin in December. The program aims to test mineralization continuity across 600m eastward from Ruby using reverse-circulation pre-collared holes completed through core drilling.

Summa Silver Corp (TSXV: SSVR) (OTCQX: SSVRF) has completed a brokered financing raising $6.48 million through a combined Listed Issuer Financing Exemption and private placement. The offering consisted of units priced at $0.40 each, with each unit comprising one common share and half a warrant. Each whole warrant is exercisable at $0.55 until November 1, 2026. The offering included 12.5 million LIFE units and 3.7 million Accredited Investor units. The company paid agents a cash commission of $399,525 and issued 998,813 broker warrants. Proceeds will fund exploration work and general working capital.