Significant Expansion At The High-Grade Hughes Property

VANCOUVER - Summa Silver Corp. CEO, Galen McNamara, said, “The Company has acquired an additional 1,446 acres of mineral rights contiguous with the Hughes Property near Tonopah, Nevada via claim staking. The acquisition of this new group of claims continues to solidify our land position in this classic American mining district. With the recent purchases first of the Bullfrog district and then the Goldfield district by major mining companies, there are now very few historic districts like Tonopah remaining in the hands of junior mining companies in Nevada. We believe strongly that the potential for new discoveries immediately surrounding the Tonopah area remains high, and we plan to aggressively pursue our targets soon."

The new claims were strategically acquired via claim staking to cover key areas of previously reported open-ended high-chargeability IP (induced polarization) anomalies and path-finder element soil geochemical anomalies. The claims are underlain by a thin veneer of young Red Mountain volcanic rocks with numerous erosional windows into older prospective Seibert Formation and Fraction volcanics, host to regionally important gold deposits. Exploration will focus on these rocks by defining the limits of the strong IP and geochemical targets identified in previous programs. The northeast extent of many of the anomalies are open for expansion towards and into the newly acquired claims. IP lines are planned to extend the 2021 grid to the northeast and soil-geochemical surveys are planned to investigate the extent of the strong multi-element anomalies, interpreted to be locally associated with Seibert and Fraction volcanics. Detailed prospecting and geological mapping are also planned to systematically assess the older rocks for alteration and mineralization. These new data will be used to advance the property-wide exploration model with the aim of developing new drill targets.