Substantial Visible Mineralization At The Queen Vein

VANCOUVER - Summa Silver Corp. reported on the on-going drilling at the high-grade silver-gold Mogollon Property, near Silver City, New Mexico. Five More Holes Intersect the Queen Vein: All six holes drilled so far have intersected 17-50 m zones of intermittent quartz-carbonate veining and brecciation with local concentrations of silver-bearing sulfides. Two rigs are currently drilling at the Consolidated Extension target where the Company anticipates that a minimum of 25,000 m of drilling in 50 holes is necessary for a spacing of approximately 50 m between holes covering an area of approximately 500 x 300 m. This first target represents only 1.5% of the total vein and structure strike length present on the property. Two additional diamond drill rigs are currently mobilizing to Tonopah, Nevada where drilling will begin immediately. Further details on this program with be announced announced shortly.

Galen McNamara, CEO, said, "We are off to a strong start at Mogollon and the team is excited to continue testing the Queen Vein around the old Consolidated Mine where visual results so far have suggested the presence of significant mineralized zones. Meanwhile at the Hughes Project, drilling is scheduled to begin shortly. At both projects, drilling will be concentrated on testing veins with known high-grade mineralization, mostly on a step-out basis. We look forward to releasing assay results from both projects as they become available."

The focus of the ongoing drill program is testing un-mined extensions of the Consolidated Mine, centered on the north-trending, epithermal-related Queen Vein (see October 15th, 2021 News Release). Holes on 50 to 100 meter centers are designed to systematically test the lateral and vertical continuity of mineralization over a strike-length of approximately 500 meters and near-vertical, down-dip extent of over 300 meters beginning at approximately 130 meters below surface.

Holes MOG21-02, 03, 04 and 06 targeted the extension of structurally-controlled, vein-hosted mineralization south of the historic Consolidated stopes whereas hole MOG21-05 tested the extension of mineralization north of the stopes.

Broad zones (up to 50 meters) of epithermal-related alteration, veining, brecciation and mineralization, cored by the Queen Vein, was intersected in all holes. Hole MOG21-03 was terminated in mineralization due to the intersection of historic workings after unexpected and strong deviation of the hole during drilling. The hanging wall to the Queen Vein consists of silicified and brecciated andesite and rhyolite cut by zones of colloform-banded chalcedonic quartz veins increasing in frequency with depth towards to the Queen Vein. The Queen Vein is highly-complex with evidence for multiple epithermal-related fluid events that formed calcite + quartz veins, quartz-rich breccias with bladed quartz, colloform banding and local silver-bearing sulfides. The footwall to the Queen Vein consists of intensely silicified and brecciated andesite with locally abundant silver-bearing sulfides as disseminations and banded within chalcedony-rich veins.

Lithological and structural data from these holes and subsequent holes are also being incorporated into the geological model to help target high-grade zones along the vein system.

Drill core from holes MOG21-01 to MOG22-04 have been sampled and dispatched to Paragon Geochemical in Sparks, NV for assay analyses. Drill core from holes MOG22-05 and MOG22-06 are currently being processed at site and prepared for shipment.