Summa Silver Corp. provided assay results from its first drill hole completed during the winter drill program at the high-grade silver-gold Mogollon Project, New Mexico (the "Mogollon Project"). First hole at the South Queen target intersected mul ple zones of strong epithermal-related silver-gold mineraliza on, highlighted by: 393 g/t silver equivalent (64 g/t Ag, 3.9 g/t Au) over 7.4 m from 242.4 m down hole (60 m ver cal depth), including 2,735 g/t silver equivalent (320 g/t Ag, 28.6 g/t Au) over 1.5 m, and o 357 g/t silver equivalent (186 g/t Ag, 2.2 g/t Au) over 0.9 m from 201.2 m down hole.

Between Two Historic Producers: The newly intersected mineralized zone is located between the recently acquired Deadwood and Eberle mines, both of which were only mined at shallow- levels and remain untested at depth. Addi onal Explora on Upside: Results support the high-prospecity of the en Queen Vein where mineraliza on is open along-strike and down-dip warran ng systema follow-up drilling. Assays Pending: Drilling is now complete with results pending from two holes that tested for mineraliza on along-strike and below the Eberle Mine.ogollon Explora on Drill Program.

The winter drill program at the Mogollon Project was designed to test the silver and gold poten all of zones along the north-striking Queen Vein. The targets (South Queen and Eberle) are the result of extensive data compila on efforts which have evolved over several years and are designed to maximize discovery poten al. In a public hearing held on February 15, 2024 in Santa Fe the New Mexico Mining Commission (the "Commission") voted unanimously (6-0) to affirm the Company's Part 3 Minimal Impact Explora on Permit (the "Permit").

The Commission acts as the rulemaking andadministra ve review body for the 1993 New Mexico Mining Act (the "Mining Act"). The hearing on February 15, 2024 was held to address complaints made by a private zen who alleged that the Mines and Minerals Division of the Energy, Minerals and Natural Resources Department of New Mexico (the "MMD") failed to issue correct maps of the area permited for explora on when grang the Permit. The decision affirms the Permit and associated Findings of Fact made by the Director of the MMD which include, among other things, that the Mogollon Project is unlikely to have adverse impacts on threatened or endangered species, water resources or cultural resources.

Drill core was sawn in half at Summa's Permit. Drill core was saw in half at Summa's first hole was sawn in half atSumma Silver Corp. (the "MMD") was held to address complaint made by a private company who reported that the Mines and Minerals Department of New Mexico (the 'MMD') failed to issue correct map of the area permited for Explora on when grana the Permit.