Vancouver - Summa Silver Corp. (TSXV: SSVR) (OTCQB: SSVRF) (FSE: 48X) ('Summa' or the 'Company') announces high-grade silver and gold drill results from the Mogollon Property near Silver City, New Mexico and the commencement of a significant drill program at the Hughes Property near Tonopah, Nevada.

The Company also provides an update on its operations at the Mogollon Property.

Queen Vein of the past producing Consolidated Mine, Mogollon Property

11.6 m at 450 g/t silver equivalent (2.7 g/t Au, 220 g/t Ag) including 0.9 m at 1,940 g/t silver equivalent (11.35 g/t Au, 975 g/t Ag) in MOG22-04 where total grade thickness through all mineralization is 5,343 g/t AgEqm.

13.6 m at 220 g/t silver equivalent (1.4 g/t Au, 105 g/t Ag) and 4.2 m at 326 g/t silver equivalent (2.23 g/t Au, 137 g/t Ag) plus additional zones in MOG21-01 where total grade thickness through all mineralization is 6,225 g/t AgEqm.

7.1 m at 279 g/t silver equivalent (2.07 g/t Au, 103 g/t Ag) and 8.0 m at 197 g/t silver equivalent (1.32 g/t Au, 85 g/t Ag) plus additional zones in MOG21-02 where total grade thickness through all mineralization is 4,522 g/t AgEqm.

Assays Pending: Assay results from holes MOG22-05 and MOG22-06 remain pending. Both holes intersected significant zones of quartz-carbonate veins, stockworks, and breccias commonly featuring visible silver sulfide minerals. This is a strong indication that the core is mineralized.

Open in all Directions: The newly drilled mineralized zone remains open to expansion in all directions.

Aggressive Drill Plan: The Company anticipates that a minimum of 25,000 m of drilling at Consolidated in 50 holes is necessary for a spacing of approximately 50 m between holes covering an area of approximately 500 x 300 m in order to publish its first resource estimate.

Galen McNamara, CEO, stated: 'It comes as no surprise that results from the first set of holes at Mogollon have confirmed high grade silver mineralization around the old Consolidated Mine. I'd like to emphasize that these are only the first few holes ever drilled by Summa at Mogollon. With over 34 km of identified strike potential, these assays truly prove that Mogollon is as exciting as our Hughes project in Nevada. Summa now has two high-grade silver projects, both of which we believe will prove to be very exciting as we continue to define the extent of the mineralization via aggressive drilling. With the completion of the recent $11.5M financing, we are well funded to execute on that plan and create shareholder value.'

Mogollon Operational Update

Based on the positive results to date, and as a condition of our permit, Summa Silver paused exploration on March 1, 2022, to conduct a survey of the Mexican Spotted Owl, expanding on the initial survey work the company completed in September 2021. The pause in drilling will allow the bird survey to be completed in an uninterrupted manner over approximately 90 days.

The Company is also awaiting assay results from two additional holes which are expected within the next 30 to 60 days. This pause in drilling activity will be used to refine and improve the geological model to maximize the effectiveness of further drilling.

Drilling Commences at the Hughes Property in Nevada to Focus on Step-out and Definition Drilling

Drilling Started at the Hughes Property: One diamond drill rig is currently in operation with a second rig mobilizing to site.

Program to Focus on Resource Drilling: The priority targets are the Murray and Belmont areas, where previous drilling intersected strong mineralization. Approximately 10,000 m of drilling is planned at Hughes.

About Summa Silver Corp

Summa Silver Corp is a Canadian junior mineral exploration company. The Company owns a 100% interest in the Hughes property located in central Nevada and has an option to earn 100% interest in the Mogollon property located in southwestern New Mexico. The Hughes property is host to the high-grade past-producing Belmont Mine, one of the most prolific silver producers in the United States between 1903 and 1929. The Mogollon property is the largest historic silver producer in New Mexico.

Contact:

Giordy Belfiore

Tel: 604-684-6730

Email: SSVR@kincommunications.com

Cautionary note regarding forward-looking statements

This news release contains certain 'forward-looking statements' and certain 'forward-looking information' as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as 'may', 'will', 'should', 'expect', 'intend', 'estimate', 'anticipate', 'believe', 'continue', 'plans' or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. These forward looking statements or information relate to, among other things: the release of assays; the exploration and development of the Company's mineral exploration projects including completion of surveys and drilling activities and the completion of the Mexican Spotted Owl Survey.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets as a result of the current COVID-19 pandemic; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions and other related risks and uncertainties.

Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

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