Summa Silver Corp. (TSXV: SSVR) (OTCQX: SSVRF) (FSE: 48X) ('Summa' or the 'Company') is pleased to announce results from ongoing data compilation at the Mogollon Project near Silver City, New Mexico (the 'Mogollon Project' or 'Mogollon'), including historic underground rock sampling data completed by previous owners of the project.

These data highlight the expansion and exploration potential of multiple high-grade zones along the Queen Vein.

Key Highlights

Two kilometers of targets have emerged on the Queen Vein where compilation of historic underground sample data from has revealed numerous un-mined zones of high-grade mineralization.

Highlights include grades up to 5,173 g/t silver equivalent (2,398 g/t Ag, 35.3 g/t Au) from the Eberle Mine, up to 2,564 g/t silver equivalent (1,199 g/t Ag, 17.4 g/t Au) from the Deadwood Mine, and up to 382 g/t silver equivalent (92 g/t Ag, 3.5 g/t Au) from the Clifton Adit.

These unmined zones are open to expansion with strong potential for continued high-grade mineralization below and along strike from historic mine workings.

The Mogollon Project continues to feature large-scale discovery potential where the 2 km of mineralized zones discussed in this news release represent less than 3% of the cumulative 75 km of prospective vein and structure length known to be present.

Preparations for a fall drill program at the Mogollon Project are well underway and details will be shared once planning is finalized.

The Company remains well financed with $7.5M in working capital.

Silver equivalent is calculated using US$20/oz Ag, US$1,800/oz Au with metallurgical recoveries of Ag - 90%, Au - 95%. AgEq = (Ag grade x Ag recovery)+((Au grade x Au recovery) x (Au price / Ag price)).

Galen McNamara, CEO, stated: 'At Mogollon, the Queen Vein is now starting to demonstrate its true potential. Of note, both the Deadwood and Eberle mines were only added to the land package relatively recently. Data compilation has now revealed that both mines host significant potential for new discovery along strike and at depth. We look forward to resuming drilling at Mogollon this fall and will provide an update on program details when planning is complete. We also plan to share an update from the Hughes Project in Nevada soon. Drilling at Hughes has been delayed due to mechanical issues, ground conditions and part shortages. However, the final hole of the season remains in progress and delays have been at minimal cost to the Company.'

Mogollon Drill Targets

The north trending Queen Vein has been traced on the Mogollon Project along strike for over 7.5 km and has been the focus of recent drill testing at the Consolidated Mine. Numerous historic mines have also exploited the Queen Vein, however underground developments are relatively small. Historic mines with drill-ready targets include:

Eberle: The Eberle Mine is centered on the structural intersection between the east-west trending Maud S vein and the north-south trending Queen Vein. The mine, approximately 1.3 km south of the Consolidated Mine, was developed on three levels where 10,000 tonnes were reportedly processed prior to 1916. Seven samples, collected over 60 m from the northern extent of the lowest level on the Maud S vein, returned grades of up to 5,173 g/t silver equivalent and average 1,650 g/t silver equivalent1. These high-grade assays highlight the importance of grade controlling structural intersections as well as outline a priority area for follow-up drilling to test for additional un-mined extensions.

About Summa Silver Corp

Summa Silver Corp is a junior mineral exploration company. The Company owns a 100% interest in the Hughes project located in central Nevada and has an option to earn 100% interest in the Mogollon project located in southwestern New Mexico. The high-grade past-producing Belmont Mine, one of the most prolific silver producers in the United States between 1903 and 1929, is located on the Hughes project. The Mogollon project is the largest historic silver producer in New Mexico. Both projects have remained inactive since commercial production ceased and neither have seen modern exploration prior to the Company's involvement.

Contact:

Email: info@summasilver.com

Cautionary note regarding forward-looking statements

The information contained herein contains 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and 'forward-looking information' within the meaning of applicable Canadian securities legislation. 'Forward-looking information' includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved' or the negative connotation thereof. Forward-looking statements in this news release include, among others, statements relating to: the exploration and development of the Company's mineral exploration projects.

Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of the Company, future growth potential for the Company and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on 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. Assumptions have been made regarding, among other things, the price of silver, gold, and other metals; no escalation in the severity of public health crises; costs of exploration and development; the estimated costs of development of exploration projects; the Company's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect the Company's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company's mining activities; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; the ongoing military conflict in Ukraine; general economic facts; and the factors identified under the caption 'Risk Factors' in the Company's management discussion and analysis and other public disclosure documents.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

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