Vancouver, British Columbia--(Newsfile Corp. - January 29, 2025) - Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) is pleased to announce the appointment of Mr. Niel Marotta as the Company's new Chief Executive Officer ("CEO") and Director, effective immediately. The Company also announces that Ms. Sharyn Alexander will step down as President and transition into a new role as Project Advisor, where she will continue to contribute her expertise to project planning and strategic decision-making.
Ms. Alexander joined Sun Summit in 2019 as VP of Technical Services and was appointed President in 2021. During her tenure, she played a pivotal role in advancing the Company's projects in British Columbia's highly prospective mining regions, building strong relationships within the industry, and strengthening the Company's technical capabilities. Her leadership has been instrumental in positioning Sun Summit for future growth, and the Board of Directors extends its heartfelt appreciation for her dedication and achievements.
The appointment of Mr. Marotta marks an exciting new chapter for Sun Summit. Mr. Marotta brings an exceptional track record of leadership, investment expertise, and entrepreneurial success. He was a top-performing fund manager at Fidelity Management and Research Company (FMR Co.) in Boston, where he managed a portfolio of over $1 billion across several industries, including the Fidelity Select Gold Portfolio, a precious metals equity focussed fund. Mr. Marotta also served as Vice President of Orezone Resources, and was instrumental in its $350 million acquisition by Iamgold in 2009. Subsequently, he worked as an investment banker and entrepreneur, has been involved in financings and M&A transactions exceeding $1 billion, and was a co-founder and served as CEO of Indiva. Mr. Marotta is a graduate of McGill University with a Bachelor of Commerce with Distinction. Included in Mr. Marotta's volunteer activity has been work with the Telfer School Capital Markets Mentorship Program.
"I am very excited to work with the deeply experienced board, advisory team, and strong technical team at Sun Summit Minerals. The Toodoggone district in mining-friendly northern British Columbia is quickly becoming one of the most prolific exploration areas in Canada. Sun Summit's JD and Theory properties are strategically located and have the identical geological prowess of neighboring properties where recent discoveries are prominent. This provides an immediate opportunity to enhance shareholder value," said Niel Marotta. "The outlook for precious metals prices remains very positive, and the divergence between rising gold prices and the valuations of precious metals equities has never been greater, further reinforcing the opportunity to create value for Sun Summit shareholders."
"On behalf of the Board of Directors of Sun Summit Minerals, I would like to welcome Niel in his appointment as CEO and Director," said Brian Lock, Executive Chairman of Sun Summit. "We believe the timing of the appointment is at a perfect junction given the excitement surrounding the recent discoveries in the Toodoggone area of B.C. coupled with the high-grade gold discovery at our JD property late 2024. We expect an aggressive exploration program this year spearheaded by our excellent geological team."
Sun Summit remains committed to delivering value to its shareholders by advancing its portfolio of high-potential exploration projects in British Columbia. The Board is confident that with Mr. Marotta's leadership, supported by the strong technical and advisory teams, the Company is well-positioned to capitalize on growth opportunities and continue its trajectory of success.
About the JD Project
The JD Project is located in the Toodoggone mining district in north-central British Columbia, a highly prospective deposit-rich mineral trend. The project covers an area of over 15,000 hectares and is in close proximity to active exploration and development projects, such as Thesis Gold's Lawyers and Ranch projects, TDG Gold's Baker-Shasta projects, HDI Amarc's Aurora discovery, Centerra's Gold's Kemess East and Underground projects, as well as the past-producing Kemess open pit copper-gold mine.
The project is 450 kilometres northwest of the city of Prince George, and 25 kilometres north of the Sturdee airstrip. It is proximal to existing infrastructure in place to support the past-producing Kemess mine, including roads and a hydroelectric power line.
The JD Project is in a favourable geological environment characterized by both high-grade epithermal gold and silver mineralization, as well as porphyry-related copper and gold mineralization. Some historical exploration, including drilling, geochemistry and geophysics, has been carried out on the property, however the project area is largely underexplored.
About the Buck Project
The 100% owned Buck Project is situated in a historic mining district near Houston, B.C., with excellent nearby infrastructure that allows for year-round, road-accessible exploration. The project is 60 kilometres southeast of Smithers and is located west of the past producing Equity Silver Mine (Newmont) and north of the Huckleberry copper mine (Imperial Metals).
The project is host to the Buck Main intermediate-sulfidation, epithermal-related, gold-silver-zinc system characterized by continuous zones of disseminated and breccia-hosted, bulk tonnage-style mineralization. Vein-hosted, high-grade mineralization has also been intersected near the center of Buck Main.
Exploration at the Buck Project is focused on investigating the lateral and vertical extent of gold-silver-zinc mineralization at the Buck Main system, and also defining additional drill targets across the entire land package through systematic exploration programs.
About Sun Summit
Sun Summit Minerals (TSXV: SMN) (OTCQB: SMREF) is a mineral exploration company focused on expansion and discovery of district scale gold and copper assets in British Columbia. The Company's diverse portfolio includes the JD Project in the Toodoggone region of north-central B.C., and the Buck Project in central B.C.
Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management's assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, potential mineralization, exploration plans, and engagement with First Nations communities. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: risks inherent in exploration activities; the impact of exploration competition; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
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