SUMMA SILVER CORP - SSVRF STOCK NEWS

Summa Silver Corp. has initiated a 10,000-meter drill program at the Hughes Property in Tonopah, Nevada, focusing on high-grade silver and gold targets. This program includes both reverse circulation and core drilling, expanding on promising results from 2020.

Key findings include high-grade intersections, such as 2,930 g/t silver equivalent over 0.4 m. The company is fully funded with $13.0M in working capital. CEO Galen McNamara emphasizes the potential of the Tonopah Mining District, indicating that further exploration will be needed to assess mineralization scales.

Summa Silver Corp. has announced high-grade silver-gold intersections from its Hughes Property in Nevada, highlighting significant continuity in mineralization across multiple veins. Key assays include 2,995 g/t AgEq from the Rescue vein and promising results from the IOU veins. A follow-up drill program is set to commence shortly, with the company well-funded, boasting $13.2M in working capital. Ongoing exploration includes a LiDAR survey and geological mapping, with assays pending for nine additional holes from 2020.

Summa Silver Corp. announced drilling activities at its high-grade silver-gold Hughes Property in Nevada, set to begin in April 2021. The company has engaged National Drilling EWP to expand on previously reported high-grade silver and gold intercepts. Notably, the 2020 drill program yielded impressive results, including 3,760 g/t silver equivalent over 2.5 m. Summa has approximately $13.5 million in cash, enabling aggressive exploration efforts. However, assay results from 14 out of 29 holes from 2020 remain pending due to lab delays.

Summa Silver Corp. has successfully closed a non-brokered private placement financing, raising $10,168,000 at $1.00 per unit. The offering included a $2,000,000 investment from Eric Sprott. Each unit consists of one common share and half a warrant, exercisable at $1.75 for 24 months. The proceeds will be allocated for exploration and corporate development in high-grade silver districts in the U.S. The company also paid finders' fees totaling $555,100.

Summa Silver Corp. (TSXV: SSVR, OTCQB: SSVRF) announced an increase in its non-brokered private placement to up to 10,000,000 Units at $1.00 per Unit, aiming for $10,000,000 in gross proceeds. Notable participation from Eric Sprott through 2176423 Ontario Ltd is expected. Each Unit comprises one Common Share and one-half Warrant, with a Warrant Share price of $1.75. The Offering is subject to regulatory approval, with closing anticipated around February 16, 2021. Proceeds will fund exploration and corporate development.

Summa Silver Corp. announced a non-brokered private placement financing to raise $8,000,000 through the sale of Units priced at $1.00 each. Each Unit includes one Common Share and half a Warrant, with Warrants exercisable at $1.75 for 18 months. Closing is expected on February 16, 2021, pending regulatory approval. Proceeds will support exploration and corporate development. CEO Galen McNamara emphasized the value of their high-grade silver projects in the U.S. The offering may include finder's fees of up to 6%.

Summa Silver Corp. announced the expansion of its Phase I drill program at the Hughes Property in Nevada to 12,500 metres, following promising results with silver grades reaching up to 3,760 g/t silver equivalent. The company awaits assay results for 13 additional holes and has mobilized a third rig for further drilling. Plans for a Phase II drill program are set to commence in early 2021. The board also approved the grant of 2,235,000 stock options at $1.41 exercise price over five years.

Summa Silver Corp. announced significant high-grade silver and gold discoveries from initial results of its 7,500 m drill program at the Hughes Property in Tonopah, NV. The first three holes revealed impressive assays, such as 3,760 g/t silver equivalent over 2.5 m from hole SUM20-06, indicating strong mineralization in unmined vein extensions around the Belmont Mine. Drilling continues with ten more holes pending, aiming to further explore the potential of the property. CEO Galen McNamara highlighted the importance of these results for shareholders.

Summa Silver Corp. has secured approval for its common shares to trade on the OTCQB Venture Market under the symbol SSVRF. This listing follows their ongoing drill program at the Hughes silver-gold property in Nevada, where twelve drill holes have been completed and two are in progress, totaling approximately 6,200 m drilled out of a planned 7,500 m. Assays for these holes are pending, and the company aims to earn 100% interests in the Hughes property, which was previously a significant silver producer.