Summa Silver Corp. Obtains DTC Eligibility for Its Common Shares Enhancing Investor Access in the United States

Rhea-AI Summary

Summa Silver Corp. announces that its common shares are now eligible for electronic clearing through the Depository Trust Company (DTC) in the U.S. This move is expected to enhance liquidity and improve accessibility for U.S. investors. As part of ongoing drilling at the Hughes silver-gold property in Nevada, 10 drill holes have been completed with all assays pending. Approximately 5,200 meters have been drilled out of a planned 7,500 meters. CEO Galen McNamara emphasizes that DTC eligibility will facilitate investment from U.S. retail and institutional investors.

Positive

• Common shares are now DTC eligible, enhancing investor access in the U.S.
• Drilling at Hughes property in Nevada shows promise with significant meterage completed.

Negative

• All assays remain pending, introducing uncertainty regarding drill results.

-Drill Program On-Going at the Hughes silver-gold property in Nevada-
-All Assays Pending-

VANCOUVER, BC, Sept. 16, 2020 /PRNewswire/ - Summa Silver Corp. ("Summa" or the "Company") (CSE: SSVR) (OTC Pink: SSVRF) (Frankfurt:48X) is pleased to announce that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (DTC) in the United States.

To date, ten drill holes have been completed at the Hughes silver-gold property and two are in progress with two core rigs in full operation. Approximately 5,200 m have been drilled in completed holes out of a planned 7,500 m. All holes drilled to date have intersected zones of quartz veins, stockworks and breccias. All assays remain pending.

Galen McNamara, CEO, stated: "As we aggressively push forward with drilling at the Hughes silver-gold Property in the famous historic Tonopah mining district of central Nevada, we expect the DTC eligibility of our common shares will improve access for U.S. based retail and institutions to invest in Summa Silver."

DTC is a subsidiary of the Depository Trust & Clearing Corp., a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be "DTC eligible". DTC eligibility is expected to create a seamless process of trading and enhance liquidity of the Company's common shares in the United States over time.

Qualified Person

The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., the CEO of the Company and a qualified person as defined by National Instrument 43-101.

About Summa Silver Corp
Summa Silver Corp is a Canadian junior mineral exploration company. The Company has options to earn 100% interests in the Hughes property located in central Nevada and 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 mine has remained inactive since commercial production ceased in 1929 due to heavily depressed metal prices and little to no modern exploration work has ever been completed.

Follow Summa Silver on Twitter: @summasilver

ON BEHALF OF THE BOARD OF DIRECTORS
"Galen McNamara"
Galen McNamara, Chief Executive Officer
info@summasilver.com
www.summasilver.com

Investor Relations Contact:
Kin Communications
Arlen Hansen
604-684-6730
SSVR@kincommunications.com

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking statements and information include, but are not limited to, statements in respect of the Offering including the proposed use of proceeds and receipt of regulatory and stock exchange approvals.

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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SOURCE Summa Silver Corp.

FAQ

What does DTC eligibility mean for Summa Silver Corp (SSVRF)?

DTC eligibility allows Summa Silver's shares to be electronically cleared and settled, enhancing liquidity and investor access in the U.S.

What is the current status of drilling at the Hughes silver-gold property for SSVRF?

As of the latest update, 10 drill holes have been completed with 5,200 meters drilled out of a planned 7,500 meters.

When was the press release about Summa Silver Corp's DTC eligibility issued?

The press release was issued on September 16, 2020.

What can investors expect from the ongoing drilling at the Hughes property?

Investors should monitor for assay results, which are pending, and gauge the potential findings from the drilling.

Who is the CEO of Summa Silver Corp?

The CEO of Summa Silver Corp is Galen McNamara.