Ann: Summit Acquires Key Strategic Ground at Equador Project, page-4

Trenching and drilling permits later this month!

• One of the newly acquired tenements (848283/1999), adjoins Summit’s Equador Niobium
and Tantalum Project, where exploration work is ongoing.
• Tenement 848283/1999 (Equador North) was a key strategic priority for Summit to
acquire as it is an existing mining lease situated to the north of and adjoining Summit’s
100% owned Equador Niobium and Tantalum Project in Brazil (Figure 1).
• Summit’s internal studies indicate that the Equador North tenement is likely a
continuation of the geology from the existing Equador project.
• Settlement of the additional tenements are expected in October 2024 with exploration
works to commence on them immediately thereafter.
• The LiDAR survey on the Equador Project has now been completed with interpretation
now underway and results to follow shortly.
• Magnetic survey contractors have been engaged with a survey over the Project expected
to begin this month.
• Trenching and drilling permits are advancing well and expected to be issued during this
month, with drilling to be targeted based on recent exploration results coupled with the
LiDAR and magnetic survey interpretation.