Company Information for Gold Summit Corp

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Company Statement

Gold Summit Corporation is a TSX-V listed junior exploration company that, using its considerable technical experience, searches for high grade, underground, gold/silver targets in the USA. Ultimately, shareholder value is created by discovery of high quality, low cost resources by drilling carefully selected targets.

Underground high grade gold/silver targets were largely ignored in the modern exploration era in favor of large, low grade deposits, and are under-explored. Apart from superior economics, underground mines have a smaller environmental footprint and are more socially acceptable.

Over the past three years the company has assembled an enviable portfolio of epithermal, bonanza drill targets in Nevada and has a small discovery on its Monte Cristo property to its credit. Recently, it has expanded its geographical reach to the gold rich Carolina Slate Belt where no underground exploration has taken place since the mid 1800’s.

Current Operations

Gold Summit Corporation currently has operation in the following properties:

Nevada
Monte Cristo
Blue Sphinx
Gold Basin
Gold Springs
San Francisco


The Monte Cristo gold-silver property is the most advanced of Gold Summit’s properties. The property is located in the historic Gilbert Mining District and has been the focus of most of the exploration to date by Gold Summit. Drilling has resulted in a resource estimate of 69,000 oz. on the McLean Lode, a zone of episodic veining and brecciation with high-grade gold and silver. This lode occurs along an 11 km long mineralized structural zone. Initially two properties were acquired in 2002 for a low purchase price and Net Smelter Return (NSR) royalties of 3-4%, of which all but 1% can be bought for $6 million. In mid-2006, an agreement was reached to obtain a 60% interest in the southern extension of the district for 750,000 Gold Summit shares and expenditures of $1.2 million over five years, which can be increased to 70 and 80% by completing a feasibility study and placing a mine into production, respectively.

More recently, Gold Summit has been exploring the southern end of the district where surface alteration and veining similar to that on the McLean Lode is exposed. Past drilling in some of these areas includes four RC holes with up to 2.1 g/t Au over 17 m. Gold Summit plans to start drilling these targets upon completion of consolidation of the historical data and receipt of the necessary permits.

North/South Carolina
Saluda
A recently leased private tract covers an area of alteration and a prominent Au soil anomaly with a shallow working exposing a prominent quartz vein. Quartz float boulders with visible Au, confirmed by assay, surround a shallow working of early 1800 vintage. The massive exposed quartz vein is a ready drill target.

Bear Creek
Gold and copper occurrences are known over 300km2 with an alteration trend extending over 6.5km. Previous work has produced five soil anomalies with values ranging between 30 and 8500 ppb Au. On one land parcel, visible gold in greenstones was found on dump samples from a shallow decline shaft of early 1800 vintage. Leasing of mineral and surface rights from private landowners is underway.

Geographical Spread

Nevada

Board of Directors and Key Management

Broker/Analyst Reports

18/04/07 - Objective Capital

Major Shareholders

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