Gold Summit Corporation

Gold Summit Corporation

May 19, 2006 14:33 ET

Gold Summit Retains Contact Financial for Investor Relations Services

RENO, NEVADA--(CCNMatthews - May 19, 2006) - Gold Summit Corporation ("Gold Summit")(TSX VENTURE:GSM) is pleased to report that they have retained Contact Financial Corporation, Vancouver, BC, ("Contact Financial") to provide investor relations services. Contact Financial has no relationship, direct or indirect interest, or right to acquire such an interest in Gold Summit. Contact Financial will actively focus on shareholder and investment specialist communications.

Commencing immediately, Contact Financial will provide investor relations services for an initial period of six months ending October 31, 2006. Thereafter, the arrangement may be terminated by either party with 30 days advance written notice. In consideration of its services, Contact Financial will be paid a monthly fee of $7,500 plus GST, and will be reimbursed for authorized expenses. Subject to required regulatory approvals, Contact Financial will also be granted incentive stock options to purchase up to 150,000 shares at an exercise price of $0.24 per share, expiring on May 19, 2011. The options will vest in stages over a 12-month period, with no more than one-quarter of the options vesting in any three-month period.

Contact Financial, based out of Vancouver, B.C., provides clients with a comprehensive investor relations strategy, focusing on strengthening lines of communication between its client, its shareholders and potential new shareholders, while increasing market awareness throughout the investment community. The principals of Contact Financial are Kirk D. Gamley, President/CEO/Director, Kris Kottmeier, CFO/Director and Karl Kottmeier, Director. For more information, please visit its website at

In addition to the options granted to Contact Financial, the Company has also granted 950,000 options to directors, officers, employees and consultants at an exercise price of $0.24 per share, expiring on May 19, 2011.

This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

Shares Outstanding 34,773,086

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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