GSM Gold Summit Corp.

Gold Summit Corporation ("GSM" or the "Company") (TSX VENTURE: GSM) is pleased to announce that it has retained First Canadian Capital Corp. ("First Canadian") as a consultant to provide strategic marketing and corporate communications advice. Under the terms of the agreement, Gold Summit will pay First Canadian C$5,000 per month for a six-month initial term and grant stock options at an exercise price of C$0.20. First Canadian will assist Gold Summit in opening productive and continuing dialogue with private investors, analysts, brokers, money managers and other financial professionals.

First Canadian will generate awareness among the investment community as Gold Summit advances exploration on the Monte Cristo and Sugar Loaf Peak gold properties in Nevada.

Dr. Anthony P. Taylor, Chief Executive Officer of Gold Summit stated, "We are pleased to have First Canadian as our partner in an Investor Relations capacity. First Canadian has a proven track record and a wealth of experience and contacts from within our sector. We look forward to their involvement at this important stage of our corporate growth and development."

Based in Toronto and in business for over a decade, First Canadian Capital Corp. (www.firstcanadiancapital.com) and its principal, Jason Monaco, have assisted numerous North American corporations in gaining exposure and recognition within the global investment community.

As at November 16, 2009, First Canadian and its principals, directly and indirectly, own a total of approximately 150,000 common shares and 75,000 common share purchase warrants of Gold Summit.

The agreement with First Canadian is subject to TSX Venture Exchange approval.

This news release contains forward-looking statements. These statements are based on information currently available to GSM and GSM provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe GSM's future plans, objectives or goals, including words to the effect that GSM or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of GSM's mineral properties, and GSM's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of GSM's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on GSM's forward-looking statements. GSM does not undertake to update any forward-looking statement that may be made from time to time by GSM or on its behalf, except in accordance with applicable securities laws.

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 and reserves, 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Gold Summit Corporation Andrea Rascati (775) 284-7200 www.goldsummitcorp.com First Canadian Capital Corp. Jason Monaco 416-742-5600 or 1-866-580-8891 jmonaco@firstcanadiancapital.com First Canadian Capital Corp. Bob Mullins 416-742-5600 or 1-866-580-8891 rmullins@firstcanadiancapital.com