Sun PEAK Metals Advances Multi-Project Exploration Program in Saudi Arabia – Drill Programs Complete ON First TWO Projects, Assays Pending
SUN PEAK METALS ADVANCES MULTI-PROJECT EXPLORATION PROGRAM IN SAUDI ARABIA – DRILL
PROGRAMS COMPLETE ON FIRST TWO PROJECTS, ASSAYS PENDING
Vancouver, Bri�sh Columbia – July 30, 2026 – Sun Peak Metals Corp. (TSXV: PEAK | OTCQB: SUNPF) (“Sun
Peak” or the “Company”) today provides an update on explora�on ac�vi�es across its 100%-owned Saudi
Arabian por�olio covering 1,072 km2 within the highly prospec�ve Arabian-Nubian Shield.
During the first half of 2026, Sun Peak advanced mul�ple projects through systematic exploration
programs including geological mapping, rock and soil geochemistry, ground and airborne geophysics,
target genera�on and maiden diamond drilling. The Company’s ini�al drilling campaigns at Safra Main and
Halahila Main were completed on schedule and significantly under budget, marking an important
milestone in the advancement of its Saudi explora�on pla�orm.
The Arabian-Nubian Shield hosts numerous volcanogenic massive sulphide (“VMS”), intrusion-related and
orogenic gold systems, and Sun Peak’s explora�on strategy is focused on systema�cally advancing a
pipeline of high-quality targets from regional discovery through drill tes�ng.
Recent Highlights
• Completed maiden diamond drilling at Safra Main and Halahila Main, with 23 holes totalling 3,764
metres drilled across both targets. Drill holes in both programs intersected sulphide mineraliza�on
on structures or key horizons within typical VMS-style volcanic and sedimentary rock packages.
• Submited 961 drill core samples for laboratory analysis, with ini�al assay results expected in late
August 2026.
• Completed 1,345 line-kilometres of fixed-wing �me-domain airborne electromagne�c (“ FTEM”)
surveying at the Al Miyah Project, along with gravity surveys at Hishashat (728 sta�ons) and Al
Miyah Main (117 sta�ons) gold and copper VMS targets.
• Advanced the Washaq Target at the recently acquired Jabal Al Asad Project (Figure 2) through a
637-sta�on gravity survey, geological sampling (44 rock samples and 45 soil samples), and follow-
up ground electromagne�c (“ EM”) surveying currently underway. Explora�on work iden�fied a
large VMS -style gossan extending approximately 1.5 kilometres along a northeast -southwest
trend with a broad hydrothermal footwall altera�on zone containing gossanous stringer
mineraliza�on was mapped (Figure 3).
PRESS RELEASE
NR 2026-10
For Immediate Release
July 30, 2026
Vancouver, British Columbia
“We are continuing to build a significant exploration platform in Saudi Arabia, advancing multiple projects
through a disciplined discovery process,” said Greg Davis, President and CEO of Sun Peak. “The completion
of our maiden drilling programs at Safra Main and Halahila Main represents an important milestone, and
we look forward to receiving the first assay results in late August while continuing to advance our broader
portfolio of high-priority targets.”
Figure 1. Sun Peak Projects Loca�on Map.
Halahila Project (33 sq km) – Maiden Drill Program Completed
The Company’s maiden drill program at Halahila Main has been completed and comprised 13 diamond
drill holes totalling 2,521.65 metres. A total of 402 drill core samples have been submited to ALS Global
in Jeddah for laboratory analysis, with ini�al assay results expected in late August 2026.
Drilling tested the Halahila Main Zone, where geological mapping and systema�c rock -chip sampling
outlined a mineralized gossan extending for more than 650 metres along strike and measuring up to 30
metres in width. Surface samples returned values of up to 16.35 g/t gold and 180 g/t silver (see Sun Peak
news release dated June 8, 2026). Geological, geochemical, EM and gravity data were integrated to select
and priori�ze the drill targets.
Safra Project (93 sq km) – Maiden Drill Program Completed
The maiden drill program at Safra Main has been completed and comprised 10 diamond drill holes totalling
1,242.35 metres. A total of 559 drill core samples have been submited to SGS laboratory in Turkey for gold
and mul�-element analysis, with ini�al assay results expected in late August 2026.
Drilling focused on the Safra Main Zone, where previous surface sampling returned values of up to 3.34
g/t gold, 6.72% copper, 864 g/t silver, 19.05% zinc and 9.89% lead. Previous trench sampling returned an
interval of 22.5 metres with 0.90 g/t gold, 35.6 g/t silver , 0.20% copper , 1.83% lead and 1.21% zinc (see
Sun Peak news release dated January 13, 2026).
Drill targets were selected using coincident gravity anomalies, �me -domain electromagne�c (“ TDEM”)
conductors and strong surface geochemistry associated with gossans, altera�on and copper -oxide
mineraliza�on. During 2026, the Company also completed 35 ground EM survey lines totalling
approximately 33.4 line-kilometres and approximately 703 sta�ons at Safra.
Al Miyah Property (235 sq km) – Drilling Scheduled for Q4
Sun Peak recently completed approximately 1,345 line-kilometres of FTEM surveying across the Al Miyah
licence. The Company also completed gravity surveys comprising 728 sta�ons at the Hishashat Target and
117 sta�ons at the Al Miyah Main Target. The survey results are being compiled and interpreted together
with geological and geochemical data to refine and priori�ze targets for follow-up explora�on. Drilling is
scheduled for Q4 at Al Miyah.
Jabal Al Asad Project (90 sq km) – Explora�on Work Focused on Washaq Target
Washaq is a high-priority VMS target that was iden�fied within the Jabal Al Asad Property (Figure 2), one
of the Company’s Round 9 license acquisi�ons (see Sun Peak news release dated May 26 , 2026). Ini�al
mapping completed in April outlined a large VMS -style gossan extending approximately 1.5 kilometres
along a northeast-southwest trend. The target is characterized by a broad hydrothermal footwall altera�on
zone containing gossanous stringer zones.
The Company recently completed detailed geological mapping, collected 44 rock samples and 45 soil
samples, and undertook an ini�al 637-sta�on gravity survey covering approximately 6 km² (Figure 3). Two
follow-up ground EM loops comprising 24 survey lines and approximately 226 sta�ons are underway to
further refine and priori�ze poten�al drill targets. Results received to date are being compiled and
interpreted by the Company.
Figure 2. Sun Peak Round 9 Licenses in Bulghah area.
Figure 3. Contoured residual gravity results and ini�al interpreta�on at the Washaq Target.
Zayiyr Property (360 sq km) – Explora�on work focused on NGZ Target
The NGZ Target is located on Sun Peak’s Zayiyr Property immediately north of, and along strike from, the
Bulghah North gold mine (Figure 2). The target represents an orogenic gold opportunity where historical
drilling data indicates the poten�al con�nua�on of mineraliza�on along trend. The available historical
database includes 18 diamond drill holes and 42 reverse -circula�on (“RC”) drill holes. Historical drilling
also indicates con�nua�on of the prospec�ve granodiorite host intrusion and includes a reported intercept
of 10 metres averaging 11.3 g/t gold, including 1 metre grading 100 g/t gold.
The Company will integrate and model the historical geological, geochemical, and drilling data to refine
priority targets ahead of an ini�al reverse-circula�on drill program.
Note: Historical rock, soil, and drill results referenced herein were completed by previous operators and
have not as yet been independently verified by the Company. While the Company believes the historical
data to be relevant and useful for exploration targeting, it should not be relied upon as current or conclusive
or of suitable quality until confirmed through additional field work, sampling, and/or drilling.
Regional Security Note
Sun Peak con�nues to closely monitor regional geopoli�cal and security developments in the Middle East
and maintains appropriate measures to support the safety of its personnel and opera�ons. To date, there
has been no impact on the Company’s ac�vi�es in Saudi Arabia, including personnel, explora�on ac�vi�es,
schedules or work programs. The Company has in place a thorough due diligence process which takes into
account a wide range of considera�ons, including human rights, life, health and safety, that provides it
with all relevant informa�on necessary to make informed decisions when ini�a�ng work programs. Sun
Peak’s due diligence includes engaging MS Risk Limited to con�nue to assess the risk to personnel and
opera�ons in the region. Sun Peak has put in place appropriate early warning systems and mi�ga�on
measures for its opera�ons in both the KSA. Sun Peak’s ac�vi�es must align with the KSA na�onal interests,
security provisions and crisis response frameworks while recognizing that external conflict dynamics may
impose unforeseen opera�onal stresses.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved
by Arron Albano, P.Geo., Exploration Manager for Sun Peak Metals Corp., who is a Qualified Person as
defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
ABOUT SUN PEAK METALS CORP.
Sun Peak Metals Corp’s por�olio is located within the Arabian -Nubian Shield, a highly prospec�ve
Precambrian mineral belt that hosts numerous VMS, intrusion -related and orogenic gold systems,
including Jabal Sayid and Mansourah in Saudi Arabia and the Bisha Mine and Asmara Projects in Eritrea.
The Company’s explora�on strategy is focused on systema�cally advancing a pipeline of projects from
regional target iden�fica�on through drill tes�ng.
In the Kingdom of Saudi Arabia, the Company holds 13 explora�on licences totalling 1,072 km² along
established VMS and gold trends, with applica�ons pending for two addi�onal explora�on licences
covering approximately 200 km².
In Ethiopia, the Company’s Shire Project comprises six explora�on licences covering approximately 1,450
km².
Sun Peak’s team has an unparalleled track record of mul�ple mine discoveries within the Arabian-Nubian
Shield, supported by significant capital-markets strength and experience.
ON BEHALF OF THE BOARD OF DIRECTORS OF SUN PEAK METALS CORP.
Greg Davis,
President, CEO & Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Greg Davis
(T): +1 (604) 999 1099
(E): [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain information and statements in this news release may be considered forward -looking information or forward -looking
statements for purposes of applicable securities laws (collectively, “forward-looking statements”), which reflect the expectations
of m anagement regarding its disclosure and amendments thereto. Forward -looking statements consist of information or
statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or
intentions regarding the future. Such information or statements in this news release include, but are not limited to, statements
with respect to the anticipated benefits of the potential for exploration potential in Saudia Arabia; the untapped mineral wealth
of Saudi Arabia ; Sun Peak being successful in acquiring additional licenses; the goal of making a significant discovery and the
development of a large-scale project in Saudi Arabia or Ethiopia and identifying other potential properties and opportunities both
in Ethiopia, Saudi Arabia and globally. Such statements are subject to risks and uncertainties that may cause actual results,
performance or developments to differ materially from those contained in the statements. No assurance can be given that any
of the events ant icipated by the forward- looking statements will occur or, if they do occur, what benefits Sun Peak will obtain
from them. These forward -looking statements reflect management's current views and are based on certain expectations,
estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to
differ materially from those expressed or implied by the forward -looking statements, including without limitation: These
assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the political stability of
Ethiopia and the Middle Eastern region, equity financing markets and results of future exploration activities by Sun Peak.
These forward-looking statements are made as of the date of this news release and, except as required by applicable securities
laws, Sun Peak assumes no obligation to update these forward -looking statements, or to update the reasons why actual results
differed from those projected in the forward -looking statements. Additional information about these and other assumptions,
risks and uncertainties are set out in the "Risks Factors" section in the Company’s Prospectus dated August 10, 2020 and the
“Risks Associated with the SDC Acquisition” section in the Company’s Information Circular dated November 3, 2025, both filed
on SEDAR+.