Sun PEAK Metals Awarded 100% Ownership of Seven New Exploration Licenses Totaling 632 KM² IN Saudi Arabia
SUN PEAK METALS AWARDED 100% OWNERSHIP OF SEVEN NEW EXPLORATION LICENSES
TOTALING 632 KM² IN SAUDI ARABIA
Vancouver, BC – March 31, 2026 – Sun Peak Metals Corp. (TSXV: PEAK | OTCQB: SUNPF) ("Sun Peak" or
the "Company") today announced the acquisi�on of seven explora�on licenses totaling 632 km² through
the Kingdom of Saudi Arabia’s Round 9 licensing auc�on . The licenses awarded s ignificantly expand Sun
Peak’s footprint within the Arabian -Nubian Shield, with the Company now holding 1,072 km² across 13
exploration licenses in Saudi Arabia.
Round 9 Highlights:
• Seven licenses covering 632 km², awarded to Sun Peak as the winning bidder of the Saudi Arabian
Ministry of Industry and Mineral Resources (“MIMR”) Round 9 Licensing Auc�on and finalized on
March 26, 2026.
• Located within prospec�ve trends near the Bulghah and Sukhaybarat gold mines and the Nuqrah
volcanogenic massive sulfide (“VMS”) deposit, all owned by the Saudi Arabian Mining Company
(Ma’aden).
• License areas host numerous historical mineral showings, VMS gossans, and strong hydrothermal
altera�on zones along VMS trends.
• Ini�al explora�on on the new licenses has begun and will include detailed geological mapping,
rock and soil geochemical sampling, trenching, and ground/airborne geophysical surveys.
• Sun Peak now holds 1,072 km² across 13 exploration licenses in Saudi Arabia which have been
carefully selected and cover highly prospective ground along established VMS and gold trends,
with a further ~200 km² under application (Figures 1 and 2).
Greg Davis, CEO of Sun Peak Metals, stated: “Sun Peak’s Round 9 strategy was driven by extensive
geological research, data analysis, remote sensing and multiple site visits. The selected license areas
demonstrate high potential for both VMS and orogenic gold mineralization within favorable geologic
environments. We are pleased to have secured these licenses, with initial fieldwork already underway, and
we look forward to providing further updates as we advance our exploration programs.”
The southernmost licenses are located adjacent to the Bulghah gold mine, with the Nuqrah VMS deposit
approximately 12 km to the north and the Sukhaybarat gold mine approximately 32 km to the east.
PRESS RELEASE
NR 2026-04
For Immediate Release
March 31, 2026
Vancouver, British Columbia
Figure 1. Exis�ng Sun Peak Licenses and License Applica�ons in Saudi Arabia
Figure 2. Seven Licenses Awarded to Sun Peak in Saudi Arabia’s Round 9 Auc�on
Qualified Person
Arron Albano, P. G e o., is the Qualified Person overseeing Sun Peak’s explora�on projects in Saudi Arabia
and has reviewed and approved this press release.
ABOUT SUN PEAK METALS CORP.
Sun Peak holds di strict-scale VMS base metal and gold p rojects in the Kingdom of Saudi Arabia and
Ethiopia.
In Saudi Arabia, the Company controls 1,072 km² across 13 exploration licenses covering highly
prospective ground along established VMS and gold trends, with a further ~200 km² under application.
The Company’s Shire Project in Ethiopia covers six exploration licenses totaling approximately 1,450
square kilometers within the highly prospective Arabian-Nubian Shield, the same geological environment
as the Bisha Mine and the Asmara Projects in Eritrea. Two licenses (Meli and Terer) are held in joint -
venture with Ezana Mining, a private Ethiopian Company, while the remaining four are 100% owned by
Sun Peak.
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 anticipated by the forward- looking statements will occur or, if they do occur, what benefits Sun Peak will obtain
from them. These forward -looking statements refl ect 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 for ward-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 stabi lity 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 and Uncertainties" section in the Prospectus filed with Canadian security regulators.