Sun PEAK Metals Commences Maiden Drill Program at Safra VMS Project, Saudi Arabia
SUN PEAK METALS COMMENCES MAIDEN DRILL PROGRAM AT SAFRA VMS PROJECT, SAUDI
ARABIA
Vancouver, BC – May 6, 2026 – Sun Peak Metals Corp. (TSXV: PEAK | OTCQB: SUNPF) ("Sun Peak" or the
"Company") today announced the commencement of its inaugural diamond drill program at the 100%-
owned Safra Project (comprised of Safra Main , East, and South), a high -priority volcanogenic massive
sulphide (“VMS”) target located in the Kingdom of Saudi Arabia (“KSA” or “Saudi Arabia”).
Highlights
• Drill crews and Sun Peak personnel have mobilized to Safra (Map 1) , with a fully funded drill
program of up to 1,500 meters now underway.
• Maiden drilling will target compelling VMS systems defined by coincident gravity anomalies, Time
Domain Electromagne�c (TDEM) conductors, and strong surface geochemistry associated with
gossans (oxidized zones), altera�on, and copper oxide mineraliza�on.
• Ini�al drilling at Safra Main will test beneath high-grade surface results, including assays up to 3.34
g/t Au, 6.72% Cu, 864 g/t Ag, 19.05% Zn, and 9.89% Pb, and trenching intervals of 22.5m grading
0.9 g/t Au , 35.6 g/t Ag, 0.20 % Cu , 1.83% Pb and 1.21% Zn (see Sun Peak news release dated
January 13, 2026).
• Addi�onal holes will target highly conduc�ve ground TDEM anomalies located 500 meters south
of Safra Main along trend, beneath shallow sand cover (Safra South).
• Following comple�on at Safra, drilling will immediately advance to the Halahila Project, where
recent work has defined a 650 meter gossan with values up to 16.35 g/t gold and 180 g/t silver
(see Sun Peak news releases dated January 13, 2026, and January 22, 2026). Further details on
planned drilling at Halahila will be forthcoming.
Management commentary:
Arron Albano, Project Geologist of Sun Peak Metals, commented:
“Safra has advanced from early- stage targeting to drill -ready status in approximately six months,
illustrating both the quality of the project and the efficiency of our operations in-country. The convergence
of strong geophysics and surface results geochemistry presents a compelling drill target. This program is
designed to confirm the scale and continuity at depth while testing highly prospective conductors along
strike.”
PRESS RELEASE
NR 2026-07
For Immediate Release
May 6, 2026
Vancouver, British Columbia
Greg Davis, CEO of Sun Peak Metals, commented:
“Drilling at Safra marks a key milestone as we rapidly advance our Saudi portfolio. The team has moved
from initial fieldwork to drilling on schedule , demonstrating strong execution in the Kingdom. We
appreciate the continued support of the Ministry of Industry and Mineral Resources as we unlock the
potential of these highly prospective VMS system within the Arabian-Nubian Shield.”
Safra Project Overview
The Safra Project covers approximately 93 k ilometers2 within the prospec�ve Nuqrah VMS Belt of the
Arabian-Nubian Shield (Map 1), located approximately 185 kilometers northeast of the city of Medinah .
Explora�on to date includes geological mapping, sampling, trenching, gravity, and TDEM surveys to define
two VMS trends: Safra Main and Safra East (Map 2).
Recent TDEM surveys have also outlined mul�ple high priority conductors 500 meters south of Safra Main
concealed beneath shallow sand cover. These targets (“ Safra South”), alongside Safra Main , will be the
focus of the current drill campaign.
The maiden drill program will test beneath previously reported high -grade grab and trench results ,
including:
• grab samples grading up to 3.34 g/t Au, 6.72% Cu, 864 g/t Ag, 19.05% Zn, and 9.89% Pb;
• 22.5 metres of trench sampling grading 0.9 g/t Au, 35.6 g/t Ag, 0.20 % Cu, 1.83% Pb and 1.21%
Zn, including
• 1.5m grading 8.23 g/t Au, 118 g/t Ag, 0.32% Cu, 11.7 % Pb, and 1.62% Zn).
Safra is one of 13 licenses in Sun Peak’s Saudi Arabian por�olio, all of which are being systema�cally
explored for VMS and orogenic-gold type mineraliza�on (Map 1).
Map 1. Sun Peak Projects Location Map.
Map 2. Safra License Overview Map.
Upcoming Event – Metals Investor Forum, Vancouver
Sun Peak will be atending the Metals Investor Forum in Vancouver from May 8 – 9, 2026. The Metals
Investor Forum is an invite -only event that brings together leading resource companies with retail and
high-net-worth investors.
CEO Greg Davis will be presenting on a panel alongside Jeff Clark of Paydirt Prospector on Friday, May 8
at 1:50 PM PT. Registration is free - sign up to attend in person or online HERE.
Qualified Person
Arron Albano, P . Geo., is the Qualified Person overseeing Sun Peak’s explora�on projects in Saudi Arabia
and has reviewed and approved this press release.
Sun Peak’s quality assurance and quality control protocols for rock samples disclosed herein follow
industry standard prac�ces. Rock samples are delivered directly to Al -Amri Labs in Jeddah, Kingdom of
Saudi Arabia (KSA) for analysis for gold by fire assay and mul� -element analyses, including silver, by
induc�vely coupled plasma (ICP).
ABOUT SUN PEAK METALS CORP.
Sun Peak Metals Corp. is focused on district -scale VMS base metal and gold projects in the Kingdom of
Saudi Arabia and Ethiopia.
In Saudi Arabia, the Company holds 13 explora�on licenses totalling 1,072 km² along established VMS and
gold trends, with an addi�onal ~200 km² under applica�on.
In Ethiopia, the Company’s Shire Project comprises 6 explora�on licenses covering approximately 1,450
km² within the Arabian-Nubian Shield, a highly prospec�ve belt that hosts major deposits such 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, with the remaining four licenses owned 100% 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 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+.