Sun PEAK Metals Completes Initial 2024 Drill Program at the Shire Project
SUN PEAK METALS COMPLETES INITIAL 2024 DRILL PROGRAM AT THE SHIRE PROJECT
June 20, 2024 – Vancouver - Sun Peak Metals Corp . (the “ Company” or “ Sun Peak ”) (TSXV:PEAK |
OTCQB:SUNPF) is pleased to report that the initial 2024 drill program on the Shire Project in Ethiopia is
now complete and results are pending.
The Company drilled 24 diamond drill holes on the Terer and Hamlo VMS Targets located on the Terer
License, for a total of 5,236 meters. All core samples have now been submitted to the lab and the first
batch of results are expected in July.
Highlights
• A total of 12 diamond drill holes were completed at the Terer VMS target for a total of 2,660m.
• A total of 12 diamond drill holes were completed at the Hamlo VMS target, for total of 2,576m
• First batch of assay results are expected in July.
• Exploration work consisting of prospecting, mapping, and sampling will continue through the
rainy season.
• Drilling is set to resume in Q4 2024 after the rainy season.
“The Sun Peak Exploration Team did a superb job of efficiently and safely completing the initial phase of
drilling in 2024. We are very proud of our entire Team’s performance in completing the planned meterage
of this initial program on time and on budget.” states Greg Davis, Sun Peak’s President and CEO. “We look
forward to releasing assay results once they are received and interpreted in July.”
Both the Terer and Hamlo Targets are part of the cluster of targets referred to as the Anguda VMS System
area, which is part of a large defined VMS cluster that trends southwest-northeast for over 20km by over
10km wide. Both targets have gossan outcrops, with geophysical gravity high anomal ies and strong
geophysical VTEM conductors.
The Company is now planning the next drill program which is expected to begin after the rainy season
ends in October.
PRESS RELEASE
NR 2024-05
For Immediate Release
June 20, 2024
Vancouver, British Columbia
QUALIFIED PERSON’S STATEMENT
David K. Daoud, P. Geo, Vice President Exploration is the Qualified Person overseeing Sun Peak’s
exploration projects in Ethiopia and has reviewed and approved this press release.
All drill holes reported are diamond drill core holes.
A Quality Assurance/Quality Control program was part of the sampling program. This program includes
the systematic submittals of standards, duplicates, and blank samples into the flow of samples produced
by the sampling.
Samples were prepared at ALS Laboratory in Addis Ababa, Ethiopia and sent to ALS Laboratory in Dublin,
Ireland for analysis.
ABOUT SUN PEAK METALS CORP.
Sun Peak is exploring the district -scale Shire VMS Project in the Tigray Region of northern Ethiopia. The
Shire Project is comprised of six exploration licenses and covers approximately 1,450 square kilometers in
the prospective Arabian Nubian Shield. The licenses are in the same geological environment as both the
Bisha Mine and the Asmara Projects. The Meli and Terer Licenses are part of a joint -venture agreement
with Ezana Mining, a private Ethiopian Company and the other four are 100% owned by Sun Peak. The
Sun Peak team have worked in East Africa for more than two decades and the Company’s strategy is to
apply exploration techniques that have worked successfully in the region before, to build assets through
major copper-gold VMS discoveries.
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 may include, but are not limited to, statements with respect to
the goal of making a significant discovery and the development of a large-scale project in Ethiopia and identifying other potential
properties and opportunities both in Ethiopia 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 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: the
risk that the results of the planned exploration programs at the Shire Project do not meet expected results. 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 di ffered 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.