Sun PEAK Metals Confirms Strong VMS and Orogenic GOLD Potential Across Newly Acquired Round 9 Licenses in Saudi Arabia
SUN PEAK METALS CONFIRMS STRONG VMS AND OROGENIC GOLD POTENTIAL ACROSS NEWLY
ACQUIRED ROUND 9 LICENSES IN SAUDI ARABIA
Vancouver, BC – May 26, 2026 – Sun Peak Metals Corp. (TSXV: PEAK | OTCQB: SUNPF) ("Sun Peak" or
the "Company") today provided an update on the strong geological prospec�vity iden�fied across seven
explora�on licenses acquired through Saudi Arabia’s Round 9 licensing process (see Sun Peak news release
dated March 31, 2026).
An independent technical review completed by SRK Consul�ng (UK) Ltd, together with advanced remote
sensing, altera�on mapping, and ini�al fieldwork by the Company, has confirmed mul�ple high -priority
targets prospec�ve for volcanogenic massive sulphide (”VMS”) and orogenic gold mineraliza�on. Some 58
direct-detec�on explora�on targets have been iden�fied that will be advanced through follow -up
explora�on in the coming weeks.
The seven licenses acquired in Round 9 cover 632 km² within the highly prospec�ve Arabian-Nubian Shield
and are strategically located near the Nuqrah VMS deposit and the Bulghah and Sukhaybarat gold mines
operated by Ma’aden (Map 1). The Sukhaybarat and Bulghah opera�ons collec�vely produce
approximately 74,000 to 82,000 ounces of gold annually.
With these addi�ons, Sun Peak’s total land posi�on in Saudi Arabia now totals 1,072 km² across 13 100%-
owned explora�on licenses, establishing one of the largest junior -held explora�on por�olios in the
Kingdom.
Greg Davis, CEO of Sun Peak Metals, commented:
"Our Round 9 license strategy was designed to secure highly prospective ground in proven mineral belts,
and the results of our exploration team’s initial field work along with SRK’s independent review strongly
validate that approach. The high number of defined exploration targets, supported by extensive historical
drilling and multiple converging datasets, significantly advances our understanding of these assets and
provides a clear roadmap for exploration. Importantly, this work substantially de -risks the portfolio and
allows us to rapidly prioritize field programs and drill targeting."
PRESS RELEASE
NR 2026-08
For Immediate Release
May 26, 2026
Vancouver, British Columbia
Map 1. Seven Licenses Awarded to Sun Peak in Saudi Arabia’s Round 9 Auc�on
Review Highlights
Sun Peak’s ini�al assessment of the new licenses included a detailed compila�on and interpreta�on of
historical and newly available datasets, integra�ng geological, geochemical, geophysical, recent remote
sensing analysis and ini�al field work to assess mineral poten�al and priori�ze targets. The 7 licenses are
distributed across the Jabal Alasad, Zayiyr, and Mikhlab Proper�es.
Key findings include:
• Jabal Alasad Property (License NS122) hosts a high priority VMS corridor including a broad VMS style
altera�on zone and gossan , called the Washaq Target, recently iden�fied by Sun Peak geologists,
located approximately 15 km south of the Nuqrah VMS deposit.
• Zayiyr Property (License NS169), the NGZ Target is located immediately north of the Bulghah North
gold mine and represents a compelling orogenic gold opportunity . Historical drilling includ ed
10 meters averaging 11.3 g/t gold which could be a poten�al con�nua�on of mineraliza�on along
trend.
• In total, 58 direct-detec�on explora�on targets were iden�fied including 16 interpreted VMS targets,
2 interpreted orogenic targets and 40 addi�onal targets with characteris�cs for both mineral systems.
• 15 priority targets recommended for immediate follow-up.
Priority Target Areas
The targets were iden�fied by reviewing datasets that included 1,970 historical drill holes (22 diamond
drill holes, 128 reverse circula�on drill holes, and extensive shallow drilling), over 3,700 historical soil and
surface samples, and 21 mapped gossan occurrences. Sun Peak applied advanced remote sensing and
altera�on mapping completed by EarthDaily’s Marigold pla�orm to define mul�ple coincident
hydrothermal altera�on zones consistent with poten�al mineralized systems.
Jabal Alasad Property (License NS122)
One of the highest-priority VMS target corridors iden�fied lies approximately 15 km south of the Nuqrah
VMS deposit and exhibits many hallmarks of a poten�al large-scale mineralized system, including:
• Mul�ple targets along a 9.5 km trend, including the Washaq Target, a broad VMS style altera�on zone
and gossan outcrop recently iden�fied by Sun Peak geologists.
• Strong hydrothermal altera�on signatures iden�fied through remote sensing and confirmed by ini�al
field reconnaissance geological surveys.
• Historical quartz vein and sulphide occurrences.
• Historical drilling indica�ng gossanous material.
• Favorable Nuqrah Forma�on volcanic and volcaniclas�c host rocks.
These areas have been priori�zed for immediate field reconnaissance, mapping, rock and soil sampling,
and geophysics including detailed ground gravity and Time Domain Electromagne�c (“TDEM”) surveys.
Results of the surveys will be forthcoming.
Zayiyr Property (License NS169)
The NGZ Target, located on Sun Peak’s license posi�on immediately north of and along strike of the
Bulghah North gold mine, represents a compelling orogenic gold opportunity where historical drilling data
indicates a poten�al con�nua�on of the mineraliza�on along trend, including:
• Historical drilling confirming con�nua�on of the prospec�ve granodiorite host intrusion.
• 18 diamond drillholes and 42 RC drillholes available for immediate 3D modelling.
• Historical gold intercepts include 10 meters averaging 11.3 g/t gold, including 1 meter grading 100 g/t
gold.
These targets are considered drill-ready with minimal addi�onal explora�on work required.
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.
De-Risked Explora�on Opportunity
In their independent work for the Company, SRK concluded that the Company’s Round 9 licenses benefit
from a large volume of high -quality historical explora�on data, enabling the iden�fica�on of direct-
detec�on targets rather than relying solely on conceptual geological interpreta�ons.
This significantly reduces early -stage explora�on risk and allows Sun Peak to focus capital efficiently on
target valida�on and advancement.
Next Steps
Sun Peak has ini�ated explora�on planning across the new licenses, with work expected to include:
• Ground-truthing and field valida�on of priority targets.
• Detailed geological mapping and sampling.
• Structural interpreta�on using high-resolu�on regional aeromagne�c data.
• Detailed geophysical surveys including ground gravity and TDEM.
• 3D modelling based on historical drill data and target refinement.
• Priori�za�on of drill-ready targets for future drilling campaigns.
The Company believes its expanded Saudi Arabian por�olio provides mul�ple opportuni�es for new
discoveries and posi�ons Sun Peak as a leading junior explorer in one of the world’s most rapidly emerging
mining jurisdic�ons.
Explora�on work will occur in parallel to ongoing explora�on programs on Sun Peak’s other projects in
Saudi Arabia, including the current drill program at the Safra and Halahila VMS Projects (see Sun Peak news
release dated May 6, 2026).
Map 2. Sun Peak Metals project loca�on map in Saudi Arabia
Qualified Person
Arron Albano, P. Geo., is the Qualified Person overseeing Sun Peak’s exploration projects in Saudi Arabia
and has reviewed and approved this press release.
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 exploration licenses totalling 1,072 km² along established VMS and
gold trends, with an additional ~200 km² under application.
In Ethiopia, the Company’s Shire Project comprises 6 exploration licenses covering approximately
1,450 km² within the Arabian-Nubian Shield, a highly prospective 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, wit h 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 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 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+.