Sun PEAK Provides an Update ON the Shire Project
SUN PEAK PROVIDES AN UPDATE ON THE SHIRE PROJECT
June 27, 2025 - Vancouver, BC – Sun Peak Metals Corp. (“Sun Peak” or the “ Company”) (TSXV: PEAK |
OTCQB: SUNPF) provides an update on the exploration work on the Shire VMS and gold Project in northern
Ethiopia. Exploration activities, including the Time Domain Electromagnetic (“TDEM”) survey, have been
temporarily paused in line with the beginning of the rainy season and seasonal planning . The TDEM
program, initiated in January 2025, progressed steadily despite political challenges in the region ,
demonstrating the team’s adaptability and commitment to advancing exploration in a dynamic
environment. The survey results will be used to refine drill targets for the next phase of exploration.
Highlights:
• TDEM program: Despite delays caused by political tension in Tigray, the Company completed
TDEM coverage over several high -priority areas on the Meli and Anguda Mineral Trends. A
number of additional high-priority VMS zones have been earmarked for future surveying and will
be addressed as access conditions continue to improve.
• Detailed geological mapping and rock sampling continued over numerous locations on the Shire
Project resulting in the identification of several new gossanous VMS and gold targets.
• Drill program: Data from the completed TDEM work will be used to refine and prioritize targets
for the next drill campaign on the Shire Project.
Greg Davis, President & CEO, stated : “While the regional situation and political tension s impacted the
pace of our TDEM work, we’re encouraged by the quality of the data we were able to collect. These results
will be instrumental in refining drill targets for the next phase of exploration. We remain committed to the
Shire Project and look forward to resuming exploration work, including drilling, both after the rainy season
and once stability conditions improve.”
Exploration Outlook
In total, the TDEM survey completed 938 stations on 43 lines over 5 target areas. The data from the survey
is being compiled with other geological, geophysical, and geochemical data to identify and prioritize drill
targets. However, evolving regional conditions in Tigray influenced the pace of survey completion, and
the Company remains attentive to opportunities for resuming full coverage as the situation stabilizes. The
results from the compilation work and future planned TDEM surveys will determine the future drill
targeting on the Shire Project.
Sun Peak continues to develop our target pipeline on the Shire Project with detailed geological mapping,
rock sampling and using soil geochemistry, to test for new targets demonstrating favourable geology and
alteration for VMS and gold mineralization.
PRESS RELEASE
NR 2025-02
For Immediate Release
June 27, 2025
Vancouver, British Columbia
Sun Peak maintains active engagement with all key stakeholders, including consistent communication
with government authorities at all levels and constructive dialogue with local communities, to ensure
continued support and alignment for the advancement of the Shire Project.
Strategic Focus
In parallel with its strong commitment to the Shire Project, the Company is proactively assessing
additional high -potential opportunities to further enhance shareholder value. The goal is to remain
committed to the success of the Shire Project and advance it further as regional conditions stabilize, while
also securing a high -quality project elsewhere to continue building value and maximize returns for
shareholders.
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.
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. T he Meli and Terer Licenses are part of a j oint-venture agreement
with Ezana Mining, a private Ethiopian Company and the other four are 100% owned by Sun Peak.
COMMUNITY ENGAGEMENT AND HUMAN RIGHTS
Sun Peak has been active on engagement with communities and other stakeholders to ensure that
stakeholders provide consent and agreement to our activities that create surface disturbance, including
drill holes. All disturbance to the land will be reclaimed after completion of the exploration work. The
Company’s current operations in Ethiopia are exploratory in nature and cause very little surface
disturbance. Community engagement is performed by our experienced local liaison team before the
beginning of any activities, which encourages positive interactions. We consider Sun Peak’s presence and
continued support and involvement in the Tigray region a positive contribution and we consider our
conduct to be consistent with Multinational Enterprises Guidelines. Sun Peak is committed to doing
business with integrity and in an ethical manner that is clear and apparent to all internal and external
stakeholders. Sun Peak adheres to the Company’s Human Rights Policy and does not tolerate violations
of human rights in any way, shape, or form, whether these violations are committed by Sun Peak
personnel or contracted third parties. Sun Peak has in place a thorough due diligence process which takes
into account a wide range of considerations, including human rights, that provides it with all relevant
information necessary to make informed decisions when initiating work programs.
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 result s of the planned drilling and 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.