Mr. Greg Davis reports

SUN PEAK METALS AWARDED 100% OWNERSHIP OF SEVEN NEW EXPLORATION LICENSES TOTALING 632 KM2 IN SAUDI ARABIA

Sun Peak Metals Corp. has acquired seven exploration licences totalling 632 square kilometres through the Kingdom of Saudi Arabia's Round 9 licensing auction. The licences awarded significantly expand Sun Peak's footprint within the Arabian-Nubian Shield, with the company now holding 1,072 square kilometres across 13 exploration licences in Saudi Arabia.

Round 9 highlights:

• Seven licences covering 632 square kilometres, awarded to Sun Peak as the winning bidder of the Saudi Arabian Ministry of Industry and Mineral Resources (MIMR) Round 9 licensing auction and finalized on March 26, 2026;
• Located within prospective trends near the Bulghah and Sukhaybarat gold mines and the Nuqrah volcanogenic massive sulphide (VMS) deposit, all owned by the Saudi Arabian Mining Company (Ma'aden);
• Licence areas host numerous historical mineral showings, VMS gossans and strong hydrothermal alteration zones along VMS trends;
• Initial exploration on the new licences 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 square kilometres across 13 exploration licences in Saudi Arabia, which have been carefully selected and cover highly prospective ground along established VMS and gold trends, with a further approximately 200 square kilometres under application.

Greg Davis, chief executive officer 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 licence areas demonstrate high potential for both VMS and orogenic gold mineralization within favourable geologic environments. We are pleased to have secured these licences, with initial fieldwork already under way, and we look forward to providing further updates as we advance our exploration programs."

The southernmost licences are located adjacent to the Bulghah gold mine, with the Nuqrah VMS deposit approximately 12 kilometres to the north and the Sukhaybarat gold mine approximately 32 kilometres to the east.

Qualified person

Arron Albano, PGeo, 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 holds district-scale VMS base metal and gold projects in the Kingdom of Saudi Arabia and Ethiopia.

In Saudi Arabia, the company controls 1,072 square kilometres across 13 exploration licences covering highly prospective ground along established VMS and gold trends, with a further approximately 200 square kilometres under application. The company's Shire project in Ethiopia covers six exploration licences totalling approximately 1,450 square kilometres within the highly prospective Arabian-Nubian Shield, the same geological environment as the Bisha mine and the Asmara projects in Eritrea. Two licences (Meli and Terer) are held in joint venture with Ezana Mining, a private Ethiopian company, while the remaining four are 100 per cent owned by Sun Peak.

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