VANCOUVER, BC / ACCESS Newswire / January 13, 2026 / Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:SUNPF) ("Sun Peak" or the "Company") is pleased to provide an update on its 100%-owned copper and gold exploration projects in the Kingdom of Saudi Arabia ("KSA") and to report that field-based exploration activities have commenced across multiple priority projects. The Company also announces new appointments to the Sun Peak Board of Directors.

As announced on December 18^th, 2025, Sun Peak completed the acquisition of Saudi Discovery Company ("SDC"), a private exploration company active in Saudi Arabia since 2023, which assembled a substantial portfolio of volcanogenic massive sulphide ("VMS") base metal and gold projects. Since closing the transaction, and the associated CAD$6.7M financing on November 28,2025, Sun Peak's technical team has compiled, validated, and interpreted historical data generated by SDC and prior operators, enabling the rapid advancement of exploration activities.

"Sun Peak is applying its technical and operational expertise in the Arabian-Nubian Shield to highly prospective VMS and gold systems in Saudi Arabia, with the goal of making new discoveries that support the Kingdom of Saudi Arabia's Vision 2030 strategy," said Greg Davis, President and CEO of Sun Peak Metals. "Early data compilation is highly encouraging, with strong copper-gold VMS signatures identified across multiple projects. These results are comparable to indicators observed prior to the discovery of major VMS deposits such as Bisha and Emba Derho. We are confident that applying the same systematic approach to our high quality Saudi portfolio will lead to similar success."

Data compilation has identified strong gold, silver, and copper values from historical and recent geological sampling, supported by coincident geophysical anomalies. These results have underpinned the launch of systematic 2026 exploration programs across the Company's priority project areas.

2026 Exploration Program Overview

Field exploration programs on the Safra, Al Miyah, and Halahila Projects are underway. Current work, designed to advance the most prospective VMS trends and determine drill targets for the Company's initial drill program, includes:

• Detailed geological mapping and geochemical sampling;

• Ground time-domain electromagnetic ("TDEM") surveys;

• Drone-borne magnetics, induced polarization ("IP"), and airborne electromagnetic, magnetic, and radiometric surveys, planned to commence in Q1 2026.

Results from these programs will be integrated to prioritize initial drill targets, with drilling anticipated to commence later in 2026.

Summary of Previous SDC Field Work Highlights

Safra Project

• A total of 85 surface grab samples returned high-grade precious and base metal values, including assays up to 3.34 g/t Au, 6.72% Cu, 864 g/t Ag, 19.05% Zn, and 9.89% Pb.

• Trenching returned 22.5 m grading 0.9 g/t Au, 35.6 g/t Ag, 0.20% Cu, 1.83% Pb, and 1.21% Zn, including 1.5 m grading 8.23 g/t Au, 118 g/t Ag, 0.32% Cu, 11.7% Pb, and 1.62% Zn.

• Detailed gravity surveys outlined strong gravity anomalies coincident with VMS-style mineralization and alteration at Safra Main and Safra East.

• Approximately 600 ground TDEM stations were completed, with results currently under interpretation.

Al Miyah Project

• 50 surface grab samples collected from three target areas returned strong precious and base metal results.

• Samples from Al Miyah Main returned assays up to 4.53 g/t Au, 3.72% Cu, and 42.2 g/t Ag.

• At the Hishashat target, select samples returned values up to 2.33 g/t Au, 3.79% Cu, 23.1 g/t Ag, and 8.21% Zn.

• Coincident gravity highs were identified adjacent to VMS gossans and ancient workings at Hishashat.

• Ground TDEM surveys are currently underway at Hishashat.

Halahila Project

• 83 surface grab samples collected from two target areas returned encouraging results, including values up to 17.0 g/t Au, 1.02% Cu, 80.3 g/t Ag, 2.19% Zn, and 2.5% Pb.

• Gravity surveys outlined a pronounced north-south-trending gravity gradient associated with a >10 km VMS trend.

Sun Peak Board of Directors Appointments

Sun Peak is pleased to announce the appointment of Hisham Attar and Joshua Lai to its Board of Directors, effective upon completion of the Company's previously announced transaction with Saudi Discovery Company ("SDC") on December 18^th, 2025.

Mr. Attar brings more than 15 years of experience in finance and investment banking, including as a Senior Director at Saudi Arabia's Public Investment Fund. He has also served in senior executive leadership roles, including as an Executive Committee member at SAMI and a board member of TAQA.

Mr. Lai is currently Head of Legal at Beacon Events Group, a global mining and resource events company. Based in Riyadh, he has extensive experience advising mining companies on securing exploration licenses and executing on projects across the Arabian-Nubian Shield.

These appointments strengthen Sun Peak's board with additional capital markets, investment, legal, regulatory, and regional expertise as the Company advances its exploration strategy in the Kingdom of Saudi Arabia. The Company previously announced the appointment of Jim Paterson to the Board in connection with the SDC transaction.

David Awram, Hayley Thomasen, Doris Meyer, and Greg Davis (CEO) will remain on the Board of Directors.

In connection with these appointments, Steve DeJong has stepped down from the Board. The Company sincerely thanks Mr. DeJong for his contributions, guidance, and service, and we wish him continued success in his future endeavours.

Saudi Arabian Projects Overview

Sun Peak's 100%-owned projects in Saudi Arabia are comprised of six (6) exploration licenses totaling approximately 438 km² within the highly prospective volcanic massive sulfide (VMS) trend of the Arabian-Nubian Shield in Saudi Arabia.

The Company is also awaiting the finalization of the Saudi Arabian Ministry of Industry and Minerals ("MIM") Round 9 Auction, which is expected to add approximately 700 km² along established VMS trends, as well as two (2) additional applications currently under review.

Safra Project (93 km²)

The Safra Project is located within the Nuqrah VMS Belt at the western margin of the Afif Terrane, a region hosting numerous ancient workings and active gold mines. Two documented VMS occurrences, Safra Main and Safra East, are situated approximately 1.5 km apart (Figure 1). Modern exploration completed by SDC, including gravity surveys, trenching, and surface sampling, has outlined multiple sub-parallel VMS zones with strong geophysical and geochemical signatures (Figure 2).

Figure 1. Safra exploration license location map

Figure 2. Target areas at Safra with contoured gravity and geochemistry results for copper

Al Miyah Project (234 km²)

The Al Miyah Project lies within the Muhadad VMS Belt of the Asir Terrane, a prolific VMS and gold district that hosts the Al Hajar and Al Masane mines. SDC completed detailed gravity surveys and surface sampling that confirmed strong mineralization associated with VMS gossans and historical workings at both the Hishashat and Al Miyah Main prospects (Figure 3, Figure 4 & Figure 5).

Figure 3. Al Miyah exploration license location map

Figure 4. Hishashat target with contoured gravity and geochemistry results for copper

Figure 5. Al Miyah target with contoured gravity and geochemistry results for copper

Halahila Project (35 km²)

The Halahila Project is located in the Kutam-Al Masane VMS Belt of the southern Asir Terrane, approximately 45 km south of the Al Masane VMS mine. Historical drilling and recent gravity surveys confirm a well-developed VMS system with extensive gossan development over an approximate 10 km strike length.

Figure 6. Halahila exploration license location map

Figure 7. Halahila target with contoured gravity and geochemistry results for gold

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.

Quality assurance and quality control protocols for rock samples disclosed herein follow industry standard practices. The rock samples were delivered directly to labs ALS Global Lab and Alamri Labs in Jeddah, KSA for analysis.

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 holds 440 km² of highly prospective ground across six licenses, with additional applications covering ~700 km² along proven VMS trends. The Company's Shire Project in Ethiopia covers six exploration licenses totaling approximately 1,450 square kilometers within the highly prospective Arabian-Nubian Shield, the same geological environment as the Bisha Mine and the Asmara Projects in Eritrea. Two licenses (Meli and Terer) held in joint-venture with Ezana Mining, a private Ethiopian Company, while the remaining four are 100% owned 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): info@sunpeakmetals.com

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 management 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 Transaction; the strategic rationale for the Transaction; the holdings of Sun Peak and SDC shareholders upon closing of the Transaction; the entry into the Definitive Agreement; the receipt of all required approvals for closing of the Transaction, including approval of the shareholders of both companies; the composition of the board of directors following closing of the Transaction; the ability of the parties to satisfy the conditions to closing; potential for exploration potential in Saudia Arabia; the untapped mineral wealth of Saudi Arabia; SDC being successful in acquiring additional licenses; 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, 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 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: These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the political stability of Ethiopia, 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 and Uncertainties" section in the Prospectus filed with Canadian security regulators.

SOURCE: Sun Peak Metals Corp.