Sun Peak Increases Non-Brokered Private Placement

Sun Peak Metals Corp. has increased the gross proceeds of its non-brokered private placement from $5,000,000 to $10,000,000. The amended offering consists of up to 25,000,000 units priced at $0.40 per unit. Each unit comprises one common share and one-half of a common share purchase warrant. Warrants are exercisable at $0.55 per share for two years, with an acceleration clause if the TSXV VWAP reaches $1.10 for ten consecutive trading days.

Net proceeds will fund exploration on projects in Saudi Arabia and Ethiopia, cover offering costs, and provide general working capital. Securities carry a four-month-and-one-day hold period and remain subject to TSXV and regulatory approvals.

Sun Peak Metals Corp. (PEAK) has secured a $10 million financing to address the going concern warning issued in its Q1 2026 MD&A, where management explicitly stated that current working capital was insufficient to complete planned exploration over the next twelve months. The injection provides immediate liquidity to continue the 2026 exploration program across the Saudi portfolio and maintain the Ethiopian project.

The offering is fully dilutive, adding 25,000,000 common shares and 12,500,000 warrants to the capital structure. The $0.40 unit price is at current market levels, indicating no discount to existing shareholders.

Sun Peak Metals Corp. is an exploration-stage company focused on volcanogenic massive sulphide (VMS) and orogenic gold projects in the Arabian-Nubian Shield. The company controls 1,072 km² across 13 exploration licenses in Saudi Arabia, acquired through Round 9 auctions and previous purchases. Its flagship projects include Safra (Cu-Zn-Ag-Au) and Halahila (Zn-Ag-Au) in Saudi Arabia, both of which recently completed maiden drilling programs. Management has a track record in the region, and the company benefits from Saudi government mining incentives. The Shire Project in Ethiopia remains on care & maintenance under force majeure since March 2025.