Sun Peak Metals begins initial drill program at Safra

Mr. Greg Davis reports SUN PEAK METALS COMMENCES MAIDEN DRILL PROGRAM AT SAFRA VMS PROJECT, SAUDI ARABIA Sun Peak Metals Corp. has commenced its inaugural diamond drill program at the 100-per-cent-owned Safra project (comprising Safra Main, East and South), a high-priority volcanogenic massive sulphide (VMS) target located in the Kingdom of Saudi Arabia. Highlights: Drill crews and Sun Peak personnel have mobilized to Safra, with a fully financed drill program of up to 1,500 metres now under way. Maiden drilling will target compelling VMS systems defined by coincident gravity anomalies, time-domain electromagnetic (TDEM) conductors, and strong surface geochemistry associated with gossans (oxidized zones), alteration and copper oxide mineralization. Initial drilling at Safra Main will test beneath high-grade surface results, including assays up to 3.34 grams per tonne gold, 6.72 per cent copper, 864 grams per tonne silver, 19.05 per cent zinc and 9.89 per cent lead, and trenching intervals of 22.5 metres grading 0.9 gram per tonne gold, 35.6 grams per tonne silver, 0.20 per cent copper, 1.83 per cent lead and 1.21 per cent zinc (see Sun Peak's news release dated Jan. 13, 2026). Additional holes will target highly conductive ground TDEM anomalies located 500 metres south of Safra Main along trend, beneath shallow sand cover (Safra South). Following completion at Safra, drilling will immediately advance to the Halahila project, where recent work has defined a 650-metre gossan with values up to 16.35 grams per tonne gold and 180 grams per tonne silver (see Sun Peak's news releases dated Jan. 13, 2026, and Jan. 22, 2026). Further details on planned drilling at Halahila will be forthcoming. Management commentary Arron Albano, project geologist of Sun Peak Metals, commented: "Safra has advanced from early-stage targeting to drill-ready status in approximately six months, illustrating both the quality of the project and the efficiency of our operations in-country. The convergence of strong geophysics and surface results geochemistry presents a compelling drill target. This program is designed to confirm the scale and continuity at depth while testing highly prospective conductors along strike." Greg Davis, chief executive officer of Sun Peak Metals, commented: "Drilling at Safra marks a key milestone as we rapidly advance our Saudi portfolio. The team has moved from initial fieldwork to drilling on schedule, demonstrating strong execution in the Kingdom. We appreciate the continued support of the Ministry of Industry and Mineral Resources as we unlock the potential of these highly prospective VMS system within the Arabian-Nubian Shield." Safra project overview The Safra project covers approximately 93 square kilometres within the prospective Nuqrah VMS belt of the Arabian-Nubian Shield, located approximately 185 kilometres northeast of the city of Medinah. Exploration to date includes geological mapping, sampling, trenching, gravity and TDEM surveys to define two VMS trends: Safra Main and Safra East. Recent TDEM surveys have also outlined multiple high-priority conductors 500 metres south of Safra Main concealed beneath shallow sand cover. These targets (Safra South), alongside Safra Main, will be the focus of the current drill campaign. The maiden drill program will test beneath previously reported high-grade grab and trench results, including: Grab samples grading up to 3.34 g/t Au, 6.72 per cent Cu, 864 g/t Ag, 19.05 per cent Zn and 9.89 per cent Pb; 22.5 metres of trench sampling grading 0.9 g/t Au, 35.6 g/t Ag, 0.20 per cent Cu, 1.83 per cent Pb and 1.21 per cent Zn; Including 1.5 m grading 8.23 g/t Au, 118 g/t Ag, 0.32 per cent Cu, 11.7 per cent Pb and 1.62 per cent Zn. Safra is one of 13 licences in Sun Peak's Saudi Arabian portfolio, all of which are being systematically explored for VMS and orogenic-gold type mineralization. Coming event -- Metals Investor Forum, Vancouver Sun Peak will be attending the Metals Investor Forum in Vancouver from May 8 to 9, 2026. The Metals Investor Forum is an invite-only event that brings together leading resource companies with retail and high-net-worth investors. CEO Greg Davis will be presenting on a panel alongside Jeff Clark of Paydirt Prospector on Friday, May 8 at 1:50 p.m. PT. Registration is free -- sign up to attend in person or on-line. 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. Sun Peak's quality assurance and quality control protocols for rock samples disclosed herein follow industry-standard practices. Rock samples are delivered directly to Al-Amri Labs in Jeddah, Kingdom of Saudi Arabia, for analysis for gold by fire assay and multielement analyses, including silver, by inductively coupled plasma (ICP). About Sun Peak Metals Corp. Sun Peak Metals 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 licences totalling 1,072 square kilometres along established VMS and gold trends, with an additional approximately 200 square kilometres under application. In Ethiopia, the company's Shire project comprises six exploration licences covering approximately 1,450 square kilometres 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 licences (Meli and Terer) are held in joint venture with Ezana Mining, a private Ethiopian company, with the remaining four licences owned 100 per cent by Sun Peak. We seek Safe Harbor.