Sun Peak Recommences Drill Program at the Safra VMS Project, Saudi Arabia

Sun Peak Metals Corp. has launched a 3,000-meter diamond drill program at its 100%-owned Safra VMS Project in Saudi Arabia. Two drills are currently active, targeting extensions of the Safra Main mineralization along strike and at depth, as well as the untested Safra North gravity anomaly and Safra East parallel VMS trend.

The program follows up on maiden drilling results from May 2026, which intersected broad zones of copper, zinc, gold, and silver, including a notable 39.0-meter interval at 1.38% Cu and 0.84% Zn. Geophysical surveys, including IP, TDEM, and gravity, have outlined encouraging chargeability anomalies supporting the new drill targets.

Future exploration plans include a maiden drill program at the Al Miyah project and potential drilling at Round 9 license targets, Jabal Alasad and Zayiyr, scheduled for early 2027. The company confirms a cash position of more than C$12 million following a recently completed financing, providing adequate working capital for current and near-term exploration activities.

Sun Peak Metals Corp. (PEAK) announced an expected, incremental step in its exploration cycle, validating the success of its maiden program and demonstrating execution capability in advancing high-priority targets. The company did not disclose any new resource estimates, economic studies, or strategic partnerships, with the market likely anticipating this follow-up program given the prior maiden results and financing closure.

The announcement also addresses a going concern flag raised in the Q1 2026 MD&A, as the updated cash balance materially de-risked the balance sheet for the next 12-18 months.

Sun Peak Metals Corp. is a junior exploration company focused on advancing volcanogenic massive sulphide (VMS) and orogenic gold projects in the Arabian-Nubian Shield. The company controls a 1,072 km² land package across 13 exploration licenses in Saudi Arabia, acquired through strategic Round 9 licensing and prior acquisitions.

The company’s flagship asset is the Safra VMS Project in the Nuqrah Belt, where maiden drilling confirmed broad, continuous Cu-Zn-Au-Ag mineralization. The system remains open at depth and along strike, with strong geophysical and surface geochemical support for further expansion. Other key assets include Halahila, a Zn-Ag dominant VMS deposit; Al Miyah, which hosts Cu-Au VMS and gold targets; and Round 9 licenses targeting the Washaq VMS and NGZ orogenic gold prospects.