Sun Peak starts exploration program in Saudi Arabia

Executive Summary

• Sun Peak Metals Corp. has commenced its 2026 field-based exploration program across its 100%-owned copper and gold projects in the Kingdom of Saudi Arabia (KSA), following the acquisition of Saudi Discovery Company (SDC).
• The company reports strong historical and recent geochemical results from surface sampling and trenching at its Safra, Al Miyah, and Halahila projects, identifying significant gold, copper, silver, zinc, and lead values consistent with Volcanogenic Massive Sulphide (VMS) systems.
• The 2026 program includes geological mapping, geochemical sampling, and geophysical surveys (TDEM, drone-borne magnetics/IP/EM) to prioritize drill targets, with initial drilling anticipated later in 2026.

Key Details

• Acquisition Context: Sun Peak completed the acquisition of Saudi Discovery Company (SDC) on Dec. 18, 2025, and closed an associated $6.7-million financing on Nov. 28, 2025.
• 2026 Exploration Activities:
  • Field programs are underway at Safra, Al Miyah, and Halahila projects.
  • Activities include detailed geological mapping, geochemical sampling, and ground time-domain electromagnetic (TDEM) surveys.
  • Drone-borne magnetics, induced polarization (IP), and airborne electromagnetic, magnetic, and radiometric surveys are planned to commence in Q1 2026.
  • Drilling is anticipated to commence later in 2026.
• Safra Project Highlights:
  • 85 surface grab samples returned high-grade values, including up to 3.34 g/t Au, 6.72% Cu, 864 g/t Ag, 19.05% Zn, and 9.89% Pb.
  • Trenching results: 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 a high-grade interval of 1.5 m grading 8.23 g/t Au, 118 g/t Ag, 0.32% Cu, 11.7% Pb, and 1.62% Zn.
  • Gravity surveys outlined strong anomalies coincident with VMS-style mineralization at Safra Main and Safra East.
  • ~600 ground TDEM stations completed; results under interpretation.
• Al Miyah Project Highlights:
  • 50 surface grab samples from three target areas returned strong results.
  • Al Miyah Main samples returned up to 4.53 g/t Au, 3.72% Cu, and 42.2 g/t Ag.
  • Hishashat target samples returned up to 2.33 g/t Au, 3.79% Cu, 23.1 g/t Ag, and 8.21% Zn.
  • Coincident gravity highs identified adjacent to VMS gossans and ancient workings at Hishashat.
  • Ground TDEM surveys underway at Hishashat.
• Halahila Project Highlights:
  • 83 surface grab samples from two target areas returned 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.
• Portfolio Overview:
  • Sun Peak holds six exploration licenses totaling ~438 sq km in KSA.
  • Awaiting finalization of MIM Round 9 Auction, expected to add ~700 sq km along established VMS trends.
  • Two additional applications under review.
• Board Appointments:
  • Hisham Attar appointed (15+ years finance/investment banking, former senior director at Saudi Arabia's Public Investment Fund).
  • Joshua Lai appointed (Head of Legal at Beacon Events Group, extensive mining legal/regulatory experience in KSA).
  • Steve DeJong stepped down from the board.
  • Jim Paterson, David Awram, Hayley Thomasen, Doris Meyer, and Greg Davis remain on the board.

Notable Quotes

• "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 chief executive officer.
• "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."