Sun Peak Metals Awarded 100% Ownership of Seven New Exploration Licenses Totaling 632 km2 in Saudi Arabia

Executive Summary

• Sun Peak Metals Corp. acquired seven new exploration licenses covering 632 km² in Saudi Arabia’s Round 9 licensing auction, increasing its total holdings to 1,072 km² across 13 licenses.
• The newly‑awarded areas are situated near known gold mines (Bulghah, Sukhaybarat) and the Nuqrah VMS deposit, offering significant potential for both orogenic gold and volcanogenic massive sulfide mineralization.
• Initial fieldwork—including mapping, geochemical sampling, trenching, and geophysical surveys—has already commenced on the new licenses.

Key Details

• Acquisition: Seven exploration licences (total 632 km²) awarded to Sun Peak as the winning bidder in Saudi Arabia’s Ministry of Industry and Mineral Resources Round 9 Licensing Auction; finalized 26 Mar 2026.
• Total Footprint: Sun Peak now controls 1,072 km² across 13 exploration licences in Saudi Arabia, with an additional ~200 km² under application.
• Location Highlights: Licences lie within prospective trends near the Bulghah and Sukhaybarat gold mines and the Nuqrah VMS deposit (owned by Ma’aden).
• Geological Features: Areas contain historic mineral showings, VMS gossans, strong hydrothermal alteration zones, and are aligned with established VMS and gold trends.
• Exploration Program Initiated: Early work includes detailed geological mapping, rock and soil geochemical sampling, trenching, and ground/airborne geophysical surveys.
• CEO Statement (Greg Davis): Emphasized the strategic, data‑driven selection of licences, high potential for VMS and gold mineralization, and ongoing field activities with expectations of future updates.
• Qualified Person: Arron Albano, P.Geo., reviewed and approved the release.

Notable Quotes

“Sun Peak's Round 9 strategy was driven by extensive geological research, data analysis, remote sensing and multiple site visits. The selected license areas demonstrate high potential for both VMS and orogenic gold mineralization within favorable geologic environments.” – Greg Davis, President, CEO & Director

Materiality Assessment: Material – Positive (significant expansion of exploration footprint in a geopolitically strategic region with immediate commencement of field activities).