Sun Peak Metals Corp. Commences 2026 Exploration Program in the Kingdom of Saudi Arabia

The news release dated January 13, 2026, announces the commencement of the 2026 field exploration program in the Kingdom of Saudi Arabia (KSA). This follows the acquisition of Saudi Discovery Company (SDC), which closed in December 2025. Exploration is currently focused on the Safra, Al Miyah, and Halahila projects. The initial work consists of geological mapping, surface sampling, and geophysical surveys. The objective is to define drill targets for an initial drilling campaign anticipated for later in 2026. The company is leveraging its technical team’s experience in the Arabian-Nubian Shield to target Volcanogenic Massive Sulfide (VMS) and gold systems.

This news is categorized as Routine - Positive. While it represents the successful commencement of operations in a new jurisdiction, it is the expected follow-through of the SDC acquisition and the $6.7 million financing completed in late 2025. - The news confirms that the company has successfully transitioned its operational focus away from its troubled Shire Project in Ethiopia, which remains under force majeure. - No new drill results or resource estimates were provided; the data mentioned (up to 17 g/t Au and 7% Cu) are historical samples from work performed by SDC prior to the acquisition. - The appointment of regional experts to the board (Hisham Attar and Joshua Lai) strengthens local ties, which is critical for navigating the Saudi regulatory environment. - Material impact is tempered by the fact that the company is currently in the earliest stages of exploration (mapping/sampling), meaning significant discovery risk remains.

Sun Peak Metals Corp. is a junior explorer focused on the Arabian-Nubian Shield. Historically, its flagship was the Shire VMS Project in Tigray, Ethiopia. However, due to regional political instability and a regional government suspension of mining activities to "curb illegal mining," the project was placed under Force Majeure in August 2025. The company has since shifted its primary focus to a portfolio of six exploration licenses in Saudi Arabia (Safra, Al Miyah, Halahila, and Afif) covering 438 km2. These projects are at the early exploration stage but show evidence of ancient mining and high-grade surface mineralization typical of VMS systems.