Author: Sun Peak Metals Corp.

VANCOUVER, BC / ACCESS Newswire / January 22, 2026 / Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:SUNPF) (“Sun Peak” or the “Company“) reports initial results from a systematic geological mapping, rock-chip, and grab sampling program at its 100%-owned Halahila copper-gold-silver volcanogenic massive sulphide (“VMS“) project in the Kingdom of Saudi Arabia (“KSA” or “Saudi Arabia“).

Halahila Project Highlights:

• Systematic geological mapping and rock chip sampling from the main VMS gossan outline a mineralized zone exceeding 650 meters of strike length, with widths of up to 30 meters, hosting encouraging gold and silver values (Figure 1, Table 1).

• 25% of samples (24 of 98) returned >1 g/t gold, with values up to 16.35 g/t gold.

• 29% of samples (28 of 98) returned >10 g/t silver, with values up to 180 g/t silver.

These results represent the first exploration data since Sun Peak completed its acquisition of Saudi Discovery Company on December 18, 2025. The Company is concurrently advancing exploration at its 100%-owned Al Miyah and Safra projects, with results to be reported separately.

Greg Davis, CEO of Sun Peak Metals, commented: “Our exploration team is highly encouraged by the initial results from the Halahila Project. The Project represents a compelling copper-gold-silver VMS target within the Kutam-Al Masane VMS belt in Saudi Arabia. The target, which is comparable to targets the team previously drilled in East Africa, has strong surface gold and silver values and warrants further, aggressive, and systematic exploration. We are eager to advance the entire property through targeted and regional geophysical programs to better define subsurface controls on mineralization in preparation for drilling this year.“

Halahila Project Overview

The 35 km² Halahila Project is situated within the highly prospective Kutam-Al Masane VMS Belt of the southern Asir Terrane in Saudi Arabia. The district hosts several VMS and gold deposits, including the Al Masane copper-zinc mining complex, located 45 km to the north, and the ancient historic Kutam copper mine, located 40 km to the west of Halahila.

Field Evaluation and Sampling

Ongoing fieldwork at Halahila includes: detailed geological mapping and systematic rock-chip and channel sampling of the VMS gossans and associated alteration zones along a greater than 10 kilometer north-south trend. Results indicate extensive VMS-style mineralization and alteration, defining a continuous gold-enriched corridor over approximately 650 meters of strike length and widths up to 30 meters (Figures 1 and 2).

Reported samples were collected from surface exposures within the gold-silver rich oxide (gossan) zone.

Next Steps at Halahila

Sun Peak plans to conduct ground-based time-domain electromagnetic (“TDEM“) surveys in Q1 2026 to further define priority drill targets, with an initial drill program anticipated in Q3 2026.

A property wide drone magnetic survey is planned to acquire high-resolution magnetic data to support geological interpretation and mineral exploration targeting of VMS-type Cu-Zn-Au-Ag mineralization.

Drilling will be designed to test the down-dip extension and continuity of the oxide gold mineralization and evaluate the potential for underlying supergene and primary massive sulphide mineralization containing both base and precious metals.

Sun Peak Projects in Saudi Arabia

The Company currently holds 100% ownership of six (6) exploration licenses covering approximately 438 km² located within the highly prospective VMS trends of the Arabian-Nubian Shield in Saudi Arabia. In addition, the Company expects to add approximately 800 km² through the finalization of the Saudi Arabian Ministry of Industry and Minerals (“MIM“) Round 9 Auction, which was held in Q4 2025, and the finalization of applications for Massa SW and Massa SE that have been accepted by the MIM and are awaiting grant. Sun Peak closed a $6.7M financing in December 2025 and is fully funded to commence systematic exploration campaigns across its prospective property portfolio.

Figure 1. Halahila target area showing gold-in-rock geochemistry from rock-chip and grab sampling program.

Figure 2. Halahila exploration license location map.

Table 1. Notable rock sample assay results from the Halahila target area.

Sample ID	Sample Type	Gold (g/t)	Silver (g/t)
184633	2M CHIP	16.35	180.3
184632	2M CHIP	6.55	23.8
184621	2M CHIP	5.87	35.1
184622	2M CHIP	5.85	3.7
184639	2M CHIP	5.36	39.6
184638	2M CHIP	4.06	28.8
184645	2M CHIP	3.78	18.2
184636	2M CHIP	3.02	23.5
184630	2M CHIP	2.87	12.8
184641	2M CHIP	2.52	9.3
184627	2M CHIP	2.20	6.7
184647	2M CHIP	1.96	33.8
184651	2M CHIP	1.87	11.6
184623	2M CHIP	1.86	9.7
184649	2M CHIP	1.78	17.1
184624	2M CHIP	1.61	3.6
184653	2M CHIP	1.48	7.9
184625	2M CHIP	1.31	7.4
184801	1M X 1M COMPOSITE CHIP	1.11	16.5
184652	2M CHIP	1.09	40.9
184616	2M CHIP	1.05	6.7
184763	0.5M CHIP	1.04	13.8
184643	2M CHIP	1.02	25.4
184650	2M CHIP	1.00	20.6
184644	2M CHIP	0.97	19.4
184642	2M CHIP	0.83	32.1
184626	2M CHIP	0.79	10.2
184629	2M CHIP	0.75	35.0
184757	GRAB	0.75	0.5
184640	2M CHIP	0.65	17.8
184628	2M CHIP	0.58	16.8
184648	2M CHIP	0.49	25.2
184646	2M CHIP	0.47	18.8
184634	2M CHIP	0.41	45.5
184751	1M CHIP	0.38	12.3
184635	2M CHIP	0.33	15.2
184637	2M CHIP	0.18	12.5

Qualified Person

Arron Albano, P. Geo., is the Qualified Person (QP) overseeing the Company’s exploration projects in Saudi Arabia and has reviewed and approved this press release.

Sun Peak’s quality assurance and quality control (QA/QC) protocols for rock samples disclosed herein follow industry standard practices. Rock samples are delivered directly to ALS Global Lab or Al-Amri Labs in Jeddah, Kingdom of Saudi Arabia for analysis for gold by fire assay and multi-element analyses, including silver, by inductively coupled plasma (ICP).

ABOUT SUN PEAK METALS CORP.

Sun Peak holds a portfolio of VMS-style exploration projects within the Arabian-Nubian Shield across Saudi Arabia and Ethiopia.

In Saudi Arabia, the Company holds 100% ownership of six (6) exploration licenses covering approximately 438 km² located within the highly prospective VMS trends of the Arabian-Nubian Shield. In addition, the Company expects to add approximately 800 km² through the finalization of the Saudi Arabian MIM Round 9 Auction, which was held in Q4 2025, and the finalization of two exploration license applications that have been accepted by the MIM and are awaiting grant.

In Ethiopia, the Company’s Shire Project comprises six exploration licenses totaling approximately 1,450 km² within the Arabian-Nubian Shield, the same geological trend that hosts the Bisha Mine and the Asmara Projects in Eritrea. Two of the licenses (Meli and Terer) are held in joint-venture with Ezana Mining, a private Ethiopian company, while the remaining four licenses are 100%-owned by Sun Peak.

ON BEHALF OF THE BOARD OF DIRECTORS OF SUN PEAK METALS CORP.

Greg Davis,
President, CEO & Director

FOR FURTHER INFORMATION, PLEASE CONTACT:

Greg Davis
(T): +1 (604) 999 1099
(E): info@sunpeakmetals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, “forward-looking statements”), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements in this news release include, but are not limited to, statements with respect to the goal of making a significant discovery and the development of a large-scale project in Saudi Arabia;potential for exploration potential in Saudia Arabia; the untapped mineral wealth of Saudi Arabia; SDC being successful in acquiring additional licenses; the goal of making a significant discovery and the development of a large-scale project in Ethiopia and identifying other potential properties and opportunities both in Ethiopia, Saudi Arabia and globally. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Sun Peak will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: These assumptions and risks include, but are not limited to, assumptions and risks associated with the risk that the results of the planned exploration programs at the Halahila Project and other projects held by Sun Peak, do not meet expected results, the state of the political stability of Ethiopia, equity financing markets and results of future exploration activities by Sun Peak. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Sun Peak assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the “Risks and Uncertainties” section in the Prospectus filed with Canadian security regulators.

SOURCE: Sun Peak Metals Corp.

View the original press release on ACCESS Newswire

VANCOUVER, BC / ACCESS Newswire / January 13, 2026 / Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:SUNPF) (“Sun Peak” or the “Company“) is pleased to provide an update on its 100%-owned copper and gold exploration projects in the Kingdom of Saudi Arabia (“KSA“) and to report that field-based exploration activities have commenced across multiple priority projects. The Company also announces new appointments to the Sun Peak Board of Directors.

As announced on December 18^th, 2025, Sun Peak completed the acquisition of Saudi Discovery Company (“SDC”), a private exploration company active in Saudi Arabia since 2023, which assembled a substantial portfolio of volcanogenic massive sulphide (“VMS“) base metal and gold projects. Since closing the transaction, and the associated CAD$6.7M financing on November 28,2025, Sun Peak’s technical team has compiled, validated, and interpreted historical data generated by SDC and prior operators, enabling the rapid advancement of exploration activities.

“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 CEO of Sun Peak Metals. “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. We are confident that applying the same systematic approach to our high quality Saudi portfolio will lead to similar success.”

Data compilation has identified strong gold, silver, and copper values from historical and recent geological sampling, supported by coincident geophysical anomalies. These results have underpinned the launch of systematic 2026 exploration programs across the Company’s priority project areas.

2026 Exploration Program Overview

Field exploration programs on the Safra, Al Miyah, and Halahila Projects are underway. Current work, designed to advance the most prospective VMS trends and determine drill targets for the Company’s initial drill program, includes:

• Detailed geological mapping and geochemical sampling;

• Ground time-domain electromagnetic (“TDEM“) surveys;

• Drone-borne magnetics, induced polarization (“IP”), and airborne electromagnetic, magnetic, and radiometric surveys, planned to commence in Q1 2026.

Results from these programs will be integrated to prioritize initial drill targets, with drilling anticipated to commence later in 2026.

Summary of Previous SDC Field Work Highlights

Safra Project

• A total of 85 surface grab samples returned high-grade precious and base metal values, including assays up to 3.34 g/t Au, 6.72% Cu, 864 g/t Ag, 19.05% Zn, and 9.89% Pb.

• Trenching returned 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 1.5 m grading 8.23 g/t Au, 118 g/t Ag, 0.32% Cu, 11.7% Pb, and 1.62% Zn.

• Detailed gravity surveys outlined strong gravity anomalies coincident with VMS-style mineralization and alteration at Safra Main and Safra East.

• Approximately 600 ground TDEM stations were completed, with results currently under interpretation.

Al Miyah Project

• 50 surface grab samples collected from three target areas returned strong precious and base metal results.

• Samples from Al Miyah Main returned assays up to 4.53 g/t Au, 3.72% Cu, and 42.2 g/t Ag.

• At the Hishashat target, select samples returned values up to 2.33 g/t Au, 3.79% Cu, 23.1 g/t Ag, and 8.21% Zn.

• Coincident gravity highs were identified adjacent to VMS gossans and ancient workings at Hishashat.

• Ground TDEM surveys are currently underway at Hishashat.

Halahila Project

• 83 surface grab samples collected from two target areas returned encouraging results, including 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.

Sun Peak Board of Directors Appointments

Sun Peak is pleased to announce the appointment of Hisham Attar and Joshua Lai to its Board of Directors, effective upon completion of the Company’s previously announced transaction with Saudi Discovery Company (“SDC“) on December 18^th, 2025.

Mr. Attar brings more than 15 years of experience in finance and investment banking, including as a Senior Director at Saudi Arabia’s Public Investment Fund. He has also served in senior executive leadership roles, including as an Executive Committee member at SAMI and a board member of TAQA.

Mr. Lai is currently Head of Legal at Beacon Events Group, a global mining and resource events company. Based in Riyadh, he has extensive experience advising mining companies on securing exploration licenses and executing on projects across the Arabian-Nubian Shield.

These appointments strengthen Sun Peak’s board with additional capital markets, investment, legal, regulatory, and regional expertise as the Company advances its exploration strategy in the Kingdom of Saudi Arabia. The Company previously announced the appointment of Jim Paterson to the Board in connection with the SDC transaction.

David Awram, Hayley Thomasen, Doris Meyer, and Greg Davis (CEO) will remain on the Board of Directors.

In connection with these appointments, Steve DeJong has stepped down from the Board. The Company sincerely thanks Mr. DeJong for his contributions, guidance, and service, and we wish him continued success in his future endeavours.

Saudi Arabian Projects Overview

Sun Peak’s 100%-owned projects in Saudi Arabia are comprised of six (6) exploration licenses totaling approximately 438 km² within the highly prospective volcanic massive sulfide (VMS) trend of the Arabian-Nubian Shield in Saudi Arabia.

The Company is also awaiting the finalization of the Saudi Arabian Ministry of Industry and Minerals (“MIM“) Round 9 Auction, which is expected to add approximately 700 km² along established VMS trends, as well as two (2) additional applications currently under review.

Safra Project (93 km²)

The Safra Project is located within the Nuqrah VMS Belt at the western margin of the Afif Terrane, a region hosting numerous ancient workings and active gold mines. Two documented VMS occurrences, Safra Main and Safra East, are situated approximately 1.5 km apart (Figure 1). Modern exploration completed by SDC, including gravity surveys, trenching, and surface sampling, has outlined multiple sub-parallel VMS zones with strong geophysical and geochemical signatures (Figure 2).

Figure 1. Safra exploration license location map

Figure 2. Target areas at Safra with contoured gravity and geochemistry results for copper

Al Miyah Project (234 km²)

The Al Miyah Project lies within the Muhadad VMS Belt of the Asir Terrane, a prolific VMS and gold district that hosts the Al Hajar and Al Masane mines. SDC completed detailed gravity surveys and surface sampling that confirmed strong mineralization associated with VMS gossans and historical workings at both the Hishashat and Al Miyah Main prospects (Figure 3, Figure 4 & Figure 5).

Figure 3. Al Miyah exploration license location map

Figure 4. Hishashat target with contoured gravity and geochemistry results for copper

Figure 5. Al Miyah target with contoured gravity and geochemistry results for copper

Halahila Project (35 km²)

The Halahila Project is located in the Kutam-Al Masane VMS Belt of the southern Asir Terrane, approximately 45 km south of the Al Masane VMS mine. Historical drilling and recent gravity surveys confirm a well-developed VMS system with extensive gossan development over an approximate 10 km strike length.

Figure 6. Halahila exploration license location map

Figure 7. Halahila target with contoured gravity and geochemistry results for gold

Qualified Person

Arron Albano, P. Geo, is the Qualified Person overseeing Sun Peak’s exploration projects in Saudi Arabia and has reviewed and approved this press release.

Quality assurance and quality control protocols for rock samples disclosed herein follow industry standard practices. The rock samples were delivered directly to labs ALS Global Lab and Alamri Labs in Jeddah, KSA for analysis.

ABOUT SUN PEAK METALS CORP.

Sun Peak holds district-scale VMS base metal and gold projects in the Kingdom of Saudi Arabia and Ethiopia. In Saudi Arabia, the Company holds 440 km² of highly prospective ground across six licenses, with additional applications covering ~700 km² along proven VMS trends. The Company’s Shire Project in Ethiopia covers six exploration licenses totaling approximately 1,450 square kilometers within the highly prospective Arabian-Nubian Shield, the same geological environment as the Bisha Mine and the Asmara Projects in Eritrea. Two licenses (Meli and Terer) held in joint-venture with Ezana Mining, a private Ethiopian Company, while the remaining four are 100% owned by Sun Peak.

ON BEHALF OF THE BOARD OF DIRECTORS OF SUN PEAK METALS CORP.

Greg Davis,
President, CEO & Director

FOR FURTHER INFORMATION, PLEASE CONTACT:

Greg Davis
(T): +1 (604) 999 1099
(E): info@sunpeakmetals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, “forward-looking statements”), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements in this news release include, but are not limited to, statements with respect to the anticipated benefits of the Transaction; the strategic rationale for the Transaction; the holdings of Sun Peak and SDC shareholders upon closing of the Transaction; the entry into the Definitive Agreement; the receipt of all required approvals for closing of the Transaction, including approval of the shareholders of both companies; the composition of the board of directors following closing of the Transaction; the ability of the parties to satisfy the conditions to closing; potential for exploration potential in Saudia Arabia; the untapped mineral wealth of Saudi Arabia; SDC being successful in acquiring additional licenses; the goal of making a significant discovery and the development of a large-scale project in Ethiopia and identifying other potential properties and opportunities both in Ethiopia, Saudi Arabia and globally. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Sun Peak will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the political stability of Ethiopia, equity financing markets and results of future exploration activities by Sun Peak. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Sun Peak assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the “Risks and Uncertainties” section in the Prospectus filed with Canadian security regulators.

SOURCE: Sun Peak Metals Corp.

View the original press release on ACCESS Newswire

VANCOUVER, BC / ACCESS Newswire / December 18, 2025 / Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:SUNPF) (“Sun Peak” or the “Company“) is pleased to announce the successful completion of its previously announced transaction pursuant to which Sun Peak acquired all of the issued and outstanding shares (the “SDC Shares“) of Saudi Discovery Company SPV Limited (“SDC” or “Saudi Discovery“), by way of a share exchange (the “Transaction“).

Greg Davis, Chief Executive Officer of Sun Peak, commented: “We are very excited to complete the transaction with SDC and related $6.7 million financing, which will make Sun Peak the marquee exploration company in the Arabian Nubian Shield. This transaction represents a transformative milestone for the Company, and we look forward to providing further details on our 2026 exploration plans early in the new year. Sun Peak’s management would like to thank the new investors and the shareholders of both Sun Peak and SDC for their strong support throughout this endeavor.“

Pursuant to the Transaction, former SDC shareholders received an aggregate of 58,065,356 common shares of the Company (the “Sun Peak Shares“) in exchange for all SDC Shares. The Sun Peak Shares issued under the Transaction are expected to be listed and posted for trading on the TSX Venture Exchange (“TSXV“).

The Transaction required the approval of Sun Peak shareholders at a special meeting (the “Meeting“) by a simple majority of the votes cast by the Sun Peak shareholders, excluding the votes cast by certain persons, under the policies of the TSXV. At the Meeting, held on December 1, 2025, a total of 53,830,685 Sun Peak Shares, representing 61.8% of the issued and outstanding Sun Peak Shares, were voted, and 100% of the votes cast, excluding the votes cast by certain persons, were in favour of the Transaction.

Further details regarding the Transaction are set out in Sun Peak’s management information circular dated November 3, 2025, in connection with the Meeting, which is available on the Company’s SEDAR+ profile at www.sedarplus.ca.

Conversion of Subscription Receipts

In connection with the Transaction, Sun Peak completed a subscription receipt offering for gross proceeds of $6,668,622.10, comprised of 16,032,470 subscription receipts (the “FinCo Subscription Receipts“) of a wholly owned subsidiary of the Company (“FinCo“) and 3,020,736 subscription receipts of Sun Peak (the “Sun Peak Subscription Receipts“, and together with the FinCo Subscription Receipts, the “Subscription Receipts“) at a price of $0.35 per Subscription Receipt, as previously announced on November 28, 2025.

On closing of the Transaction, without payment of additional consideration or further action on the part of the Subscription Receipt holders, (i) each FinCo Subscription Receipt automatically converted to one unit of FinCo, consisting of one common share of FinCo (“FinCo Share“) and one-half (1/2) of one warrant of FinCo (each whole warrant, a “FinCo Warrant“), and (ii) each Sun Peak Subscription Receipt automatically converted to one unit of Sun Peak, consisting of one Sun Peak Share and one-half (1/2) of one warrant of Sun Peak (each whole warrant, a “Sun Peak Warrant“), exercisable to acquire one Sun Peak Share at an exercise price of $0.50 per Sun Peak Share for a period of thirty-six (36) months from the date of issuance, subject to acceleration in certain situations. Subsequently, FinCo amalgamated with another wholly-owned subsidiary of the Company (the “Amalgamation“), and each FinCo Share was exchanged for one Sun Peak Share, and each FinCo Warrant was exchanged for one Sun Peak Warrant.

The securities issued upon conversion of the Sun Peak Subscription Receipts are subject to a statutory hold period of four months and one day from the date the Sun Peak Subscription Receipts were issued. The securities issued upon the Amalgamation are not subject to Canadian statutory hold periods.

ABOUT SAUDI DISCOVERY COMPANY

Saudi Discovery Company is a pioneering exploration company advancing high-potential mineral projects in Saudi Arabia, aligned with Vision 2030.

ABOUT SUN PEAK METALS CORP.

Sun Peak is advancing the district-scale Shire VMS Project in the Tigray Region of northern Ethiopia. The project covers six exploration licenses totaling approximately 1,450 square kilometers within the highly prospective Arabian-Nubian Shield, the same geological environment as the Bisha Mine and the Asmara Projects in Eritrea.

ON BEHALF OF THE BOARD OF DIRECTORS OF SUN PEAK METALS CORP.

Greg Davis,
President, CEO & Director

FOR FURTHER INFORMATION, PLEASE CONTACT:

Greg Davis
(T): +1 (604) 999 1099
(E): info@sunpeakmetals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, “forward-looking statements”), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements may include, but are not limited to: statements of management of the Company about the benefits of the Transaction and 2026 exploration plans; that Sun Peak will become the marquee exploration company in the Arabian Nubian Shield; the listing on the TSXV of the Sun Peak Shares issued to former SDC shareholders. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Sun Peak will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: market, business, operational or economic conditions. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Sun Peak assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the “Risk Factors” and “Forward-Looking Statements” sections of Sun Peak’s continuous disclosure filings available under its profile on SEDAR+ at www.sedarplus.ca.

SOURCE: Sun Peak Metals Corp.

View the original press release on ACCESS Newswire

VANCOUVER, BC / ACCESS Newswire / October 30, 2025 / Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:SUNPF) (“Sun Peak” or the “Company“) today announced that, further to its news releases dated September 18, October 15 and October 16, 2025, it has entered into a definitive share exchange agreement (the “Agreement“) dated October 30, 2025, with Saudi Discovery Company SPV Limited (“SDC” or “Saudi Discovery“) and all of its shareholders (the “SDC Shareholders“), pursuant to which Sun Peak will acquire 100% of the issued and outstanding shares of SDC (the “Transaction“).

Under the terms of the Agreement, Sun Peak will issue an aggregate of 58,065,356 common shares to the SDC Shareholders in exchange for all issued and outstanding shares of SDC. Upon completion of the Transaction, Sun Peak shareholders and the former shareholders of SDC will hold approximately 60% and 40%, respectively, of the issued and outstanding Sun Peak common shares, exclusive of any securities to be issued in connection with the Company’s concurrent financing.

The Transaction remains subject to customary conditions, including acceptance of the TSX Venture Exchange, regulatory and shareholder approvals, and is expected to close in the first week of December. The Transaction constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) as certain directors and officers of SDC are directors and officers of Sun Peak. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the subject matter and of consideration for the Transaction, insofar as it involves interested parties, will not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. Notwithstanding the foregoing, the Transaction will require the approval of Sun Peak shareholders at a special meeting (the “Meeting“) by a simple majority of the votes cast by the Sun Peak shareholders, excluding the votes cast by certain persons, under the policies of the TSX Venture Exchange.

The Meeting will be held on December 1, 2025, at 9:00 a.m. (Vancouver, Canada), and the record date is set as of October 14, 2025. Sun Peak shareholders of record as at the close of business on the record date will be entitled to receive notice of, attend, and vote at the Meeting. The management information circular and related materials in connection with the Meeting will be filed under Sun Peak’s profile on SEDAR+ at www.sedarplus.ca in due course‎.

DLA Piper (Canada) LLP acts as legal counsel to Sun Peak. Cozen O’Connor LLP acts as legal counsel to Saudi Discovery.

ABOUT SAUDI DISCOVERY COMPANY

Saudi Discovery Company is a pioneering exploration company advancing high-potential mineral projects in Saudi Arabia, aligned with Vision 2030.

ABOUT SUN PEAK METALS CORP.

Sun Peak is advancing the district-scale Shire VMS Project in the Tigray Region of northern Ethiopia. The project covers six exploration licenses totaling approximately 1,450 square kilometers within the highly prospective Arabian-Nubian Shield, the same geological environment as the Bisha Mine and the Asmara Projects in Eritrea.

ON BEHALF OF THE BOARD OF DIRECTORS OF SUN PEAK METALS CORP.

Greg Davis,
President, CEO & Director

FOR FURTHER INFORMATION, PLEASE CONTACT:

Greg Davis
(T): +1 (604) 999 1099
(E): info@sunpeakmetals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, “forward-looking statements”), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements may include, but are not limited to: the terms, timing and completion of the Transaction; the anticipated timing for shareholder and regulatory approvals; the preparation and mailing of the information circular; the satisfaction of closing conditions; and the concurrent financing;. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Sun Peak will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: the risk that the Transaction or the concurrent financing is delayed or not completed on the terms described herein or at all; the risk that required regulatory or shareholder approvals are not obtained; and market, business, operational or economic conditions. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Sun Peak assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the “Risk Factors” and “Forward-Looking Statements” sections of Sun Peak’s continuous disclosure filings available under its profile on SEDAR+ at www.sedarplus.ca

SOURCE: Sun Peak Metals Corp.

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