Sun Peak Metals commences maiden drill at Halahila gold-copper project

Sun Peak Metals Commences Maiden Drill Program at High-Priority Halahila Gold-copper VMS Project

VANCOUVER, BC / ACCESS Newswire / June 8, 2026 / Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:SUNPF) ("Sun Peak" or the "Company") today announced the commencement of its maiden diamond drill program at the Company's 100%-owned Halahila Gold-Copper Volcanogenic Massive Sulphide ("VMS") Project in the Kingdom of Saudi Arabia ("KSA"). The approximately 2,500-metre drill program follows the successful completion of drilling at the Safra VMS Project and marks the Company's second drill campaign in Saudi Arabia this year.

Highlights

• Maiden diamond drill program underway at the Halahila Project, with approximately 2,500 metres planned.

• Initial drilling will target the Halahila Main zone, where recent exploration has identified a 650-metre-long mineralized gossan up to 30 metres wide. The program may be expanded based on results.

• Surface sampling at Halahila Main returned assays of up to 16.35 g/t gold and 180 g/t silver.

• Geophysical surveys have identified electromagnetic ("EM") conductors beneath the Halahila Main zone, representing compelling targets for subsurface sulphide mineralization.

• Drill mobilization follows the successful completion of 1,242 metres of drilling across 10 holes in two target areas at the Safra VMS Project. Core samples have been submitted to SGS Laboratory (Turkey) for assaying and will be reported when available.

"Halahila has rapidly emerged as one of the most compelling exploration targets in our Saudi Arabian portfolio," said Arron Albano, Exploration Manager of Sun Peak. "The project exhibits many of the hallmarks of a significant VMS system, including extensive hydrothermal alteration, a 650-metre-long gold and silver-bearing gossan, strong surface geochemistry, and conductive targets at depth that may represent sulphide mineralization. Recent exploration has also identified additional mineralized gossans along a five-kilometre trend south of Halahila Main, highlighting the district-scale potential of the system with a total length of ten kilometres. This maiden drill program represents the first opportunity to test targets at depth and evaluate the potential for a significant new VMS discovery."

"We are pleased to have drilling underway at Halahila immediately following the successful completion of our maiden drill program at Safra," said Greg Davis, President and CEO of Sun Peak. "Advancing multiple projects from exploration to drilling reflects the strength of our team in the Kingdom and the advantages of operating in Saudi Arabia, where a supportive regulatory environment, excellent infrastructure, and strong government commitment to mining continue to accelerate project development. With drilling now underway at Halahila and core samples from Safra currently being assayed, we look forward to a steady stream of catalysts as we advance our growing Saudi Arabian portfolio."

Halahila Drill Program

The Halahila Project is located within the Precambrian Arabian Nubian Shield (Map 1) and hosts a district-scale package of prospective volcanic and sedimentary rocks interpreted to be favourable for precious metal-rich VMS mineralization.

The initial drill program is designed to test priority targets beneath the Halahila Main zone (Map 2A & 2B), where geological mapping, geochemical sampling, and geophysical surveys have identified coincident indicators of a potentially significant mineralized system (Long Section 3 and Cross Section 4). Drilling will focus on areas where TDEM surveys have defined conductors, over a strike length of 4.1km, and beneath the 650-metre-long gossan, interpreted as potential sulphide mineralization at depth.

Recent exploration has expanded the project's mineralized footprint, identifying multiple additional gold- and silver-rich gossans along a corridor extending approximately five kilometres south of Halahila Main. These gossan zones are untested and underscore the district-scale potential of the project and provide a pipeline of follow-up targets for future drilling.

The planned 2,500-metre program will consist of multiple diamond drill holes designed to test the geometry, continuity, and sulphide potential of the primary target areas. Drill core will be logged, sampled, and submitted to accredited laboratories for analysis, with assay results expected following completion of the program.

Results from both the recently completed Safra drill program and the ongoing Halahila campaign are expected to generate a consistent flow of exploration news through the remainder of 2026. Both projects have excellent access and favourable logistics, as do all of Sun Peak's projects in the KSA.

About the Halahila Project

The Halahila Project is one of Sun Peak's 100%-owned exploration assets in Saudi Arabia and forms part of the Company's growing portfolio of VMS and precious metals projects in the Arabian Nubian Shield. Exploration completed to date has identified extensive hydrothermal alteration, numerous gossan occurrences, precious metal enrichment, and geophysical targets consistent with VMS mineralization.

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.

ABOUT SUN PEAK METALS CORP.

Sun Peak Metals Corp. is focused on district-scale VMS base metal and gold projects in the Kingdom of Saudi Arabia and Ethiopia.

In Saudi Arabia, the Company holds 13 exploration licenses totalling 1,072 km² along established VMS and gold trends, with an additional ~200 km² under application.

In Ethiopia, the Company's Shire Project comprises 6 exploration licenses covering approximately 1,450 km² within the Arabian-Nubian Shield, a highly prospective belt that hosts major deposits such 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 in this news release include, but are not limited to, statements with respect to the anticipated benefits of the potential for exploration potential in Saudia Arabia; the untapped mineral wealth of Saudi Arabia; Sun Peak being successful in acquiring additional licenses; the goal of making a significant discovery and the development of a large-scale project in Saudi Arabia or 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 and the Middle Eastern region, 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 Factors" section in the Company's Prospectus dated August 10, 2020, and the "Risks Associated with the SDC Acquisition" section in the Company's Information Circular dated November 3, 2025, both filed on SEDAR+.

SOURCE: Sun Peak Metals Corp.

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