Sun Peak increases non-brokered private placement

Sun Peak Increases Non-Brokered Private Placement

VANCOUVER, BC / ACCESS Newswire / September 23, 2026 / Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:SUNPF) ("Sun Peak" or the "Company") is pleased to announce that due to strong investor demand, it has increased its non-brokered private placement offering, previously announced on September 17, 2026, (the "Offering") to gross proceeds of up to $10,000,000, an increase of $5,000,000 from the previously announced gross proceeds of up to $5,000,000.

Under the amended terms, the Offering now consists of issuance of up to 25,000,000 units of the Company (the "Units") at a price of $0.40 per Unit for aggregate gross proceeds of up to $10,000,000. Each Unit consists of one common share of the Company (each a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one Common Share (each a "Warrant Share") at a price of $0.55 per Warrant Share for a period of 2 years from closing of the Offering.

The Warrants will be subject to an accelerated expiry provision such that, if the volume-weighted average price of the Company's Common Shares on the TSX Venture Exchange (the "TSXV") equals or exceeds $1.10 for ten (10) consecutive trading days, then the Warrants will expire thirty (30) days following the date on which the Company either provides notice of acceleration to the holders of the Warrants or issues a news release announcing the acceleration, in each case at the Company's election.

The net proceeds of the Offering will be used for exploration on the Company's projects located in the Kingdom of Saudi Arabia and Ethiopia, the costs of the Offering and for general working capital.

The securities issued in connection with the Offering will be subject to a four-month and one-day hold period under applicable securities laws. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSXV. Finder's fees may be payable in the Offering, such terms will be disclosed at a later time, if applicable.

Cautionary Note to U.S. Investors

The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available. This news release does not constitute an offer to sell securities, nor a solicitation of an offer to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements. "United States" and "U.S. person" have the respective meanings assigned in Regulation S under the U.S. Securities Act.

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