Mr. Greg Davis reports

SUN PEAK METALS IDENTIFIES NEW VMS GOSSANS AT HALAHILA, RETURNING UP TO 1.32 G/T GOLD, 11 G/T SILVER, AND 0.64 % COPPER

Continuing exploration work has identified two new gold- and silver-bearing gossan zones at Sun Peak Metals Corp.'s 100-per-cent-owned Halahila VMS (volcanogenic massive sulphide) project in Saudi Arabia, located approximately 3.5 kilometres and five kilometres km south and along trend from the Halahila Main zone.

Halahila VMS project highlights:

• Two newly identified VMS gossan zones, each approximately 200 metres long and two m to 14 m wide, located 3.5 km and five km south of Halahila Main, in the newly identified Halahila South target area;
• Rock-chip and grab samples returned up to 1.32 grams per tonne gold, 11 g/t silver, 0.64 per cent copper and 1.05 per cent zinc;
• At Halahila Main, time-domain electromagnetic (TDEM) surveys define strong conductors coincident with a 650-metre gossan zone, where previous results returned up to 16.35 g/t gold and 180 g/t silver;
• Continuing work includes geological mapping, rock sampling, and ground TDEM and detailed ground gravity surveys;
• Halahila Main is drill ready, with drilling scheduled to begin in late Q2.

Greg Davis, chief executive officer of Sun Peak Metals, commented: "The identification of multiple mineralized gossan zones and high-grade samples at Halahila underscores the scale and potential of the Halahila VMS project. The newly identified gold- and silver-rich VMS gossans at surface, located up to five kilometres along trend to the south of the Halahila Main zone, highlight significant size potential. At the Halahila Main zone, EM surveys have identified modellable conductors beneath the gossan, defining compelling drill targets. We look forward to commencing drill testing shortly to evaluate the subsurface gold and copper VMS mineralization."

The new discoveries build on earlier results where 25 per cent of samples (24 of 98) exceeded one g/t gold (up to 16.35 g/t gold) and 29 per cent (28 of 98) exceeded 10 g/t silver (up to 180 g/t silver) (see Sun Peak's news release dated Jan. 22, 2026). Halahila South gossans are situated beneath Cambrian-Ordovician postmineral Wajid sandstone cover, suggesting potential for additional concealed VMS targets along trend.

Sun Peak continues active exploration across its Saudi Arabia portfolio, including Halahila, Al Miyah, Safra and newly acquired Round 9 licences. The company's maiden drill program in Saudi Arabia is expected to commence shortly, with further updates to follow.

Halahila project overview

The 35-square-kilometre Halahila project is located within the prospective Kutam-Al Masane VMS belt in the southern Asir terrane of Saudi Arabia. The district hosts multiple VMS and gold deposits, including the Al Masane copper-zinc mining complex, 45 km to the north, and the historic Kutam copper mine, 40 km to the west of Halahila.

Qualified person

Arron Albano, PGeo, is the qualified person overseeing Sun Peak's exploration projects in Saudi Arabia and has reviewed and approved this press release.

Sun Peak's quality assurance and quality control protocols for rock samples disclosed herein follow industry-standard practices. Rock samples are delivered directly to Al-Amri Labs in Jeddah, Kingdom of Saudi Arabia (KSA), for analysis for gold by fire assay and multielement analyses, including silver, by inductively coupled plasma (ICP).

About Sun Peak Metals Corp.

Sun Peak Metals 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 licences totalling 1,072 square kilometres along established VMS and gold trends, with an additional approximately 200 square kilometres under application.

In Ethiopia, the company's Shire project comprises six exploration licences covering approximately 1,450 square kilometres within the Arabian-Nubian Shield, a highly prospective belt that hosts major deposits such as the Bisha mine and the Asmara projects in Eritrea. Two licences (Meli and Terer) are held in joint venture with Ezana Mining, a private Ethiopian company, with the remaining four licences owned 100 per cent by Sun Peak.

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