Sun Peak Metals Samples up to 6.73 g/t Gold from the Newly Identified Hilux Zone at the Al Miyah Project

PRESS RELEASE NR 2026-05

For Immediate Release April 23, 2026 Vancouver, British Columbia

SUN PEAK METALS SAMPLES UP TO 6.73 G/T GOLD FROM THE NEWLY IDENTIFIED HILUX ZONE AT THE AL MIYAH PROJECT

Vancouver, BC – April 23, 2026 – Sun Peak Metals Corp. (TSXV: PEAK | OTCQB: SUNPF) ("Sun Peak" or the "Company") announces ini�al surface sample results from a rock-chip and grab sampling program at its 100%-owned Al Miyah project (234 km²). Al Miyah is comprised of three of the thirteen explora�on licenses held by Sun Peak in the Kingdom of Saudi Arabia (“KSA” or “Saudi Arabia”), which cover 1,072 km².

Highlights

• A total of 175 rock-chip and grab samples sourced from ar�sanal workings were collected from three target areas: Hishashat VMS Target, Al Miyah Main VMS Target and the newly iden�fied Hilux Zone Gold Target. The Hilux Zone comprises an approximately 6 kilometer north-south trend marked by ar�sanal mining, including hand-dug sha�s and pits, excava�ons, and placer workings.
• Rock-chip sampling and material sourced from ar�sanal workings at Hilux returned up to 6.14 and 6.73 g/t gold, respec�vely.
• Property-wide sampling outside of known areas returned encouraging precious and base metal values.
• Further work at the Al Miyah Property will comprise addi�onal systema�c geological mapping, trenching, rock and soil sampling, ground Time Domain Electromagne�c (“TDEM”), and detailed ground gravity surveys.

Sun Peak has been con�nuously ac�ve on all of the Company’s projects in Saudi Arabia (see Map 1). The work reported in this news release is from the Al Miyah Project only (see Map 2), which has been conducted concurrently with explora�on programs at Halahila, Safra, and the newly acquired licenses from the Round 9 Auc�on. Updates on each project will be forthcoming, as well as details on the Company’s first upcoming drill program in the KSA.

Greg Davis, CEO of Sun Peak Metals, commented: "We are extremely excited by the initial results from the Hilux Zone at Al Miyah, which demonstrates the strong gold potential of this newly discovered area. The impressive grades from surface samples highlight the opportunity for significant exploration success, and we look forward to advancing our work at Al Miyah and across our other projects in Saudi Arabia."

Map 1. Sun Peak KSA Projects Location Map

Hilux

The newly discovered Hilux Zone comprises an approximately 6 kilometer north-south trend marked by ar�sanal mining, including hand-dug sha�s and pits, excava�ons, and placer workings. Ini�al analy�cal results from rock-chip and grab sampling, and material sourced from ar�sanal workings returned very encouraging results, with values up to 6.73 g/t Au. Addi�onal field studies at Hilux will include detailed geological mapping, rock and soil sampling, and induced polariza�on (“IP”) geophysical surveys to fully evaluate the poten�al of this new zone.

Table 1. Gold assays for rock samples collected from Hilux

Map 2. Al Miyah Project Plan Map

Hishashat VMS Target

Grab samples collected from Hishashat VMS Target returned up to 1.53% Cu, 1.45 g/t Au and 29.8 g/t Ag. Addi�onal grab and sub-crop samples collected 1.9 km and 0.7 km along trend to the south, returned encouraging values of 5.01 % and 0.93 % Cu, respec�vely, and are interpreted as copper-bearing stringer zones related to a Volcanogenic Massive Sulphide system (“VMS”). Previous sampling at Hishashat returned up to 4.53 g/t Au, 3.72% Cu and 42.2g/t Ag (see news release dated January 13, 2026).

Concurrently with the surface sampling and geological mapping program, a total of 600 ground TDEM sta�ons were conducted over the Hishashat VMS Target trend and associated ground gravity high anomalies within a rela�vely flat sediment basin (wadi). The Company considers results from the ground TDEM survey to be very encouraging, with follow up work including a trenching program designed to expose bedrock beneath sand covered areas. Addi�onal work at Hishashat will include ground gravity infill sta�ons and line extension sta�ons to the east and south.

Table 2. Gold assays for rock samples collected recently from Hishashat (this news release)

Al Miyah Main VMS Target

Detailed geological mapping was conducted at Al Miyah Main, outlining 4 separate VMS gossan lenses over a 300m north-northwest trend. Previous grab sampling from the VMS gossans returned up to 4.53 g/t Au, 3.72 % Cu, and 42.2 g/t Ag (see news release dated January 13, 2026). Addi�onal sampling by the Company at Al Miyah Main returned up to 0.94 g/t Au, 4.8 g/t Ag, 0.8 % Cu and 0.24 % Zn.

The company is planning the first ever ground-gravity survey at Al Miyah Main, covering the full strike length of the zone, including poten�ally prospec�ve areas to the north and south along its trend.

Regional Explora�on at Al Miyah

Sun Peak has also conducted ini�al regional reconnaissance prospec�ng on the Al Miyah Project. New target areas were iden�fied by the explora�on team, which include results up to 2.5 g/t Au from an approximately 1m wide altera�on zone exposed in a hand-dug ar�sanal pit, and 1.49 % Cu from a malachite-stained diabase dyke.

Follow-up work by the Company will include rock sampling and regional geological mapping to assess the mineral poten�al surrounding each area. Property-wide airborne electromagne�c, magne�c, and radiometric surveys are planned immediately following final approval of permits.

Qualified Person

Arron Albano, P. Geo., is the Qualified Person overseeing Sun Peak’s explora�on 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 prac�ces. Rock samples are delivered directly to Al-Amri Labs in Jeddah, Kingdom of Saudi Arabia (KSA) for analysis for gold by fire assay and mul�-element analyses, including silver, by induc�vely coupled plasma (ICP).

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 controls 1,072 km² across 13 exploration licenses covering highly prospective ground along established VMS and gold trends, with a further ~200 km² under application. 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) are held in jointventure 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): [email protected]

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 forwardlooking 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 largescale 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 forwardlooking 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+.