Sun Peak Metals Awarded 100% Ownership of Seven New Exploration Licenses Totaling 632 km2 in Saudi Arabia

Core Insights - Sun Peak Metals Corp. has been awarded 100% ownership of seven new exploration licenses totaling 632 km² in Saudi Arabia, significantly expanding its footprint in the region [2][3] - The company now holds a total of 1,072 km² across 13 exploration licenses in Saudi Arabia, with an additional ~200 km² under application [5][9] Licensing Details - The licenses were acquired through the Saudi Arabian Ministry of Industry and Mineral Resources' Round 9 licensing auction, finalized on March 26, 2026 [3] - The new licenses are strategically located near the Bulghah and Sukhaybarat gold mines and the Nuqrah volcanogenic massive sulfide (VMS) deposit, all owned by the Saudi Arabian Mining Company (Ma'aden) [3][7] Exploration Plans - Initial exploration activities on the new licenses have commenced, including geological mapping, geochemical sampling, trenching, and geophysical surveys [4][6] - The selected license areas are believed to have high potential for both VMS and orogenic gold mineralization [6] Company Background - Sun Peak Metals holds district-scale VMS base metal and gold projects in Saudi Arabia and Ethiopia, with a focus on the Arabian-Nubian Shield [8] - The company's Shire Project in Ethiopia encompasses six exploration licenses totaling approximately 1,450 km² [9]