Sun Peak Metals Begins Diamond Drill Program at Safra VMS Project

11:45 AM EDT, 10/22/2026 (MT Newswires) -- Sun Peak Metals (PEAK.V) started a 3,000-meter diamond drill program with two drills now underway at its Safra copper-zinc-gold-silver volcanogenic massive sulphide (VMS) Project in Saudi Arabia, it said Thursday. The company said drilling will test extensions of Safra Main, the untested Safra North gravity anomaly, and Safra East, a parallel VMS trend approximately 1.5 kilometers east of Safra Main. "Our initial drilling at Safra Main intersected broad continuous zones of copper, zinc, gold and silver VMS mineralization, providing clear follow-up targets for the second phase of drilling," said Arron Albano, exploration manager of Sun Peak. "We are now testing extensions of that mineralization along strike and at depth, together with the priority anomalies at Safra North and Safra East." The company said it also planned a maiden drill program at Al Miyah following completion of the Safra program, targeting the Hishashat VMS target, as well as the Al Miyah Main VMS and Hilux gold targets. The company is also advancing the Washaq VMS target, NGZ gold target and other priority targets toward potential drilling in early 2027, it added. "Sun Peak continues to monitor developments in the region," said Sun Peak Metals. "The Company's current exploration activities and planned work programs in Saudi Arabia remain unaffected, and field operations are continuing as scheduled." The company's shares were last seen down CA$0.025, or 6.9%, at CA$0.335 on the TSX Venture Exchange. Price: 0.34, Change: -0.03, Percent Change: -6.94