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Sun Peak Metals Awarded 100% Ownership of Seven New Exploration Licenses Totaling 632 km2 in Saudi Arabia
VANCOUVER, BC / ACCESS Newswire / March 31, 2026 / Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:S...
About this update from Sun Peak Metals Corp.
[{"type":"text","content":"Sun Peak Metals Awarded 100% Ownership of Seven New Exploration Licenses Totaling 632 km2 in Saudi ArabiaVANCOUVER, BC / ACCESS Newswire / March 31, 2026 / Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:SUNPF) (\"Sun Peak\" or the \"Company\") today announced the acquisition of seven exploration licenses totaling 632 km² through the Kingdom of Saudi Arabia's Round 9 licensing auction. The licenses awarded significantly expand Sun Peak's footprint within the Arabian-Nubian Shield, with the Company now holding 1,072 km² across 13 exploration licenses in Saudi Arabia.Round 9 Highlights:Seven licenses covering 632 km², awarded to Sun Peak as the winning bidder of the Saudi Arabian Ministry of Industry and Mineral Resources (\"MIMR\") Round 9 Licensing Auction and finalized on March 26, 2026.Located within prospective trends 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).License areas host numerous historical mineral showings, VMS gossans, and strong hydrothermal alteration zones along VMS trends.Initial exploration on the new licenses has begun and will include detailed geological mapping, rock and soil geochemical sampling, trenching, and ground/airborne geophysical surveys.Sun Peak now holds 1,072 km² across 13 exploration licenses in Saudi Arabia which have been carefully selected and cover highly prospective ground along established VMS and gold trends, with a further ~200 km² under application (Figures 1 and 2).Greg Davis, CEO of Sun Peak Metals, stated: \"Sun Peak's Round 9 strategy was driven by extensive geological research, data analysis, remote sensing and multiple site visits. The selected license areas demonstrate high potential for both VMS and orogenic gold mineralization within favorable geologic environments. We are pleased to have secured these licenses, with initial fieldwork already underway, and we look forward to providing further updates as we advance our exploration programs.\"The southernmost licenses are located adjacent to the Bulghah gold mine, with the Nuqrah VMS deposit approximately 12 km to the north and the Sukhaybarat gold mine approximately 32 km to the east.Figure 1. Existing Sun Peak Licenses and License Applications in Saudi Arabia Figure 2. Seven Licenses Awarded ...