Drilling Activities Planned On The Shire Project

VANCOUVER - Sun Peak Metals Corp reported an outlook for planned diamond drilling exploration activities for the remainder of 2020 at the Company's gold and base metal Shire Project, located in Tigray Regional State, Ethiopia. The program will consist of approximately 8,000 meters of diamond drilling, utilizing three drills scheduled to begin October 2020. One drill will focus on the Meli VMS project, located about 40 km southwest of the town of Shire. This drilling will target the extension of the gold and copper VMS style mineralization at the Meli Eastern gossan that was drill tested with 7 shallow holes in March of this year, as well as other targets in the immediate vicinity. The drill highlights from these 7 drill holes are: ML-001 - 15.30 meters averaging 3.18 g/t gold, 25.0 g/t silver, 2.2% copper, and 1.4% zinc; ML-002 - 37.23 meters averaging 2.45 g/t gold, 29.4 g/t silver, 2.4% copper, and 1.3% zinc; ML-003 - 35.43 meters averaging 2.52 g/t gold, 22.3 g/t silver, 1.8% copper, and 1.5% zinc; & In addition, two drills will be testing key gold and base metal VMS targets, developed during exploration work previously conducted by the Company on the Terer and Nefasit exploration licenses, located 40 km north of the town of Shire.

"For almost 20 years, our team has been refining our exploration techniques for VMS deposits in the Arabian-Nubian Shield. That work is culminating in our next Shire Project drill program," said Greg Davis, President and CEO. "Over the final months of 2020 we will drill test several of the high priority gold and copper targets that have been developed over the last several of years."