Sun Peak Metals and Saudi Discovery Announce Strategic Business Combination

Sun Peak Metals Corp. (TSXV:PEAK) and Saudi Discovery Company SPV Limited (SDC) have announced a non-binding Letter of Intent to merge their operations. This combination aims to form a leading exploration and development company in the Arabian-Nubian Shield. The merger will capitalize on SDC's exploration licenses in Saudi Arabia and Sun Peak's expertise in Ethiopia's mineral-rich terrain.

SDC holds six exploration licenses covering 340 km² with additional pending licenses. Focus lies on gold-copper VMS trends and orogenic gold targets. Sun Peak's Shire Project in Ethiopia spans 1,450 km². The merged entity will harness complementary skills and resources to drive exploration activities aggressively.

The combined company, headquartered in Vancouver, will feature a seven-member board, leveraging both firms' regional and technical expertise. Sun Peak aims to quickly advance exploration under this partnership, aligning with Saudi Arabia's Vision 2030.