February 22, 2023 – Vancouver - Sun Peak Metals Corp. (the “Company” or “Sun Peak”) (TSXV:PEAK | OTCQB:SUNPF) reports that the board of directors of Sun Peak granted a total of 2,150,000 incentive stock options of the capital stock of the Company to directors, officers, employees and consultants exercisable for up to a five year period at an exercise price of $0.26, being the closing share price on February 21, 2023, pursuant to the Company’s shareholder approved stock option plan.

ON BEHALF OF THE BOARD OF DIRECTORS OF SUN PEAK METALS CORP.

Greg Davis

President, CEO & Director