Element 29 Resources Inc. reports news tied to mineral exploration and project advancement in Perú, led by the Elida Porphyry Copper-Molybdenum-Silver Deposit in central Perú. Recurring updates cover diamond drilling results, mineralized intercepts, resource modelling, metallurgical test work, environmental certification and exploration permitting for the Elida porphyry Cu-Mo-Ag system.
The company also reports corporate and capital-structure developments, including incentive grants, investor relations appointments, operating and financial results, and updates on its broader Peruvian copper portfolio, which includes Flor de Cobre and the Paka and Pahuay porphyry Cu-skarn prospects.
Element 29 Resources (EMTRF) has granted 1,150,000 stock options to certain directors and a consultant under its option plan.
Each option permits the purchase of one common share at $1.75, the October 23, 2026 closing share price, for five years from the grant date. The company also granted 190,000 deferred share units (DSUs) to certain eligible persons under its long-term incentive plan. These units vest and settle under that plan, with settlement subject to any required regulatory approvals. All grants are subject to TSX Venture Exchange acceptance and applicable securities laws.
Element 29 Resources (EMTRF) has mobilized a third drill rig to its Elida copper-molybdenum-silver project in Peru, beginning exploration of Zone 4.
Two rigs are extending drilling westward from Zone 1 to evaluate potential resource expansion. The company aims to exceed its 10,000-metre 2026 drilling target, plans to continue into 2027 and may add a fourth rig. It expects cumulative drilling to exceed 30,000 metres, more than twice the drilling supporting the initial inferred mineral resource estimate.
Results will guide follow-up targeting, with Zones 2 and 3 planned for testing after initial Zone 4 drilling. Resource modelling and metallurgical tests with Synectiq are planned to support an updated resource estimate and future technical studies. Element 29 intends to seek amendments to its environmental certification and drill permit to expand capacity from 40 to up to 60 platforms, subject to regulatory approval.
Element 29 (EMTRF) elected Randy Smallwood and George Brack as independent directors at its September 25, 2026, annual meeting. Each received 100% of votes cast on his election, and both joined the seven-member board. Shareholders approved all meeting resolutions, including a 10% rolling stock option plan that received 97.44% support.
Element 29 also amended its Torrey Hills investor-awareness agreement. The company will pay US$3,000 per month for an initial six-month term that renews automatically in six-month intervals unless cancelled. It granted Torrey Hills 100,000 options to buy common shares at $1.79 per share for three years. A separate one-year branding and sponsorship agreement with Mining Stock Education calls for US$30,000 up front and US$90,000 in January 2027. Both marketing agreements remain subject to TSX Venture Exchange approval and acceptance.
Element 29 Resources (EMTRF) has qualified to upgrade its U.S. listing from the OTCQB Venture Market to the OTCQX Best Market, operated by OTC Markets Group. The company describes this as an important step in expanding access to its common shares for U.S. investors while it advances its copper projects in Peru.
Element 29 is focused on the Elida Porphyry Cu-Mo-Ag deposit in west-central Peru, which has an initial pit-constrained inferred Mineral Resource Estimate of 321.7 million tonnes grading 0.32% Cu, 0.03% Mo and 2.61 g/t Ag at a 0.2% Cu cutoff grade. The company also holds three early-stage porphyry copper projects: Flor de Cobre, Paka and Pahuay, all located near existing infrastructure.
Element 29 Resources (EMTRF) added Randy Smallwood and George Brack as management nominees for election to its board of directors at the virtual annual general meeting on September 25, 2026.
Subject to shareholder approval of all management nominees, Smallwood and Brack are expected to join as independent board members alongside non-executive Chair Brad Mercer, independent directors Patrick Elliott, Mary-Carmen Vera and Chet Idziszek, and executive director Richard Osmond. The AGM will be held at 10:00 a.m. Pacific Time, with pre-registration required before 10:00 a.m. Pacific Time on September 23, 2026. The company highlights its Elida Porphyry Cu-Mo-Ag Deposit in Peru, which has an initial pit-constrained inferred mineral resource estimate of 321.7 million tonnes grading 0.32% Cu, 0.03% Mo and 2.61 g/t Ag at a 0.2% Cu cutoff grade.
Element 29 Resources (OTCQB: EMTRF) has received an upgraded Permiso de Inicio de Actividades (PIA) drill permit from Peru’s Ministerio de Energía y Minas for its Elida porphyry Cu-Mo-Ag project in central Peru. The DIA-based permit authorizes up to 40 drill platforms over five years, doubling the previous 20-platform capacity and supporting a planned 10,000-metre diamond drilling program, of which more than 4,885 metres have been completed with two rigs operating.
According to Element 29, the larger drilling footprint will allow systematic testing of a cluster of five porphyry targets and support Mineral Resource growth. Recent regulatory changes (Decreto Supremo N.º 014-2026-EM) create a pathway to increase permitted platforms to up to 60 via a DIA amendment, which the company intends to pursue to expand drilling towards Zones 5 and 6. Elida hosts an initial pit-constrained inferred Mineral Resource Estimate of 321.7 million tonnes grading 0.32% Cu, 0.03% Mo and 2.61 g/t Ag at a 0.2% Cu cut-off.
Element 29 (OTCQB: EMTRF) reported new diamond drilling results from its Elida porphyry Cu-Mo-Ag deposit in central Peru, highlighted by hole ELID035, which intersected 1,534.6 m grading 0.58% CuEq from 56.6 m to 1,591.2 m, the longest continuous mineralized interval drilled at Elida to date.
Within ELID035, key intervals include 1,071.1 m at 0.61% CuEq from 520.2 m and 508.0 m at 0.64% CuEq from 1,083.2 m, extending mineralization more than 1,000 m beyond the current Mineral Resource Estimate limits. Hole ELID042 returned 805.8 m at 0.36% CuEq, extending mineralization over 500 m beyond the existing pit shell, while ELID043 intersected 343.8 m at 0.30% CuEq and remains open at depth. The Company has completed 14,885.5 m of drilling in its 2026 program, is advancing an upgraded environmental permit expected to allow up to 60 drill platforms over five years, and is conducting metallurgical test work to support future Mineral Resource updates and engineering studies.
Element 29 (OTCQB:EMTRF, TSXV:ECU) renewed its Investor Relations agreement with Port Guichon Strategic Advisory for 12 months from July 3, 2026, at $10,000 for the first month and $6,000 thereafter, subject to TSXV approval. The company also engaged Velocity Trade as market maker for $8,000 per month, with a 60-day initial period and 30-day termination notice, subject to Exchange acceptance. At the Elida project, 43 drill holes totaling 28,079 m have been completed, including 4,856 m in 2026, with assays pending for several holes. An earlier pit-constrained Inferred Mineral Resource, based on 14,361 m of drilling, outlined 321.7 Mt at 0.32% Cu, 0.029% Mo and 2.61 g/t Ag at a 0.2% Cu cut-off.
Element 29 (OTCQB: EMTRF) engaged Synectiq to update mineral resource modelling and design/manage metallurgical test work for the Elida Cu-Mo-Ag deposit in Peru. The program targets an updated Mineral Resource Estimate by year-end, subject to receipt, validation and interpretation of Phase 3 drilling and other data.
The metallurgical program will include representative sample selection, comminution, mineralogical characterization and flotation testing to produce preliminary recovery parameters for future technical studies.
Element 29 Resources (OTCQB: EMTRF) appointed Mr. Dylan Berg as Vice President, Investor Relations and Marketing, effective May 1, 2026. According to the company, Berg will lead investor outreach and marketing as Element 29 advances its Peruvian copper portfolio, including the Elida porphyry copper deposit.