Element 29 Announces Election of Randy Smallwood and George Brack to Its Board of Directors

The Torrey Hills option grant could dilute holders if exercised, while both marketing agreements await exchange approval.

Rhea-AI Summary

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.

4 points · 0 major

MixediHow this balance works

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 5 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Minor pointRandy Smallwood and George Brack joined the seven-member board as independent directors; each received 100% of votes cast.
• Minor pointShareholders approved the 10% rolling stock option plan with 97.44% support.
• Minor pointAn amended Torrey Hills agreement retains the firm for investor-awareness work.
• Minor pointA one-year Mining Stock Education agreement covers branding and sponsorship.

Negative

• Moderate point. Forward-looking: it has not happened yet and may not happen.The 10% rolling stock option plan permits future option grants that could dilute holders.
• Minor point. Forward-looking: it has not happened yet and may not happen.100,000 Torrey Hills options exercisable at $1.79 per share could dilute holders if exercised.
• Minor point. Forward-looking: it has not happened yet and may not happen.US$3,000 per month is payable to Torrey Hills for an initial six months, with automatic six-month renewals unless cancelled.
• Minor point. Forward-looking: it has not happened yet and may not happen.US$30,000 up front and US$90,000 in January 2027 are payable to Mining Stock Education.
• Minor pointBoth marketing agreements remain subject to TSX Venture Exchange approval and acceptance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Shareholders Approve All Resolutions at Annual General Meeting

Vancouver, British Columbia--(Newsfile Corp. - September 28, 2026) - Element 29 Resources Inc. (TSXV: ECU) (OTCQX: EMTRF) (BVL: ECU) ("Element 29" or the "Company") is pleased to announce that Randy Smallwood and George Brack have been elected to its Board of Directors at the Company's annual general meeting of shareholders (the "AGM") held on September 25, 2026. Mr. Smallwood and Mr. Brack each received 100% of the votes cast on their election, with no votes withheld.

Brad Mercer, Chair of the Board, said: "We welcome Randy Smallwood and George Brack to the Board and look forward to working with them. Their experience in mining, corporate development and finance will complement the expertise of our returning directors. I would also like to thank our shareholders for their support and my fellow returning directors for their continued service to the Company."

Randy Smallwood is the non-executive Chair of Wheaton Precious Metals Corp., where he served as Chief Executive Officer from 2011 to 2026. He was involved in Wheaton's founding and growth and previously held senior roles with Wheaton River Minerals Ltd. and Goldcorp.

George Brack is the Lead Independent Director and former Chair of Wheaton Precious Metals Corp. He previously chaired Capstone Mining Corp. and brings 35 years of mining industry experience across exploration, corporate development and investment banking, including mergers and acquisitions and equity financing.

Mr. Smallwood and Mr. Brack join the Company's seven-member Board as independent directors, serving alongside non-executive Chair Brad Mercer, independent directors Patrick Elliott, Mary-Carmen Vera and Chet Idziszek, and executive director Richard Osmond.

Annual General Meeting Results

Shareholders approved all matters presented at the AGM, including setting the number of directors at seven, electing all director nominees, appointing the auditor and approving the Company's 10% rolling stock option plan. The stock option plan received 97.44% of votes in favour. A total of 69,080,645 common shares, representing 36.55% of the Company's issued and outstanding common shares as at the record date, were represented at the meeting.

Marketing Agreements

Element 29 has entered into an amended agreement with Torrey Hills Capital ("Torrey Hills"), effective immediately. Torrey Hills has been retained to increase awareness about the Company through its established relationships with investment professionals, investment advisors, and money managers in the United States. The original agreement with Torrey Hills commenced on February 7, 2025, the details of which were disclosed in Element 29's press release dated February 10, 2025. Commencing today, Element 29 will pay Torrey Hills a cash fee of US$3,000 per month, for an initial term of six months, which will automatically renew in six-month intervals unless otherwise cancelled. In addition to the monthly cash fee, Element 29 has granted Torrey Hills an aggregate of 100,000 stock options (the "Options") exercisable from common shares of the Company ("Common Shares") at a price of $1.79 per share for a period of three (3) years from the date of grant pursuant to the Company's stock option plan. In accordance with applicable TSX Venture Exchange ("TSXV") policies, the Options will vest as follows: (i) 25% on the three-month anniversary of the grant date; (ii) 25% on the six-month anniversary; (iii) 25% on the nine-month anniversary; and (iv) 25% on the twelve-month anniversary. To Element 29's knowledge and apart from the aforementioned Options, neither Torrey Hills nor its principals has any interest, directly or indirectly, in Element 29 or its securities, or any right or intent to acquire such an interest; however a consultant engaged with Torrey Hills holds 435,000 Common Shares.

Element 29 has also entered into an agreement with Mining Stock Education LLC ("MSE"), effective immediately, for corporate branding and sponsorship on MSE's website, social media channels, and certain other communication channels owned by MSE. The term of MSE's engagement is for one year and Element 29 will pay MSE a cash fee of US$30,000 due up front and US$90,000 due in January, 2027. To Element 29's knowledge, neither MSE, nor its principal, William Powers, has any interest, directly or indirectly, in Element 29 or its securities, or any right or intent to acquire such an interest.

Both the agreements with Torrey Hills and MSE are subject to approval and acceptance by the TSX Venture Exchange.

About Element 29 Resources Inc.

Element 29 Resources Inc. is a copper exploration company advancing a portfolio of projects in Peru, highlighted by one of the country's most significant recent discoveries. Led by a seasoned and accomplished executive team and Board, the Company is advancing its flagship Elida porphyry copper-molybdenum-silver deposit through resource expansion, de-risking and continued exploration for new discoveries. The portfolio also includes the Flor de Cobre, Paka and Pahuay projects. All are located at low elevations near established infrastructure that supports exploration and potential future development. Element 29 applies a disciplined, geology-led approach to resource growth and discovery.

Driven by Discovery. Defined by Discipline.

On Behalf of the Board of Directors:

"Richard Osmond, P.Geo."
President, CEO and Director

For media enquiries or more information on this press release, please contact:

Dylan Berg VP Investor Relations & Marketing +1 (888) 246-7881 dberg@e29copper.com

Kevin Guichon Investor Relations Consultant +1 (888) 246-7881 kguichon@e29copper.com

 

More information is available at www.e29copper.com.

Neither the TSX Venture Exchange (the "TSX-V") nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain forward-looking information and forward-looking statements within the meaning of applicable Canadian securities legislation (collectively, "Forward-looking Statements"). Any statements that are contained in this press release that are not statements of historical fact may be deemed to be Forward-looking Statements. Forward-looking Statements are frequently, but not always, identified by words such as "may", "will", "intends", "proposed", "believes", "continues", "plans", "expects" or similar expressions (or the negative and grammatical variations of any of these terms). Forward-looking Statements in this press release include, but are not limited to, statements with respect to the AGM and the proposed election of directors, the Company's resource properties and future capital requirements; and the Company's plans, focus and objectives.

Forward-looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. Although Element 29's management considers these beliefs and assumptions reasonable based on currently available information, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking Statements necessarily involve known and unknown risks, and important factors, among others, that could cause actual results to differ materially from the Company's expectations include: the timeliness and success of regulatory approvals; fluctuations in copper and other commodity prices; uncertainties inherent in the exploration of mineral properties; risks associated with general economic conditions; changes in legislation, income tax and regulatory matters; currency and interest rate fluctuations; inability to access sufficient capital from internal and external sources; and other risk factors set forth in the Company's prospectus under the heading "Risk Factors".

Readers are further cautioned not to place undue reliance on Forward-looking Statements as there can be no assurances that the plans, intentions or expectations upon which they are placed will occur. The Company undertakes no obligation to update or revise any Forward-looking Statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Element 29 to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-looking Statements contained in this press release are expressly qualified in their entirety by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316425