Element 29 Renews IR Consultant Agreement and Engages Market Maker
Rhea-AI Summary
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.
Positive
- 12-month IR agreement with PGSA at $10,000 first month, then $6,000
- Market-making agreement with Velocity Trade at $8,000 per month
- 43 drill holes totaling 28,079 m completed at Elida project
- Elida Inferred MRE of 321.7 Mt at 0.32% Cu, 0.029% Mo, 2.61 g/t Ag
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - July 3, 2026) - Element 29 Resources Inc. (TSXV: ECU) (OTCQB: EMTRF) (BVL: ECU) ("Element 29" or the "Company") today announced it has entered into an Investor Relations ("IR") Consultant Agreement with Port Guichon Strategic Advisory ("PGSA"), as well as an agreement with Velocity Trade Capital Ltd. ("Velocity Trade") to provide market-making services to the Company in accordance with applicable securities laws and the policies of the TSX Venture Exchange ("Exchange").
IR Consultant Agreement
The renewal of the IR Consulting Agreement with PGSA starts July 3rd, 2026, for a term of 12 months, and includes consideration of
Market Maker Agreement
In consideration for the market liquidity services, Element 29 has agreed to pay Velocity Trade a monthly fee equal to
Velocity Trade will manage trading of the Company's shares from time to time for the purpose of maintaining an orderly market, with a view to reducing trading volatility and improving the liquidity of the Company's shares. The funding and securities required for these services undertaken will be provided by Velocity Trade.
Velocity Trade and Element 29 are not related parties and have no other agreements other than the market liquidity agreement, which is the subject of this news release. The agreement with Velocity Trade is subject to acceptance of the TSX Venture Exchange.
Elida Project Update
Diamond drilling continues at Elida with two drill rigs on site. The Company has completed 43 drill holes for 28,079 metres ("m") of diamond drilling to date on the Elida deposit, including 4,856 m completed in 2026. Core assay results are pending for holes ELID042, ELID043 and the extension of ELID035.
Based on just 14,361 m of drilling, Element 29 completed an independent, pit-constrained Inferred Mineral Resource Estimate¹ ("MRE") on the Elida deposit in late 2022, which outlined 321.7 million tonnes of
About Element 29 Resources Inc.
Element 29 is an emerging junior resource company with a highly experienced management team and board focused on exploring and potentially developing copper deposits in Perú, one of the lowest-cost, lowest-risk mining jurisdictions globally.
The Company's principal objective is to explore and significantly expand its Elida Porphyry Cu-Mo-Ag Deposit in west-central Perú. Alongside Elida, the Company has three early stage, highly prospective porphyry Cu projects in Perú for more than 27,000 ha of titled concession. These include the Flor de Cobre porphyry Cu-Mo prospect situated in the Southern Perú Copper Belt, just 26 km from the Cerro Verde copper mine (Freeport-Buenaventura)2 as well as the Paka and Pahuay porphyry Cu skarn prospects related to potential tertiary-aged, mineralized porphyry complexes intruding along the eastern margin of the Peruvian Coastal Batholith.
All projects are well located for future mine development and will benefit from nearby infrastructure including roads, powerlines, ports, water, and a skilled workforce.
Notes:
- The Mineral Resource Estimate information is available in "NI 43-101 Technical Report, Mineral Resource Estimation of the Elida Porphyry Copper Project in Perú" dated September 20, 2022, and prepared in accordance with Form 43-101F1 by Marc Jutras, P.Eng., M.A.Sc., Ginto Consulting Inc.
- This news release contains information about adjacent properties on which Element 29 has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
On Behalf of the Board of Directors:
"Richard Osmond, P.Geo."
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 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: uncertainties related to the Company's ability to access investors for the Financing; 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/303899