XXIX Announces Fully Funded Drilling and Development Plans for Opemiska and Thierry

Rhea-AI Summary

XXIX Metal Corp (OTCQB:QCCUF) has announced fully-funded exploration programs at its Opemiska and Thierry Copper Projects. The company plans a 15,000-metre drill program at the K1 deposit (Thierry) in Winter 2025 and a 5,000-metre drill program at Cooke (Opemiska) in Fall 2025.

The K1 deposit currently holds an inferred resource of 53.6 million tonnes grading 0.38% copper and other minerals. At Opemiska, the company reports a pit-constrained resource of 62.7 million tonnes at 1.04% CuEq (Indicated) and 78.4 million tonnes at 0.41% CuEq (Inferred).

A Preliminary Economic Assessment (PEA) for Opemiska, led by Ausenco, is targeted for October 2025, marking the first economic evaluation since 1991. The company is fully funded for 2025/2026 exploration following a recent $6M financing.

Positive

• Recently closed $6M financing ensures fully funded exploration for 2025/2026
• Significant resource base with 62.7M tonnes at 1.04% CuEq (Indicated) at Opemiska
• K1 deposit shows increasing copper grades with depth
• Strong infrastructure with nearby access to Horne Smelter, roads, airport, and power grid
• First economic evaluation (PEA) since 1991 coming in October 2025

Negative

• K1 deposit currently only has inferred resources of lower grade (0.38% copper)
• PEA results are pending and success is not guaranteed
• Historical mining data validation risks at Opemiska

Highlights:

• 15,000-metre drill program at K1 (Thierry Copper Project) scheduled for Winter 2025
• 5,000-metre drill program at Cooke (Opemiska) planned for Fall 2025.
• Preliminary Economic Assessment (PEA) for Opemiska targeted for October 2025, led by Ausenco, the first economic study since the mine's closure in 1991.
• XXIX is funded for 2025/2026 exploration following the recently closed $6M financing.

Toronto, Ontario--(Newsfile Corp. - August 25, 2025) - XXIX Metal Corp‎. (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) ("XXIX" or the "Company") is pleased to announce its fully-funded exploration programs at its Opemiska Copper Project and a maiden drill program at its Thierry Copper Project.

Drill Program at Thierry

XXIX is planning a drill program of up to 15,000 metres focused on the K1 deposit at Thierry. The program is designed to expand the current resource and is based on the detailed data compilation and validation work completed in February 2025. This effort produced a modern, consolidated geological model for K1, which currently hosts an inferred resource of 53.6 million tonnes grading 0.38% copper, 0.10% nickel, 0.03 g/t gold, 0.05 g/t platinum, 0.14 g/t palladium, and 1.8 g/t silver.

The new model confirms that mineralization begins at surface and has been drilled to a depth of 400 metres. K1 extends along a strike length of more than 1.4 kilometres and reaches widths of up to 260 metres. Importantly, the model highlights increasing copper grades with depth. It also incorporates 15 previously excluded drill holes, offering a more complete understanding of the deposit's geometry and potential.

This upcoming program will update the K1 resource using XXIX's more comprehensive geological model, providing a stronger foundation for future development and expansion.

Drill Program at Cooke Gold Zone at Opemiska

XXIX is planning a 5,000-metre drill program at the former Cooke gold mine area, which has not been properly tested since the mine's closure. Cooke is is a past-producing underground operation with its crown pillar intact, located 2.5 kilometres east of the proposed Opemiska pit. Historically, Cooke produced 1.97 million tonnes grading 5.04 g/t gold and 0.66% Copper^[1].

The objective of this program is to expand Opemiska's current resource base and enhance it

Preliminary Economic Assessment - October 2025

XXIX anticipates completing its Preliminary Economic Assessment (PEA) for Opemiska in October 2025, with Ausenco engaged to lead the study. This will mark the first economic evaluation of Opemiska since Falconbridge ceased underground mining in 1991. The PEA will be structured to maximize project value by prioritizing high-grade tonnes early in the proposed mine plan, with the objective of enhancing overall project returns and IRR.with the potential addition of high-grade gold. Drilling is expected to commence in Fall 2025.

‎About XXIX Metal Corp‎.

XXIX is advancing its Opemiska and Thierry Copper projects, two significant Canadian copper assets. The Opemiska Project, one of Canada's highest-grade open pitable copper deposits, spans 21,333 hectares in Quebec's Chapais-Chibougamau region, with strong infrastructure and nearby access to the Horne Smelter. A June 2025 resource update reported a pit constrained resource of 62.7 million tonnes at 1.04% CuEq (Indicated) and 78.4 million tonnes at 0.41% CuEq (Inferred), with its clean concentrates not yet allocated. The Thierry Project hosts two past-producing open pits, with one that transitioned to underground mining. Significant infrastructure is already in place, with the Thierry property being accessible via all-season road, an airport within 5km, a provincial power grid within 8km, and nearby rail. With these two high-potential projects, the Company has solidified its position as a key player in the Canadian copper sector and has established itself as one of Eastern Canada's largest copper developer.

QP Statement

The technical information contained in this news release has been reviewed and approved by Denis McNichols, P.Geo and géo., Vice President Exploration for XXIX Metal, a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects.

For further information, please contact:

Guy Le Bel, Chief Executive Officer
Phone: 514.654.8550
Email: glebel@oregroup.ca

Forward-Looking Statements

This news release contains certain forward-looking statements, including statements about the Company's belief that Opemiska has potential for continued growth, any anticipated timelines for the completion of a Preliminary Economic Assessment at Opemiska, various cost, price and production assumptions used to inform the Mineral Resource Estimate cut-off grade, and outstanding risk factors, including Opemiska's Proximity to the Town of Chapais, Historical Assay validation, Geotechnical considerations of open stopes in the eastern pit wall, the Venture sill, the Gwillim fault, host rock competency and Historical Stope Modeling. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company's plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

---

^[1] Morin, R. DV90-01, Energie et Ressources Naturelle Québec, Edition L. Blais-Leroux, p. 75

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263723

FAQ

What are XXIX Metal's planned drilling programs for 2025?

XXIX Metal plans a 15,000-metre drill program at K1 (Thierry) in Winter 2025 and a 5,000-metre drill program at Cooke (Opemiska) in Fall 2025.

What is the current resource estimate for XXIX Metal's Opemiska project?

Opemiska has a pit-constrained resource of 62.7 million tonnes at 1.04% CuEq (Indicated) and 78.4 million tonnes at 0.41% CuEq (Inferred).

When will XXIX Metal (QCCUF) complete the Preliminary Economic Assessment for Opemiska?

The PEA for Opemiska, led by Ausenco, is targeted for completion in October 2025. This will be the first economic evaluation since 1991.

How is XXIX Metal funding its 2025 exploration programs?

The company recently closed a $6M financing which fully funds its exploration programs for 2025/2026.

What is the current resource at XXIX Metal's K1 deposit?

The K1 deposit has an inferred resource of 53.6 million tonnes grading 0.38% copper, 0.10% nickel, and various precious metals, with mineralization extending from surface to 400 meters depth.