XXIX Appoints Guy Le Bel to its Board of Directors

Rhea-AI Summary

XXIX Metal Corp (OTCQB: QCCUF) announced on November 10, 2025 that Guy Le Bel has been appointed to the board, effective immediately, and that Simon Kidston has stepped down.

XXIX highlighted its October 2025 Preliminary Economic Assessment (PEA) for the Opemiska project: a 12,500 tpd open-pit plan over a 17-year mine life with an after-tax NPV8% of $505M, IRR 27.2% and a 2.3-year payback using copper at $4.35/lb, gold at $3,000/oz and silver at $30/oz. The release notes Opemiska uses inferred resources and contains customary forward-looking disclosures.

Positive

• PEA NPV of $505M (after-tax, 8% discount)
• IRR of 27.2% reported in October 2025 PEA
• Short payback period of 2.3 years
• 12,500 tpd planned open-pit production rate
• 17-year projected mine life at Opemiska

Negative

• PEA relies on inferred mineral resources, considered speculative
• PEA economics depend on assumed metal prices ($4.35/lb Cu)
• No guarantee of access to CTM-ITC tax credit

11/10/2025 - 06:00 AM

Toronto, Ontario--(Newsfile Corp. - November 10, 2025) - XXIX Metal Corp‎. (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) ("XXIX" or the "Company") is pleased to announce that Guy Le Bel, CEO of XXIX Metal Corp. has been appointed to the Company's Board of Directors, effective immediately.

"We are pleased to welcome Guy to XXIX's board of directors. His contributions to date have been critical in successfully progressing the Company's Opemiska project, from an updated resource estimate June 2025 to the successful completion of a robust preliminary economic study in October 2025. Guy's appointment strengthens the Company's corporate governance in all facets," said Stephen Stewart, Chairman of XXIX Metal Corp.

In addition to his involvement in XXIX, Guy's current appointments include Director at Kintavar Exploration Inc. and Director at Sirios Resources Inc.

XXIX also announces that Simon Kidston has stepped down as Director. The Company thanks Simon for his contributions, support and guidance over the past few years, and throughout transformative periods, including its acquisition of Cuprum Corp. and the Thierry Copper Project.

‎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. An October 2025 Preliminary Economic Assessment outlined a 12,500 tpd open pit operation over a 17-year mine life, generating an after-tax NPV8% of $505M, IRR of 27.2%, and a 2.3-year payback period ($4.35/lb copper price, $3,000/oz gold price, $30/oz silver price). The Thierry Project hosts the K1 (near-surface) and the past-producing K2 (underground & surface) zones (see XXIX news release dated October 1, 2024 for details regarding resources). Thierry has significant infrastructure in place including an 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.

For further information, please contact:

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

Forward-Looking Statements

The reader is advised that the Preliminary Economic Assessment (PEA) summarized in this news release is intended to provide only an initial, high-level review of Opemiska's economic potential. The PEA mine plan and economic model include numerous assumptions and the use of inferred mineral resources. Inferred mineral resources are considered to be too speculative to be used in an economic analysis except as allowed for by NI 43-101 in PEA studies. There is no guarantee that inferred mineral resources can be converted to indicated or measured mineral resources, and as such, there is no guarantee Opemiska's economics described herein will be achieved. XXIX may be eligible for Clean Technology Manufacturing Investment Tax Credit (CTM-ITC). This legislation has been enacted on June 20, 2024. There is no guarantee the Company will be able to access the CTM-ITC.

This news release contains certain forward-looking statements, including statements about the Company's belief that Opemiska has potential for continued growth, various cost, price and production assumptions used to inform the PEA, 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.

Non-IFRS Financial Measures

XXIX has included certain non-IFRS financial measures in this news release, such as C1 Cash Cost which are not measures recognized under IFRS and do not have a standardized meaning prescribed by IFRS. As a result, these measures may not be comparable to similar measures reported by other corporations. Each of these measures used are intended to provide additional information to the user and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273771

FAQ

Who joined XXIX Metal Corp's board on November 10, 2025 and what is his role?

Guy Le Bel was appointed to XXIX's board effective November 10, 2025; he is also CEO of XXIX Metal Corp.

What are the key PEA metrics for XXIX (OTCQB: QCCUF) Opemiska announced October 2025?

Opemiska PEA shows NPV8% $505M, IRR 27.2%, 2.3-year payback, 12,500 tpd and 17-year mine life.

Does the October 2025 PEA for XXIX use inferred resources and why does that matter?

Yes; the PEA uses inferred mineral resources, which are speculative and may not convert to mineable reserves.

What metal price assumptions did XXIX use in the Opemiska PEA?

The PEA used $4.35/lb copper, $3,000/oz gold and $30/oz silver in its base case.

How might Guy Le Bel's board appointment affect XXIX (QCCUF) governance?

The company said the appointment strengthens corporate governance, citing his role advancing Opemiska studies.

Is access to the Clean Technology Manufacturing Investment Tax Credit (CTM-ITC) guaranteed for XXIX?

No; the release states there is no guarantee the company will be able to access the CTM-ITC.