XXIX Delivers Strong Gold-Copper Results at Cooke, Advancing Potential Satellite Feed for Opemiska

Rhea-AI Summary

XXIX Metal (OTCQB: QCCUF) reported initial Cooke Zone drill results on February 27, 2026, returning multiple gold-copper-silver intercepts including 6.40 m at 3.63 g/t Au, 3.50 g/t Ag and 0.27% Cu (COR-25-38).

Drilling confirmed two parallel shear-hosted mineralized zones across ~700 m strike, supporting tighter-spaced follow-up drilling aimed at advancing Cooke toward a maiden Mineral Resource Estimate to potentially supply satellite feed to Opemiska.

Positive

• Intercept of 6.40 m @ 3.63 g/t Au, 3.50 g/t Ag, 0.27% Cu (COR-25-38)
• Multiple holes intersected two parallel mineralized zones across ~700 m strike
• Expanded program targets ~10,000 m of drilling to delineate crown pillar

Negative

• True thicknesses are unknown for reported intersections
• Cooke mineralization shows high local variability due to nuggety, veinlet style

Highlights:

• 3.63 g/t gold, 3.50 g/t silver and 0.27% copper over 6.40 metres from 61.2 metres (COR-25-38)
• Mineralization interpreted as two parallel shear-hosted zones with gold-bearing veins and veinlets, a distinct style from Springer and Perry
• Results support tighter-spaced follow-up drilling to advance Cooke toward a Maiden Mineral Resource Estimate (MRE)

Toronto, Ontario--(Newsfile Corp. - February 27, 2026) - XXIX Metal Corp‎. (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) ("XXIX" or the "Company") is pleased to report initial drill results from the Cooke Zone, located approximately 2 kilometres east of the Company's envisioned Opemiska open pit. These early results confirm that Cooke hosts meaningful gold-copper-silver mineralization and highlight the potential for Cooke to emerge as a satellite deposit capable of providing incremental mill feed to the broader Opemiska development concept.

Importantly, drilling completed to date has identified at least two parallel mineralized zones, intersected in every hole, supporting continuity and strengthening the case for systematic delineation. Cooke is a past-producing mine that currently has no NI 43-101 resource, making it a clear growth opportunity within the broader Opemiska district. Confirming two parallel mineralized zones in early drilling supports the potential to advance Cooke toward a maiden resource, which could translate into incremental, near-surface feed for the envisioned Opemiska operation. If delineated, Cooke could increase overall project scale, improve mine plan flexibility, and enhance development optionality as XXIX works toward the next Opemiska MRE and the project's PFS pathway.

"These first holes at Cooke validate the opportunity to add high-value, near-surface ounces and copper to the broader Opemiska story," said Guy Le Bel, CEO of XXIX. "Cooke is a past-producing area with clear room for growth. We're encouraged by the consistency of encountering two parallel zones and we plan to follow up with tighter-spaced drilling to advance Cooke toward a maiden resource."

Cooke Crown Pillar Drilling Program: Two Parallel Zones Confirmed

The Company expanded its initial Cooke drill program to target approximately 10,000 metres across the Cooke Zone and Saddle Zone (see news release dated December 8, 2025). The program focused on the near-surface crown pillar, designed to test and better define the previously interpreted North Zone and South Zone over an approximate 700-metre strike length.

Successful delineation of a mineralized crown pillar at Cooke has the potential to strengthen the overall Opemiska development plan as the Company advances the broader project toward an updated Mineral Resource Estimate (MRE) intended to support a Preliminary Feasibility Study (PFS).

Location of Cooke Drill Holes – Figure 1

Interpretation and Next Steps

Cooke appears to reflect a different mineralization style than the Springer and Perry zones that underpin the envisioned Opemiska open pit. Whereas Springer and Perry are characterized by larger, more continuous veins, mineralization at Cooke is interpreted to be hosted within two shear zones containing multiple smaller veins and veinlets, which can produce locally higher-grade ("nuggety") intersections and greater variability in grade and thickness. Within the Chibougamau copper zone, drilling intersected narrow, but high copper values as expected. The Company believes these results justify a follow-up program with narrower drill spacing to support a potential maiden MRE at Cooke.

Table 1) Selected intersects from Chibougamau Cooke Gold Zone

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Cu (%)	Zone
COR-25-31	70.75	73.25	2.50	0.76	1.00	0.02	North Zone
COR-25-31	110.70	115.70	5.00	0.01	2.66	0.22	South Zone
COR-25-33	199.00	204.50	5.50	0.05	1.69	0.11	North Zone
COR-25-33	220.50	224.50	4.00	0.26	0.28	0.04	South Zone
COR-25-34	162.00	165.00	3.00	0.78	3.40	0.24	North Zone
COR-25-34	232.00	238.00	6.00	1.15	2.70	0.28	South Zone
COR-25-35	173.00	174.00	1.00	0.61	8.13	0.53	North Zone
COR-25-35	243.00	250.00	7.00	2.52	2.41	0.36	South Zone
COR-25-36	50.00	51.00	1.00	0.01	1.10	0.20	North Zone
COR-25-36	122.00	128.80	6.80	0.21	0.74	0.05	South Zone
COR-25-37	37.00	41.00	4.00	0.07	1.38	0.33	North Zone
COR-25-37	83.60	90.00	6.40	3.40	3.50	0.33	South Zone
COR-25-38	61.20	67.60	6.40	3.63	3.50	0.27	North Zone
COR-25-38	108.50	114.50	6.00	0.28	1.04	0.21	South Zone
COR-25-39	41.00	42.00	1.00	0.15	3.00	0.31	North Zone
COR-25-39	109.00	114.00	5.00	0.54	0.26	0.04	South Zone
COR-25-40	52.30	57.30	5.00	1.21	0.68	0.04	North Zone
COR-25-40	116.90	118.90	2.00	1.31	5.40	0.28	South Zone
COR-25-41	51.50	53.10	1.60	0.18	3.88	0.75	North Zone
COR-25-41	88.70	90.60	1.90	6.82	1.99	0.03	South Zone
COR-25-42	41.50	45.70	4.20	3.07	9.38	0.69	North Zone
COR-25-42	131.10	138.80	7.70	0.94	2.46	0.50	South Zone
COR-25-43	95.30	96.90	1.60	0.14	2.65	0.40	North Zone
COR-25-43	194.60	203.80	9.20	0.11	0.90	0.09	South Zone
COR-25-44	25.40	29.40	4.00	0.36	0.38	0.03	North Zone
COR-25-44	120.50	136.90	16.40	0.61	2.32	0.36	South Zone
COR-25-45	194.80	208.00	13.20	1.29	5.11	0.87	North Zone
COR-25-46	94.80	99.00	4.20	0.39	15.59	1.32	North Zone
COR-25-46	197.00	200.30	3.30	0.07	1.34	0.52	South Zone
COR-25-47	89.40	94.40	5.00	0.09	1.76	0.31	North Zone
COR-25-47	196.00	199.00	3.00	0.45	0.20	0.01	South Zone
COR-25-48	91.70	95.70	4.00	0.49	0.18	0.01	North Zone
COR-25-48	139.60	152.70	13.10	3.39	3.04	0.62	South Zone
COR-25-49	321.00	323.10	2.10	0.37	28.85	2.75	North Zone
COR-25-50	109.00	111.00	2.00	1.54	4.60	0.37	South Zone
COR-25-22	82.80	84.00	1.20	0.31	27.19	4.14	Chibougamau Copper
COR-25-23	67.50	72.00	4.50	0.06	6.73	0.67	Chibougamau Copper
COR-25-24	54.00	56.50	2.50	0.05	10.08	1.28	Chibougamau Copper
COR-25-25	179.60	182.60	3.00	0.02	2.20	0.14	Chibougamau Copper
COR-25-27	74.60	77.85	3.25	0.15	6.10	0.57	Chibougamau Copper
COR-25-29	131.55	132.05	0.50	0.09	9.60	1.24	Chibougamau Copper
COR-25-30	74.15	78.70	4.55	0.04	2.78	0.25	Chibougamau Copper

 

True thickness are unknown.

Table 2) Cooke Drill Collar Locations

Hole ID	Metres	Easting	Northing	Elevation	Azimuth	Dip
COR-25-22	129	513045	5515775	397	153	-50
COR-25-23	111	513196	5515766	397	153	-60
COR-25-24	99	513196	5515766	395	153	-45
COR-25-25	213	513225	5515812	401	153	-58
COR-25-26	180	513699	5515890	394	90	-46
COR-25-27	126	513604	5515777	395	230	-50
COR-25-28	231	513218	5515826	401	153	-58
COR-25-29	165	513268	5515808	401	153	-60
COR-25-30	150	513345	5515830	400	153	-45
COR-25-31	180	512930	5515428	393	210	-57
COR-25-32	165	513020	5515383	393	210	-50
COR-25-33	291	513070	5515470	394	210	-50
COR-25-34	270	513140	5515405	394	210	-50
COR-25-35	255	513245	5515370	393	210	-50
COR-25-36	168	513093	5515335	392	210	-50
COR-25-37	156	513122	5515301	392	210	-50
COR-25-38	132	513225	5515268	391	210	-47
COR-25-39	159	513181	5515275	391	210	-50
COR-25-40	174	513244	5515251	392	210	-50
COR-25-41	192	513449	5515119	392	210	-50
COR-25-42	177	513295	5515227	391	210	-50
COR-25-43	336	513471	5515161	392	210	-50
COR-25-44	177	513345	5515194	391	210	-50
COR-25-45	378	513568	5515173	392	210	-50
COR-25-46	261	513400	5515212	391	210	-48
COR-25-47	282	513419	5515197	392	210	-48
COR-25-48	207	513536	5515091	391	210	-50
COR-25-49	380	513610	5515318	394	210	-47
COR-25-50	279	513076	5515178	393	30	-50

 

Quality Control and Assurance

All samples (NQ core) are logged and cut in two at the company secure facility in Chapais, under the supervision of Ahcene Gaoui, p.geo., project geologist. The samples are sent to Agat laboratories in Val-d'Or by a secure transport. One standard and one blank are inserted in every 50 samples, the blank always in a mineralized zone.‎

The analytic method used is fire assay, trace Au, AAS finish and Fire assay, Au grade with gravimetric finish for over limit results. We use Aqua regia digest, metals package ICP OES finish for Cu and Ag with ICP-MS finish for over limit results.

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.

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

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.

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.

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/285577

FAQ

What did XXIX (QCCUF) announce about Cooke drill results on February 27, 2026?

XXIX reported initial Cooke Zone assay results including 6.40 m at 3.63 g/t Au among other intercepts. According to the company, drilling confirmed two parallel shear-hosted zones and supports follow-up tighter-spaced drilling toward a maiden MRE.

How could the Cooke results affect Opemiska's development for QCCUF shareholders?

Cooke could become a satellite feed to Opemiska, improving project optionality. According to the company, near-surface Cooke ounces and copper may add incremental mill feed and mine plan flexibility for the next MRE and PFS.

What are the standout assay values from XXIX's Cooke drilling (QCCUF)?

The standout reported intercept is 6.40 m @ 3.63 g/t Au, 3.50 g/t Ag, 0.27% Cu in hole COR-25-38. According to the company, numerous other holes returned multi-gram Au and elevated Cu/Ag in both North and South zones.

What drilling program will XXIX (QCCUF) follow after the Cooke results?

XXIX expanded the program to target approximately 10,000 m across Cooke and Saddle zones. According to the company, follow-up work will use narrower drill spacing to support a potential maiden Mineral Resource Estimate.

Are Cooke intercept true thicknesses reported by XXIX (QCCUF)?

No, true thicknesses are not reported and remain unknown. According to the company, reported lengths are downhole intercepts and further drilling and interpretation are required to determine true widths.