XXIX Expands Opemiska's Regional Footprint by Advancing the Pluto Property Option
XXIX completes the share component of its Pluto option and now must spend C$250,000 on exploration to fully earn the property.
Rhea-AI Summary
XXIX Metal (QCCUF) has issued 287,403 common shares to Germanium Mining, completing the share consideration under its option to acquire a 100% interest in the Pluto Property near the Opemiska Project.
The shares were issued at a deemed price of C$0.174, satisfying the C$50,000 share component of the option. The shares carry a statutory hold period of four months and one day. XXIX’s remaining obligation is at least C$250,000 in exploration expenditures on Pluto by December 31, 2028. Pluto lies about 10 km from Opemiska and is viewed as a complementary, early-stage copper-gold-silver exploration target that will advance only if future results justify further work.
Positive
- 287,403 shares issued at C$0.174 complete the C$50,000 Pluto share consideration
- Option grants right to acquire 100% interest in Pluto Property near Opemiska
- Remaining earn-in obligation limited to C$250,000 in exploration by December 31, 2028
Negative
- Company now committed to spend at least C$250,000 on Pluto exploration by end-2028
AI-generated analysis. How Rhea-AI works. Not financial advice.
Highlights:
- Pluto adds copper-gold-silver exploration exposure near Opemiska without changing XXIX's core focus on Opemiska and Thierry.
- XXIX views the broader Opemiska district as highly prospective for copper-gold mineralization, with Pluto adding new exploration targets that could benefit the Opemiska camp.
- Recent forestry road development has improved access and may reduce the cost of initial fieldwork.
- Historical work indicates copper-gold-silver potential, which requires modern validation.
- XXIX plans to compile historical data, complete reconnaissance mapping and prospecting, rank targets, and assess whether trenching or drilling is warranted.
Toronto, Ontario--(Newsfile Corp. - September 17, 2026) - XXIX Metal Corp. (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) ("XXIX" or the "Company") is pleased to announce that it has issued 287,403 common shares to Germanium Mining Corp., completing the share issuance required under the option agreement (the "Option Agreement"). The Option Agreement provides XXIX with the right to acquire a
The Shares were issued at a deemed price of C
Following the issuance of the Shares, the Company's remaining obligation under the Option Agreement is to complete exploration expenditures of at least C
Figure 1 – Location of the Pluto Option Property
Pluto Complement to XXIX's Strategy in the Chapais-Chibougamau District
XXIX's strategy remains centered on advancing Opemiska and Thierry. Pluto is intended to be a complementary addition to that strategy rather than a new development focus.
Pluto's proximity to Opemiska is relevant from a regional exploration and logistics perspective. If field validation supports historical information, Pluto could provide additional early-stage exploration potential around the Opemiska Project. At this stage, Pluto is not part of the Opemiska mineral resource or development plan and will be advanced only if results justify further work.
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
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
www.xxix.ca
Forward-Looking Statements
This news release contains certain forward-looking statements, including statements regarding the Company's exploration expenditure obligations under the Option Agreement, the potential validation of historical information concerning the Pluto Property, the exploration potential of the Pluto Property, the circumstances in which further work may be undertaken at Pluto, and the projected operating and economic results described in the preliminary economic assessment for the Opemiska Project. 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: the Company's ability to satisfy its obligations under the Option Agreement; 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. Additional risk factors are described in the Company's disclosure documents available on SEDAR+ at www.sedarplus.ca. 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.
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/314656
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What are XXIX Metal's remaining obligations under the Pluto Property option?
Following the issuance of 287,403 shares for C$50,000 of consideration, XXIX’s remaining obligation under the Pluto option is to complete exploration expenditures of at least C$250,000 on the Pluto Property on or before December 31, 2028.
Where is the Pluto Property located relative to XXIX Metal's Opemiska Project?
The Pluto Property is located approximately 10 km from XXIX’s flagship Opemiska Project in Quebec’s Chapais-Chibougamau region.
How does Pluto fit into XXIX Metal's overall strategy?
XXIX’s strategy remains centered on advancing the Opemiska and Thierry copper projects. Pluto is described as a complementary, early-stage exploration addition rather than a new development focus and is not part of the current Opemiska mineral resource or development plan. The company states Pluto will be advanced only if results justify further work.
What early-stage work does XXIX plan for the Pluto Property?
XXIX plans to compile historical data, carry out reconnaissance mapping and prospecting, rank targets, and then assess whether trenching or drilling on Pluto is warranted.
What factors could support lower initial exploration costs at Pluto?
Recent forestry road development has improved access to the Pluto area, which the company indicates may reduce the cost of initial fieldwork.