XXIX Shareholders Approve All Matters at Annual General and Special Meeting
Rhea-AI Summary
XXIX Metal (TSXV: XXIX, OTCQB: QCCUF) reports that shareholders approved all matters at its Annual General and Special Meeting on July 28, 2026. The company also appointed Éric Desaulniers, founder, president and CEO of Nouveau Monde Graphite, to its Board of Directors to support advancement of Quebec and Ontario copper assets.
According to XXIX, its Opemiska copper project in Quebec is supported by an October 2025 Preliminary Economic Assessment outlining a 12,500 tpd open pit over 17 years, with an after-tax NPV8% of $505M, IRR of 27.2%, and a 2.3-year payback at specified metal prices. The Thierry project in Ontario hosts near-surface K1 and past-producing K2 zones with established regional infrastructure, reinforcing XXIX’s position among major Eastern Canadian copper developers.
Positive
- All AGM matters approved, confirming shareholder support for governance decisions
- Appointment of Éric Desaulniers adds Quebec project permitting and development experience
- Opemiska PEA shows after-tax NPV8% of $505M over 17-year mine life
- Opemiska delivers 27.2% after-tax IRR with 2.3-year payback at stated prices
- Planned Opemiska throughput of 12,500 tpd over 17 years
- Thierry project benefits from existing road, airport within 5 km, and power grid within 8 km
Negative
- None.
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Toronto, Ontario--(Newsfile Corp. - July 29, 2026) - XXIX Metal Corp. (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) ("XXIX" or the "Company") is pleased to announce that shareholders approved all matters put before them at the Company's Annual General and Special Meeting of Shareholders (the "Meeting") held on July 28, 2026.
In addition to the elected Board Members, the Company appointed Éric Desaulniers, MSc, P.Geo., Founder, President and Chief Executive Officer of Nouveau Monde Graphite Inc., to its Board of Directors. Mr. Desaulniers discovered the Matawinie graphite deposit in Quebec and led Nouveau Monde's growth from exploration through construction of a vertically integrated graphite mining and battery materials business, and brings extensive experience permitting and advancing mining projects in Quebec that the Company intends to leverage as it advances its Quebec and Ontario copper assets.
"We appreciate the strong support of our shareholders at the Meeting," said Guy Le Bel, Chief Executive Officer of XXIX Metal Corp. "With these approvals behind us, and with Éric Desaulniers now on our Board, we are well positioned to continue advancing our Opemiska and Thierry copper projects and building long-term value for our shareholders."
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
For further information, please contact:
Guy Le Bel, Chief Executive Officer
Phone:514.654.8550
Email: glebel@oregroup.ca
www.xxix.ca
Cautionary Note Regarding Historical Estimates and Exploration Potential
The mineral resource estimates for the K1 and K2 zones referenced in this news release were prepared in 2021 and have not been updated to current standards in connection with this news release. The Company considers the earlier K1 estimate to be historical and incomplete and is advancing toward an updated mineral resource estimate; a qualified person has not done sufficient work to classify these estimates as current mineral resources, and XXIX is not treating them as current. The Company's new bulk-tonnage interpretation of the K1 zone is conceptual in nature. Statements regarding the potential to expand or grow the resource, possible mineralized continuity between K1 and K2, district-scale targets, and the effect of higher metal prices describe exploration potential only; there has been insufficient exploration to define a current mineral resource in these areas, and it is uncertain whether further exploration will result in any deposit being delineated as a mineral resource. Past production figures and other historical results have not been independently verified and are not necessarily indicative of future results.
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.
Forward-Looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws, including statements regarding the receipt and scope of the Thierry exploration permit; the timing, size and objectives of the Company's planned drill and exploration program at Thierry; the expected timing of mobilization; the potential to expand or grow mineral resources at K1, K2 and along the corridor between them; the Company's new geological interpretation of the K1 zone; the anticipated impact of metal prices on project economics; the Company's intention to complete an updated mineral resource estimate; and the Company's funding position. Wherever possible, words such as "may", "will", "expect", "plan", "intend", "anticipate", "believe", "estimate", "potential", or the negative of these terms have been used to identify forward-looking statements. These statements reflect management's current beliefs and are based on assumptions management considers reasonable as of the date hereof.
Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from those discussed or implied, including, among other things: risks related to the timely receipt, maintenance and conditions of permits and other governmental and regulatory approvals; risks related to community and Indigenous consultation and relations; uncertainties inherent in drill results and the estimation of mineral resources; risks that historical data, historical estimates and past production are not indicative of future results; commodity price volatility, including copper, nickel and precious metal prices; availability of financing on acceptable terms; and risks associated with executing the Company's plans and intentions. Readers are cautioned not to place undue reliance on forward-looking statements. Although the forward-looking statements are based on assumptions management believes to be reasonable, the Company cannot assure readers that actual results will be consistent with these statements. The forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them except as required by law. Additional risk factors are described in the Company's disclosure documents available on SEDAR+ at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307010