XXIX to Begin 6,000-Metre Drill Program at High-Grade Cooke Gold Zone at Opemiska

Rhea-AI Summary

XXIX Metal Corp (OTCQB:QCCUF) has announced plans to commence a 6,000-metre drill program at its Cooke Gold Zone within the Opemiska copper project in October 2025. The program will include up to 34 holes, with approximately 23 holes (4,500 metres) focused on the Cooke zone.

The Cooke zone, a former Falconbridge gold mine that historically produced 1.97 million tonnes at 5.04 g/t gold and 0.66% copper, features an intact crown pillar of up to 250 metres, suggesting potential for high-grade near-surface gold mineralization. This represents the first systematic drilling at Cooke since its closure.

The program aims to expand Opemiska's current gold inventory, which stands at 634,000 ounces in Indicated Resources (62,706 kt @ 0.31 g/t Au) and 419,000 ounces in Inferred Resources (78,485 kt @ 0.17 g/t Au).

Positive

• Intact crown pillar of ~250 metres suggests potential for high-grade near-surface gold mineralization
• Historical high-grade production of 5.04 g/t gold and 0.66% copper from Cooke mine
• Strong existing infrastructure with access to Horne Smelter
• First systematic drilling since mine closure, leveraging extensive Falconbridge database

Negative

• Drill program results and potential resource expansion are uncertain
• Current gold grades in existing resource are relatively low (0.31 g/t Au Indicated, 0.17 g/t Au Inferred)

News Market Reaction

-0.65%

1 alert

-0.65% News Effect

On the day this news was published, QCCUF declined 0.65%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Highlights:

• 6,000-metre drill program primarily focused on the Cooke Gold Zone to commence October 2025.
• Cooke, a former Falconbridge gold mine, produced 1.97 Mt @ 5.04 g/t Au and 0.66% Cu¹.
• Cooke is 3km from current pit constrained resource, and not included in the current resource.
• Up to 250 metres of intact crown pillar provide potential for high-grade, near-surface gold.
• First systematic drill program at Cooke since closure, leveraging Falconbridge's extensive database.
• Drilling could significantly expand Opemiska's current gold inventory, consisting of 62,706 kt @ 0.31 g/t Au (634 Koz, Indicated Resources) and 78,485 kt @ 0.17 g/t Au (419 Koz, Inferred Resources).

Toronto, Ontario--(Newsfile Corp. - September 30, 2025) - XXIX Metal Corp‎. (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) ("XXIX" or the "Company") is pleased to announce an up to 34 hole, 6,000-metre drill program on its Cooke gold zone at its Opemiska copper project. XXIX anticipates drill mobilization on or around October 20, 2025.

Cooke is one of the four former underground mines historically operated by Falconbridge at Opemiska. Unlike Springer and Perry, which were primarily copper mines with gold content forming XXIX's current resource, Cooke was a gold mine with copper by-product credits. This upcoming campaign represents the first systematic drill program at Cooke since mine closure, providing an opportunity to expand Opemiska's gold inventory beyond its existing 62,706 kt @ 0.31 g/t Au (634 Koz, Indicated Resources) and 78,485 kt @ 0.17 g/t Au (419 Koz, Inferred Resources) of defined open pit resources.

The primary objective of this drill campaign is to define near-surface gold and copper resources that could be accretive to the broader Opemiska project. Given the proximity of the target area and our strong understanding of the geology, supported by the extensive Falconbridge database the Company inherited along with subsequent compilation and reinterpretation work, this program is designed to leverage that knowledge. Through this drill program, XXIX will focus on testing near-surface mineralization, particularly from the crown pillar, to outline resources that could enhance the potential of any future operation at Opemiska.

Cooke Gold Zone

XXIX has planned up to ~23 holes (4,500 metres) at Cooke, with the remaining holes allocated to the Chibougamau Copper Zone, located 500 metres north of Cooke, to determine the potential for a near-surface resource that could complement Opemiska's existing resource base.

Cooke was a past-producing underground mine with two parallel gold structures that have not been mined to surface-similar to that of Springer and Perry-the two zones (past-producing mines) that comprise Opemiska's current resource. Historically, Cooke produced 1.97 million tonnes grading 5.04 g/t gold and 0.66% Copper². Cooke has ~250 metres of crown pillar intact, increasing the potential for high-grade near-surface gold mineralization.

‎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) (see XXIX news release dated June 3, 2025), with its clean concentrates not yet allocated. The Thierry Project hosts the K1 (near-surface) and K2 (underground & surface) zones, with 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 developers.

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 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.

---

¹ Morin, R. DV90-01, Energie et Ressources Naturelle Québec, Edition L. Blais-Leroux, p. 75
² 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/268445

FAQ

What is the size of XXIX Metal's planned drill program at the Cooke Gold Zone?

XXIX Metal plans to conduct a 6,000-metre drill program with up to 34 holes, including approximately 23 holes (4,500 metres) at the Cooke zone.

What were the historical production grades at the Cooke mine?

The Cooke mine historically produced 1.97 million tonnes grading 5.04 g/t gold and 0.66% copper.

What is XXIX Metal's current gold resource at Opemiska?

Opemiska currently has 634,000 ounces of Indicated Resources (62,706 kt @ 0.31 g/t Au) and 419,000 ounces of Inferred Resources (78,485 kt @ 0.17 g/t Au).

When will XXIX Metal begin drilling at the Cooke Gold Zone?

XXIX Metal anticipates drill mobilization to begin on or around October 20, 2025.

How far is the Cooke Gold Zone from the current pit-constrained resource?

The Cooke Gold Zone is located 3 kilometers from the current pit-constrained resource at Opemiska.