XXIX Metal Corp. Thanks Chapais Residents for Active Participation in Opemiska Project Consultations

On October 24, 2025, XXIX Metal Corp. announced it had held successful public information and discussion sessions with the residents of Chapais, Quebec, regarding its Opemiska Copper Project. The company thanked the community for its active participation. The release also reiterated the positive results from its Preliminary Economic Assessment (PEA) published three days prior, highlighting an after-tax Net Present Value (NPV) of C$505 million and an Internal Rate of Return (IRR) of 27.2%. The CEO, Guy Le Bel, stated the PEA confirms Opemiska's potential as a profitable operation that can bring long-term value to the region.

This news is a routine follow-up to the highly material announcement of the Opemiska PEA results on October 21, 2025. While positive community engagement is a critical component of de-risking any mining project, this announcement does not introduce new financial or technical data. Its primary purpose is to demonstrate progress on the social and permitting front.

Reviewing the company's progression over the past year provides essential context: - Project Development (Early 2025): The company spent the first half of 2025 advancing its flagship Opemiska project. Successful drill results at the Saddle Zone (January 6 and May 22) led to an updated and improved Mineral Resource Estimate (MRE) on June 3. This MRE was a key prerequisite for the PEA and highlighted the risk of the conceptual pit's proximity to the town of Chapais, making community relations paramount. - Corporate & Financial (Mid-2025): The company shored up its balance sheet by arranging and closing a C$6 million flow-through financing in July and August. This was crucial as financials from July 31 showed cash had dwindled to C$1.8 million. The financing provides a runway for the announced exploration programs at Opemiska's Cooke Gold Zone and the Thierry project in Ontario. The company also smartly monetized its non-core Roger gold project by selling it to Kintavar for a 19.9% equity stake, focusing its efforts on copper without diluting shareholders further. - PEA Milestone (October 2025): The October 21 PEA is the culmination of this work. It outlines a project with strong economics (C$505M NPV, 27.2% IRR) but also a formidable C$617 million initial capital expenditure (CAPEX). This CAPEX is the single largest hurdle for a company of this size.

The October 24 news on community consultations directly addresses the social risk identified in the June MRE. By actively engaging with the Chapais community, management is prudently mitigating a key potential obstacle to permitting. This is a positive and necessary step, but it is procedural. The market's lack of a strong reaction, with the stock price remaining flat, confirms the routine nature of this update. The market has digested the PEA and now awaits catalysts that address the significant funding and development challenges ahead.

XXIX Metal Corp. is a Canadian junior mining company focused on the exploration and development of two large-scale copper projects in Eastern Canada. - Flagship Project (Opemiska): Located in the well-established Chapais-Chibougamau mining district of Quebec, Opemiska is a past-producing mine being advanced as a large open-pit copper-gold-silver project. The October 2025 PEA outlines a 17-year mine life with an initial CAPEX of C$617M, an after-tax NPV8% of C$505M, and an IRR of 27.2%. The project benefits from excellent existing infrastructure. - Secondary Project (Thierry): Located in Pickle Lake, Ontario, Thierry is another past-producing copper-nickel mine with a large historical resource that the company is working to validate and expand.