XXIX Metal closes acquisition of 19.9% of Kintavar

Mr. Stephen Stewart reports XXIX CLOSES ITS ACQUISITION OF 19.9% OF KINTAVAR EXPLORATION XXIX Metal Corp. has closed its previously announced acquisition of 19.9 per cent of Kintavar Exploration Inc. through an asset purchase agreement (APA) dated April 21, 2025, with Kintavar and Orecap Invest Corp., pursuant to which XXIX and Orecap sold a 100-per-cent interest in the 987-hectare Roger project, located in the Chibougamau mining district in Quebec, for a purchase price of $2,137,500. With this transaction, XXIX has realized value in a high-quality asset overlooked by the market while retaining exposure through a 19.9-per-cent ownership in Kintavar. Kintavar, now led by Peter Cashin and with support from the Ore Group, can focus dedicated resources and capital ($3.8-million in cash and investments) on developing Roger under a new Chibougamau-focused base metal and gold exploration interpretation at Roger. Through this transaction, Kintavar now has strong shareholder support, with XXIX and Orecap as cornerstone shareholders collectively holding 39.9 per cent. Kintavar's new interpretation of the Roger project Roger, now 100 per cent owned by Kintavar, is located approximately five kilometres northwest of Chibougamau and spans 987 hectares. The project was the subject of a historical mineral resource estimate with an indicated resource of 10.9 million tonnes at 0.85 gram per tonne gold, 0.80 g/t silver and 0.06 per cent copper (333,000 ounces gold equivalent) and an inferred resource of 6,569,000 tonnes at 0.75 g/t gold, 1.18 g/t silver and 0.11 per cent copper (202,000 ounces AuEq). The company is treating the historical estimate as a historical mineral resource under National Instrument 43-101, Standards of Disclosure for Mineral Projects, and the reader is cautioned not to treat it, or any part of it, as a current mineral resource. The company has not done sufficient work to classify the historical estimate as a current mineral resource. Kintavar is compiling and evaluating all historical data from Roger systematically. Historical exploration indicates strong potential for volcanic-hosted massive copper/zinc/gold/silver sulphide (volcanogenic massive sulphide) deposits at Roger. A preliminary evaluation, including relogging and resampling of historical drill core, detailed rock geochemistry, and age dating of the host rock to existing mineralization, was completed in early August. This work revealed significant base metal intersections in historical core, including 7.0 per cent Zn, 0.36 per cent Cu and 10.5 g/t Ag over 6.0 m, within highly iron chlorite altered felsic to intermediate tuffs, agglomerates or banded flows interpreted to represent a marker horizon to a massive sulphide deposit. Kintavar: undervalued portfolio of gold and copper assets In addition to Roger, Kintavar has 17 projects across Quebec's best-known mining regions, including within the Nelligan-Monster Lake district, where it has partnered with Iamgold on its Anik gold project. Kintavar also owns the district-scale, resource-stage Mitchi project (measured and indicated resource of 2.99 million tonnes at 0.4 per cent copper and four g/t silver constrained within a shallow open pit with cut-off grade of 0.2 per cent copper and inferred resource of 85,000 tonnes at 0.35 per cent copper and 3.8 g/t silver; see Kintavar's news release dated June 15, 2023), the Wabash project, which has seen high-grade drill results, including 1.01 per cent copper and 19.3 g/t silver over 16.8 metres (see Kintavar's news release dated March 24, 2022), and New Mosher. Future source of non-dilutive capital With the closing of the transaction, XXIX now holds 42.75 million shares in Kintavar, which it will seek to monetize opportunistically, a strategy with which it has been previously successful. XXIX previously monetized a portion of its position in Baselode Energy (see news release dated Oct. 14, 2021), raising $7.85-million without any dilution. XXIX will now deploy a similar strategy with its Kintavar shares. Coming catalysts Opemiska PEA (preliminary economic assessment) in October, 2025 XXIX is working toward completing its maiden PEA on Opemiska in October, 2025. The PEA will be structured to maximize project value by prioritizing high-grade tonnes early in the proposed mine plan, with the objective of enhancing overall project returns and IRR. Opemiska -- Cooke drilling program in fall 2025 XXIX is planning a 5,000-metre drill program at the former Cooke gold mine area, which has not been properly tested since the mine's closure. Thierry -- maiden drill program in Q1 2026 XXIX is planning a drill program of up to 15,000 metres focused on the K1 deposit at Thierry, designed to expand the current resource base. Qualified person statement The technical information contained in this news release has been reviewed and approved by Charles Beaudry, PGeo (No. 1202), Geo (No. 311), director of XXIX Metal, a qualified person as defined in NI 43-101. About XXIX Metal Corp. XXIX is advancing its Opemiska and Thierry copper projects, two significant Canadian copper assets. The Opemiska project, Canada's highest-grade copper resource, spans 13,000 hectares in Quebec's Chapais-Chibougamau region, with strong infrastructure and nearby access to the Horne smelter. A January, 2024, resource update reported a 16-percent increase in contained copper equivalent (CuEq) and a 10-per-cent grade boost, including 87.3 million tonnes at 0.93 per cent CuEq (measured and indicated) and additional out-of-pit resources of 10.1 million tonnes at 1.37 per cent CuEq (measured and indicated) (see QC Copper and Gold Inc.'s news release of Jan. 8, 2024). The Thierry project hosts two past-producing open pits that transitioned to underground mining -- producing 5.8 million tonnes at 1.13 per cent Cu and 0.14 per cent nickel between 1976 and 1982 by UMEX Inc. (see QC Copper and Gold's news release of Oct. 1, 2024; see note below regarding historical mineral resources estimates). Significant infrastructure is already in place, with the Thierry property being accessible by all-season road, an airport within five kilometres, a provincial power grid within eight kilometres 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. Disclosure regarding historical resources The historic report has been replaced by a technical report dated June 20, 2025, entitled "43-101 Technical Report on the Roger Property," which does not contain a resource estimate. The technical report was prepared for Kintavar by Alain-Jean Beauregard, PGeo, who is a qualified persons as defined in NI 43-101, Standards of Disclosure for Mineral Projects, and is independent of the corporation applying the tests set out in NI 43-101. A copy of the technical report will be filed under the corporation's SEDAR+ profile upon completion of the transaction. The historic report summarized above has been included simply to demonstrate the mineral potential of Roger. The company considers the historical estimate to be relevant to the further development of the project; however, it is not treating the historical estimate as a current mineral resource. The historical estimate was calculated in accordance with NI 43-101 and CIM (Canadian Institute of Mining, Metallurgy and Petroleum) standards at the time of publication and predated the current CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019). As at the date of this news release, a qualified person has not completed sufficient work to classify any historical mineral resource estimates within this news release as current mineral resources or mineral reserves in accordance with NI 43-101 and XXIX is not treating the historical estimates above as current mineral resources. XXIX views these historical data as a conceptual indication of the potential size and grade of the copper-nickel deposits in the area, and these data are relevant to continuing exploration efforts. The qualified person has not done sufficient work to upgrade the resource as current. To upgrade or verify the historical resource as current, the company will need to complete a thorough review, analysis and resampling of the historical information and drill data as discussed above, along with the incorporation of exploration work and results subsequent to the publication of the historic report. Additionally, a full review of the economic parameters utilized to determine reasonable prospects of eventual economic extraction would be required in order to produce a current mineral resource for the project. Any future mineral resource will need to evaluate the open-pit and/or underground potential taking into consideration the current cost and pricing conditions and constraints, along with continuity of resource blocks. Exploration results published on neighbouring properties Readers should note that any technical and scientific results published on neighbouring properties to XXIX or Kintavar do not necessarily apply to the current projects or properties being disclosed. Early warning requirements As required by NI 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, XXIX has filed an early warning report in connection with its acquisition of the Kintavar shares pursuant to the transaction. The Kintavar shares were acquired by XXIX, a company organized and existing under the laws of British Columbia, with a registered office at Suite 1102, 141 Adelaide St. W, Toronto, Ont., M5H 3L5. Prior to the completion of the transaction, XXIX did not directly or indirectly own or exercise control over any Kintavar shares, nor any securities exercisable into Kintavar shares. Following the completion of the transaction, XXIX directly owns and exercises control over 42.75 million Kintavar shares, representing approximately 19.97 per cent of the issued and outstanding Kintavar shares. XXIX did not and does not hold any warrants before or after the completion of the transaction. The Kintavar shares were acquired for investment purposes. XXIX currently has no other plans or intentions that relate to, or would result in the matters listed in clauses (a) to (k) of Item 5 of Form 62-103F1, except that, pursuant to the APA, XXIX and Orecap have the right to appoint a new chief executive officer and chief financial officer of Kintavar and nominate two individuals to the board of directors of Kintavar. A copy of the early warning report with respect to the foregoing will appear on Kintavar's profile on SEDAR+. A copy of the report may also be obtained by contacting Stephen Stewart, chairman of the company. We seek Safe Harbor.