XXIX Metal plans 2026 exploration at Opemiska, Thierry

Executive Summary

• XXIX Metal Corp. provided an update on its fully funded 2026 exploration plan, leveraging a recently completed $17.2-million financing that leaves the company with over $20-million in cash and $24-million in working capital.
• The company is accelerating exploration at its Opemiska copper project in Quebec, targeting a Preliminary Feasibility Study (PFS) through ongoing drilling at the Cooke zone and planned infill drilling at the Saddle zone, alongside 3-D model refinement.
• At the Thierry project in Ontario, XXIX will launch its first large-scale drill program in over 50 years, planning 20,000 metres of drilling at the K1 zone to test grade, scale, and continuity under a new bulk-tonnage interpretation.

Key Details

• Financial Position: The company is fully financed through 2026, with $20-million+ in cash and $24-million in working capital, following a $17.2-million financing.
• Opemiska Project (Quebec) - Cooke Zone:
  • 10,000 metres of drilling are currently underway.
  • Results from the initial 29 holes drilled in fall 2025 are expected in the coming weeks.
  • The program targets the near-surface crown pillar of the historical Cooke gold mine and stepouts along a newly identified mineralized horizon to supplement the Preliminary Economic Assessment (PEA) and support the Mineral Resource Estimate (MRE).
• Opemiska Project (Quebec) - Saddle Zone:
  • Infill drilling planned for Q3 2026 to enhance resources and optimize geometry.
  • Goals include enabling a deeper pit, increasing resources, and reducing the strip ratio.
  • Drilling will also test the perimeter of the proposed open pit for lower-grade fringe mineralization.
• Opemiska Project (Quebec) - 3-D Model & MRE:
  • Q2 2026: Refinement of digitized historical stopes from Springer and Perry mines to increase grade/tonnage certainty and support upgrading inferred resources to measured/indicated categories.
  • Q4 2026: Initiation of an updated MRE incorporating Cooke and Saddle drilling data and the derisked 3-D model to serve as the basis for the PFS.
• Thierry Project (Ontario) - K1 Zone:
  • Maiden large-scale drill program of 20,000 metres planned to test the new bulk-tonnage copper/platinum group element interpretation.
  • This is the first systematic, large-scale drilling on the property in approximately 50 years.
  • K1 dimensions are 1.4 km length by 250 m width by 400 m depth; grade increases with depth, and the deposit remains open in all directions.
• Thierry Project (Ontario) - K2 Zone:
  • Data validation and reinterpretation expected to be completed soon.
  • Historical drilling totals over 210,000 metres across K1 and K2.
  • New interpretation suggests significant mineralization exists between previously interpreted veins, with potential for resource expansion.
• Corporate Actions:
  • Board approved stock options for up to 4.4 million shares (3.75 million to directors/officers, remainder to consultants).
  • Exercise price: 13 cents per share.
  • Vesting: One year from grant date.
  • Term: Five years from grant date.
  • Classified as a related party transaction under Multilateral Instrument 61-101.

Notable Quotes

• "Having closed our financing, we are looking forward to pursuing an aggressive exploration plan in 2026 with multiple exploration catalysts at both our Opemiska copper project in Quebec and Thierry in Ontario. We are well funded through 2026 as we progress Opemiska towards a preliminary feasibility study while commencing a large-scale drill program at Thierry, the first in over 50 years," said Guy Le Bel, chief executive officer of XXIX.