XXIX Metal completes geological reinterpretation at K1

Executive Summary

• XXIX Metal Corp. has completed a comprehensive validation and reinterpretation of over 210,000 metres of historical drilling data at its Thierry Copper Project, specifically focusing on the K1 and K2 zones.
• The reinterpretation reveals a new geological model: K1 is interpreted as a bulk-tonnage, disseminated mineralization suitable for open-pit mining with grades potentially increasing with depth, while K2 supports a higher-grade underground operation.
• Recent Induced Polarization (IP) survey results indicate potential sulphide mineralization connecting K1 and K2, with a targeted drill program planned to test this corridor and define the scale of the mineralization.

Key Details

• Data Volume: Integration of over 210,000 metres of historical drilling, along with extensive geological and geophysical data, into a modern, validated database.
• K1 Zone Interpretation:
  • Shifted from historical subparallel tabular zones to a disseminated mineralization model.
  • Supports a bulk-tonnage, open-pit mining model.
  • Grades potentially increase with depth.
  • Deposit remains open to the east.
• K2 Zone Status: Validation of the geological database is nearing completion; interpreted as supporting a higher-grade underground operation.
• Geophysical Findings: Recent IP survey highlights compelling targets at K1 and K2 and along the corridor connecting them, suggesting sulphide mineralization between the two zones.
• Economic Drivers:
  • Existing resource estimates (2021) used a copper price of $3.75/lb.
  • Current copper prices are well above $5.00/lb, allowing for lower cut-off grades and inclusion of previously uneconomic mineralization.
  • Improved copper and PGE (Platinum Group Elements) prices enhance project economics.
• Infrastructure: Project benefits from strong in-place infrastructure in Pickle Lake, including road access, power, water, an airport, and rail access.
• Future Plans: Company expects an active exploration season to evaluate high-potential targets and plans to begin unlocking the project's full potential throughout 2026.
• Asset Status: Thierry is unencumbered and carries no royalties.

Notable Quotes

• "XXIX has applied the same data validation and reinterpretation discipline used at Opemiska... to the Thierry copper project."
• "XXIX's new interpretation departs materially from historical models. The company now sees potential for a higher-grade underground operation at K2, alongside a large-scale, bulk-tonnage copper/platinum group element open pit at K1."
• "The data increasingly suggest sulphide mineralization between the two zones. XXIX plans a targeted drill program to test this potential and define scale."