XXIX Metal expands drill program at Opemiska project

Executive Summary

• XXIX Metal Corp. has expanded its 2025 drill program at the Opemiska project to 10,000 metres, driven by stronger-than-expected early results in the Cooke zone and growing confidence in the Saddle zone.
• The expansion includes doubling the budget and metre count for the Cooke zone to fast-track resource growth and test a new mineralized horizon, while increasing drilling at the Saddle zone to connect and define the copper-gold zone.
• Both the Cooke and Saddle zones lie outside the current Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA), representing significant stepout growth opportunities that could strengthen the upcoming prefeasibility study.

Key Details

• Program Expansion: Total drill program increased to 10,000 metres, split between the Cooke and Saddle zones.
• Cooke Zone Strategy:
  • Drilling has confirmed a more extensive mineralized horizon than previously modeled.
  • Budget and metre count for Cooke have been doubled to target the near-surface crown pillar of the former Cooke gold mine and stepouts along a newly identified horizon.
  • Cooke is not included in the current MRE or PEA.
  • Early results include visible gold in two of the initial six holes.
  • Historical production data: 1.97 million tonnes at 5.04 g/t gold and 0.66% copper.
  • Location: 2.5 kilometres east of the envisioned Opemiska pit.
• Saddle Zone Strategy:
  • Expanded drilling aims to connect and define the copper-gold zone.
  • Previous campaigns delivered strong copper-gold intercepts, but drill density was insufficient for resource inclusion.
  • Saddle lies entirely outside the current MRE/PEA and offers substantial upside.
• Operational Updates:
  • A second drill rig was mobilized at the end of November to accelerate progress across priority targets.
  • The expansion builds on a recently announced PEA (October 2025) which outlined a 12,500-tonne-per-day open pit operation over a 17-year mine life, with an after-tax NPV (8%) of $505 million, an IRR of 27.2%, and a 2.3-year payback period.
• Technical Review: Technical information reviewed and approved by Denis McNichols, PGeo, Vice-President, Exploration, a Qualified Person under National Instrument 43-101.

Notable Quotes

• "Cooke continues to exceed expectations, and the identification of a new horizon adds another layer of potential," said Guy Le Bel, chief executive officer of XXIX. "By expanding our work at Cooke and increasing metres at Saddle, we are positioning XXIX for meaningful near-term resource growth and long-term value creation."