XXIX Metal through six drill holes at Cooke

Executive Summary

• XXIX Metal Corp. provided an update on its 6,000-metre drill program at the Opemiska project, highlighting wide copper-bearing intervals and visible gold at the Cooke gold zone, as well as consistent copper mineralization at the Chibougamau target.
• The company is accelerating exploration by mobilizing a second drill rig to the Cooke zone, where six of 23 planned holes have been completed, revealing potential for open-pit development concepts.
• Significant growth opportunities were identified outside current resource estimates, including the Saddle zone, underground extensions of the Springer and Perry zones, and the Chibougamau copper target, all of which may be included in the forthcoming prefeasibility study.

Key Details

• Cooke Gold Zone Drilling:
  • Six of 23 planned holes completed (part of a 5,000-metre program).
  • Intersected wide copper-bearing intervals ranging from 12 to 48 metres (core length).
  • Visible and native gold observed in two of the completed holes.
  • Gold-bearing zones appear consistent with potential open-pit development concepts; the crown pillar extends approximately 700 metres in strike length.
  • Drilling is located outside of any defined current gold or copper resources.
  • Historical production data for Cooke: 1.97 million tonnes grading 5.04 g/t Au and 0.66% Cu.
• Chibougamau Copper Target:
  • Seven holes completed (1,017 metres).
  • All holes intersected copper mineralization.
  • Represents additional copper upside complementing the existing mineral resource estimate and the October 2025 Preliminary Economic Assessment (PEA).
• Opemiska Resource Growth Areas:
  • Saddle Zone: Key growth area within the contemplated open pit, not yet in the resource estimate. Historical high-grade intersections include:
    • 5.29% Cu, 1.20 g/t Au over 11.0 metres (Jan. 6, 2025).
    • 0.99% Cu, 0.30 g/t Au over 57.3 metres (April 10, 2025).
    • 0.87% Cu, 0.14 g/t Au over 45.0 metres (April 10, 2025).
  • Underground Resources: Evaluation of mineralization below the contemplated open pit, specifically the Springer and Perry zones, which have demonstrated mineralization to depths approaching one kilometre.
  • Resource Expansion: Only 55% of the company's mineral resource estimate (from June 3, 2025) was included in the preliminary economic assessment, leaving further opportunity for resource expansion.
• Program Acceleration:
  • A second drill rig is being mobilized to accelerate the program across high-priority targets.
• Project Economics (Context):
  • October 2025 PEA outlined a 12,500-tonne-per-day open pit operation over a 17-year mine life.
  • After-tax NPV8%: $505 million.
  • IRR: 27.2%.
  • Payback period: 2.3 years.
  • Assumptions: $4.35/lb Cu, $3,000/oz Au, $30/oz Ag.

Notable Quotes

• "XXIX believes Cooke has the potential to add meaningful resources to enhance the economics contemplated in the forthcoming prefeasibility study."
• "Given the encouraging results to date, the company is mobilizing a second drill rig, accelerating the program across additional high-priority targets."