XXIX Expands Drill Program at Cooke and Saddle Zones Following Encouraging Early Results at Opemiska

On December 8, 2025, XXIX Metal Corp. announced an expansion of its 2025 drill program at the Opemiska Project in Quebec. Following encouraging initial results, the company is doubling the budget and planned metreage for the Cooke Zone and expanding the program at the Saddle Zone. The total drill program has now been increased to 10,000 metres. Both the Cooke and Saddle zones are located outside the current Mineral Resource Estimate (MRE) and the recently published Preliminary Economic Assessment (PEA), representing potential for resource growth.

This news is a positive operational update that follows a logical progression of the company's strategy but is not a material game-changer on its own. The company recently delivered a robust PEA for its Opemiska project (October/December 2025), which outlined an after-tax NPV8% of C$505 million. The market capitalization of C$40 million reflects a significant discount to this PEA value, indicating perceived risks.

The expansion of the drill program is a direct result of encouraging visual results from initial drilling mentioned on November 24, 2025, which included wide copper intercepts and visible gold. By immediately following up on these positive signs, management is demonstrating effective execution. Since both the Cooke and Saddle zones lie outside the current PEA resource, any success from this 10,000-metre program represents pure upside to the project's current economic model.

While positive, this news is routine for an exploration company. It confirms the exploration potential and management's confidence, but its material impact is contingent on the release of actual assay results. Until then, it serves to reinforce the existing investment thesis rather than fundamentally altering it. The stock price has been in a steady uptrend since its financing in August and the release of the PEA, and this news should provide continued support for that trend.

XXIX Metal Corp. is a Canadian mineral exploration and development company focused on copper and gold. Its portfolio includes two large, past-producing copper projects in Eastern Canada.

The company's flagship asset is the 100%-owned Opemiska Copper Project in the Chapais-Chibougamau district of Quebec. Opemiska is a brownfield project with significant existing infrastructure. On October 21, 2025, the company announced a positive PEA with key metrics including: - After-tax Net Present Value (NPV) at an 8% discount rate of C$505 million. - After-tax Internal Rate of Return (IRR) of 27.2%. - Initial Capital Expenditure (Capex) of C$617 million. - A 17-year mine life with average annual production of 59 million pounds of copper and 34 thousand ounces of gold in the first six years.

The company's second key asset is the 100%-owned Thierry Project near Pickle Lake, Ontario.