XXIX Commences Drill Program at Thierry K1 Deposit, Ontario's Largest Primary Copper Resource

XXIX Metal Corp. has initiated its maiden, large-scale 20,000-metre drill program at the 100%-owned, royalty-free Thierry Copper Project in Ontario. This marks the first systematic drilling on the property in over 40 years. The program targets the K1 deposit to test a new geological interpretation of a near-surface, disseminated bulk-tonnage copper-PGE system, which spans approximately 1.4 km in strike, 250 m in width, and 400 m in depth.

To support the exploration efforts, the company has rebuilt over 210,000 metres of historical diamond-drilling data into a modern, validated geological database. Historical resource estimates from 2021 for the K1 deposit indicate 53.6 million tonnes at 0.38% Cu, 0.10% Ni, 0.10 g/t Au, 0.07 g/t Pt, 0.21 g/t Pd, and 1.8 g/t Ag (Inferred). The K2 zone’s historical resources from the same year show 8.8 million tonnes Measured and Indicated at 1.66% Cu and 14.9 million tonnes Inferred at 1.64% Cu.

An induced polarization (IP) survey identified a 75-125 metre wide anomaly extending more than 2.5 km between the K1 and K2 zones, suggesting a potential sulphide corridor. Historically, the K2 zone produced 5.8 million tonnes grading 1.13% copper between 1976 and 1982.

The project is fully funded with over $19 million in cash and $24 million in working capital following a $17.2 million financing. Infrastructure includes all-season road access, power, water, an airport approximately 20 km away, the provincial power grid roughly 8 km distant, and nearby rail.

XXIX Metal Corp. (XXIX) has commenced drilling, marking the expected execution step following the financing closure in February 2026 and the permit acquisition in early July 2026. This development confirms management's ability to execute on its announced 2026 exploration plan.

The primary impact is operational validation. If the drilling successfully validates the bulk-tonnage interpretation, it will de-risk the project and pave the way for an updated Mineral Resource Estimate (MRE) targeted for Q4 2026. Until assay results are released, the financial and valuation impact remains neutral.

XXIX Metal Corp. is a Canadian exploration and development company focused on copper, gold, silver, and platinum group elements (PGEs). Its flagship Opemiska Project in Quebec covers 21,333 hectares. A Preliminary Economic Assessment (PEA) filed in October 2025 outlined a 17-year mine life, $505 million after-tax NPV (8%), 27.2% IRR, and a 2.3-year payback period. The project is advancing toward a Preliminary Feasibility Study (PFS).

The company also holds the 100%-owned, royalty-free Thierry Copper Project in Ontario, which spans 7,907 hectares. The property hosts the K1 zone, which has bulk-tonnage open-pit potential, and the K2 zone, a past-producing high-grade underground deposit. Management is led by CEO Guy Le Bel and Chairman Stephen Stewart, part of the Ore Group, with a team possessing extensive experience in mining development and finance.