Element 29 Extends Mineralization in ELID035 with Longest Intercept of 1,534.6 m Grading 0.58% CuEq2 at its Elida Porphyry Cu-Mo-Ag Deposit, Peru

Element 29 Resources Inc. (ECU) has reported assay results from three drill holes at its Elida porphyry Cu-Mo-Ag deposit in Peru: ELID035, ELID042, and ELID043.

ELID035, an extension hole, returned a continuous intercept of 1,534.6 m grading 0.58% CuEq (0.34% Cu, 0.064% Mo, 2.56 g/t Ag) from 56.6 m to the end of the hole at 1,591.2 m. This represents the longest continuous intercept to date, extending mineralization more than 1,000 m beyond the current resource shell. Sub-intervals within this intercept include: - 87.5 m @ 0.67% CuEq - 1,071.1 m @ 0.61% CuEq - 508.0 m @ 0.64% CuEq - 186.8 m @ 0.77% CuEq

ELID042 returned 805.8 m @ 0.36% CuEq, extending mineralization more than 500 m beyond the pit shell. ELID043 returned 343.8 m @ 0.30% CuEq from 952.2 m to the end of the hole. The hole was stopped for operational reasons while still in mineralization, leaving it open at depth.

Two rigs are currently active at the site. The company has completed 4,885.5 m of its planned 10,000 m program for 2026.

Element 29 Resources Inc. (ECU) released results confirming that its mineralized system extends significantly beyond the current resource definition, with geology remaining consistent. Since the discovery-style hole ELID037 in January 2026, the stock has repriced from approximately $0.50 to $1.50, a move that implies the market has already capitalized on the potential for a large resource.

The latest release adds another 45 meters of length at similar grades to the existing model, which already contains hundreds of millions of tonnes at comparable grades. For a junior explorer with a $284 million market cap, drill results typically need to discover a new high-grade zone, substantially increase overall grade, or de-risk metallurgy and permitting to significantly impact valuation. This release confirms scale but not grade, and the market has already priced in massive tonnage.

While the earlier ELID037 intercept was considered material due to being the first truly gigantic intercept in that campaign, subsequent step-outs are viewed as routine.

Element 29 Resources Inc. (ECU) is a Peru-focused copper exploration junior whose flagship asset is the 100%-owned Elida porphyry Cu-Mo-Ag deposit. The property spans 22,800 hectares and holds a pit-constrained inferred resource of 321.7 Mt @ 0.32% Cu, 0.029% Mo, 2.61 g/t Ag.

The company also holds other projects, including the Flor de Cobre porphyry Cu-Mo deposit, the Paka porphyry-skarn Cu-Zn-Au-Ag deposit, and the early-stage Pahuay project. Permitting and community agreements are currently underway for these assets.

Following a $35.5M placement at $1.10 in April 2026, Element 29 Resources Inc. has approximately 188M shares outstanding and ~$35M in cash. This capital position is funding the current aggressive drill campaign and early studies.