Element 29 Resources Inc. (TSX-V: ECU) (OTCQB: EMTRF) (BVL: ECU) announces it has closed effective August 19, 2025 its non-brokered private placement of 12,649,000 units of the Company at a price of $0.50 per Unit for aggregate gross proceeds to the Company of up to $6,324,500.

Each Unit issued under the Financing consists of one common share in the capital of the Company and one-half of one non-transferable Common Share purchase warrant. Each Warrant is exercisable for one Common Share at an exercise price of $0.70 per Warrant Share until August 19, 2028.

The net proceeds from the Financing will be used to fund exploration activities at the Company’s Perú projects, including the Phase-III drill program at its flagship Elida porphyry copper-molybdenum-silver deposit in west-central Perú, and for general working capital.

All securities issued pursuant to the Financing are subject to a statutory four month and one day hold period expiring on December 20, 2025.

Insiders of the Company participated in the Financing for an aggregate amount of 330,000 Units. Such participation is considered a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. In completing such transaction, the Company relied on exemptions from the formal valuation and minority shareholders approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the Insiders’ participation in the Offering did not exceed 25% of the fair market value of the Company’s market capitalization.

In connection with the Financing and in accordance with the policies of the TSX Venture Exchange the Company paid aggregate cash finder’s fees totaling $254,415.

Details of the Financing were previously announced on July 17, 2025 and August 1, 2025.

This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any U.S. state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable U.S. state securities laws, or an exemption from such registration requirements is available.

About Element 29 Resources Inc.

Element 29 is an emerging junior resource company with a highly experienced management team and board focused on exploring and potentially developing Tier-1 copper deposits in Perú, one of the lowest-cost, lowest-risk mining jurisdictions globally.

The Company’s principal objective is to explore and significantly expand its Elida Porphyry Cu-Mo-Ag Deposit in west-central Perú. Alongside Elida, the Company has three early stage, highly prospective porphyry Cu projects in Perú for more than 25,000 ha of titled concession. These include the Flor de Cobre porphyry Cu-Mo prospect situated in the Southern Perú Copper Belt, just 26 km from the Cerro Verde copper mine (Freeport-Buenaventura)¹ as well as the Paka and Pahuay porphyry Cu skarn prospects related to potential tertiary-aged, mineralized porphyry complexes intruding along the eastern margin of the Peruvian Coastal Batholith.

All projects are well located for future mine development and will benefit from nearby infrastructure including roads, powerlines, ports, water, and a skilled workforce.