XXIX Metal Corp‎. (TSX-V: XXIX) (OTQB: QCCUF) (FSE: 5LW0) is pleased to report that it has filed the independent Preliminary Economic Assessment technical report for its 100%-owned Opemiska Project in Chapais, Quebec.

Highlights Include:

• Total payable copper across Opemiska 17 year mine life:
  • 715 million pounds of copper
  • 409 thousand ounces of gold
  • 2.08 million ounces of silver

• Robust after-tax base case economics:
  • C$505M after-tax NPV8% (C$897 after-tax NPV8% using spot pricing)
  • 27.2% after-tax IRR (39.3% after-tax IRR using spot pricing)

• Rapid payback: 2.3-year Base Case payback of C$617M initial capital resulting from upfront high-grading.

• Potential High-grade annual recovered payable production across the first six years:
  • 59 million pounds of copper per year
  • 34 thousand ounces of gold per year
  • 174 thousand ounces of silver per year

• Low Cost Producer: Opemiska is in the first quartile of the cost curve with US$1.03/lb C1 cash cost net of by-product credits across the first six years. US$1.40/lb net of by-product credits over the life of mine.

• Significant leverage to rising copper and gold prices, with $4.40 billion in life of mine revenue
  • 70.7% copper
  • 27.9% gold
  • 1.4% silver

• Plenty of Resource upside including Cooke gold zone with active drilling underway.
• Full PEA Technical Report is available on Sedar+ and XXIX’s website

Technical Information and Technical Report Filing

The Technical Report, titled “NI 43-101 Preliminary Economic Assessment Technical Report for the Opemiska Copper Project, Chapais, Quebec,” is dated effective October 17, 2025, with an issue date of December 2, 2025.

The independent qualified persons for the PEA, as defined by National Instrument 43-101, are

• Renee Barrette, ing., Principal Metallurgist for Ausenco Engineering Canada ULC for metallurgy and process plant design.
• Pierre-Luc Richard, P. Geo for PLR Resources Inc.
• Jean-François St-Laurent, ing. PEng (ON), M.Sc, Principal Consultant for SRK Consulting (Canada) inc. for the Tailings Management Facility.
• Charles Veilleux, ing, Senior Consultant for SRK Consulting (Canada) inc. for the Hydrology, Site Wide Water balancing and mine site surface water management facilities.
• Maude Lévesque Michaud, ing., from Geodoz conseil for environmental and social considerations.
• Stephen Coates, P. Eng. for Evomine Consulting for mining methods.
• Alexandre Burelle, P. Eng. for Evomine Consulting for cost estimation and financial analysis.

The Technical Report was prepared and compiled by Ausenco, with inputs from the independent qualified persons listed above.

The PEA incorporates 44.3 Mt of inferred mineral resources (0.32% Cu, 0.18 g/t Au, 0.77 g/t Ag). Inferred mineral resources can only be used for economic analysis within a PEA.

The Technical Report is available under the Company’s issuer profile on SEDAR+ and on its website at www.xxix.ca. The PEA results were originally announced in the Company’s October 21, 2025, news release, also available on our website.

View: Opemiska PEA Technical Report (NI 43-101)

Project Overview

The 100%-owned Opemiska spans 21,333 hectares in Quebec’s Chapais-Chibougamau region, with significant infrastructure in place. Opemiska comprises four past-producing mines, two of which (Springer and Perry) underpin the current PEA. Cooke, a third past-producing mine located ~3km east of the proposed pit is currently being evaluated for its gold resource potential.

Location of the Opemiska Project

About XXIX Metal Corp‎.

XXIX is advancing its Opemiska and Thierry Copper projects, two significant Canadian copper assets. The Opemiska Project, one of Canada’s highest-grade open pitable copper deposits, spans 21,333 hectares in Quebec’s Chapais-Chibougamau region, with strong infrastructure and nearby access to the Horne Smelter. An October 2025 Preliminary Economic Assessment outlined a 12,500 tpd open pit operation over a 17-year mine life, generating an after-tax NPV8% of $505M, IRR of 27.2%, and a 2.3-year payback period ($4.35/lb copper price, $3,000/oz gold price, $30/oz silver price). The Thierry Project hosts the K1 (near-surface) and the past-producing K2 (underground & surface) zones (see XXIX news release dated October 1, 2024 for details regarding resources). Thierry has significant infrastructure in place including an all-season road, an airport within 5km, a provincial power grid within 8km, and nearby rail. With these two high-potential projects, the Company has solidified its position as a key player in the Canadian copper sector and has established itself as one of Eastern Canada’s largest copper developer.

About Ausenco Engineering Canada ULC

Ausenco is a global engineering, consulting and project delivery firm built for the minerals and metals industry. With three decades of global experience, we work alongside clients to navigate complex challenges from first study to final closure-across every phase, on five continents. Deeply rooted in the minerals and metals industry, our people combine technical depth, hands-on expertise, and hard-earned insight to deliver practical, forward-thinking solutions that reduce risk and unlock value (www.ausenco.com).