XXIX Metal Corp (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) expresses its heartfelt gratitude to the Town of Chapais for their unwavering support and constructive partnership. The company welcomes Chapais' public call for coordinated action dated February 10, 2026, aimed at accelerating economic development in Northern Québec.
The Town of Chapais has put forth a clear vision geared towards fortifying the region's economic future. It has urged collaboration among public partners, including those involved in Plan Nord and related development projects, to facilitate priority initiatives such as Opemiska through practical measures, programs, and infrastructure support. XXIX sees this as a vital sign of local alignment and a robust foundation for responsible project advancement.
“Responsible development for our Communities and Nations is paramount,” said Guy Le Bel, CEO of XXIX. He added, “Durable resource development thrives where community engagement is strong, priorities are aligned, and project planning is executed with transparency and rigor. We appreciate Chapais' proactive approach and its willingness to collaborate with stakeholders to unlock regional benefits.”
XXIX acknowledges that all projects must navigate established technical, environmental, social, and regulatory processes. However, the company supports Chapais' call for enhanced coordination and clear sequencing across existing government tools designed to promote northern development, infrastructure readiness, and economic participation.
“A coordinated approach can significantly mitigate duplication, clarify timelines, and apply suitable programs at the right stages, all while maintaining high standards and oversight,” Le Bel emphasized.
The technical details in this release have been reviewed by Denis McNichols, P.Geo, Vice President Exploration for XXIX Metal, a Qualified Person under the National Instrument 43-101. XXIX is advancing its Opemiska and Thierry Copper projects, significant assets in Canada's copper landscape. The Opemiska Project is recognized as one of Canada's highest-grade open-pit copper deposits, covering 21,333 hectares in Quebec's Chapais-Chibougamau region. It boasts strong infrastructure and proximity to the Horne Smelter.
An October 2025 Preliminary Economic Assessment revealed a 12,500 tpd open-pit operation with a 17-year mine life, projecting an after-tax NPV8% of $505 million, an IRR of 27.2%, and a payback period of 2.3 years (based on a $4.35/lb copper price, $3,000/oz gold price, and $30/oz silver price). The Thierry Project contains both the K1 (near-surface) and K2 (past-producing underground & surface) zones, with substantial infrastructure including an all-season road, an airport within 5 km, and access to the provincial power grid and nearby rail.
These two high-potential projects solidify XXIX's position as a key player in the Canadian copper sector and establish it as one of Eastern Canada's largest copper developers. For further inquiries, please contact: Guy Le Bel, Chief Executive Officer, Phone: 514.654.8550, Email: glebel@oregroup.ca, Website: www.xxix.ca.
This release contains forward-looking statements regarding the potential growth of Opemiska and various production assumptions. Words such as “may,” “will,” “should,” and similar phrases are used to identify forward-looking statements, which involve significant risks, uncertainties, and assumptions. Readers should exercise caution and not place undue reliance on these statements.
The Preliminary Economic Assessment (PEA) mentioned here provides an initial overview of Opemiska's economic potential. The PEA’s economic model includes numerous assumptions and inferred mineral resources, which should be regarded as speculative. There is no guarantee that the inferred resources can be converted into indicated or measured resources, nor can XXIX assure that the economic outcomes discussed will be realized. Additionally, XXIX may qualify for the Clean Technology Manufacturing Investment Tax Credit (CTM-ITC) enacted on June 20, 2024, though there is no guarantee of access to this credit.
XXIX has disclosed certain non-IFRS financial measures in this release, such as C1 Cash Cost, which may not be comparable to similar measures from other corporations. These measures are intended to provide additional insight and should not be viewed in isolation from IFRS-compliant measures.
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