XXIX Metal Corp (TSXV: XXIX) is excited to announce initial drill results from the Cooke Zone, situated about 2 kilometers east of its proposed Opemiska open pit. These preliminary findings confirm the presence of significant gold-copper-silver mineralization at Cooke, indicating its potential to act as a satellite deposit that could provide additional mill feed for the larger Opemiska development project.
So far, drilling has revealed at least two parallel mineralized zones, detected in every hole drilled, which supports the idea of continuity and strengthens the case for more systematic delineation. Given that Cooke is a past-producing mine without a current NI 43-101 resource, it represents a clear growth opportunity within the broader Opemiska district. The confirmation of these two parallel zones in early drilling reinforces the potential to advance Cooke toward its first resource estimate, potentially enhancing the near-surface feed for the planned Opemiska operation. Successfully delineating Cooke could increase the overall project scale, improve flexibility in the mine plan, and provide various development options as XXIX progresses toward the next Mineral Resource Estimate (MRE) and the Preliminary Feasibility Study (PFS) pathway.
"These initial drill holes at Cooke validate the opportunity to add high-value, near-surface ounces and copper to the broader Opemiska narrative," stated Guy Le Bel, CEO of XXIX. "Cooke is a historically productive area with evident potential for growth. We are encouraged by the consistency of finding two parallel zones, and we plan to conduct tighter-spaced drilling to advance Cooke toward its maiden resource estimate."
Cooke Crown Pillar Drilling Program: Two Parallel Zones Confirmed
The Company has expanded its initial drilling program at Cooke to target approximately 10,000 meters across both the Cooke and Saddle Zones (refer to the news release dated December 8, 2025). The program is focused on the near-surface crown pillar, which aims to better define the previously interpreted North Zone and South Zone over an estimated 700-meter strike length.
Successful delineation of a mineralized crown pillar at Cooke could reinforce the overall Opemiska development strategy as the Company moves toward an updated MRE to support a PFS.
Location and Drilling Insights
Drilling at Cooke indicates a distinct mineralization style compared to the Springer and Perry zones that form the basis of the planned Opemiska open pit. While Springer and Perry are characterized by larger, more continuous veins, Cooke's mineralization appears to be hosted within two shear zones that contain numerous smaller veins and veinlets. This can yield locally higher-grade, albeit more variable, intersections in terms of grade and thickness. In the Chibougamau copper zone, drilling intersected narrower, but high copper values as anticipated. The Company believes these findings warrant a follow-up program with narrower drill spacing to support a potential maiden MRE at Cooke.
All samples (NQ core) are processed and cut at the Company's secure facility in Chapais under the supervision of Ahcene Gaoui, P.Geo., project geologist. The samples are then transported securely to Agat Laboratories in Val-d'Or for analysis. Each batch includes one standard and one blank sample for quality control, with the blank positioned within a mineralized zone.
The analytical methods employed include fire assay with trace Au, AAS finish, and gravimetric finish for over-limit results. Aqua regia digest is used for copper and silver analysis, employing ICP OES and ICP-MS finishes for over-limit results.
The technical information in this report has been reviewed and approved by Denis McNichols, P.Geo., Vice President Exploration for XXIX Metal, a Qualified Person as defined by National Instrument 43-101.
XXIX is advancing its Opemiska and Thierry Copper projects, two significant Canadian copper assets. The Opemiska Project is recognized as one of Canada's highest-grade open-pitable 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 projected a 12,500 tpd open pit operation with a 17-year mine life, yielding an after-tax NPV8% of $505 million, an IRR of 27.2%, and a payback period of 2.3 years (based on copper at $4.35/lb, gold at $3,000/oz, and silver at $30/oz). The Thierry Project includes the K1 (near-surface) and K2 (past-producing) zones, detailed in the XXIX news release dated October 1, 2024. Thierry is equipped with significant infrastructure, including an all-season road, an airport within 5 km, a provincial power grid within 8 km, and nearby rail access. Through these high-potential projects, XXIX has established itself as a key player in the Canadian copper sector, solidifying its position as one of Eastern Canada's largest copper developers.
For further information, please reach out to Guy Le Bel, Chief Executive Officer, at 514.654.8550 or via email at glebel@oregroup.ca. More information is also available at www.xxix.ca.
This news release contains forward-looking statements regarding the Company's beliefs about Opemiska's growth potential, cost and production assumptions, and associated risks. Forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially. Readers should not place undue reliance on these statements, which the Company does not intend to update unless required by law. The Preliminary Economic Assessment is a high-level review of Opemiska's economic potential, relying on various assumptions, including inferred mineral resources that are speculative in nature. There is no assurance that inferred resources will convert to indicated or measured resources, nor that the projected economics will be realized.
XXIX may qualify for the Clean Technology Manufacturing Investment Tax Credit (CTM-ITC), enacted on June 20, 2024, but there is no guarantee of access to this credit.
XXIX has included non-IFRS financial measures in this release, such as C1 Cash Cost, which may not be comparable to similar measures reported by other corporations. These measures are intended to provide additional context and should not be considered in isolation from IFRS measures.
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