XXIX Expands Opemiska Footprint with Pluto Property Option

Highlights:

• Pluto adds early-stage copper-gold-silver exploration exposure near Opemiska without changing XXIX's core focus on Opemiska and Thierry.
• XXIX views the broader Opemiska district as highly prospective for copper-gold mineralization, with Pluto adding new exploration targets that could benefit the Opemiska camp.
• The Property covers approximately 556 hectares and includes nearby claims that create a practical exploration footprint.
• Recent forestry road development has improved access and may reduce the cost of initial fieldwork.
• Pluto benefits from approximately C$248,000 in excess exploration work credits from prior assessment work, including an extended IP survey.
• Historical work indicates copper-gold-silver potential, which requires modern validation.
• XXIX plans to compile historical data, complete reconnaissance mapping and prospecting, rank targets, and assess whether trenching or drilling is warranted.

Toronto, Ontario--(Newsfile Corp. - June 23, 2026) - XXIX Metal Corp‎. (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) ("XXIX" or the "Company") is pleased to announce that it has entered into an option agreement with Germanium Mining Corp. to acquire a 100% interest in the Pluto Property ("Pluto" or the "Property"), located in Québec's Chapais-Chibougamau region, approximately 10 km from the Opemiska Project.

Pluto comprises approximately 556 hectares. Additionally, XXIX has staked certain nearby claims to complement the transaction. The acquisition gives the Company low-cost exposure to an early-stage copper-gold-silver exploration opportunity while maintaining its capital allocation priorities at Opemiska and Thierry.

Pluto has seen limited historical work relative to other areas of the region, in part because access was historically challenging. Recent forestry road development has improved access and may allow the Company to evaluate the Property more efficiently during an initial field program.

"Pluto is a low-cost addition to our regional exploration pipeline. The value of the transaction is that it gives XXIX the ability to evaluate ground where historical work, existing credits and improved access may support a practical first-pass exploration program. Our approach will be disciplined and systematic: compile the historical data, verify the geology through field validation, and advance only those targets that warrant additional exploration and investment," said Guy Le Bel, CEO of XXIX.

Figure 1 – Location of the Pluto Option Property

Pluto Complement to XXIX's Strategy in the Chapais-Chibougamau District

XXIX's strategy remains centered on advancing Opemiska and Thierry. Pluto is intended to be a complementary addition to that strategy rather than a new development focus.

Pluto's proximity to Opemiska is relevant from a regional exploration and logistics perspective. If field validation supports historical information, Pluto could provide additional early-stage exploration potential around the Opemiska Project. At this stage, Pluto is not part of the Opemiska mineral resource or development plan and will be advanced only if results justify further work.

Transaction Terms

Under the terms of the option agreement, XXIX can acquire a 100% interest in the Pluto Property by making aggregate consideration of C$100,000, comprised of C$50,000 in cash and C$50,000 in XXIX shares, and by completing C$250,000 in exploration expenditures on the Property on or before December 31, 2028.

Pluto Option Agreement Summary (Table 1)

Pluto Property and Transaction Summary (Table 2)

Exploration Rationale

The Property is considered prospective for copper-gold-silver mineralization based on historical work and its regional geological setting. The Company cautions that Pluto is an early-stage exploration property and that historical information has not yet been fully verified by XXIX.

Historical information from the broader Pluto area indicates the presence of sulphide-bearing rocks and copper, gold and silver indicators. These observations require modern field verification, sampling, geological interpretation and quality assurance/quality control work before their significance can be determined.

Planned First-Phase Work Program

XXIX's initial work program is expected to focus on low-cost validation and target ranking. Any trenching or drilling would be considered only after the historical data review and field validation work have been completed.

Planned First-Phase Work Program (Table 3)

The initial field program is expected to commence during the summer/fall 2026 field season, subject to closing of the transaction, TSX Venture Exchange acceptance, permitting, access and contractor availability.

Cautionary Note Regarding Historical Information

The historical exploration information described in this news release is based on publicly available assessment reports, prior operator disclosure and other historical sources. XXIX has not yet independently verified all historical data. Historical results should not be relied upon as evidence of current mineral resources or reserves on the Property. Additional exploration, verification sampling, geological interpretation and quality assurance/quality control work will be required before the Company can determine the significance of historical results or whether the Property hosts mineralization of economic interest.

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 developers.

QP Statement

The technical information contained in this news release has been reviewed and approved by Denis McNichols, P.Geo and géo., Vice President Exploration for XXIX Metal, a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects".

Forward Looking Statements

This news release contains certain forward-looking statements, including statements about the Company's belief that Opemiska has potential for continued growth, various cost, price and production assumptions used to inform the PEA, and outstanding risk factors, including Opemiska's proximity to the Town of Chapais, Historical Assay validation, Geotechnical considerations of open stopes in the eastern pit wall, the Venture sill, the Gwillim fault, host rock competency and Historical Stope Modeling. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company's plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

The reader is advised that the Preliminary Economic Assessment (PEA) summarized in this news release is intended to provide only an initial, high-level review of Opemiska's economic potential. The PEA mine plan and economic model include numerous assumptions and the use of inferred mineral resources. Inferred mineral resources are considered to be too speculative to be used in an economic analysis except as allowed for by NI 43-101 in PEA studies. There is no guarantee that inferred mineral resources can be converted to indicated or measured mineral resources, and as such, there is no guarantee Opemiska's economics described herein will be achieved. XXIX may be eligible for Clean Technology Manufacturing Investment Tax Credit (CTM-ITC). This legislation has been enacted on June 20, 2024. There is no guarantee the Company will be able to access the CTM-ITC.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302576