XXIX Expands Opemiska's Regional Footprint by Advancing the Pluto Property Option
XXIX Expands Opemiska's Regional Footprint
by Advancing the Pluto Property Option
Highlights:
Pluto adds 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.
Recent forestry road development has improved access and may reduce the cost of initial
fieldwork.
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. - September 17, 2026) - XXIX Metal Corp. (TSXV: XXIX) (OTCQB:
QCCUF) (FSE: 5LW0) ("XXIX" or the "Company") is pleased to announce that it has issued 287,403
common shares to Germanium Mining Corp., completing the share issuance required under the option
agreement (the "Option Agreement"). The Option Agreement provides XXIX with the right to acquire a
100% interest in the Pluto Property ("Pluto" or the "Property"), located approximately 10 km from the
Company's flagship Opemiska Project in Quebec's Chapais-Chibougamau region. The Option
Agreement was previously announced on
June 23, 2026
.
The Shares were issued at a deemed price of C$0.174 per Share, based on the 20-day volume-
weighted average trading price of the Company's common shares on the TSX Venture Exchange ending
September 8, 2026, in satisfaction of the C$50,000 share consideration required under the Option
Agreement. The Shares are subject to an applicable statutory hold period of four months and one day
from the date of issuance.
Following the issuance of the Shares, the Company's remaining obligation under the Option Agreement
is to complete exploration expenditures of at least C$250,000 on the Pluto Property on or before
December 31, 2028.
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.
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".
For further information, please contact:
Guy Le Bel, Chief Executive Officer
Phone:514.654.8550
Email:
www.xxix.ca
Forward-Looking Statements
This news release contains certain forward-looking statements, including statements regarding the
Company's exploration expenditure obligations under the Option Agreement, the potential validation of
historical information concerning the Pluto Property, the exploration potential of the Pluto Property, the
circumstances in which further work may be undertaken at Pluto, and the projected operating and
economic results described in the preliminary economic assessment for the Opemiska Project.
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: the Company's
ability to satisfy its obligations under the Option Agreement; 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. Additional risk factors are described in the Company's disclosure documents
available on SEDAR+ at
www.sedarplus.ca
. 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/314656