XXIX.V · 2025-07-21 12:00:00

XXIX Files Technical Report on Opemiska's Updated Resource Estimate

Resource Estimates Technical Reports (NI 43-101)

XXIX Files Technical Report on Opemiska's

Updated Resource Estimate

Highlights:

Large, robust open pit resource optimized for high-quality PEA in the near-term. Opemiska is one

of the highest-grade open pitable copper projects in Canada.

Pit Constrained resource is now 1.4 billion pounds CuEq (Indicated resource of 62,706 kt @

1.04% CuEq) + 709 million pounds CuEq (Inferred resource of 78,485 kt @ 0.41% CuEq), and

within a reduced surface footprint.

Total resource of 1.7 billion pounds CuEq (Indicated resource of 69,653 kt @ 1.12% CuEq), + 746

million pounds CuEq (Inferred resource of 80,615 kt @ 0.42% CuEq).

Significantly lower strip ratio as a result of incorporating lower grade stockwork and drilling at the

Saddle Zone.

What was previously considered waste is now resource.

New gold potential on Cooke zone, which is a past-producing gold mine with its crown pillar still

intact, representing significant gold upside to the larger Opemiska copper project.

Updated Technical Report can be found on XXIX's website and on SEDAR+.

Toronto, Ontario--(Newsfile Corp. - July 21, 2025) - XXIX Metal Corp. (TSXV: XXIX) (OTCQB: QCCUF)

(FSE: 5LW0) ("

XXIX

" or the "

Company

is pleased to announce that it has filed its updated technical

report, prepared in accordance with the disclosure standards under National Instrument 43-101 ("NI 43-

101") for its 100% owned Opemiska Project, located in Quebec's Chapais-Chibougamau District. The

updated technical report marks an increase in total tonnage and contained metal within a shallower pit

constrained resource, and within a reduced surface footprint, details of which were previously announced

(

see News Release dated June 3, 2025

The detailed technical report is now available on XXIX's website at

www.xxix.ca

and on SEDAR+ under

the Company's profile at

www.sedarplus.ca

LINK TO OPEMISKA'S 2025 TECHNICAL REPORT

This MRE marks a strategic shift toward improving project economics while maintaining conservative

operational assumptions. The pit-constrained portion of the resource has increased by 12%, now

captured within a shallower and more compact pit shell. This highlights the Company's commitment to

delivering a high-quality PEA in the near term. Notably, the inclusion of lower-grade stockwork

mineralization has significantly enhanced the overall resource profile, substantially reducing the

anticipated strip ratio, and broadened the development pathways for Opemiska.

Table 1: Opemiska MRE Summary of Pit Constrained Mineral Resources, 0.15% CuEq cut-off and Out-of-Pit Mineral Resources, 1.00% CuEq cut-off (see

Footnotes 1-5)

Pit Constrained

Tonnes

CuEq

0.15% CuEq Cut-

Off

(k)

(%)

(g/t)

(M lbs)

(koz)

Indicated

62,706

1.04

0.76

1.71

0.31

1,047

3,450

634

Inferred

78,485

0.41

0.26

0.61

0.17

457

1,530

419

Out of Pit

Tonnes

CuEq

1.00% CuEq Cut-

Off

(k)

(%)

(g/t)

(M lbs)

(koz)

Indicated

6,947

1.85

1.59

2.76

0.28

243

617

Inferred

2,130

0.88

0.69

1.20

0.21

Total

Tonnes

CuEq

0.15% & 1.00%

CuEq Cut-Off

(k)

(%)

(g/t)

(M lbs)

(koz)

Indicated

69,653

1.12

0.84

1.82

0.31

1,290

4,067

697

Inferred

80,615

0.42

0.28

0.62

0.17

490

1,613

433

The independent qualified persons for the MRE, as defined by National Instrument ("NI") 43-101 guidelines, is Pierre Luc Richard, P.Geo.,

of PLR Resources Inc. with contributions from Stephen Coates, P.Eng., of Evomine for value cut-off, open pit and optimization solids, and

Christian Laroche, P.Eng., from Synectiq, for metallurgical parameters. The effective date of the MRE is May 30, 2025.

These Mineral Resources are not mineral reserves as they have no demonstrated economic viability.

No economic evaluation of these

Mineral Resource has been produced. The quantity and grade of reported Inferred Resources in this MRE are uncertain in nature and

there has been insufficient drilling to define these Inferred Resources as Indicated. However, it is reasonably expected that the majority of

Inferred Mineral Resources could be upgraded to Indicated category with continued drilling.

The Qualified Persons are not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, marketing or

other relevant issues that could materially affect the Mineral Resource Estimate. The Mineral Resource Estimate is within the limits of the

Town of Chapais.

Calculations used metric units (metres, tonnes). Metal contents in the above table are presented in percent, pounds or tonnes. Metric

tonnages and pounds were rounded, and any discrepancies in total amounts are due to rounding errors.

CIM definitions and guidelines for Mineral Resource Estimates have been followed.

See Cautionary Note below for copper equivalency

(CuEq) values.

Figure 1:

Opemiska 3D Resource Model and Constraining Pit Shell

Figure 2:

Plan View of Constraining Pit Shell

Figure 3)

Section Comparison of 2024 Resource Pit vs 2025 MRE Pit

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. A June 2025 resource update reported a pit constrained resource of 62.7 million tonnes

at 1.04% CuEq (Indicated) and 78.4 million tonnes at 0.41% CuEq (Inferred).

The Thierry Project hosts

two past-producing open pits that transitioned to underground mining. Historically, copper concentrate

was shipped to the Horne Smelter in Rouyn-Noranda, QC. Significant infrastructure is already in place,

with the Thierry property being accessible via 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.

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. The independent qualified

persons for the MRE, as defined by National Instrument ("NI") 43-101 guidelines, is Pierre-Luc Richard,

P.Geo., of PLR Resources Inc. with contributions from Stephen Coates, P.Eng., of Evomine for value

cut-off, open pit and and optimization solids, and Christian Laroche, P.Eng., from Synectiq, for

metallurgical parameters.

Cautionary Statement Regarding Copper Equivalent Grades

Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into

account 1) metal grades; 2) long-term metal prices of: US$4.25/lb copper, US$2,500/oz gold and

US$27.00/oz silver; 3) recoveries were calculated using a recovery modelled developed for the

Opemiska project and were estimated at 95.0% for copper, 88.0% for gold and 86.0% for silver; 4) net

smelter return value of metals as percentage of long-term metal prices, estimated at 89.2%, 95.8% and

88.3% for Cu, Au and Ag respectively.

5) The equation used to calculate CuEq % equals Cu % + 0.8531

Au g/t + 0.0083 Ag g/t.

Cautionary Statement Regarding Mineral Resources

The mineral resources disclosed in this press release conform to NI43-101 standards and guidelines

and were prepared by independent qualified persons. The above-mentioned mineral resources are not

mineral reserves as they do not have demonstrated economic viability. The quantity and grade of the

reported Inferred Mineral Resources are conceptual in nature and are estimated based on limited

geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological

grade and/or quality of continuity. An Inferred Mineral Resource has a lower level of confidence relative to

a Measured or Indicated Mineral Resource and constitutes an insufficient level of confidence to allow

conversion to a Mineral Reserve. It is reasonably expected, but not guaranteed, that the majority of

Inferred Mineral Resources could be upgraded to Measured or Indicated Mineral Resources with

additional drilling. The National Instrument 43-101 Technical Report, including the mineral resources for

the Opemiska Project contained in this news release, will be delivered and filed on SEDAR by XXIX

within 45 days of the date of this news release.

For further information, please contact:

Guy Le Bel, Chief Executive Officer

Phone: 514.654.8550

Email:

[email protected]

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, any anticipated timelines for the

completion of a Preliminary Economic Assessment at Opemiska, various cost, price and production

assumptions used to inform the Mineral Resource Estimate cut-off grade, 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.

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/259418

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